SWIRE PACIFIC A (00019) and SWIRE PACIFIC B (00087) jointly announced that on March 12, 2026, the company entered into a placing agreement with a placing agent. Under the agreement, the company will sell shares in CATHAY PAC AIR (00293) through the placing agent at a price of HK$11.74 per share. The shares to be sold represent approximately 2.52% of the total issued CATHAY PAC AIR shares (excluding treasury shares) as of the date of this announcement. The placing price represents a discount of approximately 9.6% to CATHAY PAC AIR's closing price of HK$12.99 per share on the Hong Kong Stock Exchange on March 12, 2026.

The company expects to receive net proceeds of approximately HK$1.789 billion from the placing. The net proceeds from the placing are intended to be used for general working capital purposes.

This placing will restore the company's shareholding in CATHAY PAC AIR to the historical level prior to the completion of CATHAY PAC AIR's off-market share repurchase from Qatar Airways Group Q.C.S.C. As of the date of this announcement, the company holds an interest of approximately 47.64% in the total issued CATHAY PAC AIR shares (excluding treasury shares). Assuming no change in the total number of CATHAY PAC AIR shares, upon completion of the placing, the company will hold an interest of approximately 45.12% in the total issued CATHAY PAC AIR shares (excluding treasury shares). The company maintains confidence in and a firm commitment to CATHAY PAC AIR.