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A Platform Designed for Collaboration

KCM Trade Copy is a dedicated mobile application that allows clients to automatically replicate the trades of experienced Master Traders in real time. Through the app, users can browse detailed trader profiles, review historical performance data, and select strategies that match their individual goals and risk preferences.

Once a Master Trader is selected, their trades are automatically replicated in the client’s account in real time, allowing users to participate in the markets without the need for constant monitoring or manual trading. Meanwhile, experienced traders can join the platform as Signal Providers, showcase their performance, grow a following, and earn profit-sharing fees, fostering a collaborative and opportunity-driven trading community.

Key features of KCM Trade Copy include:

• Real-time automated trade replication
• Full transparency through detailed performance data
• User control with adjustable lot sizes and risk limits
• The ability to follow multiple Masters simultaneously
• Secure infrastructure with segregated accounts and SSL protection
• Fast execution and competitive trading conditions

By combining these capabilities within a single mobile application, KCM Trade Copy provides clients with a convenient and efficient way to engage with the global financial markets.

Supporting Traders Through Innovation

The launch of KCM Trade Copy is part of KCM Trade‘s broader strategy to continuously improve the trading experience for clients around the world. By integrating new technology alongside its established MT4 and MT5 offerings, the company is expanding opportunities for traders of all experience levels to participate in the markets with greater flexibility and convenience.

Commitment to Client-Centric Growth

With the launch of KCM Trade Copy, the company aims to foster a more inclusive environment where clients can choose strategies that align with their individual goals while strengthening long-term relationships with its global client base.

Looking ahead, the company plans to further enhance the platform, including the development of a web-based version, as part of its ongoing efforts to build a comprehensive suite of trading tools designed to serve modern investors.

Hashtag: #KCMTrade #KCMTradeCopy #10years #globalbrokers

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• Strategic Investment of S$3-5 billion in Singapore to advance AI-ready data centre developments, supporting over 2 GW of AI-ready capacity globally, and driving technological innovation with international ecosystem partners.
• First-mover advantage as one of Asia Pacific’s top three hyperscale data centre developers, with proven track record delivering large-scale campus developments in Malaysia, Thailand and India, supporting regional AI and cloud demand.
• Pioneering sustainable energy solutions, including Singapore’s first floating hydrogen power generation model leveraging the nation’s strengths in maritime transport, port infrastructure and global energy supply chains and research into nuclear energy as a future clean power source for data centres.
• Building an integrated innovation ecosystem in Singapore through partnerships with universities, research institutions and global technology companies, while supporting job creation and talent development initiatives for around 3,000 students and professionals.

SINGAPORE – Media OutReach Newswire – 12 March 2026 – Bridge Data Centres (BDC), a Singapore-headquartered digital infrastructure platform backed by Bain Capital, has announced ambitious plans to invest S$3-5 billion in Singapore to advance next-generation digital infrastructure and strengthen the country’s position as a leading AI and cloud hub in Asia Pacific.

BDC had announced its new strategic brand identity in early 2026 that reflects the Company’s position of being a leading hyperscale and AI-infrastructure builder with a growing network of mega-campus developments in Asia Pacific. With close to a decade of experience developing high quality data centres, BDC’s new brand identity reflects BDC’s reputation as platform built on disciplined execution, certainty of delivery, and the ability to scale with customers.

As AI and high-density workloads accelerate across Asia Pacific, customers are looking for partners who can offer world-class capabilities and local agility, provide bespoke solutions at scale, and deliver and operate with a proven track record.

With Singapore serving as its global headquarters, BDC is uniquely positioned to support hyperscale customers and global technology companies seeking high-performance, sustainable and scalable data centre platforms across Asia Pacific, while enabling global technology companies to establish and expand their presence in Singapore as they develop AI and digital capabilities in the region.

Over the past decade, BDC has established itself as one of Asia Pacific’s leading digital infrastructure developers and operators. The Company currently operates and develops hyperscale campuses across Malaysia, Thailand and India.

Building on strong relationships with global hyperscale customers and ecosystem partners, BDC is on track to expand its regional capacity to approximately 2 GW by 2030.

By deepening its investments in Singapore, BDC aims to support customers seeking world-class digital infrastructure expertise, strong technology partnerships and integrated energy solutions that enable the sustainable growth of AI workloads.

First-mover advantage

BDC is among the first data centre developers to foray into Malaysia, where the Company has several large-scale data centre campuses – both operational and under development.

BDC’s flagship MY06 campus is the Company’s first project in Johor, as well as the state’s first hyperscale data centre development. In addition, BDC is the first data centre developer in Southeast Asia to adopt a build-to-suit (BTS) model for hyperscale data centre construction. BDC was also among the first hyperscale operators in the region to deploy advanced liquid cooling technologies at scale, including cold plate liquid cooling, to support high-density and AI-driven workloads. BDC’s suite of sustainability initiatives at MY06 enabled the facility to achieve an annualised Power Usage Effectiveness (PUE) of below 1.2.

