Tesco completes sale of businesses in Asia

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 18 December 2020

Tesco PLC

TESCO COMPLETES SALE OF BUSINESSES IN THAILAND AND MALAYSIA

Following the announcement on 9 December 2020, Tesco is pleased to announce that it has completed the sale of its businesses in Thailand and Malaysia to C.P. Retail Development Company Limited (CPRD), the acquiring entity in which Charoen Pokphand Group, CP All Public Company Limited and Charoen Pokphand Foods Public Limited are invested.

As previously announced, a circular containing further details of the c.£5 billion special dividend and share consolidation, as well as a notice convening a general meeting of shareholders (the "General Meeting") and further details about the resolutions to be considered at the General Meeting, will be sent to shareholders on or around 25 January 2021.

The Company will shortly make a significant pension contribution of £2.5 billion to the Tesco PLC Pension Scheme. The special dividend is expected to be paid on or around 26 February 2021, conditional on obtaining shareholder approval at the general meeting which is expected to be held on or around 11 February 2021.

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Tesco PLC's LEI number is: 2138002P5RNKC5W2JZ46