Sustainability Report 2025

ABOUT THIS REPORT Board Statement

The Board of Directors ("Board") recognises and values the importance of the sustainable performance of Ying Li International Real Estate Limited ("Ying Li" or the "Company" and together with its subsidiaries, the "Group") and oversight of all environmental, social and governance ("ESG") matters, including without limitation to this Ying Li Sustainability Report 2025 ("SR" or the "Report"), various ESG policies, stakeholder engagement and climate change. In order to ensure the material impacts of Ying Li are covered, the Board has the responsibility to regularly review, monitor and evaluate material ESG issues.

Reporting Scope

Ying Li publishes sustainability reports on an annual basis and they are included in Ying Li's Annual Reports ("AR").

The Report summarises Ying Li's sustainability performance from 1 January 2025 to 31 December 2025 (the "Reporting Period"). To ensure the completeness and comparability of the Report, it also includes events that occurred prior to the Reporting Period. The Report encompasses the operations and activities in Singapore headquarters and Chongqing offices, as well as investment properties and sales properties1

Reporting Standards and Principles

This Report has been prepared in accordance with the Global Reporting Initiative ("GRI") Standards, the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST") (Rules 711A, 711B and Practice Note 7.6 Sustainability Reporting Guide), and Rule 13.91 and Appendix C2 Environmental, Social and Governance Reporting Guide of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited ("SEHK")2

The GRI is widely recognised as a global standard for sustainability reporting. During the preparation for this SR, we applied the GRl's principles for defining the content and quality of the Report by considering the Group's activities, impacts, key expectations and interests of its stakeholders.

The seven principles listed below have been followed in this Report:

Stakeholder Inclusiveness

We consider the interests of a wide range of stakeholders, mainly shareholders, investors, employees, customers, contractors and suppliers, and regulatory authorities.

Materiality Through a materiality assessment, we identify the environmental, social and governance-related topics that are most important to us and our stakeholders, and these are reliably reflected in this SR. Sustainability Context

Apart from material environmental, social and governance-related factors, we also consider potential contribution to fight climate change.

Completeness We incorporated material topics, topic boundaries, significant impacts and stakeholder feedbacks into this SR while adhering to the six other reporting principles to enhance its completeness. Quantitative We are committed to quantifying the data accurately with clarification as far as practicable. Balance We present the positive and negative aspects of our business in a transparent manner. Consistency We adhere to the same reporting approach as the previous year to ensure clarity and comparability for our readers.

1. Including portions of Ying Li International Financial Centre (IFC)/Ying Li IMIX Park Jiefangbei (IMIX Park JFB), Ying Li International Plaza/Ying Li IMIX Park Daping (IMIX Park Daping), Ying Li International Hardware and Electrical Centre (IEC), San Ya Wan Phase 2 (Lion City Garden). For the avoidance of doubt, all ESG data related to the activities of tenants and sold properties' occupants are not included in the Report.

2. As Ying Li is a subsidiary company of China Everbright Limited (CEL, 0165.HK). this Report also follows SEHK's rules in providing supplementary ESG information to support CEL's ESG disclosure obligations.

Accessibility and Feedback

We warmly welcome your feedback on the Report and our sustainability-related approaches. Please share them with us through email to ir@yingligj.com.

Our AR and SR are accessible through our corporate website: https://www.yingligj.com/ar.

Sustainability Highlights

OUR ENVIRONMENT

164 tonnes

Carbon emissions saved in IMIX Park energy transformation project

ALL company vehicles have been transited to hybrid electric vehicles

22%

Of our properties obtained LEED certification

OUR PEOPLE

53:47

female-to-male ratio is achieved to maintain gender balance

3,116

Total training hours

provided to employees

100%

Employees were subjected to an annual performance appraisal

0

Work-related injury or fatality

OUR CUSTOMERS

100%

Customer satisfaction rate

100%

Complaint handling rate

Ying Li IMIX Park Jiefangbei won the

"Top 30 Outstanding Commercial Real Estate Operations Projects in Southwest China"

OUR COMMUNITY

3,096

Total Volunteering Hours

30

Charitable activities organised

Organised 21 charitable activities under the TAG charity projects to connect social efforts in

launching community projects

OUR SUSTAINABLE GOVERNANCE

A strong governance framework underpins the Group's long-term success and sustainable growth. The Board provides strategic oversight of the Group's business direction and operations, ensuring strict adherence to all applicable laws, regulations, and recognised codes and standards.

Governance Structure

The Board of Ying Li serves as the highest governance body of the Group. The Board is responsible for setting the Group's strategic objectives and is committed to protecting shareholder value while embedding sustainability into its strategic decision-making. To support the Board in fulfilling its duties, four specialised committees have been established: the Remuneration Committee, the Audit Committee, the Nominating Committee, and the Risk Management Committee. For more information on the Group's corporate governance framework, please refer to the "Corporate Governance Report" in the 2025 Annual Report.

Sustainability Governance Structure

The Group's sustainability commitment begins at the highest level, supported by a robust governance framework that clearly defines accountabilities, roles, and responsibilities, enabling effective communication and consistent execution of sustainability strategies across all departments.

As the Group's highest governance body, the Board leads and supervises the development and implementation of sustainability strategies to ensure they align with the long-term interests of the Company and its stakeholders. Guided by the Board, the Management Decision Committee (管理决策委员会) and the ESG Working Group play pivotal roles in advancing Ying Li's sustainability initiatives and commitments.

To bolster effective sustainable management, relevant sustainability-related criteria and key performance indicators have been included in the performance appraisal of the senior management, which is directly linked to the remuneration assessment.

