2022 Half-Year Results

Key Market Updates Market conditions in Greater China impacted by anti-pandemic measures. Singapore positive HONG KONG CHINESE MAINLAND • Office: Central outperformed broader market; rents stabilising • • Wider market conditions remained challenging, with high availability and uncertain demand prospects . Leasing sentiment at the Group's Central Portfolio continue to be driven by "flight to quality" · Retail: Anti-pandemic measures dampened demand Footfall and tenant sales improving with stabilising pandemic situation • Residential: Market sentiment was weak due to uncertain economic outlook Pandemic-related shutdowns has impacted development activities and timing of completions Retail: Footfall and tenant sales in Beijing and Shanghai have been impacted by pandemic-related restrictions SINGAPORE Office: Positive absorption in CBD market • Office rents increased due to tightening of supply Leasing momentum at Group's portfolio in line with wider market Residential: Buyer sentiment remained healthy despite cooling measures introduced in late 2021 | Key Markets Updates | 2022 Half-Year Results 3

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