Investor Presentaiton

Tightening Policies on Industrial Property Market In the Past 3 Years . First Stage Starting-up (2007-2012) Opinions on Upgrade and Reformation of Industrial Block Shenzhen Urban Renewal Measures Implementations on Shenzhen Unban Renewal Measures Second Stage Developing (2013-2017) Opinions of the Shenzhen Municipal People's Government on Optimizing the Allocation of Space Resources and Promoting Industrial Transformation and Upgrading Operational Guidelines for Upgrade and Reconstruction of Old Industrial Zones in Shenzhen for Comprehensive Improvement (Trial) Interim Measures for Strengthening and Improving the Implementation of Urban Renewal • Third Stage Regulation & Restriction (2018 to now) Notice on Further Strengthening Real Estate Regulation and Promoting the Stable and Healthy Development of the Real Estate Market (July 2018) • Measures on Administration for Industrial Block of Shenzhen (August 2018) • Measures for the Administration of the Transfer of Industrial Buildings and Supporting Space in Shenzhen (January 2020) Effects and Challenges on Industrial Property Market Bubble and oversupply in industrial property market caused by stimulating policies issued during 2013 and 2017 Reduced attractiveness due to higher thresholds for buyers and lessees (qualified enterprises and persons only) Difficulty on leasing and sales due to restrictions on subdivision of title Risk of severe penalty due to breach of strict industrial supervision agreement, including failure to achieve tax and industrial production targets INVESTOR PRESENTATION A-3 NAMTAI

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