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 increased by 1%, to HK$2,615 million, in the first half of 2024. Disregarding changes in the value of the Renminbi, total attributable gross rental income increased by 5%. At 30th June 2024, our completed retail properties in the Chinese Mainland were valued at HK$67,701 million. Of this amount, the Group’s attributable interest was HK$56,995 million. The portfolio consists of Taikoo Li Sanlitun in Beijing, Taikoo Li Chengdu and Hui Fang in Guangzhou, which are wholly- owned by the Group, Taikoo Hui in Guangzhou, which is 97% owned, INDIGO in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai, each of which is 50% owned. Chinese Mainland Completed Retail Portfolio GFA (sq. ft.) Occupancy Attributable (100% Basis) (at 30th June 2024) Interest Taikoo Li Sanlitun, Beijing 1,622,846 99% 100% Taikoo Li Chengdu 1,354,624 98% 100% Taikoo Hui, Guangzhou 1,529,392 100% 97% INDIGO, Beijing 946,769 97% 50% (1) HKRI Taikoo Hui, Shanghai 1,107,220 92% 50% Taikoo Li Qiantan, Shanghai 1,188,727 99% 50% Hui Fang, Guangzhou 90,847 100% 100% Total 7,840,425 (1) Including spaces allocated to prospective tenants who have signed letters of intent. In the Chinese Mainland, record-high retail sales were same period in 2019 (pre-COVID-19). Retail sales at achieved in the first half of 2023, following the lifting of Taikoo Li Sanlitun in Beijing, Taikoo Li Chengdu, Taikoo COVID-19 related restrictions. However, due to an Hui in Guangzhou, INDIGO in Beijing and HKRI Taikoo Hui increase in outbound travel (reflecting the visa-free in Shanghai decreased by 4%, 17%, 9%, 4% and 20%, policy offered by various countries to the Chinese respectively, while Taikoo Li Qiantan in Shanghai Mainland and the depreciation in certain foreign remained unchanged in the first half of 2024 as currencies, in particular, the Japanese Yen), disruption compared with the same period in 2023. By comparing caused by alternation and renovation works in some the first half of 2024 with the same period in 2019, Taikoo malls, and the high base effect in 2023, retail sales in the Li Sanlitun, Taikoo Li Chengdu, Taikoo Hui and INDIGO Chinese Mainland dropped in the first half of 2024. Foot increased by 4%, 31%, 91% and 1%, respectively, and traffic was steady. Structural and reconfiguration works in HKRI Taikoo Hui had a decrease of 14% due to the Taikoo Li Sanlitun North in Beijing and HKRI Taikoo Hui in disruption caused by the major structural and Shanghai for tenant mix enhancement are in progress. reconfiguration works while Taikoo Li Qiantan had not yet Our retail sales (excluding sales by vehicle retailers) on an commenced business in 2019. Retail sales in the Chinese attributable basis in the Chinese Mainland decreased by Mainland market as a whole increased by 4% in the first 7% in the first half of 2024 but was 69% higher than the half of 2024. 30 Swire Properties Limited Interim Report 2024