2018 Final Result Presentation and Corporate Update

October 2018

1. Group Overview 2. Property Operations Update 3. 2018 Final Result Highlights

Appendices I. Summary of Properties in HK & London II. Summary of Properties in the PRC III. Hotel and Restaurants Operations IV. Media and Entertainment Operations V. Summary Financials

The Group was founded by Mr. Lim Por-Yen who migrated from Guangdong in 1930’s and started business as a garment Diversified into Hong Kong manufacturer after the war property development through Lai Sun Development Company Limited since the 1980’s Expanded into PRC property development, hotel, media and entertainment businesses since the 1980’s

Owns a portfolio of quality commercial, retail Actively involved in hospitality, and residential media and entertainment developments in Hong businesses Kong and the PRC

Dr. Lam Kin Ngok, Peter

. Standing Committee Member of the 13th CPPCC National Committee . Doctorate of the Academy honoris causa awarded by The HK Academy for Performing Arts . Chairman of Hong Kong Tourism Board . Chairman of HK Chamber of Films Limited . Member of Hong Kong Trade Development Council . Honorary Chairman of Motion Picture Industry Association Limited . Extensive experience in property development & investment, hospitality and media & entertainment businesses

# The Lam Family Group Market Capitalisation : HK$18.2 billion 45.53%* (42.37%**) Lai Sun Garment (International) Limited (“LSG”) Market Capitalisation# HK$4.4 billion Investment Holding HK Stock Code: 191 Total Assets: HK$50.7 billion

56.18%* (48.04%**) Lai Sun Development Company Limited (“LSD”) # HK$8.1 billion Property Development & investment in HK & Overseas Market Capitalisation Hotel Management & Hospitality HK Stock Code: 488 Total Assets: HK$46.7 billion 77.76%* (38.38%**)

eSun Holdings Limited (“eSun”) Market Capitalisation# HK$1.9 billion Media & Entertainment and Cinema Operations in HK and the PRC HK Stock Code: 571 Total Assets: HK$32.0 billion

67.56%* (51.09%**) 50.60%* (47.87%**)

Media Asia Group Holdings Limited Lai Fung Holdings Limited (“LFH”) Media and Entertainment Property Development & investment in the PRC HK Stock Code: 8075 HK Stock Code: 1125

Market Capitalisation#: Total Assets: Market Capitalisation#: Total Assets: HK$0.2 billion HK$1.2 billion HK$3.6 billion HK$28.2 billion

*Latest shareholding includes interests held by certain directors at LSD and eSun levels. LSG’s corporate interest in LSD is 56.10% and LSD’s corporate interest in eSun is 77.38% **Shareholding as at 31 July 2012 includes interests held by certain directors at LSD and eSun levels # As at 31 July 2018

. Further accretion of interest subject to the “creeper Strengthen  Group consolidated provision” where applicable balance sheet  Deferred tax written back in 31 July 2012 . Addition of new rental properties in the pipeline to strengthen NAV further

 Closed a number of fund raising/refinancing transactions Raise financing . Continue to optimise funding structure  Raised a total of HK$15.4bn up to July 2014

 LFH – conditional waiver approved; could JV with other Lai Sun group companies . HK – actively participating a number of tender  Successful tender/auction processes - HK: Alto Residences, Hong Kong Ocean Park Marriott Hotel, 93 Pau Chung Street, . London – planning consent being granted by the City Monti and Novi Build pipeline of London’s Planning and Transportation Committee - London: 107 Leadenhall, 100 Leadenhall and 106 Leadenhall . PRC – continually reviewing opportunities in - PRC: Hengqin Novotown (80/20 between LFH and eSun), Shanghai Wuli Bridge Shanghai, Guangzhou, Zhongshan and Hengqin project

 Growing rental income . Attributable rental GFA to be added in the next year  Guangzhou Lai Fung Tower added to the rental portfolio Rental-focused or two  Bought out minorities in SHHK Plaza, GZMF Plaza, Northgate Plaza and SHMF Plaza company ‒ HK : Ocean Park Marriott Hotel (c.366,000 sq.ft.)  Soft-opening of Hong Kong Ocean Park Marriott Hotel on 29 Oct 2018 ‒ PRC : c.2.5 million sq.ft.  Redevelopment of Northgate Plaza I, Northgate Plaza II and Hui Gong Building

Net Asset Value (in HK$’million) LSD LSG 31,159

26,600 24,358 Financial consolidation 22,663 20,775 19,128 19,837 completed 18,037 16,358 16,453  Concentrate asset base 13,796 12,576 11,959* 11,035  Stake accretion at steep 9,027 discount to book value 6,739** creating gains to strengthen balance sheet further 31 Jul 31 Jul 31 Jul 31 Jul 31 Jul 31 Jul 31 Jul 31 July 31 July 31 July 31 July 31 July 31 July 31 Jul 31 Jul 31 July 2011 2012 2013 2014 2015 2016 2017 2018 2011 2012 2013 2014 2015 2016 2017 2018

Deferred tax on property revaluation gains written back for LSG and LSD for the year ended 31 July 2012 Steady rental income growth strengthened NAV further

Further accretion of interests at a discount may or may not occur and subject to the “creeper provision” under the Takeovers Code where applicable

*As reported. The restated amount reflecting the adoption of certain accounting policies in 2012 was HK$13,464 million ** As reported. The restated amount reflecting the adoption of certain accounting policies in 2012 was HK$7,590 million

Cumulative Fund Raising (in HK$’million) Oversubscription 2,200 3,000 6,550 9,280 11,400 13,649 13,729 13,939 14,568 15,377 (times) 809 LSG – CNY guaranteed notes**** 4.8

# # 1,940 1,940 LSD loan for TKO site 2.0 Total funds raised amounted 2,120 2,120 2,120 eSun – CNY guaranteed notes**** 1.7 Closed 809 809 to over HK$15.4 billion* 210 210 LSG – rights issue 80 210 across the Group 80 80 80 MAGHL – share placement 2,120 2,249 2,249 2,249 2,249 2,249 LFH – CNY senior notes** 3.6

3,550 3,550 3,550 3,550 3,550 3,550 3,550 Announced LFH – syndicated loan 1.5

3,550 Announced 2,730 2,730 2,730 2,730 2,730 2,730 2,730 LSD – US$ guaranteed notes*** 10.0

2,200 2,200 2,200 2,200 2,200 2,200 2,200 2,200 2,200 LSD – syndicated loan 2.8 2,200 LSG – club loan 800 800 800 800 800 800 800 800 800

Oct 2012 Nov 2012 Dec 2012 Jan 2013 Mar 2013 Apr2013 Jan 2014 Feb 2014 Jun 2014 July 2014

* Excluding proceeds of HK$5,809.1 million from over-subscription of rights issues, which was refunded to subscribers in February 2014 # Due to a smaller potion of land cost being refinanced ** CNY1,800 million (HK$2,249m equivalent) *** US$350m (HK$2,730m equivalent) **** CNY650 million (HK$809m equivalent)

 Site area: 229,300 sq.ft.  Development GFA: 573,300 sq.ft. - 458,900 sq. ft. for residential use - 114,400 sq.ft. for commercial use  Usage : residential and commercial  605 residential units  Occupation Permit being issued in May 2018  Certificate of Compliance being issued in September 2018  Handover of pre-sold units in progress  Up to 14 October 2018, the Group has pre-sold 541 units with saleable area of approximately 304,700 square feet at an average selling price of approximately HK$15,700 per square foot.

 LSD being selected as the most preferred proponent in Oct 2013 and being awarded by Ocean Park for the Ocean Hotel project in May 2014  6 storeys, 471 guest rooms  Total GFA: 365,974 sq.ft.  Marriot as hotel operator and manager  Construction completed  Hotel license being issued in October 2018  Soft opening being scheduled on 29 October 2018

 On 29 April 2014, LSD won the contract for Urban Renewal Authority’s residential-cum- commercial development of San Shan Road/Pau Chung Street project in Ma Tau Kok by tender  Site area: approx. 12,600 sq. ft.  Gross floor area: approx. 111,400 sq.ft. - 94,500 sq. ft. for residential use - 16,900 sq.ft. for commercial use  209 residential units  Expected total development cost: HK$1.0 billion  Occupation Permit being issued in July 2018  Application for the Certificate of Compliance in progress  Pre-sale of 209 residential units completed  Up to 14 October 2018, the Group has 5 out of 7 commercial units with saleable area of approximately 14,000 square feet at an average selling price of approximately HK$23,000 per square foot.

