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.

Enhancements of Plaza 66, Shanghai

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.

Exterior view of Plaza 66 Pavilion Expansion

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.

Roof Garden opening in Q4 2026 on Level 6 of Plaza 66 mall (artist's impression)
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."

Roof Garden opening in Q4 2026 on Level 6 of Plaza 66 mall (artist's impression)

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

	Phase 1 (Mall and Office Tower 1)	Phase 2 (Office Tower 2)	Phase 3 (Pavilion Expansion)
Opening year	2001	2006	September 2026
Area	Existing space Retail Space: 53,700 sq. m. Office Tower: ~85,000 sq. m.	Existing space Office Tower: ~75,000 sq. m.	Existing space --
	Enhancements Roof Garden: 1,080 sq. m.	Enhancements --	Enhancements Retail Space: ~4,300 sq. m. Art Pavilion: 645 sq. m. Public Space: ~3,205 sq. m.
Number of retail brands	Over 120	--	27

• Retail Space: 53,700 sq. m.
• Office Tower:
  ~85,000 sq. m.

• Office Tower:
  ~75,000 sq. m.

--

• Roof Garden: 1,080 sq. m.

--

• Retail Space: ~4,300 sq. m.
• Art Pavilion: 645 sq. m.
• Public Space: ~3,205 sq. m.

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.

Hashtag: #HangLungGroup

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.

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Art Pavilion in Plaza 66 debuted with Burberry

• Chubb Care Critical Illness Series offers comprehensive protection for healthy individuals, cancer survivors and individualswith cardiovascular disease or diabetes histories, helping address a significant coverage gap in Hong Kong.
• Market-firstflexible payout options and unified cross-border premiums offer advanced financial support and post-recovery care.

HONG KONG SAR – Media OutReach Newswire – 13 August 2026 - Chubb Life Hong Kong today announced the launch of the "Chubb Care Critical Illness Series", a flagship suite of health solutions featuring market-first flexible payout options and unified cross-border premiums, designed to give customers greater flexibility and financial control at every stage of their health journey. The series aims to address a significant coverage gap in Hong Kong by offering comprehensive protection for customers across a range of health backgrounds,including those with a history of critical illness.

Chubb Life Hong Kong Launches Critical Illness Plans with Market-First Features and Broader Protection for Customers with Diverse Health Needs

With private healthcare costs in Hong Kong ranked the second highest in the world¹, continuous critical illness protection against recurring or subsequent major illnesses remains increasingly crucial. At the same time, individuals with a history of critical illness often face application rejections, policy exclusions or higher premiums. Chubb Care Critical Illness Series addresses these varied health profiles through four distinct options:

• Chubb Every Care Critical Illness Insurance Plan ("Chubb Every Care"): Designed for healthy individuals, with coverage for 146 illnesses and up to 800% protection².
• Chubb Cancer / Cardio / Diabetes Care Critical Illness Insurance Plan ("Chubb Cancer/ Cardio/ Diabetes Care"): Designed for cancer survivors, individuals with cardiovascular disease and those with well-controlled diabetes respectively with a simplified underwriting approach, offering up to 300% protection³ for up to 128 illnesses⁴.

The series is designed for customers with different health needs and encompasses groundbreaking first-in-market⁵ features including:

• Flexible payout options: Offers a standby cash option for an additional 100% of the sum assured, or an ongoing protection option for continuing coverage up to 5 additional claims under Chubb Every Care.
• Reimbursement for out-of-pocket items⁶: Covers eligible self-financed drugs and/or privately purchased medical items⁷ for cancer, heart attack⁷, and stroke⁷.
• Post-recovery & advanced care⁶: Delivers extra 20% of the Sum Assured for appearance restoration and side-effects resulting from cancer and its treatments, plus an additional 20% of the Sum Assured if a condition progresses to advanced stage cancer, severe heart attack⁷ or severe stroke⁷.

To support customers residing in both Mainland China and Hong Kong, the series also features unified premiums for Hong Kong and Chinese Mainland customers and recognizes health reports from designated mainland hospitals. Other key benefits include a simplified underwriting process, an exceptional leverage ratio and one-stop dedicated medical case management team led by a family doctor⁸.

