On 14 September 2023, Guangdong Investment Limited (the ?Company?) accepted a term loan facility in the principal amount of HKD 2,000,000,000 (the ?Facility?) offered by a bank subject to the terms and conditions as set out in a facility letter (the ?Facility Letter?) for the purpose of the refinancing the existing indebtedness of the Company with the bank. The Facility shall be for a term of 364 days from the date of first drawdown. Pursuant to the Facility Letter, among others, the Company undertakes with the bank that it will: (i) procure that GDH Limited (?GDH?), the immediate controlling shareholder of the Company, shall not cease to be ultimately and beneficially controlled and majority-owned (directly and/or indirectly) by the People's Government of Guangdong Province of the People's Republic of China (the ?Guangdong Provincial Government?); and (ii) procure that GDH shall not cease to beneficially own, directly and/or indirectly, at least 51% of the shareholdings in the Company.

If the Company is in breach of any of the above undertakings under the Facility Letter, all amounts advanced under the Facility will become immediately due and repayable. At the date of this announcement, GDH, the immediate controlling shareholder of the Company, holds approximately 56.49% interest in the Company and is ultimately controlled by the Guangdong Provincial Government.