Reference is made to the announcement of the Midea Real Estate Holding Limited dated 28 December 2020 in respect of the 2021 Smart Home Technology Products Framework Purchase Agreement entered into between the Company and Midea Group Company to govern the terms and conditions of the transactions between Group and Midea Group in connection with the provision of the Smart Technology Products. Pursuant to the 2021 Smart Home Technology Products Framework Purchase Agreement, Midea Group Company agreed to provide the Smart Technology Products to Group according to the separate agreements in respect of each of the transactions to be entered into by the relevant members of Group with the relevant members of Midea Group from time to time. Given that the 2021 Smart Home Technology Products Framework Purchase Agreement will expire on 31 December 2023, the Company had on 28 December 2023 entered into the 2024 Smart Technology Products Framework Purchase Agreement with Midea Group Company for the setting of new annual caps and extension of the term of the 2021 Smart Home Technology Products Framework Purchase Agreement for a term of three years commencing from 1 January 2024 to 31 December 2026 (both days inclusive).

2024 Smart Technology Products Framework Purchase Agreement, Date: 28 December 2023 Parties: The Company (as the purchaser of Smart Technology Products); and Midea Group Company (as the supplier of Smart Technology Products) Nature of Provision of the Smart Technology Products by Midea Group to the Group. transactions: Term: The 2024 Smart Technology Products Framework Purchase Agreement shall substitute and replace the 2021 Smart Home Technology Products Framework Purchase Agreement for a fixed term commencing on 1 January 2024 and ending on 31 December 2026 (both days inclusive), renewable by mutual agreement of the parties, subject to compliance with all relevant requirements under the Listing Rules and applicable laws and regulations. Payment terms: The payment terms for the Smart Technology Products will be stipulated in the separate agreements governing each particular transaction entered into pursuant to the 2024 Smart Technology Products Framework Purchase Agreement.

In general, the Continuing Connected Transactions will normally be settled in the form of bank transfer or such other manner and subject to credit terms as agreed by the parties. Pricing policy: The pricing of the Smart Technology Products is to be determined by the Company and Midea Group Company on normal commercial terms, negotiated on an arm's length basis, subject to applicable laws and regulations, and with reference to the prevailing market conditions and the principle of fairness. In principle, the purchase prices will be determined based on the quotations provided by other qualified supplier(s) for similar goods of similar quality with comparable order quantities upon the parties' arm's length negotiations with reference to, among other things, the costs, scales, quality and reliability of the Smart Technology Products to be provided by Midea Group to us.

To ensure Midea Group is providing Smart Technology Products at the prevailing market prices and terms, the Group has implemented the following review procedures and approval process against the assessment criteria: for products and/or services which are commonly available in the market, will obtain fee quotes from a minimum of three potential suppliers (including at least two independent third parties) based on needs and the criteria set out by relevant department; and for products and/or services which are uncommon in the market, sourcing department will assess bi-annually whether there are potential suppliers for such products and/or services and obtain fee quotes based on needs and the criteria set out by relevant department, and obtain fee quotes to the extent available where there are fewer than three suppliers and where there are three or more suppliers, fee quotes will be obtained from at least three of such suppliers.