Interim Results Presentation 2020

Home , Dapeng New District, Futian District, Guangming District, Guangming station, Henglan, Line 3 (Shenzhen Metro)

August 2020 Disclaimer

This presentation may contain forward-looking statements. Any such forward-looking statements are based on a number of assumptions about the operations of the Kaisa Group Holdings Ltd. (the “Company”) and factors beyond the Company's control and are subject to significant risks and uncertainties, and accordingly, actual results may differ materially from these forward- looking statements. The Company undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates. The information in this presentation should be considered in the context of the circumstances prevailing at the time of its presentation and has not been, and will not be, updated to reflect material developments which may occur after the date of this presentation. The slides forming part of this presentation have been prepared solely as a support for discussion about background information about the Company. This presentation also contains information and statistics relating to the China and property development industry. The Company has derived such information and data from unofficial sources, without independent verification. The Company cannot ensure that these sources have compiled such data and information on the same basis or with the same degree of accuracy or completeness as are found in other industries. You should not place undue reliance on statements in this presentation regarding the property development industry. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information or opinion contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. Information and opinion contained in this presentation may be based on or derived from the judgment and opinion of the management of the Company. Such information is not always capable of verification or validation. None of the Company or financial adviser of the Company, or any of their respective directors, officers, employees, agents or advisers shall be in any way responsible for the contents hereof, or shall be liable for any loss arising from use of the information contained in this presentation or otherwise arising in connection therewith. This presentation does not take into consideration the investment objectives, financial situation or particular needs of any particular investor. It shall not to be construed as a solicitation or an offer or invitation to buy or sell any securities or related financial instruments. No part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation may not be copied or otherwise reproduced. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities or financial instruments or to provide any investment service or investment advice, and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This presentation shall not be reproduced or circulated.

2 Contents

1. Major Achievements in 1H2020 4 2. Development Strategies in 2H2020 16 3. Financial Highlights & Liability Management 21 4. Appendix 30 1. Major Achievements in 1H2020 Major Achievements in 1H2020

✓ Contracted sales achieved RMB36 bn, +4% YoY, 27th in nationwide ranking¹ Steady Growth ✓ Contracted GFA reached 2.12 mn sq. m., +8% YoY in Contracted Sales ✓ 32% contracted sales from URPs (Urban Renewal Projects) ✓ 57% contracted sales from the Greater Bay Area

✓ Land bank of 26.8 mn sq. m., 52% in the Greater Bay Area High Quality ✓ Saleable resources of RMB580 bn, of which 70% in the Greater Bay Area, 30% in Land Bank Shenzhen ✓ 78% of GFA in Tier 1 & major Tier 2 cities

✓ Site area² of URP pipeline increased 6% YoY to 42 mn sq. m., of which Shenzhen RMB2.6 Trillion and Guangzhou account for 27% and 36% respectively Worth URP ✓ Secured 20 new projects, adding the pipeline to 167 projects Pipeline ✓ Converted 5 URPs in Hong Kong, Shenzhen and Guangzhou, with total saleable GFA of 700,000 sq. m. and saleable resources of RMB27 bn

✓ Revenue achieved RMB22.3 bn, +11% YoY Growing ✓ Gross profit achieved RMB7.5 bn, +12% YoY Revenue and ✓ GP margin stood at an industry high level of 33.8% , +0.4 ppts YoY Profitability ✓ Core net profit attributable to owners of the Company soared to RMB3.5 bn, +26% YoY

Dividend ✓ Recommended payment of an interim dividend of 3 HK cents per share

¹CRIC Sales League Table-Attributable Contracted Sales Ranking ²Not yet included in the land bank, plot ratio not yet calculated

5 Contracted Sales

Contracted Sales Contracted GFA Contracted ASP

(RMB mn) ('000 sq. m.) (RMB/sq. m.)

4,642 88,120 18,983 3,837 70,059 18,261 17,686 2,786 17,004 44,714 1,961 2,119 34,690 36,032 16,048

FY2017 FY2018 FY2019 1H2019 1H2020 FY2017 FY2018 FY2019 1H2019 1H2020 FY2017 FY2018 FY2019 1H2019 1H2020 1/3 of Contracted Sales from URPs Monthly Contracted Sales in 2020 (RMB mn) (RMB mn)

URP contracted sales URP contracted sales as % of the total 46% sales target completion rate in 7M2020 Average sell through rate: 55% 38% 40,000 37% 40% 35,000 33,486 35% 9,535 32% 9,052 31% 8,971 30,000 27% 25,853 30% 25,000 25% 6,509 20,000 20% 4,800 4,137 15,000 12,124 10,754 11,530 15% 2,563 10,000 10% 5,000 5% 0 0% 2017 2018 2019 1H2019 1H2020 Jan Feb Mar Apr May Jun Jul

Contracted Sales +4% YoY to RMB36 bn, Contracted GFA +8% YoY to 2.12 mn sq. m. 6 Contracted Sales (Con’t)

Contracted Sales in 1H2020: RMB36,032 mn Contracted Sales in 1H2019: RMB34,690 mn

Contracted Sales in 1H2020 by Region Contracted Sales in 1H2019 by Region

Pan Bohai Pan Bohai Rim, 12% Rim, 15% Western Western China, 5% China, 11% Central Greater Central China, 3% Greater Bay Area, Bay Area, China, 14% 58% 57% Yangtze Yangtze River Delta, River Delta, 17% 8%

Contracted Sales in 1H2020 by City Contracted Sales in 1H2019 by City

Tier 3, 10% Tier 3, 3%

Tier 1, 39% Tier 2, 49% Tier 1, 48% Tier 2, 51%

39% Contracted Sales from Tier 1 Cities 57% Contracted Sales from the Greater Bay Area

7 Contracted Sales (Con’t)

Contracted Sales in 1H2020 by Cities (Top 5) Contracted Sales in 1H2020 by Product

Serviced 29% Apartment 15%

Residential Commercial 10% 70% 9% 5% 4% 4% Office and carpark 6% Shenzhen Huizhou Shanghai Guangzhou Chengdu Contracted Sales in 1H2020 by ASP (Top 5) 1H2020 Sales Performance

(RMB/sq. m.) ◆ CRIC Shenzhen contracted sales area ranking (attributable): 1st in private enterprise 54,800 ◆ CRIC Shenzhen contracted sales amount ranking (attributable): 1st in private enterprise 35,100 31,500 30,700 ◆ CRIC Greater Bay Area land acquisition amount 30,150 ranking: 3rd ◆ Project sales champion: ◆Shenzhen Kaisa Yantian City Plaza ◆Guangzhou Kaisa Future City ◆Huizhou Kaisa Riverbank New Town Shenzhen Guangzhou Hangzhou Shanghai Dongguan ◆Luoyang Riverside City

29% Contracted Sales from Shenzhen with ASP of RMB54,800/sq.m.，70% from Residential Sales

8 Recognized Sales

Recognized Sales Recognized GFA Recognized ASP (RMB mn) ('000 sq. m.) (RMB/sq. m.)

