2017 Interim Result Presentation and Corporate Update

April 2017

1. Group Overview 2. Property Operations Update 3. 2017 Interim 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

. Member of the National Committee of Chinese People’s Political Consultative Conference (“CPPCC”) . Vice Chairman of Committee for Liaison with Hong Kong, Macau, Taiwan and Overseas Chinese (Special Committee of CPPCC) . 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$13.1 billion 45.65%* (42.37%**) Lai Sun Garment (International) Limited (“LSG”) Market Capitalisation# HK$3.2 billion Investment Holding HK Stock Code: 191 Total Assets: HK$39.5 billion

61.83%* (48.04%**) Lai Sun Development Company Limited (“LSD”) # HK$5.1 billion Property Development & investment in HK & Overseas Market Capitalisation Hotel Management & Hospitality HK Stock Code: 488 Total Assets: HK$35.5 billion 37.31%* (38.38%**)

eSun Holdings Limited (“eSun”) Market Capitalisation# HK$1.0 billion Media & Entertainment and Cinema Operations in HK and the PRC HK Stock Code: 571 Total Assets: HK$27.8 billion

67.56%* (51.09%**) 50.81%* (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$0.7 billion HK$1.4 billion HK$3.1 billion HK$23.5 billion

*Latest shareholding includes interests held by certain directors at LSD and eSun levels. LSG’s corporate interest in LSD is 61.75% and LSD’s corporate interest in eSun is 36.94% **Shareholding as at 31 July 2012 includes interests held by certain directors at LSD and eSun levels # As at 31 January 2017

2. Property Operations Strategy Update

. Further accretion of interest subject to the “creeper Strengthen  Group consolidated other than LSD/eSun 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

 LFH – conditional waiver approved; could JV with other Lai Sun group companies . HK – actively participating a number of tender  Successful tender/auction processes - HK: TKO site, Ocean Park Hotel, Ma Tau Kok site, Sai Wan Ho Street project and Ki . London – commenced planning application to Build pipeline Lung Street project redevelop adjacent sites - London: 107 Leadenhall, 100 Leadenhall and 106 Leadenhall . PRC – continually reviewing opportunities in Shanghai, Guangzhou, Zhongshan and Hengqin - PRC: Novotown (80/20 between LFH and eSun), Wuli Bridge project in Shanghai

 Growing rental income  CCB Tower, 8 Observatory Road project and Guangzhou Lai Fung Tower added to . Attributable rental GFA to be added in the next year Rental-focused the rental portfolio or two company  Bought out minorities in SHHK Plaza, GZMF Plaza, Northgate Plaza and SHMF Plaza ‒ HK : Ocean Park Hotel (c.366,000 sq.ft.)  Redevelopment of Northgate Plaza I, Northgate Plaza II and 6 floors of Hui Gong ‒ PRC : c.90,000 sq.ft. Building

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

24,358 25,074 22,663 20,775 Financial consolidation 19,128 mostly completed 16,358 16,453 16,988 13,796 11,959 * 12,576  Concentrate asset base 11,035 9,027  Stake accretion at steep 6,739** discount to book value creating gains to strengthen balance sheet further 31 Jul 31 Jul 31 Jul 31 Jul 31 Jul 31 Jul 31 Jan 31 July 31 July 31 July 31 July 31 July 31 Jul 31 Jan 2011 2012 2013 2014 2015 2016 2017 2011 2012 2013 2014 2015 2016 2017

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: 573,400 sq.ft. - 458,900 sq. ft. for residential use - 114,500 sq.ft. for commercial use  Usage : residential and commercial  Expected completion: Q1 2018  Expected attributable investment: HK$3 billion  Pre-sale launched in October 2016  Up to 19 March 2017, the Group has pre-sold 472 units with saleable area of approximately 259,100 square feet at an average selling price of approximately HK$14,700 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 in maximum  Total GFA: 366,000 sq.ft.  Expected investment: HK$4.4 billion  Marriot as hotel operator and manager  Development agreement signed in December 2014  Expected completion and opening: Q4 2017

MTR Station (expected to complete in 2016)

Ocean Park Ocean Park Ocean Park Hotel

 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  Expected total development cost: HK$1.0 billion  Expected completion: Q1 2018  209 residential units  Pre-sale launched in September 2016  Up to 19 March 2017, the Group has pre-sold 168 units with saleable area of approximately 58,000 square feet at an average selling price of approximately HK$15,900 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. 61,100 sq.ft.  Expected total development cost: HK$0.9 billion  144 residential units  Expected completion: Q4 2019

 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  Expected completion: Q1 2020

 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

 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 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 12,700 square feet net internal area of offices including ancillary space

 DP9, one of the leading professional consultancies in planning, development and regeneration in the United Kingdom has been appointed to advise on the redevelopment of the site comprising 100, 106 and 107 Leadenhall

 Skidmore, Owings & Merrill has also been engaged as architect for this project.

