Review of Operations Capital Commitments Capital Expenditure and Commitments Capital expenditure in the first half of 2024 on Hong Kong investment properties and hotels, including the Group’s share of the capital expenditure of joint venture companies, amounted to HK$612 million (first half of 2023: HK$1,298 million). Outstanding capital commitments at 30th June 2024 were HK$9,692 million (31st December 2023: HK$9,919 million), including the Group’s share of the capital commitments of joint venture companies of HK$44 million (31st December 2023: HK$22 million). Capital expenditure in the first half of 2024 on Chinese Mainland investment properties and hotels, including the Group’s share of the capital expenditure of joint venture companies, amounted to HK$983 million (first half of 2023: HK$353 million). Outstanding capital commitments at 30th June 2024 were HK$19,127 million (31st December 2023: HK$15,271 million), including the Group’s share of the capital commitments of joint venture companies of HK$11,001 million (31st December 2023: HK$7,106 million). The Group is committed to funding HK$939 million (31st December 2023: HK$797 million) of the capital commitments of joint venture companies. In addition to this, the Group is committed to make capital injections into joint venture companies of HK$1,817 million (31st December 2023: HK$275 million). Capital expenditure in the first half of 2024 on investment properties and hotels in the U.S.A. amounted to HK$60 million (first half of 2023: HK$16 million). Outstanding capital commitments at 30th June 2024 were HK$35 million (31st December 2023: HK$25 million). Profile of Capital Commitments for Investment Properties and Hotels Commitments relating to Total joint venture (1) Companies (2) Expenditure Forecast Expenditure Commitments Six months Six months ended ending 30th June 31st December 2027 At 30th June At 30th June 2024 2024 2025 2026 and later 2024 2024 HK$M HK$M HK$M HK$M HK$M HK$M HK$M Hong Kong 612 785 719 1,738 6,450 9,692 44 Chinese Mainland 983 3,531 5,702 4,522 5,372 19,127 11,001 U.S.A. 60 28 7 – – 35 – Total 1,655 4,344 6,428 6,260 11,822 28,854 11,045 (1) The capital commitments represent the Group’s capital commitments of HK$17,809 million plus the Group’s share of the capital commitments of joint venture companies of HK$11,045 million. (2) The Group is committed to funding HK$939 million of the capital commitments of joint venture companies. 46 Swire Properties Limited Interim Report 2024