BDC is also the first in Southeast Asia to incorporate Prefabricated, Prefinished Volumetric Construction (PPVC) construction, an innovative method that assembles large building sections off site. This enabled BDC to complete MY06 within eight months, which is 40 per cent faster than traditional methods, while reducing on-site dust, waste and noise. This strategy is one of BDC’s key competitive advantages to support the growing needs of hyperscale customers in the region, including Singapore, who need to rapidly scale to meet increasing demand for more capacity to power AI-workloads.

BDC has built Malaysia’s first large-scale Water Treatment Plant (WTP) to treat effluent and convert it into high grade effluent water to cool its upcoming 400MW campus in Ulu Tiram, Johor. The WTP applies advanced Membrane Bioreactor (MBR) and Reverse Osmosis (RO) technologies to deliver superior water recovery and quality. Since commencing operations in 2025, the WTP has been significantly reducing reliance on potable water. It further strengthens the long-term resilience of BDC’s operations and supports Johor’s broader environmental agenda.

The WTP has also attracted interest from regional public agencies. In 2025, BDC hosted a technical visit by representatives from PUB, Singapore’s National Water Agency, who were presented with an overview of the plant’s design and its use of advanced membrane technologies for sustainable water reuse in data centre operations.

BDC’s MY-06 Campus (Building 1) has achieved Singapore’s BCA Green Mark Platinum Award granted under the BCA-IMDA Green Mark International for Data Centres 2024 (GMDC: 2024) framework. The BCA Green Mark Award recognises developers, building owners and individuals who have made outstanding achievements in environmental sustainability in the built environment. BDC is the first data centre operator to achieve this recognition for a facility based outside of Singapore. Beyond project certification, BDC has also signed a Memorandum of Understanding with BCA International (BCAI) to support the international adoption of Singapore’s Green Mark standards in global data centre developments. Through this partnership, BDC will promote Singapore’s sustainable building standards globally while reinforcing the country’s position as a leading AI and green digital infrastructure hub in the region.

These capabilities are aligned with Singapore’s Green Data Centre (DC) Roadmap, which emphasises energy efficiency, sustainable resource use and the integration of green energy to support the growth of digital infrastructure. BDC’s experience in delivering high-efficiency campuses positions it well to contribute to these objectives through practical, deployable solutions.

Pioneering energy solutions

As AI workloads drive the rapid expansion of digital infrastructure, energy resilience, data security and sustainability are becoming increasingly important. BDC is advancing a range of initiatives to explore alternative energy pathways and strengthen long-term power strategies.

A key collaboration is with Concord New Energy (CNE), where the partners are jointly developing Singapore’s first floating hydrogen power generation solution tailored for next-generation AI digital infrastructure, marking a significant milestone in advancing low-carbon energy pathways for the data centre sector.

BDC and CNE will also collaborate with Nanyang Technological University (NTU) to support the development of Singapore’s hydrogen ecosystem, accelerating research, engineering and the deployment of scalable clean energy technologies for digital infrastructure applications.

In addition, BDC is working with Singapore’s Agency for Science, Technology and Research Institute of High Performance Computing (A*STAR IHPC) and HY to evaluate the potential of nuclear energy as a long-term clean power source for data centres.

BDC’s alliance with A*STAR IHPC and HY will leverage advanced modelling and engineering expertise to explore innovative low-carbon energy pathways that will support Singapore’s sustainable digital growth while reinforcing the nation’s position as a trusted global technology hub.

BDC has also established partnerships with global leaders in energy and energy storage technologies, including CATL, EcoCeres, SK Innovation. Through these collaborations, the partners will jointly explore the establishment of innovation and research platforms to advance the development and pilot deployment of clean energy solutions such as hydrogen and biomass energy, as well as next-generation energy storage technologies designed for tropical climates. These initiatives aim to enhance thermal management, improve safety performance and increase the power density of data centre energy storage systems.

These collaborations and pilot initiatives will also contribute to talent development and workforce capability building in Singapore’s digital infrastructure and energy sectors. Through joint research programmes, technology pilots and knowledge exchange with universities, research institutions and industry partners, BDC aims to support the development of specialised expertise in areas such as advanced energy systems, sustainable data centre design, and next-generation cooling and energy storage technologies.

The initiatives are also expected to create high-value job opportunities in Singapore, spanning engineering, energy systems research, digital infrastructure operations and advanced technology development. By nurturing local talent and strengthening cross-disciplinary capabilities, these efforts will help build a robust talent pipeline to support Singapore’s growing AI and digital infrastructure ecosystem.

These partnerships represent a strategic step in BDC’s long-term roadmap to diversify power sourcing pathways, enhance energy security, and future-proof its Singapore data centre portfolio amid evolving grid constraints and decarbonisation dynamics. They also reinforce Singapore’s position as a regional hub for AI-ready digital infrastructure, while supporting the nation’s broader ambitions in sustainable energy innovation and green economic growth. Furthermore, these advancements accelerate Singapore’s ambition to achieve its net zero emissions goal by 2050.

