MTR Corporation Limited

PR050/26
13 August 2026

The MTR Corporation announced its 2026 interim results today (13 August 2026). The Corporation maintained steady performance across its businesses in the first half of the year. Together with a substantial one-off booking of profit from earlier property development projects, a net profit of HK$15.9 billion was recorded. As MTR enters a new peak period of railway construction, the Corporation will continue to adopt a forward-looking strategy to support significant future investments while continuing to contribute to Hong Kong's development and create long-term value for the community.

Railway operations remain the Corporation's core business. In the first half of the year, the total patronage of Hong Kong Transport Services exceeded 970 million, with passenger journeys on-time maintained at a world-class level of 99.9%. Cumulative patronage on the High Speed Rail surpassed 100 million passenger journeys. The number of direct-access destinations from Hong Kong West Kowloon Station also continued to increase, providing greater convenience for passengers travelling between Hong Kong and different cities in the Chinese Mainland.

The Corporation is taking forward seven new railway projects across the Northern Metropolis, Lantau Island and Tuen Mun. During the first half of the year, significant progress was achieved on a number of projects in the Northern Metropolis, including Kwu Tung Station on the East Rail Line and Hung Shui Kiu Station on the Tuen Ma Line. Following the signing of the Northern Link (Part 1) Project Agreement in mid-2025, works for both the Main Line and Spur Line commenced. The Corporation is also undertaking the planning and design for the South Island Line (West) and Pak Shek Kok Station, supporting the Government's strategy of using railways as the backbone of public transport.

Among the profits recorded in the first half of the year, approximately HK$12.2 billion came from the one-off booking of property development profit mainly from Tai Wai Station and THE SOUTHSIDE Package 5 under the "Rail plus Property" model. Property development profit is non-recurrent, subject to fluctuations and used to fund new railway construction and subsequent asset renewals. The Corporation is making prudent funding arrangements for the HK$140 billion investment required for the concurrent implementation of seven new railway projects, excluding the Northern Link (Part 2) Project Agreement. In the first half of the year, the Corporation successfully completed three green bond issuances, including the largest bond transaction in the HKD market, all of which were well received by investors, reflecting market confidence in the Corporation's future development.

"2026 marks an important year of transition for MTR Corporation as we build on our achievements and embark on a new phase of development. We will fully support the National 15th Five-Year Plan and the Government's long-term development plans by pressing ahead with railway development and community planning in the Northern Metropolis at full speed, while advancing a number of new railway projects in an orderly manner. Underpinned by a prudent and forward-looking financial strategy to meet the financial arrangements for the railway construction period and driven by innovative technology transformation, we will continue to leverage our railway expertise and extensive experience to strengthen our operation standards, seize opportunities for collaborative expansion beyond Hong Kong and unlock new growth engines. The Corporation is committed to contributing to the long-term development of the Nation and Hong Kong," said Ms Jeny Yeung, Chief Executive Officer of MTR Corporation.

Looking ahead, the Corporation will continue to provide safe, reliable and high-quality railway services. It will also fully advance new railway projects, develop "Smart Railway" initiatives to prepare for future growth, and build communities through railway development to keep cities moving.

The MTR Board has declared an interim dividend of HK$0.42 per share. (Please refer to the appendix for the 2026 Interim Results announcement.)

About MTR Corporation

To Keep Cities Moving, MTR makes encounters happen and rendezvous for a more connected tomorrow. As a recognised world-class operator of sustainable rail transport services, we are a leader in safety, reliability, customer service and efficiency.

MTR has extensive end-to-end railway expertise with over 45 years of railway projects experience from design to planning and construction through to commissioning, maintenance and operations. Going beyond railway delivery and operation, MTR also creates and manages dynamic communities around its network through seamless integration of rail, commercial and property development.

With more than 46,000 dedicated staff^*, MTR carries over 13 million passenger journeys worldwide every weekday in Hong Kong, Mainland China and beyond. Together, we Go Smart and Go Beyond.

For more information about MTR Corporation, please visit www.mtr.com.hk.

