Toys"R"Us Asia Announces Departure of CEO, Andre Javes; Pieter Schats Appointed as Interim Executive Chairman

HONG KONG,Aug. 3,2022 -- Toys"R"Us (Asia) Limited today announced that Chief Executive Officer,Andre Javes,will be leaving the company to pursue other interests,effective August 24,2022. Pieter Schats,current Chairman of Toys"R"Us Asia's board of directors and previously the company's CEO from 2002 to 2014,will serve as Interim Executive Chairman until a permanent Group Chief Executive Officer is appointed.

Mr. Javes joined Toys"R"Us Australia in 2013 as Managing Director,overseeing all operations and business activities in the country prior to relocating to Hong Kong,where in 2016 he was promoted to President of Toys"R"Us Asia Pacific. Under Andre's leadership the brand has grown in Asian markets and across eCommerce sales channels,innovated into new product lines and successfully navigated the business through the recent global challenges.

"Toys"R"Us has established itself as the trusted retailer of toy and baby products across Asia," said Mr. Schats. "We appreciate and thank Andre for the unique contribution he has made to evolve Toys"R"Us and Babies"R"Us during his years at the helm. He is departing having strengthened business efficiency and established an executive team well-positioned to drive our growth into the future. During this transition period,I look forward to once again working closely with the Toys"R"Us Asia leadership team,our office-based staff and store managers and associates to continue enhancing our offering to our customers."

"It's been a privilege leading the Toys"R"Us Asia business,building our Toys"R"Us and Babies"R"Us brands across the region," said Mr. Javes. "As I depart,I have complete confidence that Toys"R"Us and Babies"R"Us will continue to grow under new guidance and with the support of this incredible team of people in our Asia markets."

Pieter Schats is currently a Consultant to Fung Retailing Limited Ltd Group and has more than 30 years of leadership experience in Asia across retail,apparel & hardgoods product sourcing & distribution,import/export,food distribution,media & sporting industries. Previously,Mr. Schats was the Executive Director of Fung Retailing Limited,responsible for managing and developing the Group's portfolio of children's retail businesses across Asia,including Toys"R"Us.

About Toys"R"Us (Asia) Limited

For nearly 40 years,Toys"R"Us has been the trusted partner to families as the leading destination for the best toys,games,sports equipment and learning products for children,along with everything new parents need to care for and support their babies.

Headquartered in Hong Kong,the company operates over 470 stores with more than 10,000 team members across Asia,including Brunei,Mainland China,Hong Kong,Japan,Malaysia,Singapore,Taiwan and Thailand – and licenses more than 85 stores in the Philippines and Macau. Toys"R"Us and Babies"R"Us offer a carefully selected range of quality local and international brands,innovative and exclusive products,engaging loyalty programs,convenient online shopping and an interactive in-store experience that fuels a child's imagination and inspires learning at every stage of a child's development.