On 13 October 2023, Landsea Green Management Limited and Landsea Green Life (for itself and on behalf of its subsidiaries) entered into the 2023 Properties Services and Properties Consulting Agreement, pursuant to which Landsea Green Life Group shall provide Properties Services and Properties Consulting Services to the Group for a term of three years commencing from 1 January 2024 to 31 December 2026. Pursuant to the 2023 Properties Services and Properties Consulting Agreement, Landsea Green Life Group agrees to provide the Group the Properties Services and Properties Consulting Services which include (i) property management services, including but not limited to, preliminary property management services for property projects prior to their delivery to the property owners, management services for property units and car parking lots which remain unsold and house repairing services; (ii) sales agency services for residential properties, commercial properties and car parking lots of property projects which remain unsold; and (iii) pre-delivery property consultancy and management services, including but not limited to, preliminary planning and design consultancy services and display units managements services. The service fees of the Properties Services and Properties Consulting Services provided by Landsea Green Life Group pursuant to the 2023 Properties Services and Properties Consulting Agreement will be determined based on the fee quotes submitted to the Group based on prevailing market prices, with reference to the rates generally provided by independent third parties to the Group and the rates generally provided by Landsea Green Life Group to independent third parties, being persons who are not connected with the Company under Chapter 14A of the Listing Rules, in respect of comparable services.

On 13 October 2023, the Company (for itself and on behalf of its subsidiaries) and Landsea Group (for itself and on behalf of its subsidiaries) entered into the 2023 Project Management Services Agreement, pursuant to which the Group shall continue to provide Project Management Services to Landsea Group and its subsidiaries for a term of three years commencing from 28 December 2023 to 27 December 2026. The Group shall provide Project Management Services to Landsea Group and its subsidiaries. The Project Management Services include: (i) project management services at early stage, including customers survey, project positioning planning, planning and design management and project prophase management; (ii) sales management, including operation and planning management and customers services and supervision; (iii) construction and delivery management services, including procurement management, cost control, engineering construction management, completion acceptance and delivery management, customers services and maintenance management; (iv) other management services, including administration management, human resources management, drawings and files management and financial management; (v) financing consulting services; and (vi) sales arrangement services for the sale of projects at their sale stage.

Pricing and payment: Pursuant to the 2023 Project Management Services Agreement, (i) the price for provision of project management services at early stage, sales management services, construction and delivery management services, other management services and financing consulting services by the Group shall be based on the prevailing market price of the similar services provided by the Group, which shall be no less favourable than that offered by the Group to independent third parties; and (ii) the price for provision of sales arrangement services for sale of projects shall be determined according to the standard price based on market practice. In order to make sure the prices actually charged are on normal commercial terms and are not less favourable than those offered by the Group to independent third parties, the Group will conduct inspection to review and assess whether the services are carried out pursuant to the relevant agreement and are not less favourable than those terms offered to independent third parties before entering into any new transaction. The payment terms of Project Management Services will be based on normal commercial terms and common practice, and are not less favourable than those terms offered by the Group to independent third parties.

The fixed term of the 2023 Project Management Services Agreement is three years commencing from 28 December 2023 to 27 December 2026.