LAS VEGAS SANDS CORP (Form: 8-K, Received: 11/30/2022 06:09:02)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) November 30, 2022


LAS VEGAS SANDS CORP.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
001-32373		27-0099920
(Commission File Number)		(IRS Employer Identification No.)

5500 Haven Street
Las Vegas,	Nevada	89119
(Address of principal executive offices)		(Zip Code)

(702) 923-9000

(Registrant's Telephone Number, Including Area Code)

NOT APPLICABLE

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock ($0.001 par value)

LVS

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

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ITEM 1.01.			Entry into a Material Definitive Agreement.

On November 30, 2022, Sands China Ltd., an exempted company incorporated in the Cayman Islands with limited liability ("Sands China"), an indirect subsidiary of Las Vegas Sands Corp., a Nevada corporation (the "Company"), entered into a waiver extension and amendment request letter (the "Fourth Waiver Extension Letter") with respect to certain provisions of the facility agreement, dated as of November 20, 2018 (as amended, restated, amended and restated, supplemented and otherwise modified, including by waiver and amendment request letters, dated as of March 27, 2020 (the "First Waiver Letter"), September 11, 2020 (the "Second Waiver Extension Letter") and July 7, 2021 (the “Third Waiver Extension Letter”), the "Facility Agreement"), by and among Sands China, as borrower, Bank of China Limited, Macau Branch, as agent (the "Agent"), and the arrangers and lenders from time to time party thereto.

In the Fourth Waiver Extension Letter, the Agent and the lenders party to the Facility Agreement have (a) extended to (and including) July 31, 2023, the termination date of the Facility Agreement, the waiver period for the requirement for Sands China to comply with Clause 20.2 of the Facility Agreement, which requires Sands China to ensure (i) the Consolidated Leverage Ratio (as defined in the Facility Agreement) as at the last day of any financial quarter does not exceed 4.00 to 1.00 and (ii) the Consolidated Interest Coverage Ratio (as defined in the Facility Agreement) as at the last day of any financial quarter is greater than 2.50 to 1.00; (b) extended to (and including) July 31, 2023, the period during which Sands China's ability to declare or make any dividend payment or similar distribution is restricted if at such time (x) the Total Commitments (as defined in the Facility Agreement) exceed $2,000,000,000 by Sands China's exercise of the option to increase the Total Commitments by an aggregate amount of up to $1,000,000,000; and (y) the Consolidated Leverage Ratio (as defined in the Facility Agreement) is greater than 4.00 to 1.00, unless, after giving effect to such payment, the sum of (i) the aggregate amount of cash and cash equivalents of Sands China on such date; and (ii) the aggregate amount of the undrawn facility under the Facility Agreement and unused commitments under other credit facilities of Sands China is greater than $2,000,000,000; and (c) incorporated provisions to address the transition of the London Inter-bank Offered Rate (LIBOR) to a term Secured Overnight Financing Rate (SOFR) reference rate.

Pursuant to the Fourth Waiver Extension Letter, Sands China agreed to pay a customary fee to the lenders that consented to the waivers and amendments requested therein.

Some of the lenders, agents and arrangers under the Facility Agreement and their respective affiliates have provided, and may provide in the future, investment banking, commercial banking and other financial services for the Company and its subsidiaries in the ordinary course of business, for which they have received and would be expected to receive customary compensation.

The foregoing summary of the Fourth Waiver Extension Letter is not complete and is qualified in its entirety by reference to the full and complete text of the Fourth Waiver Extension Letter. A copy of the First Waiver Letter was filed as Exhibit 10.1 to the Current Report on Form 8-K filed on March 27, 2020, a copy of the Second Waiver Extension Letter was filed as Exhibit 10.1 to the Current Report on Form 8-K filed on September 11, 2020, a copy of the Third Waiver Extension Letter was filed as Exhibit 10.1 to the Current Report on Form 8-K filed on July 7, 2021, and a copy of the Fourth Waiver Extension Letter is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.


ITEM 9.01.			Financial Statements and Exhibits.


(d)			Exhibits
10.1†			Waiver Extension and Amendment Request Letter, dated November 30 , 2022, with respect to the Facility Agreement, dated as of November 20, 2018, by and among Sands China, as borrower, Bank of China Limited, Macau Branch, as agent, and the arrangers and lenders party thereto
104			Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

†Certain identified information has been excluded from the exhibit because such information both (i) is not material and (ii) is the type that the Company treats as private or confidential

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized.

Dated: November 30, 2022


						LAS VEGAS SANDS CORP.
						By:			/S/ D. ZACHARY HUDSON
									Name: D. Zachary Hudson Title: Executive Vice President, Global General Counsel and Secretary

Exhibit 10.1

Certain identified information has been excluded from the exhibit because such information both (i) is not material and (ii) is the type that the registrant treats as private or confidential.

