Review of Operations Retail The completed retail portfolio in the Chinese Mainland comprises an aggregate of 7.8 million square feet of space, 6.2 million square feet of which is attributable to the Group. Total attributable gross rental income from our retail properties in the Chinese Mainland grew by 13%, to HK$2,584 million, in the first half of 2023. Disregarding rental concessions and changes in the value of the Renminbi, total attributable gross rental income increased by 19%. At 30th June 2023, our completed retail properties in the Chinese Mainland were valued at HK$65,899 million. Of this amount, the Group’s attributable interest was HK$55,468 million. The portfolio consists of Taikoo Li Sanlitun in Beijing and Hui Fang in Guangzhou, which are wholly-owned by the Group, Taikoo Hui in Guangzhou, which is 97% owned, and INDIGO in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai, each of which is 50% owned, and Sino-Ocean Taikoo Li Chengdu, which has been wholly-owned by the Group after the completion of the acquisition of the remaining 35% interest in February 2023 and will be renamed as Taikoo Li Chengdu with effect from 23rd August 2023. Chinese Mainland Completed Retail Portfolio GFA (sq. ft.) Occupancy Attributable (100% Basis) (at 30th June 2023) Interest Taikoo Li Sanlitun, Beijing 1,619,537 97% 100% (1) Sino-Ocean Taikoo Li Chengdu 1,354,624 96% 100% Taikoo Hui, Guangzhou 1,529,392 100% 97% INDIGO, Beijing 946,769 100% 50% HKRI Taikoo Hui, Shanghai 1,107,220 96% 50% Taikoo Li Qiantan, Shanghai 1,188,727 95% 50% Hui Fang, Guangzhou 90,847 100% 100% Total 7,837,116 (1) In February 2023, the Group acquired the remaining 35% interest in Sino-Ocean Taikoo Li Chengdu (to be renamed as Taikoo Li Chengdu with effect from 23rd August 2023). The Group’s interest increased from 65% to 100% after the transaction. In the Chinese Mainland, foot traffic improved significantly and retail sales strongly exceeded pre-pandemic levels for many of our malls, following the lifting of COVID-19 related restrictions. Our retail sales (excluding sales by vehicle retailers) on an attributable basis in the Chinese Mainland in the first half of 2023 increased by 41%. Retail sales at Taikoo Li Sanlitun in Beijing, Sino-Ocean Taikoo Li Chengdu, Taikoo Hui in Guangzhou, INDIGO in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai increased by 29%, 27%, 16%, 34%, 72% and 169% respectively in the first half of 2023. National retail sales increased by 8% in the first half of 2023 compared to the same period in 2022. The Group’s gross rental income from retail properties in the Chinese Mainland increased by 30%, to HK$2,042 million, in the first half of 2023. Disregarding rental concessions and changes in the value of the Renminbi, gross rental income increased by 37%. 30 Swire Properties Limited Interim Report 2023