SwirePacific SD Report

THRIVING TOGETHER SUSTAINABLE DEVELOPMENT REPORT 2022

Contents 2 Introduction 3 Chairman’s statement 4 From our Department Heads 6 Our business 8 Our approach to sustainable development 12 ESG risk management 15 Task Force on Climate-Related Financial Disclosures 24 SwireTHRIVE 25 Climate 33 Waste 39 Water 44 People 54 Communities 68 About our report 70 Assessing materiality 74 Stakeholder engagement 76 Other ESG disclosures 77 Governance 79 Supply chain 81 Talent management 83 Customers 85 Biodiversity 87 Appendices 87 Performance data 98 External initiatives, charters and memberships 101 GRI and HKEX content index 113 Glossary SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 1

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices OvOveerrvivieeww Chairman’s statement From our Dept. Heads INTRODUCTION Overview Swire Paci昀椀c Limited (Swire Paci昀椀c or the We have published sustainability reports Group) is a Hong Kong-based international since 2007. This report deals with our Explore more conglomerate with a diversi昀椀ed portfolio approach and performance in the 昀椀ve of market leading businesses. This report areas of our sustainable development More about Swire Paci昀椀c covers its subsidiaries in four divisions strategy, SwireTHRIVE (Climate, Waste, Other ESG disclosures (Property, Beverages, Aviation, and Water, People, and Communities) and Trading & Industrial). In April 2022, Swire with secondary environmental, social, and About this report Paci昀椀c completed the disposal of Swire governance (ESG) topics that have been How we identify material topics Paci昀椀c O昀昀shore, so ceasing operations in identi昀椀ed as material. the marine services business. Data for this This report was published in April operating company is included up until the 2023. It is additional to the Sustainable date of sale. Operating companies which it does not control are excluded. Its business Development Review in the Swire Paci昀椀c activities are predominantly in Greater Annual Report 2022. Key performance China, where it has been established for data has been independently assured over 150 years. by Deloitte. Sustainable development is a core principle for the Group. We invest in sustainable development because it is the right thing to do, and because it supports the creation of long-term shareholder value through innovation and improved e昀케ciency. SSSWIWIWIRRREEE P P PAAACCCIIIFFFICICIC ——— SSSUUUSSSTTTAAAIIINNNAAABLEBLEBLE D D DEEEVVVEEELLLOOOPPPMMMEEENTNTNT R R REEEPPPOOORTRTRT 222000222222 ——— 2 2 2

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview ChChaaiirrmmanan’’ss s statattememenentt From our Dept. Heads INTRODUCTION Chairman’s statement operations by 2030 and are developing a People and community focus decarbonisation roadmap to achieve net Having a healthy and empowered zero by 2050. Our progress on climate workforce is critical to address the leadership was underscored by receiving a challenges we face, and to ensure our score of A- by CDP. future sustainability and success. We It is imperative that we prioritise carbon have continued to uphold our promise reduction where it matters most. Swire of creating an inclusive, respectful, Coca-Cola and Swire Properties account and supportive working environment. for more than 80% of our Group’s scope That’s why this year we built on our 1 and 2 emissions. Both companies have past commitments to promote gender set 1.5°C-aligned science based targets. equality by introducing a near-term target Technology is integral to our companies’ to achieve 30% of women on the Swire decarbonisation plans. This year, Swire Paci昀椀c Board of Directors by 2024. At the Coca-Cola achieved a 5% annual increase time of writing, we have increased female Guy Bradley in the proportion of renewable energy representation on the Board from 14% in used for its Chinese Mainland facilities. At 2021 to 28%. year end, Swire Properties had achieved Dear Stakeholders, a 28% scope 1 and 2 emissions reduction I am proud that our e昀昀orts have been Sustainability issues faced by the world compared to its 2019 baseline. With externally recognised. For the second have become more challenging over the the support of the Group’s Sustainable consecutive year Swire Paci昀椀c has been years. Through the Group sustainability Development Innovation Fund, it has included on the Bloomberg Gender Equality strategy, SwireTHRIVE, we continued to rolled out a Cloud-Based Smart Energy Index. It is testament to the culture at Swire that our company and Swire Properties are accelerate our sustainability e昀昀orts in Platform and arti昀椀cial intelligence 2022, even though the ongoing impacts system, across its portfolio, to model two of only 昀椀ve Hong Kong listed companies of the COVID-19 pandemic meant it was cooling demand that will facilitate further to be represented on the Index, a third another challenging year. This ongoing reductions. being our associate, Cathay Paci昀椀c. commitment to sustainability re昀氀ects our Innovation will be a key tool in our low The positive impact we have extends long-term approach to business. beyond climate action and workforce carbon transition. In 2023, we will pilot an empowerment. Through the Swire I am pleased to present the Swire Paci昀椀c internal carbon pricing (ICP) mechanism 2022 Sustainable Development Report, with our three largest operating Charitable Trust we continue to 昀椀nd ways which summarises our performance on companies, Swire Properties, Swire Coca- to support our local communities. In key topics and details how we are further Cola, and HAECO. The use of our ICP will 2022, the Trust disbursed HK$55 million, integrating climate-action, people-centric with over HK$15 million going to projects provide additional funding for signi昀椀cant approaches into how we do business. decarbonisation projects and help to supporting COVID-19 relief e昀昀orts in Hong further embed the cost of carbon into our Kong. This is in addition to the HK$76 business planning. We will also continue to million contributed by our operating Climate leadership evidence our commitment to sustainability companies to programmes local to them. through pursuing sustainable 昀椀nance Last November’s Climate Change Conference - COP 27, highlighted the opportunities. In 2022, sustainable 昀椀nance Looking ahead need for urgent action to meet the represented more than 35% of our total The actions we take now will determine the ambitions of the Paris Agreement. The 昀椀nancing. business community has a critical role to future we all will share. Across the pillars of As part of our journey, we will broaden SwireTHRIVE we are developing ambitious play in shaping this low carbon future. our impact to include our value chain. and achievable plans that consider both That is why we remain committed to This year we completed a scope 3 environmental and societal needs. cutting our operational carbon emissions emissions assessment for all our operating in line with climate science. An 11% Challenges remain, but I am optimistic year on year group-wide reduction in companies. The assessment 昀椀ndings will feed into our net zero decarbonisation about the path that lies ahead. I am absolute emissions is driven by our roadmap for 2050 and enable targeted inspired by the progress we are making businesses making solid progress against action going forward. towards our targets; progress that is being their ambitious targets. We remain on delivered by our people across the Group, track to halve emissions from our own and to them I o昀昀er my heartfelt thanks. SSSWIWIWIRRREEE P P PAAACCCIIIFFFICICIC ——— SSSUUUSSSTTTAAAIIINNNAAABLEBLEBLE D D DEEEVVVEEELLLOOOPPPMMMEEENTNTNT R R REEEPPPOOORTRTRT 222000222222 ——— 3 3 3

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices OvOveerrvivieeww ChChaaiirrmmanan’’ss s statattememenentt FFrroomm o ourur De Deptpt.. H Headeadss INTRODUCTION From our Department Heads This year, we met challenges, and made Midway through 2022, I took over the achievements and important movements leadership of our sustainable development towards our SwireTHRIVE commitments. strategy and performance as Group Head We continued to make progress on several of Sustainability. Despite the challenging of our goals, with an overall reduction in operating environment, I am proud of scope 1 and scope 2 emissions, as well the work done by my colleagues across as similar progress against our water the Group and continue to be energised and waste targets. We completed a full by Swire’s ongoing commitment to inventory of our scope 3 emissions and sustainability. The agreement to trial the assessed the physical climate risks to our implementation of internal carbon pricing assets. As a result of these e昀昀orts, we in 2023 is testament to the opportunity saw improvements in a number of ESG our senior management see to further ratings including CDP and the Hang Seng embed sustainability into the core Corporate Sustainability Index. functions of our businesses. Mark Harper During 2023, we will build on our 2030 As signi昀椀cant as COVID-19 has been, Group Head of Sustainability decarbonisation plans by developing a climate change presents another level carbon transition action plan to achieve of environmental, social, and economic net zero by 2050. We will continue to challenges. All must embrace ambition, innovate and invest in technologies ingenuity, and collaboration to drive and solutions to meet our ambitious progress towards achieving global goals. commitments, and transparently report It will not be easy, but I remain optimistic on our progress. that collectively we can deliver on our commitments for the future. As we come out of COVID-19, our We also recognise that as our business business and workforce look signi昀椀cantly evolves so must our approach to D&I. di昀昀erent to when we started our o昀케cial That’s why to further drive towards D&I journey in 2019. We also have new gender equality, we set an additional leadership with my appointment as the target to achieve 30% of women on our Group Head of Diversity and Inclusion. Yet board by 2024. our commitment to creating a diverse, This year, we look forward to continuing equitable and inclusive workplace remains advocating not just for women but for unwavering. everyone as we build an inclusive and Data continues to underpin our approach supportive working environment for all. to measuring success. We conducted our second group-wide D&I survey in Hong Kong and found our inclusion score increased by 7%. We also participated in Ajay Manissery Konchery external indices for gender, ethnic and Group Head of Diversity and Inclusion disability inclusion to benchmark our progress, and featured in the Bloomberg Gender Equality Index for the second consecutive time. SSSWIWIWIRRREEE P P PAAACCCIIIFFFICICIC ——— SSSUUUSSSTTTAAAIIINNNAAABLEBLEBLE D D DEEEVVVEEELLLOOOPPPMMMEEENTNTNT R R REEEPPPOOORTRTRT 222000222222 ——— 4 4 4

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Chairman’s statement FFrroomm o ourur De Deptpt.. H Headeadss Health and safety is a top priority for us We have placed particular focus on as we strive towards our aspirational goal introducing technology to help enhance of achieving zero harm. This objective our safety capabilities and culture. This underpins our approach to safety includes the use of AI and wearable management. technology. Our commitment to protecting the We recognise the importance of ensuring health of our stakeholders has remained contractor safety. This is re昀氀ected in steadfast, so we adapted by introducing monitoring and reporting on contractor e昀昀ective mitigations while the business safety programmes as we continue to was a昀昀ected by COVID-19. We have adopt a more holistic and integrated worked hard to keep the company and approach to our safety strategy. all with whom we do business safe and As we look forward, we are committed healthy. These e昀昀orts have strengthened to continuously improving safety training our business resilience and resulted in an throughout the company since we believe Wai Ching Cheung increased focus on sta昀昀 wellbeing. this is a fundamental component to Chief Risk O昀케cer Our risk governance includes a risk building a sustainable safety culture. forum which oversees both human Our strong commitment to health and resources and health and safety. This safety forms a key part of our employee has helped us to identify emerging risk proposition and bene昀椀ts all of our issues and opportunities in these two stakeholders. interrelated areas. With social distancing measures eased Internally, we continued to engage towards the end of 2022, the fast onset our sta昀昀 to our NGO partners through 昀椀fth wave of COVID-19 at the start of the various activities, such as Lunch & Learns, year seems to be a distant memory. During as well as new mentorship programme that challenging time, Swire Trust swiftly for underprivileged youth. Over 1,000 injected an additional HK$15.5 million colleagues participated in 54 community through its TrustTomorrow initiative. This activities to lend their support. It is by funding provided essential services that joining e昀昀orts within and outside of the vulnerable groups have been unable to group that we will be able to create a access, helping them retain a level of well- better society together. being in these challenging times. As our ongoing TrustTomorrow projects gain momentum, it is a delight to see them starting to bear fruit. To date, over Tina Chan HK$124 million has been distributed to Group Head of Philanthropy over 100 partner organisations to allow them to create impact in the areas of Education, Marine Conservation, the Arts, as well as pandemic relief. SSSWIWIWIRRREEE P P PAAACCCIIIFFFICICIC ——— SSSUUUSSSTTTAAAIIINNNAAABLEBLEBLE D D DEEEVVVEEELLLOOOPPPMMMEEENTNTNT R R REEEPPPOOORTRTRT 222000222222 ——— 5 5 5

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices OvOveerrvivieeww Our approach ESG risk management TCFD OUR BUSINESS About Swire Paci昀椀c Swire Paci昀椀c is a Hong Kong-based international conglomerate with a diversi昀椀ed portfolio of market leading businesses. The Company has a long history in Greater China where the name Swire or 太古 has been established for over 150 years. Our aims are to deliver sustainable growth in shareholder value, achieved through sound returns on equity over the long term, and to return value to shareholders Property Aviation through sustainable growth in ordinary Swire Properties is a leading developer, The Aviation Division comprises the wholly dividends. owner, and operator of mixed-use, owned Hong Kong Aircraft Engineering Swire Paci昀椀c is listed on the Stock principally commercial, properties in Hong Company (HAECO) group and an associate 1 Exchange of Hong Kong (HKSE: . Kong and the Chinese Mainland (Beijing, interest in the Cathay Paci昀椀c Group 00019/00087). Operating with three Chengdu, Guangzhou, and Shanghai), and Hong Kong Aircraft Engineering core divisions (Property, Beverages, and the US (Miami). Company (HAECO) is a leading provider Aviation), Swire Paci昀椀c undertakes a wide of international aircraft maintenance and range of commercial activities. It is the repair services, operating from bases largest shareholder in two other listed in Hong Kong, the Chinese Mainland, companies in Hong Kong: Swire Properties and the US. Limited (Swire Properties, HKSE: 1972) and Cathay Paci昀椀c Airways Limited (Cathay Cathay Paci昀椀c, with its subsidiaries HK Paci昀椀c, HKSE: 293). Express and Air Hong Kong, had 222 aircraft at the end of 2022. Before the onset of COVID-19, the airlines directly connected Hong Kong to 119 destinations worldwide. It has an 18.13% interest in Beverages Air China and interests in companies providing 昀氀ight catering, laundry, and Swire Coca-Cola has the exclusive right passenger and ramp handling services, to manufacture and distribute products and owns and operates a cargo terminal at of The Coca-Cola Company (TCCC) in 11 Hong Kong International Airport. provinces and the Shanghai municipality in the Chinese Mainland and in Hong Kong, Taiwan, and an extensive area of the western US. It is the 昀椀fth largest bottler for TCCC by sales volume. Swire Coca-Cola has recently acquired Coca-Cola bottling subsidiaries in Cambodia and Vietnam. In accordance with Swire Paci昀椀c’s reporting methodology, we will not report on indicators for these acquisitions until operational performance data is available for at least one full calendar year. 1. Swire Paci昀椀c holds less than half (45%) of the voting rights of Cathay Paci昀椀c. It is accounted for as an associated company and therefore excluded from this report (except under scope 3 emissions). Cathay Paci昀椀c produces its own standalone sustainable development report which is available on its corporate website. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 6

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices OvOveerrvivieeww Our approach ESG risk management TCFD Taikoo Sugar packages and sells sugar in Marine Services Hong Kong and the Chinese Mainland. (Discontinued operations) Swire Waste Management Limited The Marine Services Division comprised has waste management contracts in investments in Swire Paci昀椀c O昀昀shore and Hong Kong. Hongkong United Dockyards (HUD) group. Swire Paci昀椀c O昀昀shore owned and Swire Paci昀椀c is one of Hong Kong’s largest and oldest employers, where we have operated a 昀氀eet of vessels supporting the over 29,000 employees. In the Chinese o昀昀shore energy industry in every major Mainland, we also have over 35,000 o昀昀shore production and exploration employees. Globally, we employ almost region outside the US. With the disposal 2 Trading & Industrial 80,000 people . of its interest in Swire Paci昀椀c O昀昀shore Swire Resources retails and distributes in April 2022 and the sale of its 50% footwear, apparel and related accessories interest in the HUD group in September in Hong Kong, Macau, and the Chinese Further reading 2021, the Group no longer operates any Mainland. It operated 162 retail outlets at marine services business. Sustainability Swire Paci昀椀c Factsheet performance data is included up until the the end of 2022. point of sale. Taikoo Motors sells passenger cars, Swire Paci昀椀c Annual Report 2022 commercial vehicles, motorcycles, and For further information about our group scooters, almost all of them in Taiwan. structure and 昀椀nancial performance, please refer to the Swire Paci昀椀c Annual Qinyuan Bakery is a leading bakery chain Report 2022. in southwest China, with 437 stores at the end of 2022. Swire Paci昀椀c Group overview 2022 Trading & Property Beverages Aviation Industrial 3 Total revenue (HK$M) 13,788 54,223 13,828 9.321 Recurring pro昀椀t/ (loss) (HK$M) 5,844 2,392 (3,007) 160 4 Tax expense (HK$M) 2,064 802 80 69 5 6,407 34,380 11,884 6,083 Total employees Total scope 1 & 2 GHG emissions (thousand tonnes 196 358 59 27 CO e) 2 6 Total water withdrawal (thousand cbm) 1,639 14,586 385 300 Total waste generated (tonnes) 34,051 25,624 5,340 1,325 2. Includes associate companies not covered by this sustainable development report (e.g. Cathay Paci昀椀c and Hong Kong Aero Engine Services Limited (HAESL)). 3,4. Revenue and tax expense 昀椀gures are on consolidated basis and exclude those of joint venture and associated companies. 5. Total employees are those at 31st December 2022 and include sta昀昀 of all employment types (permanent full time sta昀昀, permanent part time sta昀昀 and, in the Chinese Mainland, 昀椀xed contract sta昀昀, 昀椀xed term and temporary contract sta昀昀). On the same date, there were 50 employees directly employed by Swire Paci昀椀c (head o昀케ce). Employee 昀椀gures exclude Cathay Paci昀椀c Group and HAESL. 6. Total water withdrawal refers to the sum of water drawn from municipal water and groundwater. Virtually all water withdrawal by the Swire Paci昀椀c Group is from municipal water supplies provided by local water supply authorities. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 7

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview OOuurr appr approaoacchh ESG risk management TCFD OUR BUSINESS Our approach to sustainable development Sustainable development is a strategic ESG policies Transparent and objective for Swire Paci昀椀c. Using natural Our Sustainable Development Policy reliable data resources responsibly, minimising waste and pollution, and investing in our people aims to ensure our companies act in As a growing and diversi昀椀ed business, and communities are fundamental to a manner consistent with the 1987 tracking sustainability performance our ability to create long-term value for Brundtland Commission’s definition and setting targets can be challenging. shareholders. of sustainable development: meeting To address this, we have a reporting the needs of the present without methodology which deals with the To promote sustainability in our compromising the ability of future scope, boundaries, and calculations of businesses and management practices, we generations to meet their own needs. the relevant data. We also have data have a sustainable development strategy Our ESG policies include the five collection protocols for carbon, waste, and water, that standardises our data (SwireTHRIVE) and environmental, social SwireTHRIVE pillars and go beyond calculation methodology, and includes and governance (ESG) policies. them, covering, for example, human rights, biodiversity, and sustainable variance checks and procedures for procurement. dealing with abnormal data. SwireTHRIVE We seek third party assurance on key A Group level strategy facilitates We regularly review our policies relating sustainability performance data points. best practice sharing and consistent to sustainability. Where we identify We are also working with a third party to implementation of sustainability. It policy gaps, we create new policies to validate the robustness of additional data also allows us to better communicate guide the Group’s approach. Policies with a view to expanding the scope of our the impact we are having as a group. are developed at the working group assured data in future reporting cycles. level, before review by the Swire Group SwireTHRIVE addresses 昀椀ve areas and is supported by policies and targets. All Environmental Committee (SGEC) and operating companies are expected to the Group Risk Management Committee Explore more (GRMC), and approval by senior make progress in the 昀椀ve areas. management. Performance data In 2022, we updated our Company Climate Code of Conduct and Supplier Code of Conduct, and launched a new Anti- Waste Bribery and Corruption Policies and a Data Retention and Disposal Policy. Water All policies related to sustainable People development can be downloaded from our corporate website. Communities Further reading Sustainable development policies Reporting Methodology Independent Assurance Report SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 8

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview OOuurr appr approaoacchh ESG risk management TCFD Swire Properties targets for at least 80% Sustainable The Board currently comprises 昀椀ve of its bond and loan facilities to come development fund Executive Directors, two Non-Executive from green 昀椀nancing by 2030. Around Directors and seven Independent Non- Our sustainable development fund (SD 61% of its current 昀椀nancing is from green Executive Directors. Members are Fund) o昀昀ers 昀椀nancial support to operating bonds, green loans, and sustainability- companies for projects which can provide selected based on their quali昀椀cations, linked loans. Funds are used for green skills and experience, knowledge of our long-term environmental bene昀椀ts but building developments and the adoption businesses, and how they impact Board- cannot be justi昀椀ed by reference to our of technologies that will save energy and level diversity. All Board members have cost of capital targets. Up to HK$100 million is available annually to support water and reduce waste. New Life Plastics relevant industry experience in either Real projects that reduce the carbon, water, Limited, a joint venture to which Swire Estate, Aviation, Food and Beverage, or and waste footprints of our operating Coca-Cola is a party, has also obtained a Trading and Industrial sectors. Four out of sustainability-linked loan. companies, in line with our targets. 昀椀ve of our Executive Directors have had executive or board experience with one or The fund has been supporting our more of our subsidiaries. Having the right operating companies since 2016. Governance of sustainable blend of skills and experience ensures the Since 2019, a new funding stream was development Board can e昀昀ectively deal with current created to support trials of innovative Our Board, led by its Chairman, is and emerging risks and opportunities. green technology solutions. Operating actively engaged in formulating and In 2022, the Board received external companies invite companies and start-ups implementing SwireTHRIVE, and is training on ESG and cyber security. Further to pitch solutions to previously identi昀椀ed ultimately accountable for sustainability information on our Board diversity, sustainability problems. Successful matters including progress against processes, and training is available in the applicants receive funding to pilot the our 2030 key performance indicators. Corporate Governance section of the solution. If the pilots are successful, they The Board provides oversight of our can be scaled up for wider use in the Swire Paci昀椀c Annual Report 2022. risk management framework and our operating companies and the Group. sustainability risks, including climate- The Board is kept informed of sustainability risks and performance by The fund allows us to test new related risks. Swire Paci昀椀c also conducts the Group Risk Management Committee technologies quickly and at relatively low regular risk identi昀椀cation, analysis, cost, to determine the solutions most and review management processes (GRMC), which reports to the Board suited to our operations and quantify their throughout the year through the Audit via the Audit Committee. The Board Committee and our Enterprise Risk monitors performance through detailed actual environmental bene昀椀ts before monthly reports on health and safety, implementation at scale. The SD Fund Management (ERM) system, including and quarterly reports on other ESG has helped accelerate SD projects across our Corporate Risk Register (see ESG risk matters. It also reviews internal and the Swire Group, including innovative management section). new technologies such as Direct Current external audit reports and feedback from Microgrids at Taikoo Li Sanlitun shopping centre in Beijing. In 2022, the fund allocated approximately HK$21 million to projects at three operating companies. Board member skills, expertise and experience Accounting, Banking and Finance Sustainable 昀椀nance Linking ESG performance metrics to our Aviation 昀椀nancing mechanisms demonstrates that we are serious about being a sustainable Digital business. Since 2020, Swire Paci昀椀c has converted three revolving credit facilities ESG totalling HK$4.2 billion into sustainability- linked loans. The interest payable is Food and Beverage reducible by reference to indicators of our ESG performance including progress Global Business towards targets for energy consumption, water usage, and diversity and inclusion. Real Estate We must also remain in the Dow Jones Sustainability Asia Paci昀椀c Index. Risk Management Sustainable 昀椀nance represented more than 35% of total 昀椀nancing across the 0% 10% 20% 30% 40% 50% 60% 70% 80% Group at the end of 2022. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 9

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview OOuurr appr approaoacchh ESG risk management TCFD Sustainability governance structure external stakeholders. The Group Head of Group departments convene committees The management of risks and the Sustainability briefs the Board and Division and working groups comprising subject implementation of ESG policies are Heads twice a year on sustainability matter experts from our operating subject to scrutiny by our internal audit matters. The Board ultimately reviews companies to exchange information on department, with support from specialist and approves the Group’s sustainable best practices, with a view to developing external consultants where necessary. development related targets. speci昀椀c policy recommendations, The SDO coordinates the SGEC and 昀椀ve Responsibility for achieving sustainability improving e昀케ciency, tracking progress against targets, and managing risks. working groups responsible for de昀椀ning objectives and implementing SwireTHRIVE Formal committees relevant to our climate, waste, water and sustainable and our ESG policies on a day-to-day basis SwireTHRIVE include the Swire Group supply chain approaches and our response is delegated to division management, to the Task Force on Climate-related with oversight from specialist Group Environment Committee (SGEC) and the Financial Disclosures (TCFD). departments. The Sustainable Health and Safety Committee (both of which are overseen by the GRMC), and the Swire Paci昀椀c has established a three lines Development O昀케ce (SDO), the Group Risk Diversity & Inclusion Steering Committee of defence risk governance model. The Management and Diversity & Inclusion GRMC is supported by four risk forums and departments, and the Group Head of (which reports directly to the Chairman). Philanthropy are jointly responsible for The SDO, led by the Group Head of a separate Swire Paci昀椀c Risk Management SwireTHRIVE. Each operating company Sustainability, advises senior management Committee, which identi昀椀es risks that has adopted an appropriate organisational of key developments and emerging risks have a group dimension. structure to manage its most material related to sustainable development. sustainability issues and to monitor and It is responsible for setting group report on its performance. The SDO is environmental policies and targets, Explore more required to provide the Board of Directors monitoring the implementation of ESG risk management with quarterly reports on performance SwireTHRIVE and our ESG policies, and against sustainability targets and key internal and external reporting on ESG initiatives to drive progress. matters. The SDO reports monthly to an Executive Director of Swire Paci昀椀c. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 10

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview OOuurr appr approaoacchh ESG risk management TCFD About the SGEC About the DISC Indices and rankings The objective of the Swire Group DISC is responsible to the Chairman of Swire Paci昀椀c responds to ESG Environmental Committee is to oversee, Swire Paci昀椀c. It is jointly chaired by the questionnaires from investors, rating on behalf of the Board and Management Finance Director of Swire Paci昀椀c and the agencies and sustainable stock indices. Team, the management of SwireTHRIVE. Group Sta昀昀 Director. The other members This enables us to assess our ESG The SGEC advises them on matters of DISC are the HR Directors of our performance having regard to the required to enable: operating companies, the Sta昀昀 Services concerns of sustainability focused • the Group to operate sustainably for the Group General Manager, and the Group investors and to identify emerging Head of Diversity and Inclusion. sustainability risks and opportunities. bene昀椀t of current & future generations • sustainable growth by maintaining & DISC has general responsibility: enhancing Swire Group’s economic, • to provide guidelines about diversity Further reading environmental, human, technological and inclusion to the group of companies and social capital in the long term Swire Paci昀椀c Annual Report 2022 – comprising Swire Paci昀椀c and its • the identi昀椀cation and e昀昀ective subsidiaries, associates, and joint Corporate Governance Report management of Swire Group’s venture companies, and Diversity and Inclusion Sustainable Development (SD) risks • to formulate policies designed to Committee – Terms of Reference The Committee, which meets at least promote a diverse workforce and an three times each year, is chaired by the inclusive working environment for all Director responsible for the Group SD Swire Paci昀椀c group employees, with strategy, co-ordinated by the Group a view to ensuring that companies in Explore more Head of Sustainability, and comprises SD the Swire Paci昀椀c group are regarded as ESG risk management heads from operating companies, while employers of choice being observed by Risk Management DISC Terms of Reference are available on Governance Department, Group Public A昀昀airs, our corporate website. Corporate Finance, and Sta昀昀 Services. Dow Jones Sustainability Index In 2022, Swire Paci昀椀c was included in the DJSI Asia Paci昀椀c Index. Swire Paci昀椀c has been included in DJSI indices since 2001. Hang Seng Corporate Sustainability Index Series In 2022, Swire Paci昀椀c received an AA+ rating from the Hang Seng Corporate Sustainability Index. Swire Paci昀椀c is included in the Hang Seng Corporate Sustainability Benchmark and Hang Seng ESG 50 indices. MSCI Constituent MSCI Global SRI Indexes In 2022, Swire Paci昀椀c received an AAA rating from MSCI ESG Research, making us one of the top performers in our sector. CDP In 2022, Swire Paci昀椀c achieved a score of A- for CDP Climate Change and maintained its A- for CDP Water Security. S&P Global Sustainability Yearbook Swire Paci昀椀c was included in the S&P Global Sustainability Yearbook 2023, which recognises top performers in corporate sustainability based on assessments of over 7,500 companies across 61 sectors. Companies must be within the top 15% of their industry to be included. Bloomberg Gender-Equality Index Swire Paci昀椀c was included in the Bloomberg Gender-Equality Index for the second year in a row. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 11

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach EESSGG r riskisk m maananagegemmeenntt TCFD OUR BUSINESS ESG risk management E昀昀ective risk management is key to They are responsible for identifying and The GRMC includes divisional chief ensuring the long-term viability of the executives, is chaired by the Finance managing speci昀椀c areas of risk, proposing Group. It is embedded within all our policies and reporting performance. Part Director and reports to the Board via operating companies. It is essential that of the role of the functional committees the Audit Committee. It oversees the every Swire Paci昀椀c employee works and working groups is to identify risks management of non-昀椀nancial risks at together to address the risks to which our and opportunities which fall within their both Group and Operating Company Group is exposed. respective areas and to draw up policy levels. The GRMC: The Board has ultimate responsibility recommendations for GRMC review and • Reviews the Group’s risk pro昀椀le and for risk management, overseeing its approval. Group and divisional risk registers design and implementation. The Board The policies approved by the GRMC apply • Oversees the management of is supported by the Audit Committee. to all companies in which Swire Paci昀椀c major risks at Group and operating The Board has adopted the three lines of has a controlling interest. The boards of company levels defence model of risk governance. The these operating companies are required • Identi昀椀es emerging risks and potential model is designed to minimise con昀氀icts of to adopt these policies and to establish sources of future risk including ESG risks interest and ensure independent oversight procedures to ensure compliance. Joint of risk management. venture and associated companies are • Analyses risk events which materialise, encouraged to adopt Group policies. with a view to their resolution and to learning from them The First Line In relation to risks having a Group Explore more dimension the GRMC is supported by In the 昀椀rst line, the Board is supported by the management of each division Our Approach four risk forums covering, respectively: and functional committees. They are environmental, human, technology and responsible for identifying, analysing legal risks. In relation to those not having and managing the risks to us associated a Group dimension the GRMC is supported with achieving our business objectives, The Second Line by the Second Line infrastructure within including those relating to sustainability. each Operating Company. The role of the Second Line is to support The functional committees include The SPACRMC identi昀椀es risks which representatives from our divisions. the First Line and provide assurance to have a Group dimension and proposes The Swire Group Environmental the Board that risk is being managed approaches to the management of such Committee, Diversity and Inclusion e昀昀ectively. The Second Line includes two risks to the GRMC. management committees, the Group Risk Steering Committee (DISC), and the Health and Safety Committee are Management Committee (GRMC) which tasked with the management and focuses on Group-wide risks and the Swire The Third Line oversight of sustainability risks relevant Paci昀椀c Risk Management Committee The third line of defence is the internal to SwireTHRIVE. The members of the (SPACRMC) which oversees risks to the audit function of the Group and the audit functional committees and working Company itself. functions in our Operating Companies. groups include specialists in their respective areas. Each committee is chaired by an individual with relevant experience. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 12

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach EESSGG r riskisk m maananagegemmeenntt TCFD Risk governance structure Risk governance structure Swire Pacific Board (SPAC) BOARD LEVEL SPAC Audit Committee SPAC Executive SPAC Risk Group Risk Management Management Management Committees Committee Committee S PA HR, Health SPAC Internal C SPAC and Safety Audit Function Functional SPAC Risk Risk Forum EXECUTIVE Function LEVEL Committees Enterprise Risk IT, Data and Management Technology Working Group Risk Forum S WIRE BUSINESS UNITS (BU) Swire BU Risk Function Government, Swire BU Regulatory and Swire BU Executive and Legal Risk Forum Internal Audit Management Functions Committees Swire BU Risk Management Environment and Committees Sustainability Risk Forum FIRST LINE SECOND LINE THIRD LINE Enterprise risk management Risks considered to have a Group The Group ERM process is both top down dimension are discussed by the GRMC, Further reading and bottom up. It accommodates for and potentially by the Audit Committee and the Board. Key risk focus areas for Swire Paci昀椀c Annual Report 2022 – Risk management operating company speci昀椀c risks and risks the Group that relate to SwireTHRIVE that are material at the Group level. include Climate change and Recruitment Group ERM process The Board gives guidance on its risk and retention. Details of our mitigation priorities, the operating companies assess measures are provided in the Risk their own risks and the SPACRMC manages management section of the Annual Group risks. All of these are reported to Report, and the in the Climate, People Explore more the GRMC and are consolidated into the and Talent management sections of Climate Group risk register which is then presented this report. to the Audit Committee and the Board. We use an enterprise risk management People The operating companies have adopted (ERM) process to identify, assess, monitor Talent management a common approach to ERM based on and manage risks. The ERM process is the development and management of aimed at ensuring robust and e昀昀ective their risk registers. Operating companies risk management by the Group and are responsible for the identi昀椀cation, at fostering a risk aware culture. The assessment, mitigation, and monitoring of implementation and execution of the these risks in their respective businesses. ERM process follows our Enterprise Risk Management Policy. Each division and major operating company is required to implement the ERM process. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 13

