SOHO CHINA LIMITED SOHO中國有限公司 (Incorporated in the Cayman Islands with Limited Liability) (Stock Code: 410)

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. SOHO CHINA LIMITED SOHO中國有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 410) RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2020 FINANCIAL HIGHLIGHTS • Achieved revenue of approximately RMB2,192 million during the Year, representing an increase of approximately 19% year over year. • Due to the impact of COVID-19 pandemic, office leasing markets in Beijing and Shanghai were under pressure in 2020. However, as the economy improved, the average occupancy for the Group’s stabilized investment properties recovered to approximately 82% as at 31 December 2020. • Leeza SOHO, which started leasing at the beginning of 2020, successfully introduced Huawei’s China headquarters as anchor tenant, achieving an occupancy rate of 60% as at 31 December 2020. • Achieved profit before income tax of approximately RMB1,600 million during the Year, representing a decrease of approximately 17% year over year due to the impact of COVID-19 pandemic. • As at 31 December 2020, net gearing ratio of the Group was approximately 43% and average funding cost was approximately 4.7%. – 1 – The board (the “Board”) of directors (the “Directors”) of SOHO China Limited (the “Company” or “SOHO China” or “we”) is pleased to announce the audited consolidated annual results of the Company and its subsidiaries (collectively, the “Group”) for the year ended 31 December 2020 (the “Year”), together with the comparative figures for the year ended 31 December 2019 as follows: CONSOLIDATED INCOME STATEMENT For the year ended 31 December 2020 Year ended 31 December 2020 2019 Notes RMB’000 RMB’000 Revenue 2 2,191,637 1,847,091 Cost of sales (801,399) (336,650) Gross profit 1,390,238 1,510,441 Valuation gains on investment properties 1,099,804 1,168,488 Other income and gains 465,567 481,704 Selling expenses (37,063) (31,751) Administrative expenses (214,463) (237,747) Other operating expenses (252,009) (369,572) Operating profit 2,452,074 2,521,563 Finance income 3 63,366 80,032 Finance expenses 3 (915,374) (682,400) Profit before income tax 1,600,066 1,919,195 Income tax expense 4 (1,056,600) (599,169) Profit for the Year 543,466 1,320,026 Profit attributable to: Owners of the Company 535,604 1,331,193 Non-controlling interests 7,862 (11,167) Profit for the Year 543,466 1,320,026 Earnings per share (RMB per share) Basic earnings per share 5 0.10 0.26 Diluted earnings per share 5 0.10 0.26 – 2 – CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 December 2020 Year ended 31 December 2020 2019 RMB’000 RMB’000 Profit for the Year 543,466 1,320,026 Other comprehensive income: Items that may be reclassified to profit or loss Currency translation differences 17,505 47,783 Items that will not be reclassified to profit or loss Changes in the fair value of equity investments at fair value through other comprehensive income – 745 Surplus on revaluation of office premises, net of tax – 101,452 Other comprehensive income for the Year, net of tax 17,505 149,980 Total comprehensive income for the Year 560,971 1,470,006 Total comprehensive income for the Year attributable to: Owners of the Company 552,080 1,471,028 Non-controlling interests 8,891 (1,022) 560,971 1,470,006 – 3 – CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 December 2020 As at 31 December 2020 2019 Notes RMB’000 RMB’000 Assets Non-current assets Investment properties 63,367,000 61,833,246 Property and equipment 1,129,835 1,306,505 Intangible assets 700 2,491 Deferred income tax assets 898,194 637,035 Trade and other receivables 6 72,100 365,900 Prepayments – 169,133 Investment in other financial assets 52,050 32,319 Total non-current assets 65,519,879 64,346,629 Current assets Completed properties held for sale 1,746,533 2,224,075 Prepayments 229,214 203,998 Trade and other receivables 6 421,096 454,803 Bank deposits 69,354 261,098 Structured bank deposits 2,321,355 961,950 Cash and cash equivalents 396,804 1,206,837 Assets classified as held for sale – 69,626 Total current assets 5,184,356 5,382,387 Total assets 70,704,235 69,729,016 Equity Equity attributable to owners of the Company Share capital 106,112 106,112 Other reserves 36,522,962 35,964,422 36,629,074 36,070,534 Non-controlling interests 917,939 1,045,605 Total equity 37,547,013 37,116,139 – 4 – CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued) As at 31 December 2020 As at 31 December 2020 2019 Notes RMB’000 RMB’000 Liabilities Non-current liabilities Bank and other borrowings 17,457,907 