18,958 43,849 2,548 17,206 17,209 16,580 2,241 36,081 2,097 13,923 31,206

20,639 18,502 1,116 1,089

FY2017 FY2018 FY2019 1H2019 1H2020 FY2017 FY2018 FY2019 1H2019 1H2020 FY2017 FY2018 FY2019 1H2019 1H2020

Recognized Sales in 1H2020 by Region Recognized Sales in 1H2020 by City

Western Pan Bohai Rim, Tier 3, 4% Pan Bohai Tier 3, 2% China, 7% 2% Rim, 5% Central Western China, China, 10% 13% Tier 2, 30% Central Greater Tier 2, 28% China, 1% Bay Area, Tier 1, 68% Yangtze River Greater Bay Yangtze 57% Tier 1, 68% Delta, 4% Area, 80% River Delta, 21%

1H2020 1H2019 1H2020 1H2019

80% Recognized Sales from the Greater Bay Area, 68% Recognized Sales from Tier 1 Cities

9 Established Presence in T1 & T2 Cities with High Quality Land Bank

◆ 26.8 mn sq. m. land bank by GFA, with attributable portion of Western China Pan Bohai Rim 72% GFA: 3.38 mn sq. m. GFA: 3.27 mn sq. m. ◆ 78% located in Tier 1 & major Tier 2 cities % of total by GFA: 12.6% % of total by GFA: 12.2% ◆ 52% located in the Greater Bay Area ◆ GFA of 5.6 mn sq. m., or 21% of the total land bank from URPs Central China ◆ RMB240 bn, or 41% of saleable resources from URPs GFA: 3.79 mn sq. m. % of total by GFA: 14.1% Land Bank by Development Status and Land Use

Completed, Industrial Shenyang Completed Commercial Sold yet 4% and unsold 11% Recognized 6% 2% Dalian Qingdao

Under Held for Future Residential Zhengzhou Development Development 86% Xuzhou Nanjing Shanghai 37% Suzhou 55% Congqing Chengdu Shaoxing Ningbo Expected Saleable Wuhan GFA Changsha % Resources % (’000 sq. m.) (RMB mn) Greater Bay Area Foshan Guangzhou Zhongshan Huizhou Greater Bay Area 14,001 52.2% 399,841 68.9% Shenzhen GFA: 14.00 mn sq. m. Dongguan 3,130 11.7% 165,902 28.6% Zhuhai Hong Kong Shenzhen % of total by GFA: 52.2% Sanya Guangzhou 2,618 9.9% 117,858 20.4% (Shenzhen: 3.13 mn sq. m., Huizhou 3,383 12.6% 33,828 5.8% % of total by GFA: 11.7%) Yangtze River Delta Dongguan 1,644 6.1% 32,876 5.7% GFA: 2.27 mn sq. m. Foshan/Zhuhai/ 3,168 11.8% 37,320 6.4% Hainan % of total by GFA: 8.5% Zhongshan, etc. GFA: 0.09 mn sq. m. Hong Kong 57 0.2% 12,056 2.1% % of total by GFA: 0.3% Yangtze River Delta 2,269 8.5% 45,380 7.8% Central China 3,790 14.1% 64,434 11.1% Western China 3,380 12.6% 33,797 5.8% Pan Bohai Rim 3,273 12.2% 32,725 5.6% Hainan 87 0.3% 4,172 0.7% Total 26,799 100.0% 580,348 100.0% 10 Land Acquisition through Diversified Channels

◆ 74% of the newly acquired land located in the Greater Bay Area ◆ 51% of the newly acquired land located in Tier 1 cities ◆ Land acquisition through bidding, M&A and urban renewal, of which 24% from urban renewal conversion ◆ Newly acquired attributable GFA of 2.81 mn sq. m. (attributable portion: 71%), attributable consideration of RMB22.2 bn ◆ The attributable average land cost for new land acquired (HK projects included) is RMB7,896 per sq. m.

Newly Acquired Land by Attributable GFA Newly Acquired Land by Attributable Consideration

Pan Bohai Rim Shenzhen Western China 4% 4% 10% Central China Urban 10% Renewal 24% Guangzhou Yangtze River T2 & T3 cities 31% Delta M&A T1 cities Bidding 49% 2% 7% 51% Greater Bay Area 69% 74% Hong Kong 16%

◆ Land Acquisition in 1H2020 Attributable Attributable Site Area GFA Attributable GFA Region City Consideration Land Cost (sq. m.) (sq. m.) (sq. m.) (RMB mn) (RMB/sq. m.) Hong Kong, Shenzhen, Guangzhou, Dongguan, Greater Bay Area 1,064,695 2,892,421 2,079,995 17,821 8,568 Foshan, Huizhou, Zhongshan etc. Yangtze River Delta Hangzhou 49,166 108,165 55,164 458 8,295 Central China Changsha 160,829 554,865 286,131 1,094 3,823 Western China Chengdu,Chongqing 201,996 325,741 284,702 2,762 9,700 Pan Bohai Rim Shijiazhuang 88,649 106,379 106,379 73 687 Total 1,565,335 3,987,571 2,812,370 22,208 7,896 11 Urban Renewal Pipeline¹ Supports Future Development

◆ Acquired 20 new URPs in 1H2020, mainly located in Shenzhen ◆ Total 167 URPs in the pipeline with site area¹ over 42旧改项目 mn sq. m. ◆ RMB2.6 trn worth expected saleable resources with expected GFA of 100 mn sq. m. upon conversion ◆ 99% of the UPRs in the Greater Bay Area, of which转化为土储 27% in Shenzhen, 36% in Guangzhou, and 20% in Zhongshan ◆ A team of 890 professionals dedicated for urban renewal business Expected saleable Site area1 No. of projects City % resources (’000 sq. m.) in the pipeline (RMB bn) Shenzhen 11,551 27.3% 112 1,200 Guangzhou 15,251 36.0% 18 1,100 Zhongshan 8,612 20.3% 20 185 Huizhou 3,430 8.1% 4 70 Hong Kong, Zhuhai, Dongguan, 3,106 7.3% 12 53 Foshan, Jiangmen Ningbo 423 1.0% 1 10 Total 42,373 100.0% 167 2,618

1.Not yet included in the land bank, plot ratio not yet calculated

Awards Issued by 2020 China Outstanding China Index Academy, China Real Estate Urban Renewal Real Top 10 Research Group Estate Operating Companies

Continue to Acquire URPs at Good Locations When Opportunities Arise in Order to Support Future Growth and Enjoy Economies of Scale

12 Strong Commitment in Corporate Social Responsibilities

Fight COVID-19 ◆ Donated RMB10 mn to support the front lines of fighting the epidemic in Wuhan and Xiaogan ◆ Donated 5000 protective suits to 11 hospitals in Hubei, and 2.5 tons of disinfectant to Xiaogan ◆ Donated 50 tons of fresh vegetables to Hubei ◆ Offered 15-30 days rent-free periods to shopping malls, stadium merchants and long- term apartment tenants

Targeted Poverty Alleviation ◆ Donated RMB173 mn YTD for targeted poverty alleviation ◆ Materialized impoverished villages in Longmen, Huizhou into a provincial rural demonstration sites by donating 93 new infrastructure projects and subsidizing 82,000 rural poverty population ◆ Recognized as “Enterprise with Outstanding Contribution on Poverty Alleviation of the 10th Anniversary of Guangdong Poverty Alleviation Day” ◆ Benchmark China Real Estate Enterprise on Poverty Alleviation of the year 2019-2020

