Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

SWIRE PACIFIC LIMITED

太古股份有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Codes: 00019 and 00087)

SWIRE PROPERTIES LIMITED

太古地產有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 1972)

Announcement

Quarterly Operating Statement of Swire Properties Limited

First Quarter 2019

This statement contains certain operating information about Swire Properties Limited in relation to the first quarter of 2019. The information has been prepared on the basis of internal management records. It has not been audited or reviewed by external auditors.

1.Completed Investment PropertiesOffice

Principal

Occupancy

Area Let

Reversion (1)

Latest Rentals

Properties

(New and

(For the three

(Headline)

renewed

months ended

tenancies)

31 Mar 2019)

(As at

(As at

(For the three

(including rent

31 Dec

31 Mar

months ended

reviews)

2018)

2019)

31 Mar 2019)

Hong Kong

(sq ft)

(HK$ psf)

Pacific Place

100%

99%

387,566

+ 20%

1PP / 2PP: 130 - 165

3PP: 115 - 125

Taikoo Place (2)

99%

99%

237,863

+ 13%

high 40s - mid 50s

One Island East &

99%

99%

196,601 (3)

+ 9% (3)

mid 50s - low 70s

One Taikoo Place

Overall HK Office

99% (4)

98%

N/A

N/A

N/A

Mainland China

(sq m)

(RMB psm)

Taikoo Hui Offices

99%

99%

14,121

N/A

mid 100s - low 200s

ONE INDIGO

97%

97%

5,318

N/A

high 200s - low 300s

HKRI Centre 1 &

98% (4)

98%

5,075

N/A

mid 300s - mid 400s

Centre 2

- 1 -

Retail

Principal Properties

Occupancy

Retail Sales

Growth

(As at

(As at

(For the three

months ended

31 Dec

31 Mar

31 Mar 2019)

2018)

2019)

Hong Kong

The Mall, Pacific Place

100%

100%

- 2.3%

Cityplaza

100%

100%

- 1.3%

Citygate Outlets

100%

100%

+ 0.5% (5)

Mainland China

Taikoo Li Sanlitun

100%

100%

+ 7.3%

Taikoo Hui, Guangzhou

100%

100%

+ 12.1%

INDIGO

99%

99%

+ 18.9%

Sino-Ocean Taikoo Li Chengdu

99%

97%

+ 15.8%

HKRI Taikoo Hui, Shanghai

97% (4)

97%

+ 56.5%

Miami, Florida, USA

Brickell City Centre

89% (4)

90% (4)

+ 32.8%

Notes:

(1)Reversion is the percentage change in rent on lease renewals, entry into new leases and rent reviews.

(2)Including PCCW Tower.

(3)Excluding One Taikoo Place which was completed in September 2018.

(4)Including space allocated to prospective tenants who have signed letters of intent.

(5)Excluding area closed for renovation and upgrading works for the first quarter.

2.Investment Properties and Hotels under Development

Principal Properties

GFA

Actual/

Development Status

(100% basis)

Expected

Completion

Hong Kong

(sq ft)

Tung Chung Town Lot No. 11

~474,000 (6)

2019

- Occupation permit was obtained in

March 2019.

Two Taikoo Place

~1,000,000

2021 / 2022

- Foundation works in progress.

46-56 Queen's Road East, 1A-11

~218,000

2023

- Demolition in progress.

Landale Street, 2A-12 Anton Street

(formerly known as "Po Wah Building, 1-

11 Landale Street and 2-12 Anton Street)

Mainland China

(sq m)

Taikoo Li Qiantan, Shanghai

115,852

2020

- Construction of basement and

superstructure in progress.

- 2 -

Principal Properties

GFA

Expected

Development Status

(100% basis)

Completion

Miami, Florida, USA

(sq ft)

One Brickell City Centre

1,967,000 (7) (8)

To be

- Future development under planning.

determined

Notes:

(6)Excluding a public transport terminus of approximately 65,000 sq ft to be assigned to the Hong Kong Government.

(7)Represents leasable or saleable area.

(8)Including residential portion.

3.Trading Properties

Trading Properties

GFA

Expected

Expected

Development Status

(100% basis)

Completion

Handover

Hong Kong

(sq ft)

21-31 Wing Fung Street

30,511 (9)

2022

2022

- Foundation works in progress.

Trading Properties

Saleable

Total

Units Sold

Average Sale Price

(As at 7 May 2019)

Area (10)

Units

(based on saleable area)

(100% basis)

Miami, Florida, USA

(sq ft)

(US$ psf)

Reach, Brickell City Centre

51,042

390

363 (11)

mid 600s

Rise, Brickell City Centre

178,435

390

270 (12)

high 600s

Notes:

(9)Excluding a retail podium of approximately 3,281 sq ft which will be retained by the Company for investment purposes.

(10)Represents the saleable area of the remaining unsold units.

(11)The profit from the sale of 361 units was recognised before 2019. The profit from the sale of two units is expected to be recognised in 2019.

(12)The profit from the sale of 234 units was recognised before 2019. The profit from the sale of 36 units is expected to be recognised in 2019.

- 3 -

Investors are advised to exercise caution in dealing in shares of Swire Pacific Limited and Swire Properties Limited.

As at the date of this announcement, the Directors of Swire Pacific Limited are:

Executive Directors: M.B. Swire (Chairman), I.K.L. Chu, D.P. Cogman, M.M.S. Low;

Non-Executive Directors: M. Cubbon, S.C. Swire; and

Independent Non-Executive Directors: P.K. Etchells, T.G. Freshwater, C. Lee, R.W.M. Lee and G.R.H. Orr.

As at the date of this announcement, the Directors of Swire Properties Limited are:

Executive Directors: M.B. Swire (Chairman), G.M.C. Bradley, F.N.Y. Lung;

Non-Executive Directors: N.A.H. Fenwick, P. Healy, R.S.K. Lim, M.M.S. Low; and

Independent Non-Executive Directors: L.K.L. Cheng, S.T. Fung, S.C. Liu and M.Y. Wu.

By Order of the Board

By Order of the Board

SWIRE PACIFIC LIMITED

SWIRE PROPERTIES LIMITED

太古股份有限公司

太古地產有限公司

David Fu

David Fu

Company Secretary

Company Secretary

Hong Kong, 10th May 2019

Hong Kong, 10th May 2019

- 4 -

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Swire Pacific Ltd. published this content on 10 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 May 2019 10:02:09 UTC