<SEC-DOCUMENT>0001104659-23-104048.txt : 20230927
<SEC-HEADER>0001104659-23-104048.hdr.sgml : 20230927
<ACCEPTANCE-DATETIME>20230927060929
ACCESSION NUMBER:		0001104659-23-104048
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230927
FILED AS OF DATE:		20230927
DATE AS OF CHANGE:		20230927

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KE Holdings Inc.
		CENTRAL INDEX KEY:			0001809587
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39436
		FILM NUMBER:		231281756

	BUSINESS ADDRESS:	
		STREET 1:		ORIENTAL ELECTRONIC TECHNOLOGY BUILDING
		STREET 2:		NO. 2 CHUANGYE ROAD, HAIDIAN DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100086
		BUSINESS PHONE:		861058104689

	MAIL ADDRESS:	
		STREET 1:		ORIENTAL ELECTRONIC TECHNOLOGY BUILDING
		STREET 2:		NO. 2 CHUANGYE ROAD, HAIDIAN DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100086
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2326952d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of September&nbsp;2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-39436</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>KE Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Name)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Oriental Electronic Technology Building,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>No.&nbsp;2 Chuangye Road, Haidian District,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Beijing 100086</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form&nbsp;20-F&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; width: 10%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;No.</B></FONT></TD>
<TD STYLE="width: 2%; font-size: 10pt; text-align: center">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 88%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: center"><A HREF="tm2326952d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD><A HREF="tm2326952d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Announcement&mdash;</FONT>Grant of Restricted Share Units</A></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>KE Holdings Inc.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">:</FONT></TD>
    <TD STYLE="width: 42%">
    <P STYLE="border-bottom: Black 0.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ XU Tao</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">XU Tao</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: </FONT>September&nbsp;27,
2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2326952d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font-size: 10pt; margin: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt"><B>Exhibit 99.1</B></P>

<P STYLE="font-size: 10pt; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0pt; color: #231f20"><I>Hong
Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,
make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in; color: #231f20"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #231f20"><I><IMG SRC="tm2326952d1_ex99-1img001.jpg" ALT=""></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>KE Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>&#35997; &#27580; &#25511;
 &#32929; &#26377; &#38480; &#20844; &#21496;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><I>(A company controlled through
weighted voting rights and incorporated in the Cayman Islands with limited liability)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>(Stock Code: 2423)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><FONT STYLE="font-size: 10pt"><B>GRANT
OF RESTRICTED SHARE UNITS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">The Company approved to grant
an aggregate of 58,482 RSUs (representing equal number of underlying Class&nbsp;A ordinary shares), comprising (i)&nbsp;30,975 RSUs to
Ms.&nbsp;Xiaohong Chen, an independent non-executive Director of the Company, (ii)&nbsp;13,275 RSUs to Mr.&nbsp;Hansong Zhu, an independent
non-executive Director of the Company, and (iii)&nbsp;14,232 RSUs to Mr.&nbsp;Jun Wu, an independent non-executive Director of the Company
(each a &ldquo;<B>Director Grant</B>&rdquo; and collectively, the &ldquo;<B>Director Grants</B>&rdquo;), on September&nbsp;26, 2023 pursuant
to the 2020 Share Incentive Plan. Such Director Grants will not be subject to the Shareholders&rsquo; approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Director Grants are subject to the terms and conditions of the 2020 Share Incentive Plan, and the director service agreement and award
agreement entered into between the Company and each of Ms.&nbsp;Xiaohong Chen, Mr.&nbsp;Hansong Zhu and Mr.&nbsp;Jun Wu. The principal
terms of the 2020 Share Incentive Plan were set out in the section headed &ldquo;Statutory and General Information &mdash; </FONT>The
Share Incentive Plans <FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash; </FONT>2020 Share Incentive Plan&rdquo; in Appendix
IV to the listing document of the Company dated May&nbsp;5, 2022 and the 2022 annual report of the Company dated April&nbsp;27, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">Details of the Director Grants
are set out below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-indent: -0.125in; padding-left: 0.125in; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date
of grant</B></FONT></TD>
    <TD STYLE="font-size: 10pt; width: 2%">&nbsp;</TD><TD STYLE="font-size: 10pt; width: 80%; text-align: justify">September&nbsp;26, 2023</TD>
</TR><TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><B>Total number of RSUs granted</B></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">58,482 RSUs, comprising 30,975 RSUs to Ms.&nbsp;Xiaohong Chen, 13,275 RSUs to Mr.&nbsp;Hansong
                   Zhu and 14,232 RSUs to Mr.&nbsp;Jun Wu</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><B>Purchase price of RSUs granted</B></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">Nil</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><B>Closing price of the Class&nbsp;A ordinary shares on the
date of grant</B></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">HK$38.00 per share</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 18%"><B>Vesting condition and periods</B></TD>
    <TD STYLE="font-size: 10pt; width: 2%">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify; width: 80%">Subject to the terms of the director service agreement
                                     and award agreement entered into between the Company and each of Ms.&nbsp;Xiaohong Chen, Mr.&nbsp;Hansong
                                     Zhu and Mr.&nbsp;Jun Wu and the 2020 Share Incentive Plan, (i)&nbsp;the RSUs granted to Ms.&nbsp;Xiaohong
                                     Chen and Mr.&nbsp;Hansong Zhu under the Director Grants shall fully vest on the first anniversary
                                     of the date of grant, and (ii)&nbsp;the RSUs granted to Mr.&nbsp;Jun Wu under the Director Grant
                                     shall fully vest at the end of six months after the date of grant.</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">The Compensation Committee considers a vesting period of less than 12 months for the
                   RSUs granted to Mr.&nbsp;Jun Wu to be appropriate because (i)&nbsp;such arrangement is in line with the remuneration
                   arrangement as set out in the one-year director service agreement entered into with Mr.&nbsp;Jun Wu before the date
                   of grant, which provides the annual remuneration package, including equity incentive, of the Director; and (ii)&nbsp;upon
                   the full vesting of the RSUs granted to Mr.&nbsp;Jun Wu under the Director Grant, he shall have been serving as an
                   independent non-executive Director for over 12 months since the date of the current effective director service agreement.</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Performance
targets</B></FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">The vesting of the RSUs under the Director Grants is not subject to any performance
                   targets. The Compensation Committee is of the view that it is not necessary to set performance targets for each of
                   the Director Grants because it (i)&nbsp;forms part of the remuneration package of such independent non-executive Directors;
                   (ii)&nbsp;is in line with the recommended best practice E.1.9 of Part&nbsp;2 of the Corporate Governance Code contained
                   in Appendix 14 to the Listing Rules, which recommends issuers not to grant equity-based remuneration with performance-related
                   elements to independent non-executive directors as this may lead to bias in their decision-making and compromise their
                   objectivity and independence; and (iii)&nbsp;is subject to clawback mechanisms as detailed below.</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0"></P>