107 Leadenhall 100 Leadenhall

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

Hong Kong 56.7 million visitors in 2016

Macau 31.0 million visitors in 2016

 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 Vegas” Our Site – Novotown Macau of Asia together with University 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

L AI S UN G ROUP 麗新集團 21 Lai Sun Group © All rights reserved Build Pipeline - Hengqin Novotown (80%-LFH; 20%-eSun, the PRC) – Sep 2013 (cont’d) Hengqin Novotown  MOU entered into in Sep 2011  Site area : One square kilometre

Phase I - 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)  Expected total investment: RMB3 billion  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

Site under 2011 Sep MOU

Phase I

Phase I GFA (sq.ft.)

Cultural Cultural Cultural themed hotel 590,200 workshop themed hotel Cultural workshop 429,600

Cultural commercial area (podium) 523,800 Office Cultural commercial area (podium) Performance halls 168,000

Cultural attractions 286,300

Office 542,400 Performance halls & cultural attractions Cultural studios (for sale) 250,600

Car-parking spaces 593,800

Cultural studios Ancillary facilities and others 835,300 (for sale) Total 4,220,000

 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.

 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 Gamers, The Twilight Saga, The Divergent Series, Now you See Me, Gods of Egypt and Escape Plan through exciting interactive and immersive attractions.

 Licensing agreements being entered into in Nov 2015with 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 48,400 square feet, containing no less than 5 individual attractions including rides, F&B facilities, retail premises, virtual reality and/or 4-D interactive experiences, and other types of entertainment & educational attractions

 Hyatt being engaged as  Entered into cooperation framework agreement in April 2016 with Kwoon Chung Bus the manager for the to develop a cross-border bus service between HK and Hengqin cultural themed hotel in March 2015 . The 490-  The Hall of Inspiration is room Hyatt Regency Hotel a multi-purpose venue provides comfortable and for a wide spectrum of cozy accommodation for events, including fashion visitors’ stay at shows, gala dinners, TV Novotown. 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,  Healthcare and Beauty Cultural Center, with an approximate size of 86,000 square feet, endeavors to offer comprehensive medical body check-up, beauty consultation, wedding banquet, and wellness services.

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. 83,200 sq.ft. Jing’an District  Types of products: high end luxury residential units People’s  Estimated development cost: RMB830 million Square  Expected completion: Q4 2018 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 Hui Gong Building together under a comprehensive redevelopment plan Northgate Plaza II  The redeveloped project will include an office tower, a shopping arcade and underground car-parking spaces

 The Group is currently finalising the redevelopment proposal with professional consultants and local authorities

 Northgate Plaza I has been vacated. Demolition has commenced and is expected to be completed before the end of financial year 2016/17

 The Group expects to receive the building approval from local authorities in the second half of 2017 and construction works will commence afterwards

 The overall development has a total planned GFA of approximately 8.016 million sq.ft., comprise of high-rise residential towers, townhouses, serviced apartments and commercial

 During the period under review, 29,254 square feet of house units were recognised at average selling prices of HK$1,529 per square foot

 As at 31 January 2017, contracted but not yet recognised sales for high-rise residential units and houses amounted to HK$534.8 million and HK$24.1 million, at average selling prices of HK$786 and HK$1,704 per square foot, respectively.

 As at 31 January 2017, completed units held for sale in this development amounted to 22,600 square feet with a carrying amount of approximately HK$22.9 million.

 The remaining GFA under development was approximately 3,306,300 square feet

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

Ib High –rise residential units 980,100 Q2 2017

II Townhouses 201,500 Q3 2017

III High-rise residential units 548,500 Q3 2020

IV High-rise residential units 1,576,200 Q1 2022

 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 5.9 million sq.ft., comprising approximately 2,796 low-rise and high-rise residential units

 The project is divided into five phases of development. Phase I comprising 8 high-rise residential blocks has been sold out. During the period under review, 412,243 square feet attributable to LFH was recognised and generated attributable sale proceeds of HK$942.1 million

 As at 31 January 2017, contracted but not yet recognised sales excluding car-parking spaces amounted to HK$1,012.2 million at average selling prices of HK$2,736

 Constructions of this project have been completed except for the commercial units with a total GFA of approximately 19,400 square feet that are currently used as a sales centre. These commercial units are expected to be refurbished for sale by end of 2017

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 Ocean Park Hotel LFH’s SH HK LFH’s GZ MF LFH’s NG Plaza Continued accretion project Plaza 5% Plaza 22.5% 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

eSun LSD won URA’s Sai LSD Completion of LSD’s LSD acquired 49.96% Placing of new LFH & LSG LSD completed site Wan Ho Street HK$3.6bn term HK$924.3m rights issue and interest in Camper & shares under change in board amalgamation for Ki project in Shau loan for Ocean LSG’s interest in LSD Nicholsons International SA general mandate lot size Lung Street project Kei Wan by tender Hotel project increased to 61.93%

