According to an announcement dated 31 October 2025, Kerry Properties Limited (the “Company”) reported that a wholly-owned subsidiary (the “Vendor”) entered into a pre-sale agreement with the Chairman, Chief Executive Officer, and Executive Director of the Company (the “Purchaser”), involving the sale of a residential unit in Jinling Residences in Shanghai. The purchase consideration is RMB116,838,258 (approximately HK$127,704,216), inclusive of value added tax.

Under the agreement, payment must be settled within 10 days after the main structure of Tower 2 of the development is topped out, and the unit is scheduled for delivery before 31 October 2028 (subject to any permissible postponements). The sale price follows a pre-filed price list approved by the relevant government authority. Upon completion, the Company anticipates recording a gain of approximately RMB23 million, after deducting projected land and development costs, marketing expenses, and taxes.

Since the Purchaser is a connected person under Chapter 14A of the Listing Rules, the transaction constitutes a connected transaction. It surpasses 0.1% but remains under 5% of the applicable percentage ratios, requiring announcement and reporting but exempt from circular and shareholders’ approval requirements. The proceeds are earmarked as general working capital, while this sale aligns with the Company’s ordinary course of business.