Shimao Group: Two hotels in Tung Chung, Hong Kong have been officially taken over by the receivers on June 1st.

On June 24, Shimao Group announced on the Hong Kong Stock Exchange that one of its indirectly wholly-owned subsidiaries is a party to several project loans, with the properties of the Hong Kong East Tung Shimao Sheraton Hotel and the Hong Kong East Tung Four Points by Sheraton Hotel serving as collateral for these loans. The Board of Directors hereby informs the Company's shareholders that Ms. Ge Jun from AlixPartners Hong Kong, Limited and Mr. Patrick BANCE have been formally appointed as the joint and several receivers and managers of the hotels, effective from June 1, 2026. This appointment is made pursuant to the debt instruments and mortgage agreement signed between the Group's relevant subsidiaries and the security agent, which guarantee the syndicated loan agreement signed on July 27, 2020.