Land Bank & Urban Redevelopment III Product Excellence IV Development Strategy & Outlook Appendix

Logan Group Company Limited 2020 Interim Results Announcement

August 2020 Contents I Results Highlights II Land Bank & Urban Redevelopment III Product Excellence IV Development Strategy & Outlook Appendix

Acesite Park · Shenzhen 2020 Interim Results Highlights

Continued leadership in profitability with clear Abundant premium land bank & advantages in Solid financials & lower financing cost 1 growth visibility 2 urban redevelopment projects 3  Profit attributable to the owners of the company reached  Abundant premium land bank with saleable  Net gearing of 68.3%; Interest coverage ratio of 4x; over RMB 6.1 bn, up 20.1% YoY resources of RMB 934.0bn, of which the value of 1H2020 average interest rate of new financing:  Core profit(1) attributable to the owners of the company Greater Bay Area land bank is about RMB 762.0bn, 5.45%; Weighted financing cost: 5.93% exceeded RMB 5.3bn (+18.3%), with a core profit margin accounting for 82% of 17.6% (1H2019:17.3%)  The total cash amounts to RMB 41.9bn, and the  Near-term saleable resources reached RMB 479.1bn, short-term debt to cash ratio reached 2x  Attributable contracted sales reached RMB 46.35bn sufficient to achieve attributable contracted sales (+12.1%) in 1H2020, achieving 42% of 2020 annual growth target in the next three years  Diversified financing channels: On July 24th, the attributable contracted sales target, leading the industry Company issued 3+2 year domestic corporate  Saleable resources from urban redevelopment in attributable contracted sales growth bonds with an interest rate as low as 4.69%  2020TTM ROE reached 35.4%, with average ROE reached RMB 454.9bn, with high value, good exceeding 30% for 8 consecutive years geographic footprint and short incubation period  Lianhe Global and China Chengxin Asia Pacific upgraded the Company's rating to investment Attributable contracted sales Newly added land bank breakdown in 1H2020 grade BBB-, S&P and Fitch’s tied to credit rating of YoY growth BB (RMB mn) 46,354 12% 41,370 Net gearing Urban Saleable Public tender 67.4% 68.3% redevelopment resources and auctions 2% RMB 68.0 bn RMB RMB 61.2 bn 53% 129.2bn 47% 1H2019 1H2020 Average of Logan HK-listed PRC developers 2019/12/31 2020/6/30 Saleable value of land bank ROE 934 (RMB bn) Weighted financing cost 35.5% 35.4% +12.2% 6.1% 6.1% 5.93% 17.8% 832 6.0% 5.45%

2019 2019 2020 TTM 2018 2019 1H2020 Average of HK-listed PRC 2019/12/31 2020/6/30 Average borrowing rate New borrowing rate developer stocks

Note: (1) The core profit mainly excludes changes in the fair value of investment properties and changes in the fair value of derivative financial instruments and related deferred taxes 2 2020 Interim Results Highlights (cont’d)

4 Attractive and stable dividends 5 Leading city’s comprehensive services provider 6 Continuous ESG Rating upgrade

 The Company is a constituent of Hang Seng High  The four-wheel driven strategic development goals : Corporate Governance Dividend Yield Index, with a dividend yield of 6.3% in 2019, which ranks first among top ten(1) HK-listed Introduced long-term partnership plan to create and PRC developers share value  Highly recognized corporate governance  The interim dividend is HK43 cents per share, Attributable contracted  “Fortune” China's Top 50 Board of Directors accounted for ~40% of attributable core profit. Residential sales to increase by Development  No.4 corporate governance of listed China Since our IPO in 2013, a total dividend of HKD 3.03 ~20% per year has been distributed, far exceeding the IPO price property company in 2020 (HKD 2.1) Environmental Dividend yield(2) Promoted energy conservation and emission reduction, empowering urban green and healthy 6.3% 6.2% living Urban New engine for earnings  103 projects built with green design , of which 15 3.9% Redevelopment growth, accounting for ~20% obtained green certificates of annual core profit Social Became a corporate citizen recognized by 2019 2019 2020TTM customers, employees, partners and the community Average of top  Logan's public welfare activities benefited more ten HK-listed PRC than 200 projects covering more than 20 cities, developer stocks Commercial The operational area will reach with 15,000 volunteers participating and over Operation 5mn sq.m. in 5 years 30,000 hours of services Dividend per share (HKD) Recognition 0.83 0.75  Upgraded by MSCI's ESG rating to "BB“  Awarded by the Real Estate TOP10 Research Group as 0.36 0.38 0.43 the 2020 Chinese Real Estate Enterprise of Excellent ESG Development Industrial The leasable project area will operation reach 2mn sq.m. in 5 years 2017 2018 2019 1H2019 1H2020 Create long-term growth value

