Remuneration Policy

1. Swire Properties Limited (the “Company”) is committed to providing a fair and competitive staff compensation programme that will attract, motivate, retain and reward employees at all levels.

2. This Remuneration Policy (“Policy”) is designed to support the Company’s strategy and is aligned with the Company’s corporate values.

3. This Policy applies to the Company and its subsidiaries.

A. Key Remuneration Principles

4. This Policy is founded on the following key principles:

a) Total Compensation should be competitive with the market – market competitiveness is assessed by benchmarking against a predetermined target market positioning for comparable jobs on total compensation, including base salary, allowances, bonus and retirement benefits.

b) Differentiation of pay based on individual performance – all staff will have performance goals that are agreed with their direct appraiser each year and their performance will be assessed against these goals and how they measure up to the required competencies for each role. The performance rating will be a key factor in determining their overall pay.

c) Internal equity - the Company ensures that its staff are paid equitably and fairly, in line with the size of the job, their individual skills match and performance, and free from gender bias, racism or other forms of bias.

d) Transparency - all staff will be given honest and comprehensive feedback on their performance and how they are viewed by the Company.

e) Affordability - the Company’s ability to pay will be taken into account in the annual pay review.

f) Bonus – the award of a bonus is made at the Company’s discretion. The amount of bonus awarded each year will vary depending on the Company’s financial performance and individual performance.

g) Retirement benefit –all staff are offered the opportunity to participate in a suitable pension scheme to provide for their retirement. There are a range of schemes applicable depending on the employee’s terms and conditions of employment.

B. Remuneration Review of Executive Directors and Senior Management

5. The Remuneration Committee of the Company (the “Committee”) reviews and approves the remuneration proposals with respect to the executive directors and senior management of the Company, with reference to this Policy and the Board’s corporate goals and objectives.

6. The Committee will consider annually market data and peer comparison based on reports prepared by independent external consultants, which will review and confirm that the remuneration of the Company’s executive directors and senior management is comparable with that paid to equivalent directors and senior executives in peer companies.

7. No directors or senior management of the Company will take part in any discussion about his or her own remuneration.

8. Remuneration of individual directors and senior management by band is disclosed in the Annual Report of the Company.

Adopted by the Board: 8 November 2022