Greentown Management : VOLUNTARY ANNOUNCEMENT - BUSINESS UPDATE

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GREENTOWN MANAGEMENT HOLDINGS COMPANY LIMITED

綠 城 管 理 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 09979)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE

This announcement is made by Greentown Management Holdings Company Limited (the "Company", and together with its joint ventures, the "Group") on a voluntary basis.

The board of directors (the "Board") of the Company wishes to update the shareholders and potential investors of the Company on the business development of the Group.

As at 31 March 2021, the total GFA of the newly contracted projects under project management business of the Group reached 9.02 million sq.m., accounted for 48.3% of the completion target of last year; the estimated amount of project management fee for the newly contracted projects under project management business was RMB2.34 billion, accounted for 40.3% of the completion target of last year.

The above-mentioned data is unaudited and is based on preliminary internal information of the Group, which may differ from figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company on an annual or half-yearly basis due to various uncertainties during the process of collating such sales data. As such, the above data, which is preliminary in nature, is provided for investors' reference only. Investors are advised to exercise caution and not to place undue reliance on such data when dealing in the securities of the Company. In case of any doubt, investors should seek independent advice from professional or financial advisers.

By Order of the Board

Greentown Management Holdings Company Limited

Li Jun

Chief Executive Officer and Executive Director

Hangzhou, PRC, 29 April 2021

As at the date of this announcement, the Board of the Company comprises Mr. Guo Jiafeng and Mr. Zhang Yadong as non-executive Directors, Mr. Li Jun and Mr. Lin Sanjiu as executive Directors, and Mr. Lin Zhihong, Dr. Ding Zuyu and Mr. Chan Yan Kwan Andy as independent non-executive Directors.