IRC Limited — Capital/Financing Update 2016

Jan 18, 2016

Form A 表格甲

To be valid, the whole of this PAL must be returned. 本暫定配額通知書必須整份交還，方為有效。

Provisional Allotment Letter No. 暫定配額通知書編號

IMPORTANT 重要提示

THIS PROVISIONAL ALLOTMENT LETTER (THE “PAL”) IS VALUABLE AND TRANSFERABLE AND REQUIRES YOUR IMMEDIATE ATTENTION. THE OFFER CONTAINED IN THIS PAL AND THE ACCOMPANYING EXCESS APPLICATION FORM (THE “EAF”) EXPIRES AT 4:00 P.M. ON MONDAY, 1 FEBRUARY 2016.

本暫定配額通知書（「暫定配額通知書」）乃有價值及可轉讓，並須 閣下即時處理。本暫定配額通知書及隨附的額外申請表格（「額外申請表格」）所載的要約將於二零一六年二月一日（星期一）下午四時正屆滿。

IF YOU ARE IN ANY DOUBT AS TO ANY ASPECT OF THIS PAL, OR AS TO THE ACTION TO BE TAKEN, OR IF YOU HAVE SOLD ALL OR PART OF YOUR SHARES IN LAI SUN DEVELOPMENT COMPANY LIMITED (“THE COMPANY”), YOU SHOULD CONSULT YOUR STOCKBROKER OR OTHER REGISTERED SECURITIES DEALER, BANK MANAGER, SOLICITOR, PROFESSIONAL ACCOUNTANT OR OTHER PROFESSIONAL ADVISERS.

閣下如對本暫定配額通知書的任何方面或應採取之行動有任何疑問，或 閣下如已出售麗新發展有限公司（「本公司」）之全部或部份股份，應諮詢 閣下的股票經紀或其他註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 REFERENCE IS MADE TO THE PROSPECTUS (THE “PROSPECTUS”) ISSUED BY THE COMPANY DATED 18 JANUARY 2016 IN RELATION TO THE RIGHTS ISSUE. TERMS DEFINED IN THE PROSPECTUS SHALL HAVE THE SAME MEANINGS WHEN USED HEREIN UNLESS THE CONTEXT OTHERWISE REQUIRES.

茲提述本公司於二零一六年一月十八日就供股刊發之供股章程（「供股章程」）。除文義另有所指外，供股章程所界定詞彙與本通知書所採用者具有相同涵義。

Copy of the Prospectus, together with copies of this PAL, the EAF and the written consent of Ernst & Young, have been registered by the Registrar of Companies in Hong Kong as required by Section 38D of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong). The Registrar of Companies in Hong Kong and the SFC take no responsibility as to the contents of any of the documents referred to above.

供股章程連同本暫定配額通知書、額外申請表格及安永會計師事務所之同意書之副本，已遵照香港法例第 32 章公司（清盤及雜項條文）條例第 38D 條之規定送呈香港公司註冊處處長登記。香港公司註冊處處長及證監會對任何上述文件之內容概不負責。

Dealings in the Shares and Rights Shares in their nil-paid and fully-paid forms may be settled through CCASS operated by HKSCC and you should consult your stockbroker or other registered securities dealer, bank manager, solicitor, professional accountant or other professional advisers for details of those settlement arrangements and how such arrangements may affect your rights and interests.

股份及未繳股款與繳足股款供股股份之買賣可透過香港結算營運之中央結算系統進行交收。 閣下應諮詢 閣下之股票經紀或其他註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問，以了解結算安排詳情以及有關安排可能如何影響 閣下之權利及權益。 Subject to the granting of the listing of, and permission to deal in, the Rights Shares in both nil-paid and fully-paid forms on the Stock Exchange, as well as compliance with the stock admission requirements of HKSCC, the Rights Shares in both their nil-paid and fully-paid forms will be accepted as eligible securities by HKSCC for deposit, clearance and settlement in CCASS with effect from the respective commencement dates of dealings in the Rights Shares on the Stock Exchange or such other date as determined by HKSCC. Settlement of transactions between the participants of the Stock Exchange on any trading day is required to take place in CCASS on the second trading day thereafter. All activities under CCASS are subject to the General Rules of CCASS and CCASS Operational Procedures in effect from time to time.

待未繳股款及繳足股款供股股份獲准在聯交所上市及買賣並符合香港結算之股份收納規定後，未繳股款及繳足股款供股股份將獲香港結算接納為合資格證券，可自供股股份於聯交所開始買賣日期或香港結算決定之其他日期起，在中央結算系統記存、結算及交收。 聯交所參與者之間於任何交易日之交易須於其後第二個交易日在中央結算系統內進行交收。中央結算系統進行之一切活動均須依照不時生效之中央結算系統一般規則及中央結算系統運作程序進行。 Hong Kong Exchanges and Clearing Limited, the Stock Exchange and HKSCC take no responsibility for the contents of this PAL, 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 PAL.

香港交易及結算所有限公司、聯交所及香港結算對本暫定配額通知書之內容概不負責，對其準確性或完整性亦不發表聲明，並明確表示，概不就本暫定配額通知書全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。

Registrar: Tricor Tengis Limited Level 22 Hopewell Centre 183 Queen’s Road East Hong Kong

股份登記處： 卓佳登捷時有限公司 香港 皇后大道東一百八十三號 合和中心 二十二樓

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RIGHTS ISSUE OF LAI SUN DEVELOPMENT COMPANY LIMITED OF 10,047,266,781 RIGHTS SHARES AT THE SUBSCRIPTION PRICE OF HK$0.092 EACH ON THE BASIS OF ONE RIGHTS SHARE FOR EVERY TWO EXISTING SHARES HELD ON THE RECORD DATE

Registered Office: 11th Floor Lai Sun Commercial Centre 680 Cheung Sha Wan Road Kowloon Hong Kong 註冊辦事處： 香港 九龍 長沙灣道六百八十號 麗新商業中心 十一樓

麗新發展有限公司 以每股 0.092 港元之認購價 供股發行 10,047,266,781 股供股股份 基準為於記錄日期 每持有兩股現有股份獲配一股供股股份

PAYABLE IN FULL ON ACCEPTANCE NOT LATER THAN 4:00 P.M. ON MONDAY, 1 FEBRUARY 2016 股款須於二零一六年二月一日（星期一）下午四時正前接納時全數繳足

PROVISIONAL ALLOTMENT LETTER 暫定配額通知書

Name(s) and address of the Qualifying Shareholder(s) 合資格股東姓名及地址

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Number of Share(s) registered in your name(s) on Friday, 15 January 2016
於二零一六年一月十五日（星期五）登記於 閣下名下的股份數目
BOX A
甲欄
Number of Rights Shares provisionally allotted to you subject to payment in full on acceptance not later
than 4:00 p.m. on Monday, 1 February 2016
暫定配發予 閣下的供股股份數目，股款須於二零一六年二月一日（星期一）下午四時正前接納時繳
足
BOX B
乙欄
Total subscription monies payable
應繳認購股款總額
BOX C
丙欄
HK$
港元
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Contact Tel. no.: 聯絡電話號碼：

TO ACCEPT THIS PROVISIONAL ALLOTMENT OF RIGHTS SHARES IN FULL, YOU MUST LODGE THIS PAL INTACT WITH THE REGISTRAR, TRICOR TENGIS LIMITED, AT LEVEL 22, HOPEWELL CENTRE, 183 QUEEN’S ROAD EAST, HONG KONG , TOGETHER WITH A REMITTANCE FOR THE FULL AMOUNT PAYABLE ON ACCEPTANCE SHOWN IN BOX C ABOVE SO AS TO BE RECEIVED BY THE REGISTRAR NOT LATER THAN 4:00 P.M. MONDAY, 1 FEBRUARY 2016. ALL REMITTANCES MUST BE MADE BY

CHEQUE OR CASHIER’S ORDER IN HONG KONG DOLLARS. CHEQUES MUST BE DRAWN ON A BANK ACCOUNT WITH, AND CASHIER’S ORDERS MUST BE ISSUED BY, A LICENSED BANK IN HONG KONG AND MADE PAYABLE TO “LAI SUN DEVELOPMENT COMPANY LIMITED — RIGHTS ISSUE ACCOUNT” AND CROSSED “ACCOUNT PAYEE ONLY”. INSTRUCTIONS ON TRANSFER AND SPLITTING ARE SET OUT OVERLEAF. NO RECEIPT WILL BE GIVEN.

