ISETAN (SINGAPORE) LIMITED

Company Registration No.: 197001177H

(Incorporated in the Republic of Singapore)

EXPIRATION OF LEASE

The Board of Directors (the "Board") of Isetan (Singapore) Limited (the "Company") wishes to announce that the lease with Prime Asset Holdings Limited ("Landlord") in respect of the Company's store in Parkway Parade will expire on 9 March 2022. The lease had been extended for a period of 15 months from the end of the previous term.

Negotiations with the Landlord for a further extension of the lease did not yield a positive result. The Company has no immediate plans to find a replacement store and will continue to maintain its retailing operations via its remaining stores at Shaw House, Tampines Mall and NEX.

The financial effect of the eventual expiry of the lease for the current and next financial year cannot be reasonably estimated as at the date of this announcement.

BY ORDER OF THE BOARD

LUN CHEE LEONG

COMPANY SECRETARY

13 August 2021

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Isetan (Singapore) Limited published this content on 13 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2021 00:50:06 UTC.