Poly Property Services : PROPOSED CHANGE OF BUSINESS SCOPE AND PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

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POLY PROPERTY SERVICES CO., LTD.

保利物業服務股份有限公司

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

(Stock Code: 06049)

PROPOSED CHANGE OF BUSINESS SCOPE

AND

PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

The board (the "Board") of directors (the "Directors") of Poly Property Services Co., Ltd. (the "Company") has proposed to (i) change the Company's business scope; and (ii) amend the articles of association of the Company (the "Articles of Association"). The above proposed changes and amendments will be put forward to the shareholders of the Company (the "Shareholders") for their consideration and approval by way of special resolution at the 2020 annual general meeting of the Company (the "AGM").

PROPOSED CHANGE OF BUSINESS SCOPE

To satisfy the needs of the business development of the Company, the Board proposed to expand the business scope of the Company to include the items related to innovation industry service, vehicle service, information service and business development service. In addition, in view of the business scope formulated by the State Administration for Market Regulation and adopted by Guangzhou, the Board proposed to change the relevant items which are no longer applicable in the business scope of the Company.

The proposed change of business scope is conditional upon the following conditions being satisfied:

1. passing of special resolution by the Shareholders at the AGM to approve the change of business scope; and
2. obtaining all the necessary approvals from the Guangzhou Administration for Market Regulation for the change of business scope.

The application for and filing of change and registration with the Guangzhou 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 business scope will take effect from the date on which the business licence in relation to the amended business scope is issued by the Guangzhou Administration for Market Regulation.

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PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

In view of the proposed change of the Company's business scope, the Board proposed to amend Article 11 of the existing Articles of Association.

Details of the proposed amendments to the Articles of Association are as follows: (deleted texts are presented in strikethrough and additional texts are presented in underline):

Original Article 11: Business scope of the Company: property management; hotel management; conference and exhibition services; real estate agency services; venue rental (excluding warehousing); family services; building cleaning services; landscaping construction services; building construction works; furniture retail; interior decoration and refurbishment; municipal public works; mechanical and electrical equipment installation services; post- construction decoration, refurbishment and cleaning; waterproof and leakage repair works on building structure; installation of building electric power system; smart installation services; surveillance system installation services; security monitoring and anti-theft alarm system construction services; wholesale trade of commodities (except for commodities requiring license); corporate management consultancy services; acceptance and inspection services for commodity properties; catering management; department store retail (except food retail); fruit retail; dried fruit and nut retail; fresh poultry retail; egg retail; aquatic products retail; domestic tourism and inbound tourism solicitation and consultancy services; outbound tourism solicitation and consultancy services; border tourism solicitation and consultancy services; operation activities for self-owned real estates; property leasing; greening, maintenance and pest control services; wholesale of construction materials and decorative materials; retail of office equipment and consumables; office services; landscape, green space and facilities construction works; indoor non-shooting,non-ball,non-board game competitive entertainment activities (excluding electronic entertainment, rock climbing, trampoline); parking lot management; retail of dried seafood; laundry service; education consultancy service; retail of kitchen utensils and daily sundries; retail of communication equipment; health management and consultancy services (except for diagnosis activities and psychological consultation requiring approval, excluding licensed operations, and operating activities forbidden by laws and regulations are prohibited); nursing services (not involving accommodation, medical diagnosis, treatment and rehabilitation services); retail of cosmetic and hygiene products; retail of medical supplies and equipment (excluding medicines and medical devices); medical equipment rental services; investment and development of the elder care industry; cleaning, collection and transportation services for urban domestic wastes; retail of prepackaged food; retail of foodstuff and cooking oil; retail of alcoholic beverages; retail of health food (subject to the Food Business License for individual items); retail of pastry and bread; labour dispatch service; car repair and maintenance; retail of dairy products; retail of cooked food; vocational skills training (subject to the School Operation Permit for individual items); care services for the elderly and disabled (not involving medical diagnosis, treatment and rehabilitation services); licensed medical device business; car cleaning services; security services; collection and wholesale of recyclable materials; food and beverage delivery services; Chinese food service; fast food service; swimming pool; convenience store operation and convenience store chain operation; small grocery stores and tuck shops; management of hospitals; patient caring services (not involving medical diagnosis, treatment and rehabilitation services); landscaping for hospitals and medical institutions; repair of medical devices; operation, repair and management of boilers; operation, repair and management of heating devices; management of