閣下如欲接納全部供股股份的暫定配額，須將本暫定配額通知書整份連同上文丙欄所示須於接納時繳付並由股份登記處卓佳登捷時有限公司（地址為香港皇后大道東一百八十三號合和中心二十二樓）收取的全數股款，於二零一六年二月一日（星期一）下午四時正前交回上述股份登記處。 所有股款須以港元支票或銀行本票繳付。支票須以香港之持牌銀行戶口開出，而銀行本票須由香港之持牌銀行發出，並註明抬頭人為「LAI SUN DEVELOPMENT COMPANY LIMITED — RIGHTS ISSUE ACCOUNT」，以「只准入抬頭人賬戶」劃 線方式開出。 有關轉讓及分拆之說明載於背頁。本公司將不另發股款收據。 The Rights Issue is conditional upon, amongst others, (i) the Underwriting Agreement becoming unconditional and not being terminated; and (ii) permission to deal in and listing of all Rights Shares (in their nil-paid and fully-paid forms) being granted by the Stock Exchange and not being withdrawn or revoked prior to the Latest Time for Termination. If any of the conditions (as set out in the section headed “Letter from the Board — Conditions to the Rights Issue and the Underwriting Agreement” in the Prospectus) of the Rights Issue is not fulfilled, the Rights Issue will not proceed. 供股須待（其中包括）(i) 包銷協議成為無條件及並無被終止；及 (ii) 聯交所批准所有供股股份（未繳股款及繳足股款）上市及買賣，且於最後終止時間前無撤回或撤銷有關批准後，方可作實。倘供股章程「董事會函件—供股及包銷協議之條件」一節所述之任何供股條件未 能達成，則供股將不會進行。 The Underwriter has the right under the Underwriting Agreement to rescind or terminate the Underwriting Agreement by notice to the Company at any time prior to 4:00 p.m. on the Settlement Date, in certain circumstances set out in the Underwriting Agreement. Details of the circumstances in which the Underwriter has the right to terminate the Underwriting Agreement are set out below in this PAL in the section headed “Termination of the Underwriting Agreement”. 根據包銷協議，包銷商有權在包銷協議內所載之若干情況下，隨時於交收日期下午四時正前向本公司發出通知撤銷或終止包銷協議。包銷商有權終止包銷協議之情況詳情，載於本暫定配額通知書下文「終止包銷協議」一節。

If prior to 4:00 p.m. on the Settlement Date, the Underwriter terminates the Underwriting Agreement, the Rights Issue will not proceed.

倘包銷商於交收日期下午四時正之前終止包銷協議，則供股將不會進行。

THIS FORM IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES. 本表格不可直接或間接在或向美國刊發、發放或派發。

No offer of the Rights Issue is to be made to the public in the Netherlands.

供股將不會向荷蘭之公眾人士提呈發售。

Shareholders should note that the existing Shares have been dealt in on an ex-rights basis on the Stock Exchange from Tuesday, 12 January 2016. The Rights Shares in their nil-paid form will be dealt in from Wednesday, 20 January 2016 to Wednesday, 27 January 2016 (both days inclusive).

股東須注意，現有股份已由二零一六年一月十二日（星期二）起於聯交所按除權基準買賣。未繳股款供股股份將由二零一六年一月二十日（星期三）至二零一六年一月二十七日（星期三）（包括首尾兩日）買賣。

Any dealings in the Shares from the date of the Prospectus up to the date on which all the conditions of the Rights Issue are fulfilled, which is currently expected to be 4:00 p.m. on Friday, 5 February 2016 , and any dealings in the Rights Shares in their nil-paid form between Wednesday, 20 January 2016 to Wednesday, 27 January 2016 (both days inclusive) are accordingly subject to the risk that the Rights Issue may not become unconditional or may not proceed. Shareholders and potential investors should therefore exercise caution when dealing in the Shares or Rights Shares in their nil-paid form, and if they are in any doubt about their position, they are recommended to consult their professional advisers. 於供股章程日期至供股之條件全部達成之日（現時預期為二零一六年二月五日（星期五）下午四時正）期間買賣股份及於二零一六年一月二十日（星期三）至二零一六年一月二十七日（星期三）（包括首尾兩日）期間買賣未繳股款供股股份將承受供股可能不會成為無條件或 可能不會進行之風險。因此，股東及潛在投資者於買賣股份或未繳股款供股股份時，務必審慎行事，如彼等對其情況有任何疑問，務請諮詢其專業顧問。

18 January 2016

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Dear Qualifying Shareholder(s),

