The board of directors of AEON Stores (Hong Kong) Co., Limited announced that, with effect from on 28 March 2024, Mr. Isei Nakagawa ("Mr. Nakagawa"), a Non-executive Director, has ceased to be the Chairman of the Board, the Chairman of the Nomination Committee and a member of each of the Audit Committee and the Remuneration Committee. Mr. Nakagawa will remain a Non-executive Director until his retirement at the conclusion of the 2024 annual general meeting ("2024 AGM") of the Company to be held before the end of May 2024. Mr. Nakagawa, after having served on the Board for 5 years from 2019, will take up new top management post in a subsidiary of AEON Co. Ltd., the ultimate holding company of the
Company, and will not stand for re-election as a Director at the 2024 AGM. The Board also announced the retirement of Mr. Makoto Fukuda ("Mr. Fukuda") as a Non- executive Director effective from the conclusion of the 2024 AGM. Mr. Fukuda, after having served on the Board for three years from May 2021, would like to devote more of his time on his work as the general manager of the Finance Department of AEON Co. Ltd. and will not stand for re-election as a Director at the 2024 AGM. The Board further announces that Mr. Toshiya Goto ("Mr. Goto"), a Non-executive Director, has been appointed as the Chairman of the Board, the Chairman of the Nomination Committee and a member of each of the Audit Committee and the Remuneration Committee with effect from 28 March 2024. Mr. Goto (aged 64) was appointed as a Non-executive Director of the Company in April 2023. He is the executive officer of AEON Co. Ltd. in charge of China Business and the chairman and president of AEON (China) Co. Ltd. Mr. Goto joined AEON Retail Co. Ltd. ("ARCL") in 1984. Since then, he was assigned to assume different positions in ARCL. He was appointed the president of Beijing AEON Co. Ltd. for the period from May 2011 to May 2013, and the president of Qingdao AEON Dongtai Co. Ltd. for the period from May 2013 to February 2015. He was appointed as the director and executive vice president of ARCL in charge of Product and Inner-Casual business in March 2019 and subsequently appointed the director and executive vice president of ARCL in charge of Product in March 2020.