Hang Lung Properties Limited has released an amended and restated Terms of Reference for its Nomination and Remuneration Committee, with the changes taking effect on 30 April 2026.

The committee, originally established by the Board on 24 June 2003, continues to emphasize independent oversight: a majority of members must be Independent Non-Executive Directors (INEDs), and the chairmanship is reserved for an INED. Meetings will be convened at least once annually, with a quorum of two members, and minutes will be distributed to all committee members by the appointed secretary.

Key mandates include: 1. Board Composition & Diversity – Annual review of the Board’s structure, size and diversity—including gender, age, cultural background and professional expertise—and recommendations on changes aligned with corporate strategy. 2. Director Nomination – Identification and recommendation of suitably qualified candidates, assessment of INED independence and succession planning for key roles such as Chair and CEO. 3. Remuneration Governance – Ongoing evaluation of the company’s remuneration framework for Directors and senior management, benchmarking against comparable firms, and ensuring transparent processes for setting pay, benefits, pensions and termination packages. 4. Policy Oversight – Regular review of the Board Diversity Policy, adherence to disclosure requirements under Hong Kong’s Companies Ordinance and Listing Rules, and supervision of matters related to share schemes under Chapter 17 of the Listing Rules.

The document also codifies the company’s Nomination Policy by designating the procedures on board diversity, candidate selection and succession planning as core criteria for future director appointments.

The Committee retains authority to seek independent professional advice and is required to report its decisions or recommendations to the Board, barring regulatory restrictions.