Investor Presentaiton

• Accelerating conversion of urban redevelopment entering a profit-reaping period (cont.) Urban redevelopment projects enrich landbank and bring better profit, laying a solid foundation for future development and helping to stabilize margins. Aoyuan's urban redevelopment projects - Guangzhou Aoyuan Panyu Nitrogen Fertilizer Plant and Zhuhai Xiangzhou Cuiwei Village are positioned as high-end "Residence Class" series. Both are expected to launch for presales in 3Q2021 Case study 1: Guangzhou Panyu Nitrogen Fertilizer Plant — Guangzhou Aoyuan Henderson The Residence Class Signed official cooperation agreement in Jan 2017; introduced Henderson Land into joint development in Apr 2018; won the bid in public land auction together with Henderson Land in Sep 2020 and entered secondary development phase Location: in Xinzao Town, Panyu, Guangzhou; close to Guangzhou Higher Education Mega Centre 恒基 (CGI) (actual image) (actual image) • Total GFA: 300,000 sqm • Avg. land cost: RMB22,280 per sqm Est. ASP: RMB48,000 per sqm • Est. saleable resources: approx. RMB14.3bn Д 奥园恒基・学苑壹号 THE RESIDENCE CLASS • Est. GPM / NPM: 35% / 15% • Launch date: 3Q2021 SALES CENTER ASFC (CGI) (actual image) 요 37

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