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

8.893

6.645

81%

88% 1.660 80% 76% 0.829 0.800 0.799 0.167 0.192

LSG LSD eSun LFH

For the year ending 31 July 2017

Oct-16 Post results non-deal roadshow DBS Hong Kong

Nov-16 Post results non-deal roadshow DBS Singapore

New York/Philadelphia/ Nov-16 Post results non-deal roadshow Daiwa Los Angeles/San Francisco

Nov-16 Post results non-deal roadshow Daiwa London/Amsterdam/Zurich

Analyst Coverage Publication Firm Covered Company Analyst Date

HSBC LSD Keith CHAN 24 Oct-16

Credit Suisse LFH Daniel TAM 3 Nov-16

DBS LSD Jeff YAU, Ian CHUI 24 Mar-17

The Lam Family Mr. Yu Cheuk Yi & Ms. Yu Siu Yuk 45.65%* (42.37%**) Lai Sun Garment (International) Limited (“LSG”) 27.01%# Investment Holding HK Stock Code: 191

61.83%* (48.04%**) Lai Sun Development Company Limited (“LSD”) # Property Development & investment in HK & Overseas 7.03% Hotel Management & Hospitality HK Stock Code: 488 SAIF Partners – 10.05% 37.31%* (38.38%**)

eSun Holdings Limited (“eSun”) Media & Entertainment and Cinema Operations in HK and the PRC HK Stock Code: 571 CapitaLand - 20% Third Avenue Management – 7.39%#

67.56%* (51.09%**) 50.81%* (47.87%**)

Media Asia Group Holdings Limited Lai Fung Holdings Limited (“LFH”) 5.14%# 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 is61.75% and LSD’s corporate interest in eSun is 36.94% **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 35 Lai Sun Group © All rights reserved Operations Update Hong Kong and London – replenishing landbank Major assets in LSD: 2,435 Hong Kong:  CSW Plaza 2,069  CWB Plaza II 366  Awarded the tender of the  Lai Sun Comm Cen. Ocean Hotel (approx. GFA  CCB Tower 366,000 sq. ft.) at Ocean Park  8 Observatory Road United Kingdom:  Actively reviewing sites to 1,322 1,322 expand portfolio  107 Leadenhall Street  100 Leadenhall Street

(‘000 (‘000 sq.ft.)  36 Queen Street  106 Leadenhall Street

Attributable rental GFA GFA rental Attributable Vietnam: 398 398  Caravelle Hotel 98 98 Major assets in LSG: 251 251  Crocodile Center  Por Yen Building 31-Jan-17 FY 2018 398  Existing pipeline completed 93 Pau Chung Street 111 - 339 Tai Hang Road - Ocean One – commercial area

 Alto Residences, 93 Pau Chung Street, URA’s Sai Wan Hoi Street and Ki Lung Street 104 Ki Lung Alto Residences 287 project add near term growth (‘000 sq.ft.) (‘000 Sai Wan Ho Street project  339 Tai Hang Road 37 43 Street project  Continue efforts to secure new projects  Ocean One-commercial 27 61 10 Attributable saleable GFA Attributable 31-Jul-16 FY 2018 FY2020

Rental turnover and building management fee (HK$’million) The year ended 31 Jan 2017 2016 LSG Crocodile Center 46.1 42.6 +8.2% Por Yen Building 7.8 7.4 +5.4% Others 0.7 1.3 -46.2% LSG Subtotal: 54.6 51.3 +6.4%

LSD Hong Kong Cheung Sha Wan Plaza 151.5 150.1 +0.9% Causeway Bay Plaza 2 90.2 88.3 +2.2% Lai Sun Commercial Centre 29.3 29.6 -1.0% Subtotal: 271.0 268.0 +1.1% London, United Kingdom 36 Queen Street 11.5 13.4 -14.2% 107-112 Leadenhall Street 22.8 26.2 -13.0% 100 Leadenhall Street 31.6 36.5 +13.4% 106 Leadenhall Street 2.7 0.6 +350.0% Subtotal: 68.6 76.7 -10.6% Others 6.2 5.6 +10.7% Total: 345.8 350.3 -1.3%

CCB Tower (50% basis)* 60.4 55.0 +9.8% 8 Observatory Road (50% basis)* 26.3 8.6 +205.8% LSD Subtotal: 432.5 413.9 +4.5%

LSD & LSG Total: 487.1 465.2 +4.7% * Recognised as share of profits from joint ventures

L AI S UN G ROUP 麗新集團 37 Lai Sun Group © All rights reserved Operations Update PRC – growing the rental portfolio… FY 2017 FY 2019 FY 2021 FY 2022 Properties to be Properties to be Properties to be added: Properties to be added: added:  Northgate Plaza added:  Palm Spring  Hengqin redevelopment project  Commercial Rainbow Mall Novotown*  Haizhu Plaza portion of Palm (part)  Commercial portion of Spring Phase IV  Commercial Palm Spring Phase III portion of Palm Spring Phase Ib 7,168 7,262 5,802 94 1,366 ** 508 ** **

