#1笃行不忘 向阳而望 Financial Year 2022 Interim Results Presentation 30 August, 2022 LGARDEN碧桂園 给您一个五星级的家 30 初心。良心,匠心 Stock Code: 2007 (Incorporated in the Cayman Islands with limited liability)#2Disclaimer COUNTRY GARDEN 碧桂園 30° This presentation may contain forward-looking statements. Any such forward-looking statements are based on a number of assumptions about the operations of the Country Garden Holdings Company Limited (the "Company") and factors beyond the Company's control and are subject to significant risks and uncertainties, and accordingly, actual results may differ materially from these forward-looking statements. The Company undertakes no obligation to update these forward- looking statements for events or circumstances that occur subsequent to such dates. The information in this presentation should be considered in the context of the circumstances prevailing at the time of its presentation and has not been, and will not be, updated to reflect material developments which may occur after the date of this presentation. The slides forming part of this presentation have been prepared solely as a support for oral discussion about background information about the Company. This presentation also contains information and statistics relating to the China and property development industry. The Company has derived such information and data from unofficial sources, without independent verification. The Company cannot ensure that these sources have compiled such data and information on the same basis or with the same degree of accuracy or completeness as are found in other industries. You should not place undue reliance on statements in this presentation regarding the property development industry. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information or opinion contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. Information and opinion contained in this presentation may be based on or derived from the judgment and opinion of the management of the Company. Such information is not always capable of verification or validation. None of the Company or financial adviser of the Company, or any of their respective directors, officers, employees, agents or advisers shall be in any way responsible for the contents hereof, or shall be liable for any loss arising from use of the information contained in this presentation or otherwise arising in connection therewith. This presentation does not take into consideration the investment objectives, financial situation or particular needs of any particular investor. It shall not to be construed as a solicitation or an offer or invitation to buy or sell any securities or related financial instruments. No part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation may not be copied or otherwise reproduced. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. No public offer of securities is to be made by the Company in the United States. © 2022 Country Garden Holdings Company Limited. All rights reserved. 初心·良心·匠心 1#3Content Results Highlights 2 Business Overview Financial Review 4 Landbank Diversified 5 Development Social 6 Responsibility#4碧桂園 30° 01 Results Highlights Country Garden Silver Beach Hotel Huizhou, Guangdong#5Summary of Interim Results 2022 Attributable Contracted Sales LIIT IIII 185.10 bn overall sell-through rate 50% Total Debt 293.68 bn $ down by 7.6% since the end of 2021 Attributable Cash Collection 170.29 bn attri. cash collection rate 92% above 90% for 7 consecutive years Net Gearing Ratio 48.1% maintain below 60% for several years Operating Cash Flow³ 5.25 bn Liabilities to asset ratio4 72.1% decreasing since 1H 2020 Revenue COUNTRY GARDEN 碧桂園 162.36 bn down by 30.9% YoY Gross Profit¹ 17.21 bn * gross profit margin 10.6% Core Net Profit² 4.91 bn down by 67.7% YoY Notes 1. Before LAT 2. The core net profit attributable to the owners of the Company represents realized earnings of this period attributable to owners of the Company excluding effects such as fair value changes and net foreign exchange gains/loses 3. Consolidated operating cash flow 4. Liabilities to asset ratio after excluding contract liabilities and output value-added taxes related to receipt in advance from customers 4#6碧桂園 30° 02 Business Review Country Garden Banshan Yunting Bengbu, Anhui f 碧桂園·半山云庭 平山 本山永良 14*#7Solid sales effectively hedge against market