At 30th June 2023, the top ten office tenants (based on attributable gross rental income in the six months ended 30th June 2023) together occupied approximately 21% of the Group’s total attributable office area in Hong Kong. Hong Kong Office Market Outlook The office market in Hong Kong is expected to remain weak in the second half of 2023, on the back of increased availability. Increasing competition from Central and Kowloon East will continue to exert downward pressure on rents across the portfolio. The ‘flight-to-quality’ trend is expected to benefit the Group, as prospective tenants upgrade their premises and place a higher value on sustainability as well as the health and wellness of their workforce. Assuming improvements in the financial markets and an increase in economic activity, the demand for Grade-A office space, particularly from financial institutions and professional services companies, should recover. The following chart shows the percentage of attributable gross rental income from the office properties in Hong Kong, for the month ended 30th June 2023, derived from leases expiring in the periods with no committed renewals or new lettings. Tenancies accounting for approximately 3.8% of the attributable gross rental income in the month of June 2023 are due to expire in the second half of 2023, with tenancies accounting for a further 18.5% of such rental income due to expire in 2024. Office Lease Expiry Profile (At 30th June 2023) 25