^*includes our subsidiaries, associates and joint ventures in Hong Kong and worldwide

HIGHLIGHTS
Hong Kong Businesses
- Hong Kong transport operations maintained steady revenue growth mainly driven by increase in patronage from Cross-boundary and High Speed Rail (Hong Kong Section) services
- Train service delivery and passenger journeys on-time for heavy rail maintained at 99.9% world-class level
- Hong Kong property development profit of HK$12.2 billion mainly arising from Tai Wai Station and THE SOUTHSIDE Package 5. Much of the profit would contribute to our asset replacements and management as well as new railway projects
- The tender of Kam Sheung Road Station Phase 2 property project was awarded in April 2026

Chinese Mainland and International Businesses
- We continue to progress the design works for the Sydney Metro West project awarded in December 2025
- Shenzhen Metro Line 13 Phase 2 Northern Extension commenced operation in June 2026

Outlook
- Our five-year plan sets out a clear roadmap which aims to evolve the Company into a future-fit, AI- and technology-empowered organisation with the agility, capabilities and culture to ignite long-term business success and grow together with Hong Kong
- To counter market challenges to our domestic and international businesses, we would protect and expand our recurrent revenue streams, exercise prudent and proactive financial and cash flow management. During the first half of 2026, we successfully issued EUR 3 billion, HK$18.8 billion and AU$2 billion senior unsecured green bonds
- We will continue our discussions with the Government to finalise the Northern Link (Part 2) Project Agreement and move ahead at full steam on the Northern Metropolis' main transport artery. We will also keep exploring participation in a variety of other initiatives of the Government to develop Hong Kong's transport networks
- Subject to the progress of construction and sales, we expect to book property development profit from THE SOUTHSIDE Package 6 and the Yau Tong Ventilation Building project and continue to book profit from Tai Wai Station in the second half of 2026
- The tendering of the Tuen Mun A16 Station Package 2 property development project was launched in July 2026. Subject to market conditions, we expect to tender two projects in the coming 12 months or so

The Directors of the Company announce the unaudited interim results of the Company and its subsidiaries ("the Group") for the six months ended 30 June 2026 as follows:

Notes:

1. REVIEW OF INTERIM FINANCIAL REPORT

The interim results set out in this preliminary announcement do not constitute the Group's interim financial report for the six months ended 30 June 2026 but are extracted from that interim financial report.

The interim financial report for the six months ended 30 June 2026 is unaudited, but has been reviewed by the Company's auditor, KPMG, in accordance with Hong Kong Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA"). The unmodified review report of KPMG is included in the interim report to be sent to shareholders. The interim financial report has also been reviewed by the Company's Audit & Risk Committee.

2. BASIS OF PREPARATION

This preliminary announcement of the Company's interim results has been prepared in accordance with the applicable disclosure provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The financial information relating to the financial year ended 31 December 2025 that is included in this preliminary announcement of the interim results as comparative information does not constitute the Company's statutory annual consolidated financial statements for that financial year but is derived from those financial statements. Further information relating to these statutory financial statements required to be disclosed in accordance with section 436 of the Hong Kong Companies Ordinance (Cap. 622) is as follows:

• The Company has delivered the financial statements for the year ended 31 December 2025 to the Registrar of Companies in accordance with section 662(3) of, and Part 3 of Schedule 6 to, the Companies Ordinance.


• The Company's auditor has reported on the consolidated financial statements for the year ended 31 December 2025. The auditor's report was unqualified; did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying its report; and did not contain a statement under sections 406(2), 407(2) or (3) of the Companies Ordinance.

The 2026 unaudited interim financial report should be read in conjunction with the 2025 annual financial statements.

The HKICPA has issued a number of amendments to HKFRS Accounting Standards that are first effective for the current accounting period of the Group. None of these developments have had a material effect on how the Group's results and financial position for the current or prior periods have been prepared or presented in the interim financial report. The Group has not applied any new standard or interpretation that is not yet effective for the current accounting period.

The accounting policies adopted for the preparation of the interim financial report are the same as those adopted in the preparation of the 2025 annual financial statements, except for any accounting policy changes, if applicable, that will be reflected in the 2026 annual financial statements.

For more information, please visit https://doc.irasia.com/listco/hk/mtr/interim/2026/intpress.pdf.

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