 On 22 September 2015, LSD won the contract for Urban Renewal Authority’s residential- cum-commercial development of Sai Wan Ho Street project in Shau Kei Wan by tender  Site area: approx. 7,600 sq. ft.  Gross floor area: approx. 59,800 sq.ft.  Expected total development cost: HK$0.9 billion  144 residential units  Expected construction completion: Q3 2019  Pre-sale launched in August 2018  Up to 14 October 2018, the Group has pre-sold 10 units with saleable area of approximately 3,160 square feet at an average selling price of approximately HK$21,200 per square foot.

 On 16 May 2016, LSD completed the purchase of the remaining unit for the proposed development in Ki Lung Street in Sham Shui Po, Kowloon  The site comprises numbers 48-56 on Ki Lung Street and is planned to be a residential development for sale  Combined site area: approx. 5,100 sq.ft.  Total gross floor area: approx. 42,900 sq.ft.  Expected total development cost: HK$0.4 billion  138 residential units  Expected construction completion: Q3 2019  Pre-sale launched in July 2017  Up to 14 October 2018, the Group has pre-sold 137 units with saleable area of approximately 28,500 square feet at an average selling price of approximately HK$18,800 per square foot.

 On 25 April 2014, LSD succeeded in bidding for 107 Leadenhall in a private auction and the transaction was completed in May 2014  Located at the core of the insurance district in central London  Gross internal area: approx. 146,600 sq.ft. of commercial/office accommodation  Currently fully leased out

L AI S UN G ROUP 麗新集團 16 Lai Sun Group © All rights reserved Build Pipeline - 100 Leadenhall – Jan 2015 (100%-LSD, London)  LSD acquired 100 Leadenhall in Nov 2014 and the transaction was completed in Jan 2015  Office and ancillary accommodation of approx. 177,700 sq.ft. gross internal area  Currently let to Chubb Market Company Limited (formerly known as ACE Global Markets Limited)

 On 18 December 2015, LSD acquired 106 Leadenhall  Located adjacent to our other two wholly-owned properties, namely 100 and 107 Leadenhall Street  Multi-tenanted asset with approximately 19,924 square feet gross internal area of commercial and office area including ancillary space  Currently fully leased out

 Combined gross internal area: approx. 344,224 square feet  Total acquisition cost: approx. GBP189.1 million  All leases being aligned to expire in 2023  The City of London’s Planning and Transportation Committee has given a resolution to grant planning consent for the redevelopment of the Leadenhall properties.  The total gross internal area of the proposed tower is expected to be approximately approx. 1,275,600 sq. ft. including ancillary facilities upon completion.

107 Leadenhall 100 Leadenhall

106 Leadenhall “The Cheesegrater” was sold for a record price of £1.135 billion in March 2017, representing a net yield of around 3.5%.

 The Planning Consent would allow LSD to redevelop the Leadenhall properties into a 56 storey tower with:  approx.1,068,510 sq. ft. gross internal area of office space  new retail space of approx. 8,730 sq. ft.;  a free, public viewing gallery of approximately 19,967 sq. ft. at levels 55 and 56, offering 360 degree views across London; and  new pedestrian routes between Leadenhall Street, Bury Street and St Mary Axe, and new public spaces around the base of the building

Proposed view of the Eastern Cluster Leadenhall Street elevation

Hong Kong (through LSD) . 1.3 mil sq.ft. rental space*; HK$555.7 mil rental revenue for FY2018 . rental asset value: HK$26bln* as at 31 July 2018 . 5 projects under development with total capex of approx. HK$12.4 bln . HK/SZ stock connect qualified

Mainland China (through LFH) Guangzhou Zhaoqing . 1.3 mil sq.ft. rental space; HK$238.2 mil rental revenue for FY2018 . rental asset value: HK$4.5bln as at 31 July 2018 Guangzhou Huizhou . Haizhu Plaza under development with total capex of approx. HK$1.52 bln Foshan Dongguan Zhongshan . Zhongshan Palm Spring with approx. 2.1 mil sq.ft under development Shenzhen . Total capex of approx. HK$1.45 bln Hengqin Zhongshan Hong Kong . “Las Vegas/Orlando” equivalent in the PRC Jiangmen Zhuhai Macau . Novotown Phase I: HK$6.6 bln investment with Lionsgate and National Hengqin Geographic. Completing in H1 2019 . Novotown Phase II: framework agreement with Real Madrid and Harrow International (China) Management Services Limited & ILA Holding Limited

* including 10% interest in AIA Central

Hong Kong 58.5 million visitors in 2017

Macau 32.6 million visitors in 2017

 Guangdong free-trade zone status has been formally announced on Zhuhai New Central Macau 21 April 2015 Business District  Augmenting the growth of Macau through Guangdong-Macau Traditional Chinese tourism and Medicine Industrial Park entertainment  Creating the “Las Our Site – Novotown Macau Vegas”/”Orlando University Florida” of Asia together with Macau Light rail station to be located adjacent to our site Chimelong International Ocean Resort

Proposed spa resort area Railway Station Guangzhou-Zhuhai Intercity Railway Extension Hengqin's Light Railway connecting to Macau's Light Railway Light Railway with station for Novotown

Phase I (80%-LFH, 20%-eSun) - succeeded in auction in Sep 2013  Site area: 1.4 million sq.ft.  Development GFA: 4.1 million sq.ft. (including car-parking spaces and ancillary facilities)  Average land cost: RMB2,010 per sq.m.  Usage: cultural, creative industrial and commercial related  MLP approved in January 2015 and construction work commenced in the end of 2015  Expected completion: H1 2019

Phase II - Discussions between LFH and the Hengqin government regarding the land concession and the Phase II development of the Novotown are in progress Site under 2011 Sep MOU

Phase II Phase I

Phase I GFA (sq.ft.)

Cultural Cultural Cultural themed hotel 596,727 workshop themed hotel Cultural workshop 429,641

Cultural commercial area (podium) 523,843 Office Cultural commercial area (podium) Performance halls 160,937

Cultural attractions 293,292

Office 542,447 Performance halls & cultural attractions Cultural studios (for sale) 244,936

Car-parking spaces 582,827

Cultural studios Ancillary facilities and others 844,817 (for sale) Total 4,219,467

 Licensing agreement being entered into in Nov 2015 with Lionsgate LBE, Inc. for the development and operation of an Immersive Experience Center (“IEC”) in Phase I of the Novotown.

 Village Roadshow Theme Parks was appointed in July 2016 to be the consultant and operator of the Lionsgate-themed IEC for a minimum of ten years. The Hunger Games Now You See Me  Thinkwell Group was appointed in November 2016 to create the first Lionsgate Entertainment World™, a themed immersive experience center that will bring to life some of Lionsgate’s most successful film properties in China, including the Hunger Games, The Twilight Saga, The Divergent Series, Now you See Me, Gods of Egypt and Escape Plan through exciting interactive and immersive attractions.

Gods of Egypt The Divergent Series

The Twilight Saga Escape Plan

 Licensing agreements being entered into in Nov 2015 with a master license holder of National Geographic Society (“NGS”) to develop a Family Edutainment Center (“FEC”) in Phase I of the Novotown

 The size of the FEC expected to be approximately 50,200 square feet, containing 18 individual The Fossil Pit Safari Speedway attractions including rides, F&B facilities, retail premises, virtual reality and/or 4-D interactive experiences, and other types of entertainment & educational attractions

Ocean Endeavour Crittercam Live

 Hyatt being engaged as the manager for the cultural themed hotel in March 2015 . The 490-room Hyatt Regency Hotel provides comfortable and cozy accommodation for visitors’ stay at Novotown.

 Entered into cooperation framework agreement in April 2016 with Trans-Island Limousine Service Limited (“TIL”, subsidiary of Kwoon Chung Bus Holdings Limited) to develop a cross-border bus service between HK and Hengqin

 The bus terminus will be located at the Novotown phase I.

 The routes will be supported by TIL’s professional teams. TIL will coordinate its marketing effort based on Novotown’s strategy in order to improve its international recognition and attract overseas visitors.

 A shareholders' agreement was entered into in Jan 2017 with Sanitas Management Company Limited, which owns the Taipei Beitou Health Management Hospital in Taiwan to form a joint venture company co-developing a healthcare and beauty center in the Phase I of Novotown.

