REVIEW OF OPERATIONS Taikoo Li Qiantan in Shanghai opened on 30th September cosmetics and lifestyle brands, and from operators of 2021. Retail sales and footfall were strong until a food and beverage outlets, is expected to be stable. In COVID-19 resurgence in March. Operations were Beijing, retail sales and demand for retail space are gradually resumed from late May. As at 30th June 2022, expected to recover steadily. tenants had committed (including by way of letters of intent) to take up 91% of the retail space. 68% of the The following chart shows the percentage of attributable lettable retail space was open. gross rental income from the retail properties in the Chinese Mainland, for the month ended 30th June 2022, Chinese Mainland Retail Market Outlook derived from leases expiring in the periods with no Demand for retail space is expected to be stable and to committed renewals or new lettings. Tenancies recover steadily in the second half of 2022. In Guangzhou accounting for approximately 15.1% of the attributable and Chengdu, demand for retail space from retailers of gross rental income in the month of June 2022 are luxury brands is expected to be strong. In Shanghai, due to expire in the second half of 2022, with tenancies demand for retail space from retailers of luxury fashion, accounting for a further 30% of such rental income due to expire in 2023. Retail Lease 60% Expiry Profile 50% (At 30th June 2022 40% 30% 20% 10% 0 July – December 2022 2023 2024 and later 30 Swire Properties Limited Interim Report 2022