SWIRE PROPERTIES ANNUAL REPORT 2023 Key areas of activities of the Board during the year are summarised below. Leadership and People • Reviewed the structure, size, composition of the Board and the independence of the INEDs • Discussed updates from the Nomination Committee on matters including the Company’s progress in achieving measurable objectives on board diversity, updates on employee diversity and the implementation and effectiveness of the Group’s diversity policy • Considered and approved the recommendations from the Nomination Committee on re-election of Directors at the 2023 Annual General Meeting • Discussed updates from the Remuneration Committee on matters including compensation of the Executive Directors and senior management of the Company, gender pay equity and CEO pay ratio of the Group Strategy • Discussed the Group’s 10-year plan regarding its 2024-2033 business strategies and projections • Discussed the Group’s investment and divestment strategies • Considered and approved the Group’s investments, acquisitions or disposals, overall portfolio direction and investment plans, capital allocation strategy and growth objectives • Reviewed the Group’s progress under the HK$100 billion investment plan • Discussed updates on the Group’s geographic portfolio and macro-economic developments Financial and Business • Reviewed and approved the interim and annual results announcements as well as Performance the interim and annual reports • Discussed and approved the 2023 annual budget and longer-term financial plans • Reviewed business updates and operating results of the Group, its operating environment and performance outlook • Reviewed implementation status of the Group’s capital allocation strategy • Discussed development progress of projects and investments • Approved and declared the second interim dividend for 2022 and the first interim dividend for 2023 • Reviewed and approved the Group’s major financing arrangements and fund- raising activities 97