Shimao : Voluntary Announcement – Clarification

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 813)

VOLUNTARY ANNOUNCEMENT

CLARIFICATION

This announcement is made by Shimao Group Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.

The Company noted certain media reports containing false information about the Group. The Company would like to clarify as follows:

1. Certain media reports have alleged that the Group has not fulfilled its financial obligations under a fund (the "Fund"). The Company would like to clarify that the borrower under the Fund is not a subsidiary of the Company. Two subsidiaries of the Group have provided guarantees for the financial obligation of the borrower under the Fund. It is the Company's understanding that the borrower and the Fund are in discussion on the repayment arrangement.
2. As of the date of this announcement, the Company has no outstanding asset-backed securities due and payable.
3. The Company has not entered into a preliminary agreement in relation to the disposal of Shanghai Shimao International Plaza.
4. The Company is in discussions with certain potential purchasers and may consider disposing of certain properties if the terms and conditions are appropriate in order to reduce the indebtedness of the Group.

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Shareholders and potential investors are advised not to rely on market rumours in relation to the Group. Any information concerning the Group should only be based on the Company's official announcement.

Shareholders and potential investors are reminded to exercise caution when dealing in the securities of the Company.

On behalf of the Board

Shimao Group Holdings Limited

Hui Wing Mau

Chairman

Hong Kong, 11 January 2022

As at the date of this announcement, the board of the Company comprises five Executive Directors, namely, Mr. Hui Wing Mau (Chairman), Mr. Hui Sai Tan, Jason (Vice Chairman and President), Ms. Tang Fei, Mr. Lu Yi and Mr. Xie Kun; one Non-executive Director, namely, Mr. Ye Mingjie; and three Independent Non-executive Directors, namely, Ms. Kan Lai Kuen, Alice, Mr. Lyu Hong Bing and Mr. Lam Ching Kam.

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