Hang Lung Publishes Sustainability Reports 2020

Furthering our Commitment to Sustainability with Demonstrated Resilience under the Pandemic

HONG KONG SAR – Media OutReach – 13 May 2021 – Hang Lung Group
Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code:
00101) today published their online Sustainability Reports 2020. The reports
highlight the steps and progress made to advance sustainability initiatives in
the course of the year and continue the journey towards becoming one of the
most sustainable real estate companies in the world.

Hang Lung Group and Hang Lung Properties publish their
online Sustainability Reports 2020 featuring the sustainability framework and a
set of 2030 sustainability goals and targets

Major initiatives and
achievements during the year include: 1) measures implemented to protect the
wellbeing of our employees, customers and communities – our topmost priority
throughout the COVID-19 pandemic; 2) the launch of an enhanced sustainability
framework that focuses on Climate Resilience, Resource Management, Wellbeing
and Sustainable Transactions; 3) the establishment of a set of long-term sustainability
goals and targets to be achieved by 2030, with 35 strategic environmental, social
and governance (ESG) key performance indicators (KPIs) set for 2021; and 4)
marked progress made on sustainable finance which accounted for 13% of total
debts and available facilities at the end of 2020.

Mr. Weber Lo, Chief Executive Officer
of Hang Lung Group and Hang Lung Properties, said, “I would like to thank all
of my colleagues for their tenacity and dedication through such a challenging
year in working as one team towards our sustainability goals. In response to
the pandemic, multiple measures were adopted to provide our colleagues with
support and safeguards against the risk of infection including a dedicated
pandemic response team, provision of protective equipment, and the formalization
of flexible work arrangements. Through our concerted efforts, we achieved zero infection for all personnel at Heartland 66 in Wuhan. In support of the communities in which we
operate, we also donated RMB10 million to establish the Hang Lung Novel
Coronavirus Relief Fund.

On our path to achieving sustainability
leadership, ESG KPIs are established across the company, which are
directly tied to our annual performance reviews and which embed sustainability
principles and practices directly in our daily work. These initiatives reaffirm
our commitment to instilling sustainable values, and mark important steps
forward on our leadership journey.”

Mr. Adriel Chan, Vice Chair of Hang
Lung Group and Hang Lung Properties and the Chair of the Sustainability
Steering Committee, said, “Despite the uncertainties and challenges of last
year, we have made significant strides forward in our sustainability efforts. Our new expression of our Vision, Mission and Values – of which
sustainability is an integral part – demonstrates our determination to embed
sustainability throughout our business lifecycle for the long-term. While creating compelling spaces that enrich lives, we
are also deepening our sense of responsibility to our communities and to future generations.”

In addition to the key highlights and achievements mentioned above, other highlights include:

• The issuance, by the Boards of Directors of Hang Lung Group and Hang Lung Properties, of a Joint Statement on Oversight and Management of ESG Issue, elaborating on the Boards’ ESG management approach and strategy, and their role in reviewing progress against ESG-related goals and targets
• The development of Hang Lung’s Sustainability Policy, which provides clear guidance to employees on the pursuit of sustainability leadership, including the principles and processes for implementing relevant initiatives aligned with the sustainability framework
• Achieving a 21.5% reduction of electricity intensity by construction
  floor area compared to 2019
• Obtaining first LEED Platinum pre-certifications for two office towers
  at Westlake 66 in Hangzhou
• The donation of HK$25 million for a wide array of sustainable community
  investment programs

Recognition Earned

In 2020, Hang Lung Properties was included
as a constituent of the Dow Jones Sustainability Asia Pacific Index for four consecutive years, received a three-star performance rating and an A-grade
disclosure rating under GRESB for three consecutive
years and was selected as a constituent of the
Hang Seng Corporate Sustainability Index and the Hang Seng (Mainland and Hong
Kong) Corporate Sustainability Index with an “AA-” rating or above for 11
consecutive years.

The Sustainability Reports 2020 of Hang Lung are now
available for download at the links below:

Hang
Lung Group

https://www.hanglung.com/en-us/group/media-center/publications/sustainability

Hang
Lung Properties

https://www.hanglung.com/en-us/media-center/publications/sustainability