We refer to the Company's announcements dated 27 July 2020 and 8 February 2021 in relation to the announcements made to the Singapore Exchange Securities Trading Limited ("SGX-ST") by Parkson Retail Asia Limited ("PRA"), a 67.96% owned subsidiary of the Company listed on the SGX-ST, in relation to the proposed disposal by Parkson Haiphong Co., Ltd. ("PHCL"), an indirect wholly-owned subsidiary of PRA, of the whole retail podium of Parkson TD Plaza Shopping Center, a mixed commercial and residential development in Hai Phong City, Vietnam to Thuy Duong Construction & Trading Joint Stock Company ("Purchaser") ("Proposed Disposal"), and the update on the Proposed Disposal (collectively, the "Announcements").

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

On 16 June 2021, PRA had announced that PHCL and the Purchaser had on even date entered into an addendum to the Amended and Restated Asset Transfer Agreement dated 8 February 2021 to amend some of the terms of the Proposed Disposal in relation to the payment terms of the Consideration and the extension of time to fulfil the conditions precedent ("PRA Announcement"). A copy of the PRA Announcement is attached herewith.

PRA will make further announcements as and when appropriate.