"Retail today demands more than scale, it requires agility, digital precision and deep customer trust," said Dr. Malina Ngai, Group CEO of AS Watson. "Being ranked among the world's top 15 retailers is a timely affirmation that we are focusing on the right priorities: disciplined allocation of capital, an unwavering focus on customers, empowered by technology and executed with discipline."

"As we celebrate our 185^th anniversary this year, this recognition is especially meaningful. Since 1841, AS Watson has evolved through generations of change - economic cycles, technological revolutions and shifting consumer expectations. Our presence across Asia and Europe has strengthened our ability to combine the speed and digital dynamism of Asia with the operational excellence and retail heritage of Europe."

"In an increasingly digital retail world, we believe our true differentiation lies in combining advanced data, AI and seamless O+O (Offline plus Online) integrated capabilities with something far more enduring - the human touch. That combination of digital precision and human service drives stronger conversion, deeper loyalty and long-term trust. It is this balance that has sustained us for 185 years, and will continue to define our leadership in the years ahead."

Scaling AI and Personalisation at Global Reach

AS Watson has accelerated investments in AI-powered personalisation, advanced analytics and digital ecosystems across its brands. By integrating loyalty data, online platforms and in-store engagement, the Group continues to enhance customer relevance while improving operational efficiency.

This data-driven approach enables:
- A strengthened focus on customer needs
- More precise assortment and pricing strategies
- Enhanced loyalty engagement
- Faster supply chain responsiveness

Resilient Growth in a Volatile Environment

Amid ongoing supply chain volatility, cost pressures and shifting consumer behaviour, AS Watson has demonstrated resilience through diversified geographic exposure, strong local market execution and disciplined cost management.

The Group's scale, combined with agile regional operations, positions it to respond swiftly to market dynamics while sustaining long-term growth.

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The issuer is solely responsible for the content of this announcement.

About AS Watson Group

Established in 1841, AS Watson Group is one of the world's longest-standing and most recognised retail companies with roots in Asia. Today, the company operates over 17,000 stores across 12 retail brands in 31 markets, employing 130,000 people globally. This makes AS Watson Group the largest international health and beauty retailer in the world.

In the fiscal year 2025, AS Watson Group reported revenue of over US$26 billion. The company's technology-enabled O+O (Offline plus Online) platforms serve over 6 billion shoppers annually, seamlessly integrating physical and digital retail experiences.

AS Watson Group supported over 180 charitable and non-profit organisations every year, dedicating over 40,000 hours of volunteer work to serve over 370,000 people in need in our operating markets.

AS Watson Group is also a member of the world-renowned multinational conglomerate CK Hutchison Holdings Limited, which has four core businesses ‐ ports and related services, retail, infrastructure and telecommunications in over 50 countries.

Please visit www.aswatson.com/our-company/o-and-o-strategy/ for more information.

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