Financial Street Property : PROPOSED CHANGE OF THE BUSINESS SCOPE OF THE COMPANY AND PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

FINANCIAL STREET PROPERTY CO., LIMITED ږፄ൑يٰุ΅Ϟࠢʮ̡

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1502)

PROPOSED CHANGE OF THE BUSINESS SCOPE OF THE COMPANY

AND

PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

The board (the "Board") of directors (the "Directors") of Financial Street Property Co., Limited (the "Company", together with its subsidiaries, the "Group") has proposed to (i) change the business scope of the Company; and (ii) amend to the articles of association of the Company (the "Articles of Association"). The above proposed change and amendments will be put forward to the shareholders of the Company (the "Shareholders") for consideration and approval by way of special resolutions at the 2020 annual general meeting of the Company (the "AGM").

PROPOSED CHANGE OF THE BUSINESS SCOPE OF THE COMPANY

Based on the needs of the Company's business development strategy, the Company will continually advance scientific and technological capabilities and business innovation, venture into integrated development processes characterized by diversified multi-production chains and continue to expand upstream and downstream businesses and the business scope is proposed to be expanded as follows: centralized elderly care service, home-based elderly care service, leasing of commercial premises, organisation of exhibitions and fairs, stadium management service, greening management and maintenance, hotel management, hospital management, cleaning, collection and transportation services for municipal wastes, garbage sorting, project management, etc. The proposed change of the business scope is conditional upon the following conditions being satisfied:

• (i) passing of special resolution by the Shareholders at the AGM to approve the change of the business scope; and

• (ii) obtaining all the necessary approvals from Beijing Xicheng District Administration for Market Regulation ( ̏ԯ̹Г۬ਜ̹ఙ္ຖ၍ଣ҅ ) for the proposed change of the business scope.

The application for and filing of change and registration with Beijing Xicheng District Administration for Market Regulation will be made by the Company after the passing of the relevant special resolution at the AGM. The proposed change of the business scope will take effect, assuming the passing of the relevant special resolution at the AGM, from the date on which the business licence in relation to the expanded business scope is issued by Beijing Xicheng District Administration for Market Regulation.

PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

In view of the proposed change of the business scope, the Board proposed to amend the original article 14 of the Articles of Association.

Details of the proposed amendments are as follows (with additions underlined):

GENERAL

The Company intends to propose special resolutions to the Shareholders at the 2020 AGM for approval of (i) the proposed change of the Company's business scope; and (ii) proposed amendments to the Articles of Association. A circular containing, among other things, details of the above changes and proposed amendments, together with a notice of the AGM and the related proxy form will be despatched to the Shareholders as soon as practicable.

The Company will make further announcement(s) in due course in respect of (i) the poll results of the AGM; and (ii) the specific status as to the taking effect of the amendments to the Articles of Association.

By order of the Board Financial Street Property Co., Limited

Sun Jie

Chairman

Beijing, the PRC, 26 March 2021

As at the date of this announcement, the Board comprises Mr. Sun Jie and Ms. Xue Rui as executive Directors, Mr. Shen Mingsong, Mr. Zhou Peng, Mr. Liang Jianping and Mr. Jiang Rui as non-executive Directors, and Mr. Song Baocheng, Ms. Tong Yan and Ms. Lu Qing as independent non-executive Directors.