From: SANDS CHINA LTD., an exempted company incorporated in the Cayman Islands with limited liability with registration number 228336 and its registered address at Intertrust Corporate Services (Cayman) Limited, One Nexus Way, Camana Bay, Grand Cayman KY1-9005, Cayman Islands, as borrower (the "Company")

To: BANK OF CHINA LIMITED, MACAU BRANCH, acting as agent under the Facility Agreement (as defined below) on behalf of the Finance Parties (as defined in the Facility Agreement) (the "Agent")

10 November 2022

Dear Sirs,

Waiver Extension and Amendment Request Letter

We refer to the facility agreement dated 20 November 2018 between, amongst others, the Company and the Agent, as amended by (i) the request letter dated 9 March 2020 and countersigned by the Agent on 27 March 2020 (the "First Letter", a copy of which is attached hereto as Exhibit I), (ii) the waiver extension and amendment request letter dated 24 August 2020 and countersigned by the Agent on 11 September 2020 (the "Second Letter", a copy of which is attached hereto as Exhibit II (but without its original schedule and exhibit)) and (iii) the extension request letter dated 17 June 2021 and countersigned by the Agent on 7 July 2021 (the "Third Letter", a copy of which is attached hereto as Exhibit III (but without its original exhibits)) (the facility agreement as so amended, the "Original Facility Agreement"), and as further supplemented, amended, novated and / or restated from time to time (the "Facility Agreement").

Capitalised terms used but not defined in this waiver extension and amendment request letter (this "Letter") shall have those meanings given to them in the Facility Agreement. References herein to Clauses and Schedules are to clauses of, and schedules to, the Facility Agreement.

The provisions of Clause 1.2 (Construction), 1.3 (Currency symbols and definitions), 1.4 (Third party rights), Clause 17.2 (Amendment costs), Clause 29 (Notices), Clause 34 (Confidential Information) and Clause 38 (Enforcement) of the Facility Agreement shall apply to this Letter as though they were set out in full in this Letter except that references therein to any "Finance Document" or to "this Agreement" shall be construed as references to this Letter.

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

1.BACKGROUND

(a)Pursuant to the First Letter, the Lenders have agreed to, among other things:

(i)waive the requirement for the Company to comply with Clause 20.2 (Financial condition) during the period beginning on 1 January 2020 and ending on 1 July 2021 (both dates inclusive) (the "Relevant Period") (other than with respect to the financial year ended on 31 December 2019); and

(ii)waive any Default that may arise as a result of any breach of Clause 20.2 (Financial condition) during the Relevant Period (other than with respect to the financial year ended on 31 December 2019).

(b)Pursuant to the Second Letter, the Lenders have agreed to, among other things:

(i)extend the Relevant Period such that it ends on (and includes) 1 January 2022 instead of 1 July 2021; and

(ii)amend and restate the then current version of the Facility Agreement in order to, among other things:

(1)provide the Company with the option to increase the Total Commitments by an aggregate amount of up to the Base Currency Amount of US$1,000,000,000; and

(2)restrict the ability of the Company to declare or make any dividend payment or other distribution of assets, properties, cash, rights, obligations or securities on account of any shares of any class of capital stock of the Company at any time during the period from (and including) 1 July 2020 to (and including) 1 January 2022 (the "Dividend Restriction Period") if certain conditions as specified in the Facility Agreement are triggered.

(c)As at the date hereof, the Total HKD Commitments have been increased by HK$3,826,250,000 to an aggregate amount of HK$17,632,655,600 pursuant to the increase mechanism inserted in the Facility Agreement as described in paragraph (b)(ii)(1) above. The Total USD Commitments remain at the amount of US$237,000,000.

(d)Pursuant to the Third Letter, the Lenders have agreed to, among other things:

(i)further extend the Relevant Period such that it ends on (and includes) 1 January 2023 instead of 1 January 2022; and

(ii)for the purposes of Clause 19.1(a) (Financial statements), extend the deadline by which the Company shall supply the Agent with its audited financial statements

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

for the financial year ended on 31 December 2021 from 90 days after 31 December 2021 to 30 April 2022,

in consideration of which, among other things, the Company has agreed that the Dividend Restriction Period is extended such that it ends on (and includes) 1 January 2023 instead of 1 January 2022.

(e)The purpose of this Letter is to request the Majority Lenders to:

(i)further extend the Relevant Period such that it ends on (and includes) the Termination Date instead of 1 January 2023; and

(ii)consent to the amendment and restatement of the Original Facility Agreement in the form attached as the Schedule to the enclosed acknowledgement to this Letter, which provides for the replacement of the provisions relating to the application of LIBOR in the Original Facility Agreement with provisions relating to the application of a term SOFR reference rate,

in consideration of which the Company will:

(1)pay to the Agent, for the account of the relevant consenting Lenders, a consent fee as set out in paragraph 4 below; and

(2)for the purposes of Clause 21.15 (Restriction on dividends), agree to the extension of the Dividend Restriction Period such that it ends on (and includes) the Termination Date instead of 1 January 2023.

