Shui On Land : ANNOUNCEMENT - 2021 ANNUAL RESULTS PROFIT ALERT

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.

Shui On Land Limited

瑞安房地產有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 272)

ANNOUNCEMENT

2021 ANNUAL RESULTS PROFIT ALERT

This announcement is made by Shui On Land Limited (the "Company", together with its subsidiaries, the "Group") pursuant to the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) under Part XIVA of the Securities and Futures Ordinance (Cap. 571) and Rule 13.09(2)(a) of the Listing Rules.

The board of directors of the Company (the "Board") wishes to inform potential investors and shareholders of the Company that, based on the information currently available to the Company, it is estimated to record a net profit attributable to the shareholders of approximately RMB1,600 million for the year ended 31 December 2021 as compared to the net loss attributable to the shareholders of RMB740 million for the corresponding period in 2020. The net profit attributable to the shareholders for the year ended 31 December 2021 is subject to our auditor's final confirmation. Such improvement in the financial results is mainly due to, among other things, the following factors:

1. The handover of residential units to buyers of Taipingqiao Lakeville Phase V, Wuhan Tiandi La Riva II and Panlong Tiandi drives the increase in revenue and the Group's results for the year ended 31 December 2021; and
2. During the year of 2020, operations and performances of our investment properties were significantly affected by the outbreak of COVID-19, resulting in a notable decline in rental and related income. There was no such significant negative impact during the year ended 31 December 2021.

1

For the full year of 2021, notwithstanding the ongoing impact from COVID-19 on the global economies, with China having substantially contained the COVID-19 outbreak during 2021, China showed a year-on-year 8.1% growth. The Company remains cautiously optimistic regarding its operations. It will continue to monitor the situation closely in 2022, including the Group's financial and operational positions, and will quickly adapt our plans to cope with the changing circumstances.

The information contained in this announcement is based on a preliminary review and analysis on the internal management accounts available as of the date of this announcement, which have not been audited or reviewed by the auditors of the Company.

The Company is still in the process of finalizing the results of the Group for the year ended 31 December 2021. Details of the Group's financial information for the period is expected to be disclosed in its final results announcement on 24 March 2022.

Shareholders of the Company and potential investors are advised to exercise caution in dealing in the securities of the Company.

By Order of the Board

Shui On Land Limited

Vincent H. S. LO

Chairman

Hong Kong, 14 March 2022

At the date of this announcement, the executive directors of the Company are Mr. Vincent H. S. LO (Chairman), Ms. Stephanie B. Y. LO, Ms. Ying WANG (Chief Executive Officer) and Mr. Douglas H. H. SUNG (Chief Financial Officer and Chief Investment Officer); and the independent non-executive directors of the Company are Professor Gary C. BIDDLE, Dr. Roger L. McCARTHY, Mr. David J. SHAW, Mr. Anthony J. L. NIGHTINGALE, Mr. Shane S. TEDJARATI and Ms. Ya Ting WU.

• For identification purposes only

2