Swire Pacific : Announcement

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)

Announcement

Cathay Pacific Airways Limited (which is owned as to 45% by Swire Pacific Limited ("Swire Pacific")) has announced significant capacity reductions following the COVID-19 virus outbreak and that its financial results for the first half of 2020 will be significantly down on the same period last year. This, together with less significant adverse effects of the COVID-19 virus on some of the other businesses of Swire Pacific, means that the recurring results of Swire Pacific for the first half of 2020 are likely to be materially worse than those for the first half of 2019.

General

It is considered that the information in this announcement may constitute inside information. This announcement is accordingly being made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Shareholders and potential investors are advised to exercise caution in dealing in shares of Swire Pacific.

At the date of this announcement, the directors of the Company 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, S.S. Lin and G.R.H. Orr.

By Order of the Board

SWIRE PACIFIC LIMITED

太古股份有限公司

St.John Flaherty

Company secretary

Hong Kong, 17th February 2020