MANAGEMENT DISCUSSION & ANALYSIS REVIEW OF OPERATIONS Property Trading Overview The trading portfolio comprises completed units available for sale at EIGHT STAR STREET in Hong Kong and The River in Vietnam. There are nine residential projects under development, four in Hong Kong, two in the Chinese Mainland, one in Indonesia, one in Vietnam and one in Thailand. There is also a plan to develop a residential project on part of our land banks in Miami, U.S.A. Property Trading Portfolio (At 31st December 2023) Actual/Expected GFA (sq. ft.) Construction Attributable (100% Basis) Completion Date Interest Completed Hong Kong – EIGHT STAR STREET, Wan Chai 3,091(1) 2022 100% Vietnam – The River, Ho Chi Minh City 22,959(1) 2022 20% Under Development Hong Kong – LA MONTAGNE, Wong Chuk Hang (formerly known as Wong Chuk Hang Station Package Four Property Development) 638,305 2024 25% – Chai Wan Inland Lot No. 178 692,276(2) from 2025 80% – 269 Queen’s Road East, Wan Chai 102,990(3) 2026 100% – 983-987A King’s Road and 16-94 Pan Hoi Street 440,000(5) 2028 50% Chinese Mainland – Shanghai New Bund Mixed-use Project 1,159,057(4) from 2025 40% – Shanghai Yangjing Mixed-use Project to be determined under planning 40% Indonesia – Savyavasa, South Jakarta 1,122,728 2024 50% Vietnam – Empire City, Ho Chi Minh City 5,357,318 2028 15.73% Thailand – Wireless Road, Bangkok 1,634,220(5) 2029 40% Held for Development or sale U.S.A. – South Brickell Key, Miami, Florida 550,000 under planning 100% – Brickell City Centre, Miami, Florida – North Squared site 523,000(6) N/A 100% (1) Remaining saleable area. (2) Excluding a retail shop of approximately 2,002 sq. ft. (3) Excluding a retail podium of approximately 13,197 sq. ft. (4) Residential GFA only. (5) Total GFA subject to change. (6) Represents saleable area. 56