We refer to the Company's announcement dated 8 May 2026 in relation to the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") by Parkson Retail Group Limited ("PRGL"), listed on The HKEx and a 54.97% owned subsidiary of the Company, on the very substantial acquisition in relation to the renewal of a tenancy in Shanghai, the People's Republic of China ("Very Substantial Acquisition") ("Earlier Announcement").

Unless otherwise stated, the terms used throughout this announcement shall have the same meaning as defined in the Earlier Announcement.

PRGL had on 15 June 2026, published a circular in relation to the Very Substantial Acquisition which included details of the Shanghai Renewal Agreement and the Shanghai Hongqiao Tenancy as required under the Listing Rules, which can be downloaded from the website of The HKEx at https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0615/2026061500866.pdf.