URBAN CO ; Board Approved In-principle approval to explore residential air conditioners as a new line of business under the Native segment

The Board granted in-principle approval to explore residential air conditioners as a new line of business under the Native segment. The Company believes that the residential air conditioners category offers potential as a new line of business under the Native segment. This category represents a large market in which the Company already services millions of units annually, providing it with first-hand insights into the existing product gaps and customer needs. The commercial launch of the business, and any related capital expenditure will be subject to further evaluation and the specific approval of the Board

URBAN COMPANY LIMITED

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