Advancing technology and ecosystem growth

BDC is also pushing the envelope in innovative and sustainable cooling solutions through collaborations with ecosystem technology partners such as Vertiv, Terahop and Teracule, which are subsidiaries of Zhongji Innolight, as well as Delta Electronics and Supermicro.

Many of these partners are established leaders in data centre cooling, power systems and high-performance computing infrastructure, and are active participants in the broader AI infrastructure ecosystem, working closely with leading chipmakers to support next-generation compute environments.

Through its collaboration with Teracule and Terahop, the subsidiaries of Zhongji Innolight, BDC is exploring opportunities to jointly develop next-generation liquid cooling modules and high-performance optical connectivity solutions tailored for AI data centre environments. By combining Innolight’s expertise in optical modules and high-speed interconnect technologies with BDC’s experience in hyperscale data centre design and operations, the partners aim to advance integrated solutions that enhance thermal efficiency, data transmission performance and system reliability for high-density AI workloads.

The collaboration will also explore the establishment of joint research and development initiatives in Singapore, bringing together industry, academia and research institutions to support innovation in AI infrastructure technologies. Through this industry–academia-research collaboration model, the partners aim to accelerate the development and commercialisation of advanced cooling and connectivity technologies while contributing to Singapore’s broader push to strengthen research, talent development and innovation within the digital infrastructure ecosystem.

Together, these alliances focus on the development of advanced liquid cooling architectures, high-density GPU cooling solutions, and energy-optimised HVAC systems designed to support increasingly compute-intensive workloads. These technologies are critical in enabling the efficient operation of AI infrastructure, particularly as rack densities and thermal loads continue to rise in next-generation data centre environments.

Driving regional connectivity

As a Singapore-headquartered digital infrastructure platform, BDC continues to strengthen Singapore’s position as a regional hub for digital infrastructure and AI-driven innovation. With its highly developed connectivity ecosystem, robust regulatory environment and strong international network links, Singapore plays a central role in enabling the growth of the digital economy across Asia Pacific.

In this context, Singapore serves as one of the primary regional hubs, supporting high-value and latency-sensitive digital services such as edge computing deployments, international data traffic management and regional digital service platforms.

To support the burgeoning demand for AI and cloud computing across the region, complementary infrastructure resources across Asia Pacific can help provide additional capacity for compute-intensive workloads, including AI inference, machine learning and large-scale data processing. This cross-border model enables Singapore to remain the connectivity and innovation anchor of the ASEAN digital ecosystem, while regional infrastructure supports the scaling of digital capacity.

BDC’s collaborations with ecosystem partners, including major telecommunications companies and global technology firms, also help expand connectivity networks beyond Asia Pacific, further reinforcing Singapore’s role as a key regional interconnection hub.

One such ecosystem partner is Zenlayer, a leading global edge cloud and connectivity provider with a well-established customer base across Asia Pacific, North America and Europe. Through this partnership, BDC continues to strengthen its regional and international network connectivity anchored in Singapore.

This expanded network reach supports low-latency cross-border digital infrastructure integration, enabling hyperscalers to scale efficiently across markets while leveraging Singapore as one of the core regional gateways for digital services.

Catalysing Singapore’s AI-driven digital growth

Looking ahead, BDC will continue to leverage its operating model as a glocal platform, combining regional scale with deep local execution capabilities to expand across Asia Pacific. The Company’s strategy focuses on connecting key economic corridors, developing high-density, utility-integrated campuses, and working with ecosystem partners to align digital infrastructure growth with evolving energy pathways.

Anchored in Singapore as its strategic regional hub, BDC’s investments and partnerships contribute to the development of a robust digital infrastructure ecosystem that supports AI-driven workloads and cross-border connectivity.

BDC is also adopting an industry–academia–research collaboration mode， bringing together industry partners, universities and research institutes to accelerate innovation in AI infrastructure, advanced cooling technologies and sustainable energy systems. This integrated approach supports the development of new technologies while nurturing local talent and strengthening Singapore’s innovation ecosystem.

BDC’s initiatives in hydrogen, low-carbon power solutions and energy storage further contribute to the growth of Singapore’s green economy, catalysing investment in sustainable energy infrastructure and support the transition towards lower-carbon digital operations.

BDC’s efforts support the creation of high-value jobs and the development of specialised technical expertise in Singapore, spanning engineering, digital infrastructure and advanced energy systems. In addition, BDC will work with universities, research institutes and industry partners to support talent development initiatives, including internships, training programmes and collaborative research opportunities, contributing to the development of a strong local talent pipeline for Singapore’s AI and digital infrastructure ecosystem.

Collectively, these contributions reinforce Singapore’s position as a leading AI and digital infrastructure hub in Asia Pacific, underpinned by resilient, efficient and sustainable infrastructure.
Hashtag: #BridgeDataCentres #Singapore

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Bridge Data Centres

Regulated by both the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC) of Mauritius, KCM Trade remains committed to compliance, operational integrity, and sustainable growth. This latest recognition further reinforces the Group’s accumulated expertise and expanding presence in the global market.