Alex Wong, Chief Customer Proposition Officer of Chubb Life Hong Kong, said: "Many individuals who have recovered from a critical illness may find themselves without insurance protection after their first diagnosis, leaving them financially exposed if the illness returns. With the launch of Chubb Care Critical Illness Series, we are helping to address this uncertainty by giving customers greater choice and practical support at every stage of their health journey, so they and their families can navigate the future with confidence. Chubb Life Hong Kong is committed to delivering forward-looking health solutions that respond directly to our customers' evolving needs."

For more information about Chubb Care Critical Illness Series, please refer to: https://www.chubb.com/hk-en/personal/chubb-every-care-critical-illness-insurance-plan-series.html.

This article is intended for general reference only and should not be regarded as professional advice, recommendation and does not form part of the policy. This article should be read along with other materials which cover more product information. Such materials include, but not limited to, product brochures setting out key product risks, policy provisions that contain the detailed terms and conditions, benefit illustrations (if any), policy documents and other relevant promotional or marketing materials, which are all available upon request. You might also consider seeking independent professional advice if needed. This article is intended to be displayed in Hong Kong only and does not construe as an offer to sell or solicitation to buy or provision of any insurance products outside Hong Kong. The above plan is a standalone policy and may be purchased independently without bundling with other insurance products.

Notes:

1. The SIP Health Cost Index Global Ranking – 2025: https://www.sip.ch/service/sip-health-cost-index-2025/
2. Assume that payout for Minor Illness Benefit has reached 90% of the Sum Assured; Protection Revival Benefit and Extra Coverage Benefit have been paid with the Major Illness Benefit; Ongoing Protection Option was selected for the payment of Major Illness Benefit; Multiple Protection Major Illness Benefit has been paid five times; and the Out-of-Pocket Items Benefit, Appearance Care Benefit, and Embrace Life Benefit have all been paid out at respective maximum benefit payable.
3. Assume that payout for Minor Illness Benefit has reached 90% of the Sum Assured; Protection Revival Benefit has been paid with the Major Illness Benefit; Multiple Protection Major Illness Benefit has been paid; and the Out-of-Pocket Items Benefit, Appearance Care Benefit, and Embrace Life Benefit have all been paid out at respective maximum benefit payable.
4. Chubb Cardio Care Critical Illness Insurance Plan provides coverage for 43 Minor Illnesses and Major Illnesses, while Chubb Cancer / Diabetes Care Critical Illness Insurance Plan provides coverage for 128 Minor Illnesses and Major Illnesses.
5. It is based on a comparison with other participating critical illness protection plans offered by Composite and Long-Term Businesses as identified in the Register of Authorized Insurers by Insurance Authority as of 22 May 2026.
6. Upon our assessment that all relevant reports have been submitted to our satisfaction, the Out-of-Pocket Items Benefit, Appearance Care Benefit, Embrace Life Benefit and Multiple Protection Major Illness Benefit respectively will be unlocked from the corresponding Policy Anniversary. Please refer to the product brochure of respective insurance plan for details.
7. Subject to the terms and conditions. It is not applicable to Chubb Cardio Care Critical Illness Insurance Plan. Please refer to the product brochure of respective insurance plan for details.
8. Please refer to the "Chubb Care Critical Illness Series – Value-added Services Leaflet" for details and the applicable terms and conditions of the related services.

Appendix

About Chubb Care Critical Illness Series

• Product Nature: Critical illness protection insurance series (with savings element)
• Target Segments:
• Chubb Every Care Critical Illness Insurance Plan ("Chubb Every Care"): Healthy individuals
• Chubb Cancer / Cardio / Diabetes Care Critical Illness Insurance Plan ("Chubb Cancer/ Cardio/ Diabetes Care"): Customers with medical histories (i.e. cancer, cardiovascular disease and diabetes histories)
• Four plan options under the series:

