CHAIRMAN’S STATEMENT The reopening of Hong Kong and the Chinese Mainland signals the beginning of a new post-pandemic era for our business, and we remain optimistic for a recovery across our key markets, and are ready to capture new opportunities as they arise. Dear shareholders, achievements with our teams, partners and the wider 2022 was a milestone year for our business. We made community. This milestone year was made all the more significant progress with our HK$100 billion investment important as it marked the 25th anniversary of the pipeline, whilst celebrating 50 years of originality and establishment of the Hong Kong Special Administrative creativity since Swire Properties’ inception in 1972. Region. Looking ahead, we are looking forward to pursuing our growth strategy in our home city and in our core We continued to face operational challenges due to the markets in the Chinese Mainland and South East Asia. pandemic, in particular during the first half of the year. However, our financial strength and our commitment to Profits and Sustained Dividend Growth operational excellence ensured that we delivered a Our reported profit attributable to shareholders in 2022 was stable performance across our business. HK$7,980 million, compared with HK$7,112 million in 2021. The full reopening of the border with the Chinese Mainland Underlying profit attributable to shareholders decreased and the relaxation of pandemic control measures is a by HK$826 million from HK$9,532 million in 2021 to welcome development for Hong Kong, as the city returns to HK$8,706 million in 2022, primarily due to the reduction in normalcy. Hong Kong is our home, and we are determined profit from the sale of car parking spaces at our Taikoo to contribute to Hong Kong’s resurgence, and to further Shing residential development in Hong Kong. Our recurring reinforce the city’s unique position as a global financial underlying profit for the year was HK$7,176 million, centre and a super connector to the Greater Bay Area. compared with HK$7,143 million in 2021. In the Chinese Mainland, thanks to the national success of We declared a second interim dividend for 2022 of HK$0.68 our two retail-led brands – Taikoo Li and Taikoo Hui – we per share. This, together with the first interim dividend of have announced several major new investments. As China’s HK$0.32 per share paid in October 2022, amounts to a full economy continues to grow, we will continue to refine our year dividend of HK$1.00 per share, representing a 5% approach to transformational placemaking in all the cities increase over the dividends for 2021. The second interim in which we operate. dividend for 2022 will be paid on Thursday, 4th May 2023 Our 50th anniversary celebrations in 2022 were a timely to shareholders registered at the close of business on the reminder of how far we have come as a company since record date, being Thursday, 6th April 2023. Shares of the our early beginnings with the Taikoo Sugar Refinery and Company will be traded ex-dividend from Monday, Taikoo Dockyard. I was immensely proud to celebrate our 3rd April 2023. 20