The Board of Directors of Swire Pacific Limited announced that Mr. LEE Chien will retire as an Independent Non-Executive Director of the Company pursuant to Article 93 of the Company's Articles of Association with effect from the conclusion of the Company's 2023 Annual General Meeting to be held on 11th May 2023 and will not stand for re-election. Mr. Lee joined the Board on 1st January 1993 as an Independent Non-Executive Director, and during his tenure, he also served as a member of the Audit Committee (since inception in October 1998), member of the Remuneration Committee (since inception in November 2003 and Chairman of the Committee since April 2012) and member of the Nomination Committee (since inception in March 2022). Mr. Lee has confirmed that he has no disagreement with the Board and that he is not aware of any matters relating to his retirement that need to be brought to the attention of the shareholders of the Company.