Public Welfare

◆ Donated HKD200 mn to Hong Kong University of Science and Technology to establish a joint research institute to support education work ◆ Donated over 80 projects with over RMB1.6 bn for public welfare

13 Environmental, Social and Governance

Local Community Development through Urban Renewal

Social Green ◆ Obtained the first Sustainable Finance UN SDGs Contribution Contribution UN SDGs Framework and Second Party Opinion in

China Property Market Infrastructure Green and Essential Buildings Services ◆ MSCI upgraded Kaisa ESG rating from B

to BB Affordable Energy Housing Efficiency ◆ ESG risk score of 24.7 and medium risk from Sustainalytics, an ESG rating agency Pollution Prevention and Control

Sustainable Water and Wastewater Management

Climate Change Adaptation

Renewable Energy

Clean Transportation

Reduce Negative Impacts on Environment

14 Rising Brand Influence and Recognition from Capital Markets

Ranked 1157th in Forbes’ Global 2000- Rankd 8th of Hong Kong Listed China- Institutional Investor- The World’s Largest Public Companies based Property Developers 2020 in Honored Company Financial Stability

rd Ranked 213 in Ranked 22nd in 2020 TOP 30 2020 Fortune China 500 Property Companies in Integrated Capability

New Fortune- The Best IR of Hong Kong Listed Company

2020 Advanced Enterprise Ranked 14th in 2020 TOP 20 of Accomplishments Property Companies in Brand Value

15 2. Development Strategies in 2H2020 Celebration of 40-year Anniversary of Establishment of Shenzhen Special Economic Zone

Speed up construction of Kaisa Golden Bay International Park, builting a world-class tourism destination brand for Shenzhen

Increase presence in international and domestic cultural and sports events to make Shenzhen a new high land of China’s culture and technology

Strive to Be an Innovative Public Service Provider, Contributing to the Construction of Shenzhen and Greater Bay Area

17 Greater Bay Area Continues to Be the Core Region of Development

Expected Saleable Resources in 2H2020: RMB120 bn Expected Saleable Area in 2H2020: 6.6 mn sq. m.

by City by City

Tier 3 Tier 2 18% 52% Tier 3 Tier 2 7% 63% Tier 1 41% Tier 1 19%

by Region by Region

Pan Bohai Hainan, 1% Central China Rim Yangtze 6% 13% River Delta Western China Western 25% 6% China Pan Bohai 9% Rim Greater Bay Area Central China 5% 46% Greater Bay Area 7% 57% Hainan, 1% Yangtze River Delta 24%

57% Saleable Resources from the Greater Bay Area 18 Accelerating Conversion of URPs to Drive Growth

URPs to be converted into land bank in 2020 Saleable ASP of Expected Saleable No. Project Location Type Area* Nearby Projects Resources (’000 sq. m.) (RMB/sq. m.) (RMB mn) 1 Hong Kong Sai Wan Project Sai Wan, Hong Kong Residential 2¹ 340,000 820 Shenzhen Sanshun 2 Luohu, Shenzhen Industrial 30 55,000 1,650 Pharmaceutical Factory Project 3 Shenzhen Nanshan Project Nanshan, Shenzhen Commercial 53 120,000 6,360 Guangzhou Kaisa Phoenix Riverview Residential & 4 Nansha, Guangzhou 260 28,000 7,280 Residence Commercial Zengcheng, Residential & 5 Guangzhou Xiajing Village Project 360 30,000 10,800 Guangzhou Commercial URPs converted in 1H2020 705 26,910 6 Shenzhen Nanmendun Project Longgang, Shenzhen Residential 230 55,000 12,650

7 Shenzhen Xiaxue Village Project Longgang, Shenzhen Residential 230 53,000 12,190

8 Shenzhen Shangxue Project Longgang, Shenzhen Industrial 180 54,000 9,720 Shenzhen Hengling Old Village 9 Longhua, Shenzhen Residential 70 70,000 4,900 Project 10 Shenzhen Jianda Factory Project (P1) Longgang, Shenzhen Industrial 180 45,000 8,100

Expected Conversion in 2H2020 890 47,560

Expected Conversion in 2020 1,595 74,470

¹approx. 26,000 sq. ft. or 2,400 sq. m.

Expect to Convert 10 URPs with 1.6 mn sq. m. Saleable GFA and RMB74 bn Saleable Resources in 2020 Ahead of the Annual Target Conversion of 800,000 to 1,000,000 sq. m.

19 High Profit Margins from Low Cost URPs

Land Prices of URPs in Recent Shenzhen Residential Land Auction Land Bank (RMB/sq. m.) Land Cost per Saleable GFA (RMB/sq. m.)

GFA: 5.5 mn sq. m. Average selling price of residential property in Shenzhen: over RMB50,000 per sq. m. 87,000

Construction cost of resettlement housing 67,000 Average land price of URPs 56,000 42,000 42,800

9,600 14,100 15,230 4,500 4,500 5,100 9,600 URPs Shenzhen URPs Bo'an Longhua Guangming small plot Guangming big plot Nanshan Qianhai Pingshan

资料来源：Shenzhen政府网站

Average Selling Price of Current URPs in Shenzhen

(RMB/sq. m.) Land Cost of Shenzhen URPs 14,100 Average Selling Price of Shenzhen URPs Longhua Tongda Huixuan (residential): 60,300 Longhua Tongda Huixuan (apartment): 48,000 Yantian Kaisa City Plaza (residential): 50,000 Kaisa Dongmen New World (apartment): 66,000 Kaisa Future City (apartment): 40,000

20 3. Financial Highlights & Liability Management Financial Highlights in 1H2020 Cashflow Improvement

Cash and Bank Deposits(RMB bn) Net Gearing Ratio(1) Quick Ratio(2)

1.3X 1.2X 300% 1.1X 40 1.0X 37 236%

21 23 144% 130%

FY2017 FY2018 FY2019 1H2020 FY2017 FY2018 FY2019 1H2020 FY2017 FY2018 FY2019 1H2020 Growing Profitability Core Net Profit Attributable to Owners Revenue (RMB mn) Gross Profit (RMB mn) of the Company (3) (RMB mn)

13,830 48,022 11,129 38,705 4,190 4,303 8,934 3,461 32,779 7,539 6,708 2,753 20,106 22,297 1,412

FY2017 FY2018 FY2019 1H2019 1H2020 FY2017 FY2018 FY2019 1H2019 1H2020 FY2017 FY2018 FY2019 1H2019 1H2020

Sufficient Cash to Cover Short-term Debt, Decrease in Net Gearing Ratio Increases in Revenue, Gross Profit and Core Net Profit Attributable to Owners of the Company

1）Net gearing ratio=Net debt / Total equity 2）Quick Ratio = (Restricted Cash + Short-term Bank Deposits + Cash and Cash Equivalents) / Short-term Borrowings 3) Core net profit attributable to owners of the Company excludes net fair value loss on financial assets at fair value through profit or loss, net exchange losses, net fair value gain on investment properties, fair value gain on financial derivatives and net of respective deferred tax 22 Financial Highlights in 1H2020

P&L and Profitability (RMB mn) Balance Sheet and Credit Metrics (RMB bn)

