Nike and Sabon renovated its shops. Blooms Coffee, Fresh Handmade Pasta, Pho Le, Que by Rin Horiuchi, Rabeanco, (a beauty brand), Carnival (a new food hall) and Sushi Taka Rayban, Save The Duck and Shake Shack. Starbucks at (a Japanese restaurant) were opened in early 2023. North phase were upgraded to Starbucks Reserve. Citygate Outlets Hong Kong Retail Market Outlook Citygate Outlets is the largest premium outlet mall in Footfall and tenants’ sales in Hong Kong are expected to Hong Kong with approximately 200 shops and restaurants, improve with removal of COVID-19 related measures and and with 2 hotels. It is near tourist attractions and the reopening of the border with the Chinese Mainland. transportation links (Hong Kong International Airport and The following chart shows the percentage of attributable the Hong Kong-Zhuhai-Macao Bridge). It appeals to local gross rental income from the retail properties in Hong shoppers and tourists. Kong, for the month ended 31st December 2022, derived It was fully let in 2022. adidas, Burberry, Calvin Klein, cdf from leases expiring in the periods with no committed Beauty, Coach, Fortress, I.T/i.t, MCL Citygate, Nike, Polo renewals or new lettings. Tenancies accounting for Ralph Lauren, TaSTe and Uniqlo are major tenants. Over 20 approximately 26.8% of the attributable gross rental new tenants were introduced in 2022, such as Bath & Body income in the month of December 2022 are due to expire in Work, Cupping Room, Delsey, Haustage, Jimmy Choo, 2023, with tenancies accounting for a further 34.2% of such J. Journey, Jumpin Gym, Kapok, Life Kan, Man Mano rental income due to expire in 2024. RETAIL LEASE EXPIRY PROFILE 40% (At 31st December 2022) 30% 20% 10% 0 2023 2024 2025 and later SWIRE PROPERTIES ANNUAL REPORT 2022 45