Hang Lung Group Limited — Capital/Financing Update 2021

Dec 3, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PCCW Limited

電訊盈科有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 0008)

COMPLETION OF DISCLOSABLE TRANSACTION IN RELATION TO SALE OF DATA CENTER BUSINESS

Reference is made to the announcement of PCCW Limited (the "Company") dated July 26, 2021 (the "Announcement") in relation to the proposed sale of the Company's Data Center Business. Unless defined herein or the context otherwise requires, capitalised terms and expressions used in this announcement shall have the respective meanings given to them in the Announcement.

The Data Center Business comprises the provision of carrier-neutral colocation services carried on at the date of the SPA by Powerbase HK and DC Malaysia.

The Company is pleased to announce that Completion of the Transaction took place on December 3, 2021 in accordance with the terms of the SPA. Following Completion, Powerbase HK and DC Malaysia have ceased to be subsidiaries of the Company and their financial results will no longer be consolidated into the Company's consolidated financial statements.

By order of the board of

PCCW Limited

Cheung Hok Chee, Vanessa

Group General Counsel and Company Secretary

Hong Kong, December 3, 2021

As at the date of this announcement, the Directors are as follows:

Executive Directors

Li Tzar Kai, Richard (Chairman); Srinivas Bangalore Gangaiah (aka BG Srinivas) (Group Managing Director); Hui Hon Hing, Susanna (Group Chief Financial Officer) and Lee Chi Hong, Robert

Non-Executive Directors

Tse Sze Wing, Edmund, GBS; Li Fushen (Deputy Chairman); Mai Yanzhou; Zhu Kebing and Wei Zhe, David

Independent Non-Executive Directors

Aman Mehta; Frances Waikwun Wong; Bryce Wayne Lee; Lars Eric Nils Rodert; David Christopher Chance and David Lawrence Herzog