Driven by the Market, Recognised by Industry Authorities

FX Daily Info has long been dedicated to research and evaluation within the global forex industry. Its annual awards are widely respected for their transparency and fairness, carrying significant industry influence.

This year’s selection process engaged forex investors worldwide, with all awards determined through public voting. KCM Trade stood out with a significant lead of over a thousand votes ahead of the runner-up. This accomplishment not only signifies strong industry recognition of KCM Trade’s sustained commitment to technological advancement and continuous optimisation of the trading experience, but also reflects a clear endorsement from the market through an open and transparent voting mechanism. The result further consolidates KCM Trade’s leadership position in the global forex market.

KCM Trade has consistently upheld a client-centric service philosophy. Receiving the “Best Forex Trading Platform” award reflects global clients’ strong recognition of the Group’s trading execution efficiency, system stability, client service standards, and diversified product offering. It also serves as a driving force for the Group’s ongoing refinement and innovation.

A Decade of Excellence, Looking Ahead

As KCM Trade marks its tenth anniversary, this recognition as “Best Forex Trading Platform 2026” carries special significance. Looking ahead, the Group will continue to drive intelligent technological innovation, further enhancing trading experience and service quality, and remains committed to providing global clients with a more efficient, reliable and trusted trading environment.

Hashtag: #KCMTrade #Besttradingplatform #2026 #10years #globalbrokers

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Competitive Landscape and Market Pressures

Singapore’s storage and moving industry was valued at USD 59.48 billion in 2024. It is projected to grow steadily, reaching USD 100.16 billion by 2033. As demand expands, operators face rising expectations from customers who want clearer quotations, faster responses, careful handling of belongings, and fewer disruptions during moves. These expectations are evolving faster than the industry’s traditional operating models.

“Customers today are more informed and expect clarity and coordination throughout the moving process,” said Liang, Sales Manager of Yi Yun Movers. “Meeting these expectations requires tighter planning and consistent execution, especially in a highly competitive environment.”

Operational Focus Over Marketing Claims

Within this environment, Yi Yun Movers has focused on strengthening its core operations, particularly in areas such as safe handling, flexible scheduling, and end-to-end service coordination. The mover in Singapore provides residential and commercial moving services, along with storage, disposal, and after-hours relocations. These reflect a shift toward accommodating varied customer timelines and operational needs.

Technology as Operational Support, Not Replacement

The moving industry in Singapore is believed to have relatively low service differentiation, making internal efficiency a critical factor. To address this, some firms are beginning to explore how digital tools can support daily operations. Rather than replacing existing workflows, technology is being considered for practical functions, such as route planning, scheduling coordination, and administrative efficiency.

For Yi Yun Movers, this has meant examining how planning and coordination can be tightened without disrupting established on-the-ground processes. The company has taken a cautious approach, focusing on whether digital tools can reduce manual work and improve scheduling accuracy. At the same time, it keeps experienced crews and established handling practices at the centre of operations.

“We’re careful not to introduce changes that add complexity on the ground,” as revealed by Jovi, Operations Manager of Yi Yun Movers. “Any use of digital tools is meant to support planning and coordination, not replace the practical experience of our crews.”

GPS Software for Route Planning and Fleet Management

One of the key digital tools Yi Yun Movers has incorporated is GPS software. This technology helps the company optimise route planning and fleet management by:

• Providing real-time traffic data
• Calculating the most efficient routes
• Tracking vehicles throughout the process

This integration not only ensures faster service delivery but also improves customer communication regarding timeframes. With GPS software, the moving teams can focus on executing their tasks on the ground.

SME Readiness and Incremental Technology Adoption

This measured approach aligns with broader national discussions around small and medium enterprise (SME) readiness for technology adoption. While large-scale automation remains out of reach for many operators, incremental use of digital tools to support planning and coordination is increasingly viewed as necessary to remain competitive without compromising service reliability.

Yi Yun Movers’ experience reflects this wider SME reality. Rather than pursuing large-scale system changes, the company has focused on incremental adjustments that support administrative efficiency and coordination, recognising that readiness varies across teams and that operational continuity remains critical in a service-led business.

Adapting to Evolving Customer Expectations

As relocation activity continues alongside Singapore’s dynamic property and business landscape, operators are navigating tighter margins and higher service expectations. For Yi Yun Movers, the focus remains on maintaining service consistency, careful handling of items, and adapting operations to meet changing customer needs in a highly competitive moving industry.

Looking Ahead

Continued growth in Singapore’s moving and storage sector is shaping how operators manage cost, coordination, and service reliability. With customer expectations evolving alongside broader economic and property trends, operational discipline and adaptability are likely to remain central to how moving firms compete.