volatilities YoY changes in sales value (1H22) Top 100 OOC -51% Top 10 COGARD g DOO BOO -39% -45% Attributable Contracted By City Types Located Located in tier 2 cities 28% in tier 1 cities 3% Located in tier 3&4 cities 69% Sales in 1H22 COUNTRY GARDEN 碧桂園 By Product Types Parking lots and commercial Low-rise residential 3% 10% 0 Fluctuation in Attributable Contracted Sales by City Types Tier 1 Tier 2 Tier 3&4 Overall Market Share > 20% Cities with large Market Share 10%-20% market shares Market Share 5%-10% -37% -40% -39% -44% 30° High-rise residential 87% 初心,良心·匠心 Shaoguan, Meizhou, Yangjiang, Yunfu, Chaozhou in Guangdong, Huanggang in Hubei, Jinzhou in Liaoning, Wuhai in Inner Mongolia etc. totaling 17 cities Maoming, Heyuan, Shanwei, Qingyuan, Zhaoying in Guangdong, Hechi, Yulin in Guangxi, Qionghai in Hainan, Suizhou in Hubei, Chaoyang in Liaoning, Xing'an League in Inner Mongolia, Yan'an in Shaanxi etc. totaling 44 cities Anqing, Lu'an in Anhui, Shantou, Jiangmen, Huizhou in Guangdong, Beihai in Guangxi, Haikou in Hainan, Xinxiang in Henan, Enshi in Hubei, Hengyang, Changde in Hunan, Taizhou in Jiangsu, Liaocheng in Shandong, Weinan in Shaanxi, Huzhou in Zhejiang etc. totaling 94 cities 6#8Delivering five-star living for you No. of cities No. of batches No. of apartments 214 1,070 > 250,000 Loudi Country Garden Zhengyang Times 88折 碧桂園 Qingyuan Country Garden Future City 碧桂園·未来城 Delivery ratio 438 projects deliver ratio in the first month >75% COUNTRY GARDEN 碧桂園 Ownership certificates upon delivery 165 projects 30° 初心一良心,匠心 Taizhou Country Garden DJBJY In the first half of the year, the Company delivered 250,000 flats in 1,070 batches on time, with home buyers receiving ownership certificates upon the delivery of flats at 165 property projects. The satisfaction score for delivery quality and maintenance service increased steadily by more than 8% compared with the previous year, and the overall satisfaction score increased by 4%. Note: The data includes projects which belong to Group together with its joint ventures and associates 7#9碧桂園 03 Financial Review Country Garden Tangyue Mansion Lianyungang, Jiangsu#10Financial indicators remain stable with continuous debt structure optimization S&P BB+ Moody's Bal Fitch BB+ CCXI AAA COUNTRY GARDEN 碧桂園 30° 初心·良心·匠心 Constantly improving indicators of the "Three Red Lines" Cash and cash equivalent Short-term debt Short-term debt as % of total debt(Right axis) 70% Net gearing Liabilities to asset ratio¹(Right axis) 85% 200 30% Q 29.5% 80.6% 79.5% 100 0 26.8% 60% 24.9% 24.8% 25% 58.1% 55.6% 50% 49.7% 48.1% 183.6 96.2 186.2 86.8 181.3 79.0 148.0 72.9 45.4% 20% 40% 65% 2020 1H 2021 2021 1H 2022 1H 2020 2020 1H 2021 2021 1H 2022 77.3% 74.3% 75% 72.1% Note: 1.Liabilities to asset ratio after excluding contract liabilities and output value-added taxes related to receipt in advance from customers 6#11Financial indicators remain stable with continuous debt structure optimization (Cont'd) Interest-bearing liabilities declining steadily with well-managed debt maturities COUNTRY GARDEN 碧桂園 30° 初心,良心、匠心 369.6 (RMB billion) 342.0 326.5 2019 Debt by types as of 30 June 2022 (RMB billion) Convertible bonds 5.4 2% Corporate bonds; 34.0; 11% Offshore senior notes; 73.1; 25% 1H 2020 2020 324.2 317.9 293.7 1H 2021 Debt by currency as of 30 June 2022 (RMB billion) Onshore Others¹ loan; 6.4 139.8; 48% 2% RMB Offshore 171.9 loan; 41.4; 59% 14% Note: Debts are shown in consolidated basis, including accrued interests as at 30 June 2022 USD 89.4 30% 2021 1H 2022 Debt maturity as of 30 June 2022 2023 HKD 103.9 26.0 35% 9% (RMB billion) 2024 69.7 24% 2025 35.5 12% 2026 23.0 8% 2H 2022; 38.4; 13% 2027 and onwards 23.2 8% 10#12Proactive debt management and diversification of financing channels Early redemption of senior notes The Company repurchased USD411 million senior notes due in July in advance in the first half of 2022. Subsequently, all senior notes due this year were repaid in full. Purchase of bonds by.... directors, supervisors and senior management As of 29 July, directors, supervisors and the senior management has purchased a total of RMB59.99 million corporate bonds of the Company in the secondary market. Issuing credit bonds The company issued two ABS products in January, accounted for RMB1.242 bn In May, the company was selected as one of the exemplary developers