Modern Land Co., Limited announced that on 7 July 2020 and 1 September 2020 relating to the issuance of the USD 300,000,000 11.5% green senior notes due 2022 and the announcements of the company dated 6 January 2021, 11 January 2021, 26 January 2021 and 1 February 2021 relating to the issuance of the USD 321,000,000 9.8% green senior notes due 2023. Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcements. In accordance with the terms of the 2022 Notes and the 2023 Notes, the Company made the following on-market repurchases: on 9 September 2021, the Company repurchased the 2022 Notes in the aggregate principal amount of USD 500,000, representing approximately 0.17% of the initial principal amount of the 2022 Notes and on 29 July 2021, the Company repurchased the 2023 Notes in the aggregate principal amount of USD 500,000, representing approximately 0.16% of the initial principal amount of the 2023 Notes, which may or may not be cancelled subject to the Board's discretion. The Company previously repurchased the 2022 Notes in the principal amount of USD 1,000,000 on 8 July 2021 and the 2023 Notes in the principal amount of USD 2,000,000 on 30 June 2021, respectively. If and after the Repurchased 2022 Notes, the Repurchased 2023 Notes and the Previously Repurchased Notes are cancelled, the principal amount of the 2022 Notes remaining outstanding would be USD 298,500,000, representing approximately 99.50% of the initial principal amount of the 2022 Notes while the principal amount of the 2023 Notes remaining outstanding would be USD 318,500,000, representing approximately 99.22% of the initial principal amount of the 2023 Notes. Further announcement will be made by the Company following the cancellation of any of the repurchased senior notes. The repurchases of the 2022 Notes and the 2023 Notes were conducted based on the market conditions and will improve the Company's debt structure. The Company will continue to monitor the market conditions, its financial structure and may further repurchase its senior notes as and when appropriate.