SWIRE PACIFIC A(00019) and SWIRE PACIFIC B(00087): Successfully executed accelerated swap transactions.

SWIRE PACIFIC A (00019) and SWIRE PACIFIC B (00087) announced that the company has appointed joint brokers for a potential accelerated equity swap transaction regarding bonds. On September 2, 2026 (prior to the trading period), the company successfully executed the accelerated equity swap transaction. The accelerated equity swap transaction includes a bond buyback and a share placement, involving the company's repurchase of bonds with a total principal amount of HKD 4.689 billion (approximately 99.77% of the total bond principal amount and at a buyback price of 109.08% of the bond principal), as well as the company selling 362.6 million shares of CATHAY PACIFIC AIR at a price of HKD 13.2 per share. Since the total principal amount of bonds exchanged or repurchased and canceled under the accelerated equity swap transaction reaches 90% or more of the originally issued bond principal amount, Swire Pacific Finance (as the bond issuer) may exercise its rights upon conditions pursuant to redeem all remaining outstanding bonds at their principal amount. The company will issue a further announcement at an appropriate time. The group expects to record approximately HKD 1.118 billion in proceeds from the share placement, calculated based on the latest available book value of the group's equity in CATHAY PACIFIC AIR. The overall net proceeds from the accelerated equity swap transaction are expected to be approximately HKD 704 million (including the fair value loss on the bond buyback, but excluding transaction costs). The accelerated equity swap transaction provides the company with a higher certainty on the bond's equity conversion results and accordingly offers certainty to its shareholders. The accelerated equity swap transaction will result in the net sale of 362.6 million CATHAY PACIFIC AIR shares (approximately 5.96% of the total issued CATHAY PACIFIC AIR shares as of the date of this announcement), corresponding to the number of CATHAY PACIFIC AIR shares associated with the bonds repurchased in the accelerated equity swap transaction. The remaining principal amount of outstanding bonds is approximately HKD 11 million. Therefore, the accelerated equity swap transaction will not lead to a further reduction in the company's shareholdings in CATHAY PACIFIC AIR beyond the anticipated reduction during the bond conversion under the conditions. Immediately following the completion of the accelerated equity swap transaction, the company's holding in CATHAY PACIFIC AIR will decrease to 2.381 billion shares of CATHAY PACIFIC AIR, which represents approximately 39.15% of the total issued shares of CATHAY PACIFIC AIR as of the date of this announcement. The accelerated equity swap transaction reinforces the company's balance sheet without causing the reduction of its holdings in CATHAY PACIFIC AIR to exceed the expected levels under the original bond terms.