Sustainability Governance Structure of Ying Li Board of Directors

• Formulate and develop the Group's ESG strategies and policies

• Oversee the materiality assessment process and approve the result

• Oversee and approve the Sustainability Report

Management Decision Committee

• Incorporate ESG factors in the decision-making process

• Review the sustainability initiatives and identify the areas for improvement

• Report to the Board on significant sustainable issues and decisions

• Monitor the implementation of sustainable development measures

• Responsible for the preparation of the Sustainability Report

ESG Working Group Functional Departments

• Execute and implement the sustainability initiatives set by the Group

• Report material ESG issues identified during daily operations

• Cooperate in promoting the Group's ESG commitment to stakeholders

Sustainability Strategy

Sustainability lies at the heart of Ying Li's operations and will remain a fundamental aspect of the Group's decision-making processes. Our sustainability strategy aims to steer our business ethically, socially, and environmentally, and to create shared value for our stakeholders. We are committed to the following focused areas to achieve our sustainability vision and enhance our sustainable performance.

Green Development

We strive to promote low-carbon and green business operation, focusing on energy transformation and the implementation of energy-efficient designs to reduce our carbon footprint.

Environmental Sustainability

We prioritise sustainability by adopting measures related to energy use, water use, waste management, and climate change, minimising environmental impacts of our business operations and development.

Operational Safety

We place strong emphasis on the health and safety of our employees and contractors, implementing stringent safety measures and protocols and ensuring regular monitoring.

Employee Motivation

We value the well-being and growth of our employees, creating a safe, inclusive, and harmonious working environment that provides opportunities for talent development and skill enhancement.

The Group also adheres to a set of sustainability-related policies and guidelines, which serve as the foundation in standardising and regulating our practices:

OUR MATERIALITY APPROACH Stakeholder Engagement

Ying Li fully recognises that stakeholder feedback is instrumental to both our business development and sustainability performance. To foster ongoing dialogue and deepen our understanding of stakeholder expectations, we have established diverse engagement channels. These mechanisms also enable us to assess the relevance and effectiveness of our sustainability priorities and initiatives.

The table below shows how our approach and rationale is set out against different stakeholders and the feedback we have received from them.

Materiality Assessment

The Group acknowledges and values stakeholder perspectives on its ESG performance. To ensure its sustainability strategy is both relevant and impactful, the Group has engaged an independent third-party consultant to identify material sustainability issues based on their importance and relevance to the business. This was followed by a stakeholder survey gathering feedback from employees, contractors, suppliers, customers, regulators, shareholders, and investors to validate and refine these priorities.

The materiality assessment process is summarised as below:

Identify

Rate

Prioritise

Validate

Identifying material ESG Issues Rating the significance Prioritising material issues Validating the result

21 material issues have been identified by reference to the GRI Standards,

international trends and peer benchmarking, reflecting the dynamic operating environment of the Group.

The actual and potential impacts from the identified ESG issues are determined through an online questionnaire, covering internal and external stakeholders to gather their insights into the significance of ESG issues and their associated impacts.

A materiality matrix is developed based on two key dimensions: "importance to stakeholders" and "relevance to the Group" to provide a comprehensive overview of the prioritisation of material issues.

The result of the materiality assessment is then reviewed and approved by the Board, which serve as a crucial reference for the disclosures in the Report and long-

term sustainability strategy development.

HIGH

2025 Ying Li ESG Factors Materiality Matrix

18

20

15

21

14

16

10

9

13

17

2

5

3

4

19

6

8 12

11

1

37

Importance to Stakeholders

LOW HIGH

Relevance to Ying Li Environmental Corporate Governance Employee Supply Chain Operational

MATERIALITY NO. ESG FACTORS TOPICS Sustainability Targets

With reference to the identified ESG issues, we have set up corresponding short-term and long-term sustainability goals as below. Relevant ESG performance data are available in Appendix A: Sustainability Scorecard.

MATERIAL FACTORS SHORT-TERM TARGET LONG-TERM TARGET VALUE CREATED Climate-Related Risk and Opportunities

To strengthen climate risk identification and disclosures in accordance with Task Force on Climate-related Financial Disclosures ("TCFD").

To reduce operational emissions and build climate-resilient portfolio.

• Performed client risk identification and formulated mitigation strategies, while transited all company vehicles into hybrid electric vehicles.

  Energy-Saving Design and Green Construction

  To introduce energy-saving intelligent transformation project.

  To prioritise energy-saving designs in our projects.

• Maximised energy-saving starting from the design stage by seeking Leadership in Energy and Environment Design ("LEED") certification for our portfolio as far as practicable.

  Energy Efficiency To introduce energy-saving intelligent transformation project.

  To adopt energy-saving installations and enforce energy-saving policies within the offices, malls and development projects.

• Installed intelligent energy-saving control system to reduce energy consumption.

  Managing Our Carbon Footprint

  To reduce carbon emissions from our own operations by energy efficiency upgrade and sustainable building design.

  To establish long-term carbon reduction roadmap and lower the carbon emissions from tenants' activities.

• Ying Li IMIX Park Daping has launched its "Central Air-Conditioning Energy-saving Transformation" project, significantly reducing the carbon emissions.

  Water Conservation To reduce water consumption

  within office areas and managed properties.

  To adopt water-saving installations and enforce water-saving policies within the offices, malls and development projects.

• Installed water-efficient fittings and water meters and raised awareness among stakeholders to conserve water.