 This healthcare tourism destination is expected to have an area of approx. 80,000 square feet, providing visitors with comprehensive medical check-ups, beauty consultation and wellness services.

 The Hall of Inspiration is a multi-purpose venue for a wide spectrum of events, including fashion shows, gala dinners, TV broadcasts, reality shows, mini concerts, corporate meetings and conferences etc.

 The Hall of Celebration alongside the uniquely designed garden is a perfect venue to hold your dream wedding ceremony, private events, wedding banquet

Shooting Gallery Stunt Pit

 A licence agreement was entered into in Jun 2017 with Real Madrid Club de Fútbol in relation to the development and operation of a location based entertainment centre ("Real Madrid LBE") in Novotown Robogoalie Faster Than Light

 A cooperation agreement was entered into in Nov 2017 with Harrow International (China) Management Services Limited and ILA Holdings Limited bringing Harrow International China Group, the world’s leading learning institution, to set up Innovation Leadership Academy Hengqin (“Harrow School”) in Phase II of the Novotown

 The cooperation aims to enhance the general education experience in Hengqin and across the region catering for learning needs of local and overseas families residing within the Pearl River Delta area, including Hengqin, Zhuhai, Macau and Greater Bay Area.

 Real Madrid LBE and Harrow School are planned to be launched in Phase II of the Novotown project in Hengqin, subject to the acquisition of the land for Phase II.

Zhabei District  In July 2014, LFH succeeded in the bid of the land use rights of Hongkou District the land located by the Huangpu river in Huangpu district, Shanghai, the PRC  Site area: approx. 74,100 sq.ft.  Attributable gross floor area: approx. 83,700 sq.ft. Jing’an District  Types of products: high end luxury residential units  Expected construction completion: Q2 2019 People’s Square Huangpu District

Xuhui District Pudong New District

The land parcel

 Shanghai Northgate Plaza I is located in the Jing'an District of Shanghai, near the Shanghai Railway Terminal Northgate Plaza I  Shanghai Northgate Plaza II is a vacant site adjacent to Northgate Plaza I  Acquisition of the 6th to 11th floors of Hui Gong Building was completed in September 2016  The Group plans to redevelop Shanghai Northgate Plaza I, Northgate Plaza II and the Hui Gong Building together under a comprehensive redevelopment plan  The redeveloped project will include an office tower, a shopping arcade and underground car-parking spaces Hui Gong Building  Demolition of Northgate Plaza I and Hui Gong Building have been completed and foundation works commenced in September 2017 Northgate Plaza II  Rental GFA to add: approx. 693,600 sq. ft.  Expected construction completion: Q4 2021

 The overall development has a total planned GFA of approximately 6.075 million sq.ft., comprise of high-rise residential towers, townhouses, serviced apartments and commercial

 During the year under review, 84,936 square feet of high-rise residential units were recognised at an average selling price of HK$1,148 per square foot

 As at 31 July 2018, completed units held for sale in this development amounted to 486,500 square feet with a carrying amount of approximately HK$395.9 million.

 The remaining GFA under development was approximately 2,099,200 square feet

Approximate GFA Expected Phase Description (sq.ft.) completion High-rise residential units including 523,100 Q3 2020 III commercial units High-rise residential units including 1,576,100 Q2 2021 IV commercial units

Project under development Usage Group interest Attributable GFA Total development cost (100%) OP Date (sq.ft.) (HK$'million) LFH - Mainland China Q4 2021 Shanghai Northgate Plaza Redevelopment Commercial/Office 100% 693,600 2,040 (expected) Q2 2019 Shanghai Wuli bridge project Residential 100% 83,700 1,030 (expected) Q4 2022 Guangzhou Haizhu Plaza Commercial/Office 100% 602,800 1,520 (expected) Zhongshan Palm Spring by phases up to Q2 2021 Residential 100% 2,099,200 1,450 (remaining phases under development) (expected) Commercial/Office/ * H1 2019 Hengqin Novotown Phase I 80% 2,791,800 6,650 Serviced apartment (expected) Subtotal: 6,271,100 12,690

LSD – Hong Kong

Ocean Park Marriott Hotel Hotel 100% 366,000 4,400 Q1 2018

Alto Residences Residential 50% 286,700 5,700 Q2 2018

93 Pau Chung Street Residential 100% 111,400 1,000 Q3 2018 Q3 2019 Sai Wan Ho Street project Residential 100% 59,800 900 (expected) Q3 2019 Novi Residential 100% 42,900 400 (expected) Subtotal: 866,800 12,400

Total: 7,237,900 25,090 * Including 100% Hengqin Novotown Phase I

Ownership changes eSun commenced Continued accretion of Financial Lam Family increased LFH 2014 US$200m Acquisitions accreting stake in equity interests across bond consent solicitation stake in LSG Operations LFH the group completed Research coverage Financial LSD LSG LSD LFH LFH consolidation HK$2.2bn HK$800m US$350m HK$3.55bn RMB1.8bn of LSG/LSD and syndicated syndicated guaranteed syndicated eSun’s acquisition of bond eSun/LFH loan loan notes loans 85% interest in KIGHL

Jul 12 Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 13

LSD’s successful LFH Conditional Lam Family LSD & LSG capital tender of the TKO Waiver approved increased stake in reductions site LSD awarded the LSG completed LFH’s SH HK LFH’s GZ MF Ocean Park Hotel Plaza 5% Plaza 22.5% LFH’s NG Plaza Continued accretion project LFH’s acquisition 2% minority of equity interests minority minority LSD acquired 107 of a piece of land buyout across the group buyout buyout Leadenhall in London in Shanghai

Aug 13 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 14

LSG eSun LFH’s successful auction LSD appointed as HK$215.8m LSD won URA’s San RMB650m secured for Hengqin Phase I the most preferred LSG rights issue Shan Road/Pau Chung guaranteed notes proponent for the RMB650m secured LFH invited eSun to co- Street project in Ma Tau LSD Ocean Hotel at guaranteed notes invest in Hengqin Phase I Ocean Park MAGHL Kok by tender HK$1.94bn term loan HK$80m share for TKO site placement

LSD LSD LFH ‘s SHMFP 5% Rated research report Rated research minority buyout Ownership changes issued by BNP report issued by DBS Financial LFH ‘s property swap in Acquisitions AGM to approve relation to Eastern Place V Operations final dividend and Paramount Centre Research coverage

Aug 14 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 15

LSD LSD GBP85.6m project loan for 100 LSD change in LSD GBP48m project Leadenhall board lot size HK$924.3m loan for 107 Signed development agreement rights issue Leadenhall LSD acquired 100 for Ocean Park Hotel LSD LFH Leadenhall in HK$3.0bn LSD acquired 106 HK$3.69bn LSD London term loan Leadenhall in syndicated loans HK$720m project loan for URA’s San Shan London Road/Pau Chung Street project in Ma Tau Kok LFH, LSD & LSG LFH acquired 6 floors AGM to approve Level 1 ADR Programme of Hui Gong Building final dividend being effective

Aug 15 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 16

LSD won URA’s Sai LSD Completion of LSD’s LFH & LSG LSD completed site Wan Ho Street HK$3.6bn term HK$924.3m rights issue and change in board amalgamation for Ki project in Shau loan for Ocean LSG’s interest in LSD lot size Lung Street project Kei Wan by tender Hotel project increased to 61.93%

Ownership changes eSun Financial LSD acquired 49.96% Placing of new Acquisitions Operations interest in Camper & shares under Research coverage Nicholsons International SA general mandate

Aug 16 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 17

LSD acquired 2% LSD’s investment additional interest in Phuket hotel in eSun project

LSD’s conditional LSD’s disposal of LSD LFH LSG’s disposal of voluntary general offer to 50% interest in 8 US$400m US$350m approx. 8.42% eSun and mandatory Observatory Road guaranteed guaranteed interest in LSD general offer to LFH project notes notes

Aug 17 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 17 Aug 17 Sep 17

LFH, LSD & LSG completion of share LSD’s disposal of consolidation and 36 Queen’s Street change in board lot size

51.51 51.41 47.40

78% 74% 77%

13.42 11.50 10.94 80% 6.21

1.27

LSG LSD eSun LFH NAV per share as at 31 July 2018 (in HK$) Stock Price as at 31 Jul 2018 (in HK$)

