We refer to the Company’s announcement dated 6 November 2025 in relation to the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of the Company listed on The HKEx, in relation to the major transaction on (i) the renewal of tenancy in Chengdu City, Sichuan Province, the People’s Republic of China; and (ii) the supplemental agreement to the Chengdu Renewal Agreement ("Major Transaction") ("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 25 November 2025, published a circular in relation to the Major Transaction which included details of the Chengdu Renewal Agreement and the Supplemental Agreement as required under the Listing Rules, which can be downloaded from the website of The HKEx at https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1125/2025112500597.pdf.