The board of directors of Sun Hung Kai Properties Limited (the "company") announced that Dr. LEE Shau-kee ("Dr. LEE") has informed the company that he, being advanced in age, will not seek re-election at the annual general meeting of the company to be held in November 2020 and that he will retire as a Non-Executive Director of the company and cease to act as the Vice Chairman of the Board of the company at the AGM; and Mr. LEUNG Kui-king, Donald ("Mr. LEUNG") has also informed the company that he will not seek re-election at the AGM in order to devote more time to his personal endeavours and that he will retire as an Independent Non-Executive Director of the company at the AGM.