MAINTAIN

STABILITY

MAXIMISE OPPORTUNITIES

HUTCHISON PORT HOLDINGS TRUST

ANNUAL REPORT 2022

CORPORATE

INFORMATION

TRUSTEE-MANAGER

Hutchison Port Holdings Management Pte. Limited (incorporated in the Republic of Singapore with limited liability)

BOARD OF DIRECTORS

Chairman and Non-executive Director

Mr. FOK Kin Ning, Canning, BA, DFM, FCA (ANZ)

Executive Director

Mr. IP Sing Chi, BA

Non-executive Directors

Ms. Edith SHIH, BSE, MA, MA, EdM, Solicitor,

  FCG (CS, CGP), HKFCG (CS, CGP) (PE) Ms. LEE Tung Wan, Diana, BCom, ACA (ANZ)

Independent Non-executive Director and

Lead Independent Director

Mrs. SNG Sow-Mei (alias POON Sow Mei), BA, PPA(P)

Independent Non-executive Directors

Mr. CHAN Tze Leung, Robert, BSc (Econ), MBA, FHKIOD

Dr. FONG Chi Wai, Alex, BSS, MTM, MSGF, DBA, PhD, FCILT, FHKIOD Mr. Graeme Allan JACK, BCom, CA (ANZ), FHKICPA

Mr. WONG Kwai Lam, BA, PhD

AUDIT COMMITTEE

Mr. Graeme Allan JACK (Chairman)

Mr. CHAN Tze Leung, Robert

Mrs. SNG Sow-Mei (alias POON Sow Mei)

NOMINATING COMMITTEE*

Mr. WONG Kwai Lam (Chairman)

Ms. Edith SHIH

Mrs. SNG Sow-Mei (alias POON Sow Mei)

REMUNERATION COMMITTEE

Mr. CHAN Tze Leung, Robert (Chairman)

Mrs. SNG Sow-Mei (alias POON Sow Mei)

Ms. LEE Tung Wan, Diana

SUSTAINABILITY COMMITTEE*

REGISTERED OFFICE

1 Harbourfront Avenue

#14-07, Keppel Bay Tower

Singapore 098632

Telephone: (65) 6536 5355

Fax: (65) 6536 1360

COMPANY SECRETARY

Ms. WONG Yoen Har

UNIT REGISTRAR AND UNIT TRANSFER OFFICE

Boardroom Corporate & Advisory Services Pte. Ltd.

1 Harbourfront Avenue

#14-07, Keppel Bay Tower

Singapore 098632

Telephone: (65) 6536 5355

Fax: (65) 6536 1360

AUDITOR

PricewaterhouseCoopers LLP 7 Straits View

Level 12, Marina One, East Tower Singapore 018936

Telephone: (65) 6236 3388

Fax: (65) 6236 3300

Partner-in-charge: Mr. SOH Kok Leong

Date of appointment: 9 February 2021

PRINCIPAL BANKERS

DBS Bank Ltd Bank of China Ltd

Industrial and Commercial Bank of China Ltd Standard Chartered Bank (Hong Kong) Ltd

The Hongkong and Shanghai Banking Corporation Ltd

CORPORATE DIRECTORY

Company Registration No.: 201100749W

Website: https://www.hphtrust.com

Ms. Edith SHIH (Chairperson)

Dr. FONG Chi Wai, Alex

Ms. LEE Tung Wan, Diana

* Established on 26 April 2022

ANNUAL REPORT 2022

CONTENTS

Corporate Information

  1. Contents
  2. Trust Profile
  3. Corporate Structure
  4. Portfolio Overview
  1. Letter to Unitholders
  1. Key Events
  1. Corporate Milestones
  1. Operational Review
  1. Financial Review
  1. Board of Directors
  1. Senior Management
  1. Sustainability Report
  1. Investor Relations
  2. Corporate Governance Report
  1. Financial Contents
  1. Statistics of Unitholdings
  1. Notice of Annual General Meeting
  1. Proxy Form
  1. Glossary

01

HUTCHISON PORT HOLDINGS TRUST

TRUST

PROFILE

HPH TRUST

Hutchison Port Holdings Trust ("HPH Trust" or "the Trust") is the first publicly traded container port business trust in the world. It was listed on the Mainboard of the Singapore Exchange ("SGX") in March 2011, and in early 2012 became the first entity to launch dual-currency trading for its units on the SGX.