  Waste Management To reduce waste generation and improve waste diversion. • Adhere to the local regulations

  on waste segregation, collection and disposal.

  • Promote reduce, reuse and recycle in offices and managed properties

    Compliance Employment To avoid violations of employment-related laws and

    regulations.

• No confirmed cases of noncompliance in relation to labour standards during the Reporting Period.

  MATERIAL FACTORS SHORT-TERM TARGET LONG-TERM TARGET VALUE CREATED Employee Remuneration and Benefits

  To ensure 100% of employees have undergone performance review.

  To improve employee retention rate and conduct performance appraisals annually.

• Established robust mechanisms to review employee benefits.

• 100% of employees were subjected to performance appraisal during the Reporting Period.

  Occupational Safety and Health

  To avoid work-related employee injuries and fatalities. • Established a comprehensive

  safety production mechanism to ensure the highest safety standard is applied.

  • Zero work-related employee injuries and fatalities during the Reporting Period.

    Skills Competency and Employee Training

    To ensure 100% of employees received training courses in raising their skills competency.

    To provide a wide range of training types to enhance employee competency.

• Procedures in place for setting up internal training and subsidies available for external training.

  Employee Diversity and Inclusion

  To deliver inclusive training to all employees.

  To cultivate a workplace where diverse talent is equitably represented at all levels.

• Established strict anti-discrimination guidelines on Employee Handbook and maintain a fair gender balance.

  Green Leasing To promote sustainability practices in tenants.

  To establish formal tenant engagement to collaboratively enhance ESG performance.

• Raise awareness of tenants by promoting sustainability and the Group's environmental initiatives.

  Product and Service Quality To ensure zero violations of construction-related laws and

  regulations.

• Employed project management system from pre-construction to post-construction to ensure high standards of construction.

• Zero violations of construction-related laws and regulations during the Reporting Period.

  Marketing and Promotion To ensure zero violations of marketing laws and regulations. • Established the Compendium

  of Asset Sales Management Systems (资产销售管理 制度汇编) for responsible marketing.

  • Zero violations of marketing laws and regulations during the Reporting Period.

    Customer Privacy Protection To maintain zero information security incidents. • Implemented stringent guidelines

    to standardise the management of confidentiality for the Group's materials and information.

  • Zero information security incidents during the Reporting Period.

    MATERIAL FACTORS SHORT-TERM TARGET LONG-TERM TARGET VALUE CREATED Community Engagement and Social Welfare

    To expand local charity partnerships and establish enduring, co-created community programmes that drive measurable social impact.

• "TAG Charity Programme" has been launched to foster collective efforts in promoting community welfare.

  Responsible Supply Chain To promote and monitor

  sustainable practices of suppliers.

  To prioritise environmentally and socially responsible suppliers.

• Established strict guidelines as part of our supplier management to ensure the quality of their products and services.

  Managing Contractors To ensure contractors strictly

  follow the Engineering Management Policy and related laws and regulations.

  To ensure environmentally and socially responsible actions are taken by contractors.

• Established strict guidelines as part of our contractor management to ensure the quality of their products and services.

  Business Ethics and Anti-Corruption

  To maintain zero corruption cases and no violations of business compliance.

• Implemented clear guidelines for a robust internal control system and for the employees to understand the importance of business integrity.

  Corporate Governance and Risk Management

  To ensure strong adherence to corporate governance and risk management practices.

• Set up and regularly reviewed the "three lines of defence" mechanism for risk management.

MEMBERSHIP ASSOCIATIONS AND RECOGNITION

Ying Li continues to participate in professional organisations to keep abreast of the latest laws and regulations, industry trends and the best practices in its operations. The table below lists the Group's memberships and participation in the industry and professional bodies.

INSTITUTION CLASS OF MEMBERSHIP

Singapore Business Federation Corporate Member

Enterprise Institute for Internal Controls and Anti-Fraud Alliance

(企业内控协会暨反舞弊联盟)

Chongqing Jiefangbei Central Business District Enterprise Association

(重庆市解放碑中央商务区企业协会)

Corporate Member Vice President

During the Reporting Period, the Group has also obtained the below awards and recognitions:

AWARDS AWARDING ENTITY

Top 30 Outstanding Commercial Real Estate Operations Projects in Southwest China（中国西南商业地产优秀运营 项目TOP30）

"Pioneer Unit" in Garbage Sorting for Commercial Sector - Yuzhong District

(渝中区商贸业生活垃圾分类"先进单位")

"Best Practice Unit" in Safe Community Development - 2025

(2025年度平安建设"最佳实践单位")

Ying Li IMIX Park Jiefangbei (IMIX Park JFB) Chongqing Yingli Retail Management Co., Ltd.

Chongqing Yingli Retail Management Co., Ltd.

OUR RESPONSIBLE BUSINESS PRACTICE Business Ethics and Integrity

The Group maintains an unwavering commitment to integrity, ethical conduct, and compliance across all aspects of its business operations. We continuously strengthen our compliance framework and corporate governance to promote transparency, accountability, and long-term value for our shareholders.

The Group has established a robust Accountability System for Violations (违规问责办 法) and embedded a clear Code of Conduct (行为标准) in the Employee Handbook. Together, these provide structured guidelines for identifying, investigating, reviewing, and addressing any breaches of internal policies or national regulations. All employees are expected to understand and uphold these standards; violations may result in disciplinary action, up to and including termination in serious cases. Notably, no compliance violations were reported during the Reporting Period.

