AEON Stores Hong Kong : GRANT OF WAIVER UNDER RULE 14.41(a) OF THE LISTING RULES

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)

GRANT OF WAIVER

UNDER RULE 14.41(a) OF THE LISTING RULE

Reference is made to 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 (the "Announcement") and the Company's announcement dated 29 July 2020 in relation to delay in despatch of the Circular (the "Delay Announcement"). Terms used herein shall have the same meanings as those defined in the Announcement, unless the context requires otherwise.

As disclosed in the Delay Announcement, additional time is required for the Company to finalize certain information in the Circular and the Company would submit an application to the Stock Exchange for a waiver from strict compliance with Rule 14.41(a) of the Listing Rules (the "Waiver") and extension of time for dispatching the Circular on or before 28 September 2020.

The Company needed to apply for a Waiver because the Company needed more time to finalize the financial information to be included in the Circular including the indebtedness and working capital confirmation from the auditors, and the works relating to such information were affected by the pandemic situation and the auditor's commitments in relation to the interim results for the six-month period ended 30 June 2020 of the Company and other tasks.

On 14 September 2020, the Stock Exchange granted the Waiver to the Company provided that the Company will despatch the Circular on or before 25 September 2020. The Stock Exchange may withdraw or change the terms of the Waiver if the Company's situation changes.

By Order of the Board

AEON Stores (Hong Kong) Co., Limited

Yuki HABU

Chairman

Hong Kong, 15 September 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.