Swire Properties Limited announced that Ms. ZHU Changlai has been appointed as an Independent Non-Executive Director of the Company with effect from the conclusion of the Company's 2023 Annual General Meeting to be held on 9 May 2023. Ms. Zhu, aged 47, is the founder and chief executive officer of Shanghai Dechang E- commerce Co. Ltd., trading as Chapter Home, a home lifestyle brand in the Chinese Mainland.

She was a consultant and an Executive in Residence at Warburg Pincus Asia LLC, specialising in the consumer retail sector, and a non-executive director of the Southeast Asia Retail Board of IKANO Pte Ltd. from 2021 to 2022. Prior to these roles, she worked for the IKEA Group from 1996 to 2021 and held various positions including global commercial director of IKEA Retail Services AB from 2018 to 2021 and chief executive officer of China of IKEA (China) Investment Co. Ltd. from 2013 to 2018.

Ms. Zhu graduated from East China Normal University in 1995 with a diploma in Foreign Culture. In accordance with the Company's Articles of Association, Ms. Zhu will hold office as a Director until the annual general meeting to be held in 2024 (and will be eligible for election). Thereafter she will retire at the third annual general meeting following her election and will be eligible for re-election.

She has entered into a letter of appointment, which constitutes a service contract, with the Company for a term expiring on the date of the annual general meeting at which she will retire, which will be renewed for a term of three years upon each election or re-election (as the case may be). Ms. Zhu is entitled to the director's fee determined by the Board, currently fixed at the level of HKD 575,000 per annum.