香港交易及結算所有限公司及香港聯合交易所有限公司對本文件的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明 確表示，概不對因本文件全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 股東周年大會通告 茲通告恒隆地產有限公司（「本公司」）訂於2025年4月30日（星期三）上午10時正假座香港金 鐘道88號太古廣場港麗酒店大堂低座港麗大禮堂召開股東周年大會（「股東周年大會」）， 目的為討論下列事項： 考慮並酌情通過下列決議案為普通決議案： - 1 - 1. 省覽截至2024年12月31日止年度之已審核財務報表及董事會與獨立核數師報告； 2. 宣派末期股息； 3. 重選本公司之董事會（「董事會」）之退任董事及授權董事會釐定董事袍金；及 4. 續聘畢馬威會計師事務所為核數師及授權董事會釐定核數師酬金。 5. 「動議： (a) 在下文(b)段之規限下，全面及無條件批准董事會於有關期間（定義見下文）內行 使本公司之一切權力回購本公司股份； (b) 根據上文(a)段之批准，本公司於香港聯合交易所有限公司（「聯交所」），或於證 券及期貨事務監察委員會以及聯交所根據股份回購守則所承認之任何其他證券 交 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的持牌證券 交易商、銀行經理、律師、專業會計師或其他專業顧問。 建議重選退任董事、 發行及回購股份之一般性授權 閣下如已將名下的恒隆地產有限公司股份全部售出或轉讓，應立即將本通函及隨 附之代表委任書送交買方或承讓人，或經手買賣或轉讓的銀行、持牌證券交易商 或其他代理商，以便轉交買方或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通函全部 或任何部分內容而產生或因倚賴該等內容引致的任何損失承擔任何責任。 及 股東周年大會通告 恒隆地產有限公司謹訂於 2025年 4月 30日（星期三）上午 10時正假座香港金鐘道 88 號太古廣場港麗酒店大堂低座港麗大禮堂召開股東周年大會，召開股東周年大會 通告載於本通函第 10至第 14頁。 不論 閣下能否出席股東周年大會，務請儘快按隨附之代表委任書上印列之指示 填妥，並於股東周年大會（或其任何續會）指定舉行時間不少於 48小時前交回本公 司之股票過戶及登記處香港中央證券登記有限公司，地址為香港灣仔皇后大 ...

2024 可持續發展報告 目錄 恒隆地產有限公司 股份代號：00101 www.hanglung.com www.hanglung.com/sustainability © 恒隆地產有限公司 2025 本報告之中英文版本如有任何歧義，概以英文版本 為準。 4 報告簡介 5 關於恒隆地產 6 董事長寄語 8 行政總裁寄語 10 2024 年亮點 15 我們的可持續發展方針 39 應對氣候變化 67 資源管理 87 福祉 109 可持續交易 138 附錄 1 – 主要可持續發展趨勢 146 附錄 2 – 組織、約章及外部認可 154 附錄 3 – 可持續發展目標、指標及關鍵績效 指標 161 附錄 4 – 可持續建築認證列表 165 附錄 5 – 可持續發展表現列表 185 附錄 6 – 獨立保證意見聲明書 187 附錄 7 – 獨立執業會計師就綠色債券和綠色貸 款發出的有限保證鑒證報告 191 附錄 8 – 報告內容索引 註冊辦事處： 香港中環德輔道中 4 號渣打銀行大廈 28 樓 +852 2879 0111 Sustainability@HangLung.com 引言 引言 我們的可持續發展策略 應對氣候變 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公布的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公布全部或任何部分內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 恒隆地產有限公司 HANG LUNG PROPERTIES LIMITED 授出日期 : 2025 年 1 月 27 日 授出之股份期權 : 姓名 根據股份期權 可認購之股份數目 陳文博先生 2,000,000 盧韋柏先生 4,000,000 趙家駒先生 600,000 行使價 : 每股股份港幣6.21元 股份於授出日期當天的收市價 : 每股股份港幣6.21元 股份期權的歸屬期及行使期 : (1) 首20%股份期權於2027年1月27日至2035 年 1 月 26 日歸屬及可予行使 (2) 其後 30%股份期權於 2028 年 1 月 27 日至 2035 年 1 月 26 日歸屬及可予行使 (3) 餘下 50%股份期權於 2029 年 1 月 27 日至 1 （於香港註冊成立之有限公司） （股份代號﹕00101） 授出股份期權 本公布乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 17.0 ...

