SANDS CHINA : Inside Information – Results of our Controlling Shareholder, Las Vegas Sands Corp., for the Fiscal Second Quarter Ended June 30, 2016

bd5884c0-606a-433a-ad81-45b72bbef932.pdf

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

SANDS CHINA LTD.

金沙中國有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1928) INSIDE INFORMATION RESULTS OF OUR CONTROLLING SHAREHOLDER, LAS VEGAS SANDS CORP., FOR THE FISCAL SECOND QUARTER ENDED JUNE 30, 2016

This announcement is issued pursuant to Part XIVA of the Securities and Futures Ordinance and Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

On or about July 26, 2016 (4 a.m. Hong Kong time), our controlling shareholder, Las Vegas Sands Corp. ("LVS"), announced its financial results for its fiscal second quarter ended June 30, 2016.

This announcement is issued by Sands China Ltd. ("SCL" or our "Company" or "Sands China") pursuant to Part XIVA of the Securities and Futures Ordinance and Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Our Company's controlling shareholder, LVS, is a company listed on the New York Stock Exchange (the "NYSE") in the United States. As at the date of this announcement, LVS beneficially owns approximately 70.11% of the issued and outstanding share capital of our Company.

LVS files quarterly and annual reports, including quarterly and annual financial information and certain operating statistics under Form 10-Q and Form 10-K, respectively, with the United States Securities and Exchange Commission (the "SEC"), in accordance with the ongoing disclosure obligations applicable to a publicly traded NYSE-listed company. Such filings include segment financial information about the Macao operations of LVS, which Macao operations are owned by our Company, and the filings are available in the public domain.

LVS has, on or about July 26, 2016 (4 a.m. Hong Kong time), announced its financial results for the fiscal second quarter ended June 30, 2016 (the "Quarterly Financial Results"), held its second quarter 2016 Earnings Conference Call (the "Earnings Call") and posted a second quarter results chart deck on its website (the "Chart Deck"). If you wish to review the Quarterly Financial Results prepared by LVS, which were filed with the SEC, please visit http://s1.q4cdn.com/133622603/files/doc_financials/2016/Q2/Q216-Earnings-Release-vFinal.pdf or https://www.sec.gov/Archives/edgar/data/1300514/000095014216004136/eh1600808_ex9901.htm. If you wish to review the Chart Deck, please visit http://s1.q4cdn.com/133622603/files/doc_ financials/2016/Q2/LVS-2Q16-Earnings-Deck-vFinal.pdf.

The financial results of LVS and its consolidated subsidiaries, including those contained in the Quarterly Financial Results, the Earnings Call and the Chart Deck have been prepared in accordance with the generally accepted accounting principles of the United States ("US GAAP"), which are different from the International Financial Reporting Standards ("IFRS") that we are subject to when preparing and presenting our stand-alone financial results and related financial information. As such, the financial results and related information set forth in the Quarterly Financial Results, the Earnings Call and the Chart Deck are not directly comparable to the financial results and related financial information that our Company discloses as a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. In particular, Average Daily Rate ("ADR") and Revenue Per Available Room ("RevPAR") as presented in the Quarterly Financial Results, the Earnings Call and the Chart Deck are based on gross room revenues as reported under US GAAP, which include associated promotional allowances within room revenues. Under US GAAP, promotional allowances are then deducted from total gross revenues in presenting net revenues. Under IFRS, room revenues exclude such promotional allowances. Our shareholders and potential investors in our ordinary shares are advised that the consolidated financial results and related financial information set forth in the Quarterly Financial Results, the Earnings Call and the Chart Deck with respect to our Company's operating results have not been prepared or presented by our Company, and there is no indication or assurance from our Company that the financial results and related financial information of our Company will be the same as that presented in the Quarterly Financial Results, the Earnings Call and the Chart Deck.

To ensure that all shareholders of and potential investors in our Company's ordinary shares have equal and timely access to the information pertaining to our Company, set forth below are extracts and key highlights of the financial results and related financial information published by LVS in the Quarterly Financial Results and the Earnings Call that relate to our Company and our operations in Macao:

QUARTERLY FINANCIAL RESULTS EXTRACTS Second Quarter Overview

Mr. Sheldon G. Adelson, chairman and chief executive officer of LVS, said, "The operating environment in Macao remained challenging during the quarter, but we do see signs of stabilization, particularly in the mass market. Our mass gaming revenues in the month of June 2016 increased versus the same month in 2015, the first year-on-year monthly mass gaming growth we have experienced in nearly two years. Our focus on the higher margin mass and non-gaming segments and the geographic diversification of our cash flows enabled us (LVS) to deliver almost US$400 million of net income and US$955 million of consolidated adjusted property EBITDA during the quarter. We remain steadfast in our focus on the consistent execution of our proven global growth strategy, which leverages the power of our unique convention-based integrated resort business model.