3,262 # 3,173 2,032 7,168 90 5,802 5,802

3,172 3,172 3,262 3,262

31-Jan-17 FY 2017 FY 2018 FY2019 FY 2020 FY 2021 FY 2022

Existing Newly completed rental properties to be added Attributable rental GFA (‘000 sq.ft.) *Including 100% Novotown, excluding the for-sale portion of cultural studios with a total GFA of approximately 250,600 sq.ft. ** GFA attributable to eSun (excluding car-parking spaces and ancillary facilities) # excluding car-parking spaces and ancillary facilities

Rental turnover (HK$’million) Six months ended 31 January Six months ended 31 January 2017 2016 2017 2016 (HK$ million) (HK$ million) (RMB million) (RMB million) @0.8762 @0.8285 Shanghai Shanghai Hong Kong Plaza 201.3 197.6 +1.9% 176.4 163.7 +7.8% Shanghai May Flower Plaza 37.8 34.7 +8.9% 33.1 28.7 +15.3% Shanghai Regents Park 7.0 6.6 +6.1% 6.1 5.5 +10.9% Shanghai Northgate Plaza I* - 4.1 -100.0% - 3.4 -100.0% Subtotal: 246.1 243.0 +1.3% 215.6 201.3 +7.1% Guangzhou Guangzhou May Flower Plaza 55.8 54.6 +2.2% 48.9 45.2 +8.2% Guangzhou Lai Fung Tower 30.3 - N/A 26.5 - N/A Guangzhou West Point 9.1 8.7 +4.6% 8.0 7.2 +11.1% Subtotal: 95.2 63.3 +50.4% 83.4 52.4 +59.2% Zhongshan Zhongshan Palm Spring 4.5 3.8 +18.4% 4.0 3.2 +25.0% Subtotal: 4.5 3.8 +18.4% 4.0 3.2 +25.0% Total: 345.8 310.1 +11.5% 303.0 256.9 +17.9%

* All tenants have been vacated for project redevelopment and demolition is in progress

L AI S UN G ROUP 麗新集團 39 Lai Sun Group © All rights reserved Operations Update PRC – steady build-for-sale pipeline; replenishing land bank # FY2017 FY2018 FY2019 FY2021 FY2022 Land bank as at 31 Jan 2017 – 7.5 million sq. ft. Completion : Completion : Completion : Completion : Completion :  Residential  Residential  Shanghai  Residential  Residential Shanghai portion of portion of Wuli Bridge portion of portion of Hengqin 11% Palm Spring Palm Spring project Palm Palm 37% Phase Ib Phase II  Cultural Spring Spring Guangzhou 8%  Dolce Vita – studios of Phase III Phase IV Phase V Hengqin Novotown Zhongshan For Sale For 44% 46% Rental 54%

Project completed for sale as at 31 Jan 2017 1,482 455,600 sq. ft.***

959 50 ** 456* 486 Zhongshan 5% 211 285 Guangzhou 31-Jan-17 FY 2017 FY 2018 FY2019 FY 2020 FY 2021 FY 2022 95% Attributable saleable GFA (‘000 sq.ft.) # Including 100% Hengqin Novotown *Excluding commercial portion of the Zhongshan Palm Spring which will be reclassified as completed properties held for rental purposes as it is being leased out over time and Guangzhou Paramount Centre which is subject to the asset swap transaction that is now pending for completion. ** 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 which will be reclassified as completed properties held for rental purposes as it is being leased out over time and Guangzhou Paramount Center which is subject to the asset swap transaction that is now pending for completion

L AI S UN G ROUP 麗新集團 40 Lai Sun Group © All rights reserved Operations Update PRC – contracted but not recognised sales Approximate GFA Average Selling Price# Turnover# No. of units As at 31 January 2017 Square feet HK$/square foot HK$ million Guangzhou Eastern Place Residential Units - Phase V 3 3,114 6,615 20.6 Zhongshan Palm Spring Residential High-rise Units 547 680,443 786 534.8 Residential House Units 5 14,142 1,704 24.1 Sub-total 555 697,699 831 579.5 Guangzhou King's Park Car-parking Spaces 3 N/A N/A 1.9 Sub-total 581.4

Contracted sales from joint venture project Guangzhou Dolce Vita Residential Units (47.5% basis) 228 369,967 2,736 1,012.2 Car-parking Spaces (47.5% basis) 22 N/A N/A 8.1 Sub-total 1,020.3

Total (excluding car-parking spaces) 783 1,067,666 1,491 1,591.7

# Before business tax and value-added tax inclusive

3. Full-year Results 2015 Highlights

HK$ million unless specified otherwise

Revenue Profit /(loss) attributable to owners of the company (EPS) Key drivers (% Change)

