DF Completes Partnership with Robinsons in Phl

DAIRY FARM COMPLETES PARTNERSHIP WITH ROBINSONS IN THE PHILIPPINES

Further to its announcement on 23rd March 2018, Dairy Farm International Holdings Limited is pleased to announce today the completion of the combination of its wholly-owned food retail business, Rustan Supercenters, Inc. ('RSCI'), with Robinsons Retail Holdings, Inc. ('RRHI').

Dairy Farm has exchanged its interest in RSCI for new shares in RRHI representing some 12.15% of its enlarged share capital and has acquired a further 6.1% interest in the enlarged share capital from the existing controlling shareholders. This, together with certain on-market purchases made since this transaction was announced on 23rd March 2018, gives Dairy Farm a total current shareholding of 20% in RRHI. As at the date of this announcement, the Gokongwei family, being the controlling shareholders, continue to hold a 51% interest in RRHI.

Jonathan Lloyd, Jardine Matheson LimitedFor and on behalf of Dairy Farm International Holdings Limited23rd November 2018

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