To ensure systematic oversight, the Group has implemented a comprehensive, end-to-end review mechanism covering both internal operations and the supply chain. All reviews are conducted in strict alignment with national laws, industry standards, and internal policies, with a risk-based focus on business integrity and anti-corruption. The Group employs a dynamic audit approach, integrating routine annual assessments of high-risk areas into the internal control and audit plan, alongside special audits conducted in response to significant whistleblowing reports, regulatory changes, or strategic transitions. Through this closed-loop system, the Group ensures continuous compliance with evolving legal and regulatory requirements.

Risk Management

The Group adheres to the Company Law of the People's Republic of China (the "PRC"), the Listing Manual of the SGX-ST, and other applicable laws and regulations. A robust risk management framework has been implemented, with the Board being the ultimate governance body. The Board is delegated to oversee and review the Group's risk management initiatives and strategies, safeguarding the interests of stakeholders and shareholders. The Group implements a "decision-making - supervision - execution" risk management mechanism, which clearly delineates roles and responsibilities to ensure accountability, transparency, and effective risk oversight.

BOARD OF DIRECTORS

DECISION-MAKING

LEVEL

The Risk Management Committee supports the Board by overseeing and advising on current risk exposures, risk tolerance, and overall risk strategy, while regularly reviewing and monitoring the effectiveness of the Group's internal control and risk management systems.

SUPERVISION

LEVEL

A dedicated working group, comprising Compliance, Risk Control, and Legal Department, guides and monitors the implementation of risk management measures in frontline business units and supports functional departments in assessing high-risk decisions.

EXECUTION

LEVEL

Functional departments and business units are responsible for implementing the Group's risk management measures and reporting on any identified or potential risks in daily business operations.

Anti-Corruption

The Group strictly complies with the Anti-Unfair Competition Law of the PRC, the Prevention of Corruption Act of Singapore and other applicable policies and regulations in opposing and preventing all forms of corruption, bribery, extortion, fraud, and money laundering. The Group has established the Integrity Risk Prevention and Control Manual for Key Positions in Focus Area (重点领域关 键岗位廉洁风险防控手册) to articulate the business compliance requirements and guidance in preventing corruption in key areas, such as investment affairs, asset operation, project tendering process and financial management. Upholding a culture of zero tolerance towards fraud and corruption, the Group remains steadfast in maintaining the highest standards of ethics, professionalism, and integrity across all levels of its operations.

The Group is committed to promoting the anti-corruption awareness among our senior management and employees through training courses. During the Reporting Period, the Group conducted a total of 9 training sessions related to integrity and anti-corruption to foster a collective commitment, such as the Integrity Education Training.

To further develop the anti-corruption culture, we have adopted the below measures:

DEDICATED WHISTLEBLOWING CHANNEL

A dedicated whistleblowing channel, the "Ying Li CEO Mailbox", is established to receive complaints regarding violations of discipline or regulations by

management and other employees.

An employee whistleblowing mechanism is also in place.

SUPPLIER COLLABORATION

Anti-bribery and anti-corruption clauses have been added to supplier contracts, along with clearly defined channels for complaints and reporting.

DAILY SUPERVISION

The policy implementation and enforcement have been strengthened through daily supervision by functional departments, disciplinary inspections by the Chinese Communist Party (the "Party")

branches, internal audits, and legal

and compliance functions.

Whistleblowing Policy

To maintain the high standard of ethical conduct and enforce a zero-tolerance approach for fraudulent activities, the Group has formulated the Whistleblowing Policy (举报制度) in accordance with the Code of Corporate Governance. All reports received are thoroughly investigated and treated with utmost confidentiality by the Group's Audit Committee. The Group protects whistleblowers from any detrimental or unfair treatment, emphasising that employees who report concerns in good faith will be shielded from possible retaliation. Upon the investigation, the Audit Committee will determine appropriate actions to be taken and may recommend disciplinary or remedial measures as necessary. By ensuring transparency, confidentiality, and protection for whistleblowers, the Group upholds its commitment to fostering a culture of ethical behaviour.

YING LI REPORTING

CHANNELS: Reporting Email

ceo@yingligj.com

Mailing Address

Room 08, Level 35, Ying Li International Financial Centre, No. 28 Minquan Road, Yuzhong

District, Chongqing 400010, China

During the Reporting Period, there were no confirmed cases of non-compliance in relation to corruption and anti-competitive practices that would have a significant impact on the Group, and no legal proceedings related to corruption were initiated or concluded against the Group or its employees.

Protection of Intellectual Property Rights

The intellectual property rights ("IPR") of Ying Li is fundamental to our business. We are committed to safeguarding our IPR, such as trademarks, copyrights, designs and patents, through appropriate registration procedures and ensuring compliance with relevant laws and regulations, including the Patent Law of the PRC, the Copyright Law of the PRC, the Trademark Law of the PRC and other laws and regulations. We have developed stringent rules that govern the protection of our IPR, while explicitly prohibiting any form of infringement on third-party intellectual property. Necessary actions will be taken in case of any identified potential infringement. By upholding our commitment to IPR protection, we aim to foster an environment that encourages innovation and creativity.

OUR ENVIRONMENT

Ying Li has established a strong reputation for innovative designs with green and eco-friendly development. We are fully committed to complying with local environmental regulations and addressing climate change by minimising our environmental footprint, particularly through reducing carbon emissions across our daily operations. Our key focus areas include energy efficiency, as well as the responsible and effective management of resources and waste. In response to global calls for climate action, the Group has engaged an external consultant to identify climate-related risks and opportunities, and to enhance our strategies for climate mitigation, adaptation, and resilience.

