Spring Real Estate Investment Trust announced unaudited operating results for the three months ended March 31, 2023. For the three months ended 31 March 2023, the CCP Property achieved an average monthly passing rent of
approximately RMB 349 per square meter ("sqm"), remaining unchanged compared to the previous quarter, and the average occupancy rate was approximately 90%, representing a decrease of 2 percentage point from that of
the previous quarter.