Hang Lung Launches New Strategic Sustainability Framework

HONG KONG,June 24,2019 -- Hang Lung Group Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) have published their online Sustainability Reports 2018,which outlinethe Companies' new strategic sustainability framework,Our Sustainable Future,with clear goals and targets leading towards 2030. The long-term framework,together with the publication of the seventh standalone sustainability reports,reaffirms Hang Lung's unwavering commitment to sustainable development and enhancing value for shareholders and stakeholders.

Hang Lung Group Limited and Hang Lung Properties Limited have recently published their online Sustainability Reports 2018,which outline the Companies’ new strategic sustainability framework,Our Sustainable Future.

Upholding the sustainability principle of Build to Own,Build to Last,Build for Our Future,Hang Lung embraces high standards of corporate governance,customer centricity,service excellence,and social and environmental commitments across all aspects of its business operations. The new framework builds on the solid foundation of existing sustainability achievements and gleans from insights collected from a comprehensive stakeholder engagement exercise undertaken in 2018. It sets out nine focus areas under three pillars of Future of Experience,Future of Space,and Best-in-class Operating Practices,with 11 new targets leading up to 2030.

Mr. Weber Lo,Chief Executive Officer of Hang Lung Group and Hang Lung Properties,said,"At Hang Lung,sustainable development is one of the core values that we uphold. This new sustainability framework will further raise our bar andstrengthen our ability to deliver long-term value in the communities in which we operate."

Key highlights of the strategic sustainability framework,are:

Future of Experience

All properties regularly collaborate with their tenants and customers to drive sustainable changes with measurable impact

All properties,offices and workplaces shall achieve international wellness standards

Future of Space

All existing properties achieve low-impact operations that go beyond industry standards

Avoid 75% of construction waste and 25% reduction of commercial waste going to landfill

A 50% reduction in overall carbon intensity (baseline: 2015)

A 10% reduction in absolute carbon emissions (baseline: 2017)

Best-in-Class Operating Practices

All properties and functions shall have adequate capacity and robust system to monitor,manage and report sustainability impacts regularly

All goods for operational consumption and construction materials shall be sourced with sustainability being taken into consideration

All properties shall strategically engage local communities and create shared values

The Reports also cover major sustainability initiatives and achievements of Hang Lung in 2018. These include issuing the Green Panda Bond of RMB1 billionto finance several of the investment properties under development in mainland China,and the launching of the brand-new Customer Relationship Management program HOUSE 66 in Shanghai and Jinan.

As a constituent of the Hang Seng Corporate Sustainability Index and Hang Seng (Mainland and Hong Kong) Corporate Sustainability Index with an AA rating,Hang Lung Properties has been selected as a member of the Dow Jones Sustainability Asia Pacific Index for two consecutive years and received a three-star performance rating and a Grade A disclosure rating under the Global Real Estate Sustainability Benchmark 2018.

The Sustainability Reports 2018 of Hang Lung Group and Hang Lung Properties are now available for download at www.hanglung.com.

Hang Lung Group

http://www.hanglung.com/SustainabilityReports/2018/HLG/HLG_SR2018_EN.pdf

Hang Lung Properties

http://www.hanglung.com/SustainabilityReports/2018/HLP/HLP_SR2018_EN.pdf

About Hang Lung Properties

Hang Lung Properties Limited (stock code: 00101),a constituent stock of the Hang Seng Index and Hang Seng Corporate Sustainability Indices in Hong Kong,and the Dow Jones Sustainability Asia Pacific Index since 2017,is a leading real estate developer operating in Hong Kong and mainland China. Boasting a diversified portfolio of investment properties in Hong Kong,the Company has progressively branched out into the Mainland since the 1990s,with our distinctive footprint now fully established in Shanghai,Shenyang,Jinan,Wuxi,Tianjin,Dalian,Kunming,Wuhan and Hangzhou,with all the Mainland projects carrying the "66" brand. As Hang Lung's business continues to grow,the Company is set to develop into a highly admired national commercial property developer in China.

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