Parkson Retail Group Limited — M&A Activity 2020

Oct 19, 2020

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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PARKSON RETAIL GROUP LIMITED 百盛商業集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 3368)

PROGRESS UPDATE ANNOUNCEMENT IN RELATION TO THE MAJOR TRANSACTION – FORMATION OF JOINT VENTURE

Reference is made to the announcement of Parkson Retail Group Limited (the “ Company ”) dated 16 October 2020 (the “ Announcement ”) in relation to the Joint Venture Cooperation Agreement entered into between Shanghai Shengrui (an indirect wholly-owned subsidiary of the Company) and Hongxiang Real Estate on 15 October 2020 in respect of the formation of the Joint Venture. Unless otherwise defined in this announcement, capitalised terms herein shall have the same meanings as those defined in the Announcement.

The Board is pleased to announce that on 19 October 2020, Shanghai Shengrui and Hongxiang Real Estate have successfully won the bid for the auction for the land use rights of the land located at the east of Qingfeng Road Green Belt Area, south of Guangze Road, west of Yundong Road and north of Zuili Road Green Belt Area, Jiaxing City of Zhejiang Province in the PRC（中國浙江省嘉興市東至慶豐路綠化帶、南至廣澤路、西至云東路及北至槜 李路綠化帶）with a total site area of 130,294 square meters for commercial and residential purposes. Pursuant to the terms of the Joint Venture Cooperation Agreement Shanghai Shengrui and Hongxiang Real Estate shall proceed to establish the Joint Venture.

If there is other substantial progress in relation to the Joint Venture Cooperation Agreement, announcement will be made in accordance with the Listing Rules.

Yours faithfully, For and on behalf of the Board PARKSON RETAIL GROUP LIMITED Tan Sri Cheng Heng Jem Executive Director and Chairman

19 October 2020

As at the date of this announcement, the Executive Directors of the Company are Tan Sri Cheng Heng Jem and Ms. Juliana Cheng San San, the Non-executive Director is Dato’ Sri Dr. Hou Kok Chung and the Independent Non-executive Directors are Dato’ Fu Ah Kiow, Mr. Ko Desmond and Mr. Yau Ming Kim, Robert.