At 30th June 2024, the top ten office tenants (based on attributable gross rental income in the six months ended 30th June 2024) together occupied approximately 23% of the Group’s total attributable office area in Hong Kong. Hong Kong Office Market Outlook The office market in Hong Kong is anticipated to remain weak in the second half of 2024, affected by subdued demand and a surplus of office space in the market. Rents will continue to be under pressure. Nevertheless, the prevailing ‘flight-to-quality’ trend is likely to favour the new office buildings such as Two Taikoo Place and Six Pacific Place, as prospective tenants seek to enhance their office environment, prioritising sustainability and the well-being of their employees as critical office selection criteria. Assuming a positive development in the financial markets and an uptick in economic activities, the demand for Grade-A office space should improve. The following chart shows the percentage of attributable gross rental income from the office properties in Hong Kong, for the month ended 30th June 2024, derived from leases expiring in the periods with no committed renewals or new lettings. Tenancies accounting for approximately 8.4% of the attributable gross rental income in the month of June 2024 are due to expire in the second half of 2024, with tenancies accounting for a further 17.7% of such rental income due to expire in 2025. Office Lease 80% Expiry Profile 70% (At 30th June 2024) 60% 50% 40% 30% 20% 10% 0 July – December 2024 2025 2026 and later 25