Notes (1) In terms of market capitalization (2) The 2019 dividend yield rate is the percentage of the FY2019 dividend to the closing price on Dec. 31, 2019; the 2020TTM dividend yield rate is the sum of the 2019 final dividend and the interim dividend for 2020 as a percentage of the closing price on Aug. 20, 2020 3 Contracted sales: continued steady growth

Attributable contracted Average selling price Proportion of Greater Sales growth in the sales Bay Area Yangtze River Delta RMB 46.35bn RMB 14,985/sq.m. 60.1% 70%

YoY growth 12.1% YoY growth 13.6% Regional penetration Rapid growth in new regions

Attributable contracted sales Attributable contracted GFA(1)

+12.1% (RMB mn) 46,354 (thousand sq.m.) 41,371 10.4% 3,144 3,043 3.5% 7.2% 3.7% 9.4% 35,189 4.6% 2.4% 0.7% 1.5% 15.9% 8.5% 0.6% 22.3% 3.2% 30.8% 21.5% 41.3% 1,809 30.6% 13.4%

60.1% 45.4% 70.0% 55.0% 47.1% 49.7% 41.2%

1H2018 1H2019 1H2020 1H2018 1H2019 1H2020

Greater Bay Area Southwest Region Yangtze River Singapore Other regions Notes (1) The contracted sales GFA does not include the parking space 4 1H2020 attributable core profit surpassed RMB 5.3bn (+18.3%) with industry-leading profitability 2020 TTM ROE reached 35.4%

Revenue Attributable Core profit(1) and margin

（RMB mn）（RMB mn）

+14.9% 31,035 19.4% 17.3% 17.6% 27,022 5,334 4,510 Attributable Core Profit 15,154 2,938 Over RMB 5.3bn

YoY 18.3% 1H2018 1H2019 1H2020 1H2018 1H2019 1H2020 Core Profit Margin Gross profit and margin ROE 17.6%

（RMB mn） 37.0% 34.5% 35.2% Maintain at top in the industry 35.5% 35.4% 31.5% 10,934 30.6% Average ROE exceeding 30% 9,392 for 8 consecutive years Average ROE of Chinese developer stocks: 17.8% in 2019 5,611

1H2018 1H2019 1H2020 2017 2018 2019 2020TTM

Notes (1) Core profit excludes changes in fair value of investment properties and changes in fair value of derivative financial instruments and related deferred taxes 5 Attractive and stable long-term dividends The cumulative dividend per share has reached HKD 3.03 since IPO, far exceeding the IPO price (HKD 2.1)

Dividend per share Excellent dividend yield

（HK cents） (2) 140 Dividend yield 120 100 HK$0.83 HK$0.75 80 Interim 6.3% 6.2% 15 dividend 60 HK$0.41 45 HK$0.43 40 HK$0.25 5 40 HK$0.11 HK$0.14 17 20 HK$0.11 3 38 43 22 19 20 0 11 11 14 2013 2014 2015 2016 2017 2018 2019 2020E Interim dividend Final dividend Special dividend 3.9%

Annual dividend payout ratio (1)

80%

60% 50.0% 40.0% 40.0% 40.0% 40.0% 40% 33.1% 21.6% 1 20% 13.3% 9 2019 2019 2020TTM 0% Average of top (3) 2013 2014 2015 2016 2017 2018 2019 2020E 10 mainland real estate stocks