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach EESSGG r riskisk m maananagegemmeenntt TCFD As part of this policy, operating companies and establishing Group cybersecurity We have dedicated governance related to must regularly submit corporate risk service lines. These service lines include cybersecurity, including a GRMC risk forum Threat and Vulnerability Management, to oversee IT, data and technology risks registers and changes in risk pro昀椀les to Managed Security Operation Centre, and to recommend best practice. Regular Swire Paci昀椀c. To ensure consistency of approach, these registers are prepared Incident Response Retainer, and Red cybersecurity reports are provided to the using a standard methodology and format Teaming whereby we test and strengthen IT Committee, GRMC and to the Audit and standard risk ranking criteria. our defences by identifying vulnerabilities Committee. Our IT Committee oversees In 2022, our key risk management focus and simulating attacks. the cybersecurity programmes of our operating companies. A working group The Swire Paci昀椀c CISO is the Chair of the areas included: evolution of Hong of cybersecurity professionals, which Cyber Security Working Group (CSWG) and Kong, regulatory changes, political – reports to the committee, meets regularly international tensions, climate change, is a member of the IT Committee (ITC). to promote the sharing of cybersecurity crisis management, protection and use The CISO has responsibility for presenting studies and best practices, and to enhance of data, portfolio discipline, people and cybersecurity topics to the GRMC and cybersecurity awareness across the Group. culture. More details of our ERM process Audit Committee. and our risk mitigation measures can be In 2021, we appointed a Chief Information Under Swire Paci昀椀c’s enhanced Risk found in our Annual Report. Governance Structure, an IT, Data & Security O昀케cer. We are building a dedicated team at group level to provide Technology (IDT) Risk Forum has been leadership, best practices, research and Cybersecurity established as part of the second line risk support to our operating companies. forums. Swire Paci昀椀c CISO presents during The central team is developing a Group Swire Paci昀椀c has, and monitors compliance the IDT Risk Forum to provide oversight with, a cybersecurity and information of the cybersecurity risk landscape from a cybersecurity strategy, managing security policy, and conducts regular group perspective. cybersecurity programmes and projects, cybersecurity maturity assessments based and establishing Group cybersecurity lines Regular cybersecurity reports are of service. These lines of service include on the recognised US National Institute provided to the ITC, GRMC and to the threat and vulnerability management, of Standards and Technology (NIST) Audit Committee. Our ITC oversees Cybersecurity Framework. Several major a managed security operation centre, operating companies also reference the the cybersecurity programmes for our endpoint detection and response, and operating companies. A working group ISO 27001 standard. web application 昀椀rewalls among others. of cybersecurity professionals, which Our group-level Cybersecurity Centre reports to the committee, meets regularly of Excellence (CCoE), led by our Chief to promote the sharing of cybersecurity Information Security O昀케cer (CISO), studies and best practices, and to enhance provides leadership, best practices, cybersecurity awareness across the Group. research and innovation, support and training to our operating companies. Our operating companies complete This central team is developing the a Control Self-Assessment from a Group cybersecurity strategy, managing cybersecurity perspective on an annual cybersecurity programmes and projects, basis based on GIAD requests. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 14

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD OUR BUSINESS Task Force on Climate-related Financial Disclosures Swire Paci昀椀c supports the • Swire Paci昀椀c maintains a three lines of • Regarding the 昀椀nancial impact climate recommendations of the Financial defence risk governance structure. The change may have on the Company, the Stability Board’s Task Force on Climate- 昀椀rst line of defence includes the Swire Environmental, Social and Governance related Financial Disclosures (TCFD) and Group Environment Committee (SGEC) Risk Forum provides updates to the started producing annual disclosures that and 昀椀ve subject speci昀椀c working groups, Group Risk Management Committee consider these recommendations in 2018. including the Climate and TCFD working and the Audit Committee. The following statement, structured in line groups. They comprise representatives • In 2021, we conducted a double with the recommended disclosures of the from our divisions and are responsible materiality review to gather feedback TCFD, details the risks and opportunities for identifying and managing speci昀椀c from internal and external stakeholders presented by climate change, their areas of risk, proposing policies and through qualitative interviews and focus reporting performance to the GRMC. implications for our businesses and actions groups. The topics of energy e昀케ciency, we are taking to respond. • The Swire Paci昀椀c Risk Management decarbonisation, climate adaptation and Committee (SPACRMC) and four risk resilience, as well as water and waste forums, including the Environment and management were identi昀椀ed as material Further reading Social and Governance Risk Forum, were issues for our business continuity and introduced to strengthen oversight of development. These issues align with The Task Force on Climate-related risks, including climate change-related the environmental priorities under Financial Disclosures risks (see ESG risk management). SwireTHRIVE. Swire Paci昀椀c Annual Report 2022 • The GRMC, SPACRMC and the new risk Describe management’s role in forums form the second line of defence, assessing and managing climate- providing oversight and assurance to related risks and opportunities the Board and the Audit Committee that • The Chairman, Finance Director and Explore more risks are being managed e昀昀ectively. divisional chief executives meet twice a ESG risk management • The third line of defence is the internal year to consider sustainability matters. audit function of the Group and the These meetings provide direction audit functions in our Operating and oversight to the SGEC, which Companies. comprises divisional sustainability • At a Group and Operating Company heads and is chaired by an Executive level we also conduct regular risk Governance Director of Swire Paci昀椀c. The SGEC identi昀椀cation and analysis and review meets three times a year. It has the Describe the organisation’s governance management processes throughout following responsibilities related to the year through the risk forums around climate-related risks and climate change: opportunities. and our enterprise risk management – Oversee and implement SwireTHRIVE (ERM) system. We have corporate risk • The Swire Paci昀椀c (SPAC) Board, registers, in which climate change has (including on climate) and led by an Executive Chairman, has sustainability policies ultimate accountability for climate been identi昀椀ed as an emerging risk. change-related strategies and the • To provide additional oversight – Report on Group sustainability decarbonisation performance of all and direction, the Group Head of activities and performance to the Sustainability reports periodically to GRMC (including emissions and subsidiaries under Swire Paci昀椀c. energy use) and on compliance with • The Board is briefed biannually by the the Board and leadership team on sustainability matters. sustainability policies Group Head of Sustainability on climate- related issues and our performance • Both the Board and leadership team – Review and report on legislative, regulatory and other sustainability against our decarbonisation targets. have su昀케cient knowledge of climate- • An Executive Director of Swire Paci昀椀c related issues and the impacts of such developments has responsibility for the Group issues on the company’s business and • Our Climate Change Policy guides our operations. Regular training on climate- approach to climate change mitigation, sustainability strategy (including related issues is provided to ensure Climate Change) and the Group that they are kept abreast of the latest adaptation and resilience. Sustainable Development O昀케ce. developments. In January 2022, the • Climate change and the management of • The Board is kept informed of climate Board received training on ESG trends waste and water resources are priorities risks by the GRMC, which reports to the and insights which included climate under the SwireTHRIVE strategy. Board via the Audit Committee. change and climate-related risks. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 15

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD Swire Group Environmental • Formulate and review climate 2021/22 Activity Committee strategy • The SGEC and Climate Change Working Group both • Approve targets and initiatives met three times in 2022; delivering: • Executive authority over and – A full scope 3 inventory of the Group SwireTHRIVE Working Groups accountability for the management – A Group Internal Carbon Pricing mechanism FIRST of climate risk – Developing a strategy towards the use of carbon LINE removal projects within our Net Zero Strategy • Plan and implement climate change – Developing the Group’s Carbon Transition mitigation and adaptation policies Action Plan and measures – Updated the Group Climate Change Policy • Facilitate the integration of climate-related issues into daily operations Group Risk Management • Oversees the management of risks 2021/22 Activity Committee (GRMC) relating to climate change and to • The Risk Forums and Committees meet a total of 9 the sustainability of the times annually businesses, products and services • The GRMC reviewed the Group and divisional risk of the Company and its business Swire Pacific Risk Management units registers and assessed how effectively risks are SECOND Committee (SPACRMC) being managed. It also issued the revised climate LINE • Review any significant climate change policy to the opcos change risks and opportunities • The risk forums advised the GRMC on emerging Environment and Sustainability • Provide objective support, risks including climate change Risk Forum feedback and ultimately assurance • Analysed climate risk events that materialised and to the Group via the GRMC, that all developed best practice guidance climate risks have been identified and are being managed Group Internal Audit Department • Provide a second opinion as to 2021/22 Activity whether the internal controls, • Conducted an audit of sustainability (including mitigations and crisis response Climate Change) policy adoption across the Group measures are effective THIRD • The Board is actively engaged in 2021/22 Activity Swire Pacific Board of Directors LINE formulating and implementing • Met twice a year to review climate-related risks SwireTHRIVE 2.0 and to monitor progress against our • Accountable for sustainability decarbonization targets matters including progress against • Approved the pilot implementation of the ICP our 2030 key performance indicators model including Carbon Strategy • Climate change also creates opportunities, it stimulates business Further reading Describe the climate related risks and innovation and facilitates the transition opportunities the organisation has to a lower carbon economy. By Climate Change Policy developing low-carbon and climate- identi昀椀ed over the short, medium, and long term. resilient buildings, products, and • Climate change carries risks for our services, we can meet increasing Explore more business. Flooding, extreme weather market demand and mitigate the potential operational costs from Assessing materiality events and increasing temperatures extreme weather conditions, such as Waste can adversely a昀昀ect our assets, maintenance and insurance premiums. operations, employees and suppliers. We have sustainability-linked loans There are also regulatory, market and Water reputational risks. and are committed to integrating sustainability considerations into our • Climate change appears on our risk future 昀椀nancing mechanisms. registers at both Group and operating company levels and is discussed in our 2022 annual and sustainability reports. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 16

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD Describe the impact of climate- represent comprehensive climate related risks and opportunities on the scenarios related to three projected organisation’s businesses, strategy, global average temperature increases: 1.5°C, 2°C and 3°C. and 昀椀nancial planning. • We conducted an analysis of physical • For Swire Paci昀椀c, MAAL is calculated risks for over 800 of our highest value using the insured value of each asset. It is the sum of climate-related expenses (by insured value) immovable assets and projected Modelled Average Annual (cost to repair or upgrade facilities), decreased revenue from business Loss (MAAL) of the di昀昀erent physical climate risks associated with the four interruption, and is represented as the Representative Concentration Pathways percentage (or amount) of loss relative to total asset value, as shown in the (RCP 2.6, 4.5, 6 and 8.5) used by the Intergovernmental Panel on Climate table below. Change (IPCC). These pathways broadly Key climate-related physical risks Short- medium Short- term (2030) medium Long- Risk Financial MAAL (US$ term (2030) term (2050) category Risk implications million) MAAL (%) MAAL (%) Mitigation strategies Acute • Coastal 昀氀ooding • More spending 362.5 – 369.8 1.09 – 1.11 1.82 – 2.30 • We have identi昀椀ed to improve short and medium- • Fluvial 昀氀ooding the adaptive 25.7 – 38.0 0.08 – 0.11 0.11 – 0.19 term mitigation capacity of measures for • Drought our assets and 757.2 – 798.1 2.27 – 2.39 2.60 – 3.23 individual buildings, to mitigate including: • Wild昀椀re 66.9 – 71.4 0.2 – 0.21 0.34 – 0.42 – Upgrading 昀氀ood adverse e昀昀ects protection • Tropical -0.1 – 0.5 -0.0029 – -0.0007 – measures and alert cyclones -0.001 -0.001 systems – Glass façade inspections – Smart Monitoring Systems Chronic • Extreme • Lower -597.7 – -1.79 – -1.60 -2.31 – -2.24 • Chiller e昀케ciency temperatures productivity due -534.8 improvements and heat stress to extreme heat • Energy E昀케ciency • More spending Policy on cooling • Health & Safety Policy • Water stress • Decreased 6.5 – 15.2 0.02 – 0.05 0.02 – 0.04 • Conduct water production risk assessments volume due to (Source Vulnerability reduced water Assessments (SVAs)) supply for all bottling plants • More spending • Prepare and to improve implement Water Management Plans water e昀케ciency of our assets for all sites SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 17

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD Key climate-related transition risks Risk category Risk Financial implications Time horizon Mitigation strategies Policy • Carbon pricing for • Carbon taxes and • Short- • Implementation of internal carbon regulations manufacturing and more spending on Medium- pricing term • Developing Group Carbon Removal construction o昀昀sets Strategy • More ambitious • More spending to • Short- • In-line with the NDCs from Hong Kong national improve energy Medium- and the Chinese Mainland we have term committed to achieving Net-Zero by decarbonisation e昀케ciency plans 2050 and on reducing our scopes 1 and 2 emissions by 50% by 2030 • Tighter building • More spending on • Medium- • Sustainable Building Design Policy energy codes compliance term requires all new buildings with construction 昀氀oor area (CFA) of more than 5,000 m2 to obtain a minimum of the second highest relevant grade or above under an internationally or locally recognised Green Building certi昀椀cation – In 2022, 100% of new projects under development achieved the highest green building rating and 96% of existing buildings were certi昀椀ed green buildings • Energy E昀케ciency Policy commits our businesses to adopt industry best practices to improve energy e昀케ciency in their operations Technology and • More use of green • More spending on • Short- • Swire Paci昀椀c Sustainable Development innovations and low-carbon technology Medium- Fund - Up to HK$100 million is available technology term annually to support projects that reduce the carbon, water, and waste footprints of our operating companies, in line with our targets. Since 2019, a new funding stream was created to support trials of innovative green technology solutions • Our Internal Carbon Pricing Model includes a carbon fee which is based on the most recent 昀椀nancial year’s operational emissions and will fund decarbonisation projects • More use of • More spending on • Short- • Swire Paci昀椀c SD Fund has to date Renewable Energy renewable energy Medium- funded nearly 5 million kWh of onsite RE systems term generation (RE) • Renewable Energy Targets: – Swire Coca-Cola has committed to 100% RE by 2026 – Swire Properties aims to generate 4-6% of landlord’s energy from on-site RE sources in selected new developments Reputational • Increased • Less revenue due • Medium- • Have short-medium-term targets damage reputation and to changes in what Long-term as well as the longer-term Net Zero litigation risks consumers want commitment • Greenwash • Litigation costs • Developing Climate Transition Action accusations Plan to outline our roadmap out to our net-zero target • Regularly report on our performance against targets • Both Swire Coca-Cola and Swire Properties decarbonisation targets have been approved by SBTi SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 18

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD Key climate-related transition risks Risk category Risk Financial implications Time horizon Mitigation strategies Markets • Increase in • Higher insurance • Medium – • Conducted detailed physical climate risk insurance premiums costs Long-term assessment of our assets • Our business continuity plans cover extreme weather events • Swire Properties integrates sustainability criteria into the risk assessment process for new acquisitions Investments Due to the high levels of associated emissions in our aviation investments, we have included a summary of their potential climate-related risks. Risk category Risk Financial implications Time horizon Mitigation strategies Physical risks Acute • Coastal 昀氀ooding • Flight delays and • Long-term • Majority of their 昀氀ights are to or diversions due from the Hong Kong International Airport (HKIA). They work closely with to 昀氀ooding at airports, customer the Airport Authority of the Hong compensation and Kong International Airport (AAHK) in physical damage to assessing medium to long-term climate aircraft and other resilience at HKIA assets • Tropical cyclones • Flight delays and • Long-term diversions, customer compensation and physical damage to aircraft and other assets. (e.g. hangars at airports) Chronic • Extreme • Lower productivity • Long-term temperatures and due to extreme heat heat stress • Restrictions on working outside Transition risks Policy & • Carbon pricing for • Carbon taxes and • Medium - • Fuel e昀케ciency improvements regulations aviation more spending on Long-term • Fleet renewal • Committed to using Sustainable Aviation o昀昀sets Fuel (SAF) for 10% of their jet fuel Reputational • Vili昀椀cation of • Less demand for and • Medium - consumption by 2030 damage aviation – 昀氀ight therefore revenue Long-term • Invested in SAF manufacturer Fulcrum shaming from air travel Bioenergy • SAF o昀昀take agreements in place with Markets • Changes in demand • Less demand for • Medium - several suppliers for products and and therefore Long-term • Corporate Sustainable Aviation Fuel services revenue from air Programme travel, particularly from executives doing more video conferencing SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 19

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD Key climate-related opportunities Opportunity category Opportunity Financial implications Time horizon Strategy Businesses where we have operational control Resource • Use of more • Lower operating • Short – • Swire Properties has an Energy Use costs because Medium- Intensity target for its operations and e昀케ciency e昀케cient production and of higher energy term provides free energy audits for tenants • Swire Coca-Cola has both Water and distribution e昀케ciency processes Energy Use Intensity targets to drive operational e昀케ciencies Products and • Increased market • Increased revenue • Medium – • Sustainable Building Design Policy services demand for due to potentially Long-term • In 2022, 100% of new projects under climate-resilient, higher demand of development achieved the highest green energy green building green building rating • Increased revenue e昀케cient buildings due to shifts in market preferences Markets • Sustainable • Diversi昀椀ed 昀椀nancing • Short – • Sustainable 昀椀nance represented more sources Medium- than 35% of total 昀椀nancing across the 昀椀nancing • Attract green term Group at the end of 2022 (Sustainable Linked investment • Swire Properties targets for at least 80% Loans and Bonds, Green Bonds) • Lower costs of of its bond and loan facilities to come capital from green 昀椀nancing by 2030 • Around 61% of Swire Properties current 昀椀nancing is from green bonds, green loans, and sustainability-linked loans Investments Resource • Use of more • Lower operating • Medium- • Fleet renewal – adding more fuel- costs because term e昀케cient aircraft e昀케ciency e昀케cient modes of transport of higher energy e昀케ciency Energy source • Use of lower- • Increased revenues • Long-term • Committed to using Sustainable Aviation emission sources of from increased Fuel (SAF) for 10% of their jet fuel energy demand for products consumption by 2030 and services Products and • Development and/ • Increased revenues • Short-term • Fly Greener provides their customers services or expansion of low resulting from an opportunity to o昀昀set their carbon emission goods and increased demand emissions from air travel services for products and • Corporate Sustainable Aviation Fuel services Programme • We are working on a methodology to Describe the resilience of the • Our analysis shows that there is an quantify the 昀椀nancial implications of organisation’s strategy, taking into overall low to moderate risk of physical climate change to our mobile assets, consideration di昀昀erent climate- climate impacts for our global portfolio such as aircraft. related scenarios, including a 2°C or of assets, in all assessed climate • See the 2022 sustainability reports of lower scenario. scenarios. This is attributed to the strength of our adaptive capacity and Swire Properties, Cathay Paci昀椀c and • We are assessing the implications of Swire Coca-Cola for details of their mitigation measures. di昀昀erent long-term climate scenarios. climate risk assessments. Our Sustainable Development O昀케ce • Similarly, the analysis shows our and risk functions are working together business and sustainability strategies to assess the robustness of our allow us to e昀昀ectively manage the risks climate strategy and the uncertainties associated with a transition to a net associated with its execution. zero economy. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 20

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD Describe the organisation’s processes the fee will be directed towards Risk management for managing climate-related risks. decarbonisation projects that drive or • Our Climate Change Policy deals with provide additional carbon reduction. decarbonising our businesses and Describe the organisation’s processes – Shadow Carbon Price: Applicable for identifying and assessing climate- managing and adapting to climate risk. to future investment decisions and related risks. • Through the ISO 14001 Environmental planning for future projects. It is • We are assessing how vulnerable Management System and ISO 50001 a tool used to reveal hidden risks Energy Management System, we and opportunities throughout our our businesses are to 昀氀ood, heat manage our operational risks related operations and to support strategic stress, water stress and extreme to climate change, carbon and energy decision making related to future weather events. management. For example, our Property capital investments. • We are using the Climanomics tool Division manages its daily operational developed by The Climate Service risks related to climate change, carbon • To reduce embodied carbon from its development projects and construction (TCS) to assess the climate risks to our and energy management. As of 31st activities, our Property Division has businesses and the resulting 昀椀nancial December 2022, approximately 80% implications established performance-based targets of its properties (measured by GFA) in on embodied carbon for concrete, rebar Hong Kong and the Chinese Mainland – W e have assessed the physical and structural steel for future projects in climate-related risks to and are certi昀椀ed to the ISO 14001 and ISO opportunities for over 850 of the 50001 management systems. Hong Kong. They have also speci昀椀ed that low-carbon materials should be adopted Group’s most valuable assets (by • We have set ambitious 2030 in their projects, such as concrete with insured value), under four climate decarbonisation targets (see metrics pulverised fuel ash or ground granulated change scenarios (RCP 2.6, 4.5, 6 and targets section below). Our blast-furnace slag, rebar and structural and 8.5). This data has allowed us goal is to achieve net zero carbon steel with recycled content, and the to accurately evaluate the exposure emissions by 2050. optimisation of structural design to of speci昀椀c assets and operations • Our sustainable development minimise material consumption. in selected timeframes, from the fund (SD Fund) makes available • Swire Properties is a leader in intermediate (2030) to the long- up to HK$100 million per year for developing certi昀椀ed green buildings term (2050). sustainable development projects. that are energy-e昀케cient and low- The money is available for investments – We have considered the impact of carbon by design and in operation. carbon pricing transition risks based in sustainability technologies and At the end of 2022, 94% of its wholly on the carbon pricing models included solutions that would not otherwise owned existing buildings have been in IPCC Shared Socioeconomic meet our 昀椀nancial targets. In 2022, certi昀椀ed as green buildings under HK Pathways SSP3-60 and SSP3-45. we funded trials of new technologies BEAM, BEAM Plus, LEED, WELL, China intended to help our operating Three Star or Green Mark independent – In 2022/23, via the Climate and TCFD companies meet their carbon, water and rating systems. Of these, of which 98% working groups we are working with a waste targets. consultancy to incorporate the results have achieved the highest ratings. from the Climanomics assessment • Our business continuity plans cover 100% of wholly owned projects under into a broader climate scenario extreme weather events. We have development have achieved green a Business Recovery Plan in place to analysis. A summary of the results of building certi昀椀cation ratings. this exercise will be made available in ensure that we maintain critical crisis • Since 2011, Swire Properties has future sustainability reports. planning and execution capabilities in worked with Tsinghua University’s the event of major incidents, including Joint Research Centre for Building – The 昀椀ndings will be incorporated into extreme weather events. Swire the Group’s ERM system. E昀케ciency and Sustainability, to develop Properties has local crisis response plans and test methods to increase energy for all its buildings. • Swire Properties has conducted detailed e昀케ciency and improve environmental asset-level assessments to evaluate • In 2023, we will be piloting the use of performance in our businesses. This the degree of sensitivity and adaptive internal carbon pricing (ICP) within collaboration continues to generate capacity of individual developments Swire Properties, Swire Coca-Cola and substantial energy savings and allows under the potential impacts of climate HAECO. These companies, collectively us to communicate and share new ideas change. These assessments consider account for over 94% of our scopes 1 and practices with our employees, system robustness such as existing and 2 emissions. We have adopted a business partners, industry peers and hybrid ICP model which includes: other researchers. 昀氀ood prevention systems and façade conditions; system redundancy, such • Swire Properties integrates as the capacity of chillers and water – Carbon Fee: By linking each unit sustainability criteria into the supply; and susceptibility to past of CO₂ emissions to a 昀椀xed cost, our business units will be further risk assessment process for new extreme weather events. incentivised to integrate low-carbon acquisitions, including climate considerations into their business adaptation and resilience, 昀氀ood risk decisions. The funds raised through assessment, energy e昀케ciency and carbon emissions. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 21

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD • Swire Coca-Cola has identi昀椀ed a ‘next • We support the e昀昀orts of the Hong Metrics and generation’ Cold Drinks Equipment Kong Business Environment Council to targets promote awareness of climate change in (Vending Machines, Fridges etc.) that uses 50% less energy compared with the the business community through their Disclose the metrics used by the current equipment. Implementation of Net Zero Charter. organisation to assess climate-related this new equipment across the Chinese Describe how processes for risks and opportunities in line with its Mainland, will result an estimated identifying, assessing and managing strategy and risk management process reduction in scope 3 emissions by 2030 that equates to just over a third of the climate-related risks are integrated We measure: overall reductions required to meet its into the organisation’s overall risk • The methodology used to calculate management. the below KPIs can be found in our Science Based Target (SBT). Reporting Methodology document. • Swire Coca-Cola has committed to • Climate-related risks are identi昀椀ed sourcing 100% Renewable Energy and managed as part of our ERM • The metrics used by our operating by 2026. They are investing in solar system at both a Group and Operating companies can be found in their own company level. sustainability reports. photovoltaic (PV) systems on their sites and purchasing renewable energy from • Climate change has been identi昀椀ed electricity retailers and utilities. In 2022, as one of our top ten risks in our 21% of their total electricity use was Group risk register. Climate risk, along Further reading from renewable sources. with all other top risks, are reviewed by the Risk Forums and the Group Swire Paci昀椀c Annual Report – Risk • Swire Coca-Cola uses independent Risk Management Committee on a management third parties to assess water risk quarterly basis. for its bottling plants, so as to form source vulnerability assessments. • More details on our approach to risk management can be found in the risk Explore more The 昀椀ndings are integrated into source water protection plans and are management section of this report and ESG risk management regularly reviewed. the risk management section of the Annual Financial Report. Metric Unit of measure 2019 2020 2021 2022 Carbon emissions (scope 1 and 2) – Tonnes of CO e - 763,000 662,000 569,000 2 market-based method Carbon emissions (scope 3) Tonnes of CO e - - - 7,381,000 2 Total electricity used by the Group Million kWh 1,409 861 828 755 Total renewable electricity generated Million kWh 16.2 20.7 20.5 22.0 on our sites Total renewable electricity procured Million kWh 0 11.5 103.0 126.1 % of total electricity used by the Group, % 1.1 3.6 13.0 16.8 generated from renewable sources Proportion of Group 昀椀nancing from % - 14.6 18.1 >35 sustainable 昀椀nance Proportion of existing buildings which are % 97 97 96 96 certi昀椀ed green buildings* Proportion of projects under development which % 100 100 100 100 are certi昀椀ed green buildings* Gross rental income contributed by certi昀椀ed % >95 >98 >98 >98 green buildings* *Includes portfolios under Swire Properties only. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 22

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Our approach ESG risk management TCTCFFDD Disclose scope 1, scope 2, and, if • Swire Properties and Swire Coca-Cola appropriate, scope 3 GHG emissions, have signed up to Business Ambition and the related risks. for 1.5°C. • We measure and report our energy • We encourage the use of renewable consumption and the scope 1, 2 and energy. Our Beverages Division have some scope 3 carbon emissions from committed by 2026 to have transitioned our operations in accordance with the to electricity derived from 100% listing rules of The Stock Exchange of renewable energy for core operations. Hong Kong Limited and in line with the Renewable electricity accounted for GHG Protocol. 16.8% of the Group’s total electricity Describe the targets used by the usage in 2022. organisation to manage climate- • In 2022, we conducted a scope 3 related risks and opportunities and mapping exercise to identify the performance against targets. material scope 3 emission categories • Our operating companies’ targets are for inclusion in our scope 3 emissions science-based targets or are set by inventory. We calculated our scope 3 emissions in alignment with the GHG reference to Nationally Determined Protocol Corporate Value Chain (Scope Contributions (NDCs) or, in the case of 3) Standard. Please refer to the climate our aviation businesses, international change section for more details. industry commitments. • Swire Properties was the 昀椀rst real • Cathay Paci昀椀c (our investment in estate developer in Hong Kong and the the aviation sector) has set emission Chinese Mainland to set science-based reduction targets for 2030 and has the goal of achieving net zero targets. The targets are these: carbon emissions by 2050. It targets – Reduce absolute scope 1 and 2 GHG for sustainable aviation fuel (SAF) emissions by 25% by 2025 (compared to constitute 10% of its total fuel to a 2019 baseline) consumption by 2030. – Reduce scope 3 GHG emissions from downstream leased assets by 28% Further reading per sqm by 2030 (compared to a 2018 baseline) Reporting Methodology – Reduce scope 3 GHG emissions from Sustainable development reports capital goods by 25% per sqm by 2030 of our operating companies (compared to a 2016-2018 baseline) • Swire Coca-Cola’s science-based targets (approved by SBTi in 2020) are: Explore more – By 2030, reduce carbon emissions by 70% in its core operations (scope 1 Climate and 2) from a 2018 baseline – By 2030, reduce carbon emissions by 30% from its value chain (scope 1, 2 and 3) from a 2018 baseline SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 23

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices OvOveerrvivieeww Climate Waste Water People Communities SwireTHRIVE Overview We believe that when the world in which we operate thrives, so do we. Swire has a longstanding commitment to sustainable development. We aim to create long term value for our shareholders. We recognise that our success in doing so is dependent on our people, the communities in which we operate, and the natural environment. The SwireTHRIVE sustainable development strategy provides a group level framework that facilitates collaboration among our operating companies with a view to achieving common goals. It helps us to communicate more clearly what we stand for and what we do. SwireTHRIVE comprises 昀椀ve priority areas where, as a group, we aim to mitigate operational risk and build long term resilience for our businesses by improving standards and e昀케ciency and by innovation. Our priority areas Our commitments Our progress Decarbonise our business 50% reduction in scope 1 and 2 19% compared with our baseline and build climate resilience emissions by 2030, and Net Zero by 2050 Turn today’s waste into 65% waste diverted from land昀椀ll 59% waste diverted from land昀椀ll tomorrow’s resource by 2030, and a Zero Waste to in 2022 Land昀椀ll by 2050 Use and manage water 30% reduction in water withdrawal 11% compared with our baseline responsibly from a 2018 frozen e昀케ciency baseline by 2030, and Water Neutrality by 2050 Foster a corporate culture 30% women in senior leadership 24% women in senior leadership that is accessible, inclusive roles by 2024 roles and safe 30% women on Board by 2024 28.6% women on Board Position our community to partner with local HK$124 disbursed since launch initiative as part of our core TrustTomorrow organisations and drive lasting million business value positive change SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 24

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities SwireTHRIVE – CLIMATE Decarbonise our business and build climate resilience CO emissions 2022 Group carbon footprint 2022 Progress against targets 2 4.2% 1.4% 649,000 9.0% 30.2% 2022 2030 2050 tonnes -19%* -50%* Net zero 11% reduction from 2021 728,000 tonnes 55.1% *Compared with 2018 baseline The scienti昀椀c reality of climate change Our approach Swire Properties and Swire Coca-Cola have is being felt increasingly by communities We are committed to play our part to set science-based targets aligned with the globally. To avert the worst e昀昀ects of limit global temperature rise to 1.5°C, in 1.5°C pathway and approved by Science the rapidly changing climate, the world line with the Paris Agreement. Progress Based Targets Initiative (SBTi). Both needs to limit global temperature rise to requires technological advancements, companies have signed up to Business 1.5°C and transition to a net zero carbon mature markets, and enabling policy Ambition for 1.5°C. emissions economy by 2050. environments. Our strategy is to support To reduce emissions, we are: Failure to mitigate climate change, or their development. adapt to it, represent the two most SwireTHRIVE and our Climate Change severe global risks over the next decade, Policy outline what we will do to underscoring why the Group has identi昀椀ed reduce our emissions and adapt to it as a key risk. According to the World climate change. Improving energy Using more e昀케ciency renewable energy Meteorological Organization (WMO), the chance of breaching the 1.5°C target before 2030 stands at 50%. Every fraction Reducing GHG emissions of a degree counts. CO 2 Our ambition is to achieve net zero Our businesses will be a昀昀ected by climate change directly and by governmental and emissions by 2050. This will not be easy. Choosing low-carbon Encouraging our suppliers and regulatory mitigation and adaptation We operate and invest in the carbon and energy e昀케cient products customers to responses. Decarbonising our operations intensive aviation sector, which is di昀케cult decarbonise in all sectors where we operate is a to decarbonise without breakthroughs in strategic imperative. We must also reduce alternative fuel technology. The Group and its operating company value chain emissions and strengthen our Our interim target is to halve our scope 1 Swire Properties both received an A- resilience to climate impacts. and 2 emissions by 2030, compared with a rating in the 2022 CDP Climate Change 2018 baseline. Each of our businesses has questionnaire. individual targets aligned with science, nationally determined contributions, or international industry commitments. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 25

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities In addition to investments already made by our businesses, we are implementing Total GHG emissions (scope 1 and 2) by division 2022 Property e) Beverages (thousand tonnes CO two key tools to 昀椀nance and accelerate 2 emissions reduction. Since 2019, our Aviation Scope 1 9.9 Scope 2 186.0 Trading & Industrial HK$100 million Sustainable Development fund has supported trials of innovative Marine Services green technology solutions, with a view Scope 1 79.8 Scope 2 278.2 to accelerating their adoption at scale. In 2022, the Board approved a hybrid model Internal Carbon Pricing (ICP) which will be piloted in 2023. Read more in Looking Scope 1 15.2 Scope 2 43.5 Forward in the Climate section. Carbon removal and veri昀椀ed carbon Scope 1 6.2 Scope 2 21.1 o昀昀sets will form part of our strategy, particularly in aviation where low-carbon solutions are not yet available at scale. But Scope 1 9.3 Scope 2 0.1 our priority is to reduce our absolute GHG emissions as much as we can 昀椀rst. Group performance: scope 1 and 2 0 50 100 150 200 250 300 350 400 emissions The Group generated 649,000 tonnes of scope 1 and 2 GHG emissions in 2022, a Scope 2 GHG emissions by division Property 11% decrease from 2021. The Beverages Beverages (thousand tonnes CO e) and Property divisions accounted for 2 Aviation more than 80% of the Group’s emissions Trading & Industrial in 2022. Swire Properties absolute GHG Marine Services emissions decreased by 1%, while Swire 2.8 2.7 Coca-Cola’s emissions decreased by 37 28 2.6 0.1 8%. Swire Properties has implemented 57 55 23 1.4 21 275 267 47 24 44 energy saving measures into their HVAC 205 218 273 44 278 system of their Hong Kong portfolio, set 204 256 186 187 strict control for the circulation pumps of the heat-pump system at Taikoo Li Sanlitun, Beijing, and decreased electricity usage for HKRI Taikoo Kui and Taikoo Hui Guangzhou. Swire Coca-Cola has procured renewable energy in Chinese mainland, and commenced numbers of solar PV installation projects for the sales and 2018 2019 2020 2021 2022 distribution centers in the US. The emissions of our Aviation division and Trading & Industrial division decreased by decrease of 5% from 2021. This is largely 5% and 6% respectively compared with contributed by the improvement in Further reading 2021. This was in part due to COVID-19 energy e昀케ciency in Chinese Mainland for Climate Change Policy related reductions in business activity, the Beverages division. Reporting Methodology reduced 昀氀eet size, replacement of old machineries and its components to The Group generated 649,000 tonnes of GHG emissions in 2022, a 11% improve the production e昀케ciency. For full details of the scope of our data, decrease from 2021. Explore more please see our Reporting methodology. Our Approach Electricity consumption is our largest 11% source of GHG emissions. We used almost 900 million kilowatt-hours of electricity in 2022 and generated 529 thousand tonnes of indirect (scope 2) emissions, a SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 26

