CHINA RESOURCES LAND LIMITED

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1 CHINA RESOURCES LAND LIMITED 2010 Interim Results Review August

2 Agenda Highlights Financial Review Land Bank Completion Schedule Business Strategy

3 Highlights Net profit in 1H 2010 rose 168.5% yoy to HK 3,461.8 mn on the back of 267.5% yoy increase in revenue (HK12,412.5mn vs. HK3,377.9mn) and margin improvement in residential development; Overall margin stayed flat at 38.9%, (vs. 39.0% for 1H 2009). While IP gross margin remained high at 69.0%, development margin rose to 38.5% (vs. 34.7% for 1H 2009); On an adjusted basis, basic EPS in1h 2010 rose 156.7% yoy (HK 69.1 vs. HK 26.9 cents); Development operation saw a respective yoy growth of 368.6% in revenue and 419.4% in gross profit; IP sustained its strong underlying performance, with 24.0% and 20.9% yoy growth in revenue and gross profit; We added 2.5 mn sqm GFA in new land bank this year as of August 22nd at a total cost of Rmb 6.0 bn, thus further enhancing its strong earnings growth profile; As at August, 22 nd, the Group had locked in a total of Rmb 29.3 bn contracted but unbooked sales (including Rmb 19.1 bn sales contracted in 2009), of which Rmb16.6 bn is to be recognized in 2010; Differentiated business model, unparalleled parent supports, strong balance sheet and low funding costs put the Group in an unrivalled position to deliver strong and sustained growth. HIGHLIGHTS 2

4 Income statement 6 Months Ended 30 Jun (HK$ mn) % of 1H % of 1H 2010 Sales 2009(Restated) Sales YOY Change Turnover 12, , % Development 11, % 2, % 368.6% Investment Property % % 24.0% Gross Profit 4, % 1, % 266.6% Development 4, % % 419.4% Investment Property % % 20.9% IP Revaluation Gain 2, ,238.7 Taxation -2, Minority Interest -1, Attributable Net Profit 3, % 1, % 168.5% Core Profit 1, % % 238.8% IP Revaluation Gain 1, One-off Items F I N A N C I A L R E V I E W EPS - Basic (HK$) % EPS - Fully Diluted (HK$) % DPS (HK$) % Net Profit grew 168.5% yoy, driven by a rise in revenue and improvement in development margin 3

5 Agenda Highlights Financial Review Land Bank Completion Schedule Business Strategy

6 Adjusted Net Profit and EPS Adjusted for Apple-to-Apple Comparison 6 Months Ended 30 Jun (HK$ mn) 1H H 2009(Restated) YOY Change Reported Attributable Net Profit 3, , % Reported EPS (HK$) - Basic % - Fully Dilluted % Adjustments for Non-recurrent or Non-comparable Items Less: Mark-to-market gains/(loss) on IRS (22.9) 19.7 F I N A N C I A L R E V I E W Adjusted Underlying Attributable Net Profit 3, , % of which, Core net profit 1, % Revaluation gain, net of deferred taxation+ MI 1, Adjusted Underlying EPS (HK$) - Basic % - Fully Dilluted % Underlying net profit growth was strong at 174.4% with core net profit growth at 238.8% 5

7 F I N A N C I A L R E V I E W Booking of property development income 6 Months Ended 30 Jun Turnover HK$mn sqm Eco Living ,100 Phonenix City Oak Bay ,369 Others Shanghai Oak Bay Shenzhen Park Lane ,177 Chengdu Jade City ,046 Chengdu Phonenix City ,612 Chengdu Twenty-Four City Wuhan Phonenix City Wuhan Central Park ,709 Hefei Frech Annecy Hefei Park Lane Manor ,296 Hangzhou MIXc Residence 3, ,633 Wuxi Taihu Int'l Community ,492 Dalian Oriental Xanadu 2, ,414 Dalian Maritime ,631 Changsha Phoenix City ,177 Suzhou Villa ,390 Chongqing Twenty-Four City ,116 1H 2010 Total 11, ,770 1H 2009 Total 2, ,358 YOY Change, % 368.5% 234.4% 6 Development revenue rose 368.5%strongly on the back of 234.4% yoy growth in GFA booked GFA

