Presentation

7 th March 2014

2013 Results

2013 Results1

2013 Review

Record underlying profit

Higher contribution from investment properties

Excellent results in Residential Business due to three Singapore completions

New development projects in China, Indonesia, the Philippines and Singapore

2013 Results2

2013 Results Highlights

2012 2013

US$776m Underlying profit attributable to shareholders US$935m

US$662m Non - trading items US$255m

US$1,438m Profit attributable to shareholders US$1,190m

US 33.11 Underlying earnings per share US 39.73

US 61.32 Earnings per share US 50.56

US$11.11 NAV per share US$11.41

US 11.00 Final dividend per share US 12.00

US 17.00 Total dividend per share US 18.00

2013 Results3

Commercial Property

2013 Results4

Commercial Portfolio

Office Retail Hotel Total

Hong Kong 4,152 585 143 4,880

Macau - 93 151 244

Singapore 1,652 134 - 1,786

Jakarta 661 68 - 729

Hanoi 105 11 - 116

Bangkok 27 61 - 88

Others 71 - 312 383

TOTAL 6,668 952 606 8,226

2013 Results5

Hong Kong

1. One Exchange Square

2. Two Exchange Square

3. Three Exchange Square

4. The Forum

5. Jardine House

6. Chater House

7. Alexandra House

8. Gloucester Tower

9. Edinburgh Tower

9a. The Landmark Mandarin Oriental

10. York House

11. Landmark Atrium

12.

2013 Results6

Source: Jones Lang LaSalle

80

100

120

140

160

180

2009 2010 2011 2012 2013

Index

2013 Results7

Source: Jones Lang LaSalle

-0.5

0

0.5

1

1.5

2

2.5

'99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18

Vacancy %m sq. ft

New supply Net take up Vacancy

0

4

8

12

16

20

Disclaimer : The above forecast shall be regarded solely as general guide, no representation is made nor responsibility acceptedby Jones Lang LaSalle for the accuracy of the whole or any part whatsoever .

2013 Results8

-2

0

2

4

6

8

10

'99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18

Vacancy %m sq. ft

New supply Net take up Vacancy

Source: Jones Lang LaSalle

0

4

8

12

16

20

Disclaimer : The above forecast shall be regarded solely as general guide, no representation is made nor responsibility acceptedby Jones Lang LaSalle for the accuracy of the whole or any part whatsoever .

2013 Results9

Hongkong Land Central Portfolio: Office

2011 2012 2013

Average Net Rent (HK$ psf /month) 87 90 99

Year-end Vacancy 2.0% 3.4% 5.0%

Weighted Average Lease Expiry (years) 4.1 3.7 3.6

2013 Results10

Hong Kong: Office Tenant Profile

Banks and

other financial

services

38%

Legal

30%

Accounting

8%

Government

3%

Trading

3%

Property

6% Others

12%

2013 Results11

Hong Kong: Expiration and Interim Rent Revisions

2014 2015 2016

Total lettable office area subject to1,155 1,308 885

% of area subject to expiration/ rent revisions 28% 32% 21%

Average expiring net rent (HK$ psf /month) 108 99 105

2013 Results12

Premium office development

40,700 sq. ft NFA

Completion: 2013

Pedestrian plaza is being significantly enhanced

The Forum Redevelopment

2013 Results13

Hongkong Land Central Portfolio: Retail

2011 2012 2013

Average Net Rent (HK$ psf /month) 154 171 201

Year-end Vacancy 0% 0% 0%

Weighted Average Lease Expiry (years) 2.3 2.5 2.4

Note: Vacancy excludes areas under renovation.

2013 Results14

Retail component 95% let

34% increase in average rents

Macau

One Central (47% -owned)

2013 Results

Singapore

One Raffles Link(100% -owned)

Marina Bay Financial Centre(33% -owned)

One Raffles Quay(33% -owned)

15

2013 Results16

Source: Jones Lang LaSalle

0

4

8

12

16

20

-1

0

1

2

3

4

5

'99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18

Vacancy %m sq. ft

New supply Net take up Vacancy

CBD Raffles Place, Shenton Way, Marina Bay & Marina Centre

Disclaimer : The above forecast shall be regarded solely as general guide, no representation is made nor responsibility acceptedby Jones Lang LaSalle for the accuracy of the whole or any part whatsoever .

2013 Results17

Office Retail Total

One Raffles Link 239 73 312 312

One Raffles Quay 1,330 4 1,334 445

Marina Bay Financial Centre 2,910 179 3,089 1,029

TOTAL 4,479 256 4,735 1,786

Singapore Commercial Portfolio

2013 Results18

Singapore: Office Tenant Profile

Banks and

other financial

services

78%Legal

5%

Accounting

3%

Natural

resources

7%

Others

7%

2013 Results19

Singapore: Office Average Rents and Occupancy

2012 2013

Average Gross Rent (S$ psf /month) 8.7 9.1

Year-end Vacancy 5.6% 1.7%

Weighted Average Lease Expiry (years) 6.6 5.9

Note: According to local market practice, the average office rent includes management charges.

2013 Results20

Singapore: Expiration and Interim Rent Revisions

2014 2015 2016

Share: Total lettable office area subject 197 394 320

% of area subject to expiration/ rent revisions 12% 24% 19%

Average expiring rent (S$ psf /month) 7.0 9.5 11.0

2013 Results21

Average gross rent: US$21.6 psm per month(2012: US$20.6 psm per month)

Occupancy: 94%

Strong demand for office space

Jakarta

Jakarta Land (50% -owned)

2013 Results

Hanoi, Bangkok and Phnom Penh

22

63 Ly Thai To

(74% -owned)

Gaysorn

(49% -owned)

Central Building

(71% -owned)

Phnom Penh Site

(100% -owned)

2013 Results23

Prestigious retail centre, which includes a small luxury hotel

Completion: end -2016

Beijing

Wangfujing (95% -owned)

2013 Results24

120,000 sq. m. lettable area

Completion: 2017

Beijing

CBD (30% -owned)

2013 Results25

Residential Property

2013 Results26

7 units handed over in 2013

8 units sold in 2014

6 remaining units

Hong Kong

Serenade