QUARTERLY UPDATE ANNOUNCEMENT AND CONTINUED SUSPENSION OF TRADING

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.CHINA EVERGRANDE GROUP (IN LIQUIDATION) (Incorporated in the Cayman Islands with limited liability) (Stock Code: 3333) QUARTERLY UPDATE ANNOUNCEMENT AND CONTINUED SUSPENSION OF TRADING This announcement is made by China Evergrande Group (In Liquidation) (the “Company” together with its subsidiaries the "Group") pursuant to Rule 13.24A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the “Listing Rules”).Reference is made to (i) the announcement of the Company dated 29 January 2024 in relation to the winding up of the Company the appointment of the joint and several liquidators of the Company (the " Liquidators") and the suspension of trading in the shares of the Company (the "Shares"); and (ii) the announcement of the Company dated 6 March 2024 in relation to the resumption guidance (the “Resumption Guidance”) for the resumption of trading in the Shares. Unless otherwise defined herein capitalised terms used in this announcement have the same meanings as given to them in the aforesaid announcements.UPDATE ON RESUMPTION PROGRESS The Liquidators wish to update the Shareholders of and potential investors in the Company of the latest status in relation to the Resumption Guidance.Since the appointment of the Liquidators and the suspension of trading in the Shares the Liquidators have focused their efforts on investigating the Company's business and affairs and taking steps to preserve and realise the assets of the Group with a view to returning value to creditors and other stakeholders of the Group.Whilst the Liquidators have made modest realisations of assets of the Company the Company's liquidity and other internal resources remain limited. In view of the Company's level of indebtedness and the challenges faced by the Group's business and operations in the absence of substantial new investment into the Company the Liquidators do not currently see a path to a restructuring that would enable the Company to satisfy the Resumption Guidance and a resumption of trading in the Shares. The Liquidators would welcome any potential investors interested in pursuing a restructuring of the Company or any of its constituent parts to contact them at project_everest@alvarezandmarsal.com.CONTINUED SUSPENSION OF TRADING Trading in the Shares has been suspended with effect from 10:18 a.m. on Monday 29 January 2024 and will remain suspended until further notice. The Company will make further announcements as and when appropriate.For and on behalf of China Evergrande Group (In Liquidation) EDWARD SIMON MIDDLETON WING SZE TIFFANY WONG Joint and Several Liquidators Acting as agents without personal liability Hong Kong 28 May 2024 According to the register of directors of the Company the board of directors of the Company comprises Mr. Hui Ka Yan Mr. Siu Shawn Mr. Shi Junping Mr. Liu Zhen and Mr. Qian Cheng as executive directors Mr. Liang Senlin as non-executive director and Mr. Chau Shing Yim David Mr. He Qi and Ms. Xie Hongxi as independent non-executive directors.