and issued RMB500 million bonds to qualified investors through the "bond issuance + credit protection" scheme. Shares placement wwwww On July 27, the Company placed 870 million new shares to raise approx. RMB2.44 billion. The placing effectively optimized the Company's debt structure and capital structure. Repurchase of senior notes From late 2021 to May 2022, the Company repurchased senior notes of a cumulative amount of USD55.7 million. Scrip dividends Controlling shareholder has chosen to receive 2021 dividends totaling RMB5.15 billion in the form of scrip dividends. COUNTRY GARDEN 碧桂園 Purchase of bonds by legal entities On 14 July, the Company announced that a wholly- owned subsidiary of the Group purchased corporate bonds issued by Country Garden Real Estate Group Co., Ltd. in the domestic secondary market in a market- oriented manner, with an initial tranche of no more than RMB1.0 billion. As of 26 August, the company's controlling shareholder has purchased a total of RMB280.55 million of corporate bond. 11#13Effective controls on expenditures, enhancing overall competitiveness Revenue (RMB bn) Consolidated SG&A Ratio COUNTRY GARDEN 碧桂園 30° 初心·良心·匠心 Administrative Expenses Selling and Marketing Cost -0- Total 523.1 485.9 462.9 379.1 7.6% 7.7% 7.0% 6.0% 5.9% 5.5% 5.5% 226.9 234.9 162.4 H 2017 2018 2019 2020 2021 1H 2021 1H 2022 2017 2018 2019 2020 2021 1H 2021 1H 2022 In the first half of the year, the Company has further strengthened its controls on SG&A expenses, with a decrease of 36.3% YoY to 8.86bn, accounted for 5.5% of the revenue, drop by 0.4 PCT YOY. 12#14Available cash management • • Generating new sources of cash inflows Improving cash collection efficiency Average mortgage loan days were 19 days earlier compared with the same period of last year Attributable cash collection ratio of newly signed contracts increased by two percentage points Insulating risks from business partners To improve the efficiency of use of funds at project level for both parties, the Company has initiated project separation with 39 partners Comprehensive review of assets revitalized 6.9bn in the 1H22, serving as an effective supplement to company's cash flow ✓ Short to mid-term cash flow management Rolling Weekly Funding Plan "Project - Region - Group" Three-level cash flow management Rolling cash flow plan for the next 12 months Establishing closed-loop management according to sales fluctuations, the condition of direct financing channels, debt maturity arrangements, cash, and other factors Net operating cash flow keep positive in 1H 2022 Cash Flow 1H 2022 ✓ COUNTRY GARDEN 碧桂園 Reducing expenditure Rescheduling construction progress according to sales Actively control 'invalid output', particularly from slow-flow projects, to reduce future payment pressure Revitalize funds and arrange expenditures flexibly Encouraging legitimate use of funds in the escrow account for project level payments, to mitigate the reliance on group level cash ✓ Control on expenses Breaking down the types of expenses and reduce unnecessary expenses through tightening business hospitality standards, reducing the use of outsourcing, etc.; Value (RMB bn) Cash collection from sales and other cash inflow Expenditure on land and construction 180.28 -135.53 Tax expenses and other cash outflows Net operating cash inflow -39.50 projected outputs, focusing on projects under construction instead of project nearly sold out 5.25 Budget is allocated according to 30° 初心·良心·匠心 13#15雲顶 碧桂園雲頂 碧桂園 30° 04 Landbank Country Garden Genting Pingtan, Fujian#16COUNTRY GARDEN 碧桂園 Newly added landbank: Acquired new land through prudent and opportune investment via diverse channels Newly acquired attr. salable resources 78% Located in top-five city clusters By attr. land cost M&A 22% Attributable ratio 91% by attributable land cost Tier 3&4 cities 29% Cost per sq.m. RMB B6,204/m Total no. of projects 9 obtained through M&A : 2 potential projects matured: 7 Maturing potential resources to salable resources 78% Newly acquired lands in 1H 2022 Annualized rate of Attr. land cost City Cluster return on equity (bn) (finalized) Yangtze River Delta 1.09 54% Pearl River Delta Bohai Rim 4.13 24% 0.25 36% Tier 2 cities 71% Other provinces Total 0.63 30% 6.09 27% In the first half of the year, the Company maintained a prudent approach to Investment approach by acquiring premium lands opportunely to replenish its land bank proportionately. The consolidated annualized rate of return of the acquired land bank reached 27%, laying a solid foundation for future development. 