1H2020 FY2019 % Change 1H2020 1H2019 % Change Total assets 292 271 +8% Revenue 22,297 20,106 +11% Total equity 62 56 +12% Recognized revenue from 20,639 18,502 +12% property sales Contract liabilities 47 39 +20%

Gross profit 7,539 6,708 +12% Total borrowings 122 117 +4%

Net borrowings 81 80 +1% Gross profit margin 33.8% 33.4% +0.4 ppts Net gearing ratio 130% 144% -14 ppts EBITDA¹ 9,102 8,129 +12% Debt to asset 78.7% 79.4% -0.7 ppts ratio Profit attributable to Cash collection 2,769 2,837 -2.4% 87% 75% +12 ppts owners of the company ratio Cash and bank 40.5 37.0 +9% Core net profit attributable deposits 3,461 2,753 +25.7% to owners of the company Quick ratio2 1.2x 1.1x +0.1x

◼ Strong Growth Momentum ◼ Healthy Profit Margin ◼ Increase in Liquidity ◼ Scale Expansion

1) EBITDA = Profit or loss for the period before changes in fair value of investment properties, changes in fair value of financial derivatives, net fair value change on financial assets at FVTPL, waiver of other payables, net gain on repurchase of senior notes, net finance cost (excluding net exchange gains/losses), net exchange gains/losses, impairment loss on interest in an associate, write-down of completed properties held for sale and properties under development, impairment loss on goodwill, written off of intangible assets, loss on disposal of investment properties 2) Quick Ratio = (Restricted Cash + Short-term Bank Deposits + Cash and Cash Equivalents) / Short-term Borrowings

23 Financing and Liability Management

Net gearing ratio -14 ppts from 2019 year end to 130% Improving Debt ✓ Servicing ✓ Quick ratio improved to a healthy level of 1.2× Capability ✓ Cash on hand +9% to RMB40.5 bn from 2019 year end ✓ Total equity +12% to RMB62.3 bn from 2019 year end

✓ Onshore ABS issuance: issued RMB1.2 bn YTD with coupon rates Expanding ranging from 7.0% to 7.5% Funding Channels ✓ Obtained onshore ABN quota of RMB6 bn in July this year ✓ Offshore bank loan: obtained HK$3.2 bn bank loan

Proactive ✓ YTD Offshore borrowing cost -2.9 ppts from 2019 to 8.2% ✓ Term out the maturity profile by issuing debt beyond 2024 Liability ✓ Expanded investor database with average 4-8 times over subscription on new Management bond issuance

Onshore issuer rating: CCXI AA+/United Credit Ratings AA+, Stable outlook Credit Rating ✓ ✓ Offshore issuer rating: Moody’s B1/S&P B/Fitch B, Stable outlook

24 Proactive Offshore Liability Management

Tightening Yield Curve of Kaisa USD Bond

16% 15.34 15.67 June 14.44 2018 13.68 Tightened 300-500 bps

12.00 11.97 12.10 June 2020 12% 10.9410.97 10.40 9.96 9.05 8.94

YTM(%) 7.76 8% 7.357.63 7.23

4% 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 Remaining Years

Borrowing cost of FY2019 1H2020 new debt issued offshore 11.1% 8.2% (-290 bps)

Lowered Offshore Borrowing Cost by 290 bps and Issued US$800 mn 5-Year Bonds to Extend the Maturity Profile

25 Diversified Investor Base

Geographic Distribution of Kaisa Dollar Bond Investors ◆ Strong response from various types of institutional and private investors including global money

managers, private funds, and London family office Boston Frankfurt

◆ Expanded investor base to U.S. Los Angeles New York Beijing Shenzhen Shanghai through 144A exercise Hong Kong

Singapore

Rule 144A Reg S

USD Senior Notes Received Overwhelming Responses from Investors

Senior Notes Issued since 2020 Final Allocation of Book Order (By Region) US$500 Million 10.5% Due January 2025 Asia: 73% / Europe: 27% US$300 Million 9.95% Due July 2025 Asia: 61% / Europe: 28% / Offshore U.S.: 11% US$400 Million 6.75% Due February 2021 Asia: 81% / Europe: 16% / Offshore U.S.: 3% US$300 Million 7.875% Due July 2021 Asia: 80% / Europe: 20% US$400 Million 9.75% Due September 2023 Asia: 94% / EMEA: 6% US$300 Million 11.25% Due April 2025 Asia: 86% / EMEA: 14%

26 Expanding Onshore and Offshore Financing Channels

◆ Onshore unutilized bank credit line of RMB120 bn ◆ ABS Issuance ▪ Obtained ABS quota of RMB10.6 bn YTD, being the first domestic AA+ private property developer granted shelf offering quota (mortgage balloon payments) ▪ Issued RMB1.2 bn ABS YTD, with coupon rates ranging from 7.0% to 7.5% and tenor of 1 year

Quota Issue Size Coupon Rate Tenor (RMB mn) (RMB mn) Supply Chain Finance 8,000 512 7.5% 1 year Mortgage Balloon Payment 2,600 643 7.0%-7.5% 1 year Total 10,600 1,155 - -

◆ Obtained ABN quota of RMB6 bn in July 2020 ◆ Onshore Rating: CCXI AA+/United Credit Ratings AA+, Stable outlook ◆ Offshore Rating: Moody’s B1/S&P B/Fitch B, Stable outlook ◆ Diversified offshore funding channel ▪ Obtained bank loans for 2 Hong Kong residential projects: Sai Wan Project (HKD600 mn) and Tuen Mun Project (HKD2,600 mn) ▪ In discussion of bilateral/syndicated loans with offshore banks

27 Debt Composition and Maturity Profile

Debt Composition Debt Maturity Profile Onshore non-bank 1H2020 FY2019 borrowings, 16% 60% 49% 50% 44% Onshore bank ◆ Total Borrowing 40% borrowings, 28% RMB121.7 bn 27% 27% ◆ Onshore: 43% 30% 26% Offshore 22% ◆ Offshore: 57% 20% senior Offshore bank notes, 53% 10% 3% 2% borrowings and 0% others, 4% Within 1 year Between 1-2 Between 2-5 Over 5 years years years Net Gearing Funding (RMB bn) < 1 Yr 1 - 2 Yrs 2 - 5 Yrs > 5 Yrs Total Cost 350% 308% Onshore 18.4 19.0 13.7 1.2 52.3 7.8% Bank 300% 300% 5.1 14.5 12.6 1.2 33.4 borrowings Non-bank 250% 13.3 4.5 1.1 - 18.9 236% borrowings Offshore 13.2 13.6 40.4 2.2 69.4 9.6% 200% Senior notes 10.5 12.0 39.8 2.2 64.5 150% 144% Bank 130% borrowings 2.7 1.6 0.6 - 4.9 100% and others FY2016 FY2017 FY2018 FY2019 1H2020 Total 31.6 32.6 54.1 3.4 121.7 8.8%

28 Market Recognition from Equity and Fixed Income Investors

Equities and Bonds Coverage

Equity Coverage Recommendation Bond Coverage CLSA High-conviction Buy Deutsche Bank Southwest Securities Buy Citigroup Haitong Securities Outperform BAML First Shanghai Buy Barclays Central Wealth Securities Buy BNP Guoyuan Securities Buy JP Morgan Essence International Buy Guosen International Buy CLSA Guosen Hong Kong Buy UBS