For the year ended 31 July 2018 Oct-17 Post results non-deal roadshow CLSA Hong Kong Oct-17 Post results non-deal roadshow DBS Singapore Nov-17 Post results non-deal roadshow BNP London Nov-17 Post results non-deal roadshow BNP New York/ Los Angeles Jan-18 Deal roadshow – Lai Fung USD guaranteed notes DBS/HSBC/OCBC/UBS Singapore Jan-18 Deal roadshow – Lai Fung USD guaranteed notes DBS/HSBC/OCBC/UBS Hong Kong Jan-18 The Pulse of Asia Conference DBS Singapore Mar-18 Post results non-deal roadshow DBS Hong Kong Mar-18 Post results non-deal roadshow DBS Singapore Apr-18 Post results non-deal roadshow DBS London Apr-18 Post results non-deal roadshow Daiwa New York May-18 Post results non-deal roadshow DBS Kuala Lumpur Sep-18 2018 SCB Annual Investor Reverse Roadshow Standard Chartered Bank Hong Kong Analyst Coverage

Publication Firm Covered Company Analyst Date

DBS LSD Jeff YAU, Ian CHUI 20 Oct-17

HSBC LFH Keith CHAN 23 Oct-17

HSBC LSD Roanna CHAU, Keith CHAN Oct-17

The Lam Family Mr. Yu Cheuk Yi & Ms. Yu Siu Yuk 45.53%* (42.37%**) Lai Sun Garment (International) Limited (“LSG”) 28.78%# Investment Holding HK Stock Code: 191

56.18%* (48.04%**)

Lai Sun Development Company Limited (“LSD”) # Property Development & investment in HK & Overseas 15.76% Hotel Management & Hospitality HK Stock Code: 488 77.76%* (38.38%**)

eSun Holdings Limited (“eSun”) 9.99%# Media & Entertainment and Cinema Operations in HK and the PRC HK Stock Code: 571 CapitaLand – 19.69%# Third Avenue Management – 7.32%#

67.56%* (51.09%**) 50.60%* (47.87%**)

Media Asia Group Holdings Limited Lai Fung Holdings Limited (“LFH”) 8.13%# Media and Entertainment Property Development & investment in the PRC HK Stock Code: 8075 HK Stock Code: 1125

*Latest shareholding includes interests held by certain directors at LSD and eSun levels. LSG’s corporate interest in LSD is56.10% and LSD’s corporate interest in eSun is 77.38% **Shareholding as at 31 July 2012 includes interests held by certain directors at LSD and eSun levels # Latest shareholdings

L AI S UN G ROUP 麗新集團 44 Lai Sun Group © All rights reserved Operations Update Hong Kong and London – replenishing landbank Major assets in LSD: 2,299 Hong Kong:  CSW Plaza 2,016 366  CWB Plaza II  Ocean Park Hotel soft opening on  Lai Sun Comm Center 29 October 2018 (approx. GFA  CCB Tower 366,000 sq. ft.)  8 Observatory Road* United Kingdom: 1,323  Actively reviewing sites to 1,240 expand portfolio  107 Leadenhall Street  100 Leadenhall Street

(‘000 (‘000 sq.ft.)  106 Leadenhall Street Vietnam: 344 344

Attributable rental GFA GFA rental Attributable  Caravelle Hotel Major assets in LSG: 98 98  Crocodile Center 251 251  Por Yen Building 31-Jul-18 FY 2018 * Disposed in July 2018 and the completion expected to be in March 2019

398  Existing pipeline completed - 339 Tai Hang Road 93 Pau Chung Street 111 - Ocean One – commercial area

 Alto Residences, 93 Pau Chung Street, Monti and Novi add near term growth 287 103 (‘000 sq.ft.) (‘000 Alto Residences Novi  Continue efforts to secure new projects Sai Wan Ho 43 Street project 60

Attributable saleable GFA Attributable FY 2019 FY2020

L AI S UN G ROUP 麗新集團 45 Lai Sun Group © All rights reserved Rental Income Growth – Hong Kong For the year ended 31 July Rental turnover and building management fee (HK$’million) 2018 2017 LSG Crocodile Center 96.6 88.6 +9.0% Por Yen Building 14.8 14.7 +0.7% Others 2.6 2.5 -+4.0% LSG Subtotal: 114.0 105.8 +7.8%

LSD Hong Kong Cheung Sha Wan Plaza 311.9 302.1 +3.2% Causeway Bay Plaza 2 181.1 181.4 -0.2% Lai Sun Commercial Centre 49.9 54.6 -8.6% Others 12.8 12.3 +4.1% Subtotal: 555.7 550.4 -1.0% London, United Kingdom 36 Queen Street* 24.1 23.1 +4.3% 107 Leadenhall Street 55.6 45.6 +21.9% 100 Leadenhall Street 62.8 61.9 +1.5% 106 Leadenhall Street 6.3 5.7 +10.5 Subtotal: 148.8 136.3 +9.2% Total: 704.5 686.7 +2.6%

CCB Tower (50% basis)** 135.2 122.4 +10.5% 8 Observatory Road (50% basis)*** 52.4 55.0 -4.7% LSD Subtotal: 892.1 864.1 +3.2%

* Disposed by LSD in July 2018 and the transaction was completed in July 2018 LSD & LSG Total: 1,006.1 969.9 +3.7% ** Recognised as share of profits from joint ventures *** Recognised as share of profits from joint ventures; The property was disposed by LSD in July 2018 and the completion is expected to be in March 2019

L AI S UN G ROUP 麗新集團 46 Lai Sun Group © All rights reserved Operations Update PRC – growing the rental portfolio… FY 2019 FY 2022 FY 2023 Properties to be Properties to be Properties to be added: added: added:  Hengqin  Northgate Plaza  Haizhu Plaza Novotown redevelopment Phase I* project 7,133 6,530 5,836 5,836 5,836 603 694 509**

2,038*** 3,289 6,530 5,836 5,836 5,836

3,289 3,289

31-Jul-18 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Existing Newly completed rental properties to be added Attributable rental GFA (‘000 sq.ft.)

* Including 100% Novotown Phase I, excluding the for-sale portion of cultural studios with a total GFA of approximately 244,936 sq.ft. ** GFA attributable to eSun (excluding car-parking spaces and ancillary facilities) *** excluding car-parking spaces and ancillary facilities

Rental turnover For the year ended 31 July For the year ended 31 July 2018 2017 2018 2017 (HK$ million) (HK$ million) (RMB million) (RMB million) @0.831 @0.8777 Shanghai Shanghai Hong Kong Plaza 416.9 399.4 +4.4% 346.4 350.6 -1.2% Shanghai May Flower Plaza 75.9 75.4 +0.7% 63.1 66.2 -4.7% Shanghai Regents Park 25.0 20.0 +25.0% 20.7 17.5 +18.3% Subtotal: 517.8 494.8 +4.6% 430.2 434.3 -0.9% Guangzhou Guangzhou May Flower Plaza 113.2 105.5 +7.3% 94.1 92.6 +1.6% Guangzhou Lai Fung Tower 105.2 74.9 +40.5% 87.4 65.7 +33.0% Guangzhou West Point 19.8 18.4 +7.6% 16.5 16.1 +2.5% Subtotal: 238.2 198.8 +19.8% 198.0 174.4 +13.5% Zhongshan Zhongshan Palm Spring 10.2 8.5 +20.0% 8.5 7.5 +13.3% Subtotal: 10.2 8.5 +20.0% 8.5 7.5 +13.3% Total: 766.2 702.1 +9.1% 636.7 616.2 +3.3%

L AI S UN G ROUP 麗新集團 48 Lai Sun Group © All rights reserved Operations Update PRC – steady build-for-sale pipeline; replenishing land bank # FY2019 FY2020 FY2021 Land bank as at 31 July 2018 – 6.3 million sq. ft. Completion : Completion : Completion :  Cultural studios of  Cultural studios of  Palm Spring Shanghai Hengqin Hengqin Phase III & IV 12% Novotown Phase I Novotown Phase I Hengqin 45% (part) (part) Guangzhou  Shanghai Wuli 2,099 10% Bridge project Zhongshan For Sale 33% 39% For Rental 61%

2,099 Project completed for sale as at 31 July 2018 495,415 sq. ft.*** 495 281 Guangzhou 47 2% 495* 39** 242 9** Zhongshan 38 98% 31-Jul-18 FY 2019 FY 2020 FY 2021 Attributable saleable GFA (‘000 sq.ft.) # Including 100% Hengqin Novotown Phase I *Excluding commercial portion of the Zhongshan Palm Spring for self-use ** GFA attributable to eSun (excluding car-parking spaces and ancillary facilities) *** Refers to the completed properties for sale excluding commercial portion of the Zhongshan Palm Spring for self-use and Guangzhou Paramount Center which is subject to the asset swap transaction that has been completed in August 2017 post year end

