FURTHER DELAY IN DESPATCH OF CIRCULAR REGARDING THE MAJOR TRANSACTION: JOINT VENTURE ARRANGEMENT IN RESPECT OF DEVELOPMENT OF QINHUAI LAND

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CHINA MERCHANTS LAND LIMITED

招商局置地有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 978)

FURTHER DELAY IN DESPATCH OF CIRCULAR REGARDING

THE MAJOR TRANSACTION:

JOINT VENTURE ARRANGEMENT IN RESPECT OF

DEVELOPMENT OF QINHUAI LAND

Reference is made to the announcements of the Company (a) dated 16 June 2020 in relation to the major transaction in respect of joint venture arrangement for development of Qinhuai Land; and (b) dated 9 July 2020 in relation to the delay in despatch of the Circular (collectively, the Announcements"). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements unless the context otherwise requires.

As set out in the Announcements, the Stock Exchange has granted a waiver from strict compliance with Rule 14.41(a) of the Listing Rules provided that the Company will despatch the Circular on or before 11 September 2020. As additional time is required for the preparation and finalization of certain information to be contained in the Circular, including the accountants' report of the Project Company, the pro forma statement of the assets and liabilities of the Group combined with the assets and liabilities of the Project Company and a discussion and analysis of results of the Project Company, the Company has applied to the Stock Exchange for a further waiver from strict compliance with Rule 14.41(a) of the Listing Rules to postpone the despatch date of the Circular to a date falling on or before 30 November 2020.

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The Company is pleased to announce that on 11 September 2020, the Stock Exchange has granted the waiver provided that the Company will despatch the Circular on or before 30 November 2020. The waiver applies to this case only and the Stock Exchange may withdraw or change the waiver if the situation changes.

On behalf of the Board

China Merchants Land Limited

Xu Yongjun

Chairman

Hong Kong, 11 September 2020

As at the date of this announcement, the Board comprises Mr. XU Yongjun, Mr. HUANG Junlong and Ms. LIU Ning as non-executive Directors; Dr. SO Shu Fai, Mr. YU Zhiliang and Mr. WONG King Yuen as executive Directors and Dr. WONG Wing Kuen, Albert, Ms. CHEN Yanping, Dr. SHI Xinping and Mr. HE Qi as independent non-executive Directors.

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