Toys"R"Us Asia (Holding) Limited appoints Leo Tsoi as new CEO

KUALA LUMPUR,Malaysia,March 31,2023 -- The Board of Directors of Toys"R"Us Asia (Holding) Limited,("Toys"R"Us Asia"),the leading retailer of toy and baby products in ten markets across Asia,today announced the appointment of Leo Tsoi to the role of Chief Executive Officer and member of the Board,effective April 1,2023.

Mr. Tsoi brings to the role more than 27 years of consumer retail experience and business leadership in large multi-national brands across Asia. Most recently,Leo served as Chief Executive Officer of Starbucks China where he also served as a member of the Starbucks Global Executive Leadership Team. Prior to that,Leo held a series of senior roles at Starbucks China including President of Retail,COO,CMO and VP of Store Development & Design,where he played a crucial role in the company's growth and transformation. Prior to joining Starbucks,Mr. Tsoi held senior positions in iconic international companies,Pepsico and Procter & Gamble,in Greater China.

"Following an extensive global search,we're thrilled to welcome Leo Tsoi to Toys"R"Us Asia as our new CEO," said Drew M. Nuland,Chairman,Toys"R"Us Asia. "Over the course of his career,Leo has distinguished himself as a bold innovator and inspiring leader who has led rapid growth over a diverse range of product portfolios. He has a proven track record not only in operational efficiency,digital transformation and brand management,but also in engaging customers throughout the region."

"I'm honoured to take on this leadership role with Toys"R"Us Asia,a dynamic and respected retail brand with a strong vision to fuel the imagination of children and inspire their development through play," said Leo Tsoi,incoming Chief Executive Officer of Toys"R"Us Asia. "I look forward to working with the dedicated teams in our markets to serve our communities across Asia through an elevated customer experience and with meaningful innovations to capture the tremendous growth opportunities ahead."

Mr. Tsoi assumes the helm of Toys"R"Us Asia from Interim CEO Pieter Schats,who will remain a member of the Board.

"As Toys"R"Us Asia continues to elevate the customer experience in-store and online and build more personalized relationships with kids and families,we're confident that Leo's proven leadership skills,extensive consumer knowledge and unwavering focus on people will enable our teams to accelerate growth throughout the region," added Mr. Nuland.

About Toys"R"Us Asia (Holding) Limited

For nearly 40 years,Toys"R"Us Asia has been the trusted destination for the best toys,games,sports equipment and learning supplies for kids and toddlers and everything new parents need for their babies.

Headquartered in Hong Kong,Toys"R"Us Asia operates approximately 470 stores across Asia,including mainland China,Japan,Hong Kong,Singapore,Taiwan,Thailand and Brunei – and licenses more than 85 stores in the Philippines and Macau. The company also operates across leading Asian eCommerce platforms as well as its own online stores in each market (www.toysrus.com.my).

Toys"R"Us and Babies"R"Us offer a carefully curated range of quality local and international brands,innovative and exclusive products,engaging loyalty programs and an interactive experience in-store and online that inspire learning at every stage of a child's development. Toys"R"Us Asia – Fueling Imagination

Toys"R"Us Asia (Holding) Limited is an independent legal entity that operates separately from all other Toys"R"Us current or former operating companies around the world.