2.REQUEST

Pursuant to Clause 33 (Amendments and waivers), we request that the Majority Lenders:

(a)further extend the Relevant Period such that it ends on (and includes) the Termination Date instead of 1 January 2023; and

(b)consent to the amendment and restatement of the Original Facility Agreement in the form attached as the Schedule to the enclosed acknowledgement to this Letter,

subject to each of the following:

(1)payment by the Company of the consent fee as set out in paragraph 4 below; and

(2)the Dividend Restriction Period being extended, for the purposes of Clause 21.15 (Restriction on dividends), such that it ends on (and includes) the Termination Date instead of 1 January 2023.

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

3.EFFECTIVENESS AND AMENDMENT

3.1 Extension; Amendment and restatement

The Company and the Agent (acting on behalf of the Majority Lenders) agree that, with effect on and from the date of countersignature of this Letter by the Agent (acting on behalf of the Majority Lenders) (the "Effective Date"):

(a)the respective extensions of the Relevant Period and of the Dividend Restriction Period as set out in paragraph 2 above shall become effective; and

(b)save as provided in paragraph 3.2 (Continued effect of LIBOR provisions) below, the Original Facility Agreement will be amended and restated in the form attached as the Schedule to the enclosed acknowledgement of this Letter.

3.2 Continued effect of LIBOR provisions

Notwithstanding the occurrence of the Effective Date, the provisions relating to the application of LIBOR in the Original Facility Agreement shall continue to apply to:

(a)any Interest Period for LIBOR Loans that:

(i)has commenced prior to the Effective Date and will end on a date after the Effective Date; and

(ii)will commence less than (but excluding) [5] Business Days after the Effective Date,

(each such Interest Period, a "Legacy LIBOR Interest Period"); and

(b)the amount of interest payable on the relevant LIBOR Loans for the relevant Legacy LIBOR Interest Period,

and shall remain effective until each interest payment with respect to the relevant LIBOR Loans for the relevant Legacy LIBOR Interest Period is made.

3.3 Continuing obligations

(a)Subject to the waiver extension and the amendment and restatement of the Original Facility Agreement as set out in paragraph 2 above and this paragraph 3, the Original Facility Agreement and the other Finance Documents shall remain in full force and effect in accordance with its terms.

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

(b)On and from the Effective Date, any reference to the Facility Agreement in any other Finance Document shall be read as a reference to the Original Facility Agreement as amended by this Letter.

4.CONSENT FEE

(a)As consideration for the Lenders granting the waiver extension and consenting to the amendment and restatement of the Original Facility Agreement as requested in paragraph 2 above, the Company shall pay (or shall cause to be paid) to the Agent for the account of the Lenders (the "Consenting Lenders") that have agreed to the waiver extension and amendment and restatement requested in this Letter by 4:00 p.m. (Macao time) on 25 November 2022 (the "Consent Approval Date"):

(i) a fee payable in USD in an aggregate amount equal to [***]% of the aggregate USD Commitments of the Consenting Lenders as at the Consent Approval Date (the "USD Consent Fee"); and

(ii)a fee payable in HKD in an aggregate amount equal to [***]% of the aggregate HKD Commitments of the Consenting Lenders as at the Consent Approval Date (the "HKD Consent Fee"),

in each case, within 10 Business Days following the Effective Date (or such later date as agreed between the Company and the Agent) (the "Payment Date").

(b)Promptly following (and in any event within 3 Business Days of) the Effective Date, the Agent shall supply the Company with such information the Company reasonably requires in order to calculate the amount of the USD Consent Fee and the HKD Consent Fee payable pursuant to paragraph (a) above.

(c)The USD Consent Fee shall be allocated by the Agent to each Consenting Lender pro rata to that Consenting Lender’s share of the aggregate USD Commitments of all the Consenting Lenders (calculated as at the Consent Approval Date).

(d)The HKD Consent Fee shall be allocated by the Agent to each Consenting Lender pro rata to that Consenting Lender’s share of the aggregate HKD Commitments of all Consenting Lenders (calculated as at the Consent Approval Date).

(e)The Company hereby instructs and authorises the Agent to, on the Payment Date:

(i)deduct the amount of the USD Consent Fee from the Company's USD-denominated account no. [***] held with the Agent and apply such amount towards payment of the USD Consent Fee on behalf of the Company; and

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

(ii)deduct the amount of the HKD Consent Fee from the Company's HKD-denominated account no. [***] held with the Agent and apply such amount towards payment of the HKD Consent Fee on behalf of the Company.

(f)The Consent Fee shall only be payable if the Effective Date occurs.