Yi Yun Movers intends to refine internal processes and maintain service standards while responding to industry changes pragmatically. This reflects a wider shift among local service providers toward strengthening operational foundations, as the moving industry adapts to a more demanding and competitive environment.

In addition to enhancing route planning and fleet management with GPS software, Yi Yun Movers is exploring the use of AI-Assisted Customer Relationship Management (CRM). By integrating AI-driven CRM tools, Yi Yun Movers aims to automate customer interactions, personalise communication, and improve service delivery.

With these forward-thinking approaches, the company is positioning itself to remain competitive in a rapidly evolving market. This enables its teams to effectively address the evolving needs and expectations of Singapore’s moving and storage sector.
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About Yi Yun Movers

Yi Yun Movers is a Singapore-based moving and storage company. It provides residential and commercial relocation services, along with storage, disposal, delivery, and special handling support. The company’s services also extend to providing manpower for packing, unpacking, dismantling, and assembly.

“Effective execution of our strategy drove strong financial performance and higher shareholder returns in 2025, despite a challenging retail environment. Our significant progress made in portfolio simplification creates investment capacity for strategic priorities, enabling greater value for our customers and accretive inorganic opportunities to drive sustainable growth and returns.”

Lincoln Pan

Chairman

DFI RETAIL GROUP HOLDINGS LIMITED

PRELIMINARY ANNOUNCEMENT OF RESULTS

FOR THE YEAR ENDED 31 DECEMBER 2025

INTRODUCTION

It is my honour and privilege to join DFI Retail Group (‘DFI’ or the ‘Group’) as Chairman of the Board, supporting Group Chief Executive, Scott Price, and his leadership team in executing its strategic priorities and delivering shareholder returns. On behalf of the Board, I would also like to express our gratitude to John Witt for his invaluable contributions to DFI over many years.

As Asia’s leading multi-format retail platform, DFI has a unique set of assets – strong customer trust, an extensive store network across markets, deep data insights from a powerful loyalty programme, and a strengthening Own Brand portfolio – that will serve as a foundation for growth over the coming years.

Amid macroeconomic volatility and evolving consumer needs, the Group has been responding effectively through a stronger value proposition and enhanced omnichannel capabilities. This strategy is yielding early and encouraging results, demonstrated by a 35% increase in underlying profit in 2025. We remain particularly optimistic about the growth prospects in Health & Beauty and Convenience, as well as the opportunities emerging in digital.

I am confident that under the capable leadership of Scott and his team, DFI will continue to deliver retail excellence to customers across Asia while driving long-term value creation and growth.

Under a new 70% dividend payout policy announced in December 2025, the Board recommends a final dividend of US¢10.50 per share (2024 final dividend: US¢7.00).

STRATEGIC HIGHLIGHTS

Over the course of 2025, the Group executed effectively against its strategic framework of Customer First, People Led, Shareholder Driven. This approach enables DFI to navigate market challenges while capturing opportunities that build on its strong platform for sustainable growth.

The retail landscape is rapidly evolving, driven by shifting consumer behaviour and digitalisation. The Group remains focused on strategic priorities that place customers first – delivering quality, value and convenience in everyday moments. Across its businesses, the Group made good progress in strengthening value propositions, expanding customer reach in growth markets, driving deeper customer engagement with data-driven insights and accelerating digital monetisation. These initiatives enhance its ability to better serve customers and supplier partners while delivering returns to shareholders.

Investing in talent development remains at the top of the agenda. During the year, the Group achieved an improved team member engagement score. Inclusive leadership, a purpose-driven culture and engaged team members are critical to driving stronger performance and delivering exceptional customer experience. In parallel, the Group continues to enhance its organisational agility in meeting customer needs while reducing overhead costs.

In 2025, the Group completed the divestments of minority stakes in Yonghui and Robinsons Retail, as well as Singapore Food business, enabling reinvestment in subsidiary businesses and strategic priorities with stronger growth and return potential. This approach, combined with a sharpened business focus and a strengthened balance sheet, delivered a total shareholder return exceeding 90% in 2025, including the distribution of a US$600 million special dividend in October.

PROSPECTS

Transformation is an ongoing journey for today’s retailers. Serving diverse communities across Asia, where economic conditions and consumer expectations vary widely, the Group must stay agile and locally relevant guided by a customer-first mindset and a disciplined focus on growth opportunities that further build on its competitive advantages. Over the year, DFI has invested in delivering better outcomes for customers through price reinvestment, Own Brand innovation, omnichannel expansion and data-driven personalisation – focus areas that will remain central to its growth plans in the years ahead. An expanded digital ecosystem also unlocks new avenues to drive deeper value for supplier partners and enhance shareholder returns.

I would like to end by expressing the Board’s appreciation to our team members. We could not be more proud of the work they have done over the year, particularly in responding to the deeply tragic Tai Po fire in Hong Kong. Their unwavering dedication to serving our customers across Asia is what will continue to drive our business forward and build long-term value for shareholders.

