Glonghui, May 9, 丨 Langing—SS (01270.HK) announced that the joint stock positions issued for the six-month period ending December 31, 2023 have been approved by the Stock Exchange for listing and trading, subject to (i) approval by the independent share contract holder of the supplementary agreement; and (ii) compliance with all terms and conditions under the hotel management agreement, trademark license agreement and supplementary agreement. LHIL Assets Holdings Limited (“LHILAssets”) has been nominated by the hotel manager to collect a share joint position to pay the manager's fees in accordance with the terms of the hotel management agreement and trademark license agreement. The supplementary agreement was signed on May 8, 2024 as it was approved by the independent share joint holder at a special meeting held on May 8, 2024. As all of the above approved listing conditions have been met, a total of 55,432,596 new share contract positions were allocated and issued to LHIL Assets on May 9, 2024 to pay management fees for the six months ended 31 December 2023.

The new share contract position used to pay the manager's fees has the same benefits in all aspects as the new share contract position located on the day of allocation and issuance.

The manager's fees paid for the six-month period ending December 31, 2023 for the new share contract are made in accordance with the terms of the hotel management agreement, trademark license agreement and supplementary agreement, and are within the maximum issuance limit for the share contract position.