5.REPRESENTATIONS

The Company confirms to the Agent and each other Finance Party that on the date of this Letter and on the Effective Date:

(a)the Repeating Representations (which are not qualified by a Material Adverse Effect or any other materiality threshold) are true in all material respects; and

(b)the Repeating Representations (which are qualified by a Material Adverse Effect or any other materiality threshold) are true in all respects; and

(c)the Repeating Representations would also be true (as qualified above) if references to the Facility Agreement were construed as references to the Facility Agreement as amended by this Letter.

6.MISCELLANEOUS

(a)Save as expressly set out in this Letter, nothing in this Letter shall constitute or be deemed to be a waiver or consent by any Finance Party to any breach or potential breach of any provision of a Finance Document or a waiver of any Event of Default or an amendment to, consent under or waiver or variation of any provision of any Finance Document.

(b)This Letter is a Finance Document for the purposes of the Facility Agreement.

(c)This Letter may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Letter.

7.GOVERNING LAW

This Letter is governed by and construed in accordance with Hong Kong law.

Please acknowledge your agreement to, and acceptance of, the terms of this Letter by signing, dating and returning the enclosed acknowledgement of this Letter as soon as possible.

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

[Signature page follows]

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

Yours faithfully,

SANDS CHINA LTD.

Acting by:


/s/ Sun Minqi (Dave Sun)
Title: Senior Vice President and Chief Financial Officer
Name: Sun Minqi (Dave Sun)

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

Acknowledgement of Waiver Extension and
Amendment and Restatement of Facility Agreement

Re: Sands China Ltd. – US$2,000,000,000 Facility Agreement dated 20 November 2018
(as amended and restated from time to time) (the “Facility Agreement”)

The Agent (acting on the instructions of the Majority Lenders) hereby acknowledges the waiver extension and the amendment and restatement of the Facility Agreement requested in the letter dated 10 November 2022 (the "Letter") and agrees to the terms of the Letter and that with effect on and from the Effective Date (as defined in the Letter):

(a) the extension of the Dividend Restriction Period (as defined in the Letter) as specified in the Letter shall be effective;

(b) the further extension of the Relevant Period (as defined in the Letter) requested in the Letter shall be effective; and

THE AGENT


/s/ Cai Chun Yan
Title: Deputy General Manager, Bank of China Limited, Macau Branch
Name: Cai Chun Yan

For and on behalf of
BANK OF CHINA LIMITED, MACAU BRANCH

as Agent and on behalf of each other Finance Party under and as defined in the Facility Agreement

Dated: November 30, 2022

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

SCHEDULE TO ACKNOWLEDGEMENT

Amended and Restated Facility Agreement

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

EXHIBIT I

COPY OF THE FIRST LETTER

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

From: SANDS CHINA LTD., an exempted company incorporated in the Cayman Islands with limited liability with registration number 228336 and its registered address at Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005 as borrower (the "Company")

To: BANK OF CHINA LIMITED, MACAU BRANCH, acting as agent under the Facility Agreement (as defined below) on behalf of the Finance Parties (as defined in the Facility Agreement) (the "Agent")

9 March 2020

Dear Sirs,

Request Letter

We refer to the facility agreement dated 20 November 2018 between, amongst others, the Company and the Agent, as supplemented, amended, novated and / or restated from time to time (the “Facility Agreement”).

Capitalised terms used but not defined in this waiver and amendment request letter (this "Letter") shall have those meanings given to them in the Facility Agreement. References herein to Clauses and Schedules are to clauses of, and schedules to, the Facility Agreement.

1BACKGROUND

(a)The purpose of this letter is to request the Majority Lenders:

(iii)for the purposes of Clause 19.1(a) (Financial statements), extend the period of time during which the Company may supply the Agent with (1) its audited consolidated

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

financial statements for the financial year ended on 31 December 2019, to 30 April 2020 and (2) its audited consolidated financial statements for the financial year ended on 31 December 2020, to 30 April 2021.

(b)Clause 19.1 (Financial statements) requires the Company to supply the Agent with:

(i)as soon as the same become available, but in any event within 90 days after the end of each of its financial years, its audited consolidated financial statements for that financial year; and

(ii)as soon as the same become available, but in any event within 50 days after the end of each Financial Quarter, its unaudited financial statements (in substantially the form set out in Schedule 10, or such other form as agreed between the Agent and the Company) for that Financial Quarter.

(c)Clause 19.2 (Compliance Certificate) requires the Company to supply the Agent with each set of financial statements delivered pursuant to Clause 19.1 (Financial statements) a Compliance Certificate, signed by at least one director, the chief financial officer, the chief executive officer, or a senior vice president – finance or similar authorised officer, in each case, of the Company, setting out certain computations as at the date on which those financial statements were drawn up.

(d)Clause 20.2 (Financial condition) requires the Company to ensure that:

(i)the Consolidated Leverage Ratio as at the last day of any Financial Quarter shall not exceed 4.00 to 1.00; and

(ii)the Consolidated Interest Coverage Ratio as at the last day of any Financial Quarter is greater than 2.50 to 1.00.