INTRODUCTION In accordance with the terms and conditions of this PAL and those set out in the Prospectus and subject to the articles of association of the Company, the Directors have provisionally allotted to you the number of Rights Shares in the Company indicated on the front page of this PAL on the basis of one Rights Share for every two existing Shares in the Company registered in your name in the register of members of the Company as at 5:00 p.m. on Friday, 15 January 2016 . Your holding of Existing Shares as at that date is set out in Box A on the front page of this PAL and the number of Rights Shares provisionally allotted to you is set out in Box B on the front page of this PAL. Terms defined in the Prospectus have the same meanings when adopted herein unless the context otherwise requires. You have the right to acquire the Rights Shares provisionally allotted to you at a price of HK$0.092 per Rights Share payable in full on acceptance, in the manner set out below, by not later than 4:00 p.m. on Monday, 1 February 2016. You may, subject to the section headed “Qualifying Shareholders and Non-Qualifying Shareholders” below, accept all or any number of the Rights Shares provisionally allotted to you hereunder or dispose of your right to all or any of them. If you wish to accept only part of your provisional allotment and to transfer the remainder or to transfer your provisional allotment to more than one person, you should refer to the instructions in the section headed “Splitting” below. If you wish to transfer all of your provisional allotment you should refer to the instructions in the section headed “Transfer” below. The Rights Issue is conditional upon the Underwriting Agreement becoming unconditional and not being terminated. If the conditions of the Rights Issue are not fulfilled, the Rights Issue will not proceed. RIGHTS SHARES The Rights Shares, when allotted, issued and fully-paid, will rank pari passu in all respects with the Shares then in issue such that holders of fully-paid Rights Shares will be entitled to receive all future dividends and distributions which may be declared, made or paid after the date of issue and allotment of the fully paid Right Shares. Subject to the granting of the listing of, and permission to deal in, the Rights Shares in their nil-paid and fully-paid forms on the Stock Exchange, as well as compliance with the stock admission requirements of HKSCC, the Rights Shares in their nil-paid and fully-paid forms will be accepted as eligible securities by HKSCC for deposit, clearance and settlement in CCASS with effect from the respective commencement dates of dealings in the Rights Shares in their nil-paid and fully-paid forms on the Stock Exchange or such other dates as determined by HKSCC. Settlement of transactions between participants of the Stock Exchange on any trading day is required to take place in CCASS on the second trading day thereafter. All activities under CCASS are subject to the General Rules of CCASS and CCASS Operational Procedures in effect from time to time. PROCEDURE FOR ACCEPTANCE Any person (including, without limitation, agents, custodians, nominees and trustees) outside Hong Kong wishing to take up his/her/its rights under the Rights Issue must satisfy himself/herself/itself as to full observance of the applicable laws of any relevant territory including obtaining any requisite governmental or other consents, observing any other requisite formalities and paying any issue, transfer or other taxes due in such territories. The attention of Shareholders with registered addresses in the Specified Territory or holding Shares on behalf of persons with such addresses is drawn to the section below headed “Qualifying Shareholders and Non-Qualifying Shareholders”. Qualifying Shareholders who wish to take up their provisional allotment of Rights Shares in full, must lodge the whole of this PAL intact with the Company’s Registrar, Tricor Tengis Limited, at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong, together with a remittance for the full amount payable on acceptance, as shown in Box C on the front page of this PAL, so as to be received by not later than 4:00 p.m. on Monday, 1 February 2016. All remittances must be in Hong Kong dollars and cheques must be drawn on a bank account with, or cashier’s orders must be issued by, a licensed bank in Hong Kong and made payable to “Lai Sun Development Company Limited — Rights Issue Account” and crossed “Account Payee Only”. Such payment will constitute acceptance of the provisional allotment on the terms of this PAL and the Prospectus and subject to the articles of association of the Company. No receipt will be given for such remittances. All enquiries in connection with this PAL should be addressed to the Company’s Registrar at the above address. It should be noted that, unless a PAL, duly completed, together with the appropriate remittance shown in Box C on the front page of this PAL, has been received as described above by 4:00 p.m. on Monday, 1 February 2016, whether from the original allottee or any person in whose favour the rights have been validly transferred, your provisional allotment and all rights thereunder will be deemed to have been declined and will be cancelled. The Company may (at its sole discretion) treat a PAL as valid and binding on the person(s) by whom or on whose behalf it is lodged even if not completed in accordance with the relevant instructions. SPLITTING If you wish to accept only part of your provisional allotment or transfer a part of your rights to subscribe for the Rights Shares provisionally allotted to you hereunder or to transfer all or part of your rights to more than one person, this original PAL must be surrendered and lodged for cancellation with a covering letter stating clearly the number of split PALs required and the number of nil-paid Rights Shares to be comprised in each split PAL (which, in aggregate, should be equal to the number of Rights Shares provisionally allotted to you as set out in Box B on the front page of this PAL), by no later than 4:30 p.m. on Friday, 22 January 2016 with the Company’s Registrar, Tricor Tengis Limited, at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong, who will cancel this original PAL and issue new PALs in the denominations required which will be available for collection at the Company’s Registrar, Tricor Tengis Limited, at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong, after 9:00 a.m. on the second Business Day after the surrender of this original PAL. It should be noted that Hong Kong stamp duty is payable in connection with the transfer of your rights to subscribe for the relevant Rights Shares to the transferee(s) and the acceptance by the transferee(s) of such rights. The Company may (at its sole discretion) treat a PAL as valid and binding on the person(s) by whom or on whose behalf it is lodged even if not completed in accordance with the relevant instructions. TRANSFER If you wish to transfer all of your provisional allotment to another person you should complete and sign the “Form of Transfer and Nomination” (Form B) in this PAL and hand the completed and signed PAL to the person to or through whom you are transferring your provisional allotment. The transferee must then complete and sign the “Registration Application Form” (Form C) in this PAL and lodge this PAL intact together with a remittance for the full amount payable on acceptance with the Company’s Registrar, Tricor Tengis Limited, at the address given above, to effect the transfer by no later than 4:00 p.m. on Monday, 1 February 2016. It should be noted that Hong Kong stamp duty is payable in connection with the transfer of your rights to subscribe for the relevant Rights Shares to the transferee(s) and the acceptance by the transferee(s) of such rights. The Company may (at its sole discretion) treat a PAL as valid and binding on the person(s) by whom or on whose behalf it is lodged even if not completed in accordance with the relevant instructions. The Company and the Underwriter reserve the right to refuse to register any transfer in favour of any person in respect of which the Company or the Underwriter believe such transfer may violate applicable legal or regulatory requirements. EFFECT OF BAD WEATHER The latest time for acceptance of, and payment for, the Rights Shares will not take place at 4:00 p.m. on Monday, 1 February 2016 if there is a tropical cyclone warning signal number 8 or above, or a black rainstorm warning: (i) in force in Hong Kong at any local time before 12:00 noon and no longer in force after 12:00 noon on Monday, 1 February 2016. Instead, the latest time for acceptance of, and payment for, the Rights Shares will be extended to 5:00 p.m. on the same Business Day; or (ii) in force in Hong Kong between 12:00 noon and 4:00 p.m. on Monday, 1 February 2016. Instead, the latest time of acceptance of, and payment for, the Rights Shares will be rescheduled to 4:00 p.m. on the following Business Day which does not have either of those warnings in force at any time between 9:00 a.m. and 4:00 p.m. If the latest time for acceptance of, and payment for, the Rights Shares does not take place on Monday, 1 February 2016, the dates mentioned in this PAL may be affected. The Company will notify the Shareholders by way of announcement(s) of any change to the expected timetable as soon as practicable. TERMINATION OF THE UNDERWRITING AGREEMENT

It should be noted that the Underwriting Agreement grants the Underwriter the right to terminate the Underwriting Agreement by notice in writing to the Company at any time prior to 4:00 p.m. on the Settlement Date if in the sole and absolute opinion of the Underwriter acting in good faith: (a) the success of the Rights Issue would be materially and adversely affected by: (i) the introduction of any new law or regulation or any change in existing law or regulation (or the judicial interpretation thereof) or other occurrence of any nature whatsoever which may materially adversely affect the business or the financial or trading position or prospects of the Group as a whole; or (ii) the occurrence of any local, national or international event or change (whether or not forming part of a series of events or changes occurring or continuing before, and/or after the date of the Underwriting Agreement) of a political, military, financial, economic, currency or other nature (whether or not sui generis with any of the foregoing), or in the nature of any local, national or international outbreak or escalation of hostilities or armed conflict, or affecting local securities market or the occurrence of any combination of circumstances which materially adversely affects the business or the financial or trading position or prospects of the Group as a whole or materially adversely prejudices the success of the Rights Issue or otherwise makes it inexpedient or inadvisable for the Company or the Underwriter to proceed with the Rights Issue; or (iii) any act of God, war, riot, public disorder, civil commotion, fire, flood, explosion, epidemic, terrorism, strike or lock-out which would, in the absolute opinion of the Underwriter materially and adversely affect the business or the financial or trading position or prospects of the Group as a whole; or (b) any material adverse change in market conditions or combination of circumstances in Hong Kong or elsewhere (including without limitation suspension or material restriction or trading in securities) occurs which may adversely and materially affect the success of the Rights Issue.

CHEQUES AND CASHIER’S ORDERS All cheques and cashier’s orders will be presented for payment immediately following receipt and all interest earned on such monies will be retained for the benefit of the Company. Any PAL in respect of which the accompanying cheque or cashier’s order is dishonoured on first presentation is liable to be rejected, and in that event the provisional allotment and all rights thereunder will be deemed to have been declined and will be cancelled. SHARE CERTIFICATES AND REFUND CHEQUES FOR THE RIGHTS ISSUE Subject to the fulfilment of the conditions of the Rights Issue as set out in the section headed “Letter from the Board — Conditions to the Rights Issue and the Underwriting Agreement” in the Prospectus, share certificates for all fully-paid Rights Shares are expected to be posted on or around Wednesday, 17 February 2016 to those Qualifying Shareholders who have accepted and (where applicable) applied for, and paid for, the Rights Shares by ordinary mail at their own risk. You will receive one share certificate for all the Rights Shares issued to you. Refund cheques in respect of wholly or partially unsuccessful applications for excess Rights Shares (if any) are expected to be posted on or around Wednesday, 17 February 2016 by ordinary mail to the applicants at their own risk. EXCESS RIGHTS SHARES

The Qualifying Shareholders may apply, by way of excess application, for (1) Rights Shares representing unsold fractional entitlements, (2) any Rights Shares provisionally allotted but not accepted by Qualifying Shareholders or otherwise subscribed for by renouncees or transferees of nil-paid Rights Shares and (3) any Rights Shares representing any unsold entitlements of the Non-Qualifying Shareholders (if any). Application for excess Rights Shares may be made by completing an EAF and lodging it with a separate remittance for the excess Rights Shares being applied for with the Registrar, Tricor Tengis Limited at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong no later than 4:00 p.m. on Monday, 1 February 2016 or such later time and/or date as may be agreed between the Company and the Underwriter. All remittances must be made in Hong Kong dollars and must be made by cheques drawn on or cashier’s orders issued by a bank account in Hong Kong and made payable to “Lai Sun Development Company Limited — Excess Application Account” and crossed “Account Payee Only”. Subject to the availability of excess Rights Shares, the Directors will allocate the excess Rights Shares at their discretion on a fair and equitable basis and, to the extent practicable, on pro-rata basis to the excess Rights Shares being applied for under each application. However, no preference will be given to topping-up odd lots to whole board lots. Shareholders who have been offered odd lots of the Rights Shares should note there is no guarantee that such odd lots of the Rights Shares will be topped up to create whole board lots pursuant to applications for excess Rights Shares. Beneficial Owners whose Shares are held by a Registered Owner, or which are held in CCASS, should note that the Registered Owner (including CCASS) is regarded as a single Shareholder according to the register of members of the Company. Accordingly, the Shareholders should note that the aforesaid arrangement for the allocation of the excess Rights Shares will not be extended to the beneficial owners individually.

