On 10 November 2021, the China Resources Land Limited, as borrower, entered into a facility letter (the "Facility Letter") for a HKD 1,500,000,000 loan facility (the "Loan Facility") with a bank. The Loan Facility has a term of five years commencing from the date of the first drawdown. Pursuant to the Facility Letter, the Company undertakes that throughout the term of the Loan Facility, CRH shall (i) remain in direct or indirect ownership of at least 35% of the issued shares of the Company; and (ii) have the ability from a practical perspective to control the directors to the Company's board. As at the date of this announcement, CRH owns approximately 59.55% of the issued share capital of the Company. If a breach of the aforementioned undertakings under the Facility Letter occurs, the bank shall declare all amounts advanced under the Facility Letter, together with accrued interest, and all other amounts accrued under the Facility Letter immediately due and repayable.