FORM 2 - Corporate Substantial Shareholder Notice
 
Form Serial Number: CS20260910E00430 
1. Date of relevant event: 07/09/2026
(dd/mm/yyyy)
2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later):
(dd/mm/yyyy)
3. Stock code: 00293
4. Name of listed corporation: Cathay Pacific Airways Ltd. 
5. Class of shares: Ordinary Shares 
6. Number of issued shares in class: 6,081,128,038
7. Name of substantial shareholder: HSBC Holdings plc 
8. Registered office: 8 Canada Square, London E14 5HQ, United Kingdom
9. Principal place of business in Hong Kong: 1 Queen's Road Central, Hong Kong 
15. Exchange on which listed: London, Hong Kong, Paris, New York, Bermuda
16. Name of listed parent and exchange on which parent is listed: N/A 
17. Details of relevant event:
  Brief description of relevant event Capacity in which shares were/are held Number of shares bought/sold or involved Currency of transaction On Exchange Off Exchange
Before relevant event After relevant event Highest price (per share) Average price (per share) Average consideration (per share) Nature of consideration
Long position
Short position 
1502You ceased to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares decreased because:
you returned the shares borrowed under a securities borrowing and lending agreement
 
2201Interest of corporation controlled by you
 
 		 40,000,000           
18. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long position365,966,3736.01
Short position140,563,6662.31
19. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long position366,077,0866.01
Short position101,119,5771.66
20. Capacity in which interests disclosed in Box 19 are held:
Capacity codeNumber of shares
2201Interest of corporation controlled by you
Long position360,935,365
Short position97,356,040
2302Custodian (other than an exempt custodian interest)
Long position5,141,721
Short position3,763,537

21. Further information in respect of derivative interests:
Derivatives codeNumber of shares
4105Unlisted derivatives - Physically settled
Long position1,159,420
Short position5,234,970
4106Unlisted derivatives - Cash settled
Long position8,000
Short position1,979,000
22. Further information in relation to interests of corporations controlled by substantial shareholder:
Name of controlled corporationAddress and place of incorporationName of controlling person% controlDirect interest (Y/N)Number of shares
HSBC Asia Holdings Limited1 Queen's Road Central, Hong Kong SAR (Place of Incorporation: Hong Kong SAR)HSBC Holdings plc100.00N
Long position364,306,228
Short position97,460,750
The Hongkong and Shanghai Banking Corporation Limited1 Queen's Road Central, Hong Kong SAR (Place of Incorporation: Hong Kong SAR)HSBC Asia Holdings Limited100.00Y
Long position363,600,228
Short position97,460,750
The Hongkong and Shanghai Banking Corporation Limited1 Queen's Road Central, Hong Kong SAR (Place of Incorporation: Hong Kong SAR)HSBC Asia Holdings Limited100.00N
Long position706,000
Short position0
HSBC Insurance (Asia Pacific) Holdings LimitedHSBC Main Building 1 Queen's Road Central, Hong Kong SAR (Place of Incorporation: Hong Kong SAR)The Hongkong and Shanghai Banking Corporation Limited100.00N
Long position706,000
Short position0
HSBC Insurance (Asia) Limited18th Floor Tower 1, HSBC Centre 1 Sham Mong Road, Kowloon, Hong Kong SAR (Place of Incorporation: Hong Kong SAR)HSBC Insurance (Asia Pacific) Holdings Limited100.00N
Long position706,000
Short position0
HSBC Life Insurance Company Limited29/F HSBC Building 8 Century Avenue, China (Shanghai) Pilot Free Trade Zone, Shanghai, China, 200120 (Place of Incorporation: China)HSBC Insurance (Asia) Limited100.00Y
Long position706,000
Short position0
HSBC Bank plc8 Canada Square, London, United Kingdom E14 5HQ (Place of Incorporation: United Kingdom)HSBC Holdings plc100.00Y
Long position1,770,858
Short position3,658,827

23. Further information in relation to interests held by substantial shareholder jointly with another person:
Name of joint shareholderAddressNumber of shares
 
24. Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust:
Names of trustAddressStatus codeNumber of shares
  
25. Further information from a party to an agreement under Section 317 (Please see Notes for further information required):
Names of other partiesAddressNumber of shares
 
Total number of shares in which a substantial shareholder is interested under sections 317 and 318
26. Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act:
NamesAddressRelationship CodePercentage (%)
  
 
27. Supplementary information: On 07 September 2026, The Hongkong and Shanghai Banking Corporation Limited ("HSBC") (as borrower under the Global Master Securities Lending Agreement (the "GMSLA") dated 9th June 2026 between Swire Pacific Limited and HSBC) returned 40,000,000 ordinary shares in Cathay Pacific Airways Limited to Swire Pacific Limited (as lender under the GMSLA) causing a change in HSBC's percentage level of interest in the short position.
28. Log/Serial Number of the previous form:
29. Number of concert party document(s) under section 317 attached/uploaded:
Date of filing this Form 2: 10/09/2026
(dd/mm/yyyy)