Chinese Mainland Serviced Apartments Market Outlook The performance of the serviced apartments is expected to recover gradually in the second half of 2022, subject to COVID-19 conditions. Investment Properties Under Development INDIGO Phase Two, Beijing INDIGO Phase Two is an extension of the existing INDIGO development with a GFA of approximately four million square feet. Jointly developed with the Sino-Ocean group, INDIGO Phase Two will be an office-led mixed-use development and is planned to be completed in two phases, in 2025 and 2026, respectively. Piling works have been completed. Foundation works are in progress. The Group has a 35% interest in INDIGO Phase Two. Taikoo Li Xi’an In March 2022, a consortium in which the Group has a 70% interest acquired (via a government land tender) the land use rights in respect of land located at the Small Wild Goose Pagoda historical and cultural zone in the Beilin district of Xi’an. With a site area of approximately 1.3 million square feet, the land is expected to be developed as Taikoo Li Xi’an, a retail- led mixed-use development comprising retail and cultural facilities in addition to a hotel, serviced residences and business apartments. The estimated GFA is approximately three million square feet (above ground and underground), subject to further planning. The project is expected to be completed in 2025. The consortium is a collaboration with Xi’an Cheng Huan Cultural Investment and Development Co., Ltd. The chart below illustrates the expected attributable area of the completed property portfolio in the Chinese Mainland. Attributable Area of Completed ŽA ‘000 s’“ ft“” Property Portfolio in the 14,000 Chinese Mainland 12,000 Taikoo i anlitun, Taikoo i ‰iantan, 10,000 eiin hanhai 8,000 Taikoo ui, €‚ƒ€ „ Phase TŠo, uan­hou eiin 6,000 €‚ƒ€ „, eiin Taikoo i ‹i’an 4,000 ino…„†ean ui Žan, 2,000 Taikoo i Chendu uan­hou ‡ˆ€ Taikoo ui, „thers 0 hanhai 2022 to 2024 2025 2026 and later 33