Law Compliance

To systematically govern and advance our environmental practices and regulatory compliance, the Group has developed the Energy Management Policy (能源管理制度), Design Management Policy (设计管理制度), Construction Application Management Policy (开发报建管理制度) and Engineering Management Policy (工程管理制度), embedding sustainability principles across the entire property development lifecycle and ongoing operations.

Ying Li places strong emphasis on compliance with key environmental laws and regulations, including but not limited to:

• Environmental Protection Law of the PRC;

• Law of the PRC on Environmental Impact Assessment;

• Water Pollution Prevention and Control Law of the PRC;

• Marine Environment Protection Law of the PRC;

• Law of the PRC on the Prevention and Control of Environmental Pollution by Solid Waste;

• Law of the PRC on Prevention and Control of Environmental Noise Pollution; and

• Atmospheric Pollution Prevention and Control Law of the PRC

During the Reporting Period, there were no confirmed cases of non-compliance in relation to environmental protection that would have a significant impact on the Group.

Response to Climate Change

Ying Li recognises climate change as a critical global challenge with far-reaching implications for the real estate sector. In line with our commitment to sustainable development and transparent disclosure, the Group has aligned its climate-related governance, strategy, risk management, and metrics with the recommendations of the TCFD. This structured approach enables us to systematically identify, assess, and respond to climate-related risks and opportunities, ensuring long-term resilience and value creation for our stakeholders.

Governance

Ying Li integrates climate-related considerations into its highest levels of corporate governance. The Board, as the ultimate oversight body, provides strategic direction and supervision on climate-related risks and opportunities, ensuring alignment with the Group's long-term sustainability objectives and stakeholder interests.

Management of climate risk is delegated to the ESG Working Group, which plays a central role in identifying, assessing, and addressing climate-related issues across the Group. The ESG Working Group serves as a vital link between high-level strategic direction and operational implementation. By maintaining close collaboration with various departments and business units, the ESG Working Group ensures that climate considerations are integrated into the Group's operations.

01

BOARD OF

DIRECTORS

Overseeing the overall strategic risk management while integrating climate-related factors into business decision. 02 ESG WORKING GROUP Performing climate risk identification, assessment and management, and formulating climate strategies and policies. 03 BUSINESS UNITS Executing the formulated strategies and maintaining close communication with stakeholders, while reporting ESG-related matters observed in daily operations.

The Group will continue to refine our ESG management mechanisms, developing agile business plans with climate considerations to stay abreast of the increasingly environmentally conscious business landscape.

BOARD ESG TRAINING

To enhance expertise in sustainability matters, the Board actively participated in various external professional training programmes, including ESG-focused sessions on Responsible Investment and ESG Data Management, as well as a specialised ESG course organised by the Singapore Institute of Directors in response to updated listing requirements from the Singapore Exchange. Through engaging in sustainability-specialised training, the Board has strengthened its capacity to oversee ESG performance and integrate material ESG factors into strategic decision-making, laying a solid foundation for its stewardship of sustainable development.

100%

of the Board has

attended sustainability-related trainings

Strategy

Our climate strategy centres on reducing greenhouse gas emissions across our operations-particularly through energy efficiency upgrades, increased adoption of renewable energy, and sustainable building design. Understanding the importance of maintaining resilience in the face of climate-related risks, we adopt the following approach:

01 STAKEHOLDER ENGAGEMENT

01

02

03

The Group actively engages with our employees, suppliers and tenants to launch green initiatives focused on energy efficiency, emissions reduction, water conservation, and waste management.

02 CLIMATE CHANGE ADAPTATION

We actively identify potential impacts of climate change on our portfolio; understand any climate risks imposed and recognise opportunities presented by new technologies and sustainable practices.

03

OPTIMISE ENERGY MIX

We actively seek green electricity procurement to increase the share of renewable energy in our energy mix, effectively reducing indirect carbon emissions associated with grid-supplied electricity.

The Group will continue to explore the integration of different climate-related scenarios in assessing the climate impact and formulating our climate-related risk strategies.

Risk Management

We have conducted a climate change risk assessment with reference to the TCFD recommendations by analysing the potential impacts on different business sectors and developing solutions to mitigate and adapt to climate change. Below is a summary of the prioritised climate-related risks and potential impacts:

Metrics and Targets

Ying Li tracks and reports on our water withdrawal, waste generation, energy consumption, Scope 1, 2 and 3 greenhouse gas ("GHG") emissions and their respective intensities at our Singapore and Chongqing offices as well as investment properties and sales properties that are under the Group's direct operational control. For further information on our performance in managing our carbon footprint and other environmental indicators, please refer Appendix A: Sustainability Scorecard. Regarding the Group's dedicated targets on carbon reduction, please refer Sustainability Targets section.

Moving forward in our sustainability journey, the Group will continue to explore more detailed procedures to ensure alignment with both the TCFD recommendations and SGX-ST's phased approach guidelines.

GHG Emissions

The Group takes a proactive measure in contributing to PRC government's goals of achieving carbon neutrality by 2060 and the Singapore Green Plan 2030. We have developed a comprehensive set of action plans that aim to promote green and low-carbon transformation while enhancing energy efficiency.

Recognising that GHG emissions are a primary driver of climate change, and a significant portion of our emissions arises from purchased electricity used in our managed properties. To address this, we integrate innovative design features, deploy energy-efficient technologies, and implement smart building management systems to optimise energy use and minimise emissions.