Financial Data and Key Metrics Changes - Rental income decreased by approximately 6% and operating profit fell by 9% due to a decline in variable rent, despite fixed rents increasing by nearly 6% [12][13][14] - The company reported a revenue from property sales of $150 million, which was impacted by provisions made for inventory markdowns [15][36] - The net gearing ratio stood at around 33.4%, with expectations for it to remain similar in 2025 if no new projects are undertaken [40][41] Business Line Data and Key Metrics Changes - The luxury sector performed well, with subluxury malls outperforming the market, while overall retail sales dropped by 14% [24][28] - Fixed rents increased, indicating a successful strategy to convert sales trends into fixed income [61] - The hotel segment was reported separately for the first time, reflecting the company's growing portfolio [16] Market Data and Key Metrics Changes - Mainland rental revenue dropped by 4% in RMB terms and 5% in HKD terms, primarily due to RMB depreciation [18][20] - The company noted a significant drop in luxury spending, with a 30% decrease in sales in Hainan, while the average ticket size dropped by 14% to 16% [66][69] - The overall sentiment in the market remains cautious, with expectations for a mild increase in 2025 [69][87] Company Strategy and Development Direction - The company aims to consolidate brands and increase occupancy rates across its malls, focusing on enhancing customer experience [27][76] - Strategic initiatives include the use of low carbon emissions fuel for new projects and a commitment to renewable energy for properties [42][43] - The company is actively managing its financials through prudent provisions and adjustments to dividends to maintain flexibility [45][84] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging year but highlighted strong occupancy rates and the resilience of the subluxury sector [4][7] - There is a cautious outlook for 2025, with management emphasizing the need for strategic adjustments in response to market conditions [9][69] - The management expressed confidence in the company's ability to navigate the current environment while seeking growth opportunities [45][80] Other Important Information - The company has signed a RMB10 billion syndicated loan with 13 banks, reflecting strong support from financial institutions [39] - A strategic reset of dividends was implemented, with a 33% cut announced, aimed at improving financial stability [17][84] - The company is focusing on enhancing its tenant mix and customer experience to drive traffic and sales [92][95] Q&A Session Summary Question: What is the rental reversion trend in the second half of last year and expectations for 2025? - Management indicated that fixed rents in Mainland increased by 6%, but overall sales trends still impacted revenue negatively [61][62] Question: How is January performing in terms of traffic and tenant sales? - January showed improvements in both foot traffic and sales compared to the previous year, but management remains cautious about drawing conclusions [64][65] Question: What strategies are in place to cope with new supply in Shanghai? - The company plans to consolidate tenant quality and enhance customer experience to remain competitive against new developments [75] Question: Can you elaborate on the dividend reset and its underlying assumptions? - The reset is seen as a strategic move to provide financial flexibility, with the intention to adjust based on market conditions [77][84] Question: What are the expectations for financing costs in 2025? - Financing costs are expected to be slightly lower than the previous year, based on current market conditions and forecasts [82]

第 2 頁 共 2 頁 v 1.1.1 EF003 第 1 頁 共 2 頁 v 1.1.1 | | 香港中央證券登記有限公司 皇后大道東183號 | | --- | --- | | 股份過戶登記處及其地址 | 合和中心 | | | 17樓1712-1716號舖 | | | 灣仔 | | | 香港 | | 代扣所得稅信息 | | | 股息所涉及的代扣所得稅 | 不適用 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公布日期，恒隆地產有限公司之董事會包括： | | | 執行董事： | | | 陳文博先生 | | | 盧韋柏先生 | | | 趙家駒先生 | | | 獨立非執行董事： | | | 袁偉良先生 | | | 陳南祿先生 | | | 陳嘉正博士 | | | 馮婉眉女士 | | | 李天芳女士 | | EF003 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | ...

