Sun Hung Kai & Co. Limited announce that, with effect from 1 July 2023, Mr. Simon Chow Wing Charn ("Mr. Chow") will retire as an Executive Director of the Company ("Executive Director") and will be re-designated as a Non-Executive Director of the Company ("Non-Executive Director"). Subsequent to his retirement and re-designation, he will step down as the Group Deputy Chief Executive Officer of the Company, a member of each of the Executive Committee ("Executive Committee") and the Risk Management Committee ("Risk Management Committee") of the Board, and an authorised representative of the Company ("Authorised Representative") under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

Mr. Chow, aged 68, joined the Company as the Group Deputy Chief Executive Officer in December 2014 and was appointed as an Executive Director on 3 June 2015. He will be re-designated as a Non-Executive Director on 1 July 2023. Mr. Chow has more than 25 years' experience in the banking and financial services industry.

Prior to joining the Company, he has been with Citibank for 18 years and his last position was the country manager for China consumer bank of Citibank. Before that, he held senior roles with UBS, Lehman Brothers, British Columbia Hydro and Power Authority and PricewaterhouseCoopers. He is a member of the Institute of the Chartered Accountants of Canada.

Mr. Chow holds a Bachelor of Science Degree and a Licentiate in Accounting Degree from the University of British Columbia. He also holds directorships in certain subsidiaries of the Company. Mr. Chow did not hold any directorship in any other listed public companies in Hong Kong and overseas during the past three years.

The Board announced that Mr. Brendan James McGraw ("Mr. McGraw") will be appointed as an Executive Director, a member of the Executive Committee and an Authorised Representative with effect from 1 July 2023. Mr. McGraw, aged 50, joined the Company as Group Chief Financial Officer in July 2021. He has more than 20 years of international finance and corporate treasury experience spanning across Asia and Europe and has worked extensively on finance transformation and treasury fundraising in his previous roles.

Prior to joining the Company, Mr. McGraw was the Chief Financial Officer at Amret Microfinance Institution in Cambodia, where he oversaw the Finance Division, including the treasury and strategic planning functions and IFRS 9 loan loss controllership. Before that, Mr. McGraw was the Group Treasurer at CLSA and then Head of Treasury at CITIC Securities International, before becoming the Group Chief Financial Officer for CITIC CLSA in Hong Kong, where he led group reporting, budgeting and planning, product control, tax and treasury. Mr. McGraw spent his early career in treasury and finance roles within manufacturing and services sectors across Europe.

He graduated from The London School of Economics and Political Science with a Bachelor of Science degree in Economics and Economic History and is a Chartered Management Accountant (CIMA) and a qualified Treasurer (ACT). He is a member of the Risk Management Committee and also holds directorships in various subsidiaries of the Company. Mr. McGraw did not hold any directorship in any other listed public companies in Hong Kong and overseas during the past three years.