In line with our low-carbon strategy, the Group has completely transited its official vehicles to plug-in hybrid electric vehicles, prioritising pure electric mode for daily commuting and significantly reducing fuel consumption. By 2025, the vehicles achieved zero carbon emissions during operation, marking a concrete step forward in decarbonising our corporate transportation activities and providing solid support towards our carbon reduction targets.

66 TONNES

standard coal

164 TONNES

carbon dioxide emission

IMIX PARK DAPING ENERGY TRANSFORMATION PROJECT

To enhance the energy efficiency, Ying Li IMIX Park Daping continued to advance its "Central Air-Conditioning Energy-saving Transformation" project in 2025. The introduction of the SmartEco intelligent energy control system has yielded significant results, saving approximately 65.66 tonnes of standard coal in electricity consumption, equivalent to reducing carbon dioxide emissions by approximately 163.66 tonnes. The project has resulted in energy cost savings of approximately RMB123,800 in 2025. Using this project as a benchmark, we are now scaling these successful practices across its broader portfolio of asset management initiatives, continuously contributing to the transition towards a low-carbon economy.

Besides, IMIX Park Daping is actively planning to purchase green power in 2026, increasing its share of renewable energy and effectively reducing indirect carbon emissions associated with grid-supplied electricity, optimising electricity costs while supporting the overall energy conservation and emission reduction targets.

The Group remains committed to exploring energy-saving opportunities by leveraging cutting-edge technology, capitalising the huge development potential of the "carbon neutral" business, and realising the strategic transformation towards becoming a green and low-carbon company.

Energy Usage

Recognising that energy consumption is a major source of the Group's GHG emissions, we strive to enhance energy management by implementing energy-saving measures and promoting sustainable practices among employees and tenants. To regulate energy use, properties under the Group's management adhere to the established Energy Management Policy (能源管理制度), ensuring efficient energy use based on operational needs.

Ying Li has adopted energy-saving measures in different operations to improve the energy efficiency:

Flexible Energy Use

IMIX Park JFB and IMIX Park Daping have developed the Power Restriction Plan in Summer (夏天限 电计划方案) and Air-conditioning Energy Efficiency Plan in Winter (冬季空调节能计划), striving to minimise energy loss and optimise energy management.

Energy Efficient Design

We have integrated energy-efficient features into our building design, including proper insulation, ventilation with exhaust heat recycling, and recycled water systems for air conditioning to maximise heating, ventilation, and cooling efficiency. Smart lighting and LED luminaires are also installed to reduce unnecessary lighting.

Employee

Education

Power-conserving signs are placed in prominent office spaces and public areas to encourage staff to save electricity. Our internal policy mandates lights and equipment to be turned off when not in use, and adopt energy-efficient appliances to replace low-efficiency, high-energy devices.

Tenant

Education

We regularly update tenants on energy-saving tips through various channels, explaining the property's energy-efficient features and measures and offer technical advice on reducing consumption when needed.

Water Resources

Ying Li recognises the critical importance of water stewardship in sustainable operations. We are committed to the efficient use, conservation, and responsible management of water resources across our portfolio. We perform regular inspections of our drainage systems to ensure the effective functioning of drainage and sedimentation facilities, preventing soil erosion, sewage, and waste water from directly contaminating nearby rivers or water bodies.

At our managed properties and offices, water-efficient fittings and water meters have been installed to allow regular monitoring and ensure that all usage is tracked and reported. In case of any unusual variation or incidents, we ensure that the equipment can be fixed immediately to avoid unnecessary water consumption. Besides, water-conservation guidelines and slogans are posted in common areas to increase the awareness among employees, tenants, customers, and communities.

Waste Management

The Group strictly complies with the Law of the People's Republic of China on the Prevention and Control of Environmental Pollution by Solid Waste and other applicable environmental regulations. We are committed to minimising waste generation and maximising diversion from landfills through a comprehensive and responsible approach to waste management. All non-hazardous operational waste is segregated at source and collected by category. We work exclusively with qualified, licensed partners to ensure compliant, environmentally sound collection, recycling, or disposal of all waste streams.

Paper waste constitutes the largest portion of office waste in our operations. We extend the mindset of responsible procurement throughout our operations. For instance, all the office paper purchased is certified by the Forest Stewardship Council. We also encourage our staff to consider environmentally friendly options when purchasing other office supplies. Besides, our offices have introduced the use of online servers where all office documents and information can be accessed via laptops and electronic devices. However, where printing is required, our offices have put up posters to encourage our staff to use black and white printing, double-sided printing and recycled paper for internal documents printing wherever possible.

TREE PLANTING ACTIVITY

The Party Branch of Ying Li has partnered with the Party Branch of Hutou Village in Beibei District to jointly carry out tree-planting and ecological-restoration activities, while also engaging in dialogue to explore approaches to rural governance. As part of this initiative, 50 trees were planted, demonstrating our commitment to environmental stewardship and support for rural communities.

OUR PEOPLE Compliance Employment

The Group understands the immense value and dedication of our employees, recognising that their talents and commitment are crucial to the success and growth of the business. Ying Li is firmly committed to upholding the highest standards of employment practices, strictly adhering to the Labour Law of the PRC, the Labour Contract Law of the PRC, and the Employment Act of Singapore, ensuring that our employees receive appropriate employment protection and benefits. We have formulated and continuously enhanced the Employee Handbook, outlining our commitment to being a responsible employer, guaranteeing a fair, inclusive, safe, and productive work environment.

Employment relationships are formalised through legally compliant contracts, and employees receive clear information on their rights and responsibilities via the Employee Handbook. Working hours, rest periods, and social insurance contributions are managed in full accordance with statutory requirements. Equal opportunity, dignity, and respect are foundational to our workplace culture, and we prohibit all forms of forced labour, child labour, discrimination, harassment, and unfair treatment.