Approximate GFA Average Selling Price# Turnover# As at 31 July 2018 No. of units Square feet HK$/square foot HK$ million RMB million Zhongshan Residential High-rise Units 31 34,614 1,497 51.8 43.0 Hengqin Novotown Studios 11 47,420 5,207 246.9 205.2 Sub-total 42 82,034 3,641 298.7 248.2 Guangzhou Eastern Place Car-parking Spaces 2 1.6 1.3 Guangzhou King's Park Car-parking Spaces 1 1.2 1.0 Zhongshan Palm Spring Car-parking Spaces 3 0.6 0.5 Sub-total 302.1 251.0

Contracted sales from joint venture project Guangzhou Dolce Vita Car-parking Spaces (47.5% basis) 1 0.4 0.3 Sub-total 0.4 0.3

Total (excluding car-parking spaces) 42 82,034 3,641 298.7 248.2 Total (including car-parking spaces) 302.5 251.3 # Before business tax and value-added tax inclusive

HK$ million unless specified otherwise Revenue Profit /(loss) attributable to owners of the company Key drivers (% Change) (EPS)

Reported : HK$2,567.4 million (HK$6.686) +76%  Steady performance from rental properties in Hong Kong and London; rental revenue +3.3% LSG HK$1,804.0 -0.2% Adjusted : HK$71.1 million (HK$0.185) -48%  Overall performance dominated by LSD

 Steady performance from rental properties in Hong Kong and London; rental revenue +2.6% Reported : HK$4,335.2 million (HK$7.159) +107%  Property sales of pre-sold units pending to be recognised in coming financial years LSD HK$1,693.0 -0.7%  Contributions from restaurant operations being boosted by newly opened restaurants  Increase in reported net profit is primarily due to a substantial increase in revaluation of investment properties Adjusted : HK$188.5 million (HK$0.311) -25% owned by the Company and held through joint ventures of the Company

Reported : HK$ 263.8 million (HK$0.177) -49%  Turnover decreased due to less turnover from sale of properties of Lai Fung  Decrease in net profit attributable to owners of the Company s is primarily due to (i) a lower tax indemnity amount received by LFH from LSD; (ii) a lower fair value gain arising on the cross currency swaps in relation to LFH’s RMB1.8 eSun HK$2,183.9 -18.4% billion senior notes which matured in April 2018; (iii) the absence of a gain on disposal of an available-for-sale Adjusted : (HK$108.2 million) ((HK$0.073)) N/A investment; and (vi) a consolidated loss from MAGHL owing to unsatisfactory performance of the films released by MAGHL during the year under review.

 Steady performance from rental portfolio; rental revenue +9.1%; RMB denominated rental revenue +3.3% Reported : HK$1,180.1 million (HK$3.615) -20%  Property sales primarily driven by sales performance of residential units of Guangzhou Eastern Place Phase V and LFH HK$950.8 -28.3% Zhongshan Palm Spring; sales revenue -70.4%; RMB denominated sales revenue -72.0%  Reported net profit increased due to (i) decreased profit contribution from the sales of Guangzhou Dolce Vita; and Adjusted : HK$629.1 million (HK$1.927) -36% (ii) lower tax indemnity amount received from LSD

L AI S UN G ROUP 麗新集團 52 Lai Sun Group © All rights reserved Stable Financial Foundation Cash and bank balance as at 31 July 2018 (HK$'million) Consolidated 4,546 4,340 3,210 2,438 Ex-listed subs 206 342

Undrawn facilities as at 31 July 2018 (HK$'million) Consolidated 1,805 1,555 3,855 3,552 Ex-listed subs 250 N/A 303 N/A

54% 44% 39% 32% 25% 22% 31,158.7

19,837.3 (HK$51.41)

15,502.9 (HK$51.51) (HK$49.40) 9,259.5 (HK$6.21)

LSG LSD eSun LFH

Net Assets (in HK$' million) and Net Asset Value ("NAV") per share* (in HK$) as at 31 July 2018 Net Debt to Equity ratio as at 31 July 2018 Gearing ratio excluding London portfolio

GFA by type as at 31 July 2018 (‘000 sq.ft.) By type

Commercial No. of Office Industrial Residential Hotel Total Completed Hotel / Retail carparks Properties and Serviced Apartments Lai Sun Garment 3%

Completed properties held for 91 - 160 - - 251 11 Rental Completed Properties Under properties held Development for Rental 30% Lai Sun Development 66% Completed Completed properties held for 536 1,067 64 - - 1,667 1,027 properties for Sale Rental 1%

Completed Hotel Properties and - - - - 98 98 Serviced Apartments - By asset class

Hotel Properties Under Development 80 - - 421 366 867 196 16% Commercial 25% Residential Completed properties for Sale 27 - - 7 - 34 10 15%

Lai Sun Development Office Industrial 643 1,067 64 428 464 2,666 1,233 36% Total GFA 8%

Note: The above table excludes GFA held by Lai Fung Holdings Limited

AIA Central CCB Tower 1 Connaught Road Central, Central, Hong Kong 3 Connaught Road Central, Central, Hong Kong

Building specification: Project Particulars:

• Completed in 2005 • Partner with China Construction Bank (50:50 JV)

• Partner with AIA (90%AIA : 10%LSD) • The redeveloped office tower is a landmark property in Central, Hong Kong • GFA: 429,000 sq.ft. • Grade A office building with GFA of 229,100 sq.ft. • Grade A office building • Head Office for China Construction Bank • 39-storey including basement • Fully leased • 26-storey of leasable office

• 61 carparks

Causeway Bay Plaza 2 463-483 Lockhart Road, Causeway Bay, Hong Kong (100%)

Building specification: • Completed in 1992 • GFA: 206,000 sq.ft. • Office and retail • 28-storey • Retail 109,800 sq.ft.. • Office 96,200sq.ft. • 57 carparks • Tenants include HSBC branch, commercial offices and major restaurants

Cheung Sha Wan Plaza 833 Cheung Sha Wan Road, Cheung Sha Wan, Kowloon, Hong Kong (100%) Building specification: • Completed in 1989 • GFA: 643,700 sq.ft. (excl. carparks) • 2 office towers • Retail podium (5-storey) • 355 carparks Major tenants of arcade: HSBC, Hang Seng Bank, Bank of Communications, Standard Chartered Bank, ICBC, Bank of China, DBS Bank, China Construction Bank, BEA, Starbucks Coffee, Arome, Foo Lum, McDonald’s, KFC, Mannings Major tenant of office: Logitech, Tommy Hilfiger, C.S.S. Jewellery, HP, Dah Sing Bank

Lai Sun Commercial Centre 680 Cheung Sha Wan Road, Cheung Sha Wan, Kowloon, Hong Kong (100%)

Building Specification: • Completed in 1987 • GFA: 169,200 sq.ft. (excl. carparks) • Office / retail mixed use development • 521 carparks

Tenants in arcade dominated by local retailers

Most of the office space are taken up by the Lai Sun Group and Crocodile (sister company)

Crocodile Center (retail podium) 79 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong (100%)

Building Specification: • Completed in 2009 • GFA: 91,200 sq.ft. • Office / retail mixed use development

Tenants dominated by local restaurant groups

339 Tai Hang Road, Hong Kong Ocean One, Yau Tong, Kowloon (100%) (100%)

Project Particulars: Project Particulars: • • Luxury residential development at Residential-cum-commercial the southern part of Wong Nai Chung property district • Total GFA of approx. 122,000 sq.ft. • Total GFA: 30,400 sq.ft. • 124 residential units and 2 • Total development cost is approx. commercial units HK$670 million • All residential units being sold • 8 out of 9 units being sold up to now • 2 commercial units and 7 car-parking spaces remain unsold

Alto Residences, Tseung Kwan O

Project Particulars:

• 50:50JV

• Land area: 229,300 sq.ft.

• Total GFA: 573,300 sq.ft.

• Estimated development cost: HK$6 billion

• 605 flats, including 23 detached houses

• Occupation Permit being issued in May 2018

• Certificate of Compliance being issued in September 2018

• Handover of pre-sold units in progress

Ocean Park Hotel (100%) Project Particulars:

• 6 storeys, 471 guest rooms

• Total GFA: 366,000 sq.ft.