30° 15 15 初心·良心·匠心#17Total landbank: balanced and diverse resources supporting future development -Total Attributable Salable Resources: RMB1,507.8 bn- COUNTRY GARDEN 碧桂園 30° 初心一良心,匠心 Acquired Attributable Salable Resources¹: RMB1,216.1 bn →→ Potential Attributable Salable Resources: RMB291.7 bn Breakdown of landbank by city types Tier 3&4 ■Tier 2 ■Tier 1 7% 20% Breakdown of landbank by city clusters 30% 30% 28% .19% 18% 8% 25% 63% By located cities 50% By targeting cities Guangdong Yangtze River Delta Bohai Rim Middle Yangtze River Note: 1.As at 30 June 2022, attributable salable resources are estimated by calculating expected ASP, expected GFA and attributable ratio, not including carpark Other province 16#18Abundant salable resources in mainland China in 2022 Attributable salable resources in 2022 Incoming salable resources Tier 1&2 cities COUNTRY GARDEN 碧桂園 Shanghai Minhang Bai Yue Qianwan--- 49% 34% No less than 530 bn No less than 530 bn DAY 厠湾 LA New launches 51% Tier 3&4 cities 66% City Top-ranking projects Attri. salable resources as at August 2022 (RMB bn) Sell-through rate as at the of August Shanghai Baoshan Bai Yue Jiangwan--- 2022 Shanghai Shanghai Shanghai Shaoguan Wuhu Minhang Country Garden Bai Yue Qianwan Baoshan Country Garden Bai Yue Jiangwan Nanxiang Country Garden Bai Yue Xiangwan 4.1 100% 3.9 100% 1.8 99% Shaoguan Country Garden Sun City Jiujiang Country Garden Golden Age 1.4 74% 0.9 74% Dongguan Zhongshan Anqing Hengli Country Garden Pine Lake Pearl Country Garden Phoenix City Anqing Country Garden 0.9 91% 0.8 79% 0.8 79% Xin Xiang Changyuan Country Garden Jiuhuatao 0.6 75% Bozhou Bozhou Country Garden Galaxy Miles 0.6 77% 30° 初心-良心-匠心 17#19碧桂園 ← 環牌 桂園 「項城碧桂園] 05 Diversified Development Xiangcheng Country Garden, Zhoukou, Henan 城碧桂閣#20System of Technology-enabled Construction Traditional construction Technology-enabled construction COUNTRY GARDEN 碧桂園 30° 初心一良心、匠心 Planning and design BIM Design Materials management Prefabricated construction components Construction works Construction Robots Project operation and maintenance Digitalized management Carrying out in-depth design and modelling with BIM, thus providing a basic information platform for intelligentized management Combining prefabricated plates for walls, prefabricated staircases and prefabricated protruding window frames with such new-technology products as plastic formwork and pre-shaped rebars for efficient, coordinated operation Designing and developing robots for architectural construction and other types of construction to advance construction efficiency, through a substitution of construction works that previously conducted by manpower Realizing Al-enabled decision-making through a management system that covers the entire life cycle of a project from design, construction works to operation and management 19#21System of Technology-enabled Construction: Construction Robots 30 types commercialized COUNTRY GARDEN 碧桂園 30° 初心·良心·匠心 1,200 units delivered Applications Providing service in 28 provinces Applied in 550+ projects Completed work in over 10+ mn m Architectural ground leveling, ground surface troweling Mobile intelligent concrete placing machine Construction Winding machine for spraying multi-colour paints/latex paint on exterior wall Exterior Wall Construction Secondary Structure Interior wall polishing Concrete ceiling polishing Screw hole plugging Interior decoration Interior spraying Wallpapering Wall tile-paving Ancillary Basement On-site surveying and measuring Building cleaning Construction Smart Elevating Platform 4.5m/2.4m high spraying construction robots for basement car parks Undertaking construction works for external parties S Basement troweling ΠΗΓ M 中国中铁 中国交通建设 中铁建工集团 CHINA COMMUNICATIONS CONSTRUCTION &EN ♡中核集团 MCC MCC 北京建工 CNNC 中建三局 中国建筑五局 中建八局 CRCEG 中国五冶 特区建工 中国二冶 四建公司 西安高新 SHENZHEN SEZ CONSTRUCTION GROUP CO.LTD Note: The above data was as of 31 July 2022. 