2REQUEST

Pursuant to Clause 33 (Amendments and waivers), we request that the Majority Lenders:

(a)waive the requirement for the Company to comply with Clause 20.2 (Financial condition) during the Relevant Period (other than with respect to the financial year ended on 31 December 2019);

(b)waive any Default that may arise as result of any breach of Clause 20.2 (Financial condition) during the Relevant Period (other than with respect to the financial year ended on 31 December 2019); and

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

(c)for the purposes of Clause 19.1(a) (Financial statements), extend the period of time during which the Company may supply the Agent with:

(i)its audited consolidated financial statements for the financial year ended on 31 December 2019, to 30 April 2020; and

(ii)its audited consolidated financial statements for the financial year ended on 31 December 2020, to 30 April 2021.

3EFFECTIVENESS

(a)The Company and the Agent (acting on behalf of the Majority Lenders) agree that the waivers and extension set out in paragraph 2 above shall become effective on and from the date of countersignature of this Letter by the Agent (the "Effective Date").

(b)On and from the Effective Date, any reference to the Facility Agreement in any other Finance Document shall be read as a reference to the Facility Agreement as amended by this Letter.

4CONSENT FEE

(a)As consideration for the Lenders granting the waivers and extension set out in paragraph 2 above, the Company shall pay (or shall cause to be paid) to the Agent for the account of the Lenders (the "Consenting Lenders") that have agreed to the waivers and extension requested in this Letter by close of business on 27 March 2020 (the "Consent Approval Date"):

(i)a fee payable in USD in an aggregate amount equal to [***]% of the aggregate USD Commitments of the Consenting Lenders as at the Consent Approval Date (the "USD Consent Fee"); and

(ii)a fee payable in HKD in an aggregate amount equal to [***]% of the aggregate HKD Commitments of the Consenting Lenders as at the Consent Approval Date (the "HKD Consent Fee"),

in each case, within 10 Business Days following the Effective Date (or such later date as agreed between the Company and the Agent) (the "Payment Date").

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

(e)The USD Consent Fee shall be paid into the following bank account (or such other bank account you notify to us in writing at least 3 Business Days prior to the Payment Date):


Account Bank:
Name of Account:
Account Number:
Ref:

The HKD Consent Fee shall be paid into the following bank account (or such other bank account you notify to us in writing at least 3 Business Days prior to the Payment Date):


Account Bank:
Name of Account:
Account Number:
Ref:

(f)The Consent Fee shall only be payable if the Effective Date occurs.

5MISCELLANEOUS

(b)Subject to the waivers and extension set out in paragraph 2 above, the Facility Agreement and the other Finance Documents shall remain in full force and effect in accordance with its terms.

(c)This Letter is a Finance Document for the purposes of the Facility Agreement.

(d)This Letter may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Letter.

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

6GOVERNING LAW

This Letter, and any non-contractual obligations arising out of or in connection with it are governed by and construed in accordance with Hong Kong law.

Please acknowledge your agreement to, and acceptance of, the terms of this Letter by signing, dating and returning the enclosed acknowledgement of this Letter as soon as possible.

Yours faithfully,

SANDS CHINA LTD.

Acting by:


/s/ Sun Minqi (Dave Sun)
Title: Senior Vice President and Chief Financial Officer
Name: Sun Minqi (Dave Sun)

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

Acknowledgement of Waivers and Extension

The Agent hereby acknowledges the waivers, extension and amendments requested in the letter dated March 9, 2020 (the "Letter") and agrees to the terms of the Letter and that such waivers, extension and amendments shall be effective on and from the Effective Date (as defined in the Letter).


/s/ Wong Iao Kun
Title: Deputy Director
Name: Wong Iao Kun

For and on behalf of

BANK OF CHINA LIMITED, MACAU BRANCH

as Agent and on behalf of each other Finance Party under and as defined in the Facility Agreement

Dated: March 27, 2020

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

EXHIBIT II

COPY OF THE SECOND LETTER
(without original schedule and exhibit)

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

From: SANDS CHINA LTD., an exempted company incorporated in the Cayman Islands with limited liability with registration number 228336 and its registered address at Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005 as borrower (the "Company")

To: BANK OF CHINA LIMITED, MACAU BRANCH, acting as agent under the Facility Agreement (as defined below) on behalf of the Finance Parties (as defined in the Facility Agreement) (the "Agent")

24 August 2020

Dear Sirs,

Waiver Extension and Amendment Request Letter

We refer to the facility agreement dated 20 November 2018 between, amongst others, the Company and the Agent, as amended by the request letter dated 9 March 2020 and countersigned by the Agent on 27 March 2020 (the "First Letter", a copy of which is attached hereto as Exhibit I) and as further supplemented, amended, novated and / or restated from time to time (the "Facility Agreement").

