Change - Announcement of Cessation::Cessation of Operations Director of DFZ Capital Sdn Bhd, a subsidiary of the Company

DUTY FREE INTERNATIONAL LIMITED

(Company Registration No. 200102393E)

(Incorporated in the Republic of Singapore)

CESSATION OF OFFICE OF KEY MANAGEMENT

Reference is made to the Company's announcement dated 7 December 2021 in relation to the Acquisition of Remaining Shares in a Subsidiary Company - DFZ Capital Sdn Bhd ("Announcement") and unless otherwise defined, all capitalised terms used in this announcement shall bear the same meaning ascribed to them in the Announcement.

The Board of Directors ("Board") of Duty Free International Limited ("Company") wishes to announce that in conjunction with the execution of the termination deed ("Deed") entered between the Company, DFZ Capital Sdn Bhd ("DFZ") and Heinemann Asia Pacific Pte. Ltd. on 7 December 2021, Mr. Heyde Hendrik Korbinian ("Mr. Hendrik") will cease to be the Operations Director of DFZ with effect from 28 February 2022 and will be placed on garden leave from 7 December 2021 to 28 February 2022.

Steps are being taken in sourcing for a suitable replacement of this position.

The detailed template announcement pursuant to Rule 704(7) of the Listing Rules of the Singapore Exchange Securities Trading Limited, containing the particulars of Mr. Hendrik is being released via the SGXNet.

By Order of the Board

Lee Sze Siang

Executive Director

7 December 2021