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities Swire Coca-Cola partnered with Tsinghua Progress towards 2030 target University to install more energy e昀昀ective Absolute scope 1 and 2 (thousand tonnes CO e) compressed air and chilling systems at 2 its Jinqiao Shanghai plant. In 2022, the 782 completion of the project resulted in a 734 610 saving of 2.6 million kWh of electricity. 560 In the Chinese Mainland, it has identi昀椀ed energy e昀케ciency projects that could 344 save 8,810 MWh per year and earmarked a budget of over RMB 30 million to cut its energy usage per litre of product produced by 5% in 2023. 100% of its 2018 (Baseline) 2020 2021 2022 2030 2050 bottling plants are certi昀椀ed ISO 14001. Performance Targets 2030 target energy e昀케cient models. In 2022, Swire Renewable energy Properties continued to optimise Shifting our energy mix to renewable By 2030, we aim to reduce our scope 1 heating, ventilating, and air conditioning sources is a crucial part of our and 2 emissions by 50%, compared with decarbonisation strategy. We encourage 2018 levels. In 2022, we achieved a 19% systems, installed high-e昀케ciency chillers, our businesses to explore opportunities to reduction compared to our baseline. and conducted energy-saving retro昀椀ts across its properties. Approximately generate and purchase more renewable Based on our 2030 projections, we electricity (RE). Swire Properties and Swire surpassed our 8.9% target reduction 86% of its assets (by gross 昀氀oor area) in Hong Kong and the Chinese Mainland are Coca-Cola have set RE targets. for 2022. certi昀椀ed to the ISO 14001 and ISO 50001 More than 22 million kWh of electricity standards for environmental and energy was generated from renewable sources management. at Swire Properties, Swire Coca-Cola Energy e昀케ciency As the cost of electricity rises, making our Swire Properties continues to roll out a and HAECO in 2022, representing a 7% buildings and operations more energy cloud-based smart energy management increase from 2021. platform across all its properties in Hong Swire Coca-Cola is investing in solar e昀케cient is a priority. Kong and the Chinese Mainland. Originally photovoltaic (PV) systems on its sites in developed with Schneider Electric as Hong Kong, Mainland China and in the a recipient of the Group’s Sustainable US, and purchasing RE from electricity Designing e昀케cient buildings Development Fund, the platform uses retailers and utilities. In the Chinese Our Sustainable Building Design the Internet of Things, big data analysis, Policy requires new and substantially Mainland, four more facilities secured arti昀椀cial intelligence, and cloud computing renovated buildings to obtain the o昀昀site RE agreements this year. Its to generate energy saving insights and plants in Yunnan, Hangzhou, Hubei and highest or, as a minimum, the second optimise energy consumption. This year, highest international or local building Wenzhou now operate using 100% RE. the platform identi昀椀ed opportunities to Its Guangxi and Anhui plants use a partial environmental certi昀椀cation. achieve a 50% reduction in energy use RE mix. At its Hong Kong plant, a newly At the end of 2022, 94% of Swire from air handling units serving the central installed rooftop PV system generates 31 Properties’ wholly-owned existing link bridge at Cityplaza, Hong Kong. MWh per year. In the US, the Sustainable buildings have been certi昀椀ed as green Swire Properties’ hotels use solar energy Development Fund will co-fund the buildings. Of these, 98% have achieved to heat up water in their kitchens, and installation of rooftop solar PV panels the highest ratings. 100% of its wholly- have induction cookers, variable speed at Swire Coca-Cola’s plant in Draper, owned projects under development have controls for kitchen exhaust fans, head Utah, which are expected to generate achieved green building certi昀椀cation recovery functions for gas cooking stoves, 4,500 MWh/year. In 2022, 21% of Swire ratings. Swire Coca-Cola has 昀椀ve LEED and electric conveyor dishwashers to Coca-Cola’s total electricity use was from certi昀椀ed bottling plants in the Chinese renewable sources. Mainland and the US. maximise kitchen energy e昀케ciency. At East Hong Kong, the completion of a decorative lighting replacement scheme Energy saving measures will reduce energy consumption from guest room lighting by 60%. Across the Group, we continued to upgrade our lighting, cooling, boiler, Four Swire Coca-Cola plants and and refrigeration systems to more Further reading three Swire Properties developments use 100% RE. Sustainable Building Design Policy HAECO has installed one of the largest PV systems in Hong Kong. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 27

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities Swire Properties procures 100% renewable electricity for Taikoo Hui, Sino-Ocean Taikoo Li Chengdu and The Temple House. At the end of 2022, its mix of renewable electricity in the Chinese Mainland stands at about 39%. One of Swire Properties’ 2025 KPIs is to generate 4-6% of the landlord’s building energy from renewable or clean energy sources in selected new o昀케ce developments. At Two Taikoo Place, it is installing solar PV panels, a wind turbine, and a waste-to-energy tri-generation system, which we estimate will supply renewable energy equivalent HAECO’s PV system at HKIA consists of approximately 6,000 solar panels. to approximately 6% of the landlord’s building energy. Case study HAECO – Completion of one of Hong Kong’s largest solar projects Low-carbon and energy e昀케cient products and materials This year, HAECO completed the tonnes of CO e per year, equivalent to 2 Since 2020, Swire Properties has installation of one of Hong Kong’s planting more than 48,000 trees. included low-carbon procurement largest solar photovoltaic (PV) systems. The array is situated on Surplus power generated by the speci昀椀cations – developed in accordance the rooftop of HAECO’s aircraft HAECO system will be sold to the local with international standards such as ISO 14067 – for construction materials such maintenance hangar No. 2 and 3 at the power companies under the Hong Hong Kong International Airport. With as concrete with pulverised fuel ash or Kong Government’s “Feed-in Tari昀昀” a total capacity of 3 megawatts, it is scheme with part of the income being ground granulated blast furnace slag, estimated that the system will result used to support WWF-Hong Kong. rebar, and structural steel with recycled in an emissions reduction of 1,000 content. It is the 昀椀rst real estate developer in Hong Kong to contractually require low- carbon building materials for new projects and is exploring extending this practice to its developments in the Chinese Mainland. Proportion of electricity consumed from renewable sources In 2022, six of its buildings won the “GBA Low Carbon Buildings Top 100 Award”, (million kWh) presented by the Greater Bay Area Carbon 952 903 Neutrality Association. 893 In Hong Kong, all new Swire Coca-Cola trucks use B7 biodiesel and comply with Euro VI emission standards. HAECO Total electricity used by the Group completed the upgrading of a fuel station Total RE generated on our sites Total RE procured to cater for the use of Biodiesel (B5). % electricity used by the Group These fuels are produced from waste that was from renewable sources cooking oil, animal fat, and other oils which can signi昀椀cantly reduce emissions. During 2022, HAECO replaced 60% of its 20.7 21 22 16.8% traditional diesel use to biodiesel in its 11.5 3.6% 103 13.0% 126 mini fuel station in Hong Kong. Combined 2020 2021 2022 with the use of Hong Kong International Airport’s airside fuelling station, Biodiesel represented 48% of HAECO’s Hong Kong 昀氀eet fuel consumption. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 28

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities Our emissions by scope 13 15 scope 1 1.5% scope 3 12 91.9% 11 scope 2 6.6% 7 5 6 4 3 2 1 Breakdown of value chain emissions by category 1 Purchased goods and services 34.1% 5 Waste generation 0.4% 12 End-of-life treatment of sold products <0.1% 2 Capital goods 1.1% 6 Business travel 0.1% 13 Downstream leased assets 16.3% 3 Fuel- and energy-related activities 7 Employee commuting 0.2% 15 Investments 33.0% (not included in scope 1 or 2) 1.5% 11 Use of sold products 11.0% 4 Upstream transportation 2.3% In Taiwan, Swire Coca-Cola’s Cold Drink Using 2022 data, our total scope 3 GHG space, identifying potential annual energy Equipment (CDE) team innovated a emissions is 7,381 thousand tonnes CO e. savings of 9.1 million kWh. It also procures 2 technology to retro昀椀t old CDE models to We identi昀椀ed value chain emissions from 100% renewable electricity for Taikoo Hui make them compatible with eco-friendly purchased goods and services (34%), in Guangzhou and Sino-Ocean Taikoo Li refrigerants. They are working with investments (33%), downstream leased Chengdu, and continues to look for other customers to transition all their CDE to assets (16%), and use of sold products opportunities to secure 100% RE for other use eco-friendly refrigerants by 2025. This (11%) as material. operations. is expected to reduce more than 1,030 Swire Paci昀椀c has a signi昀椀cant interest Embodied carbon in capital goods is tonnes of CO equivalent emissions. 2 in Cathay Paci昀椀c, and accounts for a a major source of emissions for Swire proportion of its GHG emissions under Properties. It uses software tools to Group performance: scope 3 our scope 3. This proportion is equivalent incorporate low-carbon considerations emissions to the Group’s shareholding interest in at the project design stage, sets the company. procurement speci昀椀cations for carbon More than 90% of our GHG emissions intensive key materials, and works with occur outside our direct operations. We do contractors to source these materials not control these assets and activities, but Decarbonising our chain and optimise energy management on its through our decisions and relationships Swire Properties has established science- construction sites. we can work to reduce material scope 3 based reduction targets to reduce the emissions. Emissions from packaging and the emissions generated by capital goods electricity consumed by its cold drinks In 2022, we conducted a mapping and downstream leased assets, its two equipment (CDE) accounts for around 60% exercise to identify material sources most signi昀椀cant categories of scope 3 of Swire Coca-Cola’s total value chain of emissions in our investments and in emissions, by 25% and 28% per square emissions. the value chains of our businesses. All metre respectively by 2030. scope 3 categories were assessed to To meet its 2030 target, Swire Coca- understand what is important, applying Tenant electricity consumption accounts Cola needs to reduce its emissions from for 50% of its total building energy packaging by increasing its recycled a materiality threshold de昀椀ned as 5% of consumption. Swire Properties helps content and promoting post-consumption total scope 3 emissions, and in accordance tenants to reduce their electricity use recovery and recycling. Since 2021, it has with the Corporate Value Chain (scope 3) Accounting and Reporting Standard. by o昀昀ering free energy audits. Since used 100% recycled PET for Bonaqua Primary data was supplemented with 2008, free energy audits have covered water bottles in Hong Kong. In 2022, secondary data when necessary. 5.8 million square metres of commercial SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 29

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities recycled aluminium constituted 3.2% Scope 3 emissions by division are included In 2022, we reviewed our approach, the in the Appendices. Further information is of cans in Chinese Mainland and 72% of carbon o昀昀set market, and emerging cans in the US. It has redesigned the label available in the sustainability reports of standards including the Core Carbon length of several aseptic PET products in our operating companies. Principles developed by the Integrity Hong Kong to encourage recycling. Council for the Voluntary Carbon Market. With proactive collaboration between We are producing guidelines for our its procurement team and beverage Explore more operating companies to standardise and guide decision making on o昀昀setting cooler suppliers, it has identi昀椀ed ‘next Performance data across the Group. generation’ CDE that uses 50% less energy compared with current equipment. All its TCFD Our evolving approach builds on our existing Carbon O昀昀setting Policy, which new CDE will have high energy e昀케ciency Risk management ratings and use natural refrigerants. As has been in place since 2009. Under the the new technology is phased-in across current policy, all Swire Paci昀椀c subsidiaries the Chinese Mainland, it will result an are required to o昀昀set the emissions estimated reduction in scope 3 emissions Further reading associated with sta昀昀 business air travel. by 2030 that equates to just over a third of O昀昀sets purchased must, at a minimum, meet the Veri昀椀ed Carbon Standard or the overall reductions required to meet its Cathay Paci昀椀c Sustainable Development Report 2022 Gold Standard. In 2022, we purchased Science Based Target (SBT). Cathay Paci昀椀c has committed to Swire Properties Sustainable more than 154 tonnes of carbon o昀昀sets achieving net zero carbon emissions by Development Report 2022 through Fly Greener. 2050, and for sustainable aviation fuel Swire Coca-Cola Sustainable We have owned and managed a Verra certi昀椀ed carbon o昀昀set REDD+ project (SAF) to constitute 10% of its total fuel Development Report 2022 consumption by 2030. Its carbon reduction in Paraguay since 2010. The project is designed to generate 10,000 carbon strategy includes modernising its 昀氀eet credits per year for 20 years. The Veri昀椀ed to improve fuel e昀케ciency, improving O昀昀sets Carbon Units (VCUs) are dual accredited operational e昀케ciency, and providing Gold under both the Veri昀椀ed Carbon Standard Standard accredited o昀昀sets through its Carbon o昀昀sets can play a vital role in Fly Greener programme. our net zero strategy as they allow us to (VCS) and the Climate, Community and compensate for hard to abate emissions Biodiversity Standard (CCB). See the To support Cathay Paci昀椀c in creating Biodiversity section for more information. within our value chain and emissions from demand for SAF, Swire Paci昀椀c supported technologically constrained sectors. the launch of the Cathay Paci昀椀c Corporate Sustainable Aviation Fuel Our net zero commitment aligns with the Adaptation (SAF) Programme. We contributed to the purchase of internationally recognised approach de昀椀ned by the Science Based Targets initiative’s (SBTi) Corporate Net- We need to prepare for the physical risks SAF, along with Cathay Paci昀椀c’s other founding partners, which will be Zero Standard and references the Institute of climate change. This means designing of Environmental Management and buildings capable of withstanding used to power Cathay Paci昀椀c 昀氀ights. Assessment’s carbon mitigation hierarchy. extreme weather. Airports where we Through its programme, Cathay Paci昀椀c We aim to reduce our scope 1 & scope 2 operate must be prepared to deal with the will issue veri昀椀ed emissions reduction GHG emissions by 95% and scope 3 by 90% consequences of rising sea levels. Climate certi昀椀cates and proof of sustainability before purchasing high quality third-party change can disrupt our operations and to its customers, including Swire Paci昀椀c, reducing our scope 3 carbon emissions. accredited o昀昀sets to reach our goal. supply chains. Our approach contrasts with carbon Stabilising global temperature increase See Cathay Paci昀椀c’s Sustainable Development Report 2022 for details. neutrality which we de昀椀ne as at 1.5°C will require drastic action far counterbalancing CO emissions (not beyond business as usual. Businesses Representatives from our operating 2 necessarily all GHG emissions) with will be expected to reduce emissions companies are active members of our SwireTHRIVE working groups and carbon o昀昀sets without having reduced and to limit and adapt to climate emissions by an amount consistent with change, which is likely to lead to stricter committees, and bene昀椀t from the reaching net-zero. regulation and potentially carbon taxes. collective experience, expertise and best practice sharing between our Energy availability and a昀昀ordability will companies. We also support carbon and be a昀昀ected. Regulators and investors waste reduction projects through our increasingly expect companies to measure Sustainable Development Fund. and report their exposure to climate risks to avoid 昀椀nancial shocks. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 30

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities We have a climate working group, which Building adaptive capacity Swire Properties is committed to exploring supports the implementation of our We want to improve the capacity of new procurement options for o昀昀-site Climate Change Policy and the delivery our businesses, our employees, and the renewable energy for our portfolio, where of our climate change related targets communities in which we operate to feasible. Since 2021, Taikoo Hui Guangzhou and commitments. A TCFD working adapt to climate change. This involves became powered by 100% renewable group comprising sustainability, 昀椀nance having, and helping to provide access to, electricity, joining Sino-Ocean Taikoo Li and risk team members was formed in information, skills, and physical resources. Chengdu in achieving net-zero carbon 2020. It is developing Group disclosure in its annual electricity consumption for guidelines, reviewing information about Swire Paci昀椀c, Swire Properties, and both landlord and tenant operations risks, and determining a timeline for full Swire Coca-Cola support the Business and setting a new standard for the real disclosure to TCFD. Environment Council (BEC) Low Carbon Charter in Hong Kong. estate sector in Asia. In 2022, Taikoo Li We have assessed the physical risks that Sanlitun became our third portfolio in the Swire Properties is a signatory to climate change poses to our businesses. Chinese Mainland to enter into an o昀昀-site We use a specialised cloud-based platform the Business Environment Council’s renewable electricity agreement, with (BEC) Power Up Pledge in Hong Kong, 15% of the landlord’s annual electricity provided by The Climate Service (TCS), which commits the company to sharing consumption from clean energy sources. now a part of S&P Global, to assess the knowledge and best practices and 昀椀nancial implications of climate-related collaborating to promote electri昀椀cation risks and opportunities under di昀昀erent of construction sites and transition away climate scenarios. The assessment helps from diesel generators. us to align our climate change disclosures with the recommendations of TCFD. In 2022, we developed a group-wide scenario analysis framework which will be used with our operating companies in scenario analysis workshops in 2023. See the TCFD section for more information. We require our operating companies to consider climate change risks when compiling their risk registers, and to take appropriate precautionary measures. Climate change is included in our risk register. Some of our operating companies build climate resilience into their operations. Swire Properties completed a study of its exposure to Case study risks and opportunities under di昀昀erent Swire Properties – Global AI Challenge Gold Award climate scenarios. The study indicated that its properties are exposed to low to moderate levels of physical risk, due to Swire Properties partnered with Swire Properties’ goal was to develop its relatively robust mitigation measures. a digital automation and energy an AI model to predict the cooling Improvements for individual buildings management company in the “Global demand of a commercial building. AI Challenge for Building Electrical and Out of 44 teams, its model had the were identi昀椀ed, including upgrading Mechanical Facilities”, held between greatest level of accuracy. The joint 昀氀ood protection measures and alert November 2021 and September 2022. team won a Gold Award and the Grand systems, chiller e昀케ciency improvements, glass facade inspections, and smart Organised by the Hong Kong Prize – the “Alliance Contracting monitoring systems. government’s Electrical and Outstanding Al In昀氀uencer Award’. Swire Coca-Cola assesses water access, Mechanical Services Department and The model is now being implemented quality, and quantity risks for all new the Guangdong Provincial Association in our Cloud-Based Smart Energy bottling plants. It has completed a risk for Science and Technology, the global Management Platform and can assessment using The Climate Service event was the 昀椀rst and largest AI accurately predict the cooling load in platform, details of which are included in event related to building electrical and our buildings 24 hours in advance. its Sustainable Development Report 2022. mechanical services. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 31

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities Swire Coca-Cola works with based on the most recent 昀椀nancial year’s governments and NGOs to protect local operational emissions and will fund water sources that may be at risk from decarbonisation projects. The shadow climate change or anthropogenic activities pricing mechanism will be applicable to and secure access to clean and safe water planned projects that exceed a threshold for communities in need. Its 昀氀agship value. In this way the ICP integrates CSR programme “Carbon Reduction carbon pricing in the decision-making Alliance” engages value chain partners in process for future operating company the Chinese Mainland, to reduce carbon, projects while facilitating progress and support local communities and towards our emissions goals. The ICP will biodiversity. Read more in Biodiversity. be trialled with Swire Coca-Cola, Swire Swire Coca-Cola also provides bottled Properties, and HAECO, which contribute over 80% of our operational emissions. water to people a昀昀ected by natural disasters as part of The Coca-Cola We will continue to strengthen our TCFD Company’s Clean Water 24 emergency reporting and will look to re昀椀ne our plan. Within 24 hours of a natural disaster, scope 3 emissions calculations for key Swire Coca-Cola will identify the nearest scope 3 categories. We will build on our warehouse and arrange delivery, in renewable purchasing guidelines and will collaboration with local governments, facilitate the sharing of information about supporting organisations and NGOs. renewable energy purchase agreements. Looking forward Further reading We are in the process of building on our Swire Paci昀椀c Annual Report 2030 decarbonisation plans by developing 2022 – Risk management a carbon transition action plan to achieve net zero by 2050. The implementation of the roadmap will Explore more be supported by Internal Carbon Pricing (ICP). In 2022, the Board approved an TCFD ICP model to be piloted in 2023. The hybrid model comprises a carbon fee and ESG risk management shadow pricing mechanism. The carbon fee for each operating company will be SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 32

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate WaWassttee Water People Communities SwireTHRIVE – WASTE Turn today’s waste into tomorrow’s resource Waste generated in 2022 Group waste footprint 2022 Progress against targets Marine Services Trading & 0.0% Industrial 2.0% Aviation 8.0% Property 66,645 51.5% 2022 2030 2050 tonnes -59%* -65%* Zero waste 89,227 to 25% reduction from 2021 tonnes land昀椀ll Beverages 38.4% *For subsidiaries covered by our target As the world’s population and a昀툀uence Our approach increases, so does waste. Land昀椀lls are By reducing and recycling our waste reaching capacity. States are imposing Reduce waste we lower the cost of packaging, waste at source regulations and 昀椀nancial penalties aimed management and disposal, and potentially at curbing waste generation. There is create new revenue streams. We aim growing public awareness of recycling Promote recycling, reuse and the need for responsible disposal to turn today’s waste into a resource and recovery in order to for tomorrow and to contribute to the divert as much waste as of materials. This is particularly true for creation of a circular economy. As a Group, possible from land昀椀ll plastics. There is a need to decouple we have set a goal of sending zero waste Manage hazardous and growth from the consumption of 昀椀nite potentially hazardous resources and keep resources in the to land昀椀ll by 2050. waste in an appropriate, loop for longer. Doing so will help Our Waste Management Policy sets out responsible and address challenges like climate change, the Group’s approach to managing and transparent manner biodiversity loss, and pollution. reducing waste across its operations. This is what we do: Reduce the impact of our beverage packaging Further reading Waste Management Policy Explore opportunities to contribute to the circular economy SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 33

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate WaWassttee Water People Communities Group performance Swire Properties’ waste diversion rate was 2030 target In 2022, the Group generated a total of 35% in 2022, compared to 29% in 2021. By 2030, we aim for 65% of our waste 66,645 tonnes of waste, 25% less than Tenants in Hong Kong and the Chinese to be diverted from land昀椀ll. The target in 2021. Of this, 96% was non-hazardous Mainland were encouraged to reduce and covers non-hazardous waste generated waste and 4% was hazardous waste. recycle waste. Swire Coca-Cola’s waste by operating companies, which together Overall, 59% of the total waste generated diversion rate was 90% in 2022, compared made up 99% of the Group’s total waste by the Group in 2022 was recycled, reused, to 88% in 2021. HAECO’s waste diversion footprint in 2022. Hazardous waste is or recovered. Our Property and Beverages rate increased from 41% in 2021 to 62% in not included in the target. It is treated in divisions accounted for 53% and 40% of 2022. It’s improvement is primarily due to line with local regulations. Subsidiaries the Group’s total non-hazardous waste in the improved waste recycling strategies covered by our target diverted 59% 2022 respectively. for wood and metal, and adoption of of their waste from land昀椀ll in 2022, an waste-to-energy in parts of its Chinese improvement from 52% in 2021. Based on Mainland operations. Trading & Industrial our 2030 projections, we surpassed our division’s waste diversion rate for 2022 51.2% waste diversion target for 2022. remain around the same as for 2021. Total waste generated by division 2022 Property Trading & Industrial Beverages Marine Services (tonnes) Aviation Non-hazardous waste Hazardous waste Non-hazardous waste Hazardous waste Non-hazardous waste Non-hazardous waste disposed 22,390 disposed 1 recycled 11,269 recycled 9 reused 18 recovered 644 Non-hazardous waste Hazardous waste Non-hazardous waste Hazardous waste Non-hazardous waste Non-hazardous waste disposed 2,413 disposed 121 recycled 18,233 recycled 106 reused 0 recovered 4,751 Non-hazardous waste Hazardous waste Non-hazardous waste Hazardous waste Non-hazardous waste Non-hazardous waste disposed 1,369 disposed 1,553 recycled 1,205 recycled 171 reused 0 recovered 1,042 Non-hazardous waste Hazardous waste Non-hazardous waste Hazardous waste Non-hazardous waste Non-hazardous waste disposed 33 disposed 349 recycled 858 recycled 77 reused 7 recovered 0 Non-hazardous waste Hazardous waste Non-hazardous waste Hazardous waste Non-hazardous waste Non-hazardous waste disposed 0 disposed 25 recycled 0 recycled 0 reused 0 recovered 0 0 10,000 20,000 30,000 40,000 50,000 Progress towards waste target 2022 2030 target Actual performance (% non-hazardous waste diverted from land昀椀ll) 65 59 52 42 38 40 2018 2019 2020 2021 2022 2030 target SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 34

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate WaWassttee Water People Communities Reduce waste at source Swire Resources supports the Hong The easiest way to reduce waste is not to Further reading Kong Green Building Council’s Green Shop use single-use materials and packaging, Alliance Programme. It avoids excessive Swire Properties Sustainable promotional decoration and packaging. where possible. We collect data about Development Report 2022 Since 2020, it has encouraged customers our waste. We try to take account of waste prevention when we design and to bring their own bags on its “No buy things. We encourage employees and Swire Hotels: Shopping Bag Day”. It will donate HK$0.50 customers to minimise waste. In 2022, Hotel Sustainability Technical to an environmental NGO for every bag- Guidelines were rolled out. free transaction on the second Tuesday of Our Waste Working Group has developed each month. It also donates all shopping an internal handbook on single-use bag levies collected on that day. plastics. It provides subsidiaries with information about di昀昀erent types Swire Hotels waste of plastics and alternative materials, reduction targets* Divert waste from land昀椀ll and guidance to inform procurement decisions. These include the need to We collect and sort di昀昀erent types of waste and work closely with recycling consider whether the material can be partners to provide credible outlets for recycled or composted, whether local 2025: achieve the recyclables we collect. recycling infrastructure exists to ensure 28% it is recycled, and whether there is We have implemented group standards for market demand for the recycled material, waste diversion rate waste separation at source. They require which would facilitate its collection the provision of separate receptacles and recycling. The handbook was also for 昀椀ve main categories of waste: paper, shared with members of our Supply Chain 2030: achieve metals, plastic bottles, general plastics, Working Group. and general waste. Glass and food 54% receptacles should be placed at strategic Swire Properties’ waste management waste diversion rate locations, where appropriate. Guidance on policy deals with the design, planning, the density and placement of receptacles construction, and operation of its *against a 2018 baseline for all hotels and residences, is provided. Three types of facilities are buildings. It evaluates the management except for The Middle House and EAST Residences of resources, analyses information about which use a 2019 baseline. covered by the standards, including: waste, and tries to promote the circular • Customer facing operations including economy. Tenants and other building shopping malls and hotels users generate over 90% of the waste • Further retro昀椀tted rooms with an • Non-customer facing operations generated in Swire Properties’ buildings. in-room water 昀椀ltration system, eliminating the need for plastic bottled including our o昀케ces, warehouses, Engaging with tenants is critical to water in rooms and reducing the use of and factories reducing waste. Swire Properties collects bottled water by at least 30%. • Premises let to third parties (tenants) data about more than 20 types of waste produced by tenants, hotel guests, and • The Temple House, The Middle House, Through our Waste Working Group, serviced apartment occupants. and EAST Hong Kong removed all Waste Separation Guidelines have single-use plastics – replacing all straws, been implemented across all operating In July 2022 in Hong Kong, the Green hampers, room amenity wrappers, and companies wherever possible, and many Performance Pledge (GPP) was o昀케cially toothbrushes with products made from have extended separation to include launched. It is a performance-based biodegradable materials. food waste. Having a consistent approach landlord-tenant partnership, focusing • Incorporated the updated Sustainable across the Group will prepare us for the on creating a signi昀椀cant impact in terms Procurement Policy and Sustainable city’s upcoming municipal solid waste of energy, water, and waste reduction. Food Policy into purchasing procedure charging scheme in 2023 and support This performance-based programme guidelines. This includes adhering to the materials supply to Swire Coca-Cola’s gives users access to an array of “green recycling joint venture New Life Plastics. three ‘R’s (reduce, reuse and recycle) tools” and enhances tenant-landlord and purchasing fresh produce from We engage our waste contractors and collaboration. Tailored SD o昀昀erings local suppliers to reduce the carbon landlords to send collected material to include Hong Kong’s 昀椀rst smart waste emissions from shipping food. recycling facilities. reduction monitoring system. Swire EAST Hong Kong also collaborated with a Properties aims to engage 50% of o昀케ce tenants in Hong Kong and the Chinese social enterprise dedicated to promoting Mainland in the GPP by 2025. urban farming in Hong Kong to build an urban garden in a corner of the hotel’s pool deck. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 35

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate WaWassttee Water People Communities Swire Coca-Cola aims to send no waste to land昀椀ll or incineration from its core operations by 2025 and for co-packers by 2030. This does not include waste generated from 昀椀nished goods. Last year, Swire Coca-Cola mapped out their total waste footprint, identi昀椀ed key waste streams and reviewed international best practices in waste management and reduction opportunities. In 2022, the waste diversion rate from core operations reached 90%. Swire Properties has a Resource and Circularity Policy. This policy guides its approaches to reducing waste, from the design and construction phases of Case study our projects to the daily operation and management of our buildings. In 2022, Swire Properties – Reusable Food Containers at Paci昀椀c Place Swire Properties diverted 25.4% of its In October 2022, Swire Properties A return machine was placed at commercial waste in its Hong Kong began supporting the city’s One Paci昀椀c Place to collect used portfolio, and 44.8% of its commercial 昀椀rst-ever closed-loop reusable containers that were then sanitised waste in the Chinese Mainland portfolio. packaging pilot programme, an and recirculated to the programme’s initiative launched jointly by a food For Swire Hotels, at The Temple House, restaurant partners. For the 昀椀rst three delivery platform and WWF-Hong months, we facilitated the collection EAST Beijing, and EAST Hong Kong, Kong, an environmental NGO, of over 160 containers. co昀昀ee drinkers now have the option of with funding from the Hong Kong purchasing a reusable cup instead of a government’s Environment and disposable one. The Eco-cup reduces cost Conservation Fund. and waste and saves customers money – when reusing the Eco-cup, they receive a discount on their drink purchase. HAECO Hong Kong segregates waste Food waste waste. In Hong Kong, 25 F&B tenants and sends waste wood to a recycler. 124 In 2022, Swire Properties, Swire Coca-Cola in Citygate joined the mall’s free food tonnes of wood were recycled in 2022. Hong Kong, and HAECO Hong Kong sent waste recycling programme, an increase It also sends waste lead acid batteries to 1,157 tonnes of food waste and organic of 32% from the previous year. Tenants specialised recyclers. This year, HAECO by-products to an organic resource also participated in a free co昀昀ee grounds Hong Kong completed a food waste recycling programme. The majority of collection scheme, which reduced food recovery centre (ORRC) for conversion food waste collected in Hong Kong is sent into compost and biogas. to the ORRC. Some properties also have waste to land昀椀ll by 15 tonnes. In 2022 in Hong Kong, it completed a waste audit to Swire Properties collected more than food waste digesters. map out waste composition and identify 8,290 tonnes of food waste from its Hong EAST Hong Kong partners with a local areas of improvement. Kong and Chinese Mainland portfolios and brewery to turn surplus bread from its its hotels. At Citygate Outlets, Cityplaza, restaurants into its own branded craft Working with NGOs, Swire Resources Island Place Mall, Paci昀椀c Place, and Taikoo beer. After the surplus bread is collected recycles Chinese New Year red packets, Place in Hong Kong, 75% of food and old books, clothes, and electronic waste. and delivered to the brewery, it is blended beverage tenants (measured by lettable into crumbs and used to replace a portion 昀氀oor area) recycled food waste, and 113 of barley malt. Following a two-month tenanted o昀케ce 昀氀oors participated in our fermentation process, the leftover food waste recycling programme. The breadcrumbs and grains are sent to a management o昀케ce and several retail local farm to be used as animal feed and outlets at Taikoo Li Sanlitun in Beijing fertiliser, promoting the idea of circularity. were featured in a programme produced This arrangement has saved approximately by Beijing Radio and Television Station 40kg of surplus bread. (BRTV) that explored the city’s ongoing e昀昀orts to reduce non-household kitchen SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 36

