Investor Presentaiton

Asset-light Business Model Represents Future Trend China Property Market: Past, Present and Future Past Era of Land / Capital Present Management Capability New urbanization / Urban renewal / Digital economy Strategic Transformation Future to Asset-light Model Major US homebuilder use asset-light model €9 $ Asset-light Model is the Future Trend A 中原建业 Revenue ✓ ✓ Management fees / service fees Leverage brand and development capabilities Investment Not driven by investment ✓ CENTRAL CHINA MGT Leverage ✓ No leverage ✓ No reliance on external financing ✓ High margin Profit ✓ Major cost is personnel cost 10

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