During the Reporting Period, there were no confirmed cases of non-compliance in relation to labour standards that would have a significant impact on the Group.

As of 31 December 2025, the Group had a total of 102 employees, with a breakdown by gender, age, position and region as follows:

3%

8%

BY AGE

Under 31 years old 31 - 50 years old Over 50 years old

89%

47%

53%

BY GENDER

Male Female

3%

BY REGION

Singapore China

97%

42%

10%

BY POSITION

Senior-level management Middle-level management General staff

48%

Talent Recruitment and Retention

The Group places strong emphasis on attracting and retaining high-calibre talent through fair, transparent, and merit-based practices, and actively bolstering our talent pool through diverse recruitment channels, including social media, online job platforms, and campus recruitment. To ensure a standardised and fair recruitment process, we have implemented and refined the Recruitment Management Policy (招聘管理制度), ensuring our talent acquisition strategy is based on principles of fairness and transparency.

The Group is dedicated to implementing a fair promotion system, as detailed in the Employee Handbook, to recognise outstanding talent. A systematic and comprehensive evaluation process is employed whereby department heads and direct supervisors are tasked with assessing employee performance, providing feedback, and establishing goals. Career progression, compensation adjustments, and promotions are all linked to performance evaluation outcomes. We believe that a fair evaluation framework fosters excellence, retains valuable talent, and motivates continuous improvement, contributing to both organisational and individual growth.

Employee Communication

Ying Li fosters a culture of open, transparent, and two-way communication to strengthen trust, engagement, and collaboration. We have established multiple formal and informal channels to ensure employees' voices are heard, valued, and acted upon, and a zero-tolerance policy towards retaliation is in place, ensuring employees feel safe to speak up without fear of adverse consequences. Key communication mechanisms include:

LABOUR UNION

Labour union is established to serve as a vital communication channel between the Group and employees, fostering open dialogue, addressing concerns, and safeguarding employees' legitimate rights and interests.

FORMAL FEEDBACK CHANNELS

The Employee Handbook clearly outlines procedures for employees to provide feedback, raise concerns, or file formal grievances.

DIRECT LEADERSHIP ACCESS

The "CEO Mailbox" provides a confidential and direct channel for employees to submit suggestions, concerns, or ideas to senior leadership, promoting transparency and responsiveness from the top.

PROACTIVE EMPLOYEE CARE

Human Resources Department will actively check-in with new hires to understand their onboarding experience, work adaptation, and well-being through timely one-on-one conversations.

LEADERSHIP ENGAGEMENT

We formalise regular face-to-face interactions between senior executives and frontline employees to encourage two-way communication and mutual understanding.

Diversity and Inclusion

At Ying Li, we strongly believe in fostering a diverse and inclusive work environment that enables individuals from various backgrounds to collaborate effectively and thrive. We maintain a strict zero-tolerance policy towards any form of discrimination or harassment, including but not limited to factors such as age, race, marital and family status, religion, and disability. We are pleased to report that during the Reporting Period, we have achieved a balanced gender representation within our workforce, with a female-to-male ratio of 53:47.

We will not tolerate any scale or type of harassment and discrimination in our work environment. Regular training on anti-discrimination and harassment is provided for all employees. Besides, we have set up a formal grievance channel to allow employees to express their opinions and raise complaints or issues related to harassment, discrimination or vilification without worrying about retribution.

If any risks of non-compliance are identified, immediate actions will be taken to investigate and address issues with clear procedures, if needed, internal disciplinary actions or referral to relevant authorities will take place.

Employee Training and Development

Talent has been a significant pillar underpinning our success and propelling our sustainable development. The Group firmly believes that providing equal training opportunities to all employees will not only enhance their performance but also prepare them for future challenges and opportunities by equipping them with new skills. We have implemented the Employee Training Management Policy (公司培训管理制度), systematically reviewing and planning the training framework.

Ying Li places strong emphasis on leadership development and building a robust talent pipeline to support long-term organisational resilience. A tiered, multi-dimensional training framework tailored to employees at all levels:

• New hires receive structured onboarding programmes to accelerate integration;
• Mid-level managers participate in operational management excellence training;
• Senior executives engage in specialised leadership development initiatives;
• All employees take part in mandatory sessions on corporate culture, ethics, and compliance.

These programmes are delivered through a blended approach combining internal mentorship with external online courses. Continuous improvement is ensured through regular training effectiveness evaluations and periodic talent reviews, promoting the continuous development of our employees.

During the Reporting Period, the Group delivered a total of:

1

legal compliance

training session

13

professional skill-

building workshops

3

occupational

safety trainings

4

rounds of onsite

job-shadowing programmes

In alignment with our business development strategy, Ying Li has identified the following key training focus areas. To maximise learning impact, we employ a hybrid learning model that seamlessly integrates online and offline formats. This systematic, outcome-driven approach not only enhances individual career development but also strengthens organisational capability, providing a solid

foundation for sustainable business success.

01

ASSET & COMMERCIAL

MANAGEMENT

Practical skills in asset value enhancement, leasing, and operations.

02

CROSS-FUNCTIONAL

COLLABORATION

Practical skills on improving crossdepartment communication and process

alignment.

03 TALENT PIPELINE DEVELOPMENT

Clear criteria for talent pool inclusion, followed by targeted and advancement training.

04 INTEGRITY & COMPLIANCE REINFORCEMENT

Role-specific risk awareness trainings using real-world examples of ethical breaches.

