Dexin China Holdings Company Limited announced 2024 Framework Agreement for Smart Community Solutions Services with Dexin Services shall be effective commencing from 1 January 2024 until 31 December 2026 (inclusive). Pursuant to the 2024 Framework Agreement for Smart Community Solutions Services, Dexin Services agrees to provide the Group with Smart Community Solution Services from time to time, including but not limited to providing smart community solutions with hardware and software that integrate, among other things, visitor management, traffic control, carpark management, security control, energy conservation and fire control capabilities for the properties developed by the Group. The price of the smart community solutions service fees shall be determined through arm's length negotiations between the parties with reference to (i) the location and conditions of the property; (ii) the costs for research and development; (iii) the scope of services; (iv) the anticipated operating costs (including but not limited to labor costs and material costs); (v) the rate offered by Dexin Services to Independent Third Parties for comparable services; and (vi) the fees charged by Independent Third Party service providers for similar services in the market.

The Group shall have the right to adopt the terms and conditions of the transaction that are most favorable to the Group after taking into account and comparing the terms and conditions proposed by Dexin Services and any Independent Third Party. The Group shall have the right to appoint third parties to provide the relevant services for its properties for which the providers of smart community solutions services have not been appointed through bidding or agreement according to the provisions of Chinese laws and regulations. The Group would endeavor to solicit at least two other Independent Third Parties to the bidding process.

The Group and Dexin Services Group shall enter into definitive agreements pursuant to the 2024 Framework Agreement for Smart Community Solutions Services in respect of each transaction regarding the provision of the Smart Community Solutions Services. The definitive agreements shall contain provisions, which are, in all material aspects, consistent with the binding principles, guidelines, terms and conditions set out in the 2024 Framework Agreement for Smart Community Solutions Services.