The board of directors of Swire Pacific Limited announced that CHU, Kwok Leung Ivan has resigned as an executive director and ZHANG, Zhuoping has been appointed as an executive director, such resignation and appointment to take effect on 14th April 2020. Mr. CHU, Kwok Leung Ivan has confirmed that he is not aware of any matter relating to his resignation which needs to be brought to the attention of the shareholders of the Company. He has also confirmed that his resignation is due to his retirement and that he is not aware of any disagreement with the Board. The Board would like to thank Mr. CHU, Kwok Leung Ivan for his valuable contributions and wise counsel as a director of the Company and offers its best wishes to him. In August 2019, Mr. ZHANG, Zhuoping entered into an agreement with John Swire & Sons (H.K.) Limited ("JSSHK") to provide a strategic consultation service to JSSHK. This agreement will terminate on Mr. ZHANG, Zhuoping becoming a director of the Company.