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Investor Presentaiton

By 2027, new stock will represent only 4.6% of total stock as at the end of 2022 25.1 25.1 24.7 24.7 24.9 24.0 Central Portfolio outperforms market; upcoming supply manageable Since 2017 HKL Central Portfolio has outperformed broader Central; new stock represents less than 5% of total stock HKL Central Portfolio vacancy vs Central Central office space, 2022-2027 (million sq. ft) 9.4% 8.8% 8.0% 7.3% 6.2% 5.9% 3.6% 4.9% 4.7% Jun-23 Dec-22 Jun-22 Dec-21 Jun-21 Dec-20 Jun-20 HKL Central Portfolio Committed Vacancy % Central Vacancy % Dec-19 Jun-19 2.2% 1.7% 1.8% 2.9% 1.7% 0.6% 0.8% Dec-18 Jun-18 Source: JLL | Investment Properties | 2023 Half-Year Results Dec-17 Jun-17 Dec-16 2022 2023 2024 2025 2026 2027 â– Existing stock New stock 11
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