Ever Reach Group (Holdings) Company Limited (the "Company", together with its subsidiaries from time to time, the "Group") on a voluntary basis. Reference is made to the announcement of the Company dated 2 December 2022 (the "Announcement") in relation to the master property management service agreement dated 2 December 2022 entered into between Hengda Property Management and the Company regarding the provision of property management and related services by Hengda Property Management to the Group (the " 2022 Master Property Management Service Agreement"). Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

Since the entering into of the 2022 Master Property Management Service Agreement, Hengda Property Management, through its Yuzhou branch ("Hengda Property Management (Yuzhou Branch") has provided certain property management and related services in Yuzhou, the PRC, to the Group in place of Hengda Property Management (Yizhou Branch) in accordance with the terms of the 2022 Master Property Management service (the "Proposed Arrangement"). Respective service agreements will be entered into between the members of the Group and Yuzhou Hengda Property Management for the provision of the property management and related services inYuzhou, the PRC. Respective service agreements will set out the relevant services to be provided by Yuzhou Hengda property Management to the members of the Group and the service fees and such agreements may only contain provisions which are in all material respects consistent with the binding principles, guidelines, terms and conditions set out in the 2022 Master Property Management Service agreement.

The service agreements entered into between the members of The Group and Hengda Property Management (Yuzhou Branch) will be terminated accordingly. All the terms of the 2022 Master property Management Service Agreement shall remain unchanged. The board of directors of the Company considers that the Proposed Arrangement will not have any impact on the Group on the basis that (i) all the terms of the 2022 MasterProperty Management Service Agreement shall remain unchanged; (ii) the business scope of Yuzhou HengdaProperty Management is similar to that of Hengda Property Management ("Yuzhou Branch); and (iii) Yuzhou Hengdaproperty Management will be managed by the same team of personnel as Hengda Property Management (yuzhou Branch) and hence, Yuzhou Hengda properties Management will be able to adhere to the quality, safety and promptness in delivering property management and related services as offered by Hengda Property Management (Xuzhou Branch).