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate WaWassttee Water People Communities Recover and recycle In line with The Coca-Cola Company’s (TCCC) World Without Waste targets, Swire Coca-Cola has committed to collect and recycle one bottle or can for everyone it sells. With TCCC, it is working to put recycling instructions on its drink’s labels. It has formed a joint venture with ALBA Group Asia Limited and Baguio Waste Management & Recycling Limited to build and operate New Life Plastics, Hong Kong’s 昀椀rst food-grade ready plastics recycling facility. Case study Swire Properties – Continuous e昀昀orts to combat food waste In Hong Kong, Swire Properties Food waste is a signi昀椀cant component leverages a programme funded of the waste sent to land昀椀ll in Hong Kong. Since 2005, when Swire by the Hong Kong government’s Environment and Conservation Fund Properties installed our 昀椀rst food decomposer at one of its Hong Kong to promote food waste recycling shopping malls, it has been working amongst its tenants. In 2022, 75% of with its hotels, restaurants and its F&B tenants (measured by LFA) and tenants to deepen our food waste 113 tenanted o昀케ce 昀氀oors in Citygate Outlets, Cityplaza, Island Place Mall, reduction and recycling e昀昀orts. In 2022, it collected more than 8,290 Paci昀椀c Place, South Island Place and tonnes of food waste from our Hong Taikoo Place participated in its food Kong and Chinese Mainland portfolios waste recycling programme. Case study and our hotels. Swire Coca-Cola – Rethinking bottle design to facilitate reuse In 2022, Swire Coca-Cola Reducing post-consumer waste Reduce introduced a new returnable glass from beverage packaging Swire Coca-Cola reduces the amount of bottle (RGB). The new bottles are Swire Coca-Cola does not control plastic used in its packaging of bottled made with 60% recycled glass what happens to its packaging after brands. In Hong Kong, Swire Coca-Cola material and weigh one-third less consumption. But it wants to transform continues to trial packaging-free delivery than the old design. the way waste is dealt with and to models. They have installed around The bottles’ paper labels promote a circular economy. It supports 160 Bonaqua water re昀椀ll stations at are recyclable, printed with the Ellen MacArthur New Plastics strategic locations around the city, which environmentally friendly inks, Economy Global Commitment and The encourage consumers to bring their and have been designed to easily Coca-Cola Company’s World Without own bottles. detach during bottle washing. Waste goals. This is what it does: The new bottles are colourless, and • Reduces single-use packaging as much Redesign there are only two designs, which as possible by cutting its amount and improves the e昀케ciency of cleaning Swire Coca-Cola’s goal is for 100% of weight and by using re昀椀ll stations and re昀椀lling. Beyond facilitating • Redesigns packaging so that it is easy its primary packaging to be technically reuse, the light-weight design is to recycle, has value when recycled and recyclable by 2025. In the US, they have expected to help reduce the GHG includes recycled materials itself shifted all Sprite PET bottles from their emissions required to transport signature green colour to transparent them around the city. • Facilitates better recovery of packaging bottles for ease of recycling, and produce through clear labelling and disposal instructions DASANI in 100% recycled PET (rPET) bottles. It now o昀昀ers 600ml or below • Recycles packaging materials into the sparkling drinks packaged in 25% rPET in highest value end-products as possible Hong Kong. • Collaborates with government, industry, waste management companies, and non-pro昀椀t organisations to promote the transition to a circular model SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 37

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate WaWassttee Water People Communities Collaboration • Supporting the China Beverage Looking ahead Swire Coca-Cola works with other parties Industry Association’s research on This year, we will develop a roadmap in the waste value chain. In Hong Kong, post consumed bottles and sharing to our 2050 target of Zero Waste to Swire Coca-Cola helped to establish Drink knowledge with other bottlers. Land昀椀ll and conduct a study to identify Without Waste (DWW), a coalition of • Collaborating with the China National opportunities and linear risks to NGOs, beverage producers and bottlers, Centre for Food Safety Risk Assessment implementing a circular economy. retailers, and companies in the waste (CFSA) to facilitate the use of recycled business. The aim is to reduce the amount aluminium from used beverage cans in of beverage waste and the amount of soft the Chinese Mainland. drinks packaging going to land昀椀lls. For more information, please see Swire Swire Coca-Cola Hong Kong donated Coca-Cola’s Sustainable Development HK$1 million to fund a community plastic Report 2022. bottle recovery pilot programme run by DWW that engaged cleaners, residents, By 2030 its primary packaging will and property management o昀케ces in Tin contain 50% recycled material. Shui Wai. About 340,000 bottles have By 2025 its primary 11% achieved been collected since October 2022. Swire Coca-Cola packaging will be packaging and 100% recyclable. By 2030 it will collect and recycle one waste targets bottle or can for every one it sells. Elsewhere, Swire Coca-Cola is: 99% achieved - PET collection: 11% (HK) to 100% (TW) • Supporting extended producer - Can collection: 49% (US) to 99% (Chinese Mainland) responsibility (EPR) legislation. In 2022, Colorado passed EPR legislation (HB 22-1355) Producer Responsibility for Recycling Act. The bill aligns with the beverage industry's EPR guiding principles. New Life Plastics is currently processing 400 tonnes of recycled beverage bottles per month. Case study Further reading Swire Coca-Cola – Celebrating the opening of New Life Plastics Drink Without Waste In Hong Kong, approximately 86 Swire Coca-Cola Sustainable NLP is driving a ‘bottle-to-bottle’ Development Report 2022 tonnes of PET-made waste plastic, approach. The 6,500-square-metre equivalent to more than 4.7 million recycling facility currently processes plastic beverage containers, are 400 tonnes of recycled beverage disposed at land昀椀lls daily. To help bottles per month. With capacity to tackle this issue, Swire Coca-Cola, handle up to 900 tonnes, NLP provides in a joint venture with local waste proper disposal of plastic bottles, management 昀椀rms, established New a substantial solution to land昀椀ll Life Plastics Limited (NLP), the largest waste, savings on waste charges, and food-grade ready plastic recycling progress toward carbon neutrality. facility in Hong Kong. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 38

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste WaWatteerr People Communities SwireTHRIVE – WATER Use and manage water responsibly Water withdrawal in 2022 Group water footprint 2022 Progress against targets 2.3% 1.8% 9.7% 16.9M 2022 2030 2050 cubic meters -11%* -30%* water neutrality 7% decrease from 2021 18.1M cbm 86.3% *Compared against a 2018 frozen e昀케ciency baseline and covers businesses included in the target only Companies, communities and ecosystems Our approach is to: depend on access to reliable supplies Further reading of clean water. Population growth and economic development are putting Sustainable Water Policy increased pressure on the planet’s limited freshwater resources, with the UN Reduce our water Recycle water and forecasting a 40% shortfall by 2030. Today, use by improving use alternative climate change is primarily felt in changes e昀케ciency and sources of water adopting new to water, with extreme weather events technologies and unpredictable rainfall impacting the availability and quality of freshwater. Our approach We use water in the beverages we make Ensure our Replenish natural wastewater is safely water sources to clean and cool our facilities and in discharged back to through partnerships providing services to our customers. Our nature goal is to be water neutral by 2050. This means that, at a minimum, our business activities should have no net negative The Group and its operating company impact on local water systems. Our Swire Coca-Cola both received an A- Sustainable Water Policy outlines what rating in the 2022 CDP Water Security we will do to use water responsibly and questionnaire. protect local water sources for the future. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 39

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste WaWatteerr People Communities Group performance increase in overall water demand as our Our target currently covers operating In 2022, the Group withdrew 16.9 million business grows. There are trade-o昀昀s. companies, which together make cubic metres of fresh water, a 7% decrease Water-cooled chillers are more energy up 99% of the Group’s total water e昀케cient than air-cooled chillers and footprint. It re昀氀ects our e昀昀orts to from 2021. Almost all (99%) of the water so reduce carbon emissions. They are reduce water use in our operations. we used came from municipal water a central part of our decarbonisation The water in the beverages produced sources. Swire Coca-Cola withdrew the strategy but will increase our water rest from groundwater sources. Swire by Swire Coca-Cola (production volume footprint. Coca-Cola accounts for the majority or water consumption) is excluded (see replenishment initiatives for how we (86%) of the Group’s water use. It tracks address water consumed). the e昀케ciency of its manufacturing process using the water use ratio (WUR) metric (litres of water used per litre of 昀椀nished product produced) and aims to achieve a WUR of 1.45 by 2030. In 2022, Water withdrawal by division Property its overall WUR was 1.75, down 3% from Beverages (thousand cbm) Aviation 1.81 in 2021. Testing and commissioning new production lines in the Chinese Trading & Industrial Mainland, Hong Kong and Taiwan, and Marine Services increased product variation impacted the 39 water demand. 81 86 311 - 85 324 302 398 300 Swire Properties is the second largest 402 449 417 15,619 385 477 14,592 14,572 1,778 14,586 water user, accounting for almost 10% 13,439 2,011 1,759 1,639 of the Group’s water footprint in 2022. 1,522 Water intensity at Swire Properties decreased by 9.2% and 25.9% in its Hong Kong and Chinese Mainland portfolios respectively, compared to a 2016 business- as-usual base year. At its hotels, water intensity increased by 15.1% compared to 2018/2019 levels. Overall, it used 7.8% less water in 2022 than in 2021. 2018 2019 2020 2021 2022 Water use decreased by 3% at HAECO and decreased by 3% in the Trading & Industrial Division year on year. Progress towards 2030 water target* Swire Properties Swire Coca-Cola (w/o bottling volume) 2030 target HAECO group (excluding HAESL) Trading & Industrial To drive e昀케cient water use in our Frozen E昀케ency Scenario operations, we have set a target to reduce (w/o bottling volume) water use by 30% by 2030, compared to 283 275 2030 target 297 276 385 a 2018 frozen e昀케ciency baseline. To date 347 398 we have achieved an 11% reduction, we 449 417 7,000 6,274 477 6,369 6,577 1,778 1,639 surpassed our 10% target reduction for 5,476 2,011 1,759 9,112 9,622 2022. The baseline assumes our water 1,522 8,691 8,379 8,428 8,659 7,933 8,474 7,960 7,936 use e昀케ciency remains 昀椀xed at 2018 levels but allows us to factor in the projected 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 *Following the review of our report boundary in 2022, the 2018 baseline has been recalculated to exclude Cathay Paci昀椀c Group and HAESL. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 40

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste WaWatteerr People Communities Case study Swire Coca-Cola – Signi昀椀cant improvement in water use ratio at Minhang Plant Swire Coca-Cola reduced its water usage rate at its Minhang Plant by 34%. Swire Coca-Cola’s facility at Minhang, functional team was set up to identify A total of RMB 3 million (HK$3.4 Shanghai used to have the highest water saving opportunities, including: million) was invested to implement WUR (2.88) among all its plants in the 1. Improving water disinfection processes these measures, leading to an annual Chinese Mainland. One of its biggest reduction of 167.5 million litres challenges has been controlling the 2. Capturing rinsing water from the can of water use and RMB 1.17 million level of microorganisms in the water production line for reuse (HK$1.31 million) of water costs. The treatment system due to unstable 3. Using recycled water instead of WUR of the Minhang plant has been source water quality and the age of freshwater reduced to 1.91. In 2023, Swire Coca- the water supply network. This meant 4. Redirecting downgraded water from Cola will look for further opportunities increasing the frequency of cleaning beverage production to cooling towers to reduce water use in the plant’s the system. To reduce the freshwater cooling tower and toilets. demand at the plant, a cross- Reduce water use in HAECO dry washes aircraft, using 90% our operations less water and saving more than 860,000 795,510cbm We monitor our water use to identify litres of water per year. Water meters will be installed in the aircraft maintenance water recycled by opportunities to adopt more e昀케cient hangars in Hong Kong to provide insights Swire Coca-Cola in 2022 processes, repair leaks, install water 昀氀ow for water reduction opportunities. regulators and use technologies that use Swire Coca-Cola recycled 795,510 cubic less or no water. Optimisation of lavatory water 昀氀ow at Xiamen is expected to reduce 180 tonnes metres of water in 2022, 14,066 cubic Swire Coca-Cola has installed water of water use per annum. metres less than in 2021. Wastewater sub-meters at all of its bottling plants in from manufacturing is reused for Taikoo Sugar uses a water heat exchange the Chinese Mainland and uses water-free system in syrup production which can cleaning, irrigation, and toilet 昀氀ushing. alternatives such as dry lubricants and Water used in cooling lines and systems ionised air where possible. reduce water consumption by around 3.5 is reused in condensing towers. In the cubic metres per tank compared with an Chinese Mainland, reusing rejected Swire Properties uses water meters, air-cooling system. reverse osmosis (RO) water and backwash water 昀氀ow regulators, automatic taps, water from activated carbon 昀椀lter tanks and automatic 昀氀ush toilets and water- free urinals at various locations. Water Use alternative sources contributed to the signi昀椀cant freshwater sub-metering installation was completed of water use reduction. In 2022, a new system was in its Chinese Mainland portfolio in 2022. installed at Tempe plant in Arizona, USA We use recycled water and rainwater to to recover RO water which can reduce the To further optimise water use practices, reduce our need to draw on freshwater plant’s WUR by 3-5%. Swire Properties continued its partnership supplies. with Tsinghua University to study water use patterns and generate suggestions at di昀昀erent portfolios. Water leakage detection sensors have been installed in Cityplaza mall covering plant rooms and tenancy areas. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 41

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste WaWatteerr People Communities Swire Properties treats and reuses Engage with others to reduce Safely discharge wastewater back pantry wastewater and rainwater for toilet water use to nature 昀氀ushing and irrigation. Several Chinese Going beyond our direct operations, we Pollution a昀昀ects the quality of local water Mainland properties including Taikoo Hui, seek to positively in昀氀uence the behaviour sources, so it is important to ensure that INDIGO, Sino-Ocean Taikoo Li Chengdu, of our suppliers, customers, and other all water we discharge back to nature and HKRI Taikoo Hui have installed water users in our local communities. is safe and, at a minimum, meets local systems to collect and treat wastewater Swire Coca-Cola uses a system to regulatory requirements. and rainwater for toilet 昀氀ushing and plant gather data on water consumption and irrigation. In Hong Kong, rainwater and production volume from its co-packers All of Swire Coca-Cola’s bottling plants greywater recycling systems at One Taikoo meet the wastewater quality standards Place and Two Taikoo Place, together with to improve their reporting e昀케ciency. of The Coca-Cola Company and the World the RO system to recycle process water Co-packers’ performance will be further Health Organisation. Performance is from the cooling tower, total freshwater reviewed to uncover WUR improvement monitored. In the Chinese Mainland, an demand can be reduced by over 48%. opportunities. online monitoring system is used to track HAECO reuses rainwater for toilet Swire Properties encourages tenants wastewater compliance. to adopt guidelines on the use of fresh Where necessary, Swire Coca-Cola bottling 昀氀ushing in Hong Kong. In 2023, with and 昀氀ushing water to support compliance plants and companies in the HAECO the support from the Swire Paci昀椀c the Hong Kong government’s voluntary Sustainable Development Fund, HAECO “Quality Water Supply Scheme for group have onsite wastewater treatment will pilot a new wastewater treatment facilities. HAECO Xiamen uses heavy metal system in the composite maintenance Buildings”. monitoring equipment and detectors to and repair plant in Jinjiang, Fujian, China check e昀툀uents before discharge. to provide high quality water for reuse applications. An evaluation of the pilot programme will determine opportunities for adoption at a wider scale. Taikoo Motors uses an automatic car wash system that recycles up to 40% of the water used in each wash. INDIGO features contemporary architecture, innovative green features and quality public spaces. Case study Swire Properties – Rainwater recycling at INDIGO INDIGO’s existing grey water system In 2022, INDIGO built a sewage water collects high-quality wastewater and recycling system, further improving rainwater to make grey water for toilet its water savings and reducing 昀氀ushing and greenery irrigation. This wastewater discharged into the cutting-edge technology can treat municipal pipework system. When sewage water to reach grey water or operating, the system will have the even pure water standards for use in capacity to save up to 85,000 cubic cooling towers. metres of water per year. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 42

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste WaWatteerr People Communities Replenish water through We use the World Resources Institute’s Swire Properties has done water risk assessments in Hong Kong, the Chinese partnerships (WRI) Aqueduct Water Risk Atlas to assess Swire Coca-Cola commits to returning the baseline water stress across our global Mainland and Miami, USA. Availability of a litre of clean water to natural water operating locations. About 22% of the water, operational risks associated with systems for every litre of water used freshwater we use is drawn from sources water use, the e昀케ciency of its buildings, and the risk of higher water tari昀昀s in its beverages. It collaborates with that are classi昀椀ed as high or extremely were assessed. The Coca-Cola Company on community high stress – indicating that demand from and watershed protection projects to local water users is at risk of exceeding replenish water in the Chinese Mainland supply. When considering a 2030 business- and the US. In 2022, the Coca-Cola System as-usual scenario, 40% of our water Looking ahead replenished 293.3 billion litres of water, demand is from highly stressed basins. The Group’s water working group will equivalent to 167% of the water used in Regions with high water stress in 2030 continue to improve the collection and its beverages. Water replenishment data is include locations in the Chinese Mainland monitoring of our water data, develop audited by a third party. (Beijing, Shanghai, and Chengdu) and the a roadmap for achieving our 2050 water US (Arizona, Colorado, Idaho, and Utah). neutrality goal, and explore partnership Swire Coca-Cola made three new Hong Kong will also experience increasing opportunities for water replenishment donations to replenishment programmes water stress. projects in locations where we operate. in 2022: one in Utah, expected to replenish Swire Coca-Cola evaluates site-speci昀椀c about 398 million litres of water per year, water risks, including water quality and two in Arizona, expected to save 2 Proportion of total water million litres of water per year. and availability, for each bottling plant withdrawn in 2022 by level of using The Coca-Cola Company’s Source water stress Vulnerability Assessments (SVAs). Understanding our water risks Following SVAs, plants prepare water Low (<20%) Medium (20%-40%) management plans (WMPs), which are Water availability is highly location High (>40%) updated every 昀椀ve years or as required by dependent. Each watershed may be The Coca-Cola Company. Swire Coca-Cola 16% 62% exposed to di昀昀erent risks depending aims to have SVAs and WMPs externally on its climatic conditions and changing veri昀椀ed by 2025. By the end of 2022, over demand of all water users drawing from 70% of the bottling plants had SVAs and it. Understanding location speci昀椀c water WMPs prepared or reviewed by external risks can inform a more targeted and water experts. strategic approach to water management, allowing focus on sites with the highest risks. 21% Water withdrawn by level of water stress and region Low (<20%) Medium (20%-40%) (thousand cbm) High (>40%) 20% Chinese 61% 42% 43% Mainland USA 19% 12,664 2,419 15% Taiwan 541 100% Hong Kong 1,375 100% * Water withdrawal of Swire Paci昀椀c O昀昀shore and Swire Paci昀椀c head o昀케ce are immaterial so not included SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 43

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities SwireTHRIVE – PEOPLE Foster a culture that is accessible, inclusive and safe Total employees Employees by division 2022 Progress against targets 10% 20% 11% 2022 58,000+ 24% 2024 women 30% employees in senior roles No change from 2021 59% Embracing diversity and inclusion are essential to our long-term success. It Employees by region Hong Kong & Macau is not only the right thing to do but it Chinese Mainland is a business imperative. By cultivating Taiwan an inclusive culture where everyone is USA treated fairly and with respect at all levels, we can be better equipped to serve our communities, attract top talent, retain our people, and improve our 昀椀nancial 4% 17% performance. At the end of 2022, the Group employed more than 58,000 people, a similar number to 2021. 79% of our people are based in Hong Kong and the Chinese Mainland. Our Beverages and Aviation 19% divisions are our biggest employers. 60% Remark: Includes all employment types SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 44

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Diversity and inclusion Our approach Policies Diversity and inclusion are key to To drive forward our diversity and We have several inclusive policies in cultivating a resilient business and inclusion agenda, we have a strategic place such as the Flexible Working community. The last few years have framework translating our commitment Policy and Parental Leave Policy. Since taught us the importance of community to diversity and inclusion into action. implementing them, we are gathering This framework includes three goals, 昀椀ve feedback from employees to understand coming together amidst a di昀케cult time. focus areas, and six pillars that cover how whether the policies have been successful This means embracing diversity and we engage our employees, attract and and learn what else we can do to create fostering inclusion by re昀氀ecting on current manage talent, build an inclusive culture, more inclusivity. We also updated and practices and listening to our people. measure success and share our story republished the Human Rights Policy, Focus groups and group-wide surveys externally. Flexible Working Policy, and DISC Terms have been conducted to provide a safe The Swire Diversity and Inclusion Steering of Reference to better re昀氀ect our and con昀椀dential space for our people to commitment and D&I priorities. share their thoughts. We are measuring Committee (DISC) provides guidelines about diversity and inclusion to the the e昀昀ectiveness of inclusive policies such as the Flexible Working Policy. We Group and formulates policies designed Further reading are also benchmarking our progress to promote a diverse workforce and an against market best practice to see inclusive working environment for all Responsibilities of how we can improve. At the same time, Group employees. It is jointly chaired by the Swire Paci昀椀c DISC various engagement campaigns focusing the Finance Director of Swire Properties Group Diversity and Inclusion and the Sta昀昀 Director of John Swire & on di昀昀erent diversity areas are helping Policy to educate and broaden perspectives. Sons (H.K.) Limited. The Group Head of Through these initiatives, we are fostering Diversity and Inclusion, who reports to the Board Diversity Policy a supportive and inclusive environment Sta昀昀 Director, leads a team that supports where people are a priority. the work of the DISC. Respect in the Workplace Policy Flexible Working Policy Human Rights Policy Our 昀椀ve focus areas of diversity Gender Our goals 1. Build a diverse and inclusive workplace environment Sexual 2. Be recognised and ranked as a diversity Age orientation and inclusion leader in the areas where we operate 3. Use our in昀氀uence to promote diversity and inclusion in our supply chain Disability Ethnicity SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 45

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Group performance One critical element in building an Board diversity by gender Employee by gender and inclusive environment is to have diverse employee category representation, especially in leadership Male Male roles. To drive towards gender equality, Female Female our goal is to have 30% of senior 71.4% Strategic leader 76% 24% leadership roles 昀椀lled by women by 2024. We have also introduced a new target Operational leader of 30% women on the board by 2024. At 69% 31% the end of 2022, 24% of senior leadership Team leader 68% 32% roles were 昀椀lled by women and at the time of publishing, 28.6% of our directors Individual contributor were women. 28.6% 69% 31% Gender pay gap Remark: Includes permanent employees only Gender pay gap is the di昀昀erence between the mean basic pay for men and women, expressed as a percentage of men’s Employee breakdown by gender by operating company Male 1 To calculate gender Female average earnings. pay gap, the average female salary is subtracted from the average male salary, which is then divided by the average 81% male salary. 71% In 2022, women in strategic leadership 60% 58% 58% positions were paid 91% of the average pay of men in such positions. Women in 40% 42% 42% operational management positions were 29% paid 108% of the average pay of men 19% in such positions. The corresponding percentages for team leaders and individuals (non-management) Property Beverages Aviation Trading & Swire Paci昀椀c contributors were 101% and 66% Industrial (Head o昀케ce) respectively. We pay men and women the same for Remark: Includes all employment types doing the same jobs, but the gender pay gap indicates that we must do more to support and equip women to progress in Gender pay gap by employee category their careers. One of the ways we do so is by emphasising diversity and inclusion (basic salary) in the recruitment, development, and Strategic Operational Team Individual promotion of our people. leader leader leader contributor 8% 1% -9% -34% Remark: Permanent employees only 1. In 2022, we update our gender pay gap calculation method to produce a weighted average. The calculation is ((total pay for females / total number of females) – (total pay for males / total number of males)) / (total pay for males / total number of males). SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 46

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Our strategy – in actions Case study Gender We pledge to narrow the gender gap at all levels and to ensure that gender barriers and biases are eliminated Gender inclusion is a key focus of the how women in technology and leadership Swire Group. To ensure that gender are creating a more gender equal future. barriers and biases are eliminated, we We also recognised International Men’s need to 昀椀rst raise awareness and build Day in November through various understanding of prevalent gender communications and events. Our e昀昀orts and actions in furthering issues and bias within the community. But raising awareness is not enough. the gender inclusion agenda have been The theme for International Women’s Commitment requires further action. recognised externally by publications Day 2022 was #BreakTheBias. Across Swire Properties partnered with the such as the Bloomberg Gender the company, operating companies women’s programme, Be Pink, to open a Equality Index. Out of 484 companies celebrated this day on 8 March and pop-up store in Shanghai for women to in 45 countries and regions, Swire explored the di昀昀erent types of bias meet, exchange knowledge, and build Paci昀椀c, Swire Properties, and Cathay that may inhibit the progress of community. Cathay Paci昀椀c published a Paci昀椀c were among only 昀椀ve Hong women in the workplace. In April, we Menopause & Menstruation guideline for Kong listed companies to be included partnered with She Loves Tech, the in the index. world’s largest start-up competition their sta昀昀 to raise awareness and provide for women and technology for an suggested practices to accommodate innovation workshop that showcased when appropriate. Case study Age We pledge to create an age-neutral and multi-generational workplace To create an age-neutral workplace, we young talents to deliver change Age need to 昀椀rst address misconceptions by connecting directly with the around age, particularly around company’s Executive Committee. retirement. Swire Resources o昀昀ers an Hong Kong Aero Engine Services ongoing programme that looks to re- Limited (HAESL) launched a Young employ employees after retirement age, and Mature Masterclass programme, allowing retired employees to continue o昀昀ering a series of workshops for all to contribute skills and knowledge to employees to learn new skills. In July, the company. Swire Paci昀椀c organised a virtual age To build a multi-generational workplace, inclusion workshop where participants we need to create opportunities for discovered and applied their sense of purpose, values, and, meaning di昀昀erent generations to connect and to connect more deeply with their learn from each other. Swire Properties colleagues, regardless of age. launched their Next Gen Committee, NextCom, leveraging and empowering SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 47

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Case study Ethnicity We pledge to build a workplace where people of all ethnic and cultural backgrounds are respected and encouraged to collaborate and contribute Building an inclusive workplace An inclusive workplace also requires begins with understanding and making accommodations and o昀昀ering respect. To celebrate World Day support to help employees of di昀昀erent for Cultural Diversity for Dialogue cultural backgrounds to thrive. In Cathay A multi-faith prayer room at Cathay City. and Development in May, Swire Paci昀椀c, at Cathay City, a multi-faith prayer Paci昀椀c hosted an event with Swire room was set up so that employees have a Racial Diversity & Inclusion Charter Properties and HAECO to talk dedicated space to focus on their spiritual for Employers drawn up by the about the challenges facing ethnic wellbeing if they wish to. To ease the Equal Opportunities Commission minorities in Hong Kong and outline transition for migrant workers in Taiwan, in Hong Kong. We also partner the speci昀椀c role that communities Swire Coca-Cola created a safety-昀椀rst closely with the Zubin Foundation on and businesses can play in addressing preparation programme which includes programmes that improve the lives these challenges. We learnt that by language classes, matched buddies, and of Hong Kong’s ethnic minorities, creating ethnicity-focused networks, translation apps to minimise language and including their summer internship reviewing our ways of working, and communication barriers. programme and Opportunity Bank job placement platform. partnering with NGOs on community At the Group level, we continue to programmes, we can create a more showcase our commitment to ethnic inclusive community and workplace for inclusion as charter signatories to the ethnic minorities. To review and assess our disability individuals in various departments inclusion strategy and actions taken to during the month-long programme. cultivate disability inclusion, Swire Group Swire Coca-Cola hired an individual participated in the CareER Disability with achondroplasia in the beginning Inclusion Index (DII). By benchmarking of the year. The team provided a our progress compared to other market HR buddy, organised team building players, we can determine the next steps activities, and incorporated adjustable Human Resources team members in our disability inclusion journey. In footsteps into their new o昀케ce design. from across the Group join CareER’s addition to looking externally, HAECO Through these inclusive practices, the Inclusive Recruitment Fair 2022. launched a disability inclusion employee individual referred another individual Case study resource group called Ability Allies to with achondroplasia to join the team in Disability provide a safe space for dialogue on Hong Kong by the end of the year. We pledge to increase the how the company can better support By ensuring inclusivity in the accessibility of the workplace employees with disabilities. workplace, we are increasing disability to create a comfortable To increase disability representation, the representation within the Group. For Swire Group also joined CareER’s Inclusive environment for everyone our e昀昀orts, Swire Paci昀椀c was selected Recruitment Fair 2022 to meet various as one of the Disability Matters Asia candidates with disabilities to better Paci昀椀c Honourees for the Workplace understand their career aspirations and category in 2022 by Springboard explore opportunities for hiring. Swire Consulting which works with Hotels collaborated with the Hong Kong companies globally to mainstream Down Syndrome Association in their disability in the workforce, workplace, UPSTAIRS programme and placed ten and marketplace. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 48

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Case study Sexual orientation We pledge to create an inclusive environment where individuals can bring their full selves to work without fear of discrimination or recrimination In the last D&I survey, we found Beyond raising awareness that 9% of respondents identi昀椀ed internally, we also showcased our themselves as part of the LGBT+ commitment to LGBT+ inclusion community. Therefore, we need and support of the LGBT+ to raise awareness of this sizable community externally. For Pride community by educating all our month, a ‘Happy Pride’ message employees on the community’s was displayed on digital screens in challenges and needs. The Trading all malls and o昀케ces under Swire Looking ahead & Industrial Head O昀케ce designed Properties management. Special As we have reached the mid-point in our online training about LGBT+ inclusion pride month deals, a drag evening, for all its employees in both Cantonese and a celebration with music, and 昀椀ve-year D&I Strategic Framework, we and Mandarin. For Pride month, will use the coming year to re昀氀ect on our free-昀氀ow snacks and drinks were the Swire Group celebrated with also organised for customers. D&I journey so far and explore ways to numerous lunch and learn sessions, as Some of the proceeds from the move from awareness and education to well as a movie screening and pride- events were donated to Hong Kong sustainable behavioural change. This will themed cocktail classes to engage our Marriage Equality, an organisation involve more tailored training and support employees. On Pink Friday, a multi- dedicated to advancing and to segmented D&I stakeholder groups industry event that aims to showcase achieving marriage equality in Hong plus assessing our employee experience to build more inclusive practices. visible support for LGBT+ inclusion in Kong. Cathay Paci昀椀c also designed the workplace, Group employees wore a rainbow vapour trail to use as pink and participated in interactive their o昀케cial logo for the duration of booths, games, and more to learn Pride month. This rainbow logo was more about important topics relating featured on various social media to the LGBT+ experience. pages and the o昀케cial website. Case study D&I Survey The Swire Group is dedicated to fostering an inclusive workplace where all employees can thrive and succeed, regardless of their age, gender, gender identity, • 85% of respondents agreed disability, ethnicity, or sexual orientation diversity & inclusion strategy is important to the long-term health of We conducted our second D&I Survey • 75% of respondents agreed the company. to gather feedback from all Swire the company has created an The demographic of respondents are Group employees based in Hong environment where people of as follows: Kong. It was entirely voluntary and diverse backgrounds can succeed. anonymous to participate. • 76% of respondents agreed the • Around 81% of respondents self- senior leadership publicly supports identi昀椀ed as Chinese while 4% There was a total of 12 questions and and promotes diversity initiatives. self-identi昀椀ed as White, about 7% an overall average response rate of as other Asian, and 2% as Others. 14% across the Group. Overall, our • 68% of respondents agreed policies Approximately 6% preferred not average score for inclusion increased and procedures are fairly enforced to answer. by 7% compared to last year. throughout the company. • Around 9% identi昀椀ed as LGBT+. 2 • 81% of respondents agreed the : Key 昀椀ndings • 2% of respondents self-identi昀椀ed as company has promoted inclusion having a disability. • 77% of respondents agreed the through its internal communications company values and respects a and/or events. The information gathered will be variety of ideas, perspectives and used as a reference for further action working styles. planning as we look to cultivate an even more inclusive workplace. 2. Figures presented are aggregated averages. Responses varied across the group. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 49

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Health and safety Achieving zero harm depends on a strong managing risks, and provides specialist safety culture in which employees are oversight and support to our divisions. We never compromise on safety. In responsible for the safety of others and Every division submits a quarterly health and our operations, our 昀椀rst priority is to themselves. We aim to identify and manage safety report and sets annual safety targets. safeguard the health and safety of our potential hazards by conducting regular With a view to continuous improvement employees, contractors, suppliers and safety audits and reporting all incidents, in safety performance, every division also customers, the visitors to our business including those considered to be minor so sets safety targets for a 10 year period premises and the communities in which that we can share and learn from them. We and these targets are updated annually. At we operate. also encourage reporting of near misses so every Group Risk Management Committee We take our health and safety that potential hazards can be identi昀椀ed and mitigated. (GRMC) and Board meeting, there is an responsibilities very seriously. We apply update on health and safety performance. robust risk management controls, create Our 昀椀rst line health and safety committee is A separate China health and safety working a strong safety culture, and encourage responsible for developing group health and group deals with health and safety in the transparent and timely reporting of safety policies and guidelines, monitoring Chinese Mainland, where regulations incidents so that we can investigate their divisional performance, promoting frequently change and vary between root causes and implement preventative education and training, sharing lessons provinces. measures. Our ultimate goal is zero harm. learned, best practices, and developing Safety leadership is key to a strong safety internal health and safety capabilities. culture. Adequate knowledge and skills Our approach A second line risk forum focussed on are required to manage health and safety human resources, health, and safety e昀昀ectively. Senior management receive The group, and each of its subsidiaries, has operates under the Group’s risk governance industry speci昀椀c and general health and an occupational health and safety policy structure. It advises the GRMC on related safety training in accordance with our senior that is monitored by our internal audit emerging risks which may a昀昀ect the Group, management health and safety policy. department. We focus on the following helps to analyse health and safety-related key areas: risk events, develops best practices for Explore more ESG risk management SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 50