FRACTIONAL ENTITLEMENTS

The Company will not provisionally allot and will not accept application for fractions of Rights Shares in their nil-paid or fully-paid forms. No odd lot matching services will be provided. All fractions of the Rights Shares will be aggregated (and rounded down to the nearest whole number). The aggregate of fractions of the Rights Shares, in nil-paid form, will be provisionally allotted to the Underwriter or such other person as may be nominated by the Company, and will be sold in the market and the proceeds will be retained by the Company for its own benefit, if a premium (net of expenses) can be obtained. Any unsold fractions of the Rights Shares will be made available for excess applications on EAFs by Qualifying Shareholders.

DISTRIBUTION OF THIS PAL AND THE OTHER PROSPECTUS DOCUMENTS

This PAL shall only be sent to the Qualifying Shareholders.

Distribution of this PAL and the other Prospectus Documents into jurisdictions other than Hong Kong may be restricted by law. Persons into whose possession this PAL or any of the other Prospectus Documents come (including, without limitation, agents, custodians, nominees and trustees) should inform themselves of and observe any such restrictions. Any failure to comply with those restrictions may constitute a violation of the securities laws or other laws or regulations of any such jurisdiction. Any Shareholder or Beneficial Owner who is in any doubt as to his/her/its position should consult an appropriate professional adviser without delay. In particular, subject to certain exceptions as determined by the Company, this PAL and the other Prospectus Documents should not be distributed, forwarded to or transmitted in, into or from the Specified Territory. The Prospectus Documents will not be registered under the applicable securities legislation of any jurisdiction other than Hong Kong.

QUALIFYING SHAREHOLDERS AND NON-QUALIFYING SHAREHOLDERS

To qualify for the Rights Issue and to accept the Rights Shares provisionally allotted under the PAL, a Shareholder must have been registered as a member of the Company as at 5:00 p.m. on Friday, 15 January 2016 and not be a Non-Qualifying Shareholder.

The Non-Qualifying Shareholders are Shareholders resident in Japan or Canada (except for those Shareholders with addresses in Canada who fulfil, to the satisfaction of the Company, the relevant requirements of an “accredited investor” as defined in section 1.1 of National Instrument 45-106 Prospectus Exemptions , and complete

and return the “Canadian-Resident Investor Representation Letter” (the Form of which is included at Appendix V of the Prospectus) to the Company by the deadline set out therein. The representations therein include that the purchaser is an “accredited investor” as defined in section 1.1 of National Instrument 45-106 Prospectus Exemptions , and, if required, that the purchaser has also delivered to the Company an executed “Risk Acknowledgement Form” in the form set out in the “Canadian-Resident Investor Representation Letter”) or the US (the “Specified Territory”), except that a Shareholder resident in the Specified Territory who was registered as a member of the Company on the Record Date and who fulfils the requirements of an applicable exemption described in the section below headed “Limited category of persons in the Specified Territory who may be able to take up their rights under the Rights Issue” is regarded as a Qualifying Shareholder. Arrangements will be made for the Rights Shares which would otherwise have been available to be taken up by Non-Qualifying Shareholders whose addresses as shown in the register of members of the Company at 5:00 p.m. on Friday, 15 January 2016 are in the Specified Territory, to be sold in the market in their nil-paid form as soon as practicable after dealings in the Rights Shares in their nil-paid form commence and before dealings in the Rights Shares in their nil-paid form end, if a premium (net of expenses) can be obtained. The proceeds of such sale, less expenses and stamp duty, of more than HK$100, will be paid to the Non-Qualifying Shareholders pro-rata to their shareholdings held as at 5:00 p.m. on Friday, 15 January 2016 . The Company will retain individual amounts of HK$100 or less for its own benefit. Any unsold entitlement of such Non-Qualifying Shareholders to the Rights Shares, together with any Rights Shares provisionally allotted but not accepted by the Qualifying Shareholders or otherwise subscribed for by transferees of nil-paid Rights Shares and any unsold fractions of the Rights Shares (see the section headed “Fractional Entitlements” above) will be made available for excess applications on EAFs by Qualifying Shareholders. In respect of any Beneficial Owner who is resident in a Specified Territory who does not fulfil the Relevant Requirements to the satisfaction of the Company, and who holds his/her/its interest in Shares through a Registered Owner (and may include such Beneficial Owners holding interests in Shares through CCASS) having an address shown in the register of members of the Company at 5:00 p.m. on the Record Date which is not in the Specified Territory (a “Non-Qualifying Beneficial Owner”), the nil-paid Rights Shares which would otherwise have been available to be taken up by that Non-Qualifying Beneficial Owner will not be sold in the market and the relevant Non-Qualifying Beneficial Owner will not receive the proceeds of any such sale.

Receipt of this PAL and/or any other Prospectus Document does not and will not constitute an offer in those jurisdictions in which it would be illegal to make an offer and, in those circumstances, this PAL and/or the other Prospectus Documents must be treated as sent for information purposes only and should not be copied or redistributed. Persons (including, without limitation, agents, custodians, nominees and trustees) who receive a copy of this PAL and/or any other Prospectus Document should not, in connection with the Rights Issue, distribute or send the same in, into or from, or transfer nil-paid Rights Shares to any person in, into or from the Specified Territory. If a PAL or EAF is received by any person in any such territory, or by his/her agent or nominee, he/she must not seek to take up the rights referred to in the PAL or EAF or transfer the PAL (or apply for any excess Rights Shares under the EAF) unless the Company and the Underwriter determine that such actions would not violate applicable legal or regulatory requirements. Any person (including, without limitation, agents, custodians, nominees and trustees) who does forward this PAL or any other Prospectus Document in, into or from the Specified Territory (whether under a contractual or legal obligation or otherwise) should draw the recipient’s attention to the contents of this section.

Notwithstanding any other provision in this PAL or any other Prospectus Document, the Company and the Underwriter reserve the right to permit any Shareholder to take up his/her/its rights if the Company and the Underwriter, in their absolute discretion, are satisfied that the transaction in question would not result in a contravention of any registration or other legal requirement in any jurisdiction.

LIMITED CATEGORY OF PERSONS IN THE SPECIFIED TERRITORY WHO MAY BE ABLE TO TAKE UP THEIR RIGHTS UNDER THE RIGHTS ISSUE

The category of persons in the Specified Territory may be able to take up their rights under the Rights Issue is Shareholders or Beneficial Owners in the US whom the Company believes reasonably are QIBs may be able to purchase Rights Shares being offered in the Rights Issue (pursuant to the exercise of rights granted under the Rights Issue) by way of a private placement pursuant to an applicable exemption from registration under the US Securities Act, provided that they provide a signed investor representation letter in the form set out in Appendix IV of the Prospectus, which will also contain restrictions and procedures regarding the transfer of Rights Shares, in accordance with the requirements of the Prospectus.

The Company and the Underwriter reserve the absolute discretion in determining whether to allow such participation as well as the identity of the persons who may be allowed to do so.