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<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Clawback
mechanisms</B></FONT></TD>
    <TD STYLE="font-size: 10pt; width: 2%">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify; width: 80%">Pursuant to the terms of the Director Grants and the
                                     2020 Share Incentive Plan, if Grantee&rsquo;s termination of service is by reason of cause set out
                                     in the 2020 Share Incentive Plan, the Grantee&rsquo;s right to any vested and unvested RSUs shall
                                     terminate concurrently with his/her termination of services. Under such circumstances, the balance
                                     of the RSUs that have not vested shall lapse and be forfeited. For the vested RSUs, the Board or
                                     the Compensation Committee may in its discretion determine (acting fairly and reasonably) that Grantee
                                     should repay to the Company (whether by re-transfer of Shares (or withholding the transfer of Shares
                                     where such transfer has not occurred), payment of cash proceeds or deductions from or set offs against
                                     any amounts owed to the Grantee by any member of the Group) an amount equal to the benefit, calculated
                                     on an after-tax basis, received or to be received by the Grantee from such vesting, provided that
                                     the Board or the Compensation Committee may, at its discretion, determine that a lesser amount should
                                     be repaid.</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">Each of the Director Grants was
approved by the independent non-executive Directors (each excluding the independent non-executive Director who is the Grantee). Vesting
of the 58,482 RSUs granted under the Director Grants will be satisfied through utilizing the existing Class&nbsp;A ordinary shares registered
in the name of the depositary bank issued before the Listing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">The Listing Committee of the
Hong Kong Stock Exchange had granted approval for the listing of, and permission to deal in, the existing Class&nbsp;A ordinary shares
registered in the name of the depositary bank issued before the Listing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">The Director Grants would not
result in the options and awards granted and to be granted to the Grantees in the 12-month period up to and including the date of such
grant in aggregate to exceed 1% of the Shares in issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20"><B>CLASS&nbsp;A ORDINARY SHARES
AVAILABLE FOR FUTURE GRANT UNDER THE 2020 SHARE INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">According to the 2020 Share Incentive
Plan, the maximum aggregate number of Class&nbsp;A ordinary shares which may be further issued pursuant to all Awards under the 2020
Share Incentive Plan as at the date of the Listing shall be 253,246,913. As at the date of this announcement and following the Director
Grants, 205,396,052 Awards (representing equal number of underlying Class&nbsp;A ordinary shares) may be further granted under the 2020
Share Incentive Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">The amended 2020 Share Incentive
Plan took effective from May&nbsp;11, 2022 (the &ldquo;<B>Effective Date</B>&rdquo;) and will expire on the tenth anniversary of the
Effective Date (the &ldquo;<B>Expiration Date</B>&rdquo;) unless earlier terminated. Upon expiry of the 2020 Share Incentive Plan, any
Awards that have been granted and are outstanding as of the Expiration Date shall remain in force according to the terms of the 2020
Share Incentive Plan and the applicable award agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20"><B>DEFINITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">In this announcement, the following
expressions shall have the following meanings unless the context requires otherwise:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>2020
Share Incentive Plan&rdquo;</B></TD><TD STYLE="font-size: 10pt; width: 2%; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify; width: 80%">the 2020
                                            Global Share Incentive Plan adopted by the Shareholders in July&nbsp;2020 and amended in
                                            April&nbsp;2022, which permits the grant of awards in the forms of options, restricted shares,
                                            and RSUs or other types of awards approved by the Board or the Compensation Committee</TD>
</TR><TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>ADSs&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">American
                                            depositary shares, each of which represents three Class&nbsp;A ordinary shares</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Award(s)&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">award(s)&nbsp;in
                                            the form of option, restricted shares, RSUs or other types of awards approved by the Board
                                            or the Compensation Committee pursuant to the 2020 Share Incentive Plan to Participant(s)</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">Board&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">the
                                            board of Directors of the Company</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Class&nbsp;A
ordinary shares&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">Class&nbsp;A ordinary shares of the
                                            share capital of the Company with a par value of US$0.00002 each, conferring a holder of
                                            a Class&nbsp;A ordinary share one vote per share on all matters subject to the vote at general
                                            meetings of the Company</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Class&nbsp;B
ordinary shares&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">Class&nbsp;B ordinary shares of the
                                            share capital of the Company with a par value of US$0.00002 each, conferring weighted voting
                                            rights in the Company such that a holder of a Class&nbsp;B ordinary share is entitled to
                                            ten votes per share on all matters subject to the vote at general meetings of the Company,
                                            subject to the requirements under Rule&nbsp;8A.24 of the Listing Rules&nbsp;that the reserved
                                            matters shall be voted on a one vote per share basis</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Company&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">KE
                                            Holdings Inc., an exempted company with limited liability incorporated in the Cayman Islands
                                            on July&nbsp;6, 2018</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Compensation
Committee&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">the compensation committee of the Board</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">Director(s)&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">the
                                            director(s)&nbsp;of the Company</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">Grantee(s)&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Ms.&nbsp;Xiaohong
                                            Chen, Mr.&nbsp;Hansong Zhu and Mr.&nbsp;Jun Wu</FONT></TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Group&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">the
                                            Company and its subsidiaries and consolidated affiliated entities from time to time</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">HK$&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">Hong
                                            Kong dollars, the lawful currency of Hong Kong</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0"></P>

