Shimao Services : VOLUNTARY ANNOUNCEMENT - BECOMING A CONSTITUENT OF HANG SENG COMPOSITE INDEX

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Shimao Services Holdings Limited 世茂服務控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 873)

VOLUNTARY ANNOUNCEMENT

BECOMING A CONSTITUENT OF HANG SENG COMPOSITE INDEX

This announcement is made by Shimao Services Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to provide shareholders of the Company and potential investors on the Group's latest development.

The board of directors of the Company (the "Board") is pleased to announce that the Company has been selected as a constituent stock of the Hang Seng Composite Index ("HSCI") by Hang Seng Indexes Company Limited, with effect from 15 March 2021. Being enlisted as a constituent stock of the HSCI, it represents the Company fulfills preliminary conditions to becoming a candidate for the "Shenzhen-Hong Kong Stock Connect Program".

The Board is of the view that the inclusion of the Company into the HSCI reflects the capital market's recognition of the Group's positive business performance and growth outlook and is expected such inclusion will expand the shareholder base and increase trading liquidity of the shares of the Company, resulting in enhanced value of investment and reputation of the Company in the capital market.

The Board would like to thank its shareholders and investors for their support. The Company strives to make use of its competitive advantage to develop its business and create value for its shareholders.

On behalf of the Board Shimao Services Holdings Limited

Hui Sai Tan, Jason

Chairman

Hong Kong, 1 March 2021

As at the date of this announcement, the Board comprises four Executive Directors, namely Mr. Hui Sai Tan, Jason (Chairman), Mr. Ye Mingjie (President), Mr. Cao Shiyang and Mr. Cai Wenwei; two Non-executive Directors, namely, Ms. Tang Fei and Mr. Sun Yan; and three Independent Non-executive Directors, namely, Ms. Kan Lai Kuen, Alice, Mr. Gu Yunchang and Ms. Zhou Xinyi.