Isetan (Singapore) Limited

2023 AGM

28 April 2023

ADDRESS BY CHAIRMAN OF BOARD

Isetan

AGM Disclaimer

2023

This presentation contains certain statements that are not statements of historical fact, i.e., forward-looking statements. The information is based on certain views and assumptions and would thus involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in these forward-looking statements as a result of a number of risks, uncertainties and assumptions. Such statements are not and should not be construed as a representation as to the future of Isetan (Singapore) Limited and should not be regarded as a forecast or projection of future performance.

No reliance should therefore be placed on these forward-looking statements, which are based on the current view of the management of on future events. The presentation is also not to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. Isetan (Singapore) Ltd accepts no responsibility whatsoever with respect to the use of this document or any part thereof.

In this presentation, all $ dollar amounts are in Singapore dollars unless otherwise specified.

Isetan

AGM Content 2023

  1. OUR RETAIL BUSINESS
  2. OUR INVESTMENT PROPERTY BUSINESS
  3. MOVING AHEAD

OUR RETAIL BUSINESS

5

OUR RETAIL BUSINESS

Core Business:

-Our retail business continues to be one of the Company's core business segments with its 2022 revenue forming about 88% of the Company's total 2022 revenue.

Easing of Covid-19 pandemic Safe Management Measures:

-The Government announced the easing of the Safe Management Measures from late April 2022 and subsequently downgraded its "Disease Outbreak Response System Condition" framework (DORSCON)

from orange to yellow in April 2022, then to green in February 2023.

-This had a positive impact on the retail segment as there was stronger instore traffic and we could resume more of our retail sales activities like our mall atrium events.

-Despite the closure of our Isetan Katong store at the end of January 2022, the retail segment still managed to register a 0.09% increase in its revenue in 2022 versus 2021.

-Our Managing Director will elaborate further on the retail segment's performance in his presentation later.

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Isetan (Singapore) Limited published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2023 08:05:09 UTC.