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the appearance of urban and rural areas; garbage segregation services; advertising industry; literature and art creation services; booth design services; planning of creative services; corporate image planning services; marketing planning services; organisation and planning services for large-scale activities (large-scale activities referring to evening parties, sports competitions, celebrations, art and modelling contests, art festivals, film festivals and public welfare performances, exhibitions, etc., and activities subject to special approval shall be conducted only after approval is obtained); retail and trading of commodities (except for commodities requiring license); graphic design services; corporate etiquette services; photography services; business consulting services; graphic design; advertisement design, production, agency and publication; real estate consulting services; mortgage agency services; general retail of daily sundries; retail of vegetables; retail of non-alcoholic beverage and tea leaves; retail of tobacco products; ticketing services; travel agency and related services; automobile maintenance; auto detailing; sales of second-hand automobiles; sales of automobile accessories; repair of home electronic products; repair of electronic appliances; maintenance of electrical and mechanical equipment of buildings; repair and maintenance of elevators; installation and repair of water and electricity facilities; designated driving services; water pollution management; atmospheric pollution management; solid waste management; soil remediation; sewage treatment and recycling; promotion services for environmental protection technologies; consultation and communication services for environmental protection technologies; Internet of Things services; management of urban public resources; operation, management and maintenance of environmental sanitation, landscaping, city illumination and water resources; disposal of municipal wastes; management services for construction waste yards, spoil grounds and muck grounds; cleaning and disinfection of secondary water supply facilities for domestic drinking water; snow removal and transportation services and management of snow dump sites; noise and vibration control services; elimination of rats, sparrows, flies and mosquitoes; prevention and control of termites; research and development and installation of smart equipment and facilities; smart construction; big data and information consulting services; logistics management services for enterprises and public institutions; sports venue and gymnasium services (except for natatoriums); operation services for scenic areas; advisory for operation of scenic areas; river management; management of tourist attractions; logistics management services for schools; management services for gymnasiums; (items subject to the legal approval shall be allowed for operations only after approval by the relevant authorities is obtained).

The business scope as referred to in the preceding paragraph shall be subject to the approval of registration by the company registration authority.

Amended as: Business scope of the Company: property management; hotel management; conference and exhibition services; real estate agency services; venue rental (excluding warehousing)residential lease; non-residentialreal estate lease; familyhousekeepingservices; building cleaning services; landscaping construction servicesworks; general contracting ofbuilding construction worksand municipal infrastructure projects; furniture saleretail; residentialinterior decoration and refurbishment; municipal public works; mechanical and electrical equipment installation services; post-constructiondecoration, refurbishment and cleaning; waterproof and leakage repair works on building structure; installation of building electric power systemwater and electricity installation and maintenance services for residential properties; smart installation servicesintelligent building construction works; surveillance system installation services; security monitoring

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and anti-theftalarm system construction servicessecurity system monitoring services; wholesale tradeof commoditiesdaily necessities(except for commodities requiring license); corporate management consultancy services; enterprise credit management and consulting services;acceptance and inspection services for commodity properties;catering management; department store retail (except food retail)sale of general merchandise; freshfruit retail; sale of raw nuts anddried fruit and nut retail; fresh poultryraw meatretail; freshegg retail; aquatic products retail; domestic tourism and inboundtourism solicitation and consultancy services at travel agency outlets; outbound tourism solicitation and consultancy services; border tourism solicitation and consultancy services; operation activities for self-ownedreal estates; property leasing;urbangreening management, maintenance and pest control services; wholesalesaleof construction materialsand decorative materials; retailsaleof office equipment and consumables; office services; landscape, green space and facilities construction works; indoor non-shooting, non-ball, non-boardgame competitive entertainmentsinging and dancing entertainmentactivities (excluding electronic entertainment, rock climbing, trampoline); recreational activities;parking lot managementservices; retail of dried seafood;laundry and ironingservice; education consultancy service (excluding educational training activities requiring license approval); retail of kitchen utensils, sanitary wareand daily sundries; retailsaleof communication equipment; health management andconsultancy services (excluding diagnosis and treatment services)(except for diagnosis activities and psychological consultation requiring approval, excluding licensed operations, and operating activities forbidden by laws and regulations are prohibited); nursing facilityservices (excluding medical services)(not involving accommodation, medical diagnosis, treatment and rehabilitation services); retail of cosmetic and hygiene products; retail of medical supplies and equipment (excluding medicines and medical devices)sale of hygiene products and disposable medical supplies; medical equipment rental services; investment and development of theelder care servicesindustry; cleaning, collection and transportationbusinessservices for urban domestic wastes; food business (saleretailof prepackaged food); retail of foodstuff and cooking oil; retail ofalcoholic beveragesbusiness; retailsaleof health food (subject to the Food Business License for individual items); retail of pastry and bread;labour dispatch service; carautomobilerepair and maintenance; retail of dairy products; retail of cooked food; vocational skills training (subject to the School Operation Permit for individual items); care services for the elderly and disabled (not involving medical diagnosis , treatment and rehabilitation services); licensedsale of Class Imedical devicesbusiness; sale of Class II medical devices;car cleaning services; security services; collection and wholesale of recyclable materialsresources (except for production scrap metals); food and beverage deliverytakeaway and deliveryservices; Chinese food service; fast foodcateringservice; swimming pool; convenience store operation and convenience store chain operation; small grocery stores and tuck shopssnack and grocery; management of hospitals; patient caring services (not involving medical diagnosis, treatment and rehabilitation services); landscaping for hospitals and medical institutions; repair of medical devices; operation, repair and management of boilers; operation, repair and management of heating devices; management of the appearance of urban and rural areas; garbage segregation services; advertising industry;advertisement design and agency; advertisement production; advertisement publication (non-radiostations, non-televisionstations, non-newspaperpublishers);literature and art creation services; boothprofessionaldesign services; planning of creativesocio-economicconsultingservices; corporate image planning services; marketing planning services; organisation and planning services for large-scaleactivities (large-scaleactivities referring to evening parties, sports competitions, celebrations, art and modelling contests, art festivals, film festivals and public welfare performances, exhibitions, etc., and

