Response to SGX Queries::

DEBAO PROPERTY DEVELOPMENT LTD.

(Incorporated in the Republic of Singapore)

(Company Registration No. 200715053Z)

RESPONSE TO QUERIES FROM SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (THE "SGX-ST") ON THE ANNOUNCEMENT OF APPOINTMENT OF YUAN MINYANG AS EXECUTIVE DIRECTOR

The Board of Directors (the "Board") of Debao Property Development Ltd. (the "Company") wishes to announce the following in response to the queries raised by the SGX-ST on 20 September 2021 in relation to the announcement of the appointment of Mr Yuan Minyang ("Mr Yuan") as Executive Director made by the Company on 17 September 2021.

SGX-ST's Query 1

In accordance with Rules 704(7) and 720(1) of the Listing Manual, please confirm that the undertaking from Yuan Minyang will be submitted to the Company in the form of Appendix 7.7 by Wednesday, 22 September 2021.

Company's Response

The Company confirms that it has received the undertaking from Mr Yuan in the form of Appendix 7.7.

SGX-ST's Query 2

In accordance with Rule 210(5)(a) and Practice Note 2.3 of the Listing Manual, please confirm that Yuan Minyang will undergo training in the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange.

Company's Response

As disclosed in our announcement of the appointment of Mr Yuan dated 17 September 2021, the Company confirms that it will arrange for Mr Yuan to undergo training in the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange conducted by the Singapore Institute of Directors within one year from the date of his appointment as Executive Director.

By Order of the Board

Zhong Yuzhao

Executive Director and Chief Executive Officer

22 September 2021