Plaza 66 Unveils Major Upgrade with 6,749 sq. m. of New and Reconfigured Space

Phase 3 Pavilion Expansion 100% Committed, Opening in September 2026

HONG KONG SAR and SHANGHAI, CHINA – Media OutReach Newswire – 12 August 2026 – Hang Lung Properties Limited ("Hang Lung" or the "Company"; SEHK stock code: 00101) today announced the upgrade of Plaza 66 in Shanghai, adding and reconfiguring a total of 6,749 square meters of commercial and community space to anchor its position as a leading, next generation, world-class luxury retail destination in the Chinese Mainland. As part of the enhancements, the Pavilion Expansion , i.e. Phase 3 of Plaza 66,will officially open in September 2026, adding approximately 4,300 square meters of retail space and a 645-square-meter Art Pavilion , an open-air leisure and community area. In addition, the mall will introduce a 1,080-square-meter Roof Garden ,and enlarge its exclusive VIC Lounge by 65% to 724 square meters. Together with an expanded dining offering, these enhancements will further attract affluent customers seeking arrays of sophisticated lifestyle experiences.

The Pavilion Expansion has already achieved full commitment. Building on the mall's existing portfolio of flagship maisons from leading international luxury brands, the project will introduce 27 new brands, including first-in-market and concept stores from some of the world's most prestigious names (see Appendix for details). The expansion will further strengthen the mall's luxury retail offering while introducing a new curation of premium dining concepts.

Plaza 66 is further enriching its placemaking and community-focused spaces and experiences:

• Art Pavilion (near the intersection of Nanyang Road and North Shaanxi Road): An open-air landscaped sanctuary designed for leisure and community engagement.
• Roof Garden (Level 6 of the mall): An urban resort-inspired placemaking venue scheduled to open in Q4 2026.
• VIC Lounge (relocating to Level 5 of the mall): The expanded lounge, scheduled to open in Q1 2027, will feature additional outdoor space, enhancing brand experiences, bespoke hospitality, and its positioning as a diverse lifestyle partner.
• Enhanced Dining Portfolio (across the mall and the Pavilion): Approximately 20 restaurants are being rolled out, ranging from Michelin-starred establishments to Shanghai first-to-market concepts.

Ms. Janice Cheung, Director – Mainland Business Operation of Hang Lung Properties , said:"This year marks the 66^th anniversary of Hang Lung and the 25^th anniversary of Plaza 66. Over the years, Plaza 66 has continuously upgraded its retail offering and tenant mix, enriching its ecosystem of refined luxury experiences to meet evolving market demand. Our latest advancements address strong interest from leading international brands while curating novel experiences that blend emotional engagement with authentic cultural resonance. The project will further reinforce Plaza 66's luxury retail leadership in the Chinese Mainland and on West Nanjing Road, support Shanghai's development as an international consumption center, and meet the expectations of our new generation of discerning customers."

Looking ahead, Hang Lung will continue to optimize its retail and spatial offerings across its portfolio, leveraging the success of Plaza 66 to tailor sophisticated lifestyle experiences that integrate commerce, culture, and community.


Appendix: Overview of the Plaza 66 Development



Appendix: Brands at the Plaza 66 Pavilion Expansion

1. B1ock (Featuring Shanghai's first CAFÉ ASTIER DE VILLATTE and B1OCK GALLERY contemporary art gallery)
2. Balmain
3. BegL
4. Berluti
5. Borsalino (First official boutique in Greater China)
6. Brunello Cucinelli (First flagship store in Chinese Mainland)
7. Crave
8. Dunhill
9. Huawei (World's first flagship store featuring the brand's latest premium retail concept)
10. Hublot (Exclusive flagship store in China)
11. John Lobb
12. La Moda
13. Messika (First store in Greater China featuring the brand's latest concept)
14. Montblanc
15. NUITS (Michelin Guide Recommended)
16. Piaget
17. Santa Maria Novella (First directly operated boutique in China)
18. Somsak Thai Fan (First store in China)
19. Thom Browne (New Shanghai flagship store)
20. Tod's
21. WooYoungMi (First boutique in Shanghai)
22. Xingrong Sichuan Bistro (First store in China)
23. Zegna

The remaining four brands will be announced later.




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https://www.hanglung.com

The issuer is solely responsible for the content of this announcement.

About Hang Lung Properties

Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong and Shanghai, the Company manages a portfolio of over 3.6 million square meters of retail, office, residential, and hotel properties across Hong Kong and the Chinese Mainland.

The Company's diverse portfolio in Hong Kong includes office towers and malls in prime districts, as well as luxury residential developments in prestigious areas. In the Chinese Mainland, under the signature "66" brand, the Company's mixed-use and retail developments are regarded as premium landmarks, strategically located in the hearts of key cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan, and Hangzhou.

The Company is recognized for pioneering sustainability in the real estate industry, with an MSCI ESG rating of AA and inclusion on CDP "A List" for Climate Change. The Company powers 90% of its operating properties in the Chinese Mainland with renewable energy, with a net-zero commitment by 2050.

At Hang Lung Properties – We Do It Well.

For more information, please visit www.hanglung.com .

About Plaza 66, Shanghai

Plaza 66 Shanghai is one of China's most prestigious luxury retail destinations and an iconic landmark in Shanghai. Strategically located in the heart of Nanjing West Road, the complex comprises a world-class luxury shopping mall and two Grade A office towers, with a total gross floor area of over 210,000 square meters.

The mall is home to over 100 internationally renowned luxury fashion brands and premium dining brands. The two office towers, rising 66 and 48 storeys respectively, accommodate approximately 100 multinational corporations and leading domestic enterprises across the financial services, professional services and consumer sectors. The ongoing expansion of Plaza 66, Shanghai, includes a standalone low-rise extension that will increase retail area by approximately 13%, creating an even more diverse and elevated experience for visitors.

Powered by renewable energy, Plaza 66 Shanghai has earned Platinum certification under the U.S. Green Building Council's LEED v4.0 Operations and Maintenance: Existing Buildings rating system, as well as Platinum certification under the International WELL Building Institute's WELL Core V2 standard. The development is also a member of the prestigious Les Clefs d'Or international concierge network.