The board of directors (the "Board") of Hang Lung Properties Limited announces that Mr. Philip Nan Lok CHEN ("Mr. Chen"), a Non-Executive Director of the Company ("NED"), has been re-designated as an Independent Non-Executive Director of the Company ("INED") with effect from January 31, 2023. Mr. Chen, aged 67, has been a NED since July 2018. Mr. Chen joined the Company and its listed holding company, Hang Lung Group Limited ("HLG"), as Chief Executive Officer and an Executive Director in 2010, until he retired in July 2018. Upon his retirement, he was re-designated as a NED, and was appointed as Adviser to Chair until July 2019. Mr. Chen has more than 40 years of management experience, mostly in the aviation industry,
acquiring a wealth of experience in Hong Kong, mainland China and beyond. He is a Member of the Board of Airport Authority Hong Kong and the former Chairman of The Hong Kong Jockey Club. Mr. Chen graduated from the University of Hong Kong in 1977 with a Bachelor of Arts degree and holds a Master's degree in Business Administration from the same university.