General Announcement::Joint press release with Yanlord Land Group Limited

PRESS RELEASE

YANLORD AND HO BEE ENTER INTO AGREEMENT

TO EXTEND CO-OPERATION TO TIANJIN, THE PRC

• Yanlord and Ho Bee are set to jointly develop a site located in Hongqiao District
  ( ), Tianjin, the People's Republic of China ("PRC") into a new high-end residential development with ancillary community retail space and educational facilities with a total gross floor area ("GFA") of approximately 117,100 square metres ("sqm")
• Ideally situated for prime residential developments and well connected via key

thoroughfares, the site is located 600 metres away from Metro Line Route 1,

QinJianDao Station (	) and 2 kilometres ("km") away from the
Tianjinxi Railway Station (	)

• Nestled in the prime residential area of Tianjin city, the development is adjacent to the office of Hongqiao District Government of Tianjin and major commercial and office area of the city
• The development extends the long-establishedco-operation between Yanlord and Ho Bee to property development within the Bohai Rim real estate market after the parties' successful co-operation in property development projects in Tangshan, Shanghai and Zhuhai in the PRC since 2009
• Upon completion of the transaction, Yanlord and Ho Bee shall hold 51% and 49% effective interest in the development, respectively

Singapore/Hong Kong/Tianjin - 28 June 2021 - Yanlord Land Group Limited (Z25.SI) ("Yanlord") together with Ho Bee Land Limited (H13.SI) ("Ho Bee") jointly announced today that they have entered into a co-operationagreement to jointly develop a residential site

located in Hongqiao District (

), Tianjin, the PRC.

The land parcel with a total site area of approximately 53,200 sqm located at XiangDongNan

Road in Hongqiao District (), Tianjin, the PRC was acquired by Yanlord through public land auction for a total consideration of approximately RMB1.5 billion. Upon

completion of the transaction, Yanlord and Ho Bee shall hold 51% and 49% effective interest in the development, respectively. Yanlord and Ho Bee plan to jointly develop the site and transform it into a new high-end residential development with ancillary community retail space and educational facilities with a total GFA of approximately 117,100 sqm.

Ideally situated for prime residential developments and well connected via key thoroughfares, the site is located 600 metres away from Metro Line Route 1, QinJianDao Station (

) and 2 km away from the Tianjinxi Railway Station ( ). In addition to the convenient access to local transportation facilities, future residents of the development will also benefit from a comprehensive suite of lifestyle amenities as well as proximity to shopping malls and parks. Nestled in the prime residential area of Tianjin city, the development is adjacent to the office of Hongqiao District Government of Tianjin and major commercial and office area of the city.

Commenting on the latest co-operation, Mr. Zhong Sheng Jian, Yanlord's Chairman and Chief Executive Officer, said, "The latest land acquisition in Tianjin reiterates our commitment to and confidence in the Tianjin real estate market, and will build on our extensive track record of developing quality residences which Tianjin citizens have grown to trust and support. Capitalising on our core competencies as well as the synergistic benefits from our partner - Ho Bee, we believe that the site will complement our existing initiatives and further strengthen our presence within the Bohai Rim real estate market."

Mr. Chua Thian Poh, Ho Bee's Chairman and Chief Executive Officer, said, "We are very pleased to continue our partnership with Yanlord, which has a wealth of experience in developing and marketing premium residential projects in Tianjin. Leveraging on their expertise, we are confident that the proposed residential project will be another successful cooperation between Ho Bee and Yanlord. Furthermore, this joint development is in line with Ho Bee's strategic policy to diversify overseas."

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About Yanlord:

Yanlord is a real estate developer focusing on developing high-endfully-fitted residential, commercial and integrated property projects in strategically selected key and high-growth cities in the PRC and Singapore. Yanlord has been listed on the Mainboard of the Singapore Exchange since June 2006. As at 31 December 2020, the Yanlord group's total asset was approximately RMB146.6 billion.

Since Yanlord's foray into the PRC property market in 1993, it has successfully developed a number of large-scale residential property developments with international communities of residents. Building on its established track record for developing high-end residential property developments in prime locations within affluent cities of the PRC, the "Yanlord" name has been developed into a premium brand synonymous with quality within the property development industry of the PRC. Typically, Yanlord's residential property developments are characterised by large-scale,multi-phased projects designed and built by international architects, leading designers and reputable contractors. Currently, Yanlord group has an established presence in 18 key high-growth cities within the six major economic regions of the PRC, namely:

• Yangtze River Delta - Shanghai, Nanjing, Suzhou, Hangzhou, Nantong, Yancheng, Taicang;
• Western China - Chengdu;
• Bohai Rim - Tianjin, Tangshan, Jinan and Shenyang;
• Greater Bay Area - Shenzhen, Zhuhai and Zhongshan;
• Hainan - Haikou and Sanya; and
• Central China - Wuhan.

In Singapore, Yanlord currently has two residential projects under development, namely Leedon Green and Dairy Farm Residences.

Since 2003, Yanlord has been developing high-quality commercial and integrated properties for long- term investment purpose, such as shopping malls, offices, serviced apartments and hotels. Currently, Yanlord holds a portfolio of core completed investment and hotel properties, including Yanlord Landmark and Hengye International Plaza in Chengdu; Yanlord Riverside Plaza in Tianjin; Yanlord Marina Centre in Zhuhai; Crowne Plaza Sanya Haitang Bay Resort in Sanya; and Yanlord International Apartments, Tower A and Yanlord Landmark in Nanjing, in the PRC. Yanlord group also holds a high- quality investment property portfolio and hotels in Singapore, including UE BizHub CITY (including Park Avenue Clemenceau), UE BizHub TOWER, UE BizHub WEST, Rochester Mall and Park Avenue Rochester and Park Avenue Robertson. These projects are generating a growing rental income and increase the asset value for Yanlord group.

More information about Yanlord Land Group Limited can be found on the company's website at www.yanlordland.com.

About Ho Bee:

Ho Bee Land Limited was listed on the Mainboard of the Singapore Exchange in 1999. Headquartered in Singapore, Ho Bee also has property investments and developments in Australia, China, United Kingdom and Europe. The real estate development and investment company has a portfolio that covers many quality residential, commercial and high-tech industrial projects since its establishment in 1987.

In Singapore, apart from being the leading developer of luxury homes in the exclusive residential enclave of Sentosa Cove, its portfolio of investment properties includes the commercial landmark in the one-north precinct, The Metropolis. Other buildings in its portfolio of overseas investment properties include Ropemaker Place, 1 St Martin's Le Grand, 60 St Martin's Lane, 39 Victoria Street, 110 Park Street, Apollo & Lunar House and 67 Lombard Street in London.

More information about Ho Bee Land Limited can be found on the company's website at www.hobee.com.

Analysts & Media Contact:
Michelle Sze	Desmond Woon
Head of Investor Relations	Executive Director
Yanlord Land Group Limited	Ho Bee Land Limited
Phone: [phone]	Phone: [phone]
Email: [e-mail]	Email: [e-mail]
	Josephine Lee
	Finance Director
	Ho Bee Land Limited
	Phone: [phone]
	Email: [e-mail]