IMPORTANT NOTICE THIS OFFERING IS AVAILABLE ONLY TO INVESTORS WHO ARE NON-U.S. PERSONS OUTSIDE OF THE U.S. IMPORTANT: You must read the following before continuing. The following applies to this preliminary offering memorandum following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of this preliminary offering memorandum. In accessing the preliminary offering memorandum, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from us as a result of such access. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. THE FOLLOWING PRELIMINARY OFFERING MEMORANDUM MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER. ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THIS DOCUMENT IN WHOLE OR IN PART IS UNAUTHORIZED. FAILURE TO COMPLY WITH THIS DIRECTIVE MAY RESULT IN A VIOLATION OF THE SECURITIES ACT OR THE APPLICABLE LAWS OF OTHER JURISDICTIONS. 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Within the United Kingdom, this preliminary offering memorandum is being directed solely at and may only be communicated to persons: who (i) fall within Article 19(5) or Article 49(2)(a)-(d) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, (ii) are outside the United Kingdom, or (iii) are persons to whom an invitation or inducement to engage in an investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise be lawfully communicated or caused to be communicated (all such persons collectively being referred to as “Relevant Persons”). This preliminary offering memorandum is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this preliminary offering memorandum relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This preliminary offering memorandum and its contents are confidential and should not be distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other person. Any person who is not a Relevant Person should not act or rely on this preliminary offering memorandum or any of its contents. You are reminded that this preliminary offering memorandum has been delivered to you on the basis that you are a person into whose possession this preliminary offering memorandum may be lawfully delivered in accordance with the laws of jurisdiction in which you are located and you may not, nor are you authorized to, deliver or disclose the contents of this preliminary offering memorandum to any other person. The materials relating to the offering do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that the offering be made by a licensed broker or dealer and the initial purchasers or any affiliate of the initial purchasers is a licensed broker or dealer in that jurisdiction, the offering shall be deemed to be made by the initial purchasers or such affiliate on behalf of the issuer in such jurisdiction. This preliminary offering memorandum has been sent to you in an electronic form. You are reminded that documents transmitted via this medium may be altered or changed during the process of electronic transmission and consequently, none of Goldman Sachs (Asia) L.L.C., Haitong International Securities Company Limited and Morgan Stanley & Co. International plc, as Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers (collectively, the “Joint Global Coordinators”) and Bank of China (Hong Kong) Limited and The Hongkong and Shanghai Banking Corporation Limited (collectively, the “Joint Bookrunners and Joint Lead Managers” and, together with Joint Global Coordinators, the “Joint Bookrunners”), or any person who controls any of them or any director, officer, employee or agent of any of them or affiliate of any such person accepts any liability or responsibility whatsoever in respect of any difference between this preliminary offering memorandum distributed to you in electronic format and the hard copy version available to you on request from the Joint Bookrunners. You are responsible for protecting against viruses and other destructive items. Your use of this e-mail is at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses and other items of a destructive nature. Offering Memorandum Strictly Confidential US$450,000,000 Longfor Properties Co. Ltd. 龍湖地產有限公司 (Incorporated in the Cayman Islands with limited liability) 3.875% SENIOR NOTES DUE 2022 Issue Price: 99.425% The 3.875% Senior Notes due 2022 (the “Notes”) will bear interest from July 13, 2017 at 3.875% per annum payable semi-annually in arrears on January 13 and July 13 of each year, beginning January 13, 2018. The Notes will mature on July 13, 2022. The Notes are senior obligations of Longfor Properties Co. Ltd. (the “Company”). We may at our option redeem the Notes, in whole or in part, at a redemption price equal to the greater of (x) 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest on the Notes to be redeemed, if any, to the date of redemption and (y) the Make Whole Price (as defined herein). We may at our option redeem the Notes, in whole but not in part, at any time, at their principal amount, together with accrued and unpaid interest, if any, to (but excluding) the date of redemption and Additional Amounts (as defined herein), if any, then due and which otherwise would be payable, upon certain changes in the tax laws of any Tax Jurisdiction (as defined herein) becoming effective that would impose withholding taxes or other deductions on the payments on the Notes. Upon the occurrence of a Change of Control Triggering Event (as defined herein), we will make an offer to repurchase all outstanding Notes at a price in cash equal to 101% of their principal amount plus accrued and unpaid interest, if any, to (but excluding) the repurchase date. The Notes will be the direct, unconditional and unsubordinated obligations of the Company, and rank pari passu with all other unsecured and unsubordinated obligations of the Company (other than obligations preferred by applicable law) and senior in right of payment to all other indebtedness of the Company that is designated as subordinate or junior in right of payment to the Notes. For a more detailed description of the Notes, see “Description of the Notes” beginning on page 138. Investing in the Notes involves risks. See “Risk Factors” beginning on page 14. Approval in-principle has been received from the Singapore Exchange Securities Trading Limited (the “SGX-ST”) for the listing and quotation of the Notes on the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained herein. Approval in-principle from, admission to the Official List of, and listing and quotation of the Notes on, the SGX-ST are not to be taken as an indication of the merits of the Company or the Notes. For so long as the Notes are listed on the SGX-ST and the rules of the SGX-ST so require, the Notes will be traded in a minimum board lot size of S$200,000 (or its equivalent in foreign currencies). Accordingly, the Notes will be traded in a minimum board lot size of US$200,000. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Notes are being offered and sold by the Initial Purchasers (as defined herein) only outside the United States to non-U.S.