Shui On Land : ANNOUNCEMENT - APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

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Shui On Land Limited

瑞安房地產有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 272)

ANNOUNCEMENT

APPOINTMENT OF EXECUTIVE DIRECTOR AND

CHIEF EXECUTIVE OFFICER

The board of directors (the "Board") of Shui On Land Limited (the "Company", collectively with its subsidiaries are defined as the "Group") announces that Ms. Ying WANG ("Ms. Wang") has been appointed as an Executive Director and the Chief Executive Officer of the Company with effect from 1 January 2022.

Ms. Wang, aged 47, was the Managing Director - Project Development & Asset Management of Shui On Management Limited. Ms. Wang is responsible for various functions of project development and sales and marketing of the Group and also oversees the asset management function. Ms. Wang is also responsible for the business development of the Group, which includes land acquisitions and other new property investment activities. Ms. Wang joined the Group in August 1997 and has over 27 years of working experience in the property development industry in the PRC. Prior to joining the Group, Ms. Wang worked in sales and marketing at a real estate company in Shanghai.

Ms. Wang holds a Bachelor of Engineering degree from the Shanghai University of Technology and an Executive Master of Business Administration (EMBA) degree from the Fudan University in Shanghai. She has completed the Senior Executive Leadership Program from the Harvard Business School. Ms. Wang is a member of the Standing Committee of People's Congress of Hong Kou District, Shanghai, Chairman of Real Estate Working Committee of Shanghai Association of Foreign Investment, Vice President and Director of Shanghai Real Estate Chamber of Commerce

• Chairman of Commerce Real Estate Committee, Vice President of Shanghai Real Estate Trade Association and Vice Chairman of Shanghai Hongkou Federation of Industry and Commerce.

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Save as disclosed herein, Ms. Wang has not held any directorship in any other listed companies in the past three years. Ms. Wang also does not have any relationship with any Director, senior management or substantial or controlling shareholder of the Company.

At the date of this announcement, Ms. Wang is interested in 437,000 share options of the Company and 670,500 shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Save as disclosed above, Ms. Wang is not interested in any securities of the Company.

Ms. Wang shall not be appointed for a specific term but shall be subject to relevant provisions of retirement and re-election at the annual general meetings of the Company in accordance with the articles of association of the Company and other applicable law, rules and regulations. There is an employment contract signed between a member of the Group and Ms. Wang. The term of her appointment will continue until being terminated by either party by giving to the other not less than six months' notice. Ms. Wang is entitled to an annual remuneration of approximately RMB11,601,420 and she is entitled for the performance-related bonus which will be determined with reference to her individual performance, her duties and responsibilities in the Company and the Group, the performance of the Group, the remuneration benchmark in the industry and the prevailing market conditions.

Save as disclosed herein, there is no matter relating to the appointment of Ms. Wang that needs to be brought to the attention of the holders of securities of the Company, nor is there any information as required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

The Board would like to take this opportunity to welcome Ms. Wang to join the Board.

By Order of the Board

Shui On Land Limited

Vincent H. S. LO

Chairman

Hong Kong, 30 December 2021

At the date of this announcement, the executive directors of the Company are Mr. Vincent H. S. LO (Chairman), Mr. Douglas H. H. SUNG (Chief Financial Officer and Chief Investment Officer) and Ms. Stephanie B. Y. LO; and the independent non-executive directors of the Company are Professor Gary C. BIDDLE, Dr. Roger L. McCARTHY, Mr. David J. SHAW, Mr. Anthony J. L. NIGHTINGALE, Mr. Shane S. TEDJARATI and Ms. Ya Ting WU.

• For identification purposes only

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