Review of Operations Investment Properties – Hong Kong Offices Overview The completed office portfolio in Hong Kong comprises an aggregate of 10.0 million square feet of space on a 100% basis. Total attributable gross rental income from our office properties in Hong Kong was HK$2,730 million in the first half of 2024. At 30th June 2024, our office properties, completed and under development, in Hong Kong were valued at HK$179,182 million. Of this amount, the Group’s attributable interest was HK$170,013 million. Hong Kong Office Portfolio GFA (sq. ft.) Occupancy Attributable (100% Basis) (at 30th June 2024) Interest Pacific Place 2,186,433 97% 100% (1) Taikoo Place – One Island East and One Taikoo Place 2,322,772 94% 100% Taikoo Place – Two Taikoo Place 994,545 62% 100% (2) Taikoo Place – Other Office Towers 3,122,431 92% 50%/100% (3) Others 1,382,061 80% 26.67%/50%/100% Total 10,008,242 (1) Excluding the 45th to 54th floors (except for the 49th floor) which have been disposed of. (2) Including PCCW Tower, of which the Group owns 50%. (3) Others comprise One Citygate (26.67% owned), Berkshire House (50% owned), SPACES.8QRE (wholly-owned), Five Pacific Place (wholly-owned), Six Pacific Place (wholly-owned) and South Island Place (50% owned). Gross rental income from the Hong Kong office portfolio in the first half of 2024 was HK$2,576 million, representing a decrease of 7% from the same period in 2023. Disregarding the revenue loss arising from the disposal of nine floors of One Island East, gross rental income decreased by 4%. With continued new office supplies coming to the market, coupled with weak demand, office rental remained under pressure. Despite these challenges, our office portfolio has remained resilient. Our commitment to enhancing our placemaking attributes, including tenant engagement programmes, amenity provision and ESG initiatives, remains affirmative. At 30th June 2024, the office portfolio was 89% let. The two latest buildings, Two Taikoo Place and Six Pacific Place (which were completed in September 2022 and February 2024, respectively), were 62% and 44% let, respectively. Excluding Two Taikoo Place and Six Pacific Place, the rest of the office portfolio was 93% let. The chart below shows the mix of tenants of the office properties by the principal nature of their businesses (based on internal classifications) as a percentage of the office area at 30th June 2024. Office Area by Tenants’ Businesses (At 30th June 2024) 0.6% 11.3% 6.9% 27.1% Banking/Finance/ Professional services (Accounting/ Real estate/Construction/ 9.1% Securities/ Legal/Management consulting/ Property development/ Investment Corporate secretarial) Architecture Trading Insurance Advertising and 9.9% public relations Technology/Media/ Others 19.6% Telecoms 15.5% 24 Swire Properties Limited Interim Report 2024