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Group performance In 2022, our LTIR decreased by 32% Tracking contractor safety We use two metrics to evaluate safety to 0.42 from 0.62 in 2021. Signi昀椀cant performance improvements were observed at Swire We expect our contractors to observe performance: Properties, Swire Coca-Cola, HAECO • Lost time injury rates (LTIR): the number and Trading & Industrial division. Total high safety standards and centrally track of injuries per 100 full-time equivalent hours worked in the group decreased by contractor safety data to facilitate continual employees3 3.5% in 2022. improvement. Regrettably, there was one work-related fatal tra昀케c accident of • Lost day rates (LDR): the number of a contracted worker in Swire Coca-Cola’s In 2022, our LDR decreased by 40% to work days lost to injuries per 100 full- Chinese Mainland operations. Following 18.9. Signi昀椀cant improvements were time equivalent employees observed at Swire Hotels, Swire thorough investigations Swire Coca-Cola Coca-Cola, HAECO, and Trading & has reviewed its defensive driving training Industrial division. programme to ensure the supplier’s Lost Time Injury Rate (LTIR) readiness to cope with any unforeseen (Number of injuries per 100 There were no fatalities among our situation during the delivery operations. full time equivalent employees) employees in 2022. 0.82 0.82 0.64 0.62 0.42 2018 2019 2020 2021 2022 Remark: Figures for 2018-2021 have been restated to re昀氀ect the change in the reporting boundary in 2022. Lost Day Rate (LDR) (Number of days lost per 100 full time employees) 36.34 34.75 Case study 31.48 Swire Coca-Cola – Using AI to improve safety performance 28.48 18.90 In 2022, Swire Coca-Cola introduced The system uses machine learning an arti昀椀cial intelligence machine to automatically identify risks in real learning algorithm which integrates time – for example, raising alerts when with the CCTV system to detect at-risk employees are not wearing a safety behaviours in operational areas. This vest, are speeding or infringing on 2018 2019 2020 2021 2022 has led to a reduction in incidents and safety zones. Results are maintained in work injuries. an easily accessible online dashboard Remark: Figures for 2018-2021 have been to enable frequent compliance restated to re昀氀ect the change in the reporting boundary in 2022. monitoring and continual performance improvement. 3. Number of lost scheduled working days per 100 employees per year [calculated by number of lost-time injuries/number of hours worked multiplied by 200,000]. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 51

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Safety Management Systems (ISO Behaviour Based Safety Using technology to improve certi昀椀cation) Observation health and safety Our Zero Harm commitment requires Promoting safe behaviour in the Technology can help organisations everyone, regardless of seniority or job workplace is a key element in safety reduce the risk of workplace accidents responsibilities, to go beyond compliance, management which also helps build and and improve workplace safety. Safety proactively eliminate potential hazards, maintain a positive safety culture within monitoring, reporting, and training are and create a safe workplace. Health and the organisation. Behaviour Based Safety some of the ways technology can help in safety reviews are conducted at our (BBS) is a scienti昀椀c approach aimed this respect. operating companies and results reported at positively reinforcing a safe work Swire Properties has launched a to the Audit Committee. Division heads environment through the identi昀椀cation of mobile phone application for near- have pay-linked safety performance at-risk behaviours. HAECO implemented miss and hazard reporting in order objectives. a Behaviour Based Safety Observation to facilitate and encourage proactive Swire Properties, Swire Coca-Cola, (BBSO) project to focus on how employees hazard identi昀椀cation by all employees. HAECO, Swire Waste Management, and work. An analysis was then conducted on In the Chinese Mainland, an AI smart site Taikoo Sugar have safety management why certain methods were adopted and safety monitoring system was set up at a intervention strategies were developed to systems that are certi昀椀ed to the stringent eliminate any unsafe behaviours. construction site at Sino-Ocean Taikoo Li ISO 45001:2018 standard. Chengdu to monitor the workers’ safety- related behaviour – speci昀椀cally smoking and the wearing of safety helmets. The system is equipped with a local speaker which broadcasts warnings to workers and alerts are automatically sent to the management team. Swire Properties has enhanced relevant training programmes with Virtual Reality (VR), giving employees the chance to enter virtual work environments to simulate how to handle the equipment properly, and ultimately work safely. VR allows employees to simulate handling equipment properly, and ultimately work safely. Case study Swire Properties – Safety training using VR technology In 2022, Swire Properties introduced Swire Properties aim to use this new safety training programmes using VR technology to enhance the employee technology to deliver safety awareness H&S learning experience and raise to frontline sta昀昀. This included a range their safety awareness. of simulation scenarios including working at height, manual handing and the safe use of suspended work platforms. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 52

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water PPeeoploplee Communities Safety awareness and training Crisis management and COVID-19 Many of our businesses ran campaigns We delivered occupational health and response to promote employee wellbeing and to safety training covering a range of We have a crisis reporting policy and crisis help our people feel more connected topics including working in a con昀椀ned management guidelines, which help to to the company and to each other. space, slip, trip, and fall prevention, build business resilience through crisis Swire Properties organised workshops 昀椀re prevention, working at height, preparedness, business continuity, and on mental health awareness which heatstroke awareness, manual handling, disaster recovery planning. Reporting introduced practical tips for enhancing road safety, and emergency response. and information exchanges within the mental wellbeing and dealing with Group have improved, facilitating a common mental health challenges. Swire Coca-Cola continued to improve faster response and recovery. During the Swire Resources launched a sta昀昀 stress their safety incident management relief programme and organized a yoga process through the introduction of pandemic, Swire Paci昀椀c activated its crisis day and an indoor adventure game day enhanced group investigation guidelines management process and monitored the for employees in order to raise their in order to standardise the process situation through its head o昀케ce crisis awareness of wellbeing. across all its markets. They also reached management team. out to other multinational companies Our businesses regularly updated to explore opportunities for health and COVID-19 guidelines and procedures Looking forward safety best practice sharing. intended to protect the health and safety We will build on the health and wellbeing HAECO reviewed and enhanced their of our people, our customers, and those initiatives which have been implemented incident investigation methodology with whom we do business. This included in response to COVID-19, in particular and established regional investigation work from home arrangements, provision those which enhance the mental health training teams to roll out an enhanced of personal protective equipment such of our employees. We will continue to investigation process across its group as face masks and rapid antigen tests, promote across the Group wider use of more frequent cleaning and disinfecting a structured approach to post incident companies. Leading safety indicators of facilities, special UV light and nano- such as near miss and hazard reporting investigation and conduct-related are also being developed to strengthen coatings on surfaces, and frequent in-depth analysis of the root causes of safety awareness in the workplace and communication of procedures and incidents. We will maintain our focus on identify potential risks. updates to sta昀昀 and tenants. Vaccine contractor safety performance which we leave was introduced as part of a Vaccine see as integral to the overall safety of Swire Properties extended its scope for Policy, to incentivise our people to get our businesses. Where appropriate we conducting full incident investigations vaccinated. will look for more opportunities to adopt to include incidents which could have technology which helps us improve our had severe outcomes with the purpose overall health and safety performance. of preventing similar incidents from Sta昀昀 health and wellbeing We will continue to monitor and assess occurring. In order to further enhance We care about the mental and physical emerging health and safety risks through safety awareness and communication health and wellbeing of our people. the Human Resources and Health and during project handovers, where We have 24-hour professional personal Safety risk forum. multiple parties are on site, joint safety counselling and consultation (PPCC) inspections by the management o昀케ce, hotlines to help employees deal with project team, and H&S department are stress, relationships, parenting, trauma now conducted to identify and mitigate or grief, and preparation for retirement. hazards upon project completion. Safety We use experienced counsellors, social brie昀椀ngs are conducted for tenant workers, and clinical psychologists to contractors and daily safety walks of tenant facilities are carried out during provide con昀椀dential professional advice and guidance. We promote work-life the 昀椀t-out phase of new buildings to balance and encourage employees to ensure high standards of safety practices lead active lifestyles by participating in are maintained. our sta昀昀 association’s physical wellbeing programmes. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 53

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses SwireTHRIVE – COMMUNITIES Position our community initiative as part of our core business value Bene昀椀ciaries in 2022 Trust contributions in 2022 Contributions by our business in 2022 >1.2 million HK$55million HK$76million bene昀椀ciaries of our active distributed by in cash and in-kind donations programmes in 2022 the Swire Group to the community by Charitable Trust the Group including our operating companies Our diverse businesses are part of Swire Group Charitable Trust the long-term development of the The Trust aims to make positive changes communities and societies in which in education, marine conservation, and we operate. When those communities the arts through support for charitable prosper, so do we. As neighbours and organisations in Hong Kong. To celebrate Swire’s 150th year in Hong employers, we want to be connected, involved, and responsible. The goal of The Trust is funded by annual Kong and rea昀케rm our commitment to our community work is to create a better contributions from companies in the the place that has helped us prosper for so many years, Swire has injected an R252 G27 B28 #CC0000 future by building stronger communities. Swire Paci昀椀c Group. It is overseen by the R12 G44 B132 #333399additional HK$150 million into the Trust R0 G0 B0 #000000 Philanthropy Council, which is chaired by R169 G151 B110 #A9976E We envision a 昀氀ourishing world of to fund TrustTomorrow. This initiative has diversity where all members of society a member of senior management, and enabled the Trust to work with more than have opportunities for a meaningful life, has tax-exempt charitable status in Hong 80 organisations in Hong Kong, through and where resources are sustained for Kong. Guided by the Swire motto – Esse multifaceted projects that connect the future generations. We support the local Quam Videri (to be rather than seem to dots to build social capital and aim to drive communities in which we operate through be) – the Trust is motivated by altruism lasting positive change in the community. and acts for the direct bene昀椀t of society the Swire Group Charitable Trust (the While our focus is on addressing long- Trust). Operating companies also make and the greater good. term challenges, the additional funds also direct contributions to the communities in Education allowed us to extend practical and timely which they operate. support to those in our community most To enhance education equity, quality, and innovation for disadvantaged children a昀昀ected by the global pandemic. Since and youth. 2020, we have contributed approximately HK$50 million to COVID-19 relief Marine conservation programmes. To help create sustainable marine ecosystems in Hong Kong through policy change, public engagement, and Further reading scienti昀椀c research. TrustTomorrow Arts To promote an inclusive arts sector and to use arts to address social issues. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 54

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grants In 2022, we supported 65 education, marine conservation, arts, COVID-19 relief, and other programme grants. Arts Marine Education Others COVID-19 relief HK$2,229,950 conservation HK$18,850,408 HK$2,627,245 HK$15,294,325 HK$13,820,362 Case study Building Community, Building Tung Chung “Building Community, Building Tung Chung” continued to see the close collaboration of our 昀椀ve NGO partners, which brought together children, youth, ethnic minorities, and families to create greater social impact. The project’s signature event “Re- Charge Tung Chung” was held over the summer at Citygate mall outlet. This hugely popular event attracted Re-Charge Tung Chung attracted over 1,200 over 1,200 participants from the participants. community and provided space for children to try out new sports and NGOs and their bene昀椀ciaries to display creative play. It also allowed multiple their creations through booth-placing. Case study Advocating for Marine Protected Areas (MPAs) in Hong Kong The Hong Kong Marine Protection Alliance was o昀케cially launched in August 2022. As a multi-stakeholder integrated platform, the HKMPA aims to empower the community to enhance and create a more sustainable marine environment in The HKMPA aims to engage the community to foster a more Hong Kong. sustainable local marine environment. The Alliance advocates for a larger coverage of Marine Protected Areas (MPAs) in Hong Kong, which current stands at only 4% of Hong Kong waters. Another issue the Alliance looks to tackle is the lack of public awareness - insu昀케cient community participation, poor knowledge of sustainable practices, and gaps in the formal school curriculum. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 55

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses 1 The following projects were active during 2022: Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) Arts with the Disabled General Funding Continued support to Arts 7,500,000 On-going Association Hong Kong promote the arts and artistic talent among persons with disabilities, so as to create equal opportunities for them in the arts sector and to foster social integration. Joshua Hellman Art in Your Life I Yoga Provided arts and yoga therapy Arts 1,999,000 Completed Foundation for Orphan in Your Heart sessions to children with rare Disease diseases and special needs to address their physical, social, and emotional needs. Life Education Activity General Funding Continued support for LEAP’s Education 15,000,000 On-going Programme mission to prevent substance abuse by providing health- based education programmes for primary and secondary students. Good Lab Foundation Visioning & Positioning Co-created with Swire, Education 200,000 Completed Limited Workshops for Taikoo stakeholders of Taikoo Primary Primary School’s School, and the adjacent Centenary community, a vision to guide the school’s future positioning in response to future needs in education and the local community of Quarry Bay/Tai Koo. Multiple NGOs Experiential Learning Provide 昀椀nancial resources Education 250,000 On-going Fund for disadvantaged persons to access arts and cultural events in Hong Kong. Multiple Organisations Hong Kong Marine Consultancy in relation Marine 5,000,000 On-going Protection Alliance to Swire Trust’s marine conservation conservation work and assistance in forming a coalition that aims to achieve a public policy and legal framework for the protection of Hong Kong’s marine ecosystem. 1 Projects are categorised by their main area of focus, but many projects support more than one area SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 56

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) Education 2,990,000 Completed The Education University Supporting Unit for Continued support to SuSEN of Hong Kong Special Education to enable it to develop into a regional special educational Needs (SuSEN) Phase 2 needs (SEN) knowledge transfer centre. The Incorporated General Funding Continued support to Education 9,000,000 On-going Management Committee strengthen the school’s of Taikoo Primary School English and Mandarin language (Taikoo Primary School) teaching and for special projects. The ADM Capital Hong Kong Sustainable Supported HKSSC’s promotion Marine 2,250,000 Completed Foundation Limited Seafood Coalition of responsible seafood conservation sourcing in Hong Kong. (HKSSC) The Hong Kong Bird Waterbird Census and Supported to help conserve Marine 2,159,000 Completed Watching Society Wetland Conservation intertidal wetlands in the conservation in China - Innovative Chinese mainland through waterbird research a bird census and public and public awareness education. Original project outreach extended to include a Satellite tracking project aimed at understanding more about on migratory birds, their habitats, wintering grounds, or stopovers. The data collected will help formulate regional conservation strategies. World Wide Fund For Sea For Future II This project aimed to set Marine 2,998,802 Completed Nature Hong Kong conservation targets to conservation conserve our marine habitats and sustain the momentum to expand the marine protected area (MPAs) network in Hong Kong through engaging local experts and communities. Act Plus Education Ani Ed - Young Foster the upward mobility Education 5,300,000 On-going Foundation Animator for Underprivileged Youth in Development Hong Kong through tailored Animator Development Programmes to empower underprivileged youths to become future assets in Digital Creative Industry. Bloom Association Hong 114˚E Hong Kong Reef Support underwater surveys Marine 2,415,300 On-going Kong Limited Fish Survey 2.0 of reef 昀椀sh in Hong Kong conservation waters and promoting long- term monitoring of marine protected areas (MPAs). SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 57

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) Caritas Hong Kong “Blessed Children, Provide holistic services to Education 3,361,000 On-going children with Speci昀椀c Learning Happy Parents” – Project for Families Di昀케culties, as well as their having Children with parents and teachers, to enhance the children’s learning Speci昀椀c Learning motivation, social skills, and Di昀케culties self-esteem. CareER Association Development of a Provide support to develop the Education 2,400,000 On-going Limited Disability Inclusion city’s 昀椀rst Disability Inclusion Index and Strategy Index (DII) and toolkits Framework for for employers to promote Employers in Hong employment opportunities for Kong the disabled and to expand the talent pool for local companies. Christian Action Centre for Refugee - Education A general education fund to Education 1,303,000 On-going Refugees Program - Tertiary educate and inspire the next Education Assistance generation of refugees and asylum seekers in Hong Kong. Ediversity Limited Teaching & Learning Instil P.1-3 students with the Education 5,050,848 On-going for 2030 「感.創.做」全 vital values, attitude, life, social, and emotional skills for 方位價值承傳計劃 whole-person development in 15 primary schools. Build a positive and student- centred teaching and learning culture in more schools and cultivate a positive and empathic parent-child interaction and home-school collaboration. Ednovators Ltd. Beam of Light Supported the social and Education 559,000 Completed emotional health and holistic learning and teaching of students, parents, and educators from the ‘special summer holiday’ to the start of a new academic year. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 58

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) Choi Suk Ling (Consultant) Taikoo Primary School - Created a culture of reading Education 1,338,000 Completed Build Reading Culture in schools and at home to promote mental and emotional development, imagination, and language skills in children and their relationships with parents. Bring Me A Book Hong 767,515 On-going Kong Limited Hong Kong Teacher- Teacher-Librarian capacity 379,400 Completed Librarians’ Association building and to upgrade the School Library as a Learning Resource Centre. Habitat For Humanity Hong Project Home Works Provide home improvements Education 1,494,000 On-going Kong Limited for children from 65 vulnerable families, to provide a decent living and study environment. Hong Kong Dignity Refugee - HKDI Foster students’ sense of Education 600,000 On-going Institute Interdisciplinary social responsibility and global citizenship through hands- Experiential Learning Program on experiences in tackling humanitarian issues faced by vulnerable populations in Hong Kong. HandsOn Hong Kong Swire Volunteer Matched Swire volunteers to Others 135,550 Completed Limited matching Program NGOs. Hong Kong Maritime Swire Marine Discovery Build the Swire Marine Marine 15,000,000 On-going conservation Museum Limited Centre (capital works) Discovery Centre (Capital and Marine Science extension project) and a Marine Science Learning Learning Programme Programme to provide an accessible learning platform to raise public awareness on marine conservation. InspiringHK Sports IHKSports Coaching for Support the set up of a Education 1,492,000 On-going Foundation Limited Youth Academy: Sports centralised digital platform for Development “CoachConnect” where Connection & Action quali昀椀ed sport coaches and parents/schoolteachers can connect and develop children and youths through organised sports activities. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 59

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) Integrated Brilliant ActNOW for The Provide daily after-school Education 999,760 On-going Education Limited Underserved Ethnic educational support and extra- Minorities Children curricular activities to Ethnic Minority children. Multiple NGOs Digital Campaign Fund The Fund aims to support Others 2,500,000 On-going Swire TrustTomorrow partners to better communicate their organisation’s mission and support the TrustTomorrow project through digital campaigns. National Geographic Oceans Tomorrow A multi-media project that Marine 7,000,000 On-going Creative Works chronicles the diverse conservation biodiversity found in Hong Kong waters to educate, engage, and motivate the Hong Kong public to protect Hong Kong’s marine biodiversity. Others 990,000 On-going Operation Dawn Swire-CLP CSR Empower people who su昀昀er Partnership Project from substance abuse by on Sustainable Dawn building a self-sustaining Island shelter island. Ocean3C Limited The Ocean and Us: A Train-the-Trainer program Marine 605,000 On-going Unravelling our aimed to nurture, equip, conservation profound connections and empower Hong Kong educators to enhance their Ocean Literacy. RUN Hong Kong Refugee - PATHS for Empower the refugee and Education 1,003,800 On-going the Future Education asylum seeker community in Programme for Hong Kong through upskill refugees and asylum learning programmes to aid seekers them becoming self-reliant and 昀椀nding secure employment in their future country of resettlement. Resolve Foundation disABILITIES Supporting the 2020 Education 607,000 On-going Limited Empowerment and Fellowship Programme, which aims to train future community Leadership Training for Community Inclusion leaders from the local disability community about leadership, rights awareness and campaigning skills. Shakespeare4All Company S4A Community Fostering experiential learning Arts 990,000 On-going Limited Theatre HUB for children through English drama education. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 60

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) St James’ Settlement Quarryside 舍區 Create a special community Others 15,000,000 On-going hub for the Eastern District to foster a closer, vibrant, and sustainable community. The Hong Kong The Orchestra Enhance professional training Arts 8,996,000 On-going Philharmonic Society Academy for distinguished graduates Limited from HKAPA’s School of Music who will contribute their talents to serve the community. Hong Kong Academy for Performing Arts The Outward Bound Trust Foundations for Provide peacebuilding Education 5,427,960 On-going of Hong Kong Limited Success leadership learning experiences for disadvantaged young people to cultivate compassionate and resilient citizens with a sense of community who will be e昀昀ective contributors to Hong Kong. The Zubin Mahtani Gidumal Supporting EM Youth Supporting scholarship Education 1,158,000 On-going Foundation Limited with Scholarship opportunities for ethnic Opportunities minorities and o昀昀ering scholarships to 昀椀nancially disadvantaged ethnic minority students. Time Auction Limited Mobilizing Volunteers Creating a digital matching Others 2,913,000 On-going For Good platform to help NGOs recruit skilled volunteers. Teach for Hong Kong TrustTomorrow 21st Placement of fellows from Education 3,094,750 On-going Foundation Limited Century Education diverse background in Fellowship high-need schools to bridge education inequity. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 61

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) The Hong Kong Council of Building Community, Empower the deprived remote Education 14,000,904 On-going Social Service (HKCSS) Building Tung Chung community of Tung Chung through driving a 5-NGO- (Phase 2) partnership community-based holistic service model to strengthen career competence in young people, engaging Hong Kong Sheng Kung Hui communities through sports, Welfare Council engage families with young children through play, and upskill young ethnic minorities to promote an inclusive community. InspiringHK Sports Foundation Playright Children’s Play Association The Zubin Mahtani Gidumal Foundation Limited The Hong Kong Bird Marine and Wetland Support to further enhance Marine 2,993,000 On-going conservation Watching Society Conservation in Hong scienti昀椀c knowledge and Kong & the Chinese capacity building on seabird Mainland monitoring. Engage and educate the public to conserve marine and wetland environments. Marine 3,577,000 On-going Supporting The Nature The Nature Conservancy Managing Pak Nai’s Hong Kong Foundation Ecologically Important Conservancy through a conservation limited Habitats to Preserve partner-based (community, academic and various NGO its Natural Beauty and Sensitive Biodiversity partners) approach to protect, manage, and restore the mosaic of Pak Nai’s critical habitats for the long-term bene昀椀t of native biodiversity and species of conservation importance. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 62

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) The Pew Charitable Trusts Pew Fellows Program Award three fellowships to Marine 6,973,600 On-going in Marine Conservation mid-career experts from Hong conservation Kong, thereby increasing – “Pew Marine Fellows marine conservation science Program” capacity, contributing key information to marine policy and management, and raising public awareness of ocean conservation issues in the region. Education 220,000 On-going The Zubin Mahtani Gidumal The Zubin Foundation Support 昀椀nancially needy Foundation Limited Young Women ethnic minority female Scholarships students to receive tertiary education. The University of Hong SWIMS Coastal Science Establish the Swire Coastal Marine 5,372,000 On-going Kong, Swire Institute of Centre and Outreach Outreach Hub and expand conservation Marine Science (SWIMS) Programs SWIMS’ capacity to communicate its research and help build a sustainable marine environment for Hong Kong. The University of Hong SWIMS-FishBase/ Created standardised and Marine 1,305,507 Completed reliable data to assist the conservation Kong, Swire Institute of SeaLifeBase phase Marine Science (SWIMS) II Collaboration on development of marine- International Marine related policies and strategies. Databases Vocational Training Council The Swire Sky-Flyer Equipping VTC students with Education 5,379,000 On-going Work-integrated professional knowledge and skills for future careers, and Learning Programme providing scholarships and subsistence allowances for work placements. YAMA Foundation YAMA Foundation Enable the Foundation Education 600,000 On-going Operational Growth long term strategic growth to pioneer the accessible wellbeing movement in Hong Kong, paving the way for a healthier and more inclusive society. Christian Concern for the Relief and Support Provided a relief and support COVID-19 2,632,048 Completed Homeless Association Program for the programme via rental Underprivileged Round assistance, food coupons, 1 & Round 2 and counselling for the underprivileged, especially the homeless and people living in poor housing (Shum Shui Po and Cheung Sha Wan districts). SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 63

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) Everbright Concern Action Meals for the needy - Fed the needy in the Yau Tsim COVID-19 800,000 Completed (Gingko House) 5th COVID wave Mong districts during 5th wave of COVID. Feeding Hong Kong Limited FHK Emergency: Helped low-income families COVID-19 2,000,000 Completed Feeding Hong Kong and seniors a昀昀ected by job through the 5th wave disruptions, loss of income, and rising food prices, as well as those who previously relied on food support that has been scaled back or paused due to the pandemic. Hong Kong Dignity Project Mobilize Met the basic needs of the COVID-19 308,346 Completed Institute refugee and asylum seeker community to mitigate the devastating impact of COVID on their lives. Impact HK Community Centre for A 3-year support to keep COVID-19 2,799,374 On-going Homeless Impact HK’s community centre, located at Tai Kok Tsui, open to service the homeless community. Multiple NGOs 2022 Community Fund The fund aims to support COVID-19 9,000,000 On-going to 昀椀ght COVID-19 NGOs to deliver services to address the disadvantaged community’s essential needs for their overall well- being, due to the increased community needs and restriction of group activities due to the 昀椀fth wave of COVID-19. Multiple NGOs See You Online 1.0 The fund aimed to support COVID-19 328,540 Completed and 2.0 NGOs to provide interactive and interesting educational online events to address challenges that families are going through during the di昀昀erent waves of COVID in Hong Kong. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 64

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Grant Project status Partner approved (as at organisation Project name Project details Core area (HK$) 31 Dec 2022) Hong Kong Sheng Kung Hui TC together - Elderly Provided tangible support COVID-19 800,000 Completed Welfare Council Support Service to Tung Chung elders and Project build up social networks between volunteers and elderly to reduce the impact of Neighbourhood Advice- COVID-19. Action Council Hong Kong Sheng Kung Hui CU2@Tung Chung Matched up tertiary educated COVID-19 1,200,000 Completed Welfare Council (Care + Connect for youth/knowledgeable youth to You@Tung Chung) provide educational assistance and social support to vulnerable children (local and The Zubin Foundation ethnic minorities) who come from under-privileged families in Tung Chung, generating job opportunities for youth during the Covid crisis. Self Strengthening Service ‘Hot Meal, Warm Supported underprivileged COVID-19 720,000 Completed Centre (Holy Café) Heart’ Community groups with free hot meals due Food Assistance @ to overwhelming demand post Shum Shui Po 1st & 2nd 5th wave of the pandemic. Rounds St James’ Settlement Short-term food Provided underprivileged COVID-19 6,147,375 Completed assistance through families and individuals Joyful Express Project (including those from ethnic minorities) with food, daily necessities and employment opportunities. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 65

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Case study Matching volunteer skills with NGO needs and recognising excellence Since receiving support from of pro bono services, generating of attractive Swire gifts from our Swire Trust in 2020, Time Auction an estimated commercial value of operating companies and NGO has grown exponentially as Hong approximately HK$16 million. partners. 20 distinguished Go-Givers Kong’s 昀椀rst skill-based volunteering Meanwhile, the Swire Trust Go- were also nominated by NGOs in the matching platform. Over 3,000 skilled Givers programme on the platform past two years to recognise them volunteers were matched with 600 contributed towards incentivising for their exceptional work and were NGOs to provide over 50,000 hours volunteers by providing a range rewarded with Asia Miles. Supporting our communities through our sta昀昀 In 2022, the Swire Trust’s TrustTomorrow volunteering programme enabled sta昀昀 across the Group to contribute 1,748 hours of service to 54 meaningful activities. Through these activities, our sta昀昀 provided direct support to our community and gained a deeper understanding of various social needs. Pak Nai is a hotspot for marine biodiversity in Hong Kong. Case study Improving the natural habitat of Pak Nai Some sta昀昀 were able to use this as Oyster reef recon昀椀guration with The team building exercises, including lorry Nature Conservancy has been one of the signature volunteering events drivers from Swire Coca-Cola Hong for the TrustTomorrow volunteers. Kong. Not only did our colleagues like working to enhance Hong Kong’s Our sta昀昀 have been hugely involved in improving the natural habitat biodiversity, but they also enjoyed learning more about environmental of Pak Nai by performing a range of volunteering services, ranging issues that the Swire group supports. from invasive cordgrass removal, aquaculture debris clean-up, and oyster reef rebuilding. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 66

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Climate Waste Water People CCoommmumuninititieses Secondary school students during their 3-week aviation mentorship programme in Hong Kong. Case study Supporting the development of aviation in Hong Kong Swire Trust coordinated with Teach backgrounds were paired up with our part of the industry by studying the right for Hong Kong, Cathay Paci昀椀c, and colleagues from the aviation industry for courses,” expressed one of the students. HAECO Hong Kong to create an mentoring. The students were also given Our colleagues were also able to take aviation mentorship programme the opportunity to visit Cathay City as well something away through this experience. for secondary school students at as HAECO hanger to expand their horizon A colleague in management said, “I was Delia Memorial School (Hip Wo in this 昀椀eld. grateful for this mentoring opportunity. No.2 College). During the 3-week “This programme helped me realise that It gave me a window to look into the programme, 15 ethnic minority there is more to aviation than just pilots lives of students from less privileged students from underprivileged and cabin crew, and that I too can be a backgrounds.” Trading & Swire Paci昀椀c Swire Trust Property Beverages Aviation Industrial (Head o昀케ce) Total value of cash contributions (HK$) 55,024,256 25,183,320 8,467,001 190,663 662,548 8,355,395 Value of in-kind contributions (HK$) - 26,280,027 6,659,128 55,000 - - Volunteering hours 1,748 6,129 64,699 216 353 - Supporting our communities Looking forward through our businesses TrustTomorrow continues to support Our operating companies contribute inspirational projects in education, marine directly to the communities in which we conservation, and the arts, connecting operate. We want to connect our projects our people, our partners, and the in order to learn from each other. We community to build social capital, create aim to operate in a way that builds our opportunities, and motivate lasting business, our people, and the communities positive change for a better tomorrow. in which we operate. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 67

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices OvOveerrvivieeww Assessing materiality Stakeholder engagement ABOUT OUR REPORT Overview This is our 16th annual sustainable Engine Services Limited (HAESL), a joint Reporting frameworks development report. It was published venture between RollsRoyce plc (50%) This report complies with the in April 2023 and covers the 昀椀nancial and HAECO (50%) is also excluded, as Environmental, Social and Governance year from 1st January to 31st December shareholders have joint control. Cathay Reporting Guide in Appendix 27 to The 2022. We aim to provide an accurate Paci昀椀c and HAESL publish their own and balanced account of the Group’s sustainable development reports, which Rules Governing the Listing of Securities performance and progress in material can be accessed via their corporate on the Stock Exchange of Hong Kong areas of sustainability. websites. under Hong Kong Exchanges and Clearing Limited (HKEX). It has been prepared with reference to the Global Reporting This report focuses on the 昀椀ve areas of We have restated past data to exclude Initiative (GRI) Standards. GRI and HKEX SwireTHRIVE – Climate, Waste, Water, data relating to Cathay Paci昀椀c and content indices are provided. People and Communities – as these HAESL for comparative purposes. As are the Group’s strategic sustainability recommended in the GHG Protocol’s We refer to the Task Force on Climate- priorities. We also deal with matters which Corporate Value Chain (scope 3) are important to stakeholders, required Accounting & Reporting Standard, we have related Financial Disclosures (TCFD) and for compliance with regulations or which the GHG Protocol. included a proportion of Cathay Paci昀椀c’s rating agencies expect us to address (see carbon emissions under the Group’s scope Other ESG disclosures section). 3 (category 15) emissions given their Explore more This report deals with the Group as a materiality and their interest to readers of this report. The proportion is 45%, which whole. We also highlight information is the same as our percentage ordinary About Swire Paci昀椀c about individual subsidiaries. Some subsidiaries produce their own shareholding interest in Cathay Paci昀椀c. SwireTHRIVE sustainability reports. They can be found The report continues to cover subsidiaries Other ESG disclosures on our corporate website. The report is of Swire Paci昀椀c. Performance data (except in English and traditional Chinese. It can as indicated above in respect of Cathay Assessing materiality be viewed online or downloaded as a PDF Paci昀椀c’s carbon emissions) is reported on a Performance data from the report website. Performance 100% basis and has not been proportioned data can be downloaded as a CSV 昀椀le. to re昀氀ect Swire Paci昀椀c’s shareholdings GRI/HKEX Index This report has been approved by in subsidiaries. We do not include newly our Board. acquired entities until we have a full TCFD calendar year’s data from them. In 2022, Swire Paci昀椀c exited the marine Report boundary services industry. Performance data We exclude companies from our report for Swire Paci昀椀c O昀昀shore business is boundary which we do not control. The included in this report up to the date of sale. The scope, boundary and calculation principal e昀昀ect of this is to exclude Cathay methodology for speci昀椀c data points Paci昀椀c, which we do not control because it are disclosed in a separate reporting is an associate. Cathay Paci昀椀c has its own board of directors, who are responsible methodology document. for ESG related matters. Hong Kong Aero SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 68

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices OvOveerrvivieeww Assessing materiality Stakeholder engagement External assurance We value your feedback Further reading Certain data points are the subject of We welcome views and feedback on our Sustainable development reports limited assurance by Deloitte. Please see report. Please send your comments and of our operating companies the Independent Assurance Report. other sustainability related enquiries to: Reporting Methodology sd@swirepaci昀椀c.com Other disclosures (852) 2840 8888 Independent Assurance Report Sustainable Development O昀케ce Our Swire Paci昀椀c Annual Report 2022 Swire Paci昀椀c Limited Swire Paci昀椀c Annual Report 2022 deals with our 昀椀nancial and operational 2203 Oxford House, Taikoo Place performance and corporate governance. 979 King’s Road, Quarry Bay, Hong Kong We respond to enquiries from investors and provide information to the CDP (Climate and Water), the DJSI, FTSE4Good, MSCI, Hang Seng Sustainability Indices and other organisations which assess the economic, environmental and social performance of companies. The Sustainable Development O昀케ce team Mark Harper Bonnie Lau Haily Chan Aaron Sloan Group Head of Sustainability Executive Assistant Sustainable Sustainable Development Manager Development Manager Sam Smith Dori Jin Francis Lee Ada Law Sustainable Assistant Manager – Senior O昀케cer – Assistant Manager – Development Manager Sustainable Development Sustainable Development Sustainable Development SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 69