1BACKGROUND

(a)Pursuant to the First Letter, the Lenders have agreed to, among other things:

(i)waive any Default that may arise as a result of any breach of Clause 20.2 (Financial condition) during the Relevant Period (other than with respect to the financial year ended on 31 December 2019).

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

(b)The purpose of this Letter is to request the Majority Lenders to:

(i)extend the Relevant Period such that it ends on (and includes) 1 January 2022 instead of 1 July 2021; and

(ii)consent to the amendment and restatement of the Facility Agreement in the form attached as the Schedule to the enclosed acknowledgement to this Letter, which provides for the following amendments to the Facility Agreement:

(1)providing the Company with the option to increase the Total Commitments (such increase in Commitments to be assumed by one or more Lenders or other Qualified Financial Institutions selected by the Company) by an aggregate amount of up to the Base Currency Amount of US$1,000,000,000; and

(2)inserting a restriction on the ability of the Company to declare or make any dividend payment or other distribution of assets, properties, cash, rights, obligations or securities on account of any shares of any class of capital stock of the Company at any time during the period from (and including) 1 July 2020 to (and including) 1 January 2022 if at such time:

(A)the Total Commitments exceed US$2,000,000,000 by operation of the increase referred to in sub-paragraph (1) above; and

(B)the Consolidated Leverage Ratio specified in the most recent Compliance Certificate received by the Agent is greater than 4.0x,

unless, after giving effect to such payment, the sum of (i) the aggregate amount of Cash and Cash Equivalents of the Company on such date and (ii) the aggregate amount of the Available Facility and unused commitments under other credit facilities of the Company is greater than US$2,000,000,000.

2.REQUEST

Pursuant to Clause 33 (Amendments and waivers), we request that the Majority Lenders:

(a)extend the Relevant Period such that it ends on (and includes) 1 January 2022 instead of 1 July 2021; and

(b)consent to the amendment and restatement of the Facility Agreement in the form attached as the Schedule to the enclosed acknowledgement to this Letter.

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

3.EFFECTIVENESS AND AMENDMENTS

(a)the extension of the Relevant Period as set out in paragraph 2(a) above shall become effective; and

(b)the Facility Agreement will be amended and restated in the form attached as the Schedule to the enclosed acknowledgement of this Letter.

On and from the Effective Date, any reference to the Facility Agreement in any other Finance Document shall be read as a reference to the Facility Agreement as amended by this Letter.

4.CONSENT FEE

(a)As consideration for the Lenders granting the waiver extension and consenting to the amendment and restatement of the Facility Agreement as set out in paragraph 2 above, the Company shall pay (or shall cause to be paid) to the Agent for the account of the Lenders (the "Consenting Lenders") that have agreed to the waiver extension and amendment and restatement requested in this Letter by close of business on 11 September 2020 (the "Consent Approval Date"):

(i)a fee payable in USD in an aggregate amount equal to [***]% of the aggregate USD Commitments of the Consenting Lenders as at the Consent Approval Date (the "USD Consent Fee"); and

(ii)a fee payable in HKD in an aggregate amount equal to [***]% of the aggregate HKD Commitments of the Consenting Lenders as at the Consent Approval Date (the "HKD Consent Fee"),

in each case, within 10 Business Days following the Effective Date (or such later date as agreed between the Company and the Agent) (the "Payment Date").

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

(e)The USD Consent Fee shall be paid into the following bank account (or such other bank account you notify to us in writing at least 3 Business Days prior to the Payment Date):


Account Bank:
Name of Account:
Account Number:
Ref:

The HKD Consent Fee shall be paid into the following bank account (or such other bank account you notify to us in writing at least 3 Business Days prior to the Payment Date):


Account Bank:
Name of Account:
Account Number:
Ref:

(f)The Consent Fee shall only be payable if the Effective Date occurs.

5.REPRESENTATIONS

The Company confirms to the Agent and each other Finance Party that on the date of this Letter and on the Effective Date:

(a)the Repeating Representations (which are not qualified by a Material Adverse Effect or any other materiality threshold) are true in all material respects; and

(b)the Repeating Representations (which are qualified by a Material Adverse Effect or any other materiality threshold) are true in all respects; and

(c)the Repeating Representations would also be true (as qualified above) if references to the Facility Agreement were construed as references to the Facility Agreement as amended by this Letter.

6.MISCELLANEOUS

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

amendment to, consent under or waiver or variation of any provision of any Finance Document.

(b)Subject to the waiver extension and amendment and restatement of the Facility Agreement as set out in paragraphs 2 and 3 above, the Facility Agreement and the other Finance Documents shall remain in full force and effect in accordance with its terms.

(c)This Letter is a Finance Document for the purposes of the Facility Agreement.

(d)This Letter may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Letter.

7.GOVERNING LAW

This Letter is governed by and construed in accordance with Hong Kong law.

Please acknowledge your agreement to, and acceptance of, the terms of this Letter by signing, dating and returning the enclosed acknowledgement of this Letter as soon as possible.