Chubb Every Care Critical Illness Insurance Plan

Maximum 800% of the Total Benefit Payable1
Core Protection	Additional Protection	Waivers of Premium
[First-in-market2] Two flexible options for receiving Major Illness Benefit	Extra 50% protection within the first 10 Policy Years	Waive Premium for 24 months when diagnosed with Minor Illness
Coverage for 146 Major and Minor Illnesses, including Angelman Syndrome and Tourette's Syndrome	[First-in-market2] Out-of-Pocket Items Benefit: Reimbursement for Self-Financed Drugs and/or Privately Purchased Medical Items up to 20% of the Sum Assured or USD 62,500 (whichever is lower)	Waive all future Premiums when diagnosed with Major Illness
Protection Revival Benefit: Major Illness Benefit or Death Benefit can be restored to 100% of the Sum Assured after Minor Illness claims	[First-in-market2] Appearance Care Benefit: Extra 20% of the Sum Assured for appearance restoration and side-effect resulting from Cancer and its treatments	Waive all future Premiums on Death of Insured's Parent/Guardian, until the Insured reaches Age 25
Multiple Protection Major Illness Benefit: Up to five additional claims for Cancer, Heart Attack, and Stroke	[First-in-market2] Embrace Life Benefit: Extra 20% of the Sum Assured for Advanced Stage Cancer, Severe Heart Attack or Severe Stroke
Dedicated case management team to provide one-stop value-added services

Major Illness Benefit or Death Benefit can be restored to 100% of the Sum Assured after Minor Illness claims

Chubb Cancer/Cardio/Diabetes Care Critical Illness Insurance Plan

Maximum 300% of the Total Benefit Payable3
Core Protection	Additional Protection	Health Management Incentive
Coverage for up to 128 Major and Minor Illnesses4,6	[First-in-market2] Out-of-Pocket Items Benefit5: Reimbursement for Self-Financed Drugs and/or Privately Purchased Medical Items7 up to 20% of the Sum Assured6 or USD 62,500 (whichever is lower)	[First-in-market2] Coverage Unlock Privilege8: If the Insured's health condition meets the required criteria, benefits can be unlocked without additional premiums
Protection Revival Benefit: Major Illness Benefit can be restored to 100% of the Sum Assured after Minor Illness claims	[First-in-market2] Appearance Care Benefit5: Extra 20% of the Sum Assured6 for appearance restoration and side-effect resulting from Cancer and its treatments	Waivers of Premium
		Waive premiums for 24 months when diagnosed with Minor Illness
Multiple Protection Major Illness Benefit5: Up to one extra claim with 50% of the Sum Assured	[First-in-market2] Embrace Life Benefit5: Extra 20% of the Sum Assured6 for Advanced Stage Cancer, Severe Heart Attack7 or Severe Stroke7	Waive all future premiums when diagnosed with Major Illness
Dedicated case management team to provide one-stop value-added services

Major Illness Benefit can be restored to 100% of the Sum Assured after Minor Illness claims

Notes:

1. Assume that payout for Minor Illness Benefit has reached 90% of the Sum Assured; Protection Revival Benefit and Extra Coverage Benefit have been paid with the Major Illness Benefit; Ongoing Protection Option was selected for the payment of Major Illness Benefit; Multiple Protection Major Illness Benefit has been paid five times; and the Out-of-Pocket Items Benefit, Appearance Care Benefit, and Embrace Life Benefit have all been paid out at respective maximum benefit payable.
2. It is based on a comparison with other participating critical illness protection plans offered by Composite and Long-Term Businesses as identified in the Register of Authorized Insurers by Insurance Authority as of 22 May 2026.
3. Assume that payout for Minor Illness Benefit has reached 90% of the Sum Assured; Protection Revival Benefit has been paid with the Major Illness Benefit; Multiple Protection Major Illness Benefit has been paid; and the Out-of-Pocket Items Benefit, Appearance Care Benefit, and Embrace Life Benefit have all been paid out at respective maximum benefit payable.
4. Chubb Cardio Care Critical Illness Insurance Plan provides coverage for 43 Minor Illnesses and Major Illnesses, while Chubb Cancer / Diabetes Care Critical Illness Insurance Plan provides coverage for 128 Minor Illnesses and Major Illnesses.
5. Subject to the provisions of Coverage Unlock Privilege.
6. For Chubb Cancer Care Critical Illness Insurance Plan, this is subject to Cancer Lien. Please refer to the product brochure of respective insurance plan for details.
7. Subject to the terms and conditions. It is not applicable to Chubb Cardio Care Critical Illness Insurance Plan. Please refer to the product brochure of respective insurance plan for details.
8. For the avoidance of doubt, Coverage Unlock Privilege and any unlocked benefits are subject to the terms and conditions of the Policy, including provisions relating to lapse and reinstatement.

Hashtag: #ChubbLife

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

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 45,000 people worldwide. Additional information can be found at: www.chubb.com.

** This press release is distributed by Media OutReach Newswire through automated distribution system, for which the client assumes full responsibility. **