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview AAsssseesssisinngg m matateerriaiallitityy Stakeholder engagement ABOUT OUR REPORT Assessing materiality The coverage of our annual sustainable In-depth assessment materiality and impact materiality. The development report is determined by We regularly review our materiality topics approach determines topics that positively reference to a detailed GRI-aligned and conduct an in-depth assessment or negatively in昀氀uence enterprise value materiality assessment. The assessment every two years. In 2021, we conducted (昀椀nancial materiality), as well as those identi昀椀es and evaluates the sustainability a comprehensive materiality assessment that re昀氀ect the impacts we have on issues most important to our businesses that applied the concept of double the economy, environment, and people and stakeholders, for the year under (impact materiality). review, at the time of the assessment, and materiality, which considers both 昀椀nancial in the near future. Information on economic value creation at the Financial level of the reporting company for the benefit of materiality investors (shareholders). Double materiality Information on the reporting company’s impact on the economy, environment Impact and people for the benefit of multiple materiality stakeholders, such as investors, employees, customers, suppliers and local communities. Source: GRI. (2022) Our double materiality assessment had three phases: 1 Identi昀椀cation 2 Prioritisation 3 Validation A list of potential material An external consultancy vulnerability to the impacts of Results were validated issues was produced conducted one-on-one each topic, taking account of by the those with with reference to the GRI interviews and focus group the level of controls in place management Standards, sustainability discussions with our internal to manage the impacts, our responsibilities for ratings questionnaires, the and external stakeholders. readiness to respond and the sustainable development, sustainability reports of Members of management degree to which we can control risk management, 昀椀nance, our operating companies were asked to determine the impacts. public a昀昀airs, and sta昀昀 and global sustainability the actual or potential Our business partners, matters (see materiality goals and priorities. impact of each topic on the investors, peer companies and matrix). Topics in the Group’s enterprise value civil society representatives top right quadrant are using the six areas of our were engaged to evaluate considered material and enterprise risk management the severity and likelihood should be managed and reported on. framework (昀椀nancial, of the Group’s positive and disruption, reputation, negative impacts for each topic, regulatory, human and considering scale, scope and strategic). They were also whether impacts are reversible. asked to consider the Group’s SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 70

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview AAsssseesssisinngg m matateerriaiallitityy Stakeholder engagement Materiality matrix H G I H t en m n o r i v en e h t Environment d an Social y t Governance e i c o s n o t c Impa W O L LOW HIGH Impact on enterprise value Assessing impact the 昀椀nancial impact is signi昀椀cant (e.g. To assess the impact on society and Energy use, GHG emissions and renewable Explore more energy), or it could indicate an emerging the environment, we evaluated (a) the issue where we may need to strengthen SwireTHRIVE likelihood that each sustainability issue’s our policies and practices to reduce our potential or actual impact might happen vulnerability (e.g. Biodiversity, Public in the next 3 to 5 years, and (b) the health and Employee wellbeing). Detailed severity if it happens and its impact on stakeholder feedback is analysed and the environment, economy, and people in insights from the materiality assessment terms of scale, scope, and remediability or exercise are shared with the leadership irreversibility. team and relevant departments. Scores for impact on enterprise value How the Group impacts on society and (x-axis) consider both vulnerability the environment through our material and impact. A high score may re昀氀ect topics is described under SwireTHRIVE. areas where we already have robust This includes any impacts to be mitigated management controls in place but where and topics on which we generate value for our stakeholders, and which may in昀氀uence the decision making of our providers of capital. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 71

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview AAsssseesssisinngg m matateerriaiallitityy Stakeholder engagement Material topics The table below shows the twelve material issues identi昀椀ed, their de昀椀nitions and the GRI Standards we reference, where applicable. Topic Topic de昀椀nition Material impact GRI reference Own Upstream operations Downstream ENVIRONMENTAL Energy use, GHG Energy e昀케ciency of both direct and indirect energy • • • GRI 302 Energy emissions and consumed and GHG emissions produced in the GRI 305 Emissions renewable energy company business operations and production processes, including transport. The use of and investment in renewable energy sources, which helps decrease emissions. Waste and e昀툀uents Implementation of a systematic and life-cycle • • • GRI 306 E昀툀uents and approach to identify, manage, reduce, and waste responsibly dispose of or recycle e昀툀uents and waste, and shall assess all stages: manufacturing, sale, use and end-of-life; including food and packaging. Climate resilience The ability to prepare for and recover from physical • • GRI 201-2 Financial and other climate risks and transition climate impacts (e.g., extreme weather events, 昀氀ooding of roads and buildings, heatwaves that a昀昀ect workers, carbon pricing, stakeholder expectations for action, etc.) in the regions of operations and distribution. Management of water Implementation of a systematic approach to • • • GRI 303 Water resources conserve, reduce use of, and reuse water in company operations and supply chain, and to stimulate water conservation within its sphere of in昀氀uence and contribute to water positivity. Biodiversity Businesses dependency on biodiversity for their • • GRI 304 Biodiversity inputs and the ecosystem services they provide. The impacts on local ecosystems through the consumption of raw materials and land use, especially where operations are sited in biologically sensitive areas. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 72

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview AAsssseesssisinngg m matateerriaiallitityy Stakeholder engagement Topic Topic de昀椀nition Material impact GRI reference Own Upstream operations Downstream SOCIAL Changing consumer The impact of consumer purchasing decisions • N/A preferences on business, which is increasingly driven by sustainability values (e.g. rejection of plastic packaging, reduction in consumption), and meeting consumer needs through the development and o昀昀ering of sustainable products and services (e.g. alternative materials, circularity, zero waste, and low emissions lifestyles). Talent recruitment and Providing opportunities to promote professional • GRI 401 Employment retention growth and learning among new and existing GRI 404 Training and employees, and matching employee skills with the education needs of the business, to remain an employer of choice and retain key talent. Public health Public health and acute public health events • • • N/A including pandemics may disrupt business operations and supply chains, change consumer behaviour, and have physical and psychological impacts to employees. Employee wellbeing The part of an employee’s overall well-being • GRI 403 Occupational health and safety (physical and psychological) that they perceive to be determined primarily by work and can be in昀氀uenced by workplace interventions Diversity, inclusion and E昀昀orts to ensure that the company workforce (at all • GRI 405 Diversity and non-discrimination levels, including board) re昀氀ects not only the global equal opportunity business strategy in terms of R&D, operations and GRI 406 Non- customer base, but also re昀氀ects the diversity of discrimination the workforce pool in the countries of operation. A commitment to a workforce free of unlawful discrimination involving any distinction, exclusion, or preference that has the e昀昀ect of nullifying equality of treatment or opportunity, and where that consideration is based on prejudice rather than a legitimate ground. GOVERNANCE Cybersecurity, privacy Mitigation, response, and disclosure measures • • GRI 418 Customer and data protection with respect to matters involving cybersecurity privacy risk and incidents, including cybersecurity policies and procedures and the application of disclosure controls and procedures. Approaches to the way employee and consumer data is captured, stored and transferred in a secure manner. Anti-corruption, Commitment to comply with voluntary and • GRI 205 Anticorruption business ethics / fair mandatory regulatory frameworks that are global in GRI 206 Anti- business practices, and scope, as well as established local laws, regulations, competitive behaviour compliance standards, and ethical business practices that GRI 419 Socioeconomic apply to the organisation including: promoting compliance competitive behaviour; preventing anti-competitive practices; complying with regulatory authorities; working against corruption, extortion, and bribery SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 73

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Assessing materiality SStaktakehehooldlderer en engagaggememenentt ABOUT OUR REPORT Stakeholder engagement Understanding the needs and concerns of Engaging to shape our strategy 昀椀nancial institutions, peer companies our stakeholders informs our approach to We continue to engage with our investors and civil society through focus group sustainability and our future activity. Since and employees and with policymakers, discussion and one-on-on interviews 2007, we have engaged with stakeholders • To identify material issues to be covered to understand their expectations and NGOs, the communities in which we operate and other companies. To inform in this report, we conducted four focus their perceptions of our sustainable our approach to sustainable development, groups and three interviews with 12 development performance. Dialogue internal stakeholders (members of maintains trust, gains support for our stakeholders are identi昀椀ed by reference to their expertise in issues material to us, management, Board directors) and 13 activities and occasionally reconciles external stakeholders (academia, civil their in昀氀uence and their willingness to di昀昀ering interests. It also helps us focus collaborate. In 2021, we commissioned society representatives, investors, on areas for improvement so that we an external consultancy to conduct two peer companies). The table shows can take corrective action. We de昀椀ne main stakeholder types, mode of stakeholders as internal and external separate engagement exercises: engagement and the main topics of • To gather targeted feedback on the interest groups who have a signi昀椀cant interest to them. impact on our business or who are refreshed SwireTHRIVE 2.0 strategy, we engaged 15 experts from academia, signi昀椀cantly a昀昀ected by our operations. Board members Senior leadership NGOs and activists Mode of engagement Mode of engagement Mode of engagement Board meetings, interviews Interviews and executive meetings Focus groups, interviews, multi-stakeholder Sustainability topics Sustainability topics initiatives (e.g. Drink Without Waste) Energy use, GHG emissions and renewable Energy use, GHG emissions and renewable Sustainability topics energy; Waste and e昀툀uents; Impact of energy; Impact of technology and Biodiversity; Energy use, GHG emissions technology and innovation; Changing innovation; Unstable geopolitical context; and renewable energy; Material and consumer preferences; Talent recruitment Waste and e昀툀uents; Changing consumer resource use; Waste and e昀툀uents; Product and retention. preferences; Talent recruitment and quality and safety; Changing consumer retention. preferences; Cybersecurity, privacy and data protection. Investors Peer companies Industry associations and competitors and chambers of commerce Mode of engagement Mode of engagement Mode of engagement Meetings, focus groups Focus groups, committees, events Meetings, focus group Sustainability topics Sustainability topics Sustainability topics Energy use, GHG emissions and renewable Climate resilience; Material and resource Material and resource use; Waste and energy; Material and resource use; use; Waste and e昀툀uents; Unstable e昀툀uents; Talent recruitment and Management of water resources; Waste geopolitical context; Talent recruitment retention; Cybersecurity, privacy, and data and e昀툀uents; Procurement practices. and retention; Workplace health and protection; Governance. safety; Procurement practices. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 74

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Assessing materiality SStaktakehehooldlderer en engagaggememenentt Engaging to deliver progress Responding to stakeholder We continue to engage with our investors feedback and employees and with policymakers, Feedback we receive from stakeholders NGOs, the communities in which we informs our approach to sustainable operate and other companies. We do this development strategy development, our to understand how our operations impact policies, practices, and target setting. In on society and environment, and to foster our most recent engagement activities, communication and collaboration to both internal and external stakeholders address challenges. highlighted how the changing external Our operating companies engage their environment from the global pandemic stakeholders to facilitate the delivery of and geopolitical tensions has posed solutions to shared challenges. Through extra challenges for Swire Paci昀椀c on Swire Coc-Cola’s active involvement in social issues, including traditionally well- multi-stakeholder initiatives including managed issues. This is true of issues related to employees, the governance of Ellen MacArthur Foundation’s New social issues, and community. Plastics Economy Global Commitment, The Coca-Cola Company’s World Without Stakeholders considered Talent Waste goals and local initiatives such as Recruitment and Retention, Employee Drink Without Waste in Hong Kong, it is Wellbeing, and Workplace Health and supporting transition to a circular system Safety Related to be topics requiring that minimises waste generation and strong management practices. Read about associated carbon emissions reduction. our management of these topics in People Swire Properties’ Green Performance and Talent Management. Pledge (GPP) is centred around a Governance of social issues included the performance-based agreement to deepen topics of Human Rights Governance, landlord-tenant partnerships from 昀椀t and Labour Practices and Child Labour out through operation. Its Green Kitchen and Forced Labour. Read about Initiative provides a platform for portfolio our management of these topics in management teams and tenants to Supply Chain. have sustainability conversations before Community topics raised by our 昀椀t-out. It also engages tenants to o昀昀er free energy audits to help them identify stakeholders included Local Development energy-saving opportunities. and Income Inequality. Read about our management of these topics in HAECO works with local partners where Communities. it operates to achieve common goals. This includes supporting the Hong Kong Airport Authority’s 2050 Net Zero Carbon Pledge and working with suppliers in pursuit of a low impact and highly sustainable supply chain. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 75

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices OvOveerrvivieeww Governance Supply chain Talent management Customers Biodiversity OTHER ESG DISCLOSURES Overview This section contains information on ESG topics not covered by SwireTHRIVE, but where we feel it is important to disclose what we are doing. These topics are of interest to investors, ratings agencies, our employees, and others. Some disclosures are required to comply with the HKEX ESG Reporting Guide or the GRI Standards. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 76

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview GGoveoverrnnaannccee Supply chain Talent management Customers Biodiversity OTHER ESG DISCLOSURES Governance We conduct our a昀昀airs in accordance Our representatives in joint venture and All new employees take part in induction with high ethical standards and our associated companies and contractors programmes that include anti-corruption values of integrity, endeavour, excellence, who are hired to conduct business on our training. Additionally, 100% of our humility, teamwork and continuity. We behalf are expected to act in accordance directors completed anti-bribery and must act with probity, transparency and with the Code of Conduct, and in昀氀uence anti-corruption training over the past accountability to achieve our long-term those with whom they are working with to two years. Our operating companies also objectives. Doing this will maximise follow similar standards of integrity and implement their own anti-corruption long-term shareholder value and bene昀椀t ethical behaviour. training programmes for employees employees, those with whom we do The Code of Conduct and anti-bribery and directors. Their approaches to business, and the communities in which training is included in the induction implementing anti-corruption practices we operate. Our core principles include a programme of all employees. Our and training are outlined in their commitment to sustainable development. conditions of employment require respective sustainability reports. compliance with the Code of Conduct. In 2022, there were 29 cases of Our approach whistleblowing and three reports of breaches of the Code of Conduct. Our approach to corporate governance Anti-corruption can be found in our Corporate Governance All cases have been investigated. As at Code, our Memorandum and Articles of The Group complies with the anti- 31 December 2022, two cases have been Association, our Board Diversity Policy, corruption laws of the countries in which resolved and the investigation of one we do business. Our Corporate Code of case remains in progress. None of the and the Swire Paci昀椀c Annual Report 2022. Conduct sets out the Group policy on three breaches of the Code of Conduct We are subject to the Corporate con昀氀icts of interest, competition and in 2022 were material to the Group’s Governance Code in Appendix 14 to The anti-trust, and bribery. Business units 昀椀nancial statements or overall operations. within Swire are required to establish Rules Governing the Listing of Securities The number of breaches to speci昀椀c on The Stock Exchange of Hong Kong their own Code of Conduct which include principles within the Code of Conduct is procedures designed to put these general Limited (Hong Kong Listing Rules). shown below. During 2022, Swire Paci昀椀c For details of our governance of principles into practice. did not have any breaches related to sustainability matters, see Our Approach Our Whistleblowing Policy applies Bribery, Business ethics, Competition and to Sustainable Development. to all employees and others who antitrust, Con昀氀icts of Interest, Gambling, deal with us to raise concerns about Health and safety and the environment, suspected improprieties, or report Political activities and contributions, Business ethics actual improprieties, including potential or Privacy. Our Corporate Code of Conduct requires misconduct, malpractice, or unethical employees to maintain the highest behaviour. Con昀椀dential reports can standards of business ethics and to deal be made to the Group Internal Audit appropriately with each other, those Department via a designated third-party with whom we do business, and the service provider, or to relevant line communities in which we operate. The management or Human Resources with no Code of Conduct includes operating fear of retaliation. principles covering business ethics, con昀氀icts of interest, bribery, procurement, record keeping, whistleblowing, health and safety, the environment, equal opportunities, diversity and respect in the workplace, and privacy. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 77

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview GGoveoverrnnaannccee Supply chain Talent management Customers Biodiversity Number of breaches to Code of Conduct Principles 2021 2022 Further reading Bribery 3 0 Board Diversity Policy Con昀氀icts of interest 1 0 Corporate Code of Conduct Diversity and inclusion and respect in the workplace 2 2 Corporate Governance Code Procurement 0 0 Memorandum and Articles of Association Use of information and property 0 1 Our Values, Core Principles and Investment Principles Legal compliance We have reviewed laws and regulations relating to sustainability to identify Reporting of Improprieties We operate in di昀昀erent jurisdictions those where signi昀椀cant investment or with di昀昀erent legal and regulatory expenditure would be required to ensure Swire Paci昀椀c Annual Report 2022 requirements. It is our policy to comply compliance. We have concluded that there in full with all applicable laws and Swire Paci昀椀c Whistleblowing Policy regulations, including those governing are no such individual laws or regulations which currently have a material impact on Swire Paci昀椀c Annual Report the environment, employment (including laws prohibiting child or forced labour), the Group. 2022 – ESG risk management health and safety, products (including their advertising and labelling), bribery, Public policy and political privacy and discrimination. We have contributions Explore more policies, codes, guidelines and practices ESG risk management in place to ensure that the Company Swire Paci昀椀c, as a normal business activity, and its subsidiaries comply with all will lobby government entities either applicable laws and regulations. Emerging directly or through trade associations to regulations are closely monitored to promote policies that encourage business ensure we are prepared for any changes. and achieve workable legislation. All our public policy work must meet the ethical The Audit Committee is responsible for standards set out in our Code of Conduct reviewing the Code of Conduct and Swire and (where relevant) re昀氀ect our public Paci昀椀c’s compliance with the Corporate sustainability commitments. Governance Code set forth in the Hong Kong Listing Rules. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 78

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Governance SupSupppllyy chai chainn Talent management Customers Biodiversity OTHER ESG DISCLOSURES Supply chain Responsible supply chain management Sustainable Procurement Policy Our supply chain by division is critical to mitigating 昀椀nancial risk, Our Sustainable Procurement Policy maintaining business continuity, and references the sustainable procurement protecting our reputation. It is integral guidance in ISO 20400:2017. It requires to protecting and empowering workers our operating companies to establish a Property in our supply chain and helping to ensure process to identify potential sustainability the sustainable availability of natural risks in their supply chains and develop resources. a segmented approach to managing Swire Properties’ principal suppliers We source from thousands of suppliers in suppliers based on those risks. perform or assist in the planning, countries across the globe. They provide Under the policy our operating companies design, construction, marketing, sale, goods and services including aircraft parts, leasing, management, maintenance and should integrate the SwireTHRIVE demolition of properties fuel, food products, packaging materials, principles and other material sustainability cleaning services, o昀케ce supplies, and considerations into supplier selection uniforms. and retention. Preference should be We advocate inclusive, ethical and given to suppliers that have ISO-certi昀椀ed Beverages sustainable procurement practices. We management systems in place, and that aim to source all key materials responsibly can signi昀椀cantly contribute to helping and sustainably, in a way that does not the company achieve its sustainable development objectives. Preference Supplies obtained directly from TCCC degrade nature and ensures that the include juices, concentrates and other people who produce them are treated should be given to products which do ingredients, fountain packaging and with dignity and respect. This is what not adversely a昀昀ect the environment advertising materials. Goods which TCCC our investors, those with whom we do and that can help us reduce our authorises third parties to supply include business, and the communities in which environmental impact. packaging, speciality merchandise, sales we operate expect. Consumers are and marketing equipment, sweeteners Supplier Code of Conduct and carbon dioxide demanding responsible products and looking for supply chain transparency. Our Supplier Code of Conduct (SCoC) sets out the Group’s requirements for responsible sourcing. It applies to all Our approach suppliers and contractors of all Group Aviation subsidiaries, associated, and joint venture We do not have a central procurement companies. Suppliers are expected to function. Each operating company is cascade the SCoC’s requirements to their Principal suppliers are manufacturers responsible for its own procurement. own suppliers such that they apply to of aircraft and engine components However, we have policies and guidelines multiple tiers in our supply chain. and suppliers of fuel and engineering that set out the Group’s expectations of services suppliers. The SCoC is based on the International Labour Organization (ILO) Declaration All sta昀昀 involved in making procurement on Fundamental Principles and Rights at decisions must adhere to the Swire Work and the Ethical Trading Initiative Trading & Paci昀椀c Sustainable Procurement Policy (ETI) Base Code. It requires regulatory Industrial in conjunction with the respective compliance, prohibits forced or child procurement policies of each operating labour, and sets out our expectations on company, the Swire Paci昀椀c Supplier Code health and safety, environmental issues, The principal suppliers of footwear of Conduct, and the Swire Paci昀椀c Human compensation and working hours, human and apparel to Swire Resources and Rights Policy. rights, subcontractor management, and of vehicles to Taikoo Motors are ethics and reporting. international brand-owning companies, with their own sustainability policies and standards. Taikoo Sugar’s principal suppliers are sugar re昀椀neries which commit to criteria outlined in its supplier code of conduct SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 79

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Governance SupSupppllyy chai chainn Talent management Customers Biodiversity We monitor and assess compliance Our actions Sustainable materials with the code and other sustainability Supply chain management Swire Properties tracks consumption performance criteria. Where gaps are Swire Properties requires service of o昀케ce supplies, building services identi昀椀ed, we may require suppliers to equipment and building materials that undergo audits and to develop and adopt providers to perform well in the areas of health and safety, the environment, meet speci昀椀c environmental criteria, such appropriate corrective action plans to procurement, management and quality. It as certi昀椀cations and accreditations by ensure compliance, with a focus on those reputable, independent third parties. The deemed high risk. has set a target for 100% implementation data is used to evaluate its sustainable of its Supplier Code of Conduct (SCoC) in procurement performance and to Human Rights Policy all portfolios. Our Human Rights Policy is informed by identify opportunities for sourcing more the International Bill of Human Rights and It is standard practice to require that sustainable products. An assessment all suppliers in Hong Kong, Chinese in 2021 showed HK$946 million of by the International Labour Organization’s Mainland and Miami, U.S.A. comply with sustainable products were procured, Declaration on Fundamental Principles and Rights at Work. We comply with the SCoC. New suppliers must complete representing 12% of its total 2021 self-assessment questionnaires to con昀椀rm procurement spend in Hong Kong and the national laws where they con昀氀ict with that they have appropriate policies and Chinese Mainland. human rights standards but still do systems in place to comply with the SCoC. our best to respect the latter. We seek Due diligence is performed to verify Swire Properties speci昀椀ed low-carbon to include, in our agreements with the responses and sites may be visited. concrete, reinforcement bar (rebar) suppliers and contractors, provisions and structural steel in its contract for which encourage them to adhere to the Independent certi昀椀cation in accordance a new development in Hong Kong. It principles in our policy. with internationally recognised standards, is working with Tsinghua University to and the submission of environmental and explore the availability of low-carbon Our Sustainable Supply Chain Working health and safety management plans, may building materials in the Chinese Group convenes senior procurement be requested for internal review. Mainland. Swire Properties tracks the managers from our operating companies In 2022, it conducted a review of its consumption and environmental impacts to share best practices and develops SCoC to ensure alignment with global sustainability policies and guidelines for of speci昀椀c construction materials such suppliers. best practices and completed its annual as timber, concrete, and rebar, which compliance assessment of over 300 Tier-1 enables benchmarking across its new suppliers with its code. developments. It aims to promote Further reading The compliance by Swire Coca-Cola’s greater innovation and availability of suppliers of critical materials and low-carbon building materials by sharing Supplier Code of Conduct ingredients for beverages, packaging and its experience with primary contractors any items with TCCC’s logo with TCCC’s and building material suppliers through Sustainable Procurement Policy Supplier Guiding Principles is audited by publications, presentations at conferences Human Rights Policy third parties. Knowledge is shared with and other methods. other Coca-Cola bottlers in the Chinese Swire Coca-Cola has committed that Mainland to manage procurement by 2025 key agricultural ingredients better. This facilitates the identi昀椀cation (sugar and corn) will come from sources and selection of suppliers who follow veri昀椀ed by third parties to be sustainable. appropriate procurement principles. It estimates the carbon emissions HAECO identi昀椀es its critical suppliers associated with its packaging. A tracking based on volume and asks them to system, introduced in 2020, helps identify complete self-assessment surveys. improvement areas and communicate its It assesses their compliance with its decarbonisation strategy to suppliers. requirements and engages with them HAECO is developing sourcing policies based on their responses. This is done for key materials such as plastic, fuel and every two years. Critical supplier gas to provide procurement and buying audits are conducted periodically when teams with guidance to make more necessary. responsible choices. For more information on our operating companies’ approaches to sustainable procurement, please refer to their 2022 sustainability reports. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 80

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Governance Supply chain TTaalleentnt m maannagageemementnt Customers Biodiversity OTHER ESG DISCLOSURES Talent management At Swire, we aim to provide rewarding New hire rate by region 2021 and ful昀椀lling careers where our people 54% 53% can reach their full potential. We provide 2022 44% competitive remuneration and bene昀椀ts designed to attract, motivate and retain 31%32% talent at all levels. We recognise the 19% importance of personal and professional 17%17% 17% growth and invest in the development and 5% wellbeing of our people. Hong Kong Chinese Taiwan USA Others & Macau Mainland Attracting and retaining talent We o昀昀er competitive remuneration and New hire rate by gender Male employee bene昀椀ts, including medical Female bene昀椀ts, retirement schemes, and 29% 28% bonuses. The Group provides recreational 26% facilities such as holiday homes and 23% leisure boats. We try to recruit locally, searching locally before searching internationally. Normally, vacancies are open 昀椀rst to our own people, then locally, and 昀椀nally 2021 2022 internationally. Remuneration decisions are based on roles and responsibilities, individual and business performance, and Voluntary permanent employee turnover 2021 conditions in the employment markets rate by region 38%41% 2022 and economies in which we operate. Work 31% schedules are determined by job roles and 26% 28% local labour laws. Our parental leave policy provides 14 13%14% 13% 11% 10% weeks’ leave for the primary caregiver and four weeks’ leave for the secondary caregiver. The People section of Hong Kong Chinese Taiwan USA Others this report provides details on our & Macau Mainland employment policies and practices. In 2022, our new hire rate was 26% Voluntary permanent employee turnover Male and the average sta昀昀 tenure was 8.4 rate by gender Female 22% years. Sta昀昀 turnover is monitored with 21% 21% a view to identifying and managing 19% problems as they arise, and to retaining talent. The voluntary turnover rate for permanent sta昀昀 was 22% in 2022, up from 20% in 2021. 2021 2022 SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 81

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Governance Supply chain TTaalleentnt m maannagageemementnt Customers Biodiversity Our goal is to enable our employees activities, classes for interest groups and Building a pipeline of future to 昀氀ourish, encouraging them to take community services for our employees. leaders pride in our culture and to give them an Subsidiaries also organise their own Our in-house leadership development experience which inspires them to do their employee wellness and engagement company, Ethos International, designs best for our businesses. and delivers learning and development activities (see People and Communities • Induction sessions for new Swire Paci昀椀c sections). HAECO Hong Kong’s GoHAECO programmes for our management sta昀昀. Managers with high potential attend sta昀昀 cover our organisational structure, app facilitates sharing, entertainment, history, principal operations, Code of learning and rewards. Over 2,000 business management and executive Conduct, sustainable development employees have used the app. Swire programmes at INSEAD and Stanford University. Ethos International’s training (including SwireTHRIVE), intranet and Paci昀椀c (head o昀케ce), and Taikoo Motors programmes emphasise sustainability and sta昀昀 association. regularly feature sta昀昀 stories in internal • We do our best to ensure that newsletters. aim to develop a strong corporate culture employees receive regular, objective, and leadership style that is consistent with fair and open assessments of their our values. performance and are rewarded Explore more Every year, we recruit high-calibre accordingly. Depending on the individuals with a view to developing operating company and job duties People them into future leaders within the Group. of the individual, between 63-100% Communities Through three structured programmes, of employees at Swire Paci昀椀c (head which focus on management, 昀椀nance o昀케ce), Swire Properties, Swire Coca- and human resources, we provide them Cola Limited, HAECO and our Trading Training and development with coaching, mentoring and various & Industrial Division receive individual development initiatives. Sustainable performance reviews. We develop our people by on-the-job development and the business • Employees who have received notice learning, mentoring, coaching, classroom opportunities it creates is covered in of termination of their employment training and online learning. In 2022, the their training. can access professional counselling average number of hours of training per through our personal assistance and employee was 38 hours, a 10% increase outplacement service for six months from the previous year. Overall, 57% after termination. The service is of male sta昀昀 and 52% of female sta昀昀 Further reading designed to help them search for new received training in 2022. On average, jobs and to adjust to their change of we spent over HK$590 per employee, Sustainable development reports circumstances. compared with around HK$1,700 in 2021. of our operating companies This does not include informal and on-the- job learning, where much of our employee Swire programmes training happens. Engaging with sta昀昀 We believe in open and timely Operating companies have their own communication with our employees on apprenticeship, traineeship and internship matters a昀昀ecting them. We communicate programmes. with our people through our intranet, Please see the sustainable development social media, newsletters, surveys, reports of our operating companies for informal gatherings and sta昀昀 forums. By more information. doing so, we tell people what is happening in the Group. We do our best to build constructive and productive relations with employee representatives. In 2022, John Swire & Sons (H.K.) Ltd., Swire Properties, Swire Coca-Cola, HAECO group, Swire Resources, Taikoo Motors, Qinyuan Bakery and Taikoo Sugar conducted dedicated employee engagement surveys. Engagement levels were mostly above 75%. In 2022, Swire Paci昀椀c organised a total of 8 Leadership Forums and Town Halls connecting our employees with internal and external leaders. The Swire Hong Kong Sta昀昀 Association organises and sponsors sports and recreational SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 82

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Governance Supply chain Talent management CCuuststoomemerrss Biodiversity OTHER ESG DISCLOSURES Customers We are committed to providing high Employees are required to follow internal increasingly important. Swire Coca-Cola quality products and services and to giving guidelines covering the collection, aims to address this by: customers clear and complete information processing, transfer, retention, and • Gradually reducing the amount of sugar so that they can make informed choices. disposal of customers’ personal data. in its beverages portfolio, with a target We advertise responsibly. We protect Data protection obligations are included to reduce the average sugar content in personal data in line with applicable in contracts with third-party data regulations. Feedback helps us processors. 100mL of beverages by 20% by 2025 understand customer needs and improve • O昀昀ering smaller serving sizes to make our services. During 2022, there were no convictions for controlling sugar intake easier, with non-compliance with laws and regulations packages containing 250mL or less relating to customer privacy that would available in all its markets Our approach have a signi昀椀cant impact on the Group. • Introducing diet, light, and zero- At the Group level we build customer The approach of our major businesses calorie drinks, reformulating recipes protection into our policies. Our Health to material customer issues is and 昀椀nding alternatives to sugar and Safety Policy sets out our goal of zero described below. which reduce sugar content without harm to customers, with each company compromising taste under our management control applying Swire Coca-Cola • With TCCC, exploring ways to make this policy in a way which is relevant to its beverages more nutritious by adding business. Consumers are increasingly conscious vitamins, minerals, electrolytes or of health and nutrition when deciding dietary 昀椀bre The Swire Paci昀椀c Personal Data Policy what to eat and drink. Eating less sugar is requires Group companies to comply with applicable legal requirements relating to the handling of personal data (including its collection, holding, processing, Other material issues Our approach disclosure, and use) and to respect the Responsible marketing In line with TCCC’s Responsible Marketing Policy, Swire privacy of others and the con昀椀dentiality Coca-Cola will not advertise our products in media of information received in the course of (television, print, websites, social media, movies or SMS/ business. email marketing) targeting children under the age of 13. We Where relevant, our subsidiaries have do not advertise our products in primary schools. dedicated governance to oversee Food safety Swire Coca-Cola regularly audits hygiene and delivery implementation and e昀케cacy of data procedures to ensure compliance with its food safety protection policies. Our Group Personal standards. All Swire Coca-Cola plants have FSSC22000 Food Data Policy and Guidelines require our Safety Certi昀椀cation. operating companies to appoint a Data Clear labelling Swire Coca-Cola includes caloric information on the front of Protection O昀케cer, carry out Privacy Impact Assessments, establish a Data its packaging. Nutritional information provided is factual and Privacy Policy and only collect personal easy-to-understand, and fully compliant with regulations. data upon consent of the customer. Our operating companies have cyber incident response plans. Further information is available in the Risk management section of this report and the Swire Paci昀椀c Annual Report 2022. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 83

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Governance Supply chain Talent management CCuuststoomemerrss Biodiversity For more information, please see Swire Swire Properties For more information, please see Swire Coca-Cola’s Sustainable Development Swire Properties deals with three Properties’ Sustainable Development Report 2022. Report 2022. categories of customer: individual customers (retail customers and hotel Further reading guests); tenants of its commercial Explore more buildings; and those who own or occupy Swire Coca-Cola Sustainable the residential properties which it owns ESG risk management Development Report 2022 or manages, or who occupy its serviced apartments. It regularly collects feedback TCCC’s Responsible Marketing Policy from customers. It does this through: Further reading • Sentiment research, shopper research, Swire Paci昀椀c Health and and mystery shopper programmes at Swire Paci昀椀c Annual Report 2022 Safety Policy its major retail properties in Hong Kong and the Chinese Mainland Swire Properties Sustainable Swire Paci昀椀c Personal Data Policy Development Report 2022 • Virtual comment boxes to facilitate timely action on issues such as heating, air-conditioning and turnstile malfunctions • Guest satisfaction surveys at EAST Hong Kong and a custom-made mobile application to gather guest feedback • Customer mapping focused on de昀椀ning how di昀昀erent customers use di昀昀erent spaces across our portfolio and identifying channels to gather continuous feedback from tenants Other material issues Our approach Responsible marketing Marketing and communications materials comply with relevant government regulations and industry guidelines. Occupant wellbeing Buildings and workspaces are designed and operated in ways designed to promote the health and wellbeing of occupants. Promoting Help commercial tenants be more sustainable through a sustainability Green Performance Pledge, new 昀椀t-out and renovation guidelines for o昀케ce and retail tenants, initiatives to engage them on environmental and social topics, and ensuring management o昀케ce colleagues are well-informed of sustainability topics. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 84