8 Sales contracted in 2010 (As of 22 nd August) City Project Total GFA Overgroud(sqm) Accumulated GFA Sold as of August 22nd (sqm) GFA Sold in 2010 (sqm) Contracted Value (RMB mn) Beijing Oak Bay 616, ,943 8, Eco Living 217, , Others Shanghai The Bund Side 189, ,061 1, Oak Bay 230,795 61,712 8, Shenzhen Park Lane Manor 110,000 96,499 1, Chengdu Jade City 1,063, ,256 78, Twenty-four City 1,640, ,456 84, Phoenix City 694, ,106 93, Oak Bay 523,511 5,022 5, Wuhan Central Park 346, ,767 53, C O M P L E T I O N S C H E D U L E Hefei Park Lane Manor 195, ,529 31, Ziyunfu Project 223,771 91,343 91, Wuxi Taihu Int'l Commu. 1,017, ,116 24, Ningbo Tuscany Lake 130,352 98,967 8, Central Park Phase 284, ,495 38,

9 Sales contracted in 2010 (As of 22 nd August) City Project Total GFA Overgroud(sqm) Accumulated GFA Sold as of August 22nd (sqm) GFA Sold in 2010 (sqm) Contracted Value (RMB mn) Dalian Oriental Xanadu 166, ,514 6, Maritime 1,309, ,350 98, Suzhou Suzhou Villa 67,595 15,466 2, Changsha Phoenix City 1,198, , , Chongqing Twenty-four City 1 1,951, , , Shenyang The Arch 280,000 84,434 23, Oak Bay 891,434 23,360 23, Fuzhou Oak Bay 603,108 72,183 72, Others Car Park etc. 65, Total : 1,048,738 10,155 C O M P L E T I O N S C H E D U L E Together with Rmb19.1bn sales contracted in 2009, the Group has a total of Rmb29.3bn contracted but unbooked sales as of Aug 22nd, 2010, of which Rmb16.6bn is to be recognized in

10 Average Selling Price of Key Projects F I N A N C I A L R E V I E W RMB/sqm 1H 10 1H 09 YOY % July & August 2010 Recent Price Change % Beijing Eco Living 36,681 16, % 42,000-50, % Ningbo Tuscany Lake Phase II 31,798 14, % 33, % Shanghai Oak Bay 39,961 20, % 40, % Chengdu Jade City Phase IV 12,244 6, % - - Dalian Maritime 13,810 7, % 8,119 - Wuxi Taihu Int'l Community 11,963 6, % 11, % Beijing Oak Bay 27,713 14, % 33, % Chengdu 24 City PhaseII 10,210 6, % 10, % Chengdu Jade City Phase V 11,443 6, % 11, % Chongqing 24 City 6,544 4, % 7, % Suzhou Villa 42,920 29, % - - Hefei Park Lane Manor 7,508 5, % 7, % Dalian Oriental Xanadu 40,738 30, % - - Ningbo Central Park 15,851 10, % 17, % Chengdu Phoenix City Phase I&II 8,118 5, % 8, % Wuhan Central Park Phase I&II 11,145 8, % 11, % Shenyang China Resources Arch 8,409 9, % Hunan Phoenix Phase II 4,309 3, % 4, % Shenzhen Park Lane 40, Chengdu Oak Bay Phase I 7, Hefei Ziyunfu Project 6,508 7, % Shenyang Oak Bay 10,807 12, % Fuzhou Oak Bay (Townhouse) 18,917 25, % Fuzhou Oak Bay (Apartment) 9,187 10, % Shanghai The Bund Side 34, % 100,000 Shanghai Oak Bay 38, % 40,000-50,000 Hangzhou Mixc Residential 31, % 45,000 Weighted average price for contracted sales 9,735 8, % Weighted avg. price rose 10.3% in 1H 2010 yoy while Jul. & Aug. prices stayed at 1H levels 9