Yours faithfully,

SANDS CHINA LTD.

Acting by:


/s/ Sun Minqi (Dave Sun)
Title: Senior Vice President and Chief Financial Officer
Name: Sun Minqi (Dave Sun)

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

Acknowledgement of Waiver Extension and
Amendment and Restatement of Facility Agreement

Re: Sands China Ltd. – US$2,000,000,000 Facility Agreement dated 20 November 2018
(the "Facility Agreement")

The Agent (acting on the instructions of the Majority Lenders) hereby acknowledges the waiver extension and amendment and restatement of the Facility Agreement requested in the letter dated 24 August 2020 (the "Letter") and agrees to the terms of the Letter and that with effect on and from the Effective Date (as defined in the Letter):

(a) the waiver extension and amendments requested in the Letter shall be effective; and

(b) the Facility Agreement shall be amended and restated in the form as attached as the Schedule hereto.

THE AGENT


/s/ Wong Iao Kun
Title: Deputy Director, Credit Administration Department
Name: Wong Iao Kun

For and on behalf of
BANK OF CHINA LIMITED, MACAU BRANCH

as Agent and on behalf of each other Finance Party under and as defined in the Facility Agreement

Dated: September 11, 2020

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

EXHIBIT III

COPY OF THE THIRD LETTER
(without original exhibits)

SANDS CHINA LTD. 金沙中國有限公司

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschina.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)
HKEx Stock Code股份代碼 : 1928

To: BANK OF CHINA LIMITED, MACAU BRANCH, acting as agent under the Facility Agreement (as defined below) on behalf of the Finance Parties (as defined in the Facility Agreement) (the "Agent")

17 June 2021

Dear Sirs,

Extension Request Letter

Capitalised terms used but not defined in this extension request letter (this "Letter") shall have those meanings given to them in the Facility Agreement. References herein to Clauses and Schedules are to clauses of, and schedules to, the Facility Agreement.

1BACKGROUND

(a)Pursuant to the First Letter, the Lenders have agreed to, among other things:

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

(b)Pursuant to the Second Letter, the Lenders have agreed to, among other things:

(i)extend the Relevant Period such that it ends on (and includes) 1 January 2022 instead of 1 July 2021; and

(ii)amend and restate the Facility Agreement in order to, among other things:

(1)insert Clause 2.1A (Increase) into the Facility Agreement, which provides the Company with the option to increase the Total Commitments by an aggregate amount of up to the Base Currency Amount of US$1,000,000,000; and

(2)insert Clause 21.15 (Restriction on dividends) into the Facility Agreement, which restricts the ability of the Company to declare or make any dividend payment or other distribution of assets, properties, cash, rights, obligations or securities on account of any shares of any class of capital stock of the Company at any time during the period from (and including) 1 July 2020 to (and including) 1 January 2022 (the "Dividend Restriction Period") if at such time:

(A)the Total Commitments exceed US$2,000,000,000 by operation of the increase pursuant to Clause 2.1A (Increase) of the Facility Agreement; and

(B)the Consolidated Leverage Ratio specified in the most recent Compliance Certificate received by the Agent is greater than 4.0x,

unless, after giving effect to such payment, the Liquidity is greater than US$2,000,000,000.

(c)As at the date hereof, the Total HKD Commitments have been increased by HK$3,826,250,000 to an aggregate amount of HK$17,632,655,600 pursuant to Clause Clause 2.1A (Increase). The Total USD Commitments remain at the amount of US$237,000,000. As at the date hereof, the Total Commitments therefore exceed US$2,000,000,000 by operation of the increase pursuant to Clause 2.1A (Increase).

(d)Clause 19.1(a) (Financial statements) requires the Company to supply the Agent with (among other things), as soon as the same becomes available, but in any event within 90 days after the end of each of its financial years, its audited consolidated financial statements for that financial year.

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

(e)The purpose of this Letter is to request the Majority Lenders to:

(i)further extend the Relevant Period such that it ends on (and includes) 1 January 2023 instead of 1 January 2022; and

(ii)for the purposes of Clause 19.1(a) (Financial statements), extend the deadline by which the Company shall supply the Agent with its audited financial statements for the financial year ended on 31 December 2021 (the "2021 Financials Delivery Deadline") from 90 days after 31 December 2021 to 30 April 2022,

in consideration of which the Company will:

(1)pay to the Agent, for the account of the relevant consenting Lenders, a consent fee as set out in paragraph 4 below; and

(2)for the purposes of Clause 21.15 (Restriction on dividends), agree to the extension of the Dividend Restriction Period such that it ends on (and includes) 1 January 2023 instead of 1 January 2022.

