DELAY IN DESPATCH OF CIRCULARMAJOR TRANSACTIONDEEMED DISPOSAL IN RELATION TO THE PROPOSED SPIN-OFFANDSEPARATE LISTING OF THE CONSUMER INFRASTRUCTURE REITON THE SHENZHEN STOCK EXCHANGE

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.JOY CITY PROPERTY LIMITED大悦城地产有限公司 (Incorporated in Bermuda with limited liability) (Stock Code: 207) DELAY IN DESPATCH OF CIRCULAR MAJOR TRANSACTION DEEMED DISPOSAL IN RELATION TO THE PROPOSED SPIN-OFF AND SEPARATE LISTING OF THE CONSUMER INFRASTRUCTURE REIT ON THE SHENZHEN STOCK EXCHANGE Reference is made to the announcement of Joy City Property Limited (“Company”) dated 24 May 2024 (the “Announcement”) in relation to the major transaction in respect of the deemed disposal in relation to the Proposed Spin-off and separate listing of the Consumer Infrastructure REIT on the Shenzhen Stock Exchange. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless the context requires otherwise.As disclosed in the Announcement a circular (the “Circular”) containing among other things (a) details of the Proposed Spin-off and the transactions contemplated thereunder; (b) the recommendation of the Independent Board Committee to the Shareholders; and (c) a letter from the Independent Financial Adviser to the Independent Board Committee and the Shareholders in relation to the Proposed Spin-off is expected to be despatched to the Shareholders on or before 17 June 2024.As additional time is required for the Company to prepare and finalise certain contents and financial information to be included in the Circular the Company has applied to the Stock Exchange for and has been granted a waiver from strict compliance with Rule 14.41(a) of the Listing Rules for an extension of time for the despatch of the Circular to be on or before 25 June 2024.By Order of the Board Joy City Property Limited CHEN Lang Chairman The PRC 18 June 2024 As at the date of this announcement the Board comprises Mr. CHEN Lang as Chairman and non-executive Director; Mr. YAO Changlin as executive Director; Mr. LIU Yun and Mr. ZHU Laibin as non-executive Directors; and Mr. LAU Hon Chuen Ambrose GBS JP Mr. LAM Kin Ming Lawrence and Mr. CHAN Fan Shing as independent non-executive Directors.