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activities subject to special approval shall be conducted only after approval is obtained); retail and trading of commodities (except for commodities requiring license); graphic design services; corporateetiquette services; photography and photographic processing services; business consulting services; graphic design; advertisement design, production, agency and publication;real estate consulting services; mortgagebusinessagency services; general retailsaleof daily sundries; retail of freshvegetables; retail of non-alcoholicbeverage and tea leaves;retail of tobacco products; ticketing agencyservices; travel agency and related services; automobile maintenance; auto detailing; salesdealershipof second-hand automobiles; sales of automobile accessories; repair of home electronic products;repair of electronic appliances; maintenance of electrical and mechanical equipment of buildings; repair and maintenance of elevators; installation and repair of water and electricity facilities;designated driving services; water pollution management; atmospheric pollution management; solid waste management; soil pollution control andremediation services; sewage treatment and recycling; promotion services for environmental protection technologies;environmental protectionconsultation and communication services for environmental protection technologies; Internet of Things applicationservices; management of urban public resources; operation, management and maintenance of environmental sanitation, landscaping, city illumination and water resources; disposal of municipal wastes; management services for construction waste yards, spoil grounds and muck grounds; cleaning and disinfection of secondary water supply facilities for domestic drinking water; snow removal and transportation services and management of snow dump sites; noise and vibration control services; elimination of rats, sparrows, flies and mosquitoes; prevention and control of termites; research and development and installation of smart equipment and facilities; smart construction; big data and information consulting services; logistics management services for enterprises and public institutions; sports venue and gymnasium services (except for natatoriums); operation services for scenic areas; advisory for operation of scenic areas; river management; management of tourist attractions; logistics management services for schools; management services for gymnasiums;operation of sports venues and facilities (excluding high-risksports activities); consulting and planning services; aviation business services; road cargo transportation (including dangerous goods); insurance agency business; car leasing; sale of new car; sale of distributed AC charging piles; sale of forestry products; sale of refrigeration and air-conditioningequipment; sale of knitwear and textile products; retail of hardware products; sale of home appliances; sale of labour protection products; sale of disinfectants (excluding hazardous chemicals); retail of automobile parts; professional sanitary, cleaning and disinfection services; home appliance installation service; fire protection facilities construction works; overseas contracted projects; general mechanical equipment installation services; maintenance of electronic and mechanical equipment (excluding special equipment); category 2 value-addedtelecommunication business; internet information services; construction management service.(Items subject to the legal approval shall be allowed for operations only after approval by the relevant authorities is obtained).

The business scope as referred to in the preceding paragraph shall be subject to the approval of registration by the company registration authority.

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GENERAL

The AGM will be convened by the Company and a special resolution will be put forward to the Shareholders to approve (i) the proposed change of the Company's business scope; and

1. the proposed amendments to the Articles of Association. A circular containing, among other things, details of the above change 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 of the amendments to the Articles of Association taking effect.

By Order of the Board

POLY PROPERTY SERVICES CO., LTD.

Huang Hai

Chairman of the Board and Non-executive Director

Guangzhou, PRC, 27 April 2021

As at the date of this announcement, the non-executive Directors of the Company are Mr. Huang Hai, Mr. Liu Ping and Mr. Hu Zaixin; the executive Director of the Company is Ms. Wu Lanyu; and the independent non-executive Directors of the Company are Mr. Wang Xiaojun, Ms. Tan Yan and Mr. Wang Peng.

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