REPRESENTATIONS AND WARRANTIES

By completing, signing and submitting this PAL, each subscriber of Rights Shares being offered and sold outside the US hereby represents and warrants to the Company and the Underwriter and to any person acting on their behalf, unless in their sole discretion the Company and the Underwriter waive such requirement that:

• he/she/it was a Shareholder as at 5:00 p.m. on Friday, 15 January 2016 , or he/she/it lawfully acquired or may lawfully acquire rights, directly or indirectly, from such a person;

• he/she/it may lawfully be offered, take up, exercise, obtain, subscribe for and receive the nil-paid Rights Shares and/or the fully-paid Rights Shares in the jurisdiction in which he/she/it resides or is currently located;

• • subject to certain exceptions, he/she/it is not resident or located in the US; • subject to certain exceptions, he/she/it is not accepting an offer to acquire, take up or exercise nil-paid Rights Shares or the fully-paid Rights Shares on a non-discretionary basis for a person who is resident or located in the US or otherwise a “US person” (as defined in Regulation S under the US Securities Act) at the time the instruction to accept was given;

• he/she/it is acquiring the nil-paid Right Shares and/or the fully-paid Right Shares in an “offshore transaction” as defined in Regulation S under the US Securities Act;

• • he/she/it has not been offered the Rights Shares by means of any “directed selling effort ts” as defined in Regulation S under the US Securities Act; • he/she/it is not acquiring nil-paid Rights Shares or the fully-paid Rights Shares with a view to the offer, sale, transfer, delivery or distribution, directly or indirectly, of such nil-paid Rights Shares or the fully-paid Rights Shares into the US; and • he/she/it understands that neither the nil-paid Rights Shares nor the fully-paid Rights Shares have been or will be registered under the US Securities Act or with any securities regulatory authority of any state, territory, or possession of the US and the nil-paid Rights Shares or the fully-paid Rights Shares are being distributed and offered outside the US in reliance on Regulation S under the US Securities Act. Consequently he/she/it understands the nil-paid Rights Shares or the fully-paid Rights Shares may not be offered, sold, pledged or otherwise transferred in or into the US, except in reliance on an exemption from, or in transactions not subject to, the registration requirements of the US Securities Act.

Any Shareholder (or any transferees of nil-paid Rights Shares) accepting and/or transferring this PAL or requesting registration of the Rights Shares comprised therein represents and warrants to the Company that, except where proof has been provided to the Company’s satisfaction that such person’s use of this PAL will not result in the contravention of any applicable legal requirement in any jurisdiction: (i) such person is not accepting and/or transferring this PAL, or requesting registration of the relevant nil-paid Rights Shares or the fully-paid Rights Shares from within the Specified Territory; (ii) such person is not in the Specified Territory or in any territory in which it is otherwise unlawful to make or accept an offer to acquire the Rights Shares or to use this PAL in any manner in which such person has used or will use it; (iii) such person is not acting on a non-discretionary basis for a person resident in the Specified Territory at the time the instruction to accept or transfer was given; and (iv) such person is not acquiring the Rights Shares with a view to the offer, sale, resale, transfer, delivery or distribution, directly or indirectly, of any of the Rights Shares into the Specified Territory. The Company may treat as invalid any acceptance or purported acceptance of the allotment of Rights Shares comprised in, or any transfer or purported transfer of, this PAL if it: (a) appears to the Company to have been executed in, or despatched from the Specified Territory and the acceptance may involve a breach of the laws of the Specified Territory or the acceptance is otherwise in a manner which may involve a breach of the laws of any jurisdiction or if it or its agents believe the same may violate any applicable legal or regulatory requirement; (b) provides an address in the Specified Territory for delivery of definitive share certificates for Rights Shares and such delivery would be unlawful or provides an address for delivery of definitive share certificates in any other jurisdiction outside Hong Kong in which it would be unlawful to deliver such certificates; or (c) purports to exclude the representation and/or warranty required by the paragraph immediately above. For the avoidance of doubt, neither Hong Kong Securities Clearing Company Limited nor HKSCC Nominees Limited will give, or be subject to, any of the above representations and warranties.

GENERAL

Lodgment of this PAL with, where relevant, the form of transfer and nomination purporting to have been signed by the person(s) in whose favour this PAL has been issued, shall be conclusive evidence of the title of the party or par ties lodging it to deal with the same and to receive a split PAL and/or the share certificates for the Rights Shares. Further copies of the Prospectus are available at the Company’s Registrar, Tricor Tengis Limited, (telephone number: (852) 2980 1333), at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong.

All documents, including cheques for refund, will be sent by ordinary mail at the risk of the relevant applicants or other persons entitled thereto.

This PAL and all acceptances of the offer contained in it shall be governed by and construed in accordance with the laws of Hong Kong. Nil-paid rights are expected to be traded in board lots of 15,000 (as the Existing Shares are currently traded on the Stock Exchange in board lots of 15,000). References in this PAL to time are to Hong Kong time unless otherwise stated. By completing, signing and submitting this PAL, you agree to disclose to the Company and/or its Registrar and their respective advisers and agents personal data and any information which they require about you or the person(s) for whose benefit you have made the acceptance of the provisional allotment of Rights Shares. The Personal Data (Privacy) Ordinance provides the holders of securities with rights to ascertain whether the Company or its Registrar hold their personal data, to obtain a copy of that data, and to correct any data that is inaccurate. In accordance with the Personal Data (Privacy) Ordinance, the Company and its Registrar have the right to charge a reasonable fee for the processing of any data access request. All requests for access to data or correction of data or for information regarding policies and practices and the kinds of data held should be addressed to the Company, at its registered office at 11/F, Lai Sun Commercial Centre, 680 Cheung Sha Wan Road, Kowloon, Hong Kong or as notified from time to time in accordance with applicable law, for the attention of the Company Secretary or (as the case may be) the Registrar.

By order of the Board Lai Sun Development Company Limited Chew Fook Aun Executive Director and Deputy Chairman

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敬啟者：

緒言

根據本暫定配額通知書及供股章程所載之條款及條件，並在本公司組織章程細則的規限下，董事已暫定配發本暫定配額通知書首頁所載數目之本公司供股股份予 閣下，基準為於二零一六年一月十五日（星期五）下午五時正以 閣下名義在本公司股東名冊上登記每兩股本公司現有股份可獲配發一股供股股份。 閣下於該日持 有之現有股份列於本暫定配額通知書首頁甲欄，而所獲暫定配發之供股股份數目則列於本暫定配額通知書首頁乙欄。除文義另有所指外，於供股章程中已界定之詞彙與本函件所採用者具相同涵義。 閣下有權不遲於二零一六年二月一日（星期一）下午四時正根據下文所載之方式按每股供股股份 0.092 港元之價格（須於接納時列作繳足）收購暫定配發予 閣下之供股股份。

在下文「合資格股東及不合資格股東」一節的規限下， 閣下可接納據此暫定配發予 閣下之全部或任何數目的供股股份，或出售 閣下之全部或任何有關權利。 閣下如欲只接納 閣下之部份暫定配額並將餘額轉讓，或擬將 閣下之暫定配額轉讓予超過一人，則 閣下應參閱下文「分拆」一節內之指示。 閣下如欲轉讓 閣 下之全部暫定配額，則 閣下應參閱下文「轉讓」一節內之指示。 供股須待包銷協議成為無條件及並無被終止後，方可作實。倘若供股之條件並無獲達成，則供股將不會進行。

供股股份

供股股份於配發、發行及繳足後，於各方面將與當時已發行之股份享有同等權益，故該等繳足股款供股股份持有人將有權收取可能於發行及配發繳足股款供股股份之日以後宣派、作出或派付的所有未來股息及分派。

待未繳股款及繳足股款供股股份獲准在聯交所上市及買賣並符合香港結算之股份收納規定後，未繳股款及繳足股款供股股份將獲香港結算接納為合資格證券，可未繳股款及繳足股款供股股份於聯交所開始買賣日期或香港結算決定之其他日期起，在中央結算系統記存、結算及交收。聯交所參與者之間於任何交易日之交易須於 其後第二個交收日在中央結算系統內進行交收。中央結算系統進行之一切活動均須依照不時生效之中央結算系統一般規則及中央結算系統運作程序進行。