11 Income from IP + Property Management YOY YOY 1H H H H Months Ended 30 Jun (HK$ mn) Change Change Turnover HK$ mn Occupancy Rate % Beijing China Resources Building % 97.4% 93.9% 3.5% Beijing Other Investment Properties % 93.0% 95.5% -2.5% Shanghai CR Times Square % 98.2% 92.5% 5.7% Shenzhen City Crossing % 96.7% 99.0% -2.3% Hangzhou MIXc 15.5 N/A N/A 85.4% N/A N/A Property Management % N/A N/A N/A F I N A N C I A L R E V I E W Total Rental Income: % IP sustained its strong momentum with a 23.4% yoy growth in revenue 10

12 Margins 6 Months Ended 30 Jun (HK$ mn) 1H H 2009 YOY Change Turnover Development 11, , % Investment & Others % Gross Profit Development 4, % Investment & Others % Gross Profit Margin 38.9% 39.0% -0.1% Development 38.5% 34.7% 3.8% Investment & Others 69.0%* 70.7% F I N A N C I A L R E V I E W * Excluding revenue portion from residential management fee, gross margin from pure IP stayed high at >80%(83.2% for 1H10 vs. 84.5% for 1H09) Development margin continued to rise with underlying IP margin stayed high at >80% 11

13 Finance costs 6 Months Ended 30 Jun (HK$ mn) 1H H 2009 YOY Change Interest on Bank Loans % Less: Capitalisation % Finance Costs on P/L % Average Interest Rate (p.a.) 2.23% 3.20% -30.3% F I N A N C I A L R E V I E W Ready access to low cost debt funding offers CRL a unique competitive advantage 12

14 Financial position 6 Months Ended 30 Jun (HK$ mn) 1H H 2009 YOY Change Total Borrowings 34, , % % in HK$ 70.4% 58.5% % in RMB 29.6% 41.5% Cash On Hand 15, , % % in HK$ 37.9% 32.5% % in RMB 62.1% 67.5% Net Borrowings 18, , % % in HK$ 97.0% 93.4% % in RMB 3.0% 6.6% F I N A N C I A L R E V I E W Equity 40, , % Net Debt to Equity Ratio 46.1% 19.7% N.A. Book Value (HK$) % Balance sheet remains strong 13

15 Agenda Highlights Financial Review Lank Bank Completion Schedule Business Strategy

16 New Land Bank Added in 2010 (as of August 22nd) City Acquisition Date Use Total GFA Overgroud (sqm) Interest Attributable GFA (sqm) Attributable Land Cost (RMB mn) AV (RMB/sqm) Hefei Res.+Comm. 882, % 882,000 1,867 1,689 Zhengzhou MIXc 404, % 404, ,452 Shanghai Comm. 335,000 50% 167,500 1,012 6,042 Tianjin Res. 708, % 708,630 1,939 2,737 Yangzhou Res. 200, % 200, ,700 Grand Total: 2,529,948 2,362,448 5,958

17 Land Bank: residential development L A N D B A N K City Project Property Type Total GFA Overgroud (sqm) Beijing Eco Living High density 188,390 Oak Bay High density 389,142 Mengtougou Project Mid-low density 286,121 Daxing Plot 17 project Mixed density 227,323 Hongtong Tech.Building High density 37,344 Others 202,126 Shanghai The Bund Side High density 109,571 Oak Bay Mixed density 181,217 Jiading Nanxiang Project Mixed density 467,197 Songjiang Project Mid-low density 121,719 Shenzhen Park Lane High density 9,489 Chengdu Jade City Mixed density 286,048 Phoenix City High density 379, City High density 1,347,017 Oak Bay Mixed density 523,511 Qingyang Project High density 336,420 Wukuaishi Project High density 84,483 Donghu Project High density 71,716 Wuhan Phoenix City High density 7,998 MO+ Mixed density 41,231 Central Park Mixed density 312,987 Hefei French Annecy Mixed density 9,085 Park Lane Manor Mixed density 112,327 Ziyunfu Project High density 199,500 Zhengwu District Project High density 618,000 Hangzhou MIXc Residence Mixed density 6,156 MIXc Residence Serviced Apart. 91,622 Zhijiang Project High density 181,279 16

