AEON Stores Hong Kong : DELAY IN DESPATCH OF CIRCULAR

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.

AEON STORES (HONG KONG) CO., LIMITED

永旺（ 香港）百貨有限公司

(Incorporated in Hong Kong with limited liability)

(Stock code: 984)

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement (the "Announcement") of AEON Stores (Hong Kong) Co., Limited (the "Company") dated 8 July 2020 in respect of the major transaction in relation to the Lease Renewal Agreement. Terms used herein shall have the same meanings as those defined in the Announcement, unless the context requires otherwise.

As disclosed in the Announcement, a circular (the "Circular") containing, among other things, further information on the Lease Renewal Agreement and the transaction contemplated thereunder is expected to be despatched to the Shareholders for information purposes on or before 29 July 2020.

As additional time is required for the Company to finalise certain information in the Circular, the Company will submit an application to The Stock Exchange of Hong Kong Limited for a waiver from strict compliance with the Rule 14.41(a) of the Listing Rules and extension of time for dispatching the Circular on or before 28 September 2020. Further announcement will be issued by the Company for the Shareholder's information if there is any further update in this regard.

By Order of the Board

AEON Stores (Hong Kong) Co., Limited

Yuki HABU

Chairman

Hong Kong, 29 July 2020

As at the date of this announcement, the Executive Directors are Mr. Isei Nakagawa, Mr. Chak Kam Yuen, Mr. Lau Chi Sum Sam, Mr. Takenori Nagashima and Mr. Shinya Hisanaga; the Non-executive Directors are Ms. Yuki Habu and Mr. Akinori Yamashita; and the Independent Non-executive Directors are Ms. Chan Yi Jen Candi Anna, Ms. Lo Miu Sheung, Betty, Mr. Chow Chi Tong and Mr. Hideto Mizuno.