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Governance Supply chain Talent management Customers BBiioodidivveerrsisittyy OTHER ESG DISCLOSURES Biodiversity Biodiversity loss is among the top global catering services provided or managed by risks. It is viewed as one of the fastest Our approach the company. deteriorating risks over the next decade. Our Sustainable Food Policy guides how Global wildlife populations are declining Our commitments are in the Group’s at pace, and without intervention, this is Biodiversity Policy. We expect our the Group sources, produces, sells, o昀昀ers, projected to continue. businesses to identify biodiversity issues and consumes food products to support relevant to their facilities, operations, the sustainable use of natural resources, To address the ongoing loss of terrestrial and value chains, and to minimise to avoid contributing to climate change, and marine biodiversity, 188 governments adverse impacts. and to protect biodiversity. Under the have agreed a new set of international policy, unsustainable food items (such as We are developing an impact and goals for biodiversity. A key goal, ‘30 shark 昀椀n, blue昀椀n tuna, and black moss) dependency tool for use with our by 30’, aims to achieve the e昀昀ective should not be served at our own events, in conservation and management of at least operating companies to capture our our canteens, or to customers. The policy 30% of the world’s lands, inland waters, ecological relationships and inform is in line with the WWF Seafood Guide and coastal areas, and oceans by 2030. decision making. As a 昀椀rst step in the Convention on the International Trade populating the tool, we conducted a high- in Endangered Species of Wildlife Fauna The ecosystem services that biodiversity level industry risk assessment using third- provides, including crop pollination, and Flora (CITES). The policy encourages party software. Going forward, we will be procurement of sustainable food items water puri昀椀cation, carbon sequestration, conducting a site-level assessment using certi昀椀ed by reputable bodies (the Marine and 昀氀ood protection, are estimated to the Integrated Biodiversity Assessment Stewardship Council and the Aquaculture be worth up to USD140 trillion per year. Companies will be expected to monitor, Tool (IBAT) and incorporating biodiversity Stewardship Council) and of seafood into our scenario analysis. recommended by WWF Seafood Guide. assess, and disclose the impact on biodiversity of their operations, supply The executive management of each To support our businesses as they pursue chains, and portfolios. company in which Swire Paci昀椀c has a net zero emissions, we are developing controlling interest will pay due regard Biodiversity is an important consideration carbon o昀昀set guidelines that prioritise the to sustainability considerations in food for the Group. Aspects of ecosystem purchase of veri昀椀ed high-quality carbon items that are produced, prepared, and protection are covered by our Group o昀昀sets that o昀昀er co-bene昀椀ts such as purchased by the company, and consumed protecting or enhancing biodiversity in priorities – nature-based solutions at company functions, or served by addition to neutralising emissions. to sequester carbon (see Climate), watershed protection and replenishment (see Water), sustainable procurement (see Supply Chain), and support for marine conservation (see Communities). Where biodiversity is a material issue, our businesses have developed approaches relevant for what they do and where they are. Further reading Biodiversity Policy Sustainable Food Policy SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 85

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview Governance Supply chain Talent management Customers BBiioodidivveerrsisittyy Our actions Swire Properties has conducted assessments at all its existing properties and projects under development to determine the status of biodiversity, and its importance to the places that it develops, and to the surrounding natural environment. None of its existing properties contain, or are located adjacent to, areas of globally or nationally important biodiversity. It has guidelines to The Carbon Reduction Alliance Programme has bene昀椀ts for local communities and nature. integrate biodiversity considerations into new developments and targets a minimum Case study 20% site coverage of greenery. Swire Coca-Cola – Collective action on biodiversity and climate It enacted several transformational action in the Wild Elephant Valley, China strategies to reach its 2030 SBTs, including adopting nature-based solutions that Swire Coca-Cola’s Carbon Reduction The project aims to reduce human- capture carbon emissions, bene昀椀t local Alliance Programme in the Wild elephant encounters and incorporate communities and improve biodiversity. Elephant Valley of Yunnan Province sustainability into the local agricultural An urban biodiversity study was carried involves collaborating with value chain industry through reforestation and out in partnership with a professor partners to reduce carbon emissions the introduction of beekeeping. Over at the University of Hong Kong for its and create an eco-friendly community 230 acres of agricultural land has been Taikoo Place redevelopment project. where biodiversity can be sustained. cultivated with eco-friendly planting Results have emphasised the importance It is hoped the project will become a and 300 bee colonies have been of protecting local species and green development role model for low- established. corridors that support the movement carbon communities. of birds and butter昀氀ies between parks. These suggestions will be integrated into future planning and operations across Swire Properties’ Hong Kong Case study portfolio. They will also inform the uses Paraguay Forest Conservation Project of the Biodiversity Guidelines to de昀椀ne the importance of, and the company’s approach to, protecting biodiversity The Chaco-Pantanal and San 4,750-hectare parcel of land in the across its developments. Rafael regions in Paraguay are rich Chaco-Pantanal region from the in biodiversity and o昀昀er critical high risk of being cleared for cattle In 2022, Swire Properties’ Deputy Head livelihoods to local communities. ranching and provides 昀椀nancial of Sustainable Development joined the These biodiverse landscapes and their incentive to individual landowners Taskforce on Nature-related Financial resources are threatened by climate in San Rafael to leave their land as Disclosures (TNFD) as a member, providing change and activities such as intensive untouched high conservation value inputs to the Taskforce to develop the agriculture. forest. As a result, areas identi昀椀ed as framework. It also partnered with the refuges for endangered or vulnerable World Business Council for Sustainable In 2022, Swire Paci昀椀c took ownership species, will be safeguarded. of a REDD+ project previously Development (WBCSD) to pilot the TNFD beta framework. established by Swire Paci昀椀c O昀昀shore. The project aligns with our The Paraguay Forest Conservation objectives to prioritise nature-based Swire Coca-Cola returns a litre of clean Project protects the forests in a environmental solutions. It generates water to natural water systems for every third party veri昀椀ed carbon o昀昀set litre of water used in its beverages. It credits that are dual accredited collaborates with The Coca-Cola Company under the Climate, Community, and on community and watershed protection Biodiversity Standard (CCB). Read projects to replenish water in the Chinese more in the Climate section. Mainland and the US. It has been investing in optimising the water use e昀케ciency of its facilities, all of which meet the water quality requirements of TCCC and the World Health Organisation. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 86

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Performance data We support transparency and provide The table below presents a quantitative information and data in this report and overview of our 2022 sustainable Further reading on our website. Information about how development performance. The data in we set our reporting boundaries and our Reporting Methodology these tables identi昀椀ed with the symbol data calculation methodology is in our [R] has been independently reported on Independent Assurance Report reporting methodology. by Deloitte. Property Beverages Aviation Cathay Paci昀椀c Group Statistics Note Swire Properties Swire Coca-Cola (Note 5, 7) 2022 2021 2022 2021 2022 2021 ENVIRONMENTAL Energy Total Energy Direct energy consumption 177 190 1,244 1,340 - - Consumption Indirect energy consumption 1,071 1,058 2,036 2,159 (3) - - (thousand GJ) Total 1 1,248 1,247 3,281 3,500 - - % Change year-on-year 0.07% -6% - On-site Renewable Energy Generation (thousands kWh) 379 300 20,493 18,913 - - Emissions Greenhouse Gas Scope 1 10 11 80 87 - - Emissions from Scope 2, market-based method 156 166 229 256 - - Direct Operations Total (market-based method) 166 177 308 343 - - (thousand tonnes -6% -10% - CO e) % Change year-on-year 2 Scope 2, location-based method 186 187 278 301 (3) - - Total (location-based method) 1 196 199 358 388 - - % Change year-on-year -1% -8% - Greenhouse Gas Scope 3 4 425 3,658 2,426 (8) 2,727 Emissions Across R Swire Paci昀椀c’s % Change year-on-year -11% Value Chain (thousand tonnes CO e) 2 Total Biogenic Emissions (tonnes CO e) 33 125 0.6 0.7 - - 2 Water Total Water Water Withdrawal - Municipal 1,639 1,778 (2) 14,408 15,425 - - Withdrawal by Water Withdrawal - Groundwater - - 178 194 - - Sources (thousands 1,12 1,639 1,778 14,586 15,619 - - cbm) Total % Change year-on-year -8% -7% - Total Water Low (<20%) 13 900 1,042 8,966 9,331 - - Withdrawal by - 72 2,783 2,931 - - Medium (20-40%) Water Stress Levels High (>40%) 739 664 2,837 3,357 - - (thousands cbm) Total Water Consumption (thousands cbm) 14 - - 8,312 8,620 - - SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 87

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Aviation Trading & Industrial Marine Services Swire Resources, Taikoo Motors, Swire Swire Paci昀椀c HAECO group Foods and Swire O昀昀shore HUD group Swire Paci昀椀c Total (Note 6) Environmental Services (Note 10) (Note 11) (Head o昀케ce) (Note 1) 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 210 202 75 74 114 317 237 - - 1,820 2,360 334 337 135 150 1 2 11 - - 3,577 3,718 544 539 210 224 115 319 248 - - 5,397 R 6,078 1% -6% -64% - -11% 1,132 1,303 - - - - - - - 22,003 20,516 15 18 6 5 9 30 20 - - 120 171 44 44 21 24 0.1 0.2 1 - - 449 490 59 62 27 29 9.4 30 21 - - 569 662 -5% -6% -69% - -14% 44 44 21 24 0.1 0.2 1.2 - - 529 557 59 62 27 29 9 30 21 - - 649 R 728 -5% -6% -69% - -11% 12 R 860 (9) - - - - - 7,381 2,727 - - 171% 123 - - - - - - - - 157 126 385 398 300 311 - - 39 - - 16,732 17,950 - - - - - - - - - 178 194 385 398 300 311 - - 39 - - 16,910 R 18,145 -3% -3% - - -7% 364 379 299 310 - - 39 - - 10,529 11,101 1 1 - - - - - - - 2,784 3,004 21 18 1 1 - - - - - 3,598 4,040 - - - - - - - - - 8,312 8,620 SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 88

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Property Beverages Aviation Cathay Paci昀椀c Group Statistics Note Swire Properties Swire Coca-Cola (Note 5, 7) 2022 2021 2022 2021 2022 2021 ENVIRONMENTAL Waste Total Waste by Hazardous Waste Type and Disposal Disposed 1 0 121 228 - - Method 9 11 106 5,243 - - Recycled (tonnes) 1 10 11 227 5,471 - - Total Hazardous Waste Generated Non-hazardous Waste 22,390 32,167 2,413 3,613 - - Disposed 11,269 12,311 18,233 21,272 - - Recycled 18 62 0 0 - - Reused 644 613 4,751 4,718 - - Recovered 1 34,321 45,153 25,397 29,603 - - Total Non-hazardous Waste Generated Total Non-hazardous Waste Diverted 1 11,931 12,986 22,984 25,990 - - Total Waste Generated 1 34,331 45,164 25,624 35,074 - - % Change year-on-year -24% -27% - - Waste Diversion Rate 35% 29% 90% 88% - - HEALTH & SAFETY Thousand hours worked 13,281 12,980 77,646 74,405 - - Total lost time injuries 58 62 151 200 - - Lost time injury rate (LTIR) 0.87 0.96 0.39 0.54 - - % Change year-on-year (LTIR) -9% -28% - - Lost days due to injuries 2,087 2,327 6,274 8,365 - - Lost day rate (LDR) 31.43 35.86 16.16 22.49 - - % Change year-on-year (LDR) -12% -28% - - Total fatalities (employee) 0 0 0 0 - - Total fatalities (contractor) 0 1 1 1 - - PEOPLE Sta昀昀 (Including all employment types) Total 6,407 6,202 34,380 32,382 - - Employees who are on Permanent Terms (%) 93% 92% 99% 99% - - Permanent employees who work Full-time (%) 98% 99% 100% 100% - - By gender (%) Male 60% 59% 71% 72% - - Female 40% 41% 29% 28% - - By age group (%) Under 30 years old 21% 23% 18% 19% - - 30 to 50 years old 57% 57% 70% 70% - - Over 50 years old 21% 21% 12% 11% - - By region (%) Hong Kong & Macau 48% 50% 4% 4% - - 47% 45% 71% 71% - - Chinese mainland 0% 0% 3% 3% - - Taiwan USA 5% 5% 22% 22% - - Others 0% 0% 0% 0% - - SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 89

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Aviation Trading & Industrial Marine Services Swire Resources, Taikoo Motors, Swire Swire Paci昀椀c HAECO group Foods and Swire O昀昀shore HUD group Swire Paci昀椀c Total (Note 6) Environmental Services (Note 10) (Note 11) (Head o昀케ce) (Note 1) 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 1,553 1,105 349 202 25 1,125 0 - - 2,049 2,659 171 106 77 46 0 0 1 - - 364 5,407 1,724 1,211 426 248 25 1,125 1 - - 2,413 8,066 1,369 3,156 33 30 0 0 0 - - 26,206 38,966 1,205 1,135 858 600 0.02 0.6 117 - - 31,565 35,436 0 0 7 284 0 0 0 - - 25 346 1,042 1,082 0 0 0 0 0 - - 6,437 6,413 3,617 5,373 899 914 0.02 0.6 117 - - 64,233 81,161 2,247 2,217 865 884 0.02 0.6 117 - - 38,027 42,195 5,340 6,584 1,325 1,162 25 1,125 118 - - 66,645 89,227 -19% 14% -98% - -25% 62% 41% 96% 97% 100% 100% 100% - - 59% 52% 27,217 27,837 12,373 13,717 2,334 7,649 1,113 92 84 132,943 137,785 46 117 20 40 3 6 1 0 0 278 426 0.34 0.84 0.32 0.58 0.26 0.16 0.18 0 0 0.42 R 0.62 -60% -45% 63% - - -32% 3,111 8,623 1,058 1,913 35 301 156 0 0 12,565 21,684 22.86 61.95 17.10 28 3 7.87 28.04 0 0 18.90 31.48 -63% -39% -62% - - -40% 0 0 0 0 0 0 0 0 0 0 R 0 0 0 0 0 0 0 0 0 0 1 R 2 11,884 12,235 6,063 6,799 1,242 - 50 48 58,784 58,908 97% 97% 81% 77% 45% - 98% 100% 96% 94% 99% 99% 88% 87% 99% - 100% 100% 98% 98% 81% 81% 42% 39% 88% - 42% 38% 69% 69% 19% 19% 58% 61% 12% - 58% 63% 31% 31% 17% 18% 28% 33% 8% - 8% 8% 19% 21% 60% 60% 60% 57% 73% - 70% 71% 66% 65% 23% 21% 12% 10% 19% - 22% 21% 15% 14% 39% 40% 35% 34% 0% - 100% 98% 19% 20% 45% 43% 41% 46% 0% - 0% 2% 60% 58% 0% 0% 24% 20% 1% - 0% 0% 4% 4% 16% 16% 0% 0% 0% - 0% 0% 17% 16% 1% 0% 0% 0% 99% - 0% 0% 0% 2% SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 90

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Property Beverages Aviation Cathay Paci昀椀c Group Statistics Note Swire Properties Swire Coca-Cola (Note 5, 7) 2022 2021 2022 2021 2022 2021 PEOPLE By employee Strategic Leader 1% 1% 0.2% 0.2% - - category (%) 2% 9% 6% 6% - - Operational Leader Team Leader 27% 17% 14% 15% - - Individual Contributor 71% 72% 79% 79% - - Sta昀昀 (Include permanent employees only) 15 By employee Strategic Leader category and age under 30 years old 0% 0% 0% 0% - - group (%) 30 to 50 years old 59% 54% 54% 53% - - Over 50 years old 41% 46% 46% 47% - - Operational Leader under 30 years old 1% 2% 1% 1% - - 30 to 50 years old 69% 81% 83% 85% - - Over 50 years old 30% 17% 16% 14% - - Team Leader under 30 years old 14% 22% 9% 12% - - 30 to 50 years old 78% 73% 78% 77% - - Over 50 years old 8% 5% 12% 11% - - Individual Contributor under 30 years old 24% 25% 21% 22% - - 30 to 50 years old 54% 54% 68% 68% - - Over 50 years old 22% 21% 11% 10% - - By employee Strategic Leader category and Male 64% 54% 81% 82% - - gender (%) Female 36% 46% 19% 18% - - Operational Leader Male 45% 49% 70% 70% - - Female 55% 51% 30% 30% - - Team Leader Male 48% 46% 70% 70% - - Female 52% 54% 30% 30% - - Individual Contributor Male 64% 64% 72% 72% - - Female 36% 36% 28% 28% - - Voluntary Permanent Employee Turnover Data 15 By age group (%) Under 30 years old 39% 45% 49% 47% - 15% 18% 18% 16% - 30 to 50 years old Over 50 years old 7% 12% 11% 10% - By gender (%) Male 16% 21% 24% 22% - Female 23% 26% 20% 18% - SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 91

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Aviation Trading & Industrial Marine Services Swire Resources, Taikoo Motors, Swire Swire Paci昀椀c HAECO group Foods and Swire O昀昀shore HUD group Swire Paci昀椀c Total (Note 6) Environmental Services (Note 10) (Note 11) (Head o昀케ce) (Note 1) 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 0% 1% 0.3% 0.2% 1.0% - 24% 25% 0.4% 0.4% 3% 2% 1% 1% 2% - 12% 8% 4% 5% 27% 27% 7% 7% 52% - 48% 56% 18% 18% 69% 70% 92% 92% 44% - 16% 10% 78% 77% 0% 0% 0% 0% 0% - 0% 0% 0% 0% 35% 34% 20% 17% 58% - 58% 58% 48% 46% 65% 66% 80% 83% 42% - 42% 42% 52% 54% 1% 2% 0% 0% 0% - 0% 0% 1% 2% 67% 63% 45% 45% 62% - 83% 100% 79% 81% 32% 36% 55% 55% 38% - 17% 0% 19% 17% 5% 5% 3% 5% 3% - 8% 11% 9% 10% 77% 79% 75% 77% 72% - 79% 78% 78% 77% 18% 16% 22% 18% 25% - 13% 11% 14% 13% 22% 25% 29% 32% 18% - 29% 20% 22% 24% 55% 54% 61% 58% 67% - 57% 40% 63% 63% 23% 21% 11% 9% 15% - 14% 40% 14% 13% 84% 87% 67% 75% 83% - 67% 67% 76% 76% 16% 13% 33% 25% 17% - 33% 33% 24% 24% 76% 76% 52% 45% 62% - 17% 0% 69% 66% 24% 24% 48% 55% 38% - 83% 100% 31% 34% 77% 77% 53% 52% 94% - 42% 33% 68% 70% 23% 23% 47% 48% 6% - 58% 67% 32% 30% 82% 82% 41% 40% 30% - 29% 20% 69% 69% 18% 18% 59% 60% 70% - 71% 80% 31% 31% 28% 21% 90% 93% 18% - 50% 0% 50% 47% 9% 7% 16% 16% 11% - 15% 7% 16% 14% 8% 7% 13% 12% 6% - 0% 9% 10% 9% 12% 10% 39% 40% 10% - 10% 0% 21% 19% 11% 9% 35% 36% 13% - 19% 11% 22% 21% SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 92

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Property Beverages Aviation Cathay Paci昀椀c Group Statistics Note Swire Properties Swire Coca-Cola (Note 5, 7) 2022 2021 2022 2021 2022 2021 PEOPLE By region (%) Hong Kong & Macau 21% 23% 42% 21% - Chinese mainland 16% 21% 16% 14% - Taiwan 0% 0% 0% 16% - 29% 42% 45% 43% - USA Others 0% 0% 0% 0% - By employee Strategic Leader 10% 2% category (%) Operational Leader 2% 4% Team Leader 18% 10% Individual Contributor 21% 27% Total Voluntary Turnover Rate of Permanent Employees (%) 19% 23% 23% 21% - Employee New Hire Data 15 By age group (%) Under 30 years old 57% 60% 71% 65% - 19% 19% 21% 18% - 30 to 50 years old Over 50 years old 9% 11% 13% 7% - By gender (%) Male 22% 24% 30% 26% - Female 31% 30% 27% 27% - By region (%) Hong Kong & Macau 24% 23% 45% 36% - Chinese mainland 23% 25% 19% 19% - Taiwan 0% 0% 13% 10% - USA 56% 61% 61% 48% - Others 0% 0% 0% 0% - By employee Strategic Leader 11% 0% category (%) Operational Leader 10% 4% Team Leader 21% 6% Individual Contributor 27% 35% Total New Hires Rate (%) 25% 26% 29% 26% - Average Tenure of Employee 15 By age group (year) Under 30 years old 2.1 1.9 2.2 2.0 - 6.0 6.0 7.9 7.5 - 30 to 50 years old Over 50 years old 10.2 10.7 16.3 13.8 - By gender (year) Male 6.4 6.4 8.4 7.5 - Female 5.3 5.3 6.5 6.2 - Total Average Tenure of Employee (years) 5.9 5.9 7.9 7.1 - Employee Promotion Rate 15 By age group (%) Under 30 years old 14% 19% 14% 10% - 8% 8% 7% 6% - 30 to 50 years old Over 50 years old 2% 3% 5% 3% - By gender (%) Male 8% 9% 9% 7% - Female 9% 11% 7% 6% - Total Employee Promotion Rate (%) 9% 10% 8% 6% - SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 93

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Aviation Trading & Industrial Marine Services Swire Resources, Taikoo Motors, Swire Swire Paci昀椀c HAECO group Foods and Swire O昀昀shore HUD group Swire Paci昀椀c Total (Note 6) Environmental Services (Note 10) (Note 11) (Head o昀케ce) (Note 1) 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 13% 10% 74% 75% 0% - 15% 7% 31% 26% 5% 5% 15% 19% 0% - 0% 0% 14% 13% 0% 0% 16% 13% 0% - 0% 0% 13% 11% 27% 20% 0% 0% 0% - 0% 0% 41% 38% 31% 5% 0% 0% 10% - 0% 0% 28% 10% 11% 0% 8% 7% 8% 12% 0% 5% 5% 10% 13% 9% 14% 39% 50% 25% 12% 10% 37% 38% 10% - 14% 7% 22% 20% 31% 24% 105% 119% 6% - 75% 0% 67% 64% 5% 4% 22% 18% 3% - 23% 18% 18% 16% 12% 4% 24% 10% 3% - 0% 20% 13% 7% 10% 8% 47% 52% 3% - 19% 17% 26% 23% 13% 9% 42% 44% 4% - 25% 17% 28% 28% 9% 4% 84% 97% 0% - 22% 17% 32% 31% 5% 4% 20% 18% 0% - 0% 0% 17% 17% 0% 0% 23% 21% 0% - 0% 0% 19% 17% 29% 28% 0% 0% 0% - 0% 0% 54% 44% 56% 6% 0% 0% 3% - 0% 0% 53% 3% 11% 7% 8% 6% 10% 12% 17% 6% 4% 11% 17% 8% 14% 47% 71% 32% 11% 8% 44% 47% 3% - 22% 17% 26% 24% 3.4 3.6 1.9 1.9 4.5 - 1.0 3.5 2.3 2.3 12.6 12.3 7.0 6.8 10.1 - 7.6 9.0 8.5 8.3 18.7 18.7 13.3 12.9 14.9 - 18.4 15.6 16.0 14.9 12.9 12.5 7.0 6.5 11.4 - 7.3 8.2 9.2 8.6 10.3 10.7 6.6 6.6 7.5 - 10.7 10.9 7.2 7.1 12.4 12.2 6.5 6.0 10.9 - 9.2 9.9 8.4 7.9 28% 35% 5% 6% 0% - 25% 0% 16% 15% 13% 11% 6% 5% 3% - 9% 3% 8% 7% 5% 3% 2% 2% 2% - 0% 10% 4% 3% 14% 14% 5% 4% 2% - 10% 11% 10% 9% 14% 13% 5% 5% 3% - 7% 0% 8% 7% 14% 14% 5% 5% 2% - 8% 4% 9% 8% SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 94

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Property Beverages Aviation Cathay Paci昀椀c Group Statistics Note Swire Properties Swire Coca-Cola (Note 5, 7) 2022 2021 2022 2021 2022 2021 PEOPLE Employees Trained 15 By employee Strategic Leader 86% 91% 105% 59% - category (%) Operational Leader 96% 96% 81% 94% - Team Leader 97% 96% 98% 97% Individual Contributor 97% 99% 100% 101% - By gender (%) Male 97% 97% 102% 100% - Female 97% 98% 91% 99% - Total Employees Trained (%) 97% 98% 99% 100% - Average Employee Training Hours 15 By employee Strategic Leader 17.5 20.0 413.6 20.8 - category (hours) Operational Leader 30.3 25.1 60.8 60.5 - Team Leader 23.4 30.5 43.6 37.0 - Individual Contributor 24.6 26.7 30.5 26.8 - By gender (hours) Male 23.1 25.4 34.7 30.0 - Female 26.1 29.7 36.2 31.1 - Total Average Hours of Training (per employee) 24.3 27.2 35.1 30.3 - Average Employee Training Spend (HKD) 15 By employee Strategic Leader $ 6,865 $10,152 $ 23,898 $2,957 - category Operational Leader $ 11,176 $6,264 $ 4,400 $2,208 - Team Leader $ 1,958 $1,643 $ 1,537 $1,909 Individual Contributor $ 626 $553 $ 657 $1,779 - By gender Male $ 1,014 $963 $ 1,075 $1,829 - Female $ 1,538 $2,043 $ 1,040 $1,821 - Total Average Spend on Training (per employee) $ 1,228 $1,402 $ 1,065 $1,827 - Absentee 15 By gender (%) Male 2% 1% 1% 1% - Female 2% 1% 1% 1% - Total Absentee Rate (%) 2% 1% 1% 1% - Salary Data 15, 16 Basic Salary Gender pay gap by Strategic Leader 4% -5% -36% -6% - employee category Operational Leader -11% -14% 2% 14% - (Basic Salary) Team Leader -14% -11% -6% -18% Individual Contributor -3% 0% -34% -36% - Remuneration Gender pay gap by Strategic Leader -4% -15% -36% -6% - employee category Operational Leader -10% -13% -8% -3% - (Remuneration) Team Leader -14% -9% -14% -22% Individual Contributor -11% -9% -8% -28% - SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 95

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Aviation Trading & Industrial Marine Services Swire Resources, Taikoo Motors, Swire Swire Paci昀椀c HAECO group Foods and Swire O昀昀shore HUD group Swire Paci昀椀c Total (Note 6) Environmental Services (Note 10) (Note 11) (Head o昀케ce) (Note 1) 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 119% 59% 60% 58% 100% - 17% 8% 97% 66% 102% 83% 88% 71% 100% - 50% 25% 85% 93% 104% 96% 97% 95% 93% - 4% 15% 100% 96% 107% 93% 73% 89% 98% - 14% 0% 98% 98% 107% 95% 66% 86% 93% - 14% 17% 101% 98% 105% 87% 81% 91% 100% - 14% 10% 92% 96% 106% 94% 75% 89% 95% - 14% 13% 98% 97% 20.9 7.0 0.8 3.6 1.5 - 2.7 6.0 172.2 14.0 36.0 15.9 10.2 10.0 1.5 - 15.2 2.0 54.8 48.3 76.2 74.1 17.0 16.1 19.7 - 0.8 3.3 49.1 46.6 64.6 56.1 13.3 17.9 1.5 - 2.3 0.0 34.1 31.2 74.6 45.4 7.8 8.0 17.9 - 2.4 6.5 41.5 31.9 33.3 120.0 17.6 24.4 1.6 - 3.8 1.7 31.0 41.2 66.5 60.0 13.5 17.7 14.2 - 3.2 3.5 38.2 34.7 $ 3,706 $3,937 154.6 $33 $- - $ 15,258 $12,733 $12,712 $5,112 $ 979 $1,626 393.55 $177 $- - $ 52,583 $1,136 $4,195 $2,918 $ 945 $1,014 662.78 $483 $3,559 - $ 671 $10,570 $1,385 $1,607 $ 2,766 $3,001 59.66 $106 $- - $ 1,800 $- $965 $1,685 $ 2,521 $2,774 164.44 $197 $3,198 - $ 8,310 $18,028 $1,360 $1,907 $ 957 $1,083 70.07 $95 $35 - $ 12,600 $3,941 $940 $1,394 $ 2,214 $2,444 109.5 $137 $2,485 - $ 10,761 $9,224 $1,230 $1,748 2% 2% 1% 1% 0% - 0.9% 0.3% 1% 1% 2% 34% 1% 0% 1% - 0% 0% 1% 7% 2% 8% 1% 0% 1% - 0.6% 0.4% 1% 3% -5% -31% -9% 38% 47% - -21% -15% -9% -1% -22% -19% -3% -7% -13% - 38% - 8% 21% -28% -28% -3% -32% -29% - -23% 0% 1% -19% -19% -17% -37% -53% 18% - -35% 41% -34% -6% -27% -44% -7% 29% 37% - -33% -40% -14% -16% -21% -19% 4% -5% -16% - 69% - 1% 8% -32% -31% -13% -35% -39% - -16% -10% -8% -25% -24% -23% -44% -54% 13% - -37% 41% -23% -12% SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 96

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices PPererffoorrmmananccee da datata External initiatives, charters and memberships GRI and HKEX content index Glossary Notes: 1. Totals may not be the exact sum of numbers shown here due to rounding. 2. The number included in the 2021 report (which was estimated) has been revised to actual. 3. Data has been restated following an improvement made to the measures for data collection from Swire Coca Cola so as to include all renewable electricity for 2021. 4. Swire Paci昀椀c currently reports the major portion of its Scope 3 GHG emissions, which includes Scope 3 emissions for Swire Properties, Swire Coca-Cola and Taikoo Motors, and a proportion of the Cathay Paci昀椀c Group and Hong Kong Aero Engine Services Limited total Scope 1 & 2 GHG emissions. The reported 昀椀gures accounts for more than 90% of Swire Paci昀椀c total Scope 3 GHG emissions. 5. We account for 45% of Cathay Paci昀椀c Group’s total GHG emissions under the Group’s scope 3 emissions, which is the same as our percentage ordinary shareholding interest in Cathay Paci昀椀c. 6. We account for 50% of Hong Kong Aero Engine Services Limited (HAESL)’s total GHG emissions under the Group’s scope 3 emissions as HAESL is a joint venture company between Rolls-Royce and HAECO group. 7. It is assumed that all GHG gases (except CO2) are negligible. 8. Data refers to the gross emissions. 9. Scope 3 emissions for Trading & Industrial has only included Scope 3 emissions from Taikoo Motors as it accounts for a major portion of the Group’s Scope 3 GHG emissions. 10. For 2022, the environmental and H&S data for Swire Paci昀椀c O昀昀shore companies covers the period from January to 22 April 2022 as it was divested since 22 April 2022. 11. For 2021, the environmental and H&S data for Hongkong United Dockyards HUD Group covers the period from January to September as it was divested since October 2021. 12. Total water withdrawal refers to the sum of water drawn from municipal water and groundwater. Virtually all water withdrawal by the Swire Paci昀椀c Group is from municipal water supplies provided by local water supply authorities. 13. We used the World Resource Institute (WRI) Aqueduct Water Risk Atlas tool to map our water withdrawal by water stress levels. 14. According to GRI 303-5, water consumption is de昀椀ned as volume of water that is drawn into the boundaries of the organisation and not discharged back to the water environment or a third-party. Swire Coca-Cola is our largest consumer of water (>99%). It has provided its total water consumption. 15. Sta昀昀 data only relates to permanent sta昀昀 (permanent full time sta昀昀, permanent part time sta昀昀 and 昀椀xed contract employees in the Chinese mainland). 16. In 2022, we updated our gender pay gap calculation method to produce a weighted average. The calculation is ((total pay for females / total number of females) – (total pay for males / total number of males)) / (total pay for males / total number of males). 17. References in this document to Hong Kong are to Hong Kong SAR, to Macau are to Macao SAR and to Taiwan are to the Taiwan region. R. Denotes sustainability data that has been reported on by Deloitte. Please refer to the independent limited assurance report for further details. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 97

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data EExxtteerrnanall i innititiatiatiivveess,, cha charrtteerrss a andnd m meemmbeberrshshiippss GRI and HKEX content index Glossary External initiatives, charters and memberships External Initiatives and ESG Related Charters 2022 Operating company External initiative/charter Sponsoring organisation(s) HAECO Americas Youth Access to American Jobs in Aviation Federal Aviation Administration, United States Task Force Department of Transportation HAECO Hong Kong Hong Kong International Airport 2050 Net Airport Authority Hong Kong Zero Carbon Pledge Swire Properties 4Ts Charter Environment Bureau and Electrical and Mechanical Services Department, Hong Kong SAR Government Swire Properties Advancing Net Zero Hong Kong Green Building Council Swire Properties Building Energy Pledge Business Environment Council Climate Change Business Forum Advisory Group Swire Properties Business Ambition for 1.5°C Science Based Targets Initiative United Nations Global Compact and We Mean Business Coalition Swire Properties Carbon Reduction Charter Environmental Protection Department, Hong Kong SAR Government Swire Properties Carbon Neutrality Partnership Environment Bureau, Hong Kong SAR Government Swire Properties Charter on External Lighting Environment Bureau, Hong Kong SAR Government Swire Properties Clean Air Charter Hong Kong General Chamber of Commerce and Hong Kong Business Coalition on the Environment Swire Properties Energy Saving Charter Environmental Bureau and Electrical and Mechanical Services Department, Hong Kong SAR Government Swire Properties Food Wise Charter Environment Bureau, Hong Kong SAR Government Swire Properties Green Event Pledge Environmental Protection Department, Hong Kong SAR Government Swire Properties Low Carbon Charter Business Environmental Council Swire Properties Manifesto for Energy E昀케ciency in Buildings World Business Council for Sustainable Development Swire Properties Sustainable Procurement Charter Green Council Swire Coca-Cola Drink Without Waste Single-Use Beverage Package Working Group Swire Coca-Cola Green Event Pledge Environmental Protection Department, Hong Kong SAR Government Swire Coca-Cola New Plastics Economy Global Commitment Ellen MacArthur Foundation Swire Coca-Cola Recycle Colorado / Swire Coca-Cola SOLVE Oregon / Swire Coca-Cola Utah Sustainable Business Coalition / Swire Resources Limited No Fakes Pledge Scheme Intellectual Property Department, Hong Kong SAR Government Swire Waste Management Limited Drink Without Waste Single-Use Beverage Package Working Group Swire Waste Management Limited Green Event Pledge Environmental Protection Department, Hong Kong SAR Government SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 98