Active Trading in both Equities and Bonds

Constituent of: Hang Seng Large-Mid Cap Value Tilt Index Markit iBoxx Asian USD Bond Index Hang Seng Stock Connect Greater Bay Area Index Morningstar Emerging Market Index Hang Seng Composite LargeCap & MidCap Index FTSE Emerging Markets Corporate Index Hang Seng Composite Index and ICE BofA High Yield Index Hang Seng Stock Connect Hong Kong Index Bloomberg Barclays High Yield Index

Active Capital Markets Activity

29 4. Appendix 1H2020 Earnings

(RMB bn) 1H2020 1H2019 % Change

Revenue 22.30 20.11 +10.9% -Sales of properties 20.6 18.5 +11.6% -Rental income 0.16 0.19 -16.5% -Property management services 0.55 0.38 +47.9% -Hotel and catering operations 0.07 0.10 -28.5% -Cinema, department store and cultural center operations 0.04 0.14 -68.1% -Water-way passenger and cargo transportation 0.19 0.39 -50.7% -Others 0.63 0.40 +57.0% Cost of sales 14.76 13.40 +10.1% Gross profit 7.54 6.71 +12.4% Gross profit margin 33.8% 33.4% +0.4 ppts Net profit 2.36 2.78 -15.1% Net profit margin 10.6% 13.8% -3.2 ppts Profit attributable to owners of the Company 2.77 2.84 -2.4% Core net profit attributable to owners of the Company 3.46 2.75 +25.7%

31 Balance Sheet

(RMB bn) As of 30 Jun 2020 As of 31 Dec 2019 % Change

Total assets 292.4 270.9 +7.9%

Total liabilities 230.2 215.2 +7.0%

Net current asset 77.8 66.8 +16.4%

Total equity 62.3 55.7 +11.7%

Cash and bank deposits 40.5 37.0 +9.5%

Quick ratio(1) 1.2X 1.1X +0.1X

Leverage ratio(2) 28% 30% -2 ppts

Net gearing ratio(3) 130% 144% -14 ppts

Interest coverage ratio(4) 1.6X 1.6X -

Net debt/EBITDA(5) 4.5X 4.8X -0.3X

(1) Quick ratio equals to cash and bank balances, short-term bank deposits and restricted cash over short-term borrowings (2) Leverage ratio equals to net debt (total borrowings net of cash and bank balances, short-term bank deposits, long-term bank deposits and restricted cash ) over total assets (3) Net gearing ratio equals to net debt (total borrowings net of cash and bank balances, short-term bank deposits, long-term bank deposits and restricted cash ) over total equity (4) Interest coverage ratio = EBITDA / Interest expense (5) Net debt/EBITDA = (Short-term Borrowings + Long-term Borrowings - Restricted Cash - Short-term Bank Deposits - Long-term Bank Deposits - Cash and Cash Equivalents) / EBITDA

32 Land Acquisition in 1H2020

Attributable Attributable Time of Attributable Site Area GFA Way of No Location GFA Consideration Land Use Acquisition Interest (sq. m.) (sq. m.) Acquisition (sq. m.) (RMB mn) 1 Jan-2020 Hangzhou, Zhejiang 51% 49,166 108,165 55,164 458 Residential M&A Residential & 2 Feb-2020 Changsha, Hunan 49% 126,529 465,820 228,252 775 Bidding Commercial 3 Mar-2020 Shijiazhuang, Hebei 100% 88,649 106,379 106,379 73 Residential M&A 4 Mar-2020 Dongguan, Guangdong 34% 69,524 208,571 70,914 837 Residential Bidding Residential & 5 Mar-2020 Dongguan, Guangdong 24% 33,763 110,271 26,465 169 Bidding Commercial 6 Mar-2020 Zhongshan, Guangdong 100% 33,000 83,000 83,000 727 Residential M&A Residential & 7 Mar-2020 Chengdu, Sichuan 55% 45,635 91,200 50,160 489 Bidding Commercial Residential & 8 May-2020 Foshan, Guangdong 51% 62,406 178,411 90,990 1,028 Bidding Commercial Residential & 9 May-2020 Changsha, Hunan 65% 34,300 89,045 57,879 319 Bidding Commercial 10 May-2020 Guangzhou, Guangdong 100% 113,401 340,204 340,204 2,923 Residential Bidding 11 May-2020 Dongguan, Guangdong 49% 22,451 67,352 33,002 375 Residential M&A Residential & 12 Jun-2020 Huizhou, Guangdong 55% 110,871 343,700 189,035 1,081 Bidding Commercial 13 Jun-2020 Dongguan, Guangdong 51% 27,600 82,700 42,177 360 Residential Bidding Residential & 14 Jun-2020 Jieyang, Guangdong 100% 159,004 461,727 461,727 494 Bidding Commercial 15 Jun-2020 Chongqing 100% 116,773 175,160 175,160 1,325 Residential Bidding 16 Jun-2020 Dongguan, Guangdong 51% 60,512 151,280 77,153 1,335 Residential Bidding 17 Jun-2020 Chengdu, Sichuan 100% 39,588 59,382 59,382 947 Residential Bidding Residential & 18 Jun-2020 Guangzhou, Guangdong 80% 102,392 327,654 262,123 2,114 Urban Renewal Commercial 19 Jun-2020 Shenzhen, Guangdong 51% 5,427 33,440 17,054 217 Industrial Urban Renewal 20 Jun-2020 Shenzhen, Guangdong 26% 7,241 53,000 13,780 636 Residential Urban Renewal Residential & 21 Jun-2020 Guangzhou, Guangdong 80% 243,200 393,700 314,960 1,840 Urban Renewal Commercial Onshore 1,551,432 3,930,161 2,754,960 18,522 New Territories, Hong 22 Jan-2020 100% 13,538 54,152 54,152 3,185 Residential Bidding Kong 23 May-2020 HK Island, Hong Kong 100% 365 3,258 3,258 501 Residential Urban Renewal Offshore 13,903 57,410 57,410 3,686 Total 1,565,335 3,987,571 2,812,370 22,208

33 URPs to Be Converted into Land Bank in 1-2 years

Expected Saleable ASP of Nearby Saleable Project Location Type Area* Projects Resources (’000 sq. m.) (RMB/sq. m.) (RMB mn)

Hong Kong Kowloon Project Kowloon, Hong Kong Residential 2 270,000 603

Dapeng New District, Shenzhen Dapeng No.2 Industrial Zone Industrial 200 45,000 9,000 Shenzhen

Shenzhen Jianda Factory Project (P2) Longgang, Shenzhen Industrial 275 45,000 12,375

Shenzhen Pinghu Hongzhuling Project Longgang, Shenzhen Residential 300 53,000 15,900

Shenzhen Pinghu Songyuan Village Project Longgang, Shenzhen Residential 60 48,000 2,880

Shenzhen Longgang GK Project Longgang, Shenzhen Residential 82 42,000 3,444

Shenzhen Longhua Meiqi Industrial Park Project Longhua, Shenzhen Industrial 80 35,000 2,800

Shenzhen Guangming Shutianpu Reserved Land Guangming, Residential 29 65,000 1,885 Project Shenzhen Residential & Guangzhou Shixi Project Haizhu, Guangzhou 900 42,000 37,800 Commercial Residential & Guangzhou Chenyong Project Haizhu, Guangzhou 500 42,000 21,000 Commercial Expected conversion in 1-2 years 2,428 107,687

