Landsea Green Properties : UNAUDITED OPERATION STATISTICS

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LANDSEA GREEN PROPERTIES CO., LTD.

朗 詩 綠 色 地 產 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 106)

UNAUDITED OPERATION STATISTICS

The board (the ''Board'') of directors (the ''Directors'') of Landsea Green Properties Co., Ltd. (the ''Company'', together with its subsidiaries, the ''Group'') is pleased to announce that the contracted sales (including entrusted development management projects) for the period from 1 January 2021 to 30 March 2021 (the ''Period'') amounted to approximately RMB10.9 billion, representing an increase of 208% as compared with the corresponding period in 2020 and an increase of 211% as compared with the corresponding period in 2019.

The confirmed management services contracts value of the Group's real estate business in China was about RMB1.15 billion as at the end of 2020, of which approximately RMB300 million will be recognized during the Period.

In 2020, the Group's real estate business in the United States was severely affected by the epidemic, and the construction and delivery of units were delayed. As of the end of 2020, the value of sold and undelivered orders for the real estate business in the United States reached RMB2.72 billion, representing a year-on-year increase of 346%.

Based on the principle of prudence, the Group made an impairment provision for Avora project in New York and other projects in 2020. As the epidemic in the United States is gradually under control and the New York property market is recovering, the de-stocking rate of the Avora project has increased and 90% of which have been sold so far; the average unit price of the Avora project has also increased compared to the corresponding period last year.

By order of the Board

Landsea Green Properties Co., Ltd.

Chan Yuen Ying, Stella

Company Secretary

Hong Kong, 30 March 2021

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