Progress Report Regarding Kirin's Operations in Myanmar

President and CEO of Kirin Holdings Company, Limited, Yoshinori Isozaki, reaffirms that respect for human rights is fundamental to all of our business activities and we remain committed to ensuring that our operations are in line with the Kirin Group Human Rights Policy.

We appreciate the challenges of operating in frontier markets and are constantly working to deepen our understanding of the many complexities and improve our systems. We endeavour to ensure that our businesses in frontier markets align with global best practice and corporate governance standards. The commitments set out in our 2018 Human Rights Impact Assessment in Myanmar are an example of this.

Kirin is closely monitoring the current situation and we are reviewing strategic options for our operations in Myanmar.

Kirin has met with the management of Myanmar Economic Holdings Limited (MEHL) to discuss the issues identified in the August 2019 report by the United Nations Independent Fact-Finding Mission in Myanmar on the Economic Interests of the Myanmar Military. We have requested that MEHL provide Kirin with updated details on MEHL’s financial and governance structures.

Kirin has also sought the strategic advice of its International Advisory Board (IAB) on this matter. The IAB is a consultative body to the CEO of Kirin Holdings on the Group’s global growth strategies, risk management and corporate governance.

The Kirin Group takes its responsibilities in Myanmar seriously and will take necessary action to ensure our business activities in the region adhere to the highest standards. A further update on our position will be provided once Kirin has reviewed the information provided by MEHL.