Substantial Shareholders

Substantial Shareholders' Interests in Shares as of December 31, 2016*

Name Number of Shares %
Chan Tan Ching Fen;
         Cole Enterprises Holdings (PTC) Limited;
         Merssion Limited; and Chan Adriel Wenbwo
2,507,987,340 0.63 + deemed interest 
(Note 1)
Hang Lung Group Limited 2,479,654,240 (Note 2) 55.13
First Eagle Investment Management, LLC 243,099,203 5.41

*In accordance with Notices filed by individuals/corporations pursuant to the Securities and Futures Ordinance

Note 1
Merssion Limited (the Trust) held 28,333,100 shares (0.63%), plus its deemed interest of shares held by Hang Lung Group Limited = 55.76%.  Chan Tan Ching Fen (founder of the Trust), Cole Enterprises Holdings (PTC) Limited (trustee of the Trust) and Chan Adriel Wenbwo (discretionary beneficiary of the Trust) have deemed interest in the same parcel of the shares held by the Trust and Hang Lung Group Limited.

Note 2
The following shares are held by subsidiaries of Hang Lung Group Limited, which have already been included in the 2,479,654,240 shares (55.13%) notified by Hang Lung Group Limited:

Name Number of Shares
Prosperland Housing Limited 1,267,608,690
Purotat Limited 354,227,500