Incl. property : HK$673.8 million (HK$0.355) +19%  Steady performance from rental properties in Hong Kong and lower contribution of revaluation LSG HK$872.0 -23% London portfolio due to sterling depreciation post Brexit; rental revenue -0.3% Excl. property : HK$48.4 million (HK$0.026) -51%  Overall performance dominated by LSD revaluation

Incl. property  Steady performance from rental properties in Hong Kong and lower contribution of : HK$913.1 million (HK$0.030) -10% revaluation London portfolio due to sterling depreciation post Brexit; rental revenue +1.3% LSD HK$818.4 -24%  No turnover from sales of property being recognised during the period under review Excl. property  Contributions from restaurant operations being boosted by newly opened restaurants : HK$80.0 million (HK$0.003) -60% revaluation  Decrease in reported net profit primarily due to absence of sales of projects

Incl. property : HK$ 27.6 million (HK$0.022) -17% revaluation  Turnover decreased due to less turnover from sale of properties of Lai Fung eSun HK$1,164.5 -18%  Reported net profit decreased due to weaker performance of media and entertainment Excl. property (Loss: HK$37.3million) businesses and cinema operations : N/A revaluation (Loss: HK$0.030)

Incl. property  Encouraging performance from rental portfolio driven by addition of Guangzhou Lai : HK$336.4 million (HK$0.021) +11% revaluation Fung Tower but suffered from currency translation against a depreciating Renminbi ; rental revenue +11.5%; RMB denominated rental revenue +17.9% LFH HK$479.0 -43%  Sales revenue drop due to fewer properties being available for sale during the period under review; sales revenue -74.6%; RMB denominated sales revenue -73.1% Excl. property : HK$246.3 million (HK$0.0152) +83%  Reported net profit increased due to increased profit contribution from the sale of revaluation Z Guangzhou Dolce Vita, recognised as a component of “Share of profits of joint ventures”

Cash and bank balance as at 31 January 2017 (HK$’million) Consolidated: 3,582 2,857 3,307 2,601 Ex-listed subs: 725 N/A 285 N/A

39.6% 38.30% 30.8% 21.8% 25.0% 15.8% 25,074.3 (HK$0.829)

16,988.4 (HK$8.893) 13,016.8 (HK$0.799) 8,261.5 (HK$6.645)

LSG LSD eSun LFH

Net Assets (in HK$' million) and Net Asset Value ("NAV") per share (in HK$) as at 31 January 2017 Net Debt to Equity ratio as at 31 January 2017 Gearing ratio excluding London portfolio

GFA by type as at 31 January 2017 (‘000 sq.ft.) By type

Commercial No. of Completed Hotel Office Industrial Residential Hotel Total / Retail carparks Properties and Serviced Apartments Lai Sun Garment 4%

Completed properties held for 91 - 160 - - 251 38 Rental Properties Under Completed Development properties held 29% for Rental Lai Sun Development 66% Completed Completed properties held for properties for Sale 485 1,172 64 - - 1,721 1,027 Rental 1%

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

Properties Under Development 79 - 423 366 868 196 Hotel - 16% Commercial Residential 23% Completed properties for Sale 27 - 10 - 37 15% - 11

Lai Sun Development Office 591 1,172 64 433 464 2,724 1,234 Total GFA Industrial 39% 7%

L AI S UN G ROUP 麗新集團 46 Lai Sun Group © All rights reserved Note: The above table excludes GFA held by Lai Fung Holdings Limited Major Rental PropertiesProperty Development & Investment – Hong in Hong Kong &Kong Overseas Prime commercial areas in Hong Kong

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

Major tenants: HSBC’s branch and commercial offices, McDonald’s, Maxim’s Caterers, Institute of Financial Planners, Monster Sushi , Baby Café, Tack Hsin Restaurant, Tai Woo Seafood Restaurant, Giormani, Wall Street Institute

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: U-Banquet, Great Chinatown Seafood Restaurant, Wong Shing Banquet Hall, The Graces Garden, V Cuisine, Paramount Banquet Hall, Banquet Icon

8 Observatory Road, Kowloon

Project Particulars:

• 50:50JV with Henderson Land

• The development is targeted to replenish the limited office supply in the area

• Total GFA: 165,200 sq.ft.

• 22-storey including basement

• 4-storey of retail, 6-storey of restaurants and 9-storey of leasable office

• Fully leased

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 • 7 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: 573,400 sq.ft.

• Estimated development cost: HK$6 billion

• 605 flats, including 23 detached houses

• Expected to complete in Q1 2018

• Pre-sale launched in October 2016

Projects under development 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

• Expected completion: Q4 2017

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

• Expected completion: Q1 2018

• Pre-sale launched in September 2016

Sai Wan Ho Street project (100%) Project Particulars:

• Site area: approx. 7,600 sq. ft.

• Permitted gross floor area: approx. 61,100 sq.ft.