Notes (1) Dividend payout ratio = dividends / core profit attributable to owners of the company (2) The 2019 dividend yield rate is the percentage of the FY2019 dividend to the closing price on Dec. 31, 2019; the 2020TTM dividend yield rate is the sum of the 2019 final dividend and the interim dividend for 2020 as a percentage of the closing price on Aug. 20, 2020 6 (3) In terms of market capitalization Stable and solid financial health, widely recognized by rating agencies with lower financing costs RMB 41.9bn cash on hand; 2x one-year borrowings Recognized off-shore ratings Stable on-shore ratings  Lianhe Global：BBB- Investment Grade  China Chengxin International：AAA  China Chengxin APAC：BBB- Investment Grade  United Credit：AAA  S&P：BB  Fitch：BB

Robust debt structure Reasonable maturity profile Lower financing cost

Onshore Offshore Bank 6.1% 6.1% Borrowings Within One Year 5.93% Senior Notes Two to Five Years 30% 32% 29% 51% Total 6.0% Debt: 5.45% RMB 77.6bn Onshore Corporate Offshore Bonds Bank 27% Borrowings One to Two Years 12%  Total Debt: 2018 2019 1H2020 RMB 77.6bn 19% Average borrowing rate  Onshore：56% New borrowing rate  Offshore：44%

7 Contents

I Results Highlights II Land Bank & Urban Redevelopment III Product Excellence IV Development Strategy & Outlook Appendix

Daya Bay Project · Huizhou Saleable resources of RMB 934.0bn, covering four major fast- developing regions with more than 30 cities

Land bank Total GFA 64.01mn sq.m.

Total saleable resources RMB 934bn

Saleable resources in GBA Yangtze River Delta 82% GFA: 12.4mn sq.m. Middle GFA: 0.98mn sq.m. region Saleable resources: RMB 99.4bn Saleable resources: RMB 15.8bn Southwest Land cost region RMB 4,610/sq.m. GFA: 44.89mn sq.m. GBA Saleable resources: RMB 762bn Other Average land cost to selling price region(1) GFA: 5.61mn sq.m. Saleable resources: RMB 46.3bn 31.6% GFA: 0.13mn sq.m.

Saleable resources: RMB 10.5bnSingapore

Notes (1) Other regions include Hainan, Shantou and Shanwei 9 GBA saleable resources of RMB 762bn with significant first-mover advantage; saleable resources in Pan-Shenzhen Area of RMB 389.9bn, with long-term growth potential

Nationwide city service provider Total saleable resources value in Greater Shenzhen RMB 389.9bn Singapore Other regions Yangtze River 1% 4% Delta 2% Southwest region 11%

Total saleable resources Zhaoqing RMB 934bn Guangzhou Huizhou Saleable resources: GBA RMB 102.8bn 82% Foshan Guangdong Saleable resources: RMB 122.9bn Other GBA regions Shenzhen Zhongshan 7% Shenzhen Zhongshan Saleable resources: 8% 22% RMB 164.2bn HK Macao Guangzhou Jiangmen 11% GBA Zhuhai saleable resources RMB 762bn Dongguan 16% Foshan 11%

Zhuhai Huizhou 12% 13%

10 Optimized land development cycle The near-term land bank is sufficient to support the growth target of attributable contracted sales in the next three years

Land Bank Geographic Mix GFA Land Bank % Regions （mn sq.m.）（RMB bn） Shenzhen 1.20 91.1 19%

Huizhou/ Dongguan 7.45 76.9 16% Guangzhou/ Foshan/ 7.51 80.4 17% Zhaoqing Zhuhai/ Zhongshan 3.48 47.0 10% Near-term Total Saleable3,250 亿M&A & Urban Other GBA 3.34 23.3 5% Land Bank Redevelopme 51% Resources nt Projects Hong Kong 0.04 13.5 3% RMB 934bn 49% GBA-subtotal 23.02 332.2 70% RMB 64.01mn sq.m. RMB 479.1bn 454.9bn Southwest Region 10.35 80.7 17% 39.20mn sq.m. 24.81mn sq.m. Yangtze River Delta 0.98 15.8 3%