接納手續

香港以外的任何人（包括（但不限於）代理、保管人、代名人及受託人）如欲接納彼等於供股之權利，須使自己信納其已全面遵守任何相關地區之適用法律，包括取得任何政府或其他同意、符合任何其他所需之正式手續，以及繳納相關地區之任何發行、轉讓或其他稅項。登記地址位於指明地區或代擁有有關地址者持有股份之股 東，敬請注意下文「合資格股東及不合資格股東」一節。 合資格股東如欲全數接納其供股股份暫定配額，須將整份暫定配額通知書連同本暫定配額通知書首頁丙欄所示須於接納供股股份時應付之全數股款，於不遲於二零一六年二月一日（星期一）下午四時正交回本公司之股份登記處卓佳登捷時有限公司，地址為香港皇后大道東一百八十三號合和中心二十二樓。所有股款須以港元繳付，並以在香港持牌銀行戶口開出之支票或以香港持牌銀行發出之銀行本票支付。所有支票或銀行本票均須註明抬頭人為「Lai Sun Development Company Limited — Rights Issue Account」，並以「只准入抬頭人賬戶」劃線方式開出。繳付股款後，即表示已按本暫定配額通知書及供股章程所載之條款，及在本公司組織章程細則之 規限下接納暫定配額。本公司將不另發股款收據。所有有關本暫定配額通知書之查詢均須寄交上述地址之本公司股份登記處。 謹請注意，除非由原承配人或以本身名義經已獲有效轉讓有關權利之任何人士填妥之暫定配額通知書連同本暫定配額通知書首頁丙欄所示之應繳股款已按上文所述於二零一六年二月一日（星期一）下午四時正前送達，否則 閣下之暫定配額及一切據此而獲得之權利將視作已遭放棄及將被註銷。本公司可全權酌情將並未遵照有 關指示填妥之暫定配額通知書視作有效，且對交回之人士或代表其交回之人士具有約束力。 分拆

閣下如欲只接納 閣下之部份暫定配額，或轉讓據此暫定配發予 閣下之認購供股股份之部份權利，或向超過一名人士轉讓 閣下全部或部份權利，則 閣下須將此份原暫定配額通知書連同清楚註明所需要的分拆暫定配額通知書數目及每份分拆暫定配額通知書包含的未繳股款供股股份數目（兩者合共應相等於本暫定配額通知書 首頁乙欄所載列暫定配發予 閣下的供股股份數目）的信件，須在不遲於二零一六年一月二十二日（星期五）下午四時三十分前交回及送遞本公司之股份登記處卓佳登捷時有限公司，地址為香港皇后大道東一百八十三號合和中心二十二樓，以供註銷，而本公司登記處將會註銷此份原暫定配額通知書，並按所需數目發出新暫定配額 通知書。新暫定配額通知書將可於交回此份原暫定配額通知書後第二個營業日上午九時正後於本公司股份登記處卓佳登捷時有限公司，地址為香港皇后大道東一百八十三號合和中心二十二樓領取。 務請注意， 閣下轉讓有關供股股份之認購權予承讓人時須繳付香港印花稅，而承讓人於接納有關權利時亦須繳付香港印花稅。本公司或會全權酌情將並未遵照有關指示填妥之暫定配額通知書視作有效，且對交回之人士或代表其交回之人士具有約束力。

轉讓 閣下如欲轉讓 閣下之全部暫定配額予其他人士， 閣下應填妥及簽署本暫定配額通知書內之「轉讓及提名表格」（表格乙），並將填妥及簽妥之暫定配額通知書轉交 閣下之暫定配額的承讓人或經手轉讓的人士。承讓人其後須填妥及簽署本暫定配額通知書內之「登記申請表格」（表格丙），並將整份暫定配額通知書連同接納時應付 全部款項的股款，在不遲於二零一六年二月一日（星期一）下午四時正前送交本公司之股份登記處卓佳登捷時有限公司（地址見上文），以進行轉讓。

務請注意， 閣下轉讓有關供股股份之認購權予承讓人時須繳付香港印花稅，而承讓人於接納有關權利時亦須繳付香港印花稅。本公司或會全權酌情將並未遵照有關指示填妥之暫定配額通知書視作有效，且對交回之人士或代表其交回之人士具有約束力。 本公司及包銷商保留權利拒絕受理以任何人士為受益人的任何轉讓登記，如本公司或包銷商就此相信該轉讓或會違反適用法例或監管規定。

惡劣天氣之影響

倘若發生下列情況，接納供股股份及繳付股款之最後時間將不會於二零一六年二月一日（星期一）下午四時正生效：(i) 倘若 8 號或以上熱帶氣旋警告信號或黑色暴雨警告信號於二零一六年二月一日（星期一）中午十二時正前之任何本地時間在香港生效，並於二零一六年二月一日（星期一）中午十二時正後不再生效。接納供股股份 及繳付股款之最後時間均將延至同一個營業日下午五時正；或 (ii) 倘若 8 號或以上熱帶氣旋警告信號或黑色暴雨警告信號於二零一六年二月一日（星期一）中午十二時正至下午四時正之間在香港生效。接納供股股份及繳付股款之最後時間均將會重新定於下一個營業日下午四時正，而該營業日上午九時正至下午四時正之間之任何 時間並無該等警告信號生效。倘若接納供股股份及繳付股款之最後時間並非二零一六年二月一日（星期一），本暫定配額通知書內所述之日期可能會受到影響。預期時間表如有任何變動，本公司將在切實可行情況下儘快另行刊發公告通知股東。

終止包銷協議

敬請注意，包銷協議授予包銷商權利，倘若包銷商真誠合理認為出現以下事項，可隨時於交收日期下午四時正前向本公司發出書面通知終止包銷協議：(a) 供股之成功將受到以下各項之重大不利影響：(i) 頒佈任何新法律或規例，或現有法律或規例（或其司法詮釋）之任何變動，或發生任何其他性質之事件而可能對本集團之整體 業務或財務或貿易狀況或前景造成重大不利影響；或 (ii) 發生任何地方、全國或國際性政治、軍事、金融、經濟、貨幣或其他性質（不論與前述各項性質相同與否）之事件或變動，或帶有任何地方、國家或國際性敵對行為或武裝衝突爆發或升級之性質之事件或變動，或影響地方證券市場之事件或變動（不論其是否屬於包銷協議 日期之前及╱或之後發生或持續存在之一系列事件或變動之一部份），或發生任何多種情況而對本集團整體業務或財務或貿易狀況或前景造成重大不利影響，或對供股之成功造成重大不利影響，或基於其他理由令本公司或包銷商繼續進行供股屬不宜或不智；或 (iii) 任何不可抗力、戰爭、暴亂、公眾騷亂、內亂、火災、水災、 爆炸、疫情、恐怖主義活動、罷工或封鎖，而包銷商全權認為將對本集團整體之業務或財務或貿易狀況或前景造成重大不利影響；或 (b) 香港或其他地方之市況或多種情況發生任何重大不利變動（包括但不限於暫停或嚴格限制證券買賣），對供股之成功造成重大不利影響。

支票及銀行本票 所有支票及銀行本票於收訖後隨即過戶，而有關款項之全部利息將撥歸本公司所有。任何暫定配額通知書所隨附之支票或銀行本票未能於首次過戶時兌現，有關通知書有可能被拒絕受理，在此情況下，該暫定配額通知書下的暫定配額及所有權利將被視為已遭拒 絕及將予以註銷。 供股之股票及退款支票 待本供股章程內「董事會函件 — 供股及包銷協議之條件」一節所載供股之條件獲達成後，預期所有繳足股款供股股份之股票將於二零一六年二月十七日（星期三）或前後以平郵方式寄發予已接納及（如適用）申請認購供股股份並繳交股款之合資格股東，郵誤風險概由彼等自行承擔。 閣下將就所有獲發之供股股份收取一張股票。 預期全部或部份不獲接納額外供股股份申請（如有）之退款支票將於二零一六年二月十七日（星期三）或前後以平郵方式寄發予申請人，郵誤風險概由彼等自行承擔。 額外供股股份

合資格股東可以額外申請之方式申請 (1) 認購有關未出售之零碎配額之供股股份、(2) 暫定配發但未獲合資格股東接納或另行獲未繳股款供股股份接權人或承讓人認購之任何供股股份，及 (3) 不合資格股東（如有）之任何未售配額有關的任何供股股份。

申請認購額外供股股份須填妥額外申請表格，並於二零一六年二月一日（星期一）下午四時正或本公司與包銷商可能協定之較後時間及╱或日期前，連同所申購之額外供股股份另行支付之股款一併提交予股份登記處卓佳登捷時有限公司，地址為香港皇后大道東一百八十三號合和中心二十二樓。所有股款必須以港元由香港銀行之銀行賬戶開立之支票或銀行本票支付，以「只准入抬頭人賬戶」劃線方式註明抬頭人為「Lai Sun Development Company Limited — Excess Application Account」。視乎可供申請之額外供股股份數目，董事將酌情按公平合理原則分配額外供股股份，而在可行情況下會就各申請按比例分配所申請之額外供股股份。然而，不會優 先補足零碎供股股份至完整買賣單位。獲配零碎供股股份之股東應注意，不保證會根據額外供股股份申請將有關零碎供股股份補足至完整買賣單位。