• Expected total development cost: HK$0.9 billion

• 144 residential units

• Expected completion: Q4 2019

Ki Lung Street project (100%) Project Particulars:

• 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: Q1 2020

36 Queen Street (100%) • located at the core of the financial district in the City in central London • Comprises approximately 60,800 square feet of office accommodation extending over basement, ground and six upper floors • Comprehensive refurbishment work was completed in 2013 and it is currently fully leased out

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 ACE Global Markets Limited

L AI S UN G ROUP 麗新集團 60 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 12,700 square feet net internal area of offices space

107 Leadenhall 100 Leadenhall

106 Leadenhall

By type Completed Total GFA of major properties in the PRC: 11.3 million sq.ft.* Properties Held for Sale 5% Shanghai Properties Under Guangzhou Attributable GFA Development Completed Properties Attributable GFA ('000 sq.ft.) 67% held for rental ('000 sq.ft.) Rental properties held for rental 1,227 23% Hotel properties and serviced Rental properties held for rental 1,235 499 Completed Hotel Hotel properties and serviced apartments Properties and Serviced - apartments Properties under development 786 Apartments 5% Properties under development 612 Completed properties held for sale - Completed properties held for sale 515 Total GFA 2,512 By asset class Total GFA 2,362 Residential Commercial / 33% Zhongshan Shanghai Retail Attributable GFA 27% ('000 sq.ft.) Serviced Apartments Rental properties held for rental 112 14% Hotel properties and serviced 99 Office apartments 26% Properties under development 3,306 Completed properties held for sale 92 By geography Guangzhou Total GFA 3,609 Zhongshan Hengqin Shanghai Hengqin 25% 22% Attributable GFA ('000 sq.ft.) Guangzhou Properties under development 2,791 Zhongshan 21% Hengqin 32% Total GFA 2,791

*Including 100% Hengqin Novotown

GFA by type as at 31 January 2017(‘000 sq.ft.) Commercial / Serviced No. of Office Residential Total Retail Apartments carparks eSun

2 Properties Under Development 196 158 204 - 558 -

Lai Fung

1 Completed Properties held for rental 1,609 966 - - 2,575 695

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

2 Properties Under Development 1,162 1,746 816 3,214 6,938 5,056

Completed Properties Held for Sale 793 76 452 607 1,320

Lai Fung 2,850 2,788 1,414 3,666 10,718 7,071 Total GFA

1. Completed and rental generating properties 2. All properties under construction 3. Completed properties for sale, including 69,000 sq.ft. of shopping arcade space in Zhongshan Palm Spring which is expected to be reclassified as completed properties held for rental purpose as it is being leased out over time

• 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 – Jan 2017 • Retail 98.2%, Office 96.6%, Serviced Apartment 67.4%

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

L AI S UN G ROUP 麗新集團 66 Lai Sun Group © All rights reserved Major RentalMajor Properties Rental Properties - PRC – PRC Mayflower Plaza and West Point, Guangzhou May Flower Plaza and West Point, Guangzhou

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 – Jan 2017 (100%) • Retail 98.0% Building Specification: • Retail podium/ Carparks Major Tenants • Total GFA: 172,000 sq.ft. Ochirly, Five Plus, Perfect Shape, Pizza • Retail 172,000 sq.ft. Hut, KFC, Rop Pon Gi, Made in Kitchen, Leasing condition – Jan 2017 Zhen Garden • Retail: 97.8% Major Tenants Tao Heung Restaurant, Bossini, Café De Coral, Baleno and its related brand

Lai Fung Tower, Guangzhou (100%)

Building Specification:

• 38-storey office building

• Total GFA: 626,200 sq.ft.* - Retail 100,700 sq.ft. - Office 525,500 sq.ft. - 209 carparks

Leasing condition – Jan 2017

• Retail 100.0%

• Office 81.8%

*Excluding GFA subject to the asset swap transaction with Guangzhou Light Industry Real Estate Limited as announced by Lai Fung on 15 January 2015

L AI S UN G ROUP 麗新集團 68 Lai Sun Group © All rights reserved Major DevelopmentMajor Development Properties Properties - PRC – PRC Key projects under development and being sold Key projects under development and being sold

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 5.9 million sq.ft., comprising approximately 2,796 low-rise and high-rise residential units

 As at 31 January 2017, contracted but not yet recognised sales excluding car-parking spaces amounted to HK$1,012.2 million at average selling prices of HK$2,736

Palm Spring, Zhongshan (100%)

 The overall development has a total planned GFA of approximately 8.016 million sq.ft., comprise of high-rise residential towers, townhouses, serviced apartments and commercial blocks totaling 6.04 million sq.ft.

 During the period under review, 29,254 square feet of house units were recognised at average selling prices of HK$1,529 per square foot

 As at 31 January 2017, completed units held for sale in this development amounted to 22,600 square feet with a carrying amount of approximately HK$22.9 million.

