Jinmao China Hotel Investments and Management : ANNOUNCEMENT MADE PURSUANT TO RULE 13.18 OF THE LISTING RULES

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.

Jinmao Hotel

金 茂 酒 店

(As constituted pursuant to a deed of trust on 13 June 2014 under the laws of Hong Kong,

the trustee of which is Jinmao (China) Investments Manager Limited)

and

Jinmao (China) Hotel Investments and Management Limited

金 茂（ 中 國 ）酒 店 投 資 管 理 有 限 公 司

(Registered in the Cayman Islands with limited liability)

(Stock Code: 06139)

ANNOUNCEMENT MADE PURSUANT TO

RULE 13.18 OF THE LISTING RULES

This announcement is made by the Trustee-Manager and the Company pursuant to Rule 13.18 of the Listing Rules.

Reference is made to the Trustee-Manager' s and the Company' s:

1. announcement dated 9 September 2016 in relation to, among others, the facility letter dated 2 September 2016 obtained by the Company from DBS, pursuant to which DBS agreed to grant a US$250,000,000.00 term loan facility to the Company for a term of up to two years; and
2. announcement dated 8 March 2018 in relation to the Supplemental DBS Facility Letter, pursuant to which the term of the term loan facility was extended to 23 May 2020 and the proceeds of the loan facility would be used towards general capital expenditure and dividend payment of the Company.

On 26 February 2020, the Company (as borrower) and DBS (as lender) entered into the Second Supplemental DBS Facility Letter, pursuant to which the term of the term loan facility has been extended to 23 May 2022.

Pursuant to the terms of the Second Supplemental DBS Facility Letter, if China Jinmao does not or ceases to own at least 51% of the issued Share Stapled Units of the Company from time to time, free from any Security, it constitutes an event of default.

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DBS shall be entitled at any time after the occurrence of an event of default by notice in writing to the Company to declare that:

1. the facility is cancelled in whole or in part, whereupon the facility or such part shall be cancelled immediately; and/or
2. all or part of the loan, together with accrued interest, and all other amounts accrued or outstanding under the Second Supplemental DBS Facility Letter is immediately due and payable, whereupon they shall become immediately due and payable and the Company shall immediately pay them to DBS; and/or
3. all or part of the loan is payable on demand, whereupon it shall immediately become payable on demand by DBS on the instructions of DBS.

In addition, an event of default under the Second Supplemental DBS Facility Letter may trigger cross default under other existing loan agreements and guarantees of the Company and, as a possible consequence, these other loans and guarantees may also be declared to be immediately due and payable.

GENERAL INFORMATION

As at the date of this announcement, China Jinmao is the controlling holder of the Share Stapled Units of the Company and Jinmao Hotel, and beneficially owns 66.77% of the issued Share Stapled Units.

DEFINITIONS

In this announcement, unless the context otherwise requires, the following expressions have the following meanings:

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Chairman

Hong Kong, 26 February 2020

As at the date of this announcement, the directors of the Trustee-Manager and the Company are Mr. LI Congrui (Chairman), Mr. ZHANG Hui and Mr. JIANG Nan as non-executive directors; Mr. TANG Yong as executive director and Chief Executive Officer; and Dr. CHUNG Shui Ming Timpson, Dr. CHEN Jieping and Dr. XIN Tao as independent non-executive directors.

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