18 Land Bank: residential development (continued) City Project Property Type Total GFA Overgroud (sqm) L A N D B A N K Wuxi Taihu Int'l Commu. Mixed density 830,349 Ningbo Tuscany Lake Valley Mid-low density 80,577 Central Park High density 284,348 Dalian Maritime High density 1,231,961 Oriental Xanadu Mixed density 105,723 Changsha Phoenix City High density 992,243 Hanpu Project High density 460,296 Suzhou Suzhou Villa Mid-low density 59,205 Xiangchen Project Mixed density 337,543 Chongqing 24 City High density 1,554,551 Central Park High density 572,665 Shenyang Oak Bay Mixed density 890,476 City Corssing High density 150,083 The Arch High density 280,000 CR Plaza High density 247,040 Xiamen Oak Bay High density 307,826 Fuzhou Oak Bay Mixed density 603,108 Tianjin Xiangweidi Project Mixed density 151,541 Huaming Project Mixed density 708,630 Mianyang Central Park Mixed density 672,063 Anshan Education Bureau Project High density 360,200 Carrefour North Project High density 190,200 Nantong Nengda Commerical Zone Proj. Mixed density 415,200 Qingdao Submarine School Project High density 372,700 Zhengzhou The MIXc High density 224,000 Yangzhou Jiangwang Project Mid-low density 200,260 Total GFA: 19,110,964 Attributable GFA: 18,661,908 Land bank sufficient to meet development needs in the next few years 17

19 Land Bank: Up-and-running investment properties L A N D B A N K City Project Property Type Total GFA Overgroud (sqm) City Project Property Type Substantial IP assets solidify future earnings while mitigating earnings risks Total GFA Overgroud (sqm) Beijing Oak Bay (west) retail 35,006 Wuxi Taihu Int'l Commu. 8,117 Oak Bay (east) retail 83,900 Taihu Int'l Commu. 41,000 Hongtong Tech.Building Project retail 10,000 Taihu Int'l Commu. hotel 74,000 Hongtong Tech.Building Project office 30,000 Taihu Int'l Commu. office 30,000 Hongtong Tech.Building Project hotel 35,000 Dalian Orintal Xanadu hotel 76,138 CR Plaza retail 23,645 Suzhou Xiangcheng Distric project supermarket+retail 25,000 CR Plaza office 44,520 Chongqing 24 City shopping mall 116,344 CR Plaza serviced apartment 20, City hotel 50,000 Shanghai The Bundside Ph.2 serviced apartment 22, City office 50,000 Wuzhong Project shopping mall 146, City retail 27,610 Wuzhong Project serviced apartment 161,500 Shengyang City Crossing shopping mall 156,396 Wuzhong Project office 27,500 City Crossing office 59,697 Chendou City Crossing Shopping mall 239,524 City Crossing hotel 57,040 City Crossing office 73,650 The Landmark shopping mall 140, City retail 196,826 The Landmark office 40,000 Donghu commercial retail 13,880 The Landmark hotel 18,000 Others retail 77,919 Mianyang Central park retail 50,794 Hefei Park lane retail 45,000 Central park 53,004 Park lane office 60,000 Anshan Education Bureau project supermarket+retail 36,000 Zhengwu District project shopping mall 200,000 Qindao City Crossing hotel 172,700 Zhengwu District project 64,000 City Crossing office 50,000 Hangzhou MIXc Residence retail 14,344 City Crossing 150,000 MIXc Residence office 75,888 Zhengzhou City Crossing shopping mall 140,000 City Crossing 36,018 City Crossing office 40,000 City Crossing 99,362 Grand Total: 3,498,679 Attributable GFA: 3,131,548 18