 The remaining GFA under development was approximately 3,306,300 square feet

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

Ib High –rise residential units 980,100 Q2 2017

II Townhouses 201,500 Q3 2017

III High-rise residential units 548,500 Q3 2020

IV High-rise residential units 1,576,200 Q1 2022

Phase I - 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 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.  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  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

L AI S UN G ROUP 麗新集團 71 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. 84,600 sq.ft.  Types of products: high end luxury residential units People’s  Expected completion: 2018 Q4 Jing’an District Square

Huangpu District

Xuhui District Pudong New District

The land parcel

L AI S UN G ROUP 麗新集團 72 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

 The Group is currently finalising the redevelopment proposal with professional consultants and local authorities

 Northgate Plaza I has been vacated. Demolition has commenced and is expected to be completed before the end of financial year 2016/17

 The Group expects to receive the building approval from local authorities in the second half of 2017 and construction works will commence afterwards

Current : 1,291 rooms

STARR Resort Residence Zhongshan 90 rooms Soft-opened August 2013

STARR Hotel Shanghai 287* rooms Soft-opened in November 2013

STARR Xin Hotel, Guangzhou 82 rooms Soft-opened Q2 2014 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** *Including 239 rooms being classified as hotel property, and 48 units sold with management contracts **Franchising only L AI S UN G ROUP 麗新集團 75 Lai Sun Group © All rights reserved Restaurant OperationsHospitalityHPropertyotel Management Development & Investment in Hong Kong & Overseas Acclaimed Michelin starred restaurants Chinese Cuisine

• China Tang Hong Kong Landmark

• China Tang Harbour City

• Howard’s Gourmet

• Chiu Tang Central

• Chiu Tang Wanchai

• Tang2 China Tang Hong Kong Landmark Kowloon Tang • Old Bazaar Kitchen

China Tang Harbour City Howard’s Gourmet

L AI S UN G ROUP 麗新集團 76 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 (Three Michelin stars (2012-2017))

• Otto e Mezzo, BOMBANA (Shanghai) (Two Michelin stars (2017))

• Opera BOMBANA (Beijing)

• CIAK – In The Kitchen (One Michelin star (2015-2017)) 8 ½ Otto e Mezzo, BOMBANA Beefbar, Hong Kong • CIAK – All Day Italian (Michelin Bib Gourmand (2017)) • Beefbar (One Michelin star (2017))

• Operetta

CIAK – In The Kitchen Operetta Opera BOMBANA 8 ½ Otto e Mezzo, BOMBANA (Beijing) (Shanghai)

L AI S UN G ROUP 麗新集團 77 Lai Sun Group © All rights reserved Restaurant OperationsHospitalityHPropertyotel Management Development & Investment(cont’d) in Hong Kong & Overseas Acclaimed Michelin starred restaurants

Japanese Cuisine

• Wagyu Takumi (One Michelin star (2017))

• Wagyu Kaiseki Den (One Michelin star (2010-2017))

• Rozan

Wagyu Takumi Wagyu Kaiseki Den Rozan

Appendix IV – Media and Entertainment

 Produced and co-produced more than 100 Chinese-language films over last 10 years The most diversified leading  Organised over 1000 concerts and shows since Chinese-language entertainment 2001 provider in Asia  Published over 300 titles of albums since 2001

 Representing and managing over 50 leading talents in Asia

 Over 190 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

 Mr. Gordon Chan Ka-Seung, well-known director and producer and Chairman of the HK Film Awards Association, joined the Group in Feb 2014 as head of film division

 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 190 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 Attributable interest No. of No. of an 85% interest in Cinema to eSun screens seats Intercontinental Group Mainland China Holdings Limited (“IGHL”) Guangzhou May Flower Cinema City 100 7 606  Multiplex Cinema Limited Zhongshan May Flower Cinema City 100 5 905 (MCL), a subsidiary of IGHL MCL Cinema City in Shekou 85 5 629 established in 1982, is one MCL Cinema City in Luohu 85 5 529 of the major cinema operators in Hong Kong Subtotal 22 2,669

Hong Kong Festival Grand Cinema 85 8 1,196 MCL Metro City Cinema 85 7 957 MCL Telford Cinema 85 6 819 STAR Cinema 85 6 622 MCL Kornhill Cinema 85 5 706 MCL South Horizons Cinema 85 3 555 MCL Green Code Cinema (opened on 21 January 2017) 85 3 285 Grand Windsor Cinema 85 3 246 MCL JP Cinema 85 2 658 The Grand Cinema 25.5 12 1,566

Subtotal 55 7,610

Total 77 10,279

For the six months ended 31 January (HK$ million unless stated otherwise) 2017 2016 % change Turnover 872.0 1,133.9 -23% - Property Investment 400.4 401.6 0% - Property Development 0.0 384.3 -100% - Restaurant Operations 248.7 134.7 85% - Hotel Operation and Others 222.9 213.3 5%