由登記擁有人或中央結算系統持有股份之實益擁有人務請注意，董事會將根據本公司之股東名冊視登記擁有人（包括中央結算系統）為單一股東。因此，股東務須注意，上述配發額外供股股份之安排將不會個別適用於實益擁有人。

零碎配額 本公司將不會暫定配發未繳股款或繳足股款零碎供股股份，亦不接受有關申請。本公司將不會提供零碎股份對盤服務。所有零碎供股股份將被合併（向下調整至最接近整數）。合併所得之全部未繳股款零碎供股股份將暫定配發予包銷商或本公司可能提名之其他人士，並將於市場出售，所得款項將由本公司保留，利益撥歸本公 司所有（如在扣除開支後可取得溢價）。

任何未出售之零碎供股股份將可供合資格股東以額外申請表格作出額外申請。

派發本暫定配額通知書及其他供股章程文件

本暫定配額通知書只可向合資格股東寄發。 派發本暫定配額通知書及供股章程文件至香港以外的司法權區可能受法律限制。擁有本暫定配額通知書或任何其他供股章程文件的人士（包括（但不限於）代理、保管人、代名人及受託人）須知悉並遵守任何有關限制。未能遵守該等限制可能構成違反任何有關司法權區的證券法例或其他法例或規例。任何股東或實益擁有人如對 其狀況有任何疑問，應儘快諮詢合適之專業顧問。尤其是，除本公司釐定的若干例外情況外，本暫定配額通知書及其他供股章程文件不應於指明地區派發、送交或送呈。 供股章程文件將不會根據香港以外任何司法權區之適用證券法例註冊。

合資格股東及不合資格股東

為符合資格參與供股及接納根據暫定配額通知書所暫定配發之供股股份，股東於二零一六年一月十五日（星期五）下午五時正須為本公司之登記股東，且並非不合資格股東。

不合資格股東指居於日本或加拿大（惟地址位於加拿大且符合按加拿大全國性法規 45-106供股章程豁免事項第 1.1 節所界定之「認可投資者」之有關規定並獲本公司信納之股東，以及填妥並於供股章程附錄五規定之截止時間前向本公司交回「加拿大居民投資者之聲明書」（其表格載於本供股章程附錄五）（其中之聲明包括：買方為 「認可投資者」（定義見加拿大全國性法規 45-106 第 1.1 節供股章程豁免事項））及（如需要）買方亦已向本公司提交加拿大居民投資者之聲明書內所載形式之已簽署「風險承認表格」）的該等股東除外）或美國（「指明地區」）之股東，除非居於指明地區之股東於記錄日期已登記為本公司股東，並且符合下文「指明地區內或許可接納其於 供股中之權利的有限類別人士」一節內所述之適用豁免規定而被視為合資格股東，則作別論。

有關原可供於二零一六年一月十五日（星期五）下午五時正在本公司之股東名冊所示之地址位於指明地區之不合資格股東接納之供股股份，如在扣除開支後可獲得溢價，則本公司將會作出安排，於供股股份以未繳股款形式開始買賣後，及於供股股份以未繳股款形式買賣結束前，盡快以未繳股款方式在市場上出售。有關出售所 得款項（於扣除有關開支及印花稅後）如超逾 100 港元，本公司將根據彼等於二零一六年一月十五日（星期五）下午五時正之持股量按比例支付予不合資格股東。至於 100 港元或不足 100 港元之個別款項將由本公司保留。該等不合資格股東之任何未售配額有關的任何供股股份，連同暫定配發但未獲合資格股東接納或另行獲未繳 股款供股股份承讓人認購之任何供股股份以及有關未出售之零碎配額之供股股份（見上文「零碎配額」一節），將可供合資格股東以額外申請表格額外申請。有關居於指明地區而未符合有關規定而本公司亦未感到滿意之任何實益擁有人，以及其透過登記擁有人於股份中持有其權益（及可能包括透過中央結算系統持有股份權益之 有關實益擁有人）而有關登記擁有人於記錄日期下午五時正在本公司股東名冊所示之地址並非位於指明地區的任何實益擁有人（「不合資格實益擁有人」），有關原可供有關不合資格實益擁有人接納之未繳股款供股股份將不會在市場上出售，而有關不合資格實益擁有人將不會收到任何有關出售之所得款項。 收到本暫定配額通知書及╱或任何其他供股章程文件並不（亦將不會）構成在提呈要約屬違法之該等司法權區提呈要約，在該等情況下，本暫定配額通知書及╱或其他供股章程文件須視為僅供參照處理，亦不應複製或轉發。任何人（包括（但不限於）代理、保管人、代名人及受託人）如收到本暫定配額通知書及╱或任何其他供股 章程文件，不應（就供股而言）將其在、向或由指明地區派發或寄發或在、向或由指明地區向任何人士轉讓未繳股款供股股份。倘若任何人或其代理或代名人在任何有關地區收到暫定配額通知書或額外申請表格，其不可尋求接納暫定配額通知書或額外申請表格內所述之權利或轉讓暫定配額通知書（或根據額外申請表格申請任 何額外供股股份），除非本公司及包銷商決定，有關行動不會導致違反適用法律或規管規定，則作別論。任何人（包括（但不限於）代理、保管人、代名人及受託人）如將本暫定配額通知書或任何其他供股章程文件在、向或由指明地區轉交（無論根據合約或法律責任或其他理由），應促使收件人注意本節內容。 儘管本暫定配額通知書或任何其他供股章程文件有任何其他規定，本公司及包銷商保留權利容許任何股東接納其權利，倘若本公司及包銷商按其絕對酌情決定信納有關交易將不會導致違反任何司法權區之任何註冊或其他法律規定。

指明地區內或許可接納其於供股中之權利的有限類別人士 指明地區內或許可接納其於供股中之權利的類別人士為位於美國而本公司合理相信為合資格機構買方之股東或實益擁有人或許可根據美國證券法有關豁免註冊之適用規定以私人配售方式購買根據供股提呈之供股股份（因行使根據供股授予之權利），惟彼等須根據本供股章程之規定，以本供股章程附錄四所載之形式提供簽妥之 投資者聲明書，當中亦載有關於轉讓供股股份之限制及手續。

本公司及包銷商保留權利可全權酌情決定是否容許有關參與以及可能容許任何參與者之身份。

陳述及保證

倘若填妥、簽妥及交回本暫定配額通知書，在美國以外提呈及出售之供股股份的每位認購人即據此向本公司及包銷商以及代其行事之任何人士作出以下陳述及保證，除非本公司及包銷商按其全權酌情決定豁免有關規定：

• 彼於二零一六年一月十五日（星期五）下午五時正為股東，或彼已依法或可依法從有關人士取得直接或間接權利；

• 彼可合法在其居住或目前所處之司法權區獲提呈、接納、行使、取得、認購及收取未繳股款供股股份及╱或繳足股款供股股份；

• 在若干例外情況的規限下，彼並非居於或處於美國；

• 在若干例外情況的規限下，彼並非按非酌情基準為給予接納指示時居於或處於美國或為「美國人」（按美國證券法規例 S 的定義）的人接納收購、承購或行使未繳股款供股股份或繳足股款供股股份之建議；

• • 彼乃根據美國證券法規例 S 所界定之「離岸交易」中收購未繳股款供股股份及╱或繳足股款供股股份； • 彼並非以美國證券法規例 S 所界定之任何「定向銷售行動」獲提呈股份；

• 彼收購未繳股款供股股份或繳足股款供股股份之目的並非直接或間接向美國提呈、出售、轉讓、交付或分發未繳股款供股股份或繳足股款供股股份；及

• 彼明白，未繳股款供股股份或繳足股款供股股份均並無（亦將不會）根據美國證券法或在美國任何州、地區或領地之任何證券監管當局註冊，而未繳股款供股股份或繳足股款供股股份乃依據美國證券法規例 S 在美國以外分發及提呈。因此，彼明白，未繳股款供股股份或繳足股款供股股份不可在或向美國提呈、出售、 質押或另行轉讓，惟依據美國證券法註冊規定之豁免或在無須遵守美國證券法註冊規定之交易除外。

