Landsea Green Properties : DELAY IN DESPATCH OF CIRCULAR IN RELATION TO (1) MAJOR TRANSACTION IN RELATION TO THE MERGER AND (2) PROPOSED SPIN-OFF AND SEPARATE LISTING OF LANDSEA HOMES INCORPORATED

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.

LANDSEA GREEN PROPERTIES CO., LTD.

朗 詩 綠 色 地 產 有 限 公 司

(Incorporated in Bermuda with limited liability)

(STOCK CODE: 106)

DELAY IN DESPATCH OF CIRCULAR

IN RELATION TO

1. MAJOR TRANSACTION IN RELATION TO THE MERGER AND
2. PROPOSED SPIN-OFF AND SEPARATE LISTING OF LANDSEA HOMES INCORPORATED

Reference is made to the announcement of Landsea Green Properties Co., Ltd. (the ''Company'') dated 31 August 2020, relating to the Merger and the Proposed Spin-off (the ''Announcement''). Unless otherwise stated, terms used herein shall have the same meanings as defined in the Announcement.

As disclosed in the Announcement, a circular (the ''Circular'') containing, among other things, (i) further details of the Merger and the Proposed Spin-off; (ii) a letter of advice from the Independent Board Committee to the Independent Shareholders on the Merger, the Proposed Spin-off and the transactions contemplated thereunder; (iii) a letter of advice from Trinity Corporate Finance Limited to the Independent Board Committee and the Independent Shareholders in relation to the Merger, the Proposed Spin-off and the transactions contemplated thereunder; and (iv) a notice of the SGM and a form of proxy, will be despatched to the Shareholders on or before 21 September 2020.

As additional time is required to prepare and finalise certain information to be included in the Circular, the Company has applied to the Stock Exchange for and the Stock Exchange has granted a waiver from strict compliance with Rule 14.41(a) of the Listing Rules for an extension of the date of despatch of the Circular to on or before 23 October 2020.

By order of the Board

Landsea Green Properties Co., Ltd.

Chan Yuen Ying, Stella

Company Secretary

Hong Kong, 18 September 2020

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As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Tian Ming, Mr. Huang Zheng, Ms. Shen Leying and Mr. Jiang Chao, one non-executive Director, namely Mr. Zhou Yimin, and three independent non-executive Directors, namely Mr. Xu Xiaonian, Mr. Chen Tai-yuan and Mr. Rui Meng.

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