Our convention-based integrated resort business model appeals to the broadest set of customers, generates the most diversified set of cash flows and delivers the industry's highest revenue and profit from non-gaming segments, while bringing unsurpassed economic and diversification benefits to the regions in which we operate. We remain confident in our ability to further extend our global leadership position and deliver strong growth in the future.

The prudent management of our cash flow, including the ability to continue the return of capital to shareholders while maintaining a strong balance sheet and ample liquidity to invest in future growth opportunities, remains a cornerstone of our strategy."

Mr. Adelson added, "In Macao, notwithstanding the difficult operating environment, we delivered SCL hold-normalized adjusted property EBITDA of US$495.7 million during the quarter. We remain confident that our market-leading Cotai Strip properties, which will be complemented later this year by The Parisian Macao, targeted to open on September 13, 2016, about seven weeks from today, will continue to provide the economic benefits of diversification to Macao, help attract greater numbers of business and leisure travelers, and provide our company with an outstanding and diversified platform for growth in the years ahead."

Sands China Ltd. Consolidated Financial Results

On a US GAAP basis, total net revenues for Sands China decreased 16.4% to US$1.48 billion in the second quarter of 2016, compared to US$1.77 billion in the second quarter of 2015. Net income for SCL decreased 39.0% to US$237.0 million in the second quarter of 2016, compared to US$388.7 million in the second quarter of 2015. SCL adjusted property EBITDA was US$487.7 million, while hold-normalized adjusted property EBITDA was US$495.7 million.

The Venetian Macao Second Quarter Operating Results

Despite the softer gaming market in Macao, The Venetian Macao continued to enjoy market-leading visitation and financial performance. The property generated revenue of US$666.1 million and adjusted property EBITDA of US$244.4 million in the second quarter with an adjusted property EBITDA margin of 36.7%. Non-Rolling Chip drop was US$1.66 billion for the quarter, with a Non-Rolling Chip win percentage of 24.8%. Rolling Chip volume during the quarter decreased 10.0% to US$6.87 billion. Rolling Chip win percentage was 2.73% in the quarter, below the 3.07% experienced in the prior-year quarter. Slot handle was US$979.3 million.

The following table summarizes the key operating results for The Venetian Macao for the second quarter of 2016 compared to the second quarter of 2015:

The Venetian Macao Operations Three Months Ended June 30,

Casino	$ 568.5	$ 633.6	$ (65.1)	-10.3%
Rooms	45.0	51.0	(6.0)	-11.8%
Food and Beverage	20.9	19.7	1.2	6.1%
Mall	51.3	48.5	2.8	5.8%
Convention, Retail and Other	17.5	21.6	(4.1)	-19.0%
Less - Promotional Allowances	(37.1)	(34.9)	(2.2)	-6.3%
Net Revenues	$ 666.1	$ 739.5	$ (73.4)	-9.9%
Adjusted Property EBITDA	$ 244.4	$ 255.0	$ (10.6)	-4.2%
EBITDA Margin %	36.7%	34.5%	2.2 pts
Gaming Statistics
(In US$ millions)
Rolling Chip Volume	$ 6,868.5	$ 7,632.9	$ (764.4)	-10.0%
Rolling Chip Win %(1)	2.73%	3.07%	-0.34 pts
Non-Rolling Chip Drop	$ 1,657.4	$ 1,677.0	$ (19.6)	-1.2%
Non-Rolling Chip Win %	24.8%	26.0%	-1.2 pts
Slot Handle	$ 979.3	$ 973.2	$ 6.1	0.6%
Slot Hold %	4.6%	4.9%	-0.3 pts
Hotel Statistics
Occupancy %	81.0%	82.2%	-1.2 pts
Average Daily Rate (ADR)	$ 212	$ 239	$ (27)	-11.3%
Revenue per Available Room (RevPAR)	$ 172	$ 196	$ (24)	-12.2%

(In US$ millions) 2016 2015 $ Change Change Revenues:

(1) This compares to our expected Rolling Chip win percentage of 2.7% to 3.0% (calculated before discounts and commissions).