Shui On Land Limited reported group sales results for the first quarter ended 31 March 2023. For the first quarter of 2023, contracted property sales amounted to RMB 1,530 million, comprising residential property sales of RMB 1,306 million and commercial property sales of RMB 224 million. For the first quarter of 2023, total gross floor area ("GFA") of contracted property sales were 52,000 square metres ("sq.

m.") and 139 units of carpark. The average selling price of the signed contracts respecting property sales for the first quarter of 2023 was RMB 29,400 per sq. m. In addition to the contracted property sales reported above, as of 31 March 2023, the Group had recorded a total of RMB 411 million of subscribed sales, which is expected to be subsequently turned into contracted property sales in the following months.