*Subject to government’s final approval and demolition & compensation arrangement

34 URPs to Be Converted into Land Bank in 3-5 years

ASP of Nearby Expected Saleable Saleable Area* Project Location Type Projects Resources (’000 sq. m.) (RMB/sq. m.) (RMB mn) Shenzhen Xiangjiaotang Project Longgang, Shenzhen Residential 580 55,000 31,900 Shenzhen Banxuegang 08 Project Longgang, Shenzhen Residential 1,100 55,000 60,500 Shenzhen Makengshan Project Longgang, Shenzhen Residential 70 55,000 3,850 Shenzhen Henggang Anliang Project Longgang, Shenzhen Residential 1,050 50,000 52,500 Shenzhen Bantian 35 Wan Project Longgang, Shenzhen Residential 60 55,000 3,300 Shenzhen Longgang HTG Project Longgang, Shenzhen Residential 110 70,000 7,700 Shenzhen Longgang SL Project Longgang, Shenzhen Residential 47 38,000 1,786 Shenzhen Longgang Sanlian Longgang, Shenzhen Residential 143 50,000 7,150 Community Project Shenzhen Yangmei Village Project Longgang, Shenzhen Residential 105 58,000 6,090 Shenzhen Banxuegang 04 Project Longgang, Shenzhen Residential 620 44,000 27,280 Shenzhen Guanlan Project Longhua, Shenzhen Residential 350 50,000 17,500 Shenzhen Longhua ML Project Longhua, Shenzhen Residential 80 48,000 3,840 Shenzhen Longhua LWW Project Longhua, Shenzhen Residential 45 45,000 2,025 Shenzhen Shanghe Village Project Bao’an, Shenzhen Residential 77 70,000 5,390 Shenzhen Shangbaomei Old Village Bao’an, Shenzhen Residential 40 45,000 1,800 Project *Subject to government’s final approval and demolition & compensation arrangement

35 URPs to Be Converted into Land Bank in 3-5 years (Con’t)

Saleable ASP of Nearby Expected Saleable Project Location Type Area* Projects Resources (’000 sq. m.) (RMB/sq. m.) (RMB mn) Bao’an, Shenzhen Jingbei Fantangmen Project Residential 12 75,000 900 Shenzhen Guangming, Shenzhen Central Guangming District Project Residential 740 55,000 40,700 Shenzhen Guangming, Shenzhen Songming Machinery Factory Project Industrial 176 24,000 4,224 Shenzhen Guangming, Shenzhen Applied Machinery Factory Project Industrial 30 24,000 720 Shenzhen Yantian, Shenzhen Yantian SFBJ Project Residential 20 66,000 1,320 Shenzhen Dapeng, Shenzhen Wangmu Zhongshanli Project Residential 120 45,000 5,400 Shenzhen Dapeng, Shenzhen Dapengtuyang Project Residential 250 39,000 9,750 Shenzhen Baiyun, Commercial& Guangzhou Changyaoling Project 1,150 20,000 23,000 Guangzhou residential Nansha, Commercial& Guangzhou Xinchong Project 480 23,000 11,040 Guangzhou residential Panyu, Commercial& Guangzhou Luoxi Project 370 61,000 22,570 Guangzhou residential Baiyun, Commercial& Guangzhou Zhuyi Project 2,020 29,000 58,580 Guangzhou residential Nanhai, Commercial& Foshan Qiaoxing Project 150 22,000 3,300 Foshan residential Qishi, Dongguan Qishi Town Project Residential 1,300 19,000 24,700 Dongguan Expected conversion in 3-5 years 11,295 438,815

*Subject to government’s final approval and demolition & compensation arrangement

36 URPs to Be Converted into Land Bank Over 5 years

Site Area Project Location (’000 sq. m.) Greater Bay Area Shenzhen All Administrative Districts 5,176 Guangzhou Haizhu, Baiyun, Zengcheng, Panyu, Huadu 10,700 Zhongshan Shaxi, Dayong, Shiqi, Henglan 8,600 Huizhou Huicheng 3,430 Zhuhai Doumen 940 Dongguan Changping, Qiaotou 1,070 Foshan Lishui, Nanhai 640 Jiangmen Xinhui 26 Yangtze River Delta Ningbo Jiangbei 423 Expected conversion in the long term 31,005

37 URPs Expected to Be Launched in 2H2020

Shenzhen Kaisa Yuebanshan Shenzhen Kaisa Sky-high Summit Shenzhen Tongda Huixuan

• Guangming Street, • Intersection of Jianhui Hangcheng Street, Road and Zhicheng Road, Location • Guangming District, Bao’an District, Shenzhen Shenzhen Longhua District, Location Shenzhen Location • Adjacent to Guangming Street Station on • Adjacent to Qinghu Type of URP • Old factory to residence Shenzhen Metro Line No. Station on Shenzhen 6 (expected to open in Metro Line No.4 Site Area Jun 2020) 35,000 • Old factory to residential (sq. m.) • Type of URP Type of URP • Old factory to residence and commercial Saleable GFA Site Area • 150,000 Site Area • 9,300 (sq. m.) 29,000 (sq. m.) (sq. m.) • Saleable GFA Saleable Value Saleable GFA • 40,000 • 7,950 130,000 (sq. m.) (RMB mn) (sq. m.) • Saleable Value Saleable Value • 2,200 7,150 (RMB mn) • High-rise residential and (RMB mn) • commercial complex • Residential, serviced Planned Use Residential and building to be developed • apartment and Planned Use commercial complex to Planned Use in 1 phase commercial complex to be developed in 1 phase be developed in 1 phase Kaisa's first residential • Kaisa’s first residential Significance • • Kaisa's first URP in project in Bao’an District Significance project in Guangming Significance District Longhua District

Increasing Supply in Shenzhen Market in 2H2020 38 URPs Expected to Be Launched in 2H2020（Con’t）

Shanghai Kaisa City Plaza Shenzhen Kaisa Marine Guangzhou Kaisa Baiyun City Plaza (Phase 4-7) Mangrove Bay Xuhang Town, Jiading • Guangzhou Baiyun New Town West • Intersection of Honghua Location • District, Shanghai Extension District, adjacent to Road and Xiangzhang Guangzhou Metro Line 8 Xiaoping Road, Futian District, Type of URP • Old village to residence Station and the large-scale integrated Location Shenzhen Location Site Area transportation hub of Baiyun Railway • Adjacent to Fubao 126,923 (sq. m.) • Station under construction Station of Metro Line 3 • Near Baiyun Mountain, a national 5A- Saleable GFA • Old commercial & 210,000 level scenic spot Type of URP (sq. m.) • residential Type of URP • Old village to residence Saleable Value Site Area • 8,400 Site Area 9,500 (RMB mn) 179,000 (sq. m.) • (sq. m.) • • A residential project with Saleable GFA Saleable GFA complementary 500,000 • 20,000 Planned Use (sq. m.) • (sq. m.) commercial facilities to be developed in 4 phases Saleable Saleable Value • 30,000 Value • 2,000 • The Largest urban village (RMB mn) (RMB mn) redevelopment project in Shanghai • The large-scale integrated project will • A residential project with be developed in 3 phases and will complementary • Shanghai’s first urban Planned Use redevelopment project consist of high-end residential flats, a commercial facilities to Significance Planned Use that involved a civilian- star-rated hotel, an office building, be developed in 1 phase owned enterprise serviced apartment and a commercial complex • Obtain high-quality • Kaisa’s first urban village land bank through the redevelopment project in Kaisa’s first urban village Significance Significance • acquisition of Shenzhen Shanghai redevelopment project in Guangzhou Shipping Group