任何股東（或未繳股款供股股份之任何承讓人）接納及╱或轉讓本暫定配額通知書或要求登記暫定配額通知書內的供股股份，即已向本公司聲明及保證，除非已提供令本公司信納的證據，證明該人士使用本暫定配額通知書將不會違反任何司法權區的任何適用法律規定：(i) 該人士並非身在指明地區境內接納及╱或轉讓本暫定配 額通知書或要求登記有關的未繳股款供股股份或繳足股款供股股份；(ii) 該人士並非身在指明地區或作出或接納要約以認購供股股份或該人士曾經或將以任何方式使用本暫定配額通知書乃屬違法的任何地區；(iii) 於作出接納或轉讓指示時該人士並非以非全權委託形式為居於指明地區的人士行事；及 (iv) 該人士並非為直接或間接 提呈、出售、轉售、轉讓、交付或分派任何供股股份至指明地區而認購該等供股股份。

倘出現下列情況，本公司可視任何接納或聲稱接納本暫定配額通知書內的供股股份的配額或轉讓或聲稱轉讓本暫定配額通知書為無效：(a) 本公司認為其為於指明地區簽立或寄發及接納可能涉及違反指明地區之法律或接納是可能違反任何司法權區的法例，或倘本公司或其代理人相信，二者可能違反任何適用法律或監管規定； (b) 就交付供股股份正式股票所提供的地址位於指明地區而有關交付屬違法，或就交付供股股份正式股票所提供的地址位於香港以外且交付該等股票乃屬違法的任何其他司法權區；或 (c) 聲稱拒絕上一 段所規定的陳述及╱或保證。 為免生疑問，香港中央結算有限公司及香港中央結算（代理人）有限公司概不會作出上述陳述及保證，亦不受上述陳述及保證所規限。

一般事項

• 本暫定配額通知書連同（如適用）由獲發本暫定配額通知書人士所簽署之轉讓及提名表格一經交回，即確證交回之人士（一名或多名）有權處理暫定配額通知書及收取分拆之暫定配額通知書及╱或供股股份之股票。如需要額外之供股章程，可於本公司之股份登記處卓佳登捷時有限公司（地址為香港皇后大道東一百八十三號合和 中心二十二樓）（電話號碼：(852) 2980 1333）索取。

• 所有文件（包括退款支票）將以平郵方式寄予有關申請人或其他應得之人士，郵誤風險概由收件人自行承擔。

本暫定配額通知書及所有接納其中所載之要約均須受香港法例規限，並按其詮釋。預期未繳股款權利將以每手 15,000 股為買賣單位（因現有股份目前在聯交所之每手買賣單位為 15,000 股）。除另有說明者外，本暫定配額通知書內所提及之時間均為香港時間。

倘若填妥、簽署及交回本暫定配額通知書， 閣下同意向本公司及╱或其股份登記處及彼等各自之顧問及代理披露個人資料及彼等所需而有關 閣下或 閣下為其利益而接納暫定配發之供股股份的人士之任何資料。《個人資料（私隱）條例》給予證券持有人權利可確定本公司或其股份登記處是否持有其個人資料，索取有關資料 之副本，以及更正任何不準確之資料。根據《個人資料（私隱）條例》，本公司及其股份登記處有權就處理任何查閱資料之要求收取合理費用。有關查閱資料或更正資料或有關政策及慣例以及持有資料種類之資料的所有要求，應寄往本公司之註冊辦事處（地址為香港九龍長沙灣道六百八十號麗新商業中心十一樓）或根據適用法律 不時通知之地點並以公司秘書為收件人，或（視屬何情況而定）股份登記處。

此致

列位合資格股東 台照

承董事會命 麗新發展有限公司 執行董事兼副主席 周福安 謹啟

二零一六年一月十八日

IN THE EVENT OF TRANSFER OF RIGHT(S) TO SUBSCRIBE FOR RIGHTS SHARE(S), AD VALOREM STAMP DUTY IS PAYABLE ON EACH SALE AND EACH PURCHASE. A GIFT OR A TRANSFER OF BENEFICIAL INTEREST OTHER THAN BY WAY OF SALE IS ALSO LIABLE TO AD VALOREM STAMP DUTY. EVIDENCE OF PAYMENT OF AD VALOREM STAMP DUTY WILL BE REQUIRED BEFORE REGISTRATION OF ANY TRANSFER OF THE ENTITLEMENT(S) TO THE RIGHTS SHARE(S) REPRESENTED BY THIS DOCUMENT. 如轉讓可認購供股股份的認購權，每項買賣均須繳付從價印花稅。除以出售形式外，饋贈或轉讓實益擁有的權益亦須繳付從價印花稅。在登記轉讓本文件代表之供股股份配額之前，須出示 已繳付從價印花稅的證明。

Form B FORM OF TRANSFER AND NOMINATION 表格乙

轉讓及提名表格

(To be completed and signed only by the Qualifying Shareholder(s) who wish(es) to transfer all of his/her/their right(s) to subscribe for the Rights Share(s) comprised herein) （僅供有意轉讓其認購本暫定配額通知書所列供股股份之全部權利之合資格股東填寫及簽署）

To: The Directors

Lai Sun Development Company Limited

致： 麗新發展有限公司

列位董事 台照

Dear Sir/Madam,

I/We hereby transfer all of my/our rights to subscribe for the Rights Shares comprised in this PAL to the person(s) accepting the same and signing the registration application form (Form C) below.

敬啟者：

本人╱吾等謹將本暫定配額通知書所列本人╱吾等的供股股份認購權悉數轉讓予接受此權利並簽署下列登記申請表格（表格丙）的人士。

1. 1. 1. 1. Signature(s) (all joint Shareholders must sign) 簽署（所有聯名股東均須簽署） Date : , 2016 日期：二零一六年 月 日 Stamp duty is payable by the transferor(s) if this form is completed. 填妥此表格後，轉讓人須繳付印花稅。 Form C REGISTRATION APPLICATION FORM 表格丙 登記申請表格

2. (To be completed and signed only by the person(s) to whom the right(s) to subscribe for the Rights Share(s) have been transferred) （僅供承讓供股股份認購權的人士填寫及簽署）

To: The Directors

Lai Sun Development Company Limited (the “Company”)

• 致： 麗新發展有限公司（「貴公司」）

列位董事 台照

Dear Sirs/Madam,

I/We request you to register the number of Rights Shares mentioned in Box B of Form A in my/our name(s). I/We agree to accept the same on the terms embodied in this PAL and the Prospectus and subject to the articles of association of the Company.

敬啟者：

本人╱吾等謹請 閣下將表格甲乙欄所列的供股股份數目，登記於本人╱吾等名下。本人╱吾等同意按照本暫定配額通知書及供股章程所載條款，以及在 貴公司的組織章程細則規限下， 接納此等供股股份。

					Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號	Existing Shareholder(s) Please mark “X” in this box 現有股東請在本欄內填上「X」號
To be completed i		n block letters in ENG	LISH. Joint applicants should give one address only. For Chinese applicant, please provide your na 請用英文正楷填寫。聯名申請人只須填報一個地址。華裔申請人須填寫中英文姓名。									me in both English and Chinese.
Name in English 英文姓名		Family name姓氏	Other name(s)名字		Name in Chinese 中文姓名
Name continuation and/or full name(s) of joint applicant(s) (if applicable) 姓名（續）及╱或聯名申請人 全名（如適用）
Address in English 英文地址
Occupation 職業					Tel. No. 電話號碼
			Dividend Instructio	ns股息指示
Name and address of bank 銀行名稱及地址					Ban							k Account no.銀行賬戶號碼
					BANK 銀行			BRANCH 分行				ACCOUNT 賬戶
1.		2	. 3	. 4								.

Signature(s) (all joint applicants must sign) 簽署（所有聯名申請人均須簽署）

, 2016 日期：二零一六年 月 日

Date : , 2016 日期：二零一六年 Ad valorem stamp duty is payable by the transferee(s) if this form is completed. 填妥此表格後，承讓人須繳付從價印花稅。