Reference is made to the Previous Announcements in relation to, among others, (i) the provision of the Loan pursuant to the Loan Agreement dated 30 November 2022 entered into between Everbright Jiangsu as lender and Everbright Jiabao as borrower; (ii) the provision of the Second Loan pursuant to the Second Loan Agreement dated 30 December 2022 entered into between Everbright Jiangsu as lender and Everbright Jiabao as borrower; and (iii) the Acquisition of the Bonds on 27 September 2022 prior to the entering into of the Loan Agreement and the Second Loan Agreement. Please refer to the details of the Loan, the Second Loan and the Acquisition in the Previous Announcements. Unless otherwise defined, capitalized terms in this announcement shall have the same meanings as those defined in the Previous Announcements.

Pursuant to the Loan Agreement, Everbright Jiangsu has agreed to grant the Loan in the amount of RMB 539,000,000 to Everbright Jiabao for a term of three months. As at the date of this announcement, the principal amount of RMB 100,000,000 of the Loan and its corresponding interest amounts have been repaid by Everbright Jiabao and the Loan has a remaining outstanding principal amount of RMB 439,000,000 with the maturity date on 28 February 2023. The Board hereby announced that on 28 February 2023, (a) the Supplemental Loan Agreement was entered into between Everbright Jiangsu as lender and Everbright Jiabao as borrower; and (b) the Pledge Agreement was entered into among (i) Everbright Jiabao and Shanghai Jiabao as pledgors; (ii) Everbright Jiangsu as pledgee; and (iii) Zhuhai Anshi and Shanghai Guangwen as the funds involved under the Pledge.

Pursuant to the Supplemental Loan Agreement and the Pledge Agreement, Everbright Jiangsu has agreed to initially extend the maturity date of the Remaining Loan from 28 February 2023 to 31 May 2023 and upon which further extend the maturity date of the Remaining Loan to 31 August 2023 subject to the written consent of Everbright Jiangsu. Date of the Supplemental 28 February 2023 Loan Agreement: Parties: a) Everbright Jiangsu, as the lender; and b) Everbright Jiabao, as the borrower Outstanding principal: RMB 439,000,000 Interest rate: 6.00% per annum, on the basis of a 365-day year for repayment during the Extended Maturity Period (as defined hereinafter) Maturity date: 31 May 2023 (the ‘First Extended Maturity Date'), upon which the First Extended Maturity Date may be further extended to 31 August 2023 (the ‘Second Extended Maturity Date') subject to the written consent of Everbright Jiangsu (collectively, the ‘Extended Maturity Period'). If no written consent has been issued by Everbright Jiangsu upon the First Extended Maturity Date, the Remaining Loan is deemed to be due under the Supplemental Loan Agreement.

Effective date: effective from the date of chopping by Everbright Jiangsu and Everbright Jiabao and the approval of the Supplemental Loan Agreement and the transactions contemplated thereunder at the shareholders' general meeting of Everbright Jiabao Repayment: Everbright Jiabao shall repay the Remaining Loan together with the corresponding interest amounts in full in one lump sum on the First Extended Maturity Date or the Second Extended Maturity Date, as the case may be. Prepayment: Everbright Jiabao may prepay all or part of the Remaining Loan at any time before the maturity date, in the event of partial prepayment, the interest of such part of the prepaid Remaining Loan shall be paid together with the principal and shall not be further accumulated.