SHANGHAI, CHINA – Media OutReach – 10 May 2023 – Hang Lung Properties (SEHK stock code: 00101) ("Hang Lung" or "the Company") understands that radical changes are needed to reduce the embodied carbon that goes into building materials – a major challenge for the global building and construction sector. The Company is delighted to announce a two-year strategic collaboration ("Collaboration") with a carbon capture, utilization and storage (CCUS) company CLEANCO2, to apply innovations including low carbon recycled concrete aggregate (RCA) and CLEANCO2 carbon storage concrete bricks ("low carbon concrete bricks") to reduce the embodied carbon in Hang Lung's Westlake 66 development in Hangzhou and other projects. Westlake 66 is also the first commercial development project to use low carbon concrete bricks in mainland China and Hong Kong.