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data EExxtteerrnanall i innititiatiatiivveess,, cha charrtteerrss a andnd m meemmbeberrshshiippss GRI and HKEX content index Glossary Membership of trade associations 2022 The top trade associations and industry groups Operating company Name of association Nature of membership HAECO Americas Aeronautical Repair Station Association Member (ARSA) HAECO Hong Kong Business Environment Council Corporate Member HAECO Hong Kong & HAECO International Airline Technical Pool (IATP) Member Xiamen HAECO Xiamen Xiamen Environment Protection Industry Corporate Member Association HAECO Landing Gear Services Member 廈門自貿區商會理事單位 Swire Properties Business Environment Council Board of Directors, Council Member, Executive Committee Member Swire Properties China Green Building Council Corporate Member Swire Properties Green Cross – Occupational Safety & Health Group Member Council Swire Properties Harbourfront Commission Taskforce Member Swire Properties Hong Kong General Chamber of Commerce Full Member General Committee & Chamber Council Member, Real Estate & Infrastructure Committee Swire Properties Hong Kong Green Building Council Platinum Patron Member Swire Properties Taskforce on Climate-related Financial TCFD Supporter Disclosures Swire Properties Taskforce on Nature-related Financial Taskforce Member Disclosures Swire Properties The Hong Kong Management Association Sustainability Committee Member Swire Properties The Real Estate Developers Association of Board of Directors Hong Kong Executive Committee Member Member, Planning Environment and Lands Sub- Committee Swire Properties Urban Land Institute ULI Asia Paci昀椀c Corporate Member Swire Properties U.S. Green Building Council Gold Member Swire Properties World Business Council for Sustainable Member Development Swire Properties World Green Building Council Member of Corporate Advisory Board Swire Properties World Wide Fund For Nature Hong Kong Pearl Member Swire Coca-Cola China Beverage Industry Association Director Swire Coca-Cola Nanjing Association of Enterprises with Co-Chairman Foreign Investment Swire Coca-Cola Shanghai Foreign Investment Association Member Swire Coca-Cola Hong Kong The Hong Kong Beverage Association Chair Swire Coca-Cola Hong Kong Hong Kong General Chamber of Commerce Member Swire Coca-Cola Hong Kong Business Environment Council Member Swire Coca-Cola Hong Kong Hong Kong Food and Beverage Industry Board of Directors Advisory Board SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 99

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data EExxtteerrnanall i innititiatiatiivveess,, cha charrtteerrss a andnd m meemmbeberrshshiippss GRI and HKEX content index Glossary Operating company Name of association Nature of membership Swire Coca-Cola Hong Kong The Single-Use Beverage Packaging Member Working Group Swire Coca-Cola Taiwan Taiwan Beverage Industry Association Corporate Swire Coca-Cola USA American Beverage Association Corporate Swire Coca-Cola USA Arizona Beverage Association Corporate Swire Coca-Cola USA Colorado Beverage Association Corporate Swire Coca-Cola USA Idaho Soft Drink Association Board member Swire Coca-Cola USA New Mexico Beverage Association Corporate Swire Coca-Cola USA Oregon Beverage Association Board member Swire Coca-Cola USA Washington Beverage Association Board member Swire Resources Limited Hong Kong General Chamber of Commerce Corporate member Swire Resources Limited Hong Kong Institute of Human Resource Corporate member Management Swire Resources Limited Hong Kong Retail Management Association Corporate member Swire Waste Management Limited Hong Kong Waste Management Organisation member Association Swire Waste Management Limited Hong Kong General Chamber of Commerce Member Taikoo Motors British Chamber of Commerce in Taipei Member Taikoo Motors European Chamber of Commerce Taiwan Member Taikoo Sugar (China) Ltd. China Sugar Association Member Taikoo Sugar (China) Ltd. Member 廣東省食品安全學會 Taikoo Sugar (China) Ltd. Member 廣州市黃埔區食品安全協會 Taikoo Sugar (China) Ltd. Chengdu Member 成都市食品商會 Branch Taikoo Sugar (China) Ltd. Shanghai Member 上海市食品化妝品質量安全管理協會 Branch Taikoo Sugar (China) Ltd. Shanghai Member 上海市嘉定區食品安全協會 Branch SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 100

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI and HKEX content index This content index can be used to 昀椀nd disclosures relevant to the GRI Standards and the HKEX ESG Reporting Guide. Statement of Use Swire Paci昀椀c Limited has reported the information cited in this GRI content index for the period 1 January - 31 December 2022 with reference to the GRI Standards. GRI 1 version GRI 1: Foundation 2021 GRI Standards General Disclosures GRI 2: General GRI Standards HKEX ESG Description Report section Remarks Disclosures description Guide Ref. 2021 Organisational Details and Reporting Practices 2-1 Organisational details Our business Swire Paci昀椀c Annual Report 2022 – Corporate Statement 2-2 Entities included in – Swire Paci昀椀c Reporting Methodology the organisation’s 2022 sustainability reporting 2-3 Reporting period, About our report frequency and contact point 2-4 Restatements of Appendices - 2021 total energy consumption information Performance data and total GHG emissions (location- based) 昀椀gures are 6% and 7% higher respectively compared to the level of emissions and energy previously reported. This is due to an improvement in data collection for Swire Coca-Cola’s renewable electricity use. 2-5 External assurance About our report Independent Practitioner's Limited Assurance Report Activites and workers 2-6 Activities, value chain Our business – Swire Paci昀椀c Annual Report 2022 – and other business SwireTHRIVE - People Corporate Statement relationships Other ESG disclosures Swire Paci昀椀c Annual Report 2022 – – Supply chain 2022 Performance Review and Outlook KPI B5.1 Number of suppliers by Other ESG disclosures Swire Paci昀椀c does not have a geographical region. – Supply chain centralised Procurement function. Each operating company is responsible for its own procurement, so we do not have group level supplier data. 2-7 Employees KPI B1.1 Total workforce by SwireTHRIVE - People gender, employment Appendices - type, age group and Performance data geographical region. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 101

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI 2: General GRI Standards HKEX ESG Description Report section Remarks Disclosures description Guide Ref. 2021 Governance 2-9 Governance structure Our business – Swire Paci昀椀c Annual Report 2022 – and composition Our approach Corporate Governance Report to sustainable development 2-11 Chair of the highest governance body 2-12 Role of the highest Our business – governance body Our approach in overseeing the to sustainable management of development impacts 2-13 Delegation of Our business – responsibility for Our approach managing impacts to sustainable development 2-14 Role of the highest About our report governance body in sustainability reporting Strategy, policies and practices 2-22 Statement on Introduction - sustainable Chairman’s statement development strategy 2-23 Policy commitments Our business – Swire Paci昀椀c Annual Report 2022 – Risk Our approach Management to sustainable Swire Paci昀椀c Human Rights Policy development Swire Paci昀椀c Supplier Code of Conduct Our business – Risk management Our ESG disclosures – Governance 2-26 Mechanisms for seeking Our ESG disclosures – Swire Paci昀椀c Whistleblowing Policy advice and raising Governance concerns 2-27 Compliance with laws It is not considered that any individual and regulations social or environmental laws or regulations have a signi昀椀cant impact on the Swire Paci昀椀c Group. This was deemed to not be material at group level, by our materiality assessment. 2-28 Membership Appendices associations SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 102

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI 2: General GRI Standards HKEX ESG Description Report section Remarks Disclosures description Guide Ref. 2021 Stakeholder engagement 2-29 Approach to About our report stakeholder – Stakeholder engagement engagement About our report – Assessing materiality 2-30 Collective bargaining In Hong Kong there is no legal agreements framework for collective bargaining arrangements with trade unions. In the Chinese Mainland, our operating companies are normally required to liaise with o昀케cial trade unions. Employees can present grievances and report improprieties and breaches of the Code of Conduct through established channels. At Swire Paci昀椀c O昀昀shore, relevant seagoing employees’ pay negotiations are undertaken collectively with international or national bodies, and administered under collective bargaining agreements and enterprise bargaining agreements in accordance with Maritime Labour Convention 2006. See our operating companies’ sustainability reports for details. Material topics 3-1 Process to determine About our report – Swire Paci昀椀c Reporting Methodology material topics Assessing materiality 2022 3-2 List of material topics About our report – Assessing materiality SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 103

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards and HKEX GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard HKEX Mandatory Disclosure Requirements N/A N/A N/A Governance A statement from the board Our business – Structure containing the following Our approach to sustainable elements: development (i) a disclosure of the board’s oversight of ESG issues; (ii) the board’s ESG management approach and strategy, including the process used to evaluate, prioritise and manage material ESG-related issues (including risks to the issuer’s businesses); and (iii) how the board reviews progress made against ESG- related goals and targets with an explanation of how they relate to the issuer’s businesses. N/A N/A N/A Reporting Materiality About our report Swire Paci昀椀c Reporting Principles – Assessing Methodology 2022 materiality About our report – Stakeholder engagement Quantitative About our report – Overview Consistency Appendices – Performance data N/A N/A N/A Reporting A narrative explaining the About our report – Swire Paci昀椀c Reporting Boundary reporting boundaries of the ESG Overview Methodology 2022 report and describing the process Appendices – used to identify which entities or Performance data operations are included in the ESG report. If there is a change in the scope, the issuer should explain the di昀昀erence and reason for the change. GRI 201: 3-3 Management of General Policies on identi昀椀cation and SwireTHRIVE – Swire Paci昀椀c Annual Economic material topic Disclosure A4 mitigation of signi昀椀cant climate- Climate Report 2022 – Financial Performance related issues which have Our business - TCFD Review 2016 impacted, and those which may impact, the issuer. 201-1 Direct economic KPI B8.2 Resources contributed (e.g. SwireTHRIVE – value generated money or time) to the focus area. Communities and distributed 201-2 Financial KPI A4.1 Description of the signi昀椀cant Our business - TCFD implications and climate-related issues which have other risks and impacted, and those which may opportunities due impact, the issuer, and the actions to climate change taken to manage them. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 104

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard Economic GRI 205: Anti- 3-3 Management of General Information on the policies and Other ESG It is not considered corruption material topic Disclosure B7 compliance with relevant laws and disclosures – that any individual laws 2016 regulations that have a signi昀椀cant Governance or regulations have a impact on the issuer relating signi昀椀cant impact on the to bribery, extortion, fraud and Swire Paci昀椀c Group. money laundering. 205-2 Communication KPI B7.3 Description of anti-corruption Other ESG and training training provided to directors and disclosures – about anti- sta昀昀. Governance corruption policies and procedures 205-3 Con昀椀rmed KPI B7.1 Number of concluded legal cases incidents of regarding corrupt practices corruption and brought against the issuer or its actions taken employees during the reporting period and the outcomes of the cases. KPI B7.2 Description of preventive Swire Paci昀椀c measures and whistle-blowing Whistleblowing Policy procedures, and how they are implemented and monitored. GRI 206: Anti- 3-3 Management of Other ESG It is not considered competitive material topic disclosures – Supply that any individual laws Behaviour 2016 206-1 Legal actions for chain or regulations have a anti-competitive signi昀椀cant impact on the behaviour, Swire Paci昀椀c Group. anti-trust, and monopoly practices Environmental GRI 301: 3-3 Management of General Policies on the e昀케cient use of Other ESG Swire Paci昀椀c Sustainable Materials 2016 material topic Disclosure resources, including energy, water disclosures – Supply Development Policy and A2, A3 and other raw materials. chain related policies. Policies on minimising the It is not considered that any individual laws issuer’s signi昀椀cant impact on the environment and natural or regulations have a resources. signi昀椀cant impact on the Swire Paci昀椀c Group. KPI A2.5 Total packaging material used for This was deemed to not 昀椀nished products (in tonnes) and, be material at group if applicable, with reference to per level, by our materiality unit produced. assessment. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 105

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard Environmental GRI 302: 3-3 Management of General Policies on the e昀케cient use of SwireTHRIVE – Swire Paci昀椀c Sustainable Energy 2016 material topic Disclosure resources, including energy, water Climate Development Policy and A2, A3 and other raw materials. related policies. Policies on minimising the It is not considered that any individual laws issuer’s signi昀椀cant impact on the environment and natural or regulations have a resources. signi昀椀cant impact on the Swire Paci昀椀c Group. 302-1 Energy KPI A2.1 Direct and/or indirect energy Appendices – Swire Paci昀椀c consumption consumption by type (e.g. Performance data Annual Report within the electricity, gas or oil) in total (kWh 2022 – Sustainable SwireTHRIVE – organisation in ’000s) and intensity (e.g. per Climate Development Review unit of production volume, per facility). 302-4 Reduction KPI A2.3 Description of energy use of energy e昀케ciency target(s) set and steps consumption taken to achieve them. GRI 303: Water 3-3 Management of General Policies on the e昀케cient use of SwireTHRIVE – Swire Paci昀椀c Sustainable and E昀툀uents material topic Disclosure resources, including energy, water Water Development Policy and 2018 A2, A3 and other raw materials. related policies Policies on minimising the It is not considered that any individual laws issuer’s signi昀椀cant impact on the environment and natural or regulations have a resources. signi昀椀cant impact on the Swire Paci昀椀c Group. 303-1 Interactions with KPI A2.4 Description of whether there is SwireTHRIVE – water as a shared any issue in sourcing water that is Water resource 昀椀t for purpose, water e昀케ciency target(s) set and steps taken to achieve them. KPI A3.1 Description of the signi昀椀cant impacts of activities on the environment and natural resources and the actions taken to manage them. 303-2 Management of SwireTHRIVE – water discharge- Water related impacts 303-3 Water withdrawal KPI A2.2 Water consumption in total Appendices – Swire Paci昀椀c and intensity (e.g. per unit of Performance data Annual Report production volume, per facility). 2022 – Sustainable SwireTHRIVE – Water Development Review 303-5 Water Appendices – consumption Performance data SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 106

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard Environmental GRI 304: 3-3 Management of General Policies on the e昀케cient use of Other ESG Swire Paci昀椀c Sustainable Biodiversity material topic Disclosure resources, including energy, water disclosures – Development Policy and 2016 A2, A3 and other raw materials. Biodiversity related policies. Policies on minimising the It is not considered that any individual laws issuer’s signi昀椀cant impact on the environment and other raw or regulations have a materials. signi昀椀cant impact on the Swire Paci昀椀c Group. 304-2 Signi昀椀cant KPI A3.1 Description of the signi昀椀cant impacts of impacts of activities on the activities, environment and natural products, and resources and the actions taken to services on manage them. biodiversity GRI 305: 3-3 Management of General Information on the policies and SwireTHRIVE – Swire Paci昀椀c Sustainable Emissions 2016 material topic Disclosure compliance with relevant laws and Climate Development Policy and A1, A3 regulations that have a signi昀椀cant related policies. impact on the issuer relating to It is not considered air and greenhouse gas emissions, that any individual laws discharges into water and land, or regulations have a and generation of hazardous and signi昀椀cant impact on the non-hazardous waste. Swire Paci昀椀c Group. Policies on minimising the issuer’s signi昀椀cant impact on the environment and natural resources. 305-1 Direct (Scope 1) KPI A1.1 The types of emissions and Appendices – Swire Paci昀椀c GHG emissions respective emissions data. Performance data Annual Report 2022 – Sustainable KPI A1.2 Direct (Scope 1) and energy SwireTHRIVE – Climate Development Review 305-2 Energy indirect indirect (Scope 2) greenhouse gas emissions (in tonnes) and, where (Scope 2) GHG emissions appropriate, intensity (e.g. per unit of production volume, per facility). 305-3 Other indirect (Scope 3) GHG emissions 305-5 Reduction of GHG KPI A1.5 Description of emissions target(s) emissions set and steps taken to achieve them. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 107

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard Environmental GRI 306: 3-3 Management of General Information on the policies and SwireTHRIVE – Swire Paci昀椀c Sustainable Waste 2020 material topic Disclosure compliance with relevant laws and Waste Development Policy and A1, A3 regulations that have a signi昀椀cant related policies. impact on the issuer relating to It is not considered air and greenhouse gas emissions, that any individual laws discharges into water and land, or regulations have a and generation of hazardous and signi昀椀cant impact on the non-hazardous waste. Swire Paci昀椀c Group. Policies on minimising the issuer’s signi昀椀cant impact on the environment and natural resources. 306-1 Waste generation and signi昀椀cant waste-related impacts 306-2 Management of KPI A1.6 Description of how hazardous signi昀椀cant waste- and non-hazardous wastes are related impacts handled, and a description of reduction target(s) set and steps taken to achieve them. 306-3 Waste generated KPI A1.3 Total hazardous waste Appendices – produced (in tonnes) and, where Performance data appropriate, intensity (e.g. per SwireTHRIVE – unit of production volume, per Waste facility). KPI A1.4 Total non-hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g. per unit of production volume, per facility). GRI 308: 103-1 Explanation of General Policies on managing Other ESG Swire Paci昀椀c Sustainable Supplier the material topic Disclosure B5 environmental and social risks of disclosures – Supply Procurement Policy Environmental and its boundary the supply chain. chain This was deemed to not Assessment KPI B5.2 Description of practices relating Other ESG be material at group 2016 to engaging suppliers, number of disclosures – level, by our materiality suppliers where the practices are Biodiversity assessment. being implemented, and how they are implemented and monitored. KPI B5.3 Description of practices used to identify environmental and social risks along the supply chain, and how they are implemented and monitored. KPI B5.4 Description of practices used to promote environmentally preferable products and services when selecting suppliers, and how they are implemented and monitored. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 108

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard Social GRI 401: 3-3 Management of General Information on the policies and Other ESG It is not considered Employment material topic Disclosure B1 compliance with relevant laws and disclosures – Talent that any individual laws 2016 regulations that have a signi昀椀cant management or regulations have a impact on the issuer relating to signi昀椀cant impact on the SwireTHRIVE – compensation and dismissal, People Swire Paci昀椀c Group. recruitment and promotion, working hours, rest periods, equal opportunity, diversity, anti- discrimination, and other bene昀椀ts and welfare. 401-1 New employee KPI B1.2 Employee turnover rate by gender, Appendices – hires and age group and geographical Performance data employee region. turnover GRI 403: 3-3 Management of General Information on the policies and SwireTHRIVE – It is not considered Occupational material topic Disclosure B2 compliance with relevant laws and People that any individual laws Health and regulations that have a signi昀椀cant or regulations have a Safety 2018 impact on the issuer relating signi昀椀cant impact on the to providing a safe working Swire Paci昀椀c Group. environment and protecting employees from occupational hazards. 403-9 Work-related KPI B2.1 Number and rate of work-related Appendices – Swire Paci昀椀c only injuries fatalities occurred in each of the Performance data reports on the lost day past three years including the rate, lost time injury SwireTHRIVE – reporting year. People rate and fatalities of our KPI B2.2 Lost days due to work injury. employees. We do not disclose occupational KPI B2.3 Description of occupational health health & safety data by and safety measures adopted, gender and region. how they are implemented and monitored. 3-3 Management of General Policies on improving employees’ Other ESG GRI 404: Training and material topic Disclosure B3 knowledge and skills for disclosures – Talent discharging duties at work. management Education 2016 Description of training activities. 404-1 Average hours of KPI B3.1 The percentage of employees Appendices – training per year trained by gender and employee Performance data per employee category. KPI B3.2 The average training hours Appendices – completed per employee by Performance data gender and employee category. Other ESG disclosures – Talent management SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 109

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard Social GRI 405: 3-3 Management of General Information on the policies and SwireTHRIVE – It is not considered Diversity material topic Disclosure B1 compliance with relevant laws and People that any individual laws and Equal regulations that have a signi昀椀cant or regulations have a Opportunity impact on the issuer relating to signi昀椀cant impact on the 2016 compensation and dismissal, Swire Paci昀椀c Group. recruitment and promotion, working hours, rest periods, equal opportunity, diversity, anti- discrimination, and other bene昀椀ts and welfare. 405-1 Diversity of KPI B1.1 Total workforce by gender, Appendices – We currently do not have governance employment type, age group and Performance data a de昀椀nition of minority bodies and geographical region. status in our workforce. SwireTHRIVE – employees People 405-2 Ratio of basic Appendices – salary and Performance data remuneration of SwireTHRIVE – women to men People GRI 406: Non- 3-3 Management of General Information on the policies and SwireTHRIVE – It is not considered discrimination material topic Disclosure B1 compliance with relevant laws and People that any individual laws 2016 regulations that have a signi昀椀cant or regulations have a impact on the issuer relating to signi昀椀cant impact on the compensation and dismissal, Swire Paci昀椀c Group. recruitment and promotion, working hours, rest periods, equal opportunity, diversity, anti- discrimination, and other bene昀椀ts and welfare. 406-1 Incidents of discrimination and corrective actions taken GRI 408: Child 3-3 Management of General Information on the policies and Other ESG It is not considered Labour 2016 material topic Disclosure B4 compliance with relevant laws and disclosures – Supply that any individual laws regulations that have a signi昀椀cant chain or regulations have a impact on the issuer relating Other ESG signi昀椀cant impact on the to preventing child and forced Swire Paci昀椀c Group. disclosures – labour. Governance This was deemed to not KPI B4.1 Description of measures to review be material at group employment practices to avoid level, by our materiality child and forced labour. assessment. KPI B4.2 Description of steps taken to eliminate such practices when discovered. GRI 409: 3-3 Management of General Information on the policies and Other ESG It is not considered Forced or material topic Disclosure B4 compliance with relevant laws and disclosures – Supply that any individual laws Compulsory regulations that have a signi昀椀cant chain or regulations have a Labour 2016 impact on the issuer relating Other ESG signi昀椀cant impact on the to preventing child and forced Swire Paci昀椀c Group. disclosures – labour. Governance This was deemed to not be material at group level, by our materiality assessment. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 110

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard Social GRI 413: Local 3-3 Management of General Policies on community SwireTHRIVE – Communities material topic Disclosure B8 engagement to understand Communities 2016 the needs of the communities where the issuer operates and to ensure its activities take into consideration the communities' interests. KPI B8.1 Focus areas of contribution (e.g. education, environmental concerns, labour needs, health, culture, sport). KPI B8.2 Resources contributed (e.g. money or time) to the focus area. GRI 414: 3-3 Management of General Policies on managing Other ESG Swire Paci昀椀c Sustainable Supplier Social material topic Disclosure B5 environmental and social risks of disclosures – Supply Procurement Policy Assessment the supply chain. chain Swire Paci昀椀c does not 2016 KPI B5.2 Description of practices relating have a centralised to engaging suppliers, number of Procurement function. suppliers where the practices are Each operating company being implemented, and how they is responsible for its own are implemented and monitored. procurement, so we do KPI B5.3 Description of practices used to not have group level identify environmental and social supplier data. risks along the supply chain, and This was deemed to not how they are implemented and be material at group monitored. level, by our materiality assessment. GRI 415: Public 3-3 Management of Other ESG This was deemed to not Policy 2016 material topic disclosures – be material at group Governance level, by our materiality assessment. GRI 418: 3-3 Management of KPI B6.5 Description of consumer data Our business – Risk Customer material topic protection and privacy policies, management – Privacy 2016 and how they are implemented Cybersecurity and monitored. Other ESG disclosures – Customers 418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 111

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GGRRI aI annd Hd HKKEEX cX coonntteennt it innddeexx Glossary GRI Standards GRI Ref. Description HKEX ESG Description Report Section Remarks Topic Speci昀椀c Guide Ref. Standard Product Responsibility N/A N/A N/A General Information on the policies and Other ESG It is not considered Disclosure B6 compliance with relevant laws and disclosures – that any individual laws regulations that have a signi昀椀cant Customers or regulations have a impact on the issuer relating to signi昀椀cant impact on the health and safety, advertising, Swire Paci昀椀c Group. labelling and privacy matters relating to products and services provided and methods of redress. KPI B6.1 Percentage of total products sold This was deemed to not or shipped subject to recalls for be material at group safety and health reasons. level, by our materiality KPI B6.2 Number of products and service assessment. related complaints received and how they are dealt with. KPI B6.3 Description of practices relating to observing and protecting intellectual property rights. KPI B6.4 Description of quality assurance process and recall procedures. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 112

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GRI and HKEX content index GGlloossssaarryy Glossary References in this document to Hong Carbon O昀昀setting and Reduction Employee category Kong are to Hong Kong SAR, to Macau are Scheme for International Classi昀椀cation of employees into categories to Macao SAR and to Taiwan are to the Aviation or CORSIA based on experience, seniority, and Taiwan region. A scheme adopted by ICAO which aims to responsibility. stabilise emissions from international civil aviation at 2020 levels. See also Individual Contributor, Team Leader, A Operational Leader, Strategic Leader. Available tonne kilometres or ATK Certi昀椀ed sustainable seafood Enterprise Risk Management or ERM Overall capacity, measured in tonnes Seafood that comes from well managed The identi昀椀cation, assessment, monitoring available for the carriage of airline and sustainable 昀椀sheries and is certi昀椀ed by and management of risks that may passengers, excess baggage, cargo and the Marine Stewardship Council or other interfere with an enterprise’s operations certi昀椀cation bodies. mail on a 昀氀ight sector multiplied by the and objectives. sector distance. Circular economy Euro II / Euro III / Euro IIIA / Euro An economic system in which resources B IV / Euro VI are kept in use for as long as possible, European emission standards that Biogenic emissions recovered and reused at the end of their service lives. de昀椀ne the acceptable limits for exhaust CO emissions from the combustion or emissions of vehicles. 2 biodegradation of biomass. Climate-related risk Building Environmental Assessment The potential negative impact of climate F Method or BEAM change on an organisation. Fly Greener A method of assessing building See also Physical risks, Transitional risks. A voluntary carbon o昀昀set programme sustainability performance in Hong Kong. Cold drink equipment or CDE which o昀昀ers Cathay Paci昀椀c passengers Includes vending machines, coolers and the opportunity to o昀昀set their carbon C fountains. footprint from air travel. Carbon Dioxide Equivalent or CO e Cubic metres or cbm Frozen e昀케ciency baseline 2 A measure of the global warming potential A metric unit of volume or capacity A baseline from which performance is of releases of the six greenhouse gases equal to 1,000 litres or 1.0 metric projected, assuming no improvement in current e昀케ciencies. speci昀椀ed by the Kyoto Protocal. These tonne of water. ), methane (CH ), are carbon dioxide (CO 2 4 FSC certi昀椀ed O), hydro昀氀uorocarbons nitrous oxide (N2 D Certi昀椀cation for timber products that (HFCs), per昀氀uorocarbons (PFCs) and indicates it was sourced from responsibly ). Drink Without Waste or #DWW sulphur hexa昀氀uoride (SF 6 managed forests or recycled sources in Carbon neutral A coalition (of beverages producers and accordance with the Forest Stewardship The balancing of every unit of bottlers, waste management enterprises Council Principles and Criteria. anthropogenic CO emitted with an and NGOs) which wants to reduce waste 2 generated from beverage consumption in equivalent amount of CO removed, for 2 Hong Kong. example by carbon sequestration. Carbon o昀昀sets E Reduction, removal, or avoidance of GHG Ellen MacArthur Foundation’s New emissions from a speci昀椀c project that Plastics Economy Group compensates for GHG emissions occurring elsewhere. A group which aims to reduce the environmental footprint of plastics through better packaging and more recycling. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 113

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GRI and HKEX content index GGlloossssaarryy G International Civil Aviation O Gender pay gap Organisation or ICAO Operational Leader A United Nations body which manages Measures the di昀昀erence in pay between the administration and governance of the Middle managers leading other managers women and men. It does not measure Convention on International Civil Aviation. within a function, product line or region the di昀昀erence in pay between men and See also Employee category, Individual women for doing the same job, but across Contributor, Team Leader, Strategic Leader. all jobs within a particular category. In L Swire Paci昀椀c, gender pay gap is calculated Leadership in Energy and P as the percentage di昀昀erences in annual Environmental Design or LEED pay between women and men by A green building rating system devised by Physical risks employee categories. the United States Green Building Council. Physical risks include extreme weather, Global Reporting Initiative or GRI changes in rainfall and temperature and Location-based method increases in sea levels. An international standards organisation A way of calculating scope 2 emissions that helps businesses, governments and See also Climate-related risks, Transitional risks. other organisations to understand and that re昀氀ects the average emissions communicate their impact on critical intensity of the grids on which energy consumption occurs, using mostly local, Polyethylene Terephthalate or PET sustainability issues such as climate subnational or national grid-average A type of plastic commonly used for water change, human rights, governance and emission factors. and other drink bottles and for food social wellbeing. containers. Greenhouse gas or GHG Lost Day Rate or LDR A gas that contributes to the greenhouse The number of lost scheduled working R days per 100 employees per year. It is e昀昀ect by absorbing infrared radiation calculated as the total days lost multiplied Representative Concentration See also scope 1 emissions, scope 2 by 200,000 and then divided by total hours Pathways or RCPs emissions, scope 3 emissions. worked. The factor 200,000 is the annual RCPs are prescribed pathways hours worked by 100 employees, based on for greenhouse gas and aerosol H 40 hours per week for 50 weeks a year. concentrations (not emissions), together High-density polyethylene (HDPE) Lost Time Injury Rate or LTIR with land use change, that are consistent A type of plastic commonly used as The number of injuries per 100 employees with a set of broad climate outcomes packaging for food, beverages, personal per year. It is calculated as the total used by the climate modelling community. care products and household products. injuries multiplied by 200,000 and then Four RCPs are used by the IPCC’s 昀椀fth divided by total hours worked. The factor assessment report (RCP 2.6, 4.5, 6.0 HKEX ESG Reporting Guide 200,000 is the annual hours worked by 100 and 8.5). The Environmental, Social and Governance employees, based on 40 hours per week RCP 2.6 represents hard emissions Reporting Guide in Appendix 27 to for 50 weeks a year. cuts, which are likely to keep warming The Rules Governing the Listing of below 2°C. Securities on The Stock Exchange of Hong M RCP 4.5 and 6.0 are intermediate Kong Limited. Market-based method stabilisation scenarios. I A way of calculating scope 2 emissions RCP 8.5 represents a scenario where little e昀昀ort is made to reduce emissions and Individual Contributor that re昀氀ects the emissions from energy curb warming by 2100. This is usually taken that an organisation has speci昀椀cally Entry level and 昀椀rst-line employees with chosen to purchase. Emissions factors are as the worst-case climate scenario. no direct reports. derived from contractual instruments (i.e. Revenue tonne kilometres or RTK See also Employee category, Team Leader, contracts to purchase energy bundled Tra昀케c volume, measured in load tonnes Operational Leader, Strategic Leader. with attributes for the energy generation, or unbundled attribute claims). from the carriage of passengers, excess Intergovernmental Panel on Climate baggage, cargo and mail on each sector Change or IPCC multiplied by the 昀氀ight sector distance. An intergovernmental body of the United Nations that provides scienti昀椀c information relevant to understanding the scienti昀椀c basis of the risk of human- induced climate change and its natural, political, and economic impacts. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 114

Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Performance data External initiatives, charters and memberships GRI and HKEX content index GGlloossssaarryy S T Water consumption SBTi Task Force on Financial The volume of water that is used in Science Based Targets initiative. Disclosures or TCFD products, in the production of crops, A collaboration between Carbon An organisation which develops voluntary, or has been consumed by humans or livestock, and is therefore not released Disclosure Project, the United Nations consistent climate-related 昀椀nancial risk back to the environment or a third-party. Global Compact, World Resources disclosures for use by organisations. Institute, and World Wildlife Fund which TCCC Water replenishment encourages organisations to set science- Swire Coca-Cola works with TCCC based targets. The Coca-Cola Company Limited. to replenish its water use through Science-based target or SBT Team Leader partnership projects that help conserve, A target to reduce GHG emissions that is First-line supervisors and junior managers clean, store or make accessible an in line with the level of decarbonisation leading teams of Individual Contributors equivalent amount of water for nature required to keep the global temperature See also Employee category, Individual and people. TCCC has a target to replenish 100% of its direct water use. increase below 2 degrees Celsius Contributor, Operational Leader, Strategic compared to pre-industrial temperatures. Leader. Water stress Scope 1 emissions Total injuries According to WRI Aqueduct, baseline Direct GHG emissions from sources The number of injuries in a year which water stress measures the ratio of total that are owned or controlled by an result in lost time of a minimum of one water withdrawals to available renewable organisation. scheduled working day. surface and groundwater supplies. Higher values indicate more competition See also Greenhouse gas or GHG, scope 2 Transitional risks among users. emissions, scope 3 emissions. Risks associated with the transition to a lower carbon economy, which may arise Water use ratio or WUR Scope 2 emissions The number of litres of water used to Indirect GHG emissions from consumption from changes in policy, law, technology and markets and which include risks to produce a litre of product. It is calculated by an organisation of purchased reputation. as total water used divided by total electricity, heat and steam. production volume. See also Greenhouse gas or GHG, scope 2 See also Climate-related risk, Physical risks. emissions, scope 3 emissions. Water withdrawal U The sum of all water drawn from surface Scope 3 emissions water, groundwater, or a third party GHG emissions in an organisation’s supply United Nations Sustainable for any use over the course of the chain or generated by its customers. Development Goals or SDGs reporting period. See also Greenhouse gas or GHG, scope 1 A set of 17 goals, adopted by all United World Resources Institute or WRI emissions, scope 2 emissions. Nations Member States in 2015 as part of the 2030 Agenda for Sustainable A research organisation that focuses on Strategic Leader Development, which aim to provide a challenges that must be addressed to Managers leading functions, multiple shared blueprint for peace and prosperity reduce poverty, increase economic growth functions, departments, regions or small for people and the planet. and protect natural systems. operating companies. See also Employee category, Individual W Contributor, Team Leader, Operational Leader. Waste diversion SwireTHRIVE The proportion of waste generated in our operations that is diverted from Swire Paci昀椀c’s sustainable development strategy, which deals with climate, waste, disposal at land昀椀ll or incineration without energy recovery. water, people and communities. SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 115