Dear DFS CIRCLE members, We extend our sincere gratitude for your continued support and trust. We are pleased to announce that CTG Duty-Free’s wholly owned subsidiary, China Duty Free International Limited (cdf) has acquired most of DFS’ Hong Kong and Macau retail stores (pending completion of the transaction). The DFS store in Causeway Bay Hong Kong and seven DFS stores in Macau (Shoppes at Four Seasons, Shoppes at Londoner, Galaxy, Studio City, Wynn Palace, MGM Cotai, and MGM Macau) (together, the Relevant Stores) will be operated by cdf starting from 20 March 2026. As a consequence, all eligible members will be able to transfer their DFS CIRCLE account to the cdf Loyalty Programme as from that date, pursuant to the mechanism set out in this notice, to provide you with a seamless membership experience. Please carefully review the specific arrangements and guidance below. I. Migration Arrangements 1. Scope of Migration: You will only be able to transfer your account to the cdf Loyalty Programme if you hold a DFS CIRCLE account (i) which is registered with a mobile number from the People’s Republic of China (+86), Hong Kong SAR (+852), or Macau SAR (+853), and (ii) been credited with loyalty points at DFS Hong Kong and Macau stores between 20 March 2024 and 19 March 2026 (Eligible Members). If you are an Eligible Member, your DFS CIRCLE account will not be transferred to the cdf Loyalty Programme without your consent. If you are not an Eligible Member your account will remain with DFS CIRCLE and you do not have to take any action. 2. Migration Period: If you are an Eligible Member you may give your consent for the transfer of your account to the cdf Loyalty Programme between 20 March 2026 and 19 March 2028 (the Migration Period). In order to facilitate the transfer of your account into the cdf Loyalty Programme, it will also be necessary to transfer certain critical account details that constitute your personal data to cdf. Further details of the personal data that would be transferred to cdf will be provided in the migration consent page. No personal data will be provided to cdf without your consent, but the account will also not be able to be transferred without that consent. 3. Important Notes: From 20 March 2026, you will no longer be able to earn or redeem any points under the DFS CIRCLE membership at any of the Relevant Stores. 4. Migration Process: If you are an Eligible Member, you should log in to your DFS CIRCLE App or WeChat Mini Programme during the Migration Period, locate the migration portal, and upon entering the page, carefully review the migration details and follow the instructions. Select the migration option, then authorise the migration. You will be guided to the cdf member interface to complete the migration. II. Conversion (for Eligible Members only) 1. Points Transfer: If, as an Eligible Member you consent to your account balance being transferred to the cdf Loyalty Programme, all points in your DFS CIRCLE account will be converted to the cdf Loyalty Programme at a rate of 10 DFS CIRCLE points = 1 cdf point. Points below 10 will be rounded up to the nearest 10. 2. Tier Correspondence: Your DFS CIRCLE membership tier will be converted as follows to an equivalent or higher-value tier within the cdf Loyalty Programme. Your membership in DFS CIRCLE and Your member tier to be converted to cdf Loyalty Programme: Ambassador/Diamond (DFS CIRCLE) -> Diamond (cdf Loyalty Programme) Platinum (DFS CIRCLE) -> Platinum (cdf Loyalty Programme) Gold (DFS CIRCLE) -> Gold (cdf Loyalty Programme) Silver (DFS CIRCLE) -> Basic member (cdf Loyalty Programme) More details on points conversion, tiers mapping, and benefit arrangements will be set out in the migration agreement in consent page which you can access from 20 March 2026. If, as an Eligible Member, you give your consent for your account balance and related personal data to be transferred to the cdf Loyalty Programme: (i) your loyalty points in your DFS CIRCLE account will be reset to zero; and (ii) unless you also agree for your account to be retained by DFS, your account and all related data will be deleted within 30 days from the receipt of your consent to transfer your account balance. III. Post-Migration Actions Required (for Eligible Members only) 1. Account Login: If as an Eligible Member, you have consented to your account being transferred to the cdf Loyalty Programme, you may upon completion of migration, log in to the cdf WeChat Mini Programme or web portal by using the mobile number registered in your DFS CIRCLE account. 2. Information Verification: After logging in, please ensure you verify your personal details, points balance, and membership tier under "My Account". IV. Further Assistance Should you have any queries regarding migration or encounter issues during the process, please contact us via the following channels: 1. Online Support: Access live chat assistance via the DFS CIRCLE WeChat Mini Programme & APP. 2. Customer Service Hotline: Please call our customer service hotline at 853-28336667 (Macau) or 852-23026888 (Hong Kong) (Service hours: Daily 10:00-21:30). Thank you once again for your understanding and support! Yours faithfully, DFS Group 13 Feb 2026