Singapore 0.13 10.5 2%

Other Regions 4.72 39.9 8%

Total 39.20 479.1 100%

11 Continuous expansion of land bank through multi-channels 2020 newly added saleable resources amounted to RMB 129.2bn

Newly added saleable Newly added by Public tender and auctions: RMB 61.2bn resources in 2020 GFA Land Bank Regions （mn sq.m.）（RMB bn） % GFA: 6.47mn sq.m. Shenzhen 0.26 16.3 27% Foshan 0.40 8.1 13% Guangzhou 0.14 4.6 7% Salable resources: RMB 129.2bn Huizhou 0.38 2.9 5% GBA-subtotal 1.18 31.9 53% Southwest Region 1.03 15.3 25% Yangtze River Delta 0.19 7.0 11% New Land Bank Multiple Land Acquisition Other Regions 0.61 7.0 11% Channels 2020 Total 3.01 61.2 100% Other Regions 10% Yangtze River Newly added by Urban redevelopment: RMB 68.0bn Delta 5% Foshan 8% Shantou 9% Guangzhou Southwest Salable Public Urban Zhongshan 50% Region Redevelop Resources tender 14% 12% ment RMB and 53% auctions 129.2bn 47% Dongguan 19%

GBA 91% new urban redevelopment projects are in GBA 73%

12 Urban redevelopment: new growth engine, target to convert >RMB 150bn saleable resources and contribute approx. 20% of core profit annually in next 3 years Urban Logan’s strengths in urban redevelopment projects redevelopment Convertible saleable Professional Team Extensive Experience Excellent Record resources RMB 454.9bn Brand Reputation Abundant Project Reserves Potential land bank conversion 24.81mn sq.m. Continuous accumulation, conversion and value realization of urban redevelopment projects No. of cities Urban Redevelopment Pipeline Transform & Incubate Land Development 11 Outside GBA  Approx. 94% are located in Zhongshan Shenzhen the international 8% 6%  In the next 3 years, the No. of projects 15% metropolitan area of GBA, saleable resources will with high value, good 87 Guangzhou exceed RMB 150bn, 16% geographical footprint and contributing about 20% short incubation period of the core profit each Dongguan GBA Foshan  The value of the area that year 7% 25% 94% can be independently Zhuhai Huizhou transformed is about RMB 15% 8% 290.3bn

Multiple Land Acquisition Low Cost of Land Bank High Profitability and Return Channels Acquisition Rate

13 Urban redevelopment: accumulated conversion of 5.6mn sq.m. with saleable resources exceeding RMB 90bn in the past 3 years

Multi-channels Conversion High Conversion Value

Multi-channels incubation including overall village planning, In the past 3 years, a total area of 5.6mn sq.m. has been independent transformation, purchasing, reserving and listing built, with a value of over RMB 90bn

烦请公司提供相关图片烦请公司提供相关图片

Shenzhen Logan Headquarters Huizhou Daya Bay Project Foshan Acesite Park Dongguan Jiangnan Royal City Nanshan, Shenzhen Daya Bay, Huizhou Chancheng, Foshan Chang’an, Donguan

By subway central-region Large-scale project close Integrated development 1H2020 sales volume project to Shenzhen project champion in Dongguan GFA: 270k sq.m. GFA: 2.26mn sq.m. GFA: 660k sq.m. GFA: 290k sq.m.

14 Contents

I Results Highlights II Land Bank & Urban Redevelopment III Product Excellence IV Development Strategy & Outlook Appendix Continuous product innovation, creating high-quality products 1. Successfully established four mature product series, including the SKY, Acesite, Jiangnan, and Modern Series, with continuous upgrade and evolvement. Located in core cities in the Greater Bay Area, Pan-Shanghai, Guangxi and Chengdu Area, highly recognized and praised by the market and home buyers 2. Endeavour to develop high-end modern-style products and build a technology-driven, healthy, and international product series SKY Acesite Jiangnan Modern Tang Dynasty Décor Beautiful Natural Landscape Jiangnan Style International Standard Chinese Classic Style Finely Crafted Mansions Gentleman’s Hall Perfect Home

16 Continuous product innovation: healthy and smart “Chip" system with technology empowering healthy livings

“Chip System”

