The Board of Directors of Hang Lung Properties Limited announced that Ms. LI Tianfang, who is also known as Ms. Li Guanyi and Ms. Holly LI ("Ms. Li"), has been appointed as an Independent Non-Executive Director ("INED") of the Company with effect from March 20, 2024. Ms. Li, aged 54, holds a Master of Business Administration degree awarded by Macquarie University and a Bachelor degree in Apparel Design and Engineering from Tiangong University. Ms. Li has over 20 years of management experience across fast-moving consumer goods, sportswear, and fashion industry in Mainland China.

She is currently an Advisor to the Chief Executive Officer of Skechers China. She was the Chief Executive Officer of Xtep brand, a brand of Xtep International Holdings Limited ("Xtep"), from 2014 to 2022, and was the Chief Executive Officer of the International Business Group (KSGB) from 2021 to 2023, overseeing global brands including K-Swiss and Palladium. She was the Chief Executive Officer, Mainland China operations, of Esprit Holdings Limited* from 2012 to 2014.

Prior to that, she held various positions in adidas AG from 2000 to 2012 with her last position being the Vice President and General Manager, North China. The Board announces that Mr. Dominic Chiu Fai HO ("Mr. Ho") will retire as an INED of the Company due to personal reasons with effect from the conclusion of the Company's annual general meeting to be held on April 26, 2024. Upon his retirement, Mr. Ho will also cease to be the Chair of the Audit Committee, and a member of the Nomination and Remuneration Committee, of the Company.