The board of directors of Hang Lung Properties Limited announced that Mr. Ronald Joseph ARCULLI, an independent non-executive director, having reached the retirement age as set by the Nomination and Remuneration Committee, will retire and will not offer himself for re-election at the annual general meeting of the Company to be held on April 30, 2021 (the "AGM"). He will retire as a director and will be appointed as the Adviser to Chair with effect from the conclusion of the AGM on April 30, 2021. Mr. Arculli confirms that he has no disagreement with the Board and there is no matter relating to his retirement that needs to be brought to the attention of the shareholders of the Company.