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<P STYLE="font-size: 10pt; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Hong
Kong Stock Exchange&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left; width: 2%">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify; width: 80%">The Stock
                                            Exchange of Hong Kong Limited</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Listing&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">the
                                            listing of the Class&nbsp;A ordinary shares on the Main Board of the Hong Kong Stock Exchange</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Listing
Rules&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">the Rules&nbsp;Governing the Listing of Securities
                                            on The Stock Exchange of Hong Kong Limited</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">Participant(s)&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">a
                                            person who, as a director, consultant or employee of any member of the Group, has been granted
                                            an Award pursuant to the 2020 Share Incentive Plan</FONT></TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">RSU(s)&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">restricted
                                            share unit(s)</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&ldquo;</B></FONT><B>Share(s)&rdquo;</B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">the
                                            Class&nbsp;A ordinary shares and Class&nbsp;B ordinary shares in the share capital of the
                                            Company, as the context so requires</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">Shareholder(s)&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">holder(s)&nbsp;of
                                            Shares and, where the context requires, ADSs</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">US$&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">U.S.
                                            dollars, the lawful currency of the United States of America</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="font-size: 10pt; vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-size: 10pt">%&rdquo;</FONT></B></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify">per
                                            cent</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: center; color: #231f20"><FONT STYLE="font-size: 10pt">By
    order of the Board</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; color: #231f20"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;KE
    Holdings Inc.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; color: #231f20"><FONT STYLE="font-size: 10pt">Yongdong
    Peng</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center; color: #231f20"><FONT STYLE="font-size: 10pt">Chairman
    and Chief Executive Officer</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231f20">Hong Kong, September&nbsp;26,
2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify; color: #231f20"><I>As
at the date of this announcement, the board of directors of the Company comprises Mr.&nbsp;Yongdong Peng, Mr.&nbsp;Yigang Shan, Mr.&nbsp;Wangang
Xu and Mr.&nbsp;Tao Xu as the executive directors, Mr.&nbsp;Jeffrey Zhaohui Li as the non-executive director, and Ms.&nbsp;Xiaohong Chen,
Mr.&nbsp;Hansong Zhu and Mr.&nbsp;Jun Wu as the independent non-executive directors.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt"></P>

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