6 major technology themes

Barrier-free Premium 3 health loops Remote office community apartment layout Healthy and Community Environmental- Corridor Cozy design with walkway great storage friendly material comfortable scenes volume Smart “chip” living style

Full coverage of Full security Smart Logan services insecticide coverage information Cloud safety Common room Smart monitor guard reservation

All system Wind Light Water Sound Smart home interconnection Cloud-community integrated For all ages and for all time management system

17 Continuous product innovation: creating a congenial community for all ages . Happy all-age community: 10 modules for all ages, covering from infants, youth, adults to the elderly, including various sports and entertainment life scenes 10 Life modules for all ages and for all ages

Infant cognitive Child release Child confrontation Youth sports Adult social Elderly care Recreational Entertainment Natural perception Pet living system model model model model model model sports system social system system

For all For all For all For all ages ages ages ages

Cognitive Physical Peer Power and Spiritual comfort Recreation & Sports ecology Life experience Natural & plant Pet care & enlightenment exertion & competitions energy release & Social Fitness & & community perception physical Safe & Body control and interaction Leisure social exertion comfortable communication

Children's activity place Youth sports Landscape Elderly activity Fitness trail & Outdoor Plant science Pet park venue parlor venue comprehensive swimming pool Experience sports venue Garden 18 Contents

I Results Highlights II Land Bank & Urban Redevelopment III Product Excellence IV Development Strategy & Outlook Appendix

Logan Century · Nanning 4-Wheel Driven strategy, based on the strategic positioning as the "city’s comprehensive services provider"

N: Customers & Partners

Focusing on the positioning of "city’s comprehensive services provider", Logan Group accurately implements the "4+N" development Residential Urban strategy development redevelopment

Industrial Commercial operation City comprehensive Business covers four core sections: operation service provider residential development, urban redevelopment, commercial operation, and industrial operation

20 Expanding commercial portfolio with focus on mega metro-oriented shopping malls offering experimental retail experiences Commercial operational area will reach 5 mn sq.m. in 5 years

Shenzhen Logan Shenzhen Acesite Carat Complex Park Complex GFA: 79,000 sq.m. GFA: 80,000 sq.m. Year of Opening: 2021 Year of Opening: 2021

Nanning Glory Foshan Acesite City Complex Park Complex GFA: 120,000 sq.m. GFA: 36,000 sq.m. Year of Opening: 2022 Year of Opening: 2023

21 Commercial portfolio: 18 metro projects in Shenzhen, with 9 commercial operation projects

Shenzhen: Mid to Long Term Railway Transit Planning 10.Shiyan Project

1.Acesite Park 11. Shenhui Logan Mall Fenghuang City Station Shuangyongjie Station Julongshan Station 2.Fuyong Project 1 Qiankeng Station 12. Pinghu Project Guantian Station Shahu Station

3. Fuyong Project 2 Tangwei Station Shangtang Station Henggang Station 13.The Masterpiece Hongshan Station 4. Logan Carat Complex Shangmeilin Station 14. Acesite Castle Baishilong Station 5. Acesite Mansion 15. Acescene Park Qiaocheng East Station Baohua Station 6. Century Center 16. Henggang Project 7.Qianhai Project Qianwan Park Station

Fubao Station 17. Shangmeilin Project Nanyouxi Stationou 8. Shekou FTZ Project

18. Fubao Project 9. Logan Center

Developed Pipeline Projects Projects

22 Leverage on urban redevelopment project resources provides high value-added industrial operation services to high-tech enterprises on their R&D, data centre, service and operation centre, etc., to enhance regional value and achieve stable rental income The leasable project area will reach 2mn sq.m. in 5 years

Huiwan - New generation digital industry port

23 Long-term partnership program aligning industry talents for value creating and sharing

Direct share purchase 1 Reward the senior management members with repurchased shares from secondary market, motivate partners to create satisfactory growth for the company, creating and sharing the growth value

Attractive incentives 2 Purchase up to 3% of total share capital of the company, attracting top-notch industry talents

