Completion of the sale of Swire Pacific Holdings Inc. (Doing Business as Swire Coca-Cola, USA)

Reference is made to the press release and announcement issued by Swire Pacific Limited (the "Company") both dated 28^th June 2023 and the circular dated 14^th August 2023 in relation to the sale of 100% equity interest in Swire Pacific Holdings Inc. (doing business as Swire Coca-Cola, USA) to JS&S (Beverages) Inc., a wholly-owned subsidiary of John Swire & Sons Limited, for US$3.9 billion (equivalent to approximately HK$30.4 billion), and the announcement of the Company dated 22^nd August 2023 in relation to the special dividend. The sale was completed on 7^th September 2023. The special dividend of HK$8.120 per 'A' share and HK$1.624 per 'B' share is expected to be paid on 19^th September 2023.

The resolution for the sale has received 99.96% of the votes cast by independent shareholders in favour of it and was passed at the extraordinary general meeting held on 30^th August 2023.

The sale allows the Company to provide immediate value to shareholders by returning approximately half of the gain by way of a special dividend. The significant net proceeds from the sale will also serve to materially reduce the Company's net debt, further strengthen its balance sheet and enhance its financial flexibility. The Company intends to apply the remainder of the net proceeds to fund future investments in its core divisions in Greater China and South East Asia, as well as new growth areas in those markets.

The Management Services Agreement, in connection with the sale for the provision of management and administrative support services by Swire Coca-Cola Limited in respect of Swire Coca-Cola, USA, will also enable the Company's beverages division to continue strengthening its global franchise relationship with The Coca-Cola Company and will provide an additional fee income stream to the Company.

About Swire Pacific Limited
Swire Pacific (HKEX: 00019/00087) is a Hong Kong-listed international conglomerate with a diversified portfolio of market leading businesses. The company has a long history in Greater China, where the name Swire or Taikoo (太古) has been established for over 150 years. Swire Pacific's strategy is focused on Greater China and South East Asia, where we seek to grow our core businesses of Property, Beverages, and Aviation, as well as new areas of growth such as healthcare and sustainable foods. Swire Pacific is the largest shareholder in two other listed companies in Hong Kong: Swire Properties Limited and Cathay Pacific Airways Limited. Swire Pacific is listed on the Hang Seng Corporate Sustainability Index, Dow Jones Sustainability Asia Pacific Index and MSCI All Country World Index (ACWI) ESG Leaders Index.

Visit Swire Pacific's website at www.swirepacific.com