Lincoln Pan

Chairman

GROUP CHIEF EXECUTIVE’S REVIEW

INTRODUCTION

We are pleased to close 2025 on a strong note, with underlying profit attributable to shareholders up 35% year-on-year to US$270 million, reaching the high end of our guidance range. This strong performance was driven by a recovery in LFL subsidiary sales, improved margins and proactive portfolio actions, including the divestment of our minority stake in Yonghui.

Customers across Asia, including in our home market of Hong Kong, are increasingly seeking quality and convenience at great value. While macro challenges remain, we are encouraged to see early signs of recovery in key retail segments, including 3% growth in health and beauty sales in Hong Kong, supported by a 12% increase in tourist arrivals. As Asia’s leading multi-format omnichannel retail platform, we are uniquely positioned to meet customers’ evolving needs effectively across all channels through relevant and compelling customer propositions.

With a renewed focus on balancing profitability with capital discipline, the Group ended the year in a net cash position, after distributing a US$600 million special dividend, and delivered a significantly improved return on capital employed (ROCE) of 9.4%. Our strengthened balance sheet allows us to reinvest for growth as we deepen our focus on higher-return subsidiary businesses and strategic priorities that sustain value creation for shareholders. For the full year 2025, we returned a total of approximately US$740 million to shareholders, including the special dividend.

In December, we held our inaugural Investor Day where DFI announced a new dividend policy with an increased payout ratio of 70%. Dividends paid during the year, combined with a share price increase of more than 70%, resulted in a total shareholder return exceeding 90% in 2025. We also outlined our three-year plan for realising our financial ambitions and accelerated growth goals, including a target of US$310-350 million in underlying profit (representing 11% CAGR at the mid-point compared to 2025¹) and an improved ROCE of at least 15% by 2028.

As we enter the new financial year, we remain firmly focused on executing our strategic priorities to drive sustained, profitable growth.

STRATEGIC DELIVERABLES – KEY PROGRESS

Over the past year, we have made significant progress in our transformation from a portfolio business into a strategically focused operating company. We have been advancing our strategy across five key deliverables to create greater value for our customers, supplier partners and shareholders.

Retail Excellence

By delivering best-in-class customer propositions, we see a wide range of opportunities for driving higher store sales density and market share gain across all business segments.

Health & Beauty

Mannings and Guardian continue to strengthen their position as the trusted advisor for wellness, unlocking strong cross-category growth opportunities through an assortment with high functional value across supplements, derma skin care and hair care. Customers across Asia are increasingly shifting to retailers that best fulfil their broad, diverse and unique wellness goals. Our technology-enabled personalised services – including skin, scalp and health assessments – drive higher purchase conversion and basket size by deepening customer understanding of their wellness needs. These capabilities will be expanded to 25% of our Health & Beauty store network to enhance our competitive differentiation and leadership in wellness.

Convenience
7-Eleven is broadening its shopper missions towards higher-margin, non-cigarette categories with a strategic focus on ready-to-eat (RTE) offerings, which accounted for 24% of Convenience sales in 2025. Across markets, consumers are seeking more convenient, high-quality and value-driven meal solutions. The expansion of Food Bars to 1,250 locations in South China and the rollout of RTE-focused store revamp across the entire Hong Kong network by 2028 will further strengthen 7-Eleven’s RTE proposition.

Food

Given consumers’ pivot towards value, continued northbound travel and increasing competition from Chinese mainland e-commerce platforms, the Wellcome team has focused on enhancing food basket value for customers by advancing our Everyday Low Price strategy. Investment in reduced pricing through strategic direct sourcing of core basket items, particularly in fresh, has resulted in a 2% growth in volume driven by higher footfall and increased items per basket. Direct sourcing allowed us to reduce prices while protecting gross profit, resulting in a 30-basis point gross margin improvement. These efforts further supported the narrowing basket price gap compared to the Greater Bay Area to a currently low single-digit price difference².

Home Furnishings

Similar to Food, IKEA has focused on enhancing its affordability and accessibility by reinvesting in the pricing of high-volume products, broadening the range of entry price points, rationalising the tail of slow-selling assortment, and further expanding digital touchpoints through third-party marketplaces. We are also strengthening IKEA Food as a key draw for customers seeking exciting and affordable food experiences as part of their store journey. These efforts are supported by significant cost transformation initiatives across our operating markets.

Own Brand

Our reset in Own Brand strategy across Food and Health & Beauty is driving higher customer loyalty and sales penetration through greater exclusivity and value. By refining our product range to align closely with customer needs and maximising cross-selling across our formats, we achieved meaningful improvements in margins and sales productivity.

Access to Customers

We continue to strategically expand our network in high-growth, profitable markets, primarily through a capex-light franchise model, with 114 net new openings³ in 2025. In particular, we will deepen 7-Eleven’s presence in Guangdong province to around 2,400 stores and expand Guardian’s footprint in Indonesia to approximately 750 stores by 2028.

