General Announcement::VOLUNTARY ANNOUNCEMENT PARTIAL REPURCHASE OF SENIOR NOTES

This announcement is not for distribution, directly or indirectly, in or into the United States. This announcement and the information contained herein does not constitute or form part of an offer to sell securities in the United States. Securities may not be offered or sold in the United States unless registered pursuant to the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to an applicable exemption from such registration requirement. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about our company and management, as well as financial statements. The securities referred to herein have not been and will not be registered under the Securities Act and no public offering of securities will be made in the United States.

REDCO PROPERTIES GROUP LIMITED

力 高 地 產 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1622)

VOLUNTARY ANNOUNCEMENT

PARTIAL REPURCHASE OF SENIOR NOTES IN

THE AGGREGATE PRINCIPAL AMOUNT OF US$68,348,000

This announcement is made by Redco Properties Group Limited (the "Company") on a voluntary basis.

The board of directors of the Company (the "Board") hereby announces that, the Company has made partial repurchase of the Notes (as defined below) in the aggregate principal amount of US$68,348,000 in the open market.

References are made to the following senior notes issued by the Company and listed on Singapore Exchange Securities Trading Limited (collectively, the "Notes"):

1. the 8% senior notes due 2022 (ISIN: XS2331603774) ("2022 Note I");
2. the 11% senior notes due 2022 (ISIN: XS2204388644) ("2022 Note II"); and
3. the 9.9% senior notes due 2024 (ISIN: XS2231089546) ("2024 Note").

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The details of the repurchase of Notes are as follows:

					Repurchased
			Principal	Notes as a
			amount of	percentage of
		Notes being	the Notes
Notes		repurchased	originally issued
			US$
2022	Note I	38,500,000		13.51%
2022	Note II	15,611,000		4.87%
2024	Note		14,237,000		5.35%
Total		68,348,000

Subject to the Board's discretion, the repurchased Notes may or may not be cancelled. The Company will continue to monitor market conditions and its financial structure and may further repurchase its senior notes as and when appropriate.

The Company may or may not make any further repurchase of senior notes in the future. Noteholders and potential investors should note that any on-market purchase of senior notes from time to time by the Company will be at the Board's sole and absolute discretion. There is no assurance of the timing, amount or price of any repurchase of the senior notes or whether the Company will make any further repurchase at all. Noteholders and potential investors should therefore exercise caution when dealing in any senior notes of the Company.

On behalf of the Board

Redco Properties Group Limited

Wong Yeuk Hung

Chairman

Hong Kong, 15 November 2021

As at the date of this announcement, the executive directors of the Company are Mr. Wong Yeuk Hung JP, Mr. Huang Ruoqing and Mr. Tang Chengyong; and the independent non-executive directors of the Company are Mr. Chau On Ta Yuen SBS,BBS, Dr. Tam Kam Kau GBS, SBS, JP and Mr. Yip Tai Him.

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