Rigorous assessments 3 The reward amount is based on annual earnings growth, linked with company performance and share price, and will only execute after completing the 5-year profit growth plan Long-term partnership 4 The partnership plan lasts for 15 years, binding management team with the company to ensure organization’s competitiveness and stability

24 2H2020: Abundant saleable resources to support sales growth

 Full year launch of RMB 180bn, 72 projects with saleable resources of ~RMB 100bn to be launched in 2H2020 GBA

Others Saleable value 8% Region of land bank % Singapore (RMB bn) 7% Shenzhen 25.8 31.4% Yangtze River Delta 5% Foshan 14.3 17.4% 2H20 Zhuhai 10.6 12.9% GBA Total Saleable Huizhou 8.6 10.5% 62% Resources Zhongshan 6.2 7.5% ~RMB 134bn Dongguan 5.7 6.9% Guangzhou 4.0 4.9% Other GBA 7.0 8.5% Southwest Region GBA Total Saleable in 18% 82.2 100% 2H2020

25 Contents

I Results Highlights II Land Bank & Urban redevelopment III Product Excellence IV Development Strategy & Outlook Appendix

Acesite Park · Shenzhen Appendix: Summary of statement of profit or loss

1H 2020 % of Revenue 1H 2019 % of Revenue Change

（RMB mn ）

Revenue 31,035 100.0% 27,022 100.0% 14.9% Gross profit 10,934 35.2% 9,392 34.8% 16.4% Profit during year 6,285 20.3% 5,290 19.6% 18.8% Profit attributable to the owner of the Company 6,157 19.8% 5,128 19.0% 20.1% Core Profit(1) 5,462 17.6% 4,672 17.3% 16.9% Core Profit attributable to owners of the Company 5,334 17.2% 4,510 16.7% 18.3% Earning per share

- Basic（RMB cent） 110.28 - 91.87 -

- Diluted（RMB cent） 109.41 - 90.45 -

Interim Dividend(HK Cents） 43 - 38 -

Note (1) Core profit excludes the changes in fair value of investment properties and derivatives financial instruments and relevant deferred tax

27 Appendix: Summary of statement of financial position

30/6/2020 31/12/2019 Change

（RMB mn）

Total Asset 240,217 206,010 16.6% Equity attributable to equity shareholder 37,570 34,194 9.9% Total Equity(1) 52,223 42,994 21.5% Cash and Bank Balance(2) 41,904 40,705 2.9% Contract Liability 26,030 (Account received in advance) 31,695 21.8% Total Borrowing 77,578 69,678 11.3% Net gearing ratio 68.3% 67.4%

Notes (1) Include non-controlling interest and perpetual capital securities (2) Include restricted and pledged deposits 28 Disclaimer

These materials have been prepared solely for the Company presentation. The Company do not have representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in these materials. None of Logan and its member, and advisors, and representatives shall have any liability whatsoever (in negligence, misrepresentation, tort, contract, or otherwise) for any loss or damage howsoever arising from any use of these materials or its contents or otherwise arising in connection with these materials. Certain information contained in these materials constitutes forward- looking statements. This report contains forward-looking statements. In addition to historical statements, other statements, including events, activities, and developments that the Company anticipates or expects to occur in the future are only likely to occur in the future.

Due to numerous uncertainties, including but not limited to price fluctuations, changes in demand, foreign exchange rate, market share, competition, market risks, legal changes, fiscal policy adjustments, government policy adjustments, changes in international economic and financial markets, policy risks, expectations on costs and other unanticipated risks, Greentown’s actual performance and development might differ from the forward-looking statements contained in the report.

The Company makes the above forward-looking statements based on the current status and is not responsible for the information update. The information contained in this report is for reference only and is not intended to be a recommendation to subscribe for any Greentown stock or bond.

29 Contact information

China Address: 21/F, Tower B, Logan Century Center, Xinghua Road South, Bao’An District, Shenzhen, China Tel: (+86) 755 8528 8221 Fax: (+86) 755 8528 8321

Hong Kong Address: Unit Nos. 02–03A, Level 68, International Commerce Centre, 1 Austin Road West, Hong Kong, China Tel: (+852) 2823 9200 Fax: (+852) 2175 5098

Investor Relation Department Contact Email: [email protected]