DFI Retail Group Holdings (D01) Jardine Matheson Investor Day 2026 summary

Recent achievements and strategic reset

• Divested non-core assets, raising nearly US $1 billion and simplifying the portfolio.

• Reset digital and own brand strategies, with cost optimization and overhead reduction underway.

• Deleveraged balance sheet, achieving positive net cash by March 2026 and aligning incentives with shareholder interests.

• Delivered over 40% annualized TSR from Jan 2024 to May 2026 and paid a US $600 million special dividend in Oct 2025.

Strategic vision and future priorities

• Aims to drive organic revenue growth by increasing store sales density and expanding Health & Beauty and Convenience networks.

• Focuses on disciplined capital investment in high-growth, high-return businesses.

• Plans to build an accretive digital ecosystem and leverage a strong balance sheet for ROCE- and TSR-accretive M&A.

Business model and market position

• Operates 7,580 outlets across 12 Asian markets, with a multi-format portfolio spanning Health & Beauty, Food, Convenience, and Home Furnishings.

• Holds #1 or #2 market positions in key segments and geographies, including Hong Kong, Malaysia, Singapore, and Cambodia.

• Generated US $8.9B in revenue in 2025 (US $12.0B including Maxim's), with 22M weekly transactions and 6M loyalty members in Hong Kong.