Gross Profit 531.1 605.4 -12% Gross margin 61% 53%

Net Profit attributable to owners of the company - excluding the effect of property revaluations 48.4 98.8 -51% - including the effect of property revaluations 673.8 564.4 19%

Basic EPS (HK$) - excluding the effect of property revaluations 0.026 0.052 -50% - including the effect of property revaluations 0.355 0.298 19%

(HK$ million unless stated otherwise) As at 31 January 2017 As at 31 July 2016 % change Total assets 39,494.0 38,436.4 3% Cash and bank balances 3,582.0 3,306.9 8% Standalone cash and bank balances 725.0 736.0 -1% Interest bearing debt 10,304.7 10,120.5 2% Undrawn facilities 5,773.4 6,215.0 -7% Standalone undrawn facilities 100.0 100.0 0% Equity attributable to owners of the company 16,988.4 16,453.3 3%

NAV per share (HK$) 8.893 8.686

Gearing Ratio - Total Debt/Total Assets 26% 26% - Net Debt/Equity 40% 41%

For the six months ended 31 January (HK$ million unless stated otherwise) 2017 2016 % change Turnover 818.4 1,082.9 -24% - Property Investment 345.8 350.3 -1% - Property Development - 384.3 -100% - Restaurant Operations 248.7 134.7 85% - Hotel Operation and Others 223.9 213.6 5%

Gross Profit 484.5 571.2 -15% Gross margin 59% 53%

Net Profit attributable to owners of the company - excluding the effect of property revaluations 80.0 199.7 -60% - including the effect of property revaluations 913.1 1,013.1 -10%

Basic EPS (HK$) - excluding the effect of property revaluations 0.003 0.010 -70% - including the effect of property revaluations 0.030 0.049 -39%

(HK$ million unless stated otherwise) As at 31 January 2017 As at 31 July 2016 % change Total assets 35,505.7 34,553.4 3% Cash and bank balances 2,857.0 2,570.9 11% Interest bearing debt 8,317.4 8,111.6 3% Undrawn facilities 5,673.4 6,115.0 -7% Equity attributable to owners of the company 25,074.3 24,357.7 3%

NAV per share (HK$) 0.829 0.808

Gearing Ratio - Total Debt/Total Assets 23% 23% - Net Debt/Equity 22% 23%

For the six months ended 31 January (HK$ million unless stated otherwise) 2017 2016 % change Turnover 1,164.5 1,411.8 -18% - Media and Entertainment 239.2 247.8 -3% - Film Production & Distribution 220.2 123.2 79% - Cinema Operations 189.6 155.4 22% - Property Development 133.2 523.5 -75% - Property Investment 342.8 307.4 12% - Corporate and others 39.5 54.5 -28%

Gross Profit 606.2 621.4 -2% Gross margin 52% 44%

Net Profit (loss) attributable to owners of the company - excluding the effect of property revaluations (37.3) (51.0) N/A - including the effect of property revaluations 27.6 33.3 -17%

Basic EPS (HK$) - excluding the effect of property revaluations (0.030) (0.041) N/A - including the effect of property revaluations 0.022 0.027 -19%

(HK$ million unless stated otherwise) As at 31 January 2017 As at 31 July 2016 % change Total assets 27,754.0 28,401.8 -2% Cash and bank balances 3,306.8 4,365.6 -24% Standalone cash and bank balances 284.5 303.0 -6% Interest bearing debt 6,483.1 6,479.9 0% Undrawn facilities 3,964.5 3,865.6 3% Standalone undrawn facilities 328.1 289.4 13% Equity attributable to owners of the company 8,261.5 8,599.3 -4%

NAV per share (HK$) 6.645 6.917

Gearing Ratio - Total Debt/Total Assets 23% 23% - Net Debt/Equity 38% 25%

For the six months ended 31 January (HK$ million unless stated otherwise) 2017 2016 % change Turnover 479.0 833.6 -43% - Property Investment 345.8 310.1 12% - Property Development 133.2 523.5 -75%

Gross Profit 340.4 470.5 -28% Gross margin 71% 56%

Net Profit attributable to owners of the company - excluding the effect of property revaluations 246.3 134.9 83% - including the effect of property revaluations 336.4 303.2 11%

Basic EPS (HK$) - excluding the effect of property revaluations 0.0152 0.0084 81% - including the effect of property revaluations 0.021 0.019 11%

(HK$ million unless stated otherwise) As at 31 January 2017 As at 31 July 2016 % change Total assets 23,463.1 23,899.6 -2% Cash and bank balances 2,600.6 3,612.6 -28% Interest bearing debt 5,858.8 5,977.4 -2% Undrawn facilities 3,636.4 3,576.2 2% Equity attributable to owners of the company 13,016.8 13,314.8 -2%

NAV per share (HK$) 0.799 0.822

Gearing Ratio - Total Debt/Total Assets 25% 25% - Net Debt/Equity 25% 18%

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.