The board of directors of Sun Hung Kai Properties Limited announces that Mr. WU Xiang-dong ("Mr. WU") has informed the Company that he will not seek re-election at the annual general meeting of the Company to be held on 2 November 2023 (the "AGM") in order to devote more time to pursue other commitments and that he will retire as an Independent Non-Executive Director of the Company at the AGM. Mr. WU has confirmed that he has no disagreement with the Board of the Company and that he is not aware of any matters in relation to his retirement that need to be brought to the
attention of the holders of the securities of the Company.