After three years in Hong Kong, Merlin Swire will resume his role as Chief Executive of John Swire & Sons Ltd, the parent company of the Swire group, based in London. He will remain a director of Swire Pacific, Swire Properties and Cathay Pacific, and will step down as Chairman of Swire Pacific and Swire Properties on 24^th August 2021.

Guy Bradley, currently Chief Executive of Swire Properties, will succeed Mr. Swire as Chairman of Swire Pacific and Swire Properties. Mr. Bradley will be succeeded by Tim Blackburn, Chief Executive Officer, Chinese Mainland of Swire Properties.

Mr. Swire became Chairman of Swire Pacific in July 2018. Commenting on his time as Chairman, Mr. Swire said, "I am proud of the resilience that the entire Swire Pacific group has shown over the past three years, in particular the resilience which the team at Cathay Pacific has shown in the face of COVID-19. I am also delighted by the progress made in strengthening and expanding our businesses in the Chinese Mainland.

"In Hong Kong, where we have been present for over 150 years, Swire has a long and committed history. In recent years we have increased our activities in support of local communities and will continue to do so through our philanthropic and other community programmes such as the recently launched TrustTomorrow. We are confident in Hong Kong's prospects and remain determined to grow our businesses here. Closer cooperation and integration with other cities in the Greater Bay Area will bring great benefits to Hong Kong and drive the city's economic growth, and we plan to participate in that growth."

Speaking about the future, Mr. Swire said, "I will continue to spend a substantial part of each year in the Chinese Mainland and Hong Kong, engaging with stakeholders and business partners as Swire deepens and expands its presence.

"In the Chinese Mainland, we intend to grow our core Property and Beverage businesses, and to build scale in new sectors such as Healthcare. I am fully committed to these exciting developments."

Guy Bradley has been with the Swire group for 34 years and has worked in a wide range of businesses in Hong Kong, the Chinese Mainland, USA and South East Asia. Commenting on Mr. Bradley's appointment, Mr. Swire said, "Guy has broad experience and a proven track record. He will be a strong leader for the group in its next chapter of growth. I have full confidence in him and in our team."

Speaking about his new appointment, Mr. Bradley said, "It is a great honour to succeed Merlin as Chairman of Swire Pacific and Swire Properties. The group is facing significant challenges in 2021, but I am confident of its long term prospects. We have a strong balance sheet and an extensive pipeline of investment opportunities in the Chinese Mainland, and we intend to deliver on them for our shareholders."

Biography of Mr Guy Bradley

Guy Bradley is currently Chief Executive of Swire Properties, and he oversees the Company's overall management and strategic direction. He is also a Director of John Swire & Sons (H.K.) Limited.

Before taking up his role as Chief Executive, Guy was Chief Executive Officer - Mainland China, and was responsible for overseeing the implementation of Swire Properties' overall investment strategy, acquisition of development opportunities as well as management of projects in the Chinese Mainland. He joined Swire Properties Limited in 2006 and became a Director in 2008.

Guy has worked in the Swire group for 34 years, including general management roles in Swire's businesses in Papua New Guinea, Japan, Hong Kong SAR, the Chinese Mainland, the United States, Taiwan region, Vietnam and the Middle East.

Guy serves as a member of the Executive Committee of The Real Estate Developers Association of Hong Kong. He is also a General Committee member of the Hong Kong General Chamber of Commerce, a member of the Council of The Hong Kong Management Association, and a member of the Advisory Committee on Hotel and Tourism Management at the Chinese University of Hong Kong.

Guy holds a Masters degree in Politics, Philosophy & Economics from the University of Oxford. A Chartered Surveyor, he is a Fellow of the Royal Institution of Chartered Surveyors and a member of The Hong Kong Institute of Surveyors.