China South City Holdings Limited announced the Requisite Consents for the July 2024 Notes have been obtained prior to the Further Extended Expiration Date. The Company hereby announces that (i) it has accepted the Consents from the Holders of the July 2024 Notes and has executed the amended and restated indenture with respect to the July 2024 Notes (the "July 2024 Amended and Restated Notes Indenture") as described in the Consent Solicitation Statement to bring the proposed amendments to the July 2024 Notes into effect and (ii) in connection therewith, it has decided to waive the condition that it receive valid Requisite Consents to effect the Proposed Amendments with respect to the April 2024 Notes Indenture, the June 2024 Notes Indenture, the October 2024 Notes Indenture and the December 2024 Notes Indenture. As a result, the effectiveness of the proposed amendments and waivers in relation to the July 2024 Notes is not conditional upon the consummation of the Consent Solicitation in respect of the other series of the Notes.

With respect to the July 2024 Notes, the proposed amendments include: a. extending the maturity of the July 2024 Notes to 19 August 2027; b. reducing the interest rate of the July 2024 Notes from 9.0% per annum to 4.5% per annum, which shall become effective on the Payment Date; c. modifying the interest payment dates under the July 2024 Notes to mean 19 May and 19 November of each year and providing that (i) the first payment of interest, to be made on 19 May 2024, will be of interest accrued from and including the Payment Date to but excluding 19 May 2024 and (ii) the last payment of interest, to be made on the final maturity date of the July 2024 Notes, will be of interest accrued from and including 19 May 2027 to but excluding such final maturity date; d. revising the amortization schedule, under which on each Amortization Payment Date (as defined in the July 2024 Amended and Restated Notes Indenture), the Company shall redeem at least the Minimum Principal Amount (as defined in the July 2024 Amended and Restated Notes Indenture) of the July 2024 Notes at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to (but not including) the relevant Amortization Payment Date, in cash pro rata to the Holders thereof on the immediately preceding Amortization Record Date (as defined in the July 2024 Amended and Restated Notes Indenture) by way of a proportional reduction in the principal amount of each July 2024 Note held by such Holders; Amortization Payment Date: 19 April 2025. Required principal amount (on cumulative basis): USD 11,836,447 (being 5% of the aggregate principal amount of the July 2024 Notes outstanding on the Payment Date). 19 December 2025: USD 18,938,315 (being 8% of the aggregate principal amount of the July 2024 Notes outstanding on the Payment Date).

19 June 2026. USD 26,040,183 (being 11% of the aggregate principal amount of the July 2024 Notes outstanding on the Payment Date). 19 February 2027: USD 35,509,340 (being 15% of the aggregate principal amount of the July 2024 Notes outstanding on the Payment Date).