• Expected investment: HK$4.4 billion

• Marriot as hotel operator and manager

• Construction completed

• Hotel license being issued in October 2018

• Soft opening being scheduled on 29 October 2018

93 Pau Chung Street (100%) Project Particulars:

• Site area: approx. 12,600 sq. ft.

• Permitted GFA: approx. 111,400 sq.ft. - 94,500 sq. ft. for residential use - 16,900 sq.ft. for commercial use

• Expected total development cost: HK$1.0 billion

• 209 flats, including studios, one and two bedroom units

• Occupation Permit being issued in July 2018

• Application for the Certificate of Compliance in progress

• Pre-sale of 209 residential units completed

Monti (100%) Project Particulars:

• Site area: approx. 7,600 sq. ft.

• Permitted gross floor area: approx. 59,800 sq.ft.

• Expected total development cost: HK$0.9 billion

• 144 residential units

• Expected completion: Q3 2019

• Pre-sale launched in August 2018

• Combined site area: approx. 5,100 sq.ft.

• Total gross floor area: approx. 42,900 sq.ft.

• Expected total development cost: HK$0.4 billion

• Expected completion: Q3 2019

• Pre-sales launched in August 2018

107 Leadenhall (100%)  On 25 April 2014, LSD succeeded in bidding for 107 Leadenhall in a private auction and the transaction was completed in May 2014  Located at the core of the insurance district in central London  Gross internal area: approx. 146,600 sq.ft. of office accommodation  Currently fully leased out

100 Leadenhall (100%)  LSD acquired 100 Leadenhall in Nov 2014 and the transaction was completed in Jan 2015  Office and ancillary accommodation of approx. 177,700 sq.ft. gross internal area  Currently let to Chubb Market Company Limited (formerly known as “ACE Global Markets Limited”)

L AI S UN G ROUP 麗新集團 67 Lai Sun Group © All rights reserved Major Rental Properties - London Core of the financial district in central London 106 Leadenhall (100%)  Located adjacent to 100 and 107 Leadenhall Street  Multi-tenanted asset with approximately 19,900 square feet gross internal area of commercial and offices space  Currently fully leased out

107 Leadenhall 100 Leadenhall

106 Leadenhall

By type Completed Total GFA of major properties in the PRC: 10.1 million sq.ft.* Properties Held for Sale Properties Under 5% Shanghai Development Guangzhou Attributable GFA 62% Attributable GFA ('000 sq.ft.) Completed Properties ('000 sq.ft.) Rental properties held for rental 1,229 held for rental Hotel properties and serviced 27% Rental properties held for rental 1,314 499 Completed Hotel Hotel properties and serviced apartments Properties and Serviced - apartments Properties under development 777 Apartments 6% Properties under development 603 Completed properties held for sale - Completed properties held for sale 9 Total GFA 2,505 By asset class Residential Total GFA 1,926 25% Commercial / Zhongshan Serviced Shanghai Retail Attributable GFA Apartments 30% 16% ('000 sq.ft.) Rental properties held for rental 147 Hotel properties and serviced Office 99 29% apartments Properties under development 2,099 Completed properties held for sale 520 By geography Guangzhou Total GFA 2,865 Zhongshan Hengqin Shanghai Hengqin 28% 25% Attributable GFA ('000 sq.ft.) Guangzhou Properties under development 2,792 19% Hengqin Zhongshan Total GFA 2,792 28% *Including 100% Hengqin Novotown

GFA by type as at 31 July 2018 (‘000 sq.ft.) Commercial / Serviced No. of Office Residential Total Retail Apartments carparks eSun

2 Properties Under Development 196 157 205 - 558 417

Lai Fung

1 Completed Properties held for rental 1,643 1,048 - - 2,691 799

1 Completed Hotel Properties and Serviced Apartments - - 598 - 598 -

2 Properties Under Development 1,110 1,740 821 2,052 5,713 4,380

Completed Properties Held for Sale 663 - 486 529 2,271

Lai Fung 2,786 2,788 1,419 2,538 9,531 7,450 Total GFA

1. Completed and rental generating properties 2. All properties under construction 3. Including shopping arcade space in Zhongshan Palm Spring which is for self-use

• 32 storey office tower, 32 storey serviced apartment, 7 level commercial podium with basement parkade

• GFA 1.18 million sq.ft./ Office 360,700 sq.ft./ Serviced apartment 354,200 sq.ft. / Retail 468,400 sq.ft./ 350 carparks

Leasing condition – July 2018 • Retail 96.8%, Office 94.8%, Serviced Apartment 91.5%

Major Tenants North Tower: Cartier, Chaumet, Tiffany&Co., MCM, Longchamp, Boucheron, Doris Vinci, Belford, HSBC South Tower: Apple Store, COACH, Y-3, GAP, Tissot

Shanghai May Flower Plaza (The Mid Town) (100%)

 Mixed use development comprising retail, offices and residential with total project GFA of approximately 1,195,000 sq.ft.

 Located in Jing’an District at the heart of Shanghai and along metro lines (M3, M4, M8)

 The Group owns 100% in the retail podium with GFA of approximately 320,300 square feet

 The lease of Lotte Mart, a key tenant in the retail podium was terminated on 3 July 2018. LFH is discussing with several prospective tenants to fill the vacancy.

Mayflower Plaza, Guangzhou (100%)

Building Specification: • 13 level building including basement • Total GFA: 436,800 sq.ft.

• Retail 357,400 sq.ft. • Office 79,400 sq.ft.

• 136 carparks

West Point , Guangzhou Leasing condition – July 2018 (100%) • Retail 99.2% Building Specification: • Retail podium/ Carparks • Total GFA: 172,000 sq.ft. • Retail 172,000 sq.ft. Leasing condition – July 2018 • Retail: 100.0%

Lai Fung Tower, Guangzhou (100%)

Building Specification:

• 38-storey office building

• Total GFA: 705,600 sq.ft. - Retail 99,100 sq.ft. - Office 606,500 sq.ft. - 313 carparks

Leasing condition – July 2018

• Retail 100.0%

• Office 100.0%*

*Excluding self-use area

Dolce Vita, Jinshazhou, Guangzhou (47.5%)

 Co-development with CapitaLand which is located northwest of Guangzhou with easy access to the business centre of Jinshazhou

 Residential development with total project GFA of approximately 5.5 million sq.ft., comprising approximately 2,796 low-rise and high-rise residential units and shopping amenities totaling 3.8 million sq.ft. excluding ancillary facilities and car-parking spaces

 Constructions of this project have been completed

 During the year under review, 92,953 square feet attributable to LFH was recognised and generated attributable sale proceeds of HK$317.2 million.

 As at 31 July 2018, contracted but not yet recognised sales of car-parking spaces amounted to HK$0.4 million.

Palm Spring, Zhongshan (100%)

 The overall development has a total planned GFA of approximately 6.075 million sq.ft., comprise of high-rise residential towers, townhouses, serviced apartments and commercial

 During the year under review, 84,936 square feet of high-rise residential units were recognised at average selling prices of HK$1,148 per square foot, which contributed a total of HK$90.5 million to the sales turnover.

 As at 31 July 2018, contracted but not yet recognised sales for high-rise residential units amounted to HK$51.8 million, at average selling prices of HK$1,497 per square foot.

 As at 31 July 2018, completed units held for sale in this development amounted to 486,500 square feet with a carrying amount of approximately HK$395.9 million.