In 2025, 102 employees have completed an average of 31 hours of training.

Individuals Trained

102

Total Training Hours

3,116

Average Training Hours

31

Average Training Hours by Position Average Training Hours by Gender Male

Female

25.64

28.59 36.08

27.21

55.35

Occupational Health and Safety

At Ying Li, health and safety of our staff is of paramount importance to our business operations. We maintain strict compliance with all relevant laws and regulations, including the Work Safety Law of the PRC and the Workplace Safety and Health Act of Singapore, ensuring a secure, stable, and safe working environment for all employees and contractors. To institutionalise this commitment, we have implemented a comprehensive Safety and Equipment Management Policy (公司安全生产管理制度) alongside Emergency Response System for Incidents (突发事件应急处理制度), forming a multi-tiered, dynamic mechanism that proactively identifies, assesses, and mitigates workplace hazards, enabling timely intervention and continuous improvement in safety performance. There were no major incidents or confirmed incidents of non-compliance with relevant laws or regulations in our operations during the Reporting Period.

Key components of our safety measures include:

02

01

Regular Inspections

Monthly and quarterly inspections are conducted to systematically identify potential hazards across all work areas, evaluate associated risk levels, and verify the effectiveness of existing control measures.

Specialised Inspections

Specialised inspections are organised in the event of material changes, such as equipment upgrades, operational modifications, or heightened societal risks, so as to conduct targeted risk assessments and implement timely safeguards.

03

Emergency Response System

A formal Emergency Response System is in place, which clearly defines response protocols, roles, and mitigation measures for major risks, ensuring rapid and effective control during emergencies.

The Group is committed to the highest safety standards in construction and renovation projects, aiming to eliminate fatalities and serious injuries. To extend our commitment towards contractors, we provide mandatory safety training and enforce strict safety management through our Engineering Management Policy (工程管理制度), outlining clear health and safety requirements. Designated teams will conduct regular monitoring and reporting to proactively address potential risks and prevent accidents regarding the construction work, including renovations and alterations.

To strengthen safety preparedness, the Group has delivered seasonal fire safety training during summer and winter to all employees, as well as organised relevant safety personnel to participate in hands-on emergency simulation training at the Chongqing Science and Technology Museum, covering fire, earthquake, and other natural disaster scenarios.

WINTER FIRE SAFETY TRAINING

On 6 November 2025, during the national Fire Safety Awareness Month, Ying Li invited certified fire safety instructors to deliver a comprehensive fire safety training session for all employees. The training focused on common fire and electrical hazards in daily life and the workplace. Through a combination of real-life case studies, vivid incident analyses, and hands-on demonstrations, participants learned to identify risks, avoid dangerous practices, and apply practical fire prevention and emergency response techniques, significantly enhancing their ability to spot hazards, mitigate risks, and respond effectively in emergencies.

Employee Benefits and Wellness

The Group values employee welfare and well-being to create a positive and productive working environment. The Group has established a robust compensation and benefit mechanism to motivate employees while also recognising employee contributions. We regularly review and enhance our Company Compensation and Benefit Management Policy (公司薪酬福利管理 制度) to ensure its effectiveness and to stay competitive with market standards.

Ying Li places great emphasis on meeting the needs of our female employees and fully complies with the relevant laws and regulations, such as the Special Rules on the Labour Protection of Female Employees. In accordance with the law, we offer maternity leave, maternity allowances, breastfeeding arrangements and various other benefits that enable them to achieve a better work-life balance while fulfilling their family responsibilities.

In addition, the Group is committed to creating an inclusive, open-minded, and compassionate workplace that supports our employees in times of need. We make continual efforts to enhance their well-being by fostering team unity through various activities, such as periodic employee gatherings during major festivals and birthday celebrations. We strive to promote work-life balance and improve both our employees' physical and mental health.

OUR SUPPLY CHAIN Supply Chain Management

Ying Li recognises that a responsible and resilient supply chain is integral to sustainable business success. To uphold high standards of integrity, transparency, and sustainability, we have established clear expectations for all partners through our Supplier Management Policy (供方管理制度) and Bidding and Procurement Management Policy (公司招标采购管理 制度). To actively prevent anti-competitive and monopolistic practices, all procurement processes should prioritise open tendering to broaden the supplier pool. During bid evaluation, special attention is given to detecting and rigorously addressing collusive behaviours such as bid rigging and collusion. Any confirmed cases are immediately invalidated, and legal accountability measures are pursued without exception.

We are also actively embedding sustainability into our supply chain management by gradually incorporating ESG considerations into supplier selection, evaluation, and performance reviews, strengthening our suppliers' capacity to align with the Group's sustainability development and direction.

In line with our commitment to localised operations and regional synergy, Ying Li places strong emphasis on building local supply chains. This approach not only enhances supply chain resilience and operational efficiency but also actively contributes to the growth of local industries and economies. By prioritising local sourcing, we strengthen community ties and support sustainable regional development. In 2025, the Group collaborated with more than 150 suppliers who have made significant contributions to the Group.

Number of Main Suppliers by Geographical Region China

119

Singapore

34

In order to effectively identify supply chain risks while ensuring that all suppliers remain in compliance with the Group's policies, annual supplier reviews and evaluations are conducted, assessing aspects including product and service quality, coordination, business ethics, professionalism of key personnel, risk control mechanisms, and effective communication. At the same time, we value feedback from our suppliers as this provides candid two-way communication and continuous improvement to Ying Li in the long run.

AL RE