Sun Hung Kai : POSITIVE PROFIT ALERT SUPPLEMENTAL 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.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 86)

POSITIVE PROFIT ALERT

SUPPLEMENTAL ANNOUNCEMENT

This announcement is made by Sun Hung Kai & Co. Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the positive profit alert announcement of the Company dated 18 February 2020 (the "Announcement"). Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Board wishes to further update the Shareholders and potential investors that, based on the current information available to management and a preliminary review and assessment of the Management Accounts, the profit attributable to the owners of the Company for the year ended 31 December 2019 is expected to show a significant increase by at least 50% from the year ended 31 December 2018 as a result of the Group's gain on the financial instruments during the year.

As the Company is in the process of preparing the Annual Results, the information above is based only on management's preliminary assessment of the Management Accounts which has not been audited or reviewed by the auditor or the Audit Committee of the Company. The Annual Results is expected to be published before end March 2020.

Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

On behalf of the Board

Sun Hung Kai & Co. Limited

Simon Chow Wing Charn

Executive Director

Hong Kong, 28 February 2020

As at the date of this announcement, the Board comprises Messrs. Lee Seng Huang (Group Executive Chairman) and Simon Chow Wing Charn being the Executive Directors; Messrs. Peter Anthony Curry and Jonathan Andrew Cimino being the Non-Executive Directors; and Mr. Evan Au Yang Chi Chun, Mr. David Craig Bartlett, Mr. Alan Stephen Jones and Ms. Jacqueline Alee Leung being the Independent Non-Executive Directors.