Furthering our Commitment to Sustainability with Demonstrated Resilience under the Pandemic

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HONG KONG SAR - Media OutReach - 13 May 2021 - Hang Lung Group Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) today published their online Sustainability Reports 2020. The reports highlight the steps and progress made to advance sustainability initiatives in the course of the year and continue the journey towards becoming one of the most sustainable real estate companies in the world.

Hang Lung Group and Hang Lung Properties publish their online Sustainability Reports 2020 featuring the sustainability framework and a set of 2030 sustainability goals and targets

Major initiatives and achievements during the year include: 1) measures implemented to protect the wellbeing of our employees, customers and communities � our topmost priority throughout the COVID-19 pandemic; 2) the launch of an enhanced sustainability framework that focuses on Climate Resilience, Resource Management, Wellbeing and Sustainable Transactions; 3) the establishment of a set of long-term sustainability goals and targets to be achieved by 2030, with 35 strategic environmental, social and governance (ESG) key performance indicators (KPIs) set for 2021; and 4) marked progress made on sustainable finance which accounted for 13% of total debts and available facilities at the end of 2020.

Mr. Weber Lo, Chief Executive Officer of Hang Lung Group and Hang Lung Properties, said, "I would like to thank all of my colleagues for their tenacity and dedication through such a challenging year in working as one team towards our sustainability goals. In response to the pandemic, multiple measures were adopted to provide our colleagues with support and safeguards against the risk of infection including a dedicated pandemic response team, provision of protective equipment, and the formalization of flexible work arrangements. Through our concerted efforts, we achieved zero infection for all personnel at Heartland 66 in Wuhan. In support of the communities in which we operate, we also donated RMB10 million to establish the Hang Lung Novel Coronavirus Relief Fund.

On our path to achieving sustainability leadership, ESG KPIs are established across the company, which are directly tied to our annual performance reviews and which embed sustainability principles and practices directly in our daily work. These initiatives reaffirm our commitment to instilling sustainable values, and mark important steps forward on our leadership journey."

Mr. Adriel Chan, Vice Chair of Hang Lung Group and Hang Lung Properties and the Chair of the Sustainability Steering Committee, said, "Despite the uncertainties and challenges of last year, we have made significant strides forward in our sustainability efforts. Our new expression of our Vision, Mission and Values � of which sustainability is an integral part � demonstrates our determination to embed sustainability throughout our business lifecycle for the long-term. While creating compelling spaces that enrich lives, we are also deepening our sense of responsibility to our communities and to future generations."

In addition to the key highlights and achievements mentioned above, other highlights include:

• The issuance, by the Boards of Directors of Hang Lung Group and Hang Lung Properties, of a Joint Statement on Oversight and Management of ESG Issue, elaborating on the Boards' ESG management approach and strategy, and their role in reviewing progress against ESG-related goals and targets
• The development of Hang Lung's Sustainability Policy, which provides clear guidance to employees on the pursuit of sustainability leadership, including the principles and processes for implementing relevant initiatives aligned with the sustainability framework
• Achieving a 21.5% reduction of electricity intensity by construction floor area compared to 2019
• Obtaining first LEED Platinum pre-certifications for two office towers at Westlake 66 in Hangzhou
• The donation of HK$25 million for a wide array of sustainable community investment programs

Recognition Earned

In 2020, Hang Lung Properties was included as a constituent of the Dow Jones Sustainability Asia Pacific Index for four consecutive years, received a three-star performance rating and an A-grade disclosure rating under GRESB for three consecutive years and was selected as a constituent of the Hang Seng Corporate Sustainability Index and the Hang Seng (Mainland and Hong Kong) Corporate Sustainability Index with an "AA-" rating or above for 11 consecutive years.

The Sustainability Reports 2020 of Hang Lung are now available for download at the links below:

Hang Lung Group

https://www.hanglung.com/en-us/group/media-center/publications/sustainability

Hang Lung Properties

https://www.hanglung.com/en-us/media-center/publications/sustainability

About Hang Lung Properties

Hang Lung Properties Limited (stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the "66" brand, the company's Mainland portfolio has established its leading position as the "Pulse of the City". Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.

At Hang Lung Properties � We Do It Well.

For more information, please visit www.hanglung.com.

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