REVIEW OF OPERATIONS Capital Commitments Capital Expenditure and Commitments Capital expenditure in the first half of 2022 on Hong Kong investment properties and hotels, including the Group’s share of the capital expenditure of joint venture companies, amounted to HK$1,287 million (first half of 2021: HK$1,245 million). Outstanding capital commitments at 30th June 2022 were HK$13,041 million (31st December 2021: HK$14,500 million), including the Group’s share of the capital commitments of joint venture companies of HK$76 million (31st December 2021: HK$73 million). Capital expenditure in the first half of 2022 on Chinese Mainland investment properties and hotels, including the Group’s share of the capital expenditure of joint venture companies, was HK$3,547 million (first half of 2021: HK$313 million). Outstanding capital commitments at 30th June 2022 were HK$12,568 million (31st December 2021: HK$6,184 million), including the Group’s share of the capital commitments of joint venture companies of HK$4,486 million (31st December 2021: HK$4,777 million). The Group was committed to funding HK$147 million (31st December 2021: HK$1,146 million) of the capital commitments of joint venture companies. Capital expenditure in the first half of 2022 on investment properties and hotels in the U.S.A. amounted to HK$18 million (first half of 2021: HK$6 million). Outstanding capital commitments at 30th June 2022 were HK$2 million (31st December 2021: Nil). Profile of Capital Commitments for Investment Properties and Hotels Commitments relating to Total Joint Venture (1) (2) Expenditure Forecast Expenditure Commitments Companies Six months Six months ended ending 30th June 31st December 2025 At 30th June At 30th June 2022 2022 2023 2024 and later 2022 2022 HK$M HK$M HK$M HK$M HK$M HK$M HK$M Hong Kong 1,287 4,260 1,629 755 6,397 13,041 76 Chinese Mainland 3,547 1,847 2,287 3,315 5,119 12,568 4,486 U.S.A. 18 2 – – – 2 – Total 4,852 6,109 3,916 4,070 11,516 25,611 4,562 (1) The capital commitments represent the Group’s capital commitments of HK$21,049 million plus the Group’s share of the capital commitments of joint venture companies of HK$4,562 million. (2) The Group was committed to funding HK$147 million of the capital commitments of joint venture companies in the Chinese Mainland. 42 Swire Properties Limited Interim Report 2022