Phase 3 Pavilion Expansion 100% Committed, Opening in September 2026

HONG KONG SAR and SHANGHAI, CHINA – Media OutReach Newswire – 12 August 2026 – Hang Lung Properties Limited ("Hang Lung" or the "Company"; SEHK stock code: 00101) today announced the upgrade of Plaza 66 in Shanghai, adding and reconfiguring a total of 6,749 square meters of commercial and community space to anchor its position as a leading, next generation, world-class luxury retail destination in the Chinese Mainland. As part of the enhancements, the Pavilion Expansion, i.e. Phase 3 of Plaza 66,will officially open in September 2026, adding approximately 4,300 square meters of retail space and a 645-square-meter Art Pavilion, an open-air leisure and community area. In addition, the mall will introduce a 1,080-square-meter Roof Garden,and enlarge its exclusive VIC Lounge by 65% to 724 square meters. Together with an expanded dining offering, these enhancements will further attract affluent customers seeking arrays of sophisticated lifestyle experiences. The Pavilion Expansion has already achieved full commitment. Building on the mall's existing portfolio of flagship maisons from leading international luxury brands, the project will introduce 27 new brands, including first-in-market and concept stores from some of the world's most prestigious names (see Appendix for details). The expansion will further strengthen the mall's luxury retail offering while introducing a new curation of premium dining concepts. Plaza 66 is further enriching its placemaking and community-focused spaces and experiences:

• Art Pavilion (near the intersection of Nanyang Road and North Shaanxi Road): An open-air landscaped sanctuary designed for leisure and community engagement.
• Roof Garden (Level 6 of the mall): An urban resort-inspired placemaking venue scheduled to open in Q4 2026.
• VIC Lounge (relocating to Level 5 of the mall): The expanded lounge, scheduled to open in Q1 2027, will feature additional outdoor space, enhancing brand experiences, bespoke hospitality, and its positioning as a diverse lifestyle partner.
• Enhanced Dining Portfolio (across the mall and the Pavilion): Approximately 20 restaurants are being rolled out, ranging from Michelin-starred establishments to Shanghai first-to-market concepts.

Ms. Janice Cheung, Director – Mainland Business Operation of Hang Lung Properties, said:"This year marks the 66^th anniversary of Hang Lung and the 25^th anniversary of Plaza 66. Over the years, Plaza 66 has continuously upgraded its retail offering and tenant mix, enriching its ecosystem of refined luxury experiences to meet evolving market demand. Our latest advancements address strong interest from leading international brands while curating novel experiences that blend emotional engagement with authentic cultural resonance. The project will further reinforce Plaza 66's luxury retail leadership in the Chinese Mainland and on West Nanjing Road, support Shanghai's development as an international consumption center, and meet the expectations of our new generation of discerning customers." Looking ahead, Hang Lung will continue to optimize its retail and spatial offerings across its portfolio, leveraging the success of Plaza 66 to tailor sophisticated lifestyle experiences that integrate commerce, culture, and community. Appendix: Overview of the Plaza 66 DevelopmentAppendix: Brands at the Plaza 66 Pavilion Expansion

1. B1ock (Featuring Shanghai's first CAFÉ ASTIER DE VILLATTE and B1OCK GALLERY contemporary art gallery)
2. Balmain
3. BegL
4. Berluti
5. Borsalino (First official boutique in Greater China)
6. Brunello Cucinelli (First flagship store in Chinese Mainland)
7. Crave
8. Dunhill
9. Huawei (World's first flagship store featuring the brand's latest premium retail concept)
10. Hublot (Exclusive flagship store in China)...