URP Presence in T1 Cities (Shanghai, Shenzhen and Guangzhou) 39 Improving Transport Infrastructure in the Greater Bay Area

◆ A total track length of 273km is under construction and the total mileage of Shenzhen Metro will reach 580km by 2022 ◆ By 2035, Shenzhen is expected to have 33 metro lines with a total mileage of 1,335km, which is 4.7 times of the current mileage. By then, the spatial density of Shenzhen metro will exceed that of Hong Kong, becoming one of the cities with the highest subway density in the world

Guangzhou: International Business Eastern Shore of Pearl Center, Transportation and Logistics River Delta: Electronic Distribution Center in South China, Information Industry International Metropolis Cluster

Zhaoqing Guangzhou Dongguan

Huizhou Western Shore of Pearl River Foshan Delta: High-end equipment manufacturing industry cluster

Shenzhen Jiangmen Zhongshan Shenzhen: Science and Technology Innovation Zhuhai Hong Kong Center with International Influence Macao

Guangzhou-Shenzhen-Hong Kong High Speed Rail (in Guangzhou–Shenzhen intercity railway (in operation / a operation / a 48-min journey / 14-min drive between Hong 60-min journey) Greater Bay Area Centre Kong and Shenzhen) Greater Bay Area Subcentre Shenzhen–Zhongshan Bridge (expected to operate Hong Kong-Zhuhai-Macao Bridge(in operation / a 30-min in 2024 / a 30-min journey) journey) Industrial cluster Nansha Bridge (In operation / Shorten distance between Humen Bridge (in operation) Dongguan and Panyu by 10km, saving 30 mins) Major industries and residential clusters 40 Benefiting from Positive Housing Policies

Issued Time Documents Core Content Issued by

Jul 2020 “Urban Renewal Regulations of the Shenzhen Special The government can initiate individual housing expropriation if more than 95% of the relocation Drafted by the Shenzhen Municipal Economic Zone (Consultation paper)” agreements have been signed Government and submitted to the Standing Committee of the Municipal People's Congress for deliberation

April 2020 The meeting of Politburo of the Communist Party of China Adhere to the positioning that houses are for living, but not for speculation for the purpose of the Political Bureau of the Communist Party of facilitating the stable and healthy development of the real estate market China (CPC) Central Committee

Apr 2020 “Notices on Facilitating Urban Renewal Progress in Response Expedite supply of commodity house: projects complete ½ of main building construction or Housing and Construction Bureau of Shenzhen to COVID-19” adopt precast construction with foundation works completed, yet achieving ground level can Municipality apply for pre-sale permits; Shenzhen Planning and Natural Resources Allow delays in land premium payment; Bureau Relieve corporate liquidity pressure

Mar 2020 “Measures on the response to COVID-19 to support property Propose to increase the supply of residential land; Housing and Construction Bureau of Shenzhen developer to speed up resumption of work and operation” Adopting the “report and sign” approach to shorten the online registry time for commodity Municipality housing; Introduce 9 measures for presale applications for commodity housing, such as waiving the requirement to submit proof of the capital balance

Feb 2020 “Measures to Support Enterprises to Overcome Difficulties in Enterprises which are affected by the epidemic can apply for a reduction of housing provident Shenzhen Municipal People's Government Response to the Epidemic” fund ratio to a minimum of 3% for a period of not more than 12 months, or apply for deferred payment of the housing provident fund for a period of not more than 12 months

Feb 2020 "Land Use Policies to Support the Development of Enterprises Adjust the payment method and payment period of land price; extend the fulfillment time of Shanghai Planning and Natural Resources in Response to the Epidemic" commencement and completion of construction and commencement of operation; reduce the Bureau industrial land cost

Feb 2020 “Measures of Shenzhen to Support Enterprises to Overcome For industries that have been affected by the epidemic and companies that have development Shenzhen Municipal People's Government Difficulties amid COVID-19 Outbreak” prospects but have been temporarily affected by the epidemic, financial institutions shall not demand early repayment or cut off or delay in loans

Jan 2020 “Notice on Further Strengthening Financial Support to Prevent Continue to increase support for SMEs and private enterprises and maintain the growth rate of PBoC，MoF，CBRC，CSRC，SAFE and Control COVID-19 Infection” loans and effectively implement the requirements for the reduction of comprehensive financing costs.

Dec 2019 National Housing and Urban-Rural Construction Work Stabilizing land prices, home prices and expectations Ministry of Housing and Urban-Rural Conference Development

Sep 2019 “Guiding Opinions on Deepening the Reform and Accelerating With consents of 2/3 house owners of URP, government rulings and judicial judgement can be People’s Government of Guangdong Province the Urban Renewal of "Three Olds" to Promote High-quality in force Development”

Aug 2019 “Opinions on Supporting Shenzhen’s Development into the Grant Shenzhen a higher political and development status Central Committee of CPC, State Council Pilot Demonstration Area of Socialism with Chinese Characteristics”

Jul 2019 “Three-year Action Plan for Guangdong-Hong Kong-Macao Guangdong Province's three-year key tasks and division of responsibilities for the development Guangdong Provincial Work Group for Greater Bay Area from 2018 to 2020” of Guangdong-Hong Kong-Macao Greater Bay Area Promoting the Development of the Guangdong-Hong Kong-Macau Greater Bay Area

Jul 2019 “Opinions on how to implement the “Outline Development Plan Benchmarking the construction goals of the Greater Bay Area by 2035, and deploying key Central Committee of Guangdong Province, for the Guangdong-Hong Kong-Macao Greater Bay Area”” tasks of Guangdong Province in the next ten years State Council

Feb 2019 “Outline Development Plan for the Guangdong-Hong Kong- Build the Bay Area into an international first-class bay area Central Committee of CPC, State Council Macao Greater Bay Area” 41 Abundant Premium Projects in Shenzhen

Shenzhen projects in land bank (28)

