On 23 December 2021, China Resources Land Limited, as borrower, entered into a facility letter for a USD 100,000,000 loan facility with a bank. The Loan Facility has a term of one year commencing from the date of the first drawdown. Pursuant to the Facility Letter, it shall be a Change of Control if (i) CRH ceases to have the direct or indirect ownership of at least 35% of the issued shares of the Company; or (ii) CRH ceases to have the ability from a practical perspective to control the appointment by the Company's shareholders of 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 Change of Control under the Facility Letter occurs, the bank shall declare any commitment under the Facility Letter to be cancelled and/or declare the outstanding amounts advanced under the Facility Letter, together with accrued interest, and all other amounts accrued under the Facility Letter immediately due and payable.