SWIRE PACIFIC A (00019) plans to sell some of its holdings in CATHAY PAC AIR, raising approximately HK$1.789 billion net.

SWIRE PACIFIC A (00019) and SWIRE PACIFIC B (00087) jointly announced that on March 12, 2026, the company entered into a placement agreement with the placing agent, whereby the company agreed to sell shares at a price of HK$11.74 per share of CATHAY PAC AIR through the placing agent. The sale of shares represents approximately 2.52% of the total issued shares of CATHAY PAC AIR (excluding treasury shares) as of the date of this announcement. The placement price represents a discount of approximately 9.6% to the closing market price of HK$12.99 per share of CATHAY PAC AIR on the Stock Exchange of Hong Kong on March 12, 2026. The company expects to net proceeds of approximately HK$1.789 billion from the placement. The company intends to use the net proceeds from the placement for general working capital purposes. The placement will bring the company's shareholding in CATHAY PAC AIR back to the historical level before the completion of the off-market share buyback by Qatar Airways Group Q.C.S.C. As of the date of this announcement, the company holds approximately 47.64% equity interest in the total issued shares of CATHAY PAC AIR (excluding treasury shares). Assuming no change in the total number of shares of CATHAY PAC AIR, upon completion of the placement, the company will hold approximately 45.12% equity interest in the total issued shares of CATHAY PAC AIR (excluding treasury shares). The company remains confident in and committed to CATHAY PAC AIR.