20 Remaining Land Bank held by CRH City Acquisition Date Total GFA Overgroud (sqm) (RMB mn) Wuhan Apr ,000 Residence 476,000 1,621 3,405 Wuhan Sep ,650 Commercial 433,650 2,692 6,208 Wuxi Nov ,000 Residence 260,000 1,278 4,915 Nanning Dec ,000 Commercial 312, ,676 Changzhou Jun ,345,903 Residence 1,345,903 1,811 1,345 Nanjing Sep ,793 Residence 277,793 2,220 7,992 kunshan Nov ,987 Residence 285,987 2,160 7,545 Shenzhen Bay Dec ,000 Re+Office 330,000 N.A. N.A. Shenzhen Dachong - 1,760,000 Re+Comm.+Office 1,760,000 N.A. N.A. Hainan Shimei Bay Jun ,000 Residence 700,000 2,467 3,446 Grand Total: 6,438,333 Attributable GFA: 6,182,283 Use Attributable GFA (sqm) Attributable Land Cost AV (RMB/sqm) LAND-BANK 19

21 Agenda Highlights Financial Review Land Bank Completion Schedule Business Strategy

22 Schedule for bookable areas for post 2012 City Project Projected Schedule For Bookable Area (sqm) 2010E 2011E 2012E C O M P L E T I O N S C H E D U L E Beijing Phoenix City 3,458 - Oak Bay 46,512 71,689 48,676 Eco Living 28, ,006 29,028 Mentougou Project ,790 Daxing Project # ,124 Hongtong Tech. Building Others Shanghai The Bund Side ,099 - Oak Bay 54,800 56,760 59,475 Jiading Project ,400 Songjiang Project ,549 Nantong Project - 19,226 96,131 Shenzhen Park Lane Manor 2, Chengdu Jade City 168,000 50,528 - Twenty-four City 78, , ,186 Phoenix City 170, ,020 Oak Bay 60, ,804 Central Park - 115, ,447 Wukuaishi Project ,483 Qingyang Project ,140 Wuhan Phoenix City 4, Central Park 122, , ,383 Mo+ (Mingzhu Road) - 41,231 - Oak Bay (Incubated) - 113, ,817 Hefei French Annecy 4, Park Lane Manor 174, Ziyun Manor - 199,500-21

23 C O M P L E T I O N S C H E D U L E Schedule for bookable areas for post 2012(continued) City Project Projected Schedule For Bookable Area (sqm) 2010E 2011E 2012E Hangzhou MIXc Residence 105, Zhijiang Project Wuxi Taihu Int'l Community 158, , ,213 Industry School Proj ,459 Changzhou Int'l Comm , ,782 Nanjing Suojie Project Ningbo Tuscany Lake 46,460-33,640 Central Park - 125,623 - Dalian Maritime 214, ,783 Oriental Xanadu 69,457-22,760 Changsha Phoenix City 95, , ,893 Hanpu Project ,400 Suzhou Suzhou Villa 17,175 23,652 13,655 Xiangcheng project ,368 Kunshan Projcect ,150 Chongqing Twenty-four City 158, , ,682 Jiangbei Project ,701 Shenyang China Resources Arch - 88, ,953 The Landmark ,154 Oak Bay - 131, ,740 City Crossing ,083 Anshan Education Bureau project ,400 Anshan North Carryfour project ,400 Fuzhou Oak Bay - 50, ,489 Xiamen Oak Bay ,052 Qingdao Shandong Rd.#10 Project Tianjin Xinjiayuan Project - 14,934 - Nanning Park Lane Manor Total bookable : 1,784,587 2,756,408 4,713,210 22