 The remaining GFA under development was approximately 2,099,200 square feet

Approximate GFA Expected Phase Description (sq.ft.) completion

III High-rise residential units 523,100 Q3 2020

IV High-rise residential units 1,576,100 Q2 2021

L AI S UN G ROUP 麗新集團 77 Lai Sun Group © All rights reserved Major Development Properties - PRC Up and coming Hengqin Novotown Phase I (80% LFH - 20% eSun) - succeed in auction in Sep 2013  Site area: 1.4 million sq.ft.  80:20 held by LFH and eSun  Development GFA: 4.2 million sq.ft. including car-parking spaces and ancillary facilities  Average land cost: RMB2,010 per sq.m.  Usage: cultural, creative industrial and commercial related  Announced MOU on 24 April 2014, Lai Fung and eSun, partner with Major League Gaming (“MLG”), the global leader in eSports, plans to build the MLG Gaming Arena in Hengqin  MLP approved in January 2015 and construction work started in the end of 2015  Hyatt being engaged as the manager for the cultural themed hotel in March 2015  Licensing agreement being entered into in Nov 2015 with Lionsgate LBE, Inc. for the development and operation of Lionsgate Entertainment WorldTM in Phase I of the Novotown. Village Roadshow Theme Parks was appointed in July 2016 to be the consultant and operator for a minimum of ten years.  Licensing agreements being entered into in Nov 2015 with a master license holder of National Geographic Society (“NGS”) to develop a family edutainment center, called National Geographic Ultimate Explorer in Phase I of the Novotown  A shareholders' agreement was entered into in January 2017 with Sanitas Management Company Limited, which owns the Taipei Beitou Health Management Hospital in Taiwan to form a joint venture company co-developing a healthcare and beauty cultural center in Novotown Phase II – subject to land concession  In June 2017, LFH entered into a licence agreement with Real Madrid in relation to the development and operation of the Real Madrid LBE in Novotown.  In November 2017, the Group entered into a cooperation agreement with Harrow International (China) Management Services Limited and ILA Holdings Limited bringing Harrow International China Group, the world's leading learning institution, to set up ILA Hengqin in Hengqin.  Real Madrid LBE and the ILA Hengqin are planned to be launched in Phase II of the Novotown project in Hengqin, subject to the acquisition of the land for Phase II.  Discussions between the Group and the Hengqin government regarding the land concession and the Phase II development of the Novotown are ongoing

L AI S UN G ROUP 麗新集團 78 Lai Sun Group © All rights reserved Major Development Properties - PRC Up and coming Wuli Bridge project (100%) Hongkou District  Located by the Huangpu river in Huangpu district, Shanghai, the Zhabei District PRC  Site area: approx. 74,100 sq.ft.  Attributable gross floor area: approx. 83,700 sq.ft.  Types of products: high end luxury residential units People’s  Expected completion: Q2 2019 Jing’an District Square

Huangpu District

Xuhui District Pudong New District

The land parcel

L AI S UN G ROUP 麗新集團 79 Lai Sun Group © All rights reserved Major Development Properties - PRC Up and coming Shanghai Northgate Plaza redevelopment (100%) Northgate Plaza I  Shanghai Northgate Plaza I is located in the Jing'an District of Shanghai, near the Shanghai Railway Terminal

 Shanghai Northgate Plaza II is a vacant site adjacent to Northgate Plaza I

 Acquisition of the 6th to 11th floors of Hui Gong Building was completed in September 2016 Hui Gong Building

 The Group plans to redevelop Shanghai Northgate Plaza I, Northgate Plaza II and the Northgate Plaza II Hui Gong Building together under a comprehensive redevelopment plan

 The redeveloped project will include an office tower, a shopping arcade and underground car-parking spaces

 Demolition of Northgate Plaza I and Hui Gong Building has been completed and foundation works commenced in September 2017

 Rental GFA to add: approx. 693,600 sq. ft.

 Expected construction completion: Q4 2021

Current : 1,161 rooms

STARR Resort Residence Zhongshan 90 rooms Soft-opened August 2013

STARR Hotel Shanghai 239 rooms Soft-opened in November 2013

Ocean Park Hotel adding 471 rooms

Caravelle Hotel, Ho Chi Minh City, “STARR” Vietnam Shanghai Hong Kong Plaza – 335 rooms Furama Resort Danang, Serviced Apartments operated by Vietnam Ascott 300 rooms 197 rooms* *Franchising only

L AI S UN G ROUP 麗新集團 82 Lai Sun Group © All rights reserved Restaurant OperationsHospitalityHPropertyotel Management Development & Investment in Hong Kong & Overseas Acclaimed Michelin starred restaurants Asian Cuisine

• China Tang Hong Kong Landmark (50%)

• China Tang Harbour City (60%)

• Howard’s Gourmet (50%)

• Beijing Howard’s Gourmet (67%)

• Chiu Tang Central (67%)

• Old Bazaar Kitchen (63%) China Tang Hong Kong Landmark Chiu Tang Central • Sun’s Bazaar (67%)

• China Tang Las Vegas (management only)

China Tang Harbour City Howard’s Gourmet

L AI S UN G ROUP 麗新集團 83 Lai Sun Group © All rights reserved Restaurant OperationsHospitalityHPropertyotel Management Development & Investment(cont’d) in Hong Kong & Overseas Acclaimed Michelin starred restaurants Western Cuisine

• 8 ½ Otto e Mezzo, BOMBANA Hong Kong (37%) (Three Michelin stars (2012-2018))

• Otto e Mezzo, BOMBANA (Shanghai) (13%) (Two Michelin stars (2017-2018))

• Opera BOMBANA (Beijing) (20%)

• CIAK – In The Kitchen (62%) (One Michelin star (2015-2017)) 8 ½ Otto e Mezzo, BOMBANA Opera BOMBANA (Beijing) 8 ½ Otto e Mezzo, BOMBANA (Shanghai) • CIAK – All Day Italian (67%) (Michelin Bib Gourmand (2017-2018)) • Beefbar (62%) (One Michelin star (2017-2018))

• Grubers (34%)

CIAK – In The Kitchen Beefbar, Hong Kong

L AI S UN G ROUP 麗新集團 84 Lai Sun Group © All rights reserved Restaurant OperationsHospitalityHPropertyotel Management Development & Investment(cont’d) in Hong Kong & Overseas Acclaimed Michelin starred restaurants

Japanese Cuisine

• Kaiseki Den by Saotome (formerly known as “Wagyu Kaiseki Den”) (59%) (One Michelin star (2010-2018))

• Takumi by Daisuke Mori (formerly known as “Wagyu Takumi”) (63%) (One Michelin star (2017-2018))

• Sushi Masataka (formerly known as “Rozan”) (63%)

Takumi by Daisuke Mori Kaiseki Den by Saotome Sushi Masataka

 Produced and co-produced more than 100 Chinese-language films over last 10 years The most diversified leading  Organised over 1,000 concerts and shows since Chinese-language entertainment 2001 provider in Asia  Published over 300 titles of albums since 2001

 Representing and managing over 20 leading talents in Asia

 Over 220 films in the library

 Owned over 5,000 songs in the music library

 Media Asia’s films won over 140 international awards out of over 359 nominations from major internal film festivals and award ceremonies

 Media Asia’s music albums and singers received numerous awards in major music festivals

 One of the top Chinese-language film production companies in Asia

 Cooperation with influential state-owned film enterprises and invest in film production and distribution under CEPA arrangement

 A leading film distribution company with a time-honored tradition of excellence

 Acquires quality independent productions internationally from all over the world including the U.S., Europe, Japan and South Korea

 Intercontinental Film Distribution Limited of IGHL is the sole sub- distributor in Hong Kong and Macau for Paramount Pictures International

 Over 220 films in the library

 Access to production licenses in mainland China  Solid cooperation relationship with the famous producer and first-class artists and TV stations  Experienced distribution team with solid relationship with major television network  Ex-TVB’s head of drama production, Mr. Tommy Leung (梁家樹), was with TVB for over 40 years and joined the Group in March 2014 as TV drama division head

 Actively organize and invest in live performances in HK and mainland China  Diversified live entertainment events including major pop concerts, touring shows and musicals  Over 5,000 songs in the music library, including some all-time hits from Leslie Cheung, Anita Mui and RomanTam  Significant collection of Andy Lau’s music containing over 600 songs and 250 MVs

 Represents and manages over 20 top Asian artists  Continuous efforts to develop new talents  In discussion with various managers and workshops of PRC artists

 In Aug 2013, eSun acquired No. of No. of an 85% interest in Attributable interest Screens Seats Intercontinental Group Cinema to eSun (Note 1) (Note 1) Holdings Limited (“IGHL”) Mainland China  Multiplex Cinema Limited Suzhou Grand Cinema City 100 10 1,440 (MCL), a subsidiary of IGHL Guangzhou May Flower Cinema City 100 7 606 established in 1982, is one Zhongshan May Flower Cinema City 100 5 905 of the major cinema operators in Hong Kong Subtotal 22 2,951

Hong Kong Movie Town (incl. MX4D theatre) 100 7 1,702 Festival Grand Cinema 85 8 1,196 MCL Metro City Cinema (Note 2) 85 7 957 MCL Telford Cinema (incl. MX4D theatre) 85 6 789 STAR Cinema 85 6 622 Grand Kornhill Cinema (incl. MX4D theatre) 85 5 706 MCL South Horizons Cinema 85 3 555 MCL Green Code Cinema 85 3 285 Grand Windsor Cinema 85 3 246 The Grand Cinema 25.5 12 1,566

Subtotal 60 8,624

Total 82 11,575 Note 1: On 100% basis Note 2: Renovation in phases is in progress and with effective from 1 November 2018, rental spaces of one cinema house will be handed back to th e landlord and the cinema will provide 694 seats in 6 houses.

