HOUSING DEVELOPMENT CORPORATION Investors Presentation

3 Hulhumalé is the largest strategic large-scale development in Maldives Hulhumalé Phase I ■ Covers a total land area of 188 hectares ■First settlement officially inaugurated in May 2004 with the resident population growing from 1,000 in 2004 to 50,000 in 2019 ■Completed projects include 704 social housing unit project, Hulhule-Hulhumalé- Airport link road, Hulhumalé N1 Primary and Secondary School and Fahiveni Community Center ■Land allocation and construction expected to be completed by 2025 and 2030 respectively Hulhumalé Phase II Extension of Phase I covering a land area of 240 hectares ■Connecting bridges to Phase I completed in April 2020 ■Completed projects include 7,000 social housing unit projects and upcoming projects include 1,530 affordable housing unit project ■Land allocation and construction expected to be completed by 2030 and 2035 respectively Upon completion: Hulhumalé イ HOUSING DEVELOPMENT CORPORATION is expected to house half the population of Maldives, providing Maldivians with affordable social housing as well as improved living conditions, with less congested traffic and pollution Smart City of the Maldives Introduction of Fibre Optic GPON network to replace traditional cables alongside a transport master plan which includes smart city components such as Smart Traffic Management Systems, Automatic Surveillance Strategic position in Maldives with direct road access to Malé 20 minutes speedboat ride to top resorts in Maldives NEIGHBORH Hulhumalé Hulhuma 5-20 minutes 9KM Speed Boag 3-5mins AAirport Boat: 15mins-25mins Hulhule-Male Ferry OHulhule Isi drive to the Male-Hubule Ferry- capital city of Malé Malé Artificial Beach uhulaa BRIDGE 15 minutes drive to Velana Internation al Airport Sinamalé Bridge Phase II expected to triple capacity Phase I Phase II Residents Capacity: 90K 120K Area: 188 hectares 214 hectares Phase I Phase II Hulhumalé is developed as an expansion of Malé City and is positioned as the next smart city Source: Company information. GPON refers to Gigabit-capable Passive Optical Networks. 16

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