17 SWIRE PROPERTIES ANNUAL REPORT 2024 Place. The completion of the latest phase of the Taikoo Place Redevelopment Project marks a significant milestone for the Company, transforming Taikoo Place into a modern Global Business District and providing a very competitive, credible alternative for tenants traditionally based in Central. Pacific Place continues to attract top-tier tenants despite the challenging operating climate. In the first half of 2025, we will be opening a new bridge connecting Pacific Place to Harcourt Garden, which will significantly improve connectivity to the Admiralty MTR interchange and enhance accessibility in the district. Growth in the Chinese Mainland Recent economic headwinds aside, we remain bullish about our investments and have now secured over 90% of our HK$50 billion planned investment in the Chinese Mainland. The next few years will be dedicated to the completion of our new projects. In Shanghai, our portfolio has expanded to four investments, making it our largest, most important market in the Chinese Mainland to date. In 2024, we unveiled Lujiazui Taikoo Yuan, one of the two mixed-use developments in Shanghai’s Pudong New Area. This project marks the debut of Lujiazui Taikoo Yuan Residences, our first residential project in the Chinese Mainland and which saw a positive response to the initial sales launch. The Shanghai New Bund mixed-use project is also making good progress, having achieved an encouraging sales performance for the four residential towers. Progressive Dividends and Share Buy-Back We declared a second interim dividend for 2024 of HK$0.76 per share. This, together with the first interim dividend of HK$0.34 per share paid in October 2024, amounts to a full year dividend of HK$1.10 per share, representing a 5% increase over the dividend per share for 2023. The second interim dividend for 2024 will be paid on Thursday, 8th May 2025 to shareholders registered at the close of business on the record date, being Thursday, 3rd April 2025. Shares of the Company will be traded ex-dividend from Tuesday, 1st April 2025. Our policy is to deliver sustainable growth in dividends and to pay out approximately half of our underlying profit in ordinary dividends over time. Riding on the benefit of our planned investments, our aim is to deliver mid-single digit annual growth in dividends. Last year, the Board approved a share buy-back programme of up to HK$1.5 billion for the period up to the conclusion of the next annual general meeting to be held in May 2025. During 2024, the Company repurchased 47,778,600 shares for an aggregate cash consideration of HK$750 million at an average price of HK$15.7 per share. Hong Kong Office Portfolio Despite the subdued office market conditions in 2024, the ‘flight-to-quality’ trend remains strong, with prospective tenants favouring new, triple grade-A office buildings like One and Two Taikoo Place and Six Pacific