We refer to the Company's announcement dated 6 June 2024 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 transactions on the supplemental agreements to the tenancy agreements in respect of properties in Shenyang and Harbin, the People's Republic of China ("Announcement").

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

On 25 June 2024, PRGL had announced that as additional time is required for preparing and finalising the contents of the circular in relation to the Tenancies Renewal Transactions and the Supplemental Agreements ("Circular"), including but not limited to the valuation report, statement of indebtedness and statement of working capital sufficiency, PRGL had applied to The HKEx for a waiver from strict compliance with Rule 14.41(a) of the Listing Rules. The HKEx has granted the waiver on the condition that PRGL will despatch the Circular on or before 26 July 2024, and disclose the details of the waiver by way of an announcement. The waiver applies to the timeline for the despatch of the Circular only and The HKEx may withdraw or change the waiver if PRGL's situation changes. A copy of PRGL's announcement is attached herewith.