Mainland China Management Presentation

Outlook for the China Business INVESTMENT PROPERTIES DEVELOPMENT PROPERTIES FINANCIAL ■ Continue to look for attractive opportunities to develop prime investment properties in Tier-1 cities, particularly in Beijing and Shanghai ■ Higher level of completions expected in 2019 ■ Remain committed to delivering best-in-class developments ☐ ■ Continue to remain disciplined in assessing opportunities ■ Pace of new investments may slow relative to prior two years ■ Solidify WF CENTRAL's position as a premium lifestyle retail destination ■ The Group remains active in seeking residential-led opportunities in its existing markets H 2019 Mainland China Management Presentation 36

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