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 11,242 million, a 9% increase compared to HKD 10,316 million in 2023[5] - Basic earnings attributable to shareholders dropped by 25% to HKD 3,095 million, with corresponding earnings per share of HKD 0.67, down from HKD 0.92 in 2023[5] - The overall operating profit for the year was HKD 6,455 million, a decrease of 13% from HKD 7,389 million in 2023[6] - Net profit for the year was HKD 2,657 million, a decline of 42.3% compared to HKD 4,596 million in 2023[85] - The company reported a total comprehensive income of HKD 561 million for 2024, a significant drop from HKD 2,917 million in 2023[85] - The net profit attributable to shareholders for 2024 was HKD 2,153 million, down from HKD 3,970 million in 2023, a decline of 45.7%[97] Revenue Breakdown - Rental income decreased by 6% to HKD 9,515 million, while operating profit fell by 9% to HKD 6,763 million[6] - Overall rental income and tenant sales in Hong Kong decreased by 10% and 4% respectively compared to last year[13] - In mainland China, total rental income fell by 4% to RMB 5,900 million, with a 6% decline in operating profit[14] - Property sales generated HKD 1.538 billion in revenue from the sale of 120 residential units in Hong Kong and other properties[38] - Hotel revenue for 2024 totaled HKD 189 million, up from HKD 154 million in 2023, marking a growth of 22.7%[95] Asset and Liabilities - The net asset value per share decreased to HKD 27.5 from HKD 29.4 in the previous year[4] - The total value of investment properties and properties under development as of December 31, 2024, was HKD 190.52 billion, with mainland properties valued at HKD 128.04 billion and Hong Kong properties at HKD 62.48 billion[41] - The total borrowings amounted to HKD 57.376 billion as of the reporting date, an increase from HKD 50.704 billion in 2023[52] - Non-current liabilities rose to HKD 61,650 million, up from HKD 60,042 million in 2023, indicating a 2.7% increase[87] - The fair value of investment properties decreased to HKD 166,519 million from HKD 169,046 million in 2023, reflecting a decline of 1.5%[87] Dividends - The proposed final dividend for 2024 is HKD 0.40 per share, down from HKD 0.60 in 2023, resulting in a total dividend of HKD 0.52 for the year[9] - The total annual dividend for 2024 is HKD 2.479 billion, down from HKD 3.509 billion in 2023, with an interim dividend of HKD 0.12 per share and a proposed final dividend of HKD 0.40 per share[105] Debt and Financing - The net debt to equity ratio increased to 33.4% from 31.9% in 2023[4] - The average repayment period of the overall debt portfolio is 2.9 years, with approximately 65% of loans due for repayment after two years[56] - The total financial costs increased by 8% to HKD 2.109 billion, maintaining an average effective borrowing rate of 4.3%[59] - The unutilized balance of committed bank credit facilities was HKD 12.535 billion as of December 31, 2024, down from HKD 15.717 billion in the previous year[57] Sustainability Initiatives - The company aims to achieve a 25% usage of renewable energy in its mainland properties by 2025, with over 45% already achieved[67] - The company announced that nearly 100% of the structural steel used in the Shanghai Hang Lung Plaza Phase III expansion will be low-carbon steel, reducing total embedded carbon emissions by 35%[68] - The "Changemakers: Tenant Sustainability Collaboration Program" attracted 46 sustainable tenants across various industries, covering over 210,000 square meters of total leased area[70] Operational Strategies - The company aims to optimize tenant mix and enhance marketing strategies to improve rental rates despite market challenges[11] - The company plans to enhance tenant mix and implement proactive marketing strategies to boost customer traffic and loyalty[22] - The company continues to focus on operational flexibility and core strengths to navigate geopolitical uncertainties and economic challenges[77]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公布的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公布全部或任何部分內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 恒隆地產有限公司 HANG LUNG PROPERTIES LIMITED （於香港註冊成立之有限公司） （股份代號﹕00101） 於本公布日期，本公司董事會包括： 執行董事： 陳文博先生、盧韋柏先生及趙家駒先生 獨立非執行董事： 袁偉良先生、陳南祿先生、陳嘉正博士、馮婉眉女士及李天芳女士 恒隆地產有限公司（「本公司」）謹定於2025年1月24日（星期五）舉行董事會會議， 藉以批准（其中包括）本公司及其附屬公司截至2024年12月31日止年度之全年業 績，以及考慮派發末期股息之建議（如適用）。 承董事會命 公司秘書 馬婉華 香港，2025年1月3日 董事會召開日期 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公布的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公布全部或任何部分內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 恒隆地產有限公司 HANG LUNG PROPERTIES LIMITED （於香港註冊成立之有限公司） （股份代號﹕00101） 持續關連交易 2025年管理協議 茲提述2022年公布，內容關於本公司的間接全資附屬公司恒隆地產（中國）與港興企 業就港匯恒隆廣場提供管理服務而訂立的2022年管理協議。 2022年管理協議將於2024年12月31日到期。於2024年12月9日，恒隆地產（中國）與 港興企業訂立2025年管理協議，以重續2022年管理協議的交易及其項下的年度上限。 於本公布日期，港興企業為本公司主要股東恒隆集團的間接非全資附屬公司，因此為 本公司之關連人士。因此，根據《上市規則》第14A章，訂立2025年管理協議及其項 下擬進行的交易構成本公司的持續關連交易。 由於2025年管理協議項下年度上限的一項或多項適用百分比率（定義見《上市規則》 第14.07條）超逾0.1%，但低於5%，故2025 ...