16,366,214 Lease liabilities – 227,167 Contract retention payables 399,743 467,154 Deferred income tax liabilities 9,292,978 8,704,737 Total non-current liabilities 27,150,628 25,765,272 Current liabilities Bank and other borrowings 1,011,860 1,632,440 Lease liabilities – 30,980 Receipts in advance from customers 77,615 72,082 Contract liabilities 84,218 241,112 Trade and other payables 7 3,100,204 3,138,383 Current income tax liabilities 1,732,697 1,732,608 Total current liabilities 6,006,594 6,847,605 Total liabilities 33,157,222 32,612,877 Total equity and liabilities 70,704,235 69,729,016 – 5 – NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1 ACCOUNTING POLICIES New and amended standards adopted by the Group The Group has applied the following standards and amendments for the first time for the annual reporting period commencing 1 January 2020: • Definition of Material – amendments to Hong Kong Accounting Standard (“HKAS”) 1 and HKAS 8, • Definition of a Business – amendments to Hong Kong Financial Reporting Standard (“HKFRS”) 3, • Interest Rate Benchmark Reform – amendments to HKFRS 9, HKAS 39 and HKFRS 7, and • Revised Conceptual Framework for Financial Reporting. The Group also elected to adopt the following amendments early: • Annual Improvements to HKFRS Standards 2018–2020 Cycle. The amendments listed above did not have any impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. 2 REVENUE The principal activities of the Group are real estate development, property leasing and property management businesses. Revenue represents revenue from rental income and sale of property units and is analyzed as follows: 2020 2019 RMB’000 RMB’000 Rental income 1,537,636 1,832,756 Sale of property units 654,001 14,335 2,191,637 1,847,091 – 6 – 3 FINANCE INCOME AND FINANCE EXPENSES 2020 2019 RMB’000 RMB’000 Finance income Interest income 63,366 80,032 63,366 80,032 Finance expenses Interest expenses on bank and other borrowings 946,711 892,194 Interest expenses on lease liabilities – 39,083 Interest expenses on corporate bonds – 7,886 Less: interest expenses capitalized into investment properties under development* – (212,781) 946,711 726,382 Net foreign exchange gains (31,916) (45,079) Bank charges and others 579 1,097 915,374 682,400 * No borrowing cost was capitalized in 2020. The borrowing costs were capitalized at a rate of 4.51% – 4.90% per annum in 2019. 4 INCOME TAX EXPENSE 2020 2019 RMB’000 RMB’000 Current income tax 729,518 23,589 Deferred income tax 327,082 575,580 1,056,600 599,169 – 7 – 5 EARNINGS PER SHARE 5(a) Basic earnings per share The calculation of basic earnings per share is based on the profit attributable to owners of the Company of RMB535,604,000 (2019: RMB1,331,193,000) and the weighted average number of 5,199,433,000 ordinary shares (2019: 5,193,023,000) in issue during the Year, calculated as follows: Weighted average number of ordinary shares 2020 2019 Share’000 Share’000 Issued ordinary shares at the beginning 5,199,524 5,199,524 Effect of shares held for share award scheme (91) (7,165) Effect of awarded shares vested – 664 Weighted average number of ordinary shares during the year 5,199,433 5,193,023 5(b) Diluted earnings per share The calculation of diluted earnings per share is based on the profit attributable to owners of the Company of RMB535,604,000 (2019: RMB1,331,193,000) and the weighted average number of 5,199,433,000 ordinary shares (2019: 5,193,023,000) after adjusting for the effect of share award scheme, calculated as follows: (i) Profit attributable to owners of the Company (diluted) 2020 2019 RMB’000 RMB’000 Profit attributable to owners of the Company 535,604 1,331,193 Profit attributable to owners of the Company (diluted) 535,604 1,331,193 (ii) Weighted average number of ordinary shares (diluted) 2020 2019 Share’000 Share’000 Weighted average number of ordinary shares 5,199,433 5,193,023 Weighted average number of ordinary shares (diluted) 5,199,433 5,193,023 – 8 – 6 TRADE AND OTHER RECEIVABLES As at 31 December 2020 2019 Notes RMB’000 RMB’000 Non-current – Other receivables 72,100 365,900 Current – Trade receivables 235,495 222,812 Less: allowance for impairment of trade receivables (b) (36,842) (32,028) Trade receivables – net (a) 198,653 190,784 Other receivables 299,911 291,902 Less: allowance for impairment of other receivables (77,468) (27,883) Other receivables – net 222,443 264,019 Total of current portion 421,096 454,803 The carrying amounts of trade and other receivables approximate their respective fair values as at 31 December 2020 and 2019.

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