20 20#22System of Technology-enabled Construction: Overall Advantage 博智林机器人 Bright Dream Robotics A set of robots laying concrete on construction sites Reducing manpower for construction 05 Solution to labor problems Substituting for manpower in repetitive tasks Solving problems of 01 Improved safety Substituting workers in highly dangerous tasks. Reducing industrial accidents Reducing human contact with both particulates and the environment contaminated by paint. Decreasing cases of Potential occupational disease 02 Raising efficiency COUNTRY GARDEN 碧桂園 30° 初心一良心、匠心 labor shortage and high wages • Facilitating the upgrading of both the industry and Application Value skilled labor of Construction Far more efficient than workers Round-the-clock automated operation Construction robots are 2 to 7 times more efficient than worker Reusing construction waste; mobile brick-making vehicles directly convert construction waste into recycled building materials 04 Saving energy and reducing emission Robots Reusing construction waste. Reducing wastage. decreasing pollution and carbon emissions at factories Good consistency in construction work with a high pass rate Minimizing quality problem due to human error 03 Enhancing quality Surveying and measuring robots with measurement accuracy of +1mm, far higher than workers' 21#23Venture Capital and successful cases Cutting-edge technology and advanced manufacturing Portfolio of equity investments The equity investment portfolio¹ has a value of about RMB20 bn Progress of investments³ 18% completed IPO 12% applied for listing 31% completed next round financing SVOLT COUNTRY GARDEN 碧桂園 cxmt 长鑫存储技术有限公司 Changxin Memory Technologies inc √ 紫光展锐 ® UNI SOC LANDSPACE 蓝箭航天 蜂巢能源 38% מזים 比亚迪 半导体 COMPART SOLUTIONS WITHOUT BOUNDARIES S SJSEMI 壁仞科技 BIREN TECHNOLOGY PPPP NEW Consumption 20% RUIPENC 得见小面 CHALI 新瑞鹏宠物医疗集团 Value Chain 17% + 贝壳 CHINDATA 找房大平台 GROUP PCTEAM 三一筑工 Health industry 9% Bluepha 蓝晶微生物 ny 新里程 0 MicroPort™ New Journey CRM 1. Book value of the equity investments held as at 30 June 2022 The above data represent the percentages of the various categories of invested companies in the total as at 30 June 2022 2. 3. The percentages represent the cumulative investment cost, include exit investment; data as at 30 June 2022 Note: 元 宝配集团 BAOYUN GROUP 初心-良心一心 22 22#24碧桂園 30° 06 Social Responsibility Central peninsula Country Garden, Haikou, Hainan#25Deeply involved in conversion to green, low-carbon practices, reducing industry's carbon emissions • • Speeding up development of green construction 61 new projects that meet the national green building evaluation standard in 2021 A cumulative total of 220 mn sq.m. of GFA meet the national green building evaluation standard as at the end of 2021 Proprietary mobile brick-making vehicles recycle construction waste for reuse, converting 450 tons of construction waste into 200,000 colorful bricks COUNTRY GARDEN 碧桂園 30° 初心,良心,匠心 W | 热烈庆祝建废制砖车累计消的建筑垃圾450吨/生产面積20万以 Colorful bricks for pavements Mobile brick-making vehicles that recycle construction waste 217 2017 755 2018 997 936 872 2019 2020 Active participation in ESG ratings Scores on various performance indicators rise year by year MSCI Hang Seng Corporate Sustainability Index 2021 Series Dow Jones Sustainability Indexes The cumulative number of property projects meeting the national green building evaluation standards 24 24#26Remaining committed to charity Donations to charitable causes > RMB10 bn 授予:楊園蛋 全国脱贫攻坚 先进个人 No. of people assisted Nationwide effort to help poor families in in nationwide poverty alleviation 57 counties of 16 provinces > 490,000 No. of students subsidized > 500,000 Mr Yeung Kwok Keung, Chairman of Country Garden, was awarded the "National Advanced Individual for Poverty Alleviation" by the State Council Zhongming Bursary Programme for Undergraduates A cumulative total of 12,000 22 colleges in Guangdong undergraduates at subsidized since 广东省仲明助学志愿服务促进会第一次会员大会 1997; Encouraging over 100,000 take charitable undergraduates to causes Talent cultivation A cumulative total of 1,658 vocational training classes conducted for over 100,000 people 獻愛心 開 COUNTRY GARDEN 碧桂園 30° 初心·良心·匠心 No. of people trained in vocational skills > 100,000 國强公益基金會 Guoqiang Foundation Industrial revival 大览无版 ·社会各界消費機票事或 消费之夜 战痘战贫与你同区 520 滿普接實上行活动 MALELELEL 我爱您消费法藝 Consumption stimulation campaigns conducted regularly to foster agricultural sector, commercializing over 690 produces with sales totalling RMB410 mn and benefitting over 175,000 people. 25#27Thank you for your trust and support in Country Garden!