Consolidated Statement of Cash Flows For the six months ended 30th June 2024 – unaudited Unaudited Audited Six months ended Year ended 30th June 31st December 2024 2023 2023 HK$M HK$M HK$M Operating activities Cash generated from operations 3,701 4,221 7,492 Interest paid (885) (547) (1,222) Interest received 79 36 104 Tax paid (530) (370) (963) 2,365 3,340 5,411 Dividends received from joint venture companies 80 34 34 Net cash from operating activities 2,445 3,374 5,445 Investing activities Purchase of property, plant and equipment (117) (111) (217) Additions of investment properties (846) (1,332) (2,771) Purchase of intangible assets (11) (16) (64) Proceeds from disposal of investment properties 311 60 5,291 Proceeds from disposal of subsidiary companies, net of cash disposed of – – 535 Payment for acquisition of subsidiary companies, net of cash acquired – (3,388) (3,699) Purchase of shares in joint venture companies – (762) (791) Purchase of shares in associated companies – – (10,397) Purchase of financial assets at fair value through profit or loss (8) (156) (161) Equity to joint venture companies (732) (221) (356) Loans to joint venture companies (156) (956) (1,604) Repayment of loans by joint venture companies 403 173 435 Repayment of loans by associated companies – 6 17 Initial leasing costs incurred (5) (58) (79) Net cash used in investing activities (1,161) (6,761) (13,861) Net cash inflow/(outflow) before financing activities 1,284 (3,387) (8,416) Financing activities Loans drawn and refinanced 2,650 8,339 11,523 Bonds issued 1,879 – 6,742 Repayment of loans and bonds (2,650) (1,030) (3,130) Advances from an associated company 1,624 – – Principal elements of lease payments (39) (38) (82) 3,464 7,271 15,053 Capital contribution from non-controlling interests 33 – 16 Dividends paid to the Company’s shareholders (4,212) (3,978) (5,909) Dividends paid to non-controlling interests (50) (46) (95) Net cash (used in)/from financing activities (765) 3,247 9,065 Increase/(Decrease) in cash and cash equivalents 519 (140) 649 Cash and cash equivalents at 1st January 5,097 4,502 4,502 Effect of exchange differences (88) (115) (54) Cash and cash equivalents at end of the period 5,528 4,247 5,097 Represented by: Bank balances and short-term deposits maturing within three months 5,528 4,247 5,097 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. 57