SANDS CHINA : Preliminary Announcement of Annual Results for the Year Ended December 31, 2016

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.

金沙中國有限公司

(Incorporated in the Cayman Islands with limited liability)

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FINANCIAL HIGHLIGHTS

CHAIRMAN'S STATEMENT

MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS

DISCLOSURE OF FINANCIAL RESULTS IN MACAO SCOPE OF WORK OF DELOITTE TOUCHE TOHMATSU CORPORATE GOVERNANCE

PUBLICATION OF ANNUAL RESULTS ON THE WEBSITES OF THE STOCK EXCHANGE AND THE COMPANY

PURCHASE, SALE OR REDEMPTION OF THE COMPANY'S LISTED SHARES

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Capitalized terms used but not defined herein shall have the meanings ascribed to them in our 2015 annual report and/or 2016 interim report.

1. FINANCIAL HIGHLIGHTS

   • Net revenues were US$6.65 billion (HK$51.60 billion) for the year ended December 31, 2016, a decrease of 2.4%, compared to US$6.82 billion (HK$52.86 billion) for the year ended December 31, 2015.

   • Operating expenses were US$5.30 billion (HK$41.11 billion) for the year ended December 31, 2016, remaining relatively constant as compared to the year ended December 31, 2015.

   • Adjusted EBITDA for the year ended December 31, 2016 increased 0.9% to US$2.24 billion (HK$17.40 billion), compared to US$2.22 billion (HK$17.23 billion) for the year ended December 31, 2015.

   • Profit for the year ended December 31, 2016 was US$1.22 billion (HK$9.49 billion), a decrease of 16.1%, compared to US$1.46 billion (HK$11.31 billion) for the year ended December 31, 2015.

   Note: The translation of US$ amounts into HK$ amounts or vice versa has been made at the rate of US$1.00 to HK$7.7555 (2015: US$1.00 to HK$7.7508) for the purposes of illustration only.

2. CHAIRMAN'S STATEMENT

   Dear Shareholders,

   On behalf of the Board of Directors of Sands China Ltd., I am pleased to report that we continued to successfully execute our strategic objectives this year. Market conditions in Macao improved meaningfully during the year, and we again delivered a strong set of financial results. We also successfully opened The Parisian Macao, our latest integrated resort on Cotai and another "must- see" destination on Cotai. The Parisian Macao meaningfully enhances our critical mass on Cotai, further extends our industry-leading contributions to Macao's diversification and supports the realization of Macao's long-term development objectives as the leading business and leisure tourism destination in Asia.

   We once again generated industry-leading adjusted EBITDA and profit, while also returning excess capital to Shareholders. The strong balance sheet and cash flow generation of the Company allowed the Board of Directors to declare dividends per share of HK$1.99 in 2016 for a total of over HK$16.0 billion in cash returned to Shareholders for the year.

   The Company generated market-leading adjusted EBITDA of US$2.24 billion with a margin of 33.7%. Net revenues were US$6.65 billion. We were encouraged that our mass gaming revenue saw positive year-on-year growth during the year, and that this growth accelerated through the year to reach 16% growth in the fourth quarter.

   Our mass gaming revenue strength was supported by our ability to drive increased patronage with hotel accommodation, retail shopping experiences and entertainment events. Overall, our gross non-gaming revenue increased in 2016 compared to 2015 with our high-margin retail mall revenue increasing by 6%. In the hotel segment, our occupied suite nights increased 12% benefiting from the addition of 3,000 new suites at The Parisian Macao. We remain far-and-away the industry-leader in Macao's MICE business, hosting nearly 700 MICE events on Cotai, which attracted over 900,000 event attendees to Macao in 2016.

   My original vision for Cotai in Macao was further realized with the opening of The Parisian Macao on September 13, 2016. Sands China has now invested approximately US$13.0 billion to deliver on our promise to help Macao in its economic diversification and its continued evolution into the world's leading business and leisure tourism destination. Our investment includes nearly 13,000 hotel rooms, 2.0 million square feet (approximately 186,000 square meters) of retail-mall offerings and 2.0 million square feet (approximately 186,000 square meters) of MICE capacity. Our scale, the diversity of cash flows and our critical mass of hotel, retail and MICE space allowed us to continue to outperform our competitors during the year and position us well for future growth.

   Our investments in the marketing of Macao and Cotai as a business and leisure tourism destination continue to pay dividends as our Parisian Macao social media program has now exceeded two billion impressions. Based on our customer surveys at the various points of entry into Macao since The Parisian Macao's opening, the most visited casino resort in Macao remains The Venetian Macao, but in second place is The Parisian Macao. Overall, we welcomed nearly 74 million visits to our property portfolio in 2016, an increase of 8% compared to the prior year. We are incredibly proud to help drive increased visitation to Macao and Cotai from across the region and to contribute to Macao's diversification.

   All this allows us to look ahead to the future with confidence. We have a strong organic growth outlook that will continue to benefit from our industry-leading investments, our unmatched scale, the secular growth in Chinese middle-class wealth creation and increasing demand for travel.

   We regard it as a privilege to contribute to Macao's success in realizing its important objectives of diversifying its economy, supporting the growth of local businesses, providing meaningful career development opportunities for its citizens, including through our Sands China Academy, and reaching its full potential as Asia's leading business and leisure tourism destination. We could not have achieved our many successes this year without the hard work and dedication of Sands China's nearly 29,000 team members. I thank them for their efforts and I look forward to their continued contributions in the years ahead.

   Our Sands China business strategy remains straightforward: continue the execution of our Cotai Strip development strategy by leveraging our convention-based integrated resort business model and world-class amenities to contribute to Macao's diversification. This strategy drives Sands China's market-leading revenue and cash flow generation and allows the Company to return excess capital to Shareholders.

   We look forward to sharing the Company's continued success with you and other stakeholders at the upcoming Sands China Annual General Meeting.

   I thank you again for the confidence that you have placed in us.

   Sheldon G. Adelson

   Chairman of the Board and Chief Executive Officer

   February 17, 2017

3. MANAGEMENT DISCUSSION AND ANALYSIS

Our operations consist of The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao, Sands Macao and other operations that support these properties, including our high-speed CotaiJet ferry service operating between Hong Kong and Macao. The following table sets forth data on our existing operations as at December 31, 2016:

Notes:

(i) Sands Cotai Central consists of the Conrad and Holiday Inn tower, the first Sheraton tower, the second Sheraton tower and the St. Regis tower, which opened in April 2012, September 2012, January 2013 and December 2015, respectively.

(ii) Permanent table count as at December 31, 2016.