The board of directors of China Merchants Land Limited announces that on 27 September 2023, the Company entered into a Facility Letter with a bank pursuant to which the bank shall make available to the Company a revolving loan facility in the principal amount of CNY1,100,000,000. The Facility Letter has imposed certain covenants relating to specific performances of the Company's controlling shareholders. The maturity date of the Loan Facility is 16 May 2026.

The Facility Letter contains certain undertakings as follows, which impose specific performance obligations on the Company's controlling shareholders, the breach of which during the period of the Loan Facility may result in a mandatory prepayment event: Both China Merchants Shekou Industrial Zone Holdings Company Limited and the Company are required to maintain their listed status; CMSK has a direct or indirect controlling interest in the Company of more than 50%; and China Merchants Group Limited and its concert parties are required to maintain their status as the single largest controlling shareholders of CMSK and the Company. If a mandatory prepayment event occurs, the Bank may declare that the Loan Facility has matured early and the advances under the Loan Facility and all interest accrued and all other sums payable under the Facility Letter shall become immediately due and payable. As at the date of this announcement, CMSK indirectly owns 74.35% of the issued share capital of the Company, CMG directly or indirectly owns over 60% of the issued share capital of CMSK, and CMG is owned and controlled by the State Council of the People's Republic of China.