Omnichannel and Data Ecosystem

DFI’s expanded omnichannel ecosystem is elevating our relevance and engagement with customers, providing us deep data insights across daily consumer needs that few peers in Asia can match. This ecosystem now allows our customers to engage with DFI brands across more than 90 digital channels, including apps, websites, third-party marketplaces, quick-commerce partnership with food delivery platforms and click-and-collect services. Our strengthened digital proposition was underpinned by a 140-basis point increase in online sales penetration to 6.4%⁴ as at year-end 2025, with order volume more than doubled year-on-year. Our overall digital ecosystem, comprising e-commerce, retail media, insights monetisation and yuu, continues to drive improved financial returns for the Group.

Retail Media (DFIQ Media)

Positioned to become Asia’s leading omnichannel retail media network, DFIQ Media offers a differentiated online and offline advertising proposition, enabling brands to execute cross-format campaigns through our digital assets and more than 10,000 in-store digital screens across markets. DFIQ Media delivered strong sales growth, albeit from a low starting base, achieving a fourfold increase in revenue over 2024, supported by proprietary data insights from over 7 million monthly active users across our growing digital portfolio.

DFIQ Portal

We aim to empower our supplier partners with actionable insights that drive greater business impact and better outcomes for customers. The DFIQ Portal – a vendor platform combining DFIQ Media, DFIQ Insights and trade capabilities – was launched in December 2025, providing suppliers real-time access to critical analytics that enables optimised inventory management and more effective strategic planning.

Retail Analytics

Leveraging cross-format data insights from over 5 million yuu Rewards members in Hong Kong, we continue to enhance our assortment and promotional decisions to help expand both in-store sales and gross profit.

Lean & Agile Model

Maintaining a lean and agile operating model is essential to ensuring efficient decision-making in a rapidly evolving retail landscape. Continued cost optimisation and better product sourcing will support both strategic price reinvestment and sustainable margin expansion in the coming years. Overhead reductions are expected to translate into lower SG&A costs beginning 2026. We remain disciplined in capex, driving network growth primarily through a franchise model with a strong focus on paybacks.

Strategic pivot from portfolio to a focused operating company

We conduct strategic reviews of our businesses guided by return on capital and total shareholder return priorities. During the year, we completed the divestment of our minority stakes in Yonghui and Robinsons Retail, as well as our Singapore Food business, generating total gross proceeds of approximately US$1 billion in cash consideration. In line with our capital allocation priorities, these proceeds were redeployed towards debt repayment, resulting in a net cash position of US$70 million as at year-end 2025. In addition, a special dividend of US$600 million was distributed to shareholders in October 2025. The Group remains focused on maximising total shareholder return while maintaining strategic flexibility for inorganic growth opportunities that are accretive to long-term shareholder value.

2025 PERFORMANCE

Total revenue from subsidiaries in 2025 was US$8.9 billion, up 1% on a LFL basis, excluding cigarettes. Organic revenue, excluding divested businesses⁵ for the comparable period, grew 0.5%. Strong sales growth in the Health & Beauty division was offset by lower contributions from other segments.

Excluding the impact of the minority stake divestments in Yonghui and Robinsons Retail completed in 2025, total revenue for the Group, including 100% of associates and joint ventures, remained broadly stable.

The Group reported total underlying profit attributable to shareholders of US$270 million for the year, up 35% year-on-year. This was supported by improved profitability from subsidiary businesses, lower financing costs and higher underlying profit from associates following the divestment of Yonghui.

Underlying profit from subsidiaries was US$183 million, 15% higher than the prior year. This was driven by strong Health & Beauty performance in addition to earnings recovery in Singapore Food and Home Furnishings segment, partially offset by lower contribution from Convenience due to reduced cigarette volume.

The Group’s share of underlying profit from associates was US$88 million, an improvement of US$45 million compared to the prior year, primarily due to the divestment of minority stake in loss-making Yonghui and higher contribution from Maxim’s as a result of improved mooncake sales and restaurant performance in Southeast Asia. Despite challenging trading conditions in Hong Kong and Chinese mainland, Maxim’s delivered profit growth in these regions through cost optimisation.

The Group reported operating cash flow after lease payments of US$430 million, 30% higher than the prior year, supported by underlying operating profit growth. Free cash flow⁶ for the period was US$281 million, up 78% year-on-year. As at 31 December 2025, the Group’s net cash was US$70 million, compared to US$468 million net debt at 31 December 2024.

SUSTAINABILITY

We remain firmly committed to our purpose to sustainably serve Asia for generations with everyday moments – with a focused, balanced, collaborative approach taking into account the macroeconomic environment and consumer sentiment. We are driving progress on our pathway to reduce our Scope 1 and 2 emissions by 50% by 2030 from a 2021 baseline, with our targeted investments in refrigerant emissions management, energy efficiency, and behaviour-change initiatives across our operations gaining momentum throughout the year. From 2025 to 2030, we will further increase the share of renewable energy use in our portfolio, helping to accelerate the energy transition in the key markets where we operate.