Financial Performance - Property sales reached HKD 1.2 billion, driving total revenue up by 17% to HKD 6.1 billion[5] - Total revenue for the first half of 2024 reached HKD 6,114 million, an increase from HKD 5,237 million in the same period of 2023[11] - Basic earnings per share fell by 22% to HKD 0.38, with net profit attributable to shareholders at HKD 10.61 billion, down from HKD 23.94 billion in 2023[14] - The company reported a profit of HKD 1,339 million for the six months ended June 30, 2024, a decrease of 51.0% compared to HKD 2,732 million in the same period of 2023[85] - The net profit attributable to shareholders for 2024 was HKD 1,061 million, down 22% from HKD 2,394 million in 2023[105] Revenue Breakdown - Core business (recurring rental income) decreased by 7% to HKD 4.9 billion, while basic rental profit attributable to shareholders fell by 22% to HKD 1.8 billion[5] - Property leasing income decreased by 7% to HKD 4.886 billion, with a decline of 11% in Hong Kong and 6% in mainland China[15] - The overall rental income in mainland China decreased by 3% to RMB 3.034 billion, with a 4% decline in office rental income[19] - Retail property revenue decreased by 7% to HKD 940 million, with an overall occupancy rate of 97%[31] - The company expanded its revenue base with strong performance outside Shanghai, adding a fourth pillar to its business model[8] Market Conditions - Tenant sales in Shanghai shopping malls dropped over 20%, contributing to a 13% decline in tenant sales across the mainland property portfolio[5] - Consumer confidence remains low, with tenant sales outside Shanghai declining by 4% due to economic uncertainty and reduced disposable income[6] - The luxury retail market in mainland China remains weak, impacting overall rental income and tenant sales[20] - High-end shopping mall revenue in mainland China dropped by 4%, while mid-tier malls saw a 5% increase in revenue[21] Debt and Financial Management - Interest expenses increased by 52% compared to the same period in 2023, significantly impacting basic profit[5] - Management is exploring debt reduction strategies, including controlling capital and operating expenditures, and prioritizing debt repayment over dividends and new investments[7] - The company anticipates that debt and interest levels will peak at around 35% in two years, which is considered acceptable[6] - The company’s net debt to equity ratio increased to 32.9% as of June 30, 2024, compared to 31.9% at the end of 2023[13] - The financial expenses increased by 21% to HKD 1,063 million in the first half of 2024, with an average effective borrowing rate rising to 4.3%[49] Dividends and Share Options - The company reported a decrease in interim dividend to HKD 0.12 per share from HKD 0.18 in 2023[12] - The company declared an interim dividend of HKD 0.12 per share for 2024, compared to HKD 0.18 per share in 2023, totaling HKD 566 million[103] - The total number of share options under the 2022 Share Option Scheme available for grant is 282,875,550 shares, accounting for approximately 6.0% of the total issued shares[66] - The company has a significant concentration of ownership, with the top shareholders holding over 63% of the total shares[73] Property Valuation and Investments - The company recorded a net loss of HKD 6.74 billion from property revaluation, compared to a net gain of HKD 1.69 billion in 2023[14] - The fair value of properties decreased by HKD 634 million during the period, compared to an increase of HKD 251 million in the previous year[84] - The total value of investment properties and properties under development reached HKD 193.007 billion, with HKD 150 billion in capital commitments[35] - The company acquired investment properties and properties under development totaling HKD 1,915 million in the first half of 2024, compared to HKD 1,569 million in the same period of 2023[108] Sustainability Initiatives - The "Changemakers" sustainability program now includes 16 tenants across 14 properties, covering over 78,000 square meters[8] - Half of the operational properties in mainland China have adopted renewable energy through green power procurement agreements since April 1, 2024[52] - The "Changemakers: Tenant Sustainability Collaboration Program" was launched in December 2023, involving 16 tenants across 14 properties with a total leased area of over 78,000 square meters[53] Corporate Governance - The company emphasizes maintaining high corporate governance standards, with a board composition of 62.5% independent non-executive directors[56][57] - The Audit Committee has reviewed the interim financial report for the six months ending June 30, 2024, and recommended its adoption by the board[59] - The company has complied with the Corporate Governance Code as per the Listing Rules during the six months ending June 30, 2024[60] Future Outlook - The company anticipates a shift from a high-interest environment to potential interest rate cuts, which may boost global economic sentiment[55] - The company expects to maintain weak demand for office leasing in the second half of 2024 due to current market conditions[55] - The company plans to continue expanding its property leasing and sales segments, focusing on enhancing operational efficiency and customer satisfaction[94]