Puregold Price Club,

Puregold Price Club, Inc. (“Puregold” or “the Company”) was incorporated on September 8, 1998 and opened its first Puregold hypermarket store in Mandaluyong City in December of the same year. In 2001, it began its expansion by building 2 additional hypermarket stores in Manila and Paranaque. It also launched its loyalty program, which was eventually renamed as “Tindahan ni Aling Puring” in 2004. Between 2002 to 2006, Puregold continued its expansion at an average of 3 new stores every year and established operations in North and South Luzon. In 2008, Puregold was recognized by Reader’s Digest Asia’s as the Most Trusted Brand in supermarket category. To expedite market coverage, a new format called “Puregold Jr. Supermarket” was introduced in the 4th quarter of 2008. By mid-2009, the Company gained market leadership being the second largest hypermarket and supermarket retailer in the Philippines in terms of net sales. By 2010, it was already operating 62 stores, and launched another format called, “Puregold Extra”. In the same year and henceforth, Puregold was recognized by Retail Asia Pacific as one of the top 500 retailers among the 14 economies of the region. 2011 saw the highest number of store openings in Puregold history with the launch of 38 new stores making its number of stores to a total of 100. In the succeeding year, Puregold acquired a related retail company, Kareila Management Corporation, with 6 S&R Membership Shopping Warehouses (patterned after the Costco and Sam’s Club in the USA), opened 31 new Puregold organic stores and acquired Gant Group of Companies known as “Parco supermarkets” with 19 stores. In 2013, Puregold acquired another supermarket chain, Company E Corporation, with 15 stores and opened 40 new stores. S&R opened 2 warehouses located in Davao Province and Mandaluyong City. Company E and Gant Group of Companies later merged with Puregold. In 2014, Puregold opened 28 stores, 1 S&R store and 4 S&R New York Style Pizza/quick service restaurants (QSR). It also partnered with Lawson, Inc. and Lawson Asia Pacific Pte Ltd. under a joint venture company called PG Lawson, Inc. PG Lawson plans to build and operate a chain of Lawson convenient stores all over the Philippines targetting a total of 500 stores by 2020. The parties’ investment share is 70% Puregold and 30% Lawson. In 2015, Puregold opened 15 hypermarkets, 11 supermarkets, 1 S&R Warehouse and 10 QSRs. In 2016, Puregold opened another 15 hypermarkets, 8 supermarkets, 2 extras, 1 minimart, 2 S&R Warehouse and 7 QSRs. By the end of 2016, Puregold was operating a total of 147 hypermarkets, 100 supermarkets, 29 extra, 1 minimart, 12 S&R warehouse clubs, 23 S&R-QSRs, 9 stores under NE Bodega and 8 Budgetlane stores, for a total of 329 stores across the country.