CK Hutchison : VOLUNTARY ANNOUNCEMENT - 2018 FIRST QUARTER RESULTS OF WIND TRE S.P.A.

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VOLUNTARY ANNOUNCEMENT

2018 FIRST QUARTER RESULTS OF WIND TRE S.P.A.

The board of directors (the "Board") of CK Hutchison Holdings Limited (the "Company" and, together with its subsidiaries, the "Group") has noted that Wind Tre S.p.A. ("Wind Tre", an indirect wholly owned subsidiary of VIP-CKH Luxembourg S.à r.l., a joint venture company equally owned by the Company and VEON Ltd) has announced on its website its unaudited 2018 first quarter results.

Based on the information currently available from Wind Tre, the Board would like to advise that the Group's share of first quarter results of the telecommunications businesses in Italy to be included in the Group's interim results for the six months period ending 30 June 2018 (the "2018 Interim Results") will differ from the 2018 first quarter results as announced by Wind Tre. These differences are noted in the reconciliation below:

Group's share of

(2)The accounting standards require the Group to account for Wind Tre's assets and liabilities at fair value at the formation of Wind Tre. Accordingly, provisions for commitments, onerous contracts and guarantees had been made and a lower valuation had been assigned by the Group to the assets of the telecommunications businesses in Italy as a result of the formation of Wind Tre. These provisions and lower values are required to be reflected in the Group's consolidated financial statements as a result of the applicable accounting standards. Consequently, adjustments to EBITDA and EBIT of the telecommunications businesses in Italy have been made when the Group's 50% interest in Wind Tre is incorporated into the Group's consolidated results.

Shareholders and potential investors of the Company are cautioned not to unduly rely on the unaudited 2018 first quarter results as announced by Wind Tre, as they do not represent the results of the telecommunications businesses in Italy to be included in the Group's 2018 Interim Results. Instead, shareholders and potential investors of the Company should refer to the Group's share of Wind Tre's 2018 first quarter results as set out in the above table to be included in the Group's 2018 Interim Results. Shareholders and potential investors are reminded that the above financial information of the Group are unaudited as of the date of this announcement and are included for reference only. Shareholders and potential investors should exercise caution when dealing in the securities of the Company.

By Order of the Board

Edith Shih

Executive Director and Company Secretary

Hong Kong, 11 May 2018 1

As at the date of this announcement, the Directors of the Company are:

Executive Directors:

• Mr LI Tzar Kuoi, Victor (Chairman and Group Co-Managing Director)

• Mr FOK Kin Ning, Canning (Group Co-Managing Director)

  Non-executive Directors: Mr CHOW Kun Chee, Roland

  Mrs CHOW WOO Mo Fong, Susan Mr LEE Yeh Kwong, Charles

  Mr LEUNG Siu Hon

• Mr Frank John SIXT (Group Finance Director Mr George Colin MAGNUS and Deputy Managing Director)

• Mr IP Tak Chuen, Edmond (Deputy Managing Director)

• Mr KAM Hing Lam

  (Deputy Managing Director)

• Mr LAI Kai Ming, Dominic (Deputy Managing Director)

Ms Edith SHIH

Independent Non-executive Directors: Mr KWOK Tun-li, Stanley

Mr CHENG Hoi Chuen, Vincent

The Hon Sir Michael David KADOORIE Ms LEE Wai Mun, Rose

• Mr William Elkin MOCATTA (Alternate to The Hon Sir Michael David Kadoorie)

• Mr William SHURNIAK

• Mr WONG Chung Hin

Dr WONG Yick-ming, Rosanna

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