2.REQUEST

Pursuant to Clause 33 (Amendments and waivers), we request that the Majority Lenders:

(a)further extend the Relevant Period such that it ends on (and includes) 1 January 2023 instead of 1 January 2022; and

(b)for the purposes of Clause 19.1(a) (Financial statements), extend the 2021 Financials Delivery Deadline from 90 days after 31 December 2021 to 30 April 2022,

subject to each of the following:

(1)payment by the Company of the consent fee as set out in paragraph 4 below; and

(2)the Dividend Restriction Period being extended, for the purposes of Clause 21.15 (Restriction on dividends), such that it ends on (and includes) 1 January 2023 instead of 1 January 2022.

(3)EFFECTIVENESS AND AMENDMENT

(a)The Company and the Agent (acting on behalf of the Majority Lenders) agree that, with effect on and from the date of countersignature of this Letter by the Agent (acting on behalf of the Majority Lenders) (the "Effective Date"), the respective extensions of the

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

Relevant Period, the Dividend Restriction Period and the 2021 Financials Delivery Deadline as set out in paragraph 2 above shall become effective.

(b)On and from the Effective Date, any reference to the Facility Agreement in any other Finance Document shall be read as a reference to the Facility Agreement as amended by this Letter.

(4)CONSENT FEE

(a)As consideration for the Lenders granting the respective extensions as set out in paragraph 2 above, the Company shall pay (or shall cause to be paid) to the Agent for the account of the Lenders (the "Consenting Lenders") that have agreed to the extensions requested in this Letter by 4:00 p.m. (Macao time) on 6 July 2021 (the "Consent Approval Date"):

(i)a fee payable in USD in an aggregate amount equal to [***]% of the aggregate USD Commitments of the Consenting Lenders as at the Consent Approval Date (the "USD Consent Fee"); and

(ii)a fee payable in HKD in an aggregate amount equal to [***]% of the aggregate HKD Commitments of the Consenting Lenders as at the Consent Approval Date (the "HKD Consent Fee"),

in each case, within 10 Business Days following the Effective Date (or such later date as agreed between the Company and the Agent) (the "Payment Date").

(e)The Company hereby instructs and authorises the Agent to, on the Payment Date:

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

(f)The Consent Fee shall only be payable if the Effective Date occurs.

(5)REPRESENTATIONS

The Company confirms to the Agent and each other Finance Party that on the date of this Letter and on the Effective Date:

(a)the Repeating Representations (which are not qualified by a Material Adverse Effect or any other materiality threshold) are true in all material respects; and

(b)the Repeating Representations (which are qualified by a Material Adverse Effect or any other materiality threshold) are true in all respects; and

(c)the Repeating Representations would also be true (as qualified above) if references to the Facility Agreement were construed as references to the Facility Agreement as amended by this Letter.

(6)MISCELLANEOUS

(b)Subject to the extensions of the relevant dates as set out in paragraphs 2 and 3 above, the Facility Agreement and the other Finance Documents shall remain in full force and effect in accordance with its terms.

(c)This Letter is a Finance Document for the purposes of the Facility Agreement.

(d)This Letter may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Letter.

(7)GOVERNING LAW

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

This Letter is governed by and construed in accordance with Hong Kong law.

Please acknowledge your agreement to, and acceptance of, the terms of this Letter by signing, dating and returning the enclosed acknowledgement of this Letter as soon as possible.

Yours faithfully,

SANDS CHINA LTD.

Acting by:


/s/ Sun Minqi (Dave Sun)
Title: Senior Vice President and Chief Financial Officer
Name: Sun Minqi (Dave Sun)

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928

Acknowledgement of Extensions

Re: Sands China Ltd. – US$2,000,000,000 Facility Agreement dated 20 November 2018
(as amended and restated from time to time)

The Agent (acting on the instructions of the Majority Lenders) hereby:

(a) acknowledges the following extensions as requested in the letter dated 17 June 2021 (the "Letter"):

(i) the further extension of the Relevant Period (as defined in the Letter); and

(ii) the extension of the 2021 Financials Delivery Deadline (as defined in the Letter),

in each case subject to (1) the payment of the consent fee as set out in the Letter and (2) the extension of the Dividend Restriction Period (as defined in the Letter); and

(b) agrees to the terms of the Letter and that the respective extensions of the Relevant Period, the 2021 Financials Delivery Deadline and the Dividend Restriction Period shall be effective on and from the Effective Date (as defined in the Letter).

THE AGENT


/s/ Wong Iao Kun
Title: Deputy Director of Credit Admin. Dept.
Name: Wong Iao Kun

For and on behalf of
BANK OF CHINA LIMITED, MACAU BRANCH

as Agent and on behalf of each other Finance Party under and as defined in the Facility Agreement

Dated: 7 July 2021

SANDS CHINA LTD. 金沙中國有限公司*

Estrada da Baía de N. Senhora da Esperança, Taipa, Macao SAR 澳門氹仔望德聖母灣大馬路

www.sandschinaltd.com


(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司)			*For identification purposes only僅供識別
HKEx Stock Code股份代碼 : 1928