On 21 July 2021, after trading hours, Hopson Development Holdings Limited, the Subsidiary Guarantors and the Initial Purchasers entered into the Purchase Agreement in connection with the issue of the additional USD 37.5 million 6.8% senior notes due 2023. The Additional Notes will be guaranteed by the Subsidiary Guarantors. The Additional Notes will not be convertible into Shares of the Company. The Company is offering the Additional Notes only outside the United States in reliance on Regulation S under the Securities Act. The Additional Notes and the Subsidiary Guarantees have not been and will not be registered under the Securities Act or the securities laws of any other place. None of the Additional Notes will be offered to the public in Hong Kong or any connected person of the Company. The gross proceeds from the issue of the Additional Notes will be approximately USD 37.709 million (equivalent to approximately HKD 292.377 million), which, after deducting the underwriting discounts and commissions and other estimated expenses payable in connection with the issue, the Group intends to use for refinancing existing indebtedness. The Additional Notes and the Subsidiary Guarantees have not been and will not be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold within the United States and may only be offered, sold or delivered outside the United States in offshore transactions in reliance on Regulation S under the Securities Act. Accordingly, the Additional Notes are being offered and sold only outside the United States in offshore transactions in reliance on Regulation S. None of the Additional Notes will be offered to the public in Hong Kong or any connected person of the Company.