HUA RUN LAND CO., LTD. ISSUED A SUPPLEMENTAL NOTICE ON 29 JANUARY 2024 DETAILING THE CONNECTED TRANSACTION FOR THE ACQUISITION OF 49% OF THE SHAREHOLDING OF THE TARGET COMPANY BY ITS INDIRECT WHOLLY OWNED SUBSIDIARY. The share transfer agreement for this transaction was initially announced on December 4, 2023. According to an independent valuer's assessment on June 30, 2023, the shareholder equity value of the target company is approximately RMB20.77 billion, which is approximately RMB11.42 million higher than the audited net book value of approximately RMB9.35 billion. The assessment of the value added is mainly due to the increase in the value of investment-grade real estate under the target company, which has a rental rate of 99.79% and a prime location. The announcement was made on behalf of the Board of Directors by Mr. Li Hsin, Chairman of Wah Run.

HUA RUN LAND CO., LTD. ISSUED A SUPPLEMENTAL NOTICE ON 29 JANUARY 2024 DETAILING THE CONNECTED TRANSACTION FOR THE ACQUISITION OF 49% OF THE SHAREHOLDING OF THE TARGET COMPANY BY ITS INDIRECT WHOLLY OWNED SUBSIDIARY. The share transfer agreement for this transaction was initially announced on December 4, 2023. According to an independent valuer's assessment on June 30, 2023, the shareholder equity value of the target company is approximately RMB20.77 billion, which is approximately RMB11.42 million higher than the audited net book value of approximately RMB9.35 billion. The assessment of the value added is mainly due to the increase in the value of investment-grade real estate under the target company, which has a rental rate of 99.79% and a prime location. The announcement was made on behalf of the Board of Directors by Mr. Li Hsin, Chairman of Wah Run.