Greentown Management : RETIREMENT OF NON-EXECUTIVE DIRECTOR

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GREENTOWN MANAGEMENT HOLDINGS COMPANY LIMITED

綠 城 管 理 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 09979)

RETIREMENT OF NON-EXECUTIVE DIRECTOR

The board of directors (the "Board") of Greentown Management Holdings Company Limited (the "Company") announces that Mr. Liu Wensheng ("Mr. Liu") has informed the Board about his retirement plan, and he will retire and resign from his position as non-executive director of the Company with effect from 13 April 2021. Mr. Liu has confirmed that he has no disagreement with the Board. The Board and Mr. Liu also confirm that they are not aware of any matters concerning the retirement of Mr. Liu that need to be brought to the attention of the shareholders of the Company.

The Board hereby expresses its sincere gratitude to Mr. Liu for his valuable contribution to the Company during his tenure.

By order of the Board

Greentown Management Holdings Company Limited

Li Jun

Chief Executive Officer and Executive Director

Hangzhou, PRC, 13 April 2021

As at the date of this announcement, the Board comprises Mr. Guo Jiafeng and Mr. Zhang Yadong as non-executive Directors, Mr. Li Jun and Mr. Lin Sanjiu as executive Directors, and Mr. Lin Zhihong, Dr. Ding Zuyu and Mr. Chan Yan Kwan Andy as independent non-executive Directors.