24 Schedule for IP for post 2012 Project Use Completion Data Operation Data Rentable Area C O M P L E T I O N S C H E D U L E Rentable area in operation at the end-jun ,000 Beijing Landmark Square A# Office Dec-09 Apr-10 30,863 Hangzhou Mixc Shopping Mall Dec-09 Apr-10 94,541 Chengdu 24 City Retail Aug-10 1,440 Chongqing 24 City Retail Dec-09 Jun Chengdu Jade City Retail Oct-10 20,590 Total rentable area to be added in ,872 Chengdu Oak Bay Ph.1 Retail Jan-11 6,375 Wuhan Central Park Retail Jan-11 6,941 Shengyang Mixc Shopping Mall Nov-10 Apr ,584 Beijing Shangdi Commerc Property(Oak Bay)(West) Retail Jun-11 25,086 Wuhan MO+ Retail Jun-11 4,163 Beijing Oak Bay (West) Shopping Mall Mar-11 Jul-11 25,467 Beijing Landmark Square FH# Office Jun-11 Jul-11 42,739 Beijing Landmark Square G# Serviced Apart. Jun-11 Sep-11 19,678 Beijing Landmark Square Others Jun-11 Dec-11 23,188 Shengyang City Crossing Ph.1 Office Jul-11 Oct-11 54,325 Total rentable area to be added in ,230 Shanghai Bundside #EF Serviced Apart. Oct-11 Jan-12 17,391 Chongqing 24 City Ph.1B Retail Sep-11 Jan-12 5,557 Chengdou Mixc Shopping Mall Jan-12 Mar-12 82,963 Chengdou Mixc Office Jan-12 Mar-12 73,650 Nanning Mixc Shopping Mall Sep-12 Oct ,234 Nanning Mixc Office Jul-12 Oct ,940 Total rentable area to be added in ,735 23

25 Agenda Highlights Financial Review Land Bank Completion Schedule Business Strategy

26 Major corporate developments in 2010: CRH 63% The Company 100% 100% 100% 100% 100% 96% 100%/55% 100% 100% Shanghai Chengdu Beijing Dalian Shenzhen Hefei 100% 100% 98% 100% 100% 60% Changsha Wuhan Tianjin Suzhou Shenyang Wuxi Hefei 100% 100% 60% 100% 100% Zhengzhou Nantong Hangzhou Chongqing Mianyang 98% 100% 100% 100% 100% 100% Qingdao Ningbo Anshan Xiamen Fuzhou Yangzhou We have accessed into 23 cities real estate markets. China Resources (Beijing) Building ( 北京华润大厦 ) The MIXc Ⅰ & Ⅱ( 万象城一期二期 ) China Resources Building ( 华润大厦 ) Grand Hyatt ( 君悦酒店 ) Beijing China Resources Hotel Site ( 北京华润店饭 ) 100% 60% Hangzhou MIXc ( 杭州万象城 ) China Resources Time Square ( 华润时代广场 ) 100% Commercial in Shenyang, Chengdu, Zhengzhou, Qingdao ( 商业在沈阳成都郑州青岛 ) 100% 100% 100% Construction operation Decoration operation Furniture operation 25

Business model refined to strengthen CRL s differentiation competitive strength Residential Development + Investment Property Holding + Value-added Services High earning growth But earning subject

gains Recurrent & stable earning but slow growth Effectiveness to withstand risks Potential long term gains in asset value Vertical integration to better cater for rising demand for

27 Business model refined to strengthen CRL s differentiation competitive strength Residential Development + Investment Property Holding + Value-added Services High earning growth But earning subject to high volatility and regulatory changes uto balance long-term and short-term return uto balance the cash flow uto reduce the development risk uto guarantee the growth and stability of long-term gains Recurrent & stable earning but slow growth Effectiveness to withstand risks Potential long term gains in asset value Vertical integration to better cater for rising demand for one-stop/valueadded solution Improved cost/quality control Enhance EPS and improve corporate governance The pilot projects of Storage Space Total Solution have been successful, now being popularized nationwide.

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CHINA RESOURCES LAND LIMITED

CHINA RESOURCES LAND LIMITED 2012 Annual Results Review 15 March 2013 Agenda Highlights Financial Review Land Bank Completion Schedule Appendix Highlights Net profit in FY12 rose 30.1% YoY to HK$10,569