The mandate of the Trust is principally to invest in, develop, operate and manage deep-water container ports in Guangdong Province, Hong Kong and Macau in China.

HPH Trust operates Hongkong International Terminals ("HIT"), COSCO-HIT Terminals ("COSCO-HIT") and Asia Container Terminals ("ACT") in Hong Kong, and Yantian International Container Terminals ("YANTIAN") and Huizhou International Container Terminals ("HICT") in mainland China. HPH Trust operates 381 berths across 6471 hectares of land. In 2022, the Trust delivered a combined throughput of approximately 22.7 million twenty-foot equivalent units ("TEU").

The core port operations of the Trust are complemented by river port facilities and ancillary services, which aim to provide customers with seamless logistics supply chain solutions for imports and exports. HPH Trust holds economic benefits in two river ports in mainland China ("River Ports Economic Benefits"2): Jiangmen International Container Terminals ("Jiangmen Terminal") and Nanhai International Container Terminals ("Nanhai Terminal"). Collectively, they are known as the "River Ports". HPH Trust also operates ancillary services including container depots, trucking, feeder and shipping agencies via Asia Port Services Limited ("APS"); HPH E.Commerce Limited ("Hutchison Logistics"), a provider of supply chain solutions across air, sea and land networks; and Shenzhen Hutchison Inland Container Depots Co., Limited ("SHICD"), operator of an inland container depot and warehouse in Shenzhen.

THE TRUSTEE-MANAGER

The Trust is managed by Hutchison Port Holdings Management Pte. Limited (the "Trustee-Manager"), an indirect wholly owned subsidiary of CK Hutchison Holdings Limited ("CKHH"). The Trustee-Manager has dual responsibilities in safeguarding the interests of unitholders and managing HPH Trust's businesses. The Board of Directors of the Trustee-Manager consists of individuals with a broad range of commercial experience and expertise in the port industry.

  1. Excludes East Port Phase I which is under development.
  2. The River Ports Economic Benefits represent the economic interest and benefits of the River Ports - including all dividends and any other distributions or other monies payable to Hutchison Port Holdings Limited ("HPH") or any of its subsidiaries in its capacity as a shareholder of the relevant holding company of the River Ports arising from the profits attributable to the business of the River Ports, and all sale or disposal proceeds derived from such businesses, assets, rights and/or liabilities constituting any part of the business of the River Ports as agreed with HPH and any of its subsidiaries.

02

ANNUAL REPORT 2022

CORPORATE

STRUCTURE

UNITHOLDERS

TRUSTEE- MANAGER

Holding of units

Distributions

Acting on behalf of

unitholders and providing

management servicesHPH TRUST

Fees

Ownership and

Dividends/interest income, net of

applicable taxes and expenses, and

shareholder loans

principal repayment of shareholder loans

HIT,

COSCO-HIT

and ACT

100.0%

HIT (Terminals 4,

6, 7 and 9 North)

YANTIAN and HICT

56.4%

YANTIAN

Phases I and II

River

Ports1

50.0%

Jiangmen

Terminal

Portfolio

Ancillary

Services

100.0%

APS

50.0%

COSCO-HIT (Terminal 8 East)

40.0%

ACT

(Terminal 8 West)

51.6%

50.0%

YANTIAN Phase III

and Phase III ExpansionNanhai

Terminal

51.6%

West Port

Phases I and II

39.7%

East Port

Phase I2

41.3%

HICT

100.0%

Hutchison Logistics

86.5%

SHICD

  1. HPH Trust holds River Ports Economic Benefits, but not the shares of the River Ports' holdings companies.
  2. Under development which was established pursuant to the joint venture agreement signed with Shenzhen Yantian Port Group Company Limited in June 2021.

03

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Disclaimer

Hutchison Port Holdings Trust published this content on 20 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 April 2023 07:48:10 UTC.