Major URPsTransportation in pipeline Link (112) in Shenzhen

Nam Tai nno Park Major transportation hubs in Shenzhen 南太云创谷

Kaisa E Cube 光明区佳兆业E立方 Guangming District 龙岗区 Longgang District Kaisa Sky-high Summit 龙华区佳兆业云峰汇 Longhua District Pinghu Kaisa Plaza Tongda Huixuan 平湖佳兆业广场 Kaisa Future City 通达汇轩 Kaisa Yuebanshan 佳兆业未来城 Metropolis Plaza 坪山区佳兆业樾伴山 Xiaxue Project 壹都会 Pinghu Pingshan District 宝安机场宝安区下雪项目平湖 Bao’an Airport Bao’an Nam Tai Technology Center 南太科技中心 Shangxue Project District 坂田 Henggang Yantian Kaisa City Plaza Bantian Kaisa City Plaza 上雪项目大鹏新区 Bantian 横岗盐田佳兆业城市广场 Nam Tai Inno City 坂田佳兆业城市广场 Dapeng New District 南太创之谷 Dapeng No.2 Industrial Zone Shahe Project Sanshun Project 盐田区大鹏第二工业区沙河项目 North Station Nanmendun Project 三顺项目 Yantian Shenzhen北站南门墩项目 District Kaisa Golden Bay International Park Kaisa Financial 佳兆业金沙湾国际乐园南山区 Technology Center 罗湖区 Nanshan 佳兆业金融科技中心 Luohu District District Kaisa Dongmen New World 盐田港 Yantian Port Futian Dongshan Project 福田区佳兆业东门新世界福田东山项目沙头角口岸 Futian District 罗湖口岸 Shatoujiao 前海航运红树湾 Luohu Checkpoint Checkpoint Qianhai Marine Mangrove Bay 皇岗口岸福田口岸 Huanggang 深圳湾 Futian Checkpoint Shenzhen Bay Checkpoint Checkpoint Nan’ao Project Hong Kong 南澳项目蛇口港 Hong Kong Shekou Port

Land Bank – GFA URP Pipeline Site Area¹ As of 30 June 2020 (‘000 sq. m.) (‘000 sq. m.) Shenzhen 3,130 11,551

1.not in land bank; plot ratio is not yet calculated

42 Metro-accessible Projects in Shenzhen

◆ 15 metro-accessible projects in Shenzhen, occupying prime locations ◆ Strategic locations imply great potential for value appreciation

Planning of railway transit in Shenzhen

Guangming Street Pinghu & Pinghu Railway Station Kaisa E Cube Niuhu Pinghu Kaisa Plaza (expected to open in end-2020)

Changzhen & Fenghuang Town Nam Tai Inno Park (Under Construction) Kaisa Future City Dayun (existing) & Longcheng Xuexiang & Gangtou (For Sale) Park (expected to open in 2023) Kaisa Sky-high Summit Shuibei (Under Construction) Qing Hu

Buji & Shenzhen East Station Kaisa Metropolis Plaza (Under Construction) Yantian Road Tongda Huixuan (expected to open in (For Sale) Oct 2020)

Qiaocheng North Shai Bu Yantian Kaisa City Plaza Bantian Kaisa City Science Museum (For Sale) Plaza (For Sale) Kaisa Dongmen New World Coco Park （For Sale） Kaisa Financial Kaisa Marine Technology Center Fubao (Under Construction) Mangrove Bay (expected to open in Oct 2020) (Under Construction)

Kaisa Futian Nanshan Shahe Luohu Sanshun Project Dongshan Project Project (Under Construction) (To be built) (To be built)

43 Proven Track Record of URPs Conversion

◆ Successfully converted 32 URPs with over 13.6 mn sq. m. GFA since established ◆ URPs mainly located in Tier 1 cities including Shenzhen, Guangzhou, Shanghai and Hong Kong ◆ Successfully converted 19 URPs with GFA of nearly 3 mn sq. m. since 2017

GFA No. of Year Projects Type of URP Location converted URPs (‘000 sq. m.) converted Shenzhen Inno Park Old factory Guangming, Shenzhen 2017 Shenzhen Nam Tai Inno City Old factory Bao’an, Shenzhen 697 3 Shenzhen Nam Tai Inno Park Old factory Bao’an, Shenzhen Guangzhou Kaisa Baiyun City Plaza Old village Baiyun, Guangzhou 2018 Shenzhen Kaisa Dongmen New World Distressed assets Luohu, Shenzhen 595 3 Zhuhai Lake View Waldorf Garden (Phase 3) Old village Xiangzhou, Zhuhai Shanghai Kaisa City Plaza (Phase 4-7) Old village Jiading, Shanghai Old commercial & Shenzhen Kaisa Marine Mangrove Bay Futian, Shenzhen residential Shenzhen Tongda Huixuan Old factory Longhua, Shenzhen

2019 Shenzhen Kaisa Sky-high Summit Old factory Guangming, Shenzhen 787 8 Shenzhen Kaisa Yuebanshan Old factory Bao’an, Shenzhen Shenzhen Kaisa Metropolis Plaza Distressed assets Longgang, Shenzhen Shenzhen Futian Dongshan Project (Phase I) Old residential Futian, Shenzhen Huizhou Kaisa Jade Garden Old village Luobo county, Huizhou Hong Kong Sai Wan Project Old residential Sai Wan, Hong Kong Shenzhen Sanshun Pharmaceutical Factory Project Old factory Luohu, Shenzhen 1H2020 Shenzhen Nanshan Shahe Project Old factory Nanshan, Shenzhen 811 5 Guangzhou Kaisa Phoenix Riverview Residence Old village Nansha, Guangzhou Guangzhou Xiajing Village Project Old village Zengcheng, Guangzhou Conversion since 2017 2,890 19

44 Recently Converted URPs

Guangzhou Kaisa Phoenix Shenzhen Nanshan Shahe Project Shenzhen Luohu Sanshun Project Riverview Residence • North of Shahe Street, • Shuibei Area, • East of Huangge West Dongxiao Street, Road, Huangge Town, Nanshan District, Location Shenzhen Luohu District, Nansha District, Location Location • Near Qiaocheng North Shenzhen Guangzhou Station, Shenzhen • Near Shuibei Station, Type of URP • Old village Metro Line 2 Shenzhen Metro Line 3 Old factory to industrial Site Area Type of URP • Industrial to commercial Type of URP • • 102,400 park (sq. m.) Site Area 7,241 (sq. m.) • Site Area Saleable GFA • 5,427 260,000 (sq. m.) (sq. m.) • Saleable GFA • 52,530 Saleable GFA (sq. m.) • 30,000 Saleable Value (sq. m.) • 7,280 Saleable Value (RMB mn) • 6,360 Saleable Value (RMB mn) • 1,650 (RMB mn) • Develop in 2 phases • A complex integrated A industrial R&D and • A complex integrated • Planned Use Planned Use apartments, offices and Planned Use commercials complex residence, shopping commercial units with metro cover mall, kindergarten and central garden • First project in • First industrial Significance Nanshan district, First URP in Significance transformed project Significance • Shenzhen in Luohu, Shenzhen Nansha,Guangzhou

45 Shareholding Structure (As of 30 June 2020)

• Founder and chairman • Over 20 years of industry experience • Responsible for overall strategy, investment planning and human resources strategy

Funde Sino Life Kwok Family Other public investors Insurance Co., Ltd. 25.17% 39.20% 35.63%

Hotel and catering Sales of properties Rental income Property management Others operations

◼ Generate revenue from ◼ Management and ◼ Provide property ◼ Operation of five-star ◼ Cultural & leisure, sale of residential operation of management services hotels, boutique shipping business, properties, villas, commercial properties ◼ Accounting for 2.5% of business hotel chains, health care and service apartments, to generate income revenue in 1H2020 and serviced technology to bring commercial and ◼ Accounting for 0.7% of apartments synergy for future integrated commercial revenue in 1H2020 ◼ Accounting for 0.3% of property development buildings etc, revenue in 1H2020 ◼ Accounting for 3.9% of ◼ Accounting for 92.6% revenue in 2019 of revenue in 1H2020

Property Related Businesses Contribute 96.1% of Total Revenue in 1H2020