As advocates for our customers and the communities we serve, we are committed to delivering affordable, sustainable products. In 2025, we delivered 380 tonnes of Own Brand low-carbon rice to our Hong Kong markets and added multiple products through our Grounds to Green programme to our 7-Eleven RTE range. These award-winning initiatives demonstrate our ability to anticipate customer expectations and deliver on market demands. We maintained strong discipline in waste and packaging management, keeping us on track to meet our 2030 targets.

BUSINESS REVIEW

HEALTH AND BEAUTY

Sales for the Health and Beauty division grew 7% year-on-year or 5% on an LFL basis to US$2.6 billion. Underlying operating profit was US$228 million for the year, representing an increase of 8% compared to 2024.

Both Mannings and Guardian achieved strong LFL sales performance, supported by growing wellness sales penetration towards the mid-term target of over 35%. To further strengthen our leadership in wellness – a cross-category opportunity spanning health, beauty and personal care – Mannings and Guardian complemented their wellness-focused assortment with in-store health, skin and scalp assessments in selected outlets. Our personalised consultations and tailored product recommendations deepen our engagement with customers, supporting larger basket sizes and higher purchase conversion.

Hashtag: #DFIRetailGroup #Mannings #Guardian #7-Eleven #Wellcome #MarketPlace #IKEA #yuu #Maxim’s

The issuer is solely responsible for the content of this announcement.

DFI Retail Group

As part of this partnership, AgileAsia will contribute its deep industry expertise in ESG strategy, sustainability transformation, and organisational change. At the same time, SMU Academy will bring its applied learning framework and established professional training infrastructure. By combining industry-grounded insight with academic rigour, the collaboration will deliver sustainability-focused programmes that equip organisations and working professionals with structured, credible pathways to develop real-world sustainability capabilities.

Delivering Sustainability Education Through SMU Academy
AgileAsia’s industry specialists and the academic leadership of SMU Academy co-develop certified sustainability courses. AgileAsia provides sustainability professionals with hands-on industry experience as trainers, while SMU Academy serves as the academic host and programme platform. This integrated model allows participants to gain applied industry insight within a recognised university-backed learning environment.

The collaboration is structured to help organisations move beyond sustainability intent towards practical execution. Programme content emphasises equipping professionals with practical skills that respond to climate risk, ESG reporting requirements, regulatory awareness, and the operational realities of cross-functional organisational change.

This approach responds to growing demand from organisations seeking structured, SkillsFuture-supported sustainability training that is both implementation-focused and academically grounded.

Responding to Industry and Regulatory Needs
The partnership was shaped by a convergence of industry demand, evolving regulatory expectations, and increasing client need for formal ESG upskilling. Organisations across sectors are navigating sustainability disclosure requirements, decarbonisation targets, and stakeholder scrutiny, while often lacking the internal capability to translate strategy into action.

“SMU Academy was a natural academic partner for us due to its strong emphasis on applied learning, sustainability thought leadership, and close engagement with industry and government stakeholders,” said Sharan Mangalore, CEO of AgileAsia. “Its focus on professional education aligns closely with our delivery philosophy, making this lifelong learning partnership a strong strategic fit for advancing practical sustainability capability-building.”

Programmes Hosted Under the Partnership
The collaboration has launched two certification programmes hosted by SMU Academy: the Sustainability Project Management and the Certified Climate Resilient Officer (CRO) programme. Both of these sustainability management courses are SkillsFuture-supported and aligned with SkillsFuture Singapore (SSG) frameworks.

The Sustainability Project Management course addresses common execution gaps faced by organisations, equipping professionals with structured project governance, stakeholder management, and delivery approaches tailored to ESG initiatives. The CRO programme, on the other hand, focuses on building practical capability in climate risk assessment, resilience planning, and organisational adaptation to climate-related disruption.

Across both programmes, participants engage with applied case studies, practical tools, and methodologies that can be directly contextualised to their organisations.

Audience and Organisational Impact
This partnership builds on AgileAsia’s experience in enterprise transformation and leadership development, translating sustainability principles into structured execution frameworks that address real organisational challenges.

What’s Next for the Partnership
As a long-term collaboration, it reflects a shared commitment to developing future-ready sustainability professionals through applied, university-hosted education pathways.

Organisations and professionals seeking to strengthen sustainability and ESG execution capabilities can explore AgileAsia’s upcoming programmes or browse SMU Academy’s professional course offerings.

Hashtag: #AgileAsia, #sustainability

The issuer is solely responsible for the content of this announcement.

About AgileAsia

AgileAsia is a leading professional training and certification provider headquartered in Singapore. With over a decade of experience, the company has partnered with enterprises, government agencies and education institutions across Asia to deliver transformative learning in Agile, Sustainability (ESG) and Generative AI.

In the Sustainability (ESG) space, AgileAsia is recognised for delivering comprehensive, industry-relevant programmes in collaboration with international ESG bodies. Their courses are facilitated by industry practitioners with decades of hands-on ESG experience across sectors such as maritime, finance, and manufacturing.