For the year ended 31 July (HK$ million unless stated otherwise) 2018 2017 % change Turnover 1,804.0 1,808.1 0% - Property Investment 818.5 792.5 3% - Property Development 0.4 89.2 -100% - Restaurant Operations 514.0 481.5 7% - Hotel Operation and Others 471.1 444.9 6%

Gross Profit 1,066.7 1,054.3 1% Gross margin 59% 58%

Net Profit attributable to owners of the company - As reported 2,567.4 1,456.7 76% - Adjusted 71.2 135.8 -48%

Basic EPS (HK$) - As reported 6.686 3.824 75% - Adjusted* 0.185 0.357 -48%

Dividend per share (HK$) 0.0740 0.0685 8%

* Excluding the effect of property revaluations and non-recurring transactions which included reversal of provision for tax indemnity, employee share option benefits, loss on deemed disposal of interest in an associate and discount on acquisition of addition interest in an associate

(HK$million unless stated otherwise) As at 31 July 2018 As at 31 July 2017 % change Total assets 50,721.1 42,460.2 19%

Cash and bank balances 4,545.5 3,577.7 27%

Standalone cash and bank balances 205.7 630.3 -67% Interest bearing debt 13,172.9 11,540.1 14% Undrawn facilities 1,804.7 4,018.5 -55%

Standalone undrawn facilities 250.0 200.0 25% Equity attributable to owners of the company 19,837.3 18,037.4 10%

NAV per share (HK$) 51.507 47.223

Gearing Ratio

- Total Debt/Total Assets 26% 27%

- Net Debt/Equity 44% 44%

For the year ended 31 July (HK$'million unless stated otherwise) 2018 2017 % change Turnover 1,693.0 1,704.1 -1% - Property Investment 704.5 686.7 3% - Property Development 0.4 89.2 -100% - Restaurant Operations 514.0 481.5 7% - Hotel Operation and Others 474.1 446.7 6%

Gross Profit 970.3 968.1 0% Gross margin 57% 57%

Net Profit attributable to owners of the company - As reported 4,335.2 2,093.6 107% - Adjusted* 188.5 250.8 -25%

Basic EPS (HK$) - As reported 7.159 3.465 107% - Adjusted 0.311 0.415 -25%

Dividend per share (HK$) 0.108 0.100 8%

* Excluding the effect of property revaluations and non-recurring transactions which included reversal of provision for tax indemnity, loss on deemed disposal of interest in an associate and discount on acquisition of addition interest in an associate

(HK$'million unless stated otherwise)

As at 31 July 2018 As at 31 July 2017 % change

Total assets 46,702.9 38,441.0 21%

Cash and bank balances 4,339.8 2,947.4 47%

Interest bearing debt 12,003.3 9,637.2 25%

Undrawn facilities 1,554.7 3,818.5 -59%

Equity attributable to owners of the company 31,158.7 26,599.8 17%

NAV per share (HK$) 51.410 43.965

Gearing Ratio

- Total Debt/Total Assets 26% 25%

- Net Debt/Equity 25% 25%

For the year ended 31 July (HK$ million unless stated otherwise) 2018 2017 % change Turnover 2,183.9 2,677.4 -18% - Media and Entertainment 428.2 448.4 -5% - Film Production & Distribution 342.7 418.5 -18% - Cinema Operations 408.4 418.6 -2% - Property Development 184.6 624.6 -70% - Property Investment 760.0 696.3 9% - Corporate and others 60.0 71.0 -15%

Gross Profit 1,013.4 1,081.4 -6% Gross margin 46% 40%

Net Profit (loss) attributable to owners of the company - As reported 263.8 514.2 -49% - Adjusted* (108.2) 145.1 N/A

Basic EPS (HK$) - As reported 0.177 0.378 -53% - Adjusted (0.073) 0.107 N/A

* Excluding the effect of property revaluations

(HK$ million unless stated otherwise) As at 31 July 2018 As at 31 July 2017 % change Total assets 32,049.8 29,242.7 10% Cash and bank balances 3,209.8 3,304.6 -3% Standalone cash and bank balances 341.9 273.8 25% Interest bearing debt 8,199.0 6,525.3 26% Undrawn facilities 3,854.8 4,061.4 -5% Standalone undrawn facilities 302.8 533.4 -43% Equity attributable to owners of the company 9,259.5 9,118.2 2%

NAV per share (HK$) 6.207 6.112

Gearing Ratio - Total Debt/Total Assets 26% 22% - Net Debt/Equity 54% 35%

For the year ended 31 July (HK$'million unless stated otherwise) 2018 2017 % change Turnover 950.8 1,326.7 -28% - Property Investment 766.2 702.1 9% - Property Development 184.6 624.6 -70%

Gross Profit 679.3 664.2 2% Gross margin 71% 50%

Net Profit attributable to owners of the company - As reported 1,180.1 1,477.5 -20% - Adjusted* 629.1 987.9 -36%

Basic EPS (HK$) - As reported 3.615 4.547 -20% - Adjusted 1.927 3.040 -37%

Dividend per share (HK$) 0.20 0.20 0%

* Excluding the effect of property revaluations

(HK$'million unless stated otherwise)

As at 31 July 2018 As at 31 July 2017 % change

Total assets 28,228.3 25,220.3 12%

Cash and bank balances 2,437.9 2,628.4 -7%

Interest bearing debt 7,445.6 6,091.4 22%

Undrawn facilities 3,552.0 3,528.0 1%

Equity attributable to owners of the company 15,502.9 14,584.1 6%

NAV per share (HK$) 47.403 44.777

Gearing Ratio

- Total Debt/Total Assets 26% 24%

- Net Debt/Equity 32% 24%

The financial information included in this document does not constitute the Company’s statutory annual consolidated financial statements butderived from those financial statements. Further information relating to these statutory financial statements required to bedisclosed inaccordance with section 436 of the Companies Ordinance is as follows:

The Companyhas delivered, or will deliver in the case of the latest financial statements,all published financial statements to the Registrar of Companies as required bysection 662(3) of, and Part 3 of Schedule 6 to, the Companies Ordinance. Auditors’ reports have been prepared on those financial statements of the Group. The auditors’ reports were unqualified; did not include a reference to any matters to which the auditors drew attention by way of emphasis without qualifying its reports; and did not contain a statement under sections 406(2), 407(2) or(3) of the Companies Ordinance.

This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Lai Sung group of companies, comprising: Lai Sun Garment (International) Limited, Lai Sun Development Company Limited,eSun Holdings Limited, Lai Fung Holdings Limited and Media Asia Group Holdings Limited (each a "Company“ and together the “Group”) orany of its subsidiaries oraffiliates in any jurisdiction oran inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment orinvestment decision whatsoever. No representation, warranty orundertaking, express orimplied,is made as to, and no reliance should be placed on, the fairness,accuracy, completeness or correctness of the information or the opinions contained herein. None of the Group orany of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document orits contents or otherwise arising in connection with the document. This document is highly confidentialand beinggiven solely for your information and for your use and may not beshared, copied, reproduced orredistributed to anyother person inany manner.

This document contains "forward-looking statements", which include all statements other than statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group's control that could cause the actual results, performance orachievements of the Group to be materially different from future results, performance orachievements expressed or implied bysuch forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the economic, political and legal environment of Hong Kong and other countries the Group operations in, volatility instock markets or in the price of its shares, financial risk management and the impact of general business and globaleconomic conditions.

Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as atthe date as of which theyare made, and the Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto orany change in events, conditions orcircumstanceson which any such statements are based.

Neither the Group, nor anyof its agents, employees oradvisors intends orhasanyduty orobligation to supplement, amend, update orrevise anyof the forward-lookingstatements contained inthis document.

This document contains data sourced from and the views of independent third parties. In replicating such data in this document, the Group makes no representation, whether express or implied, as to the accuracy of such data. The replication of anyviews inthis document should benot treated as an indication that the Group agrees with orconcurs with such views.

The information contained inthis document isprovided as at the date of thisdocument and is subject to change without notice.