Partnership will also aim to drive premium category growth with launch of Sulwhasoo regional campaign on Shopee Premium

SINGAPORE - Media OutReach -15 February 2021 - Shopee, the leading e-commerce platformin Southeast Asia and Taiwan, and Amorepacific, Korea's leading beauty company,have signed a Memorandum of Understanding (MOU) to strengthen regionalpartnership and acceleratethe growth of K-beauty in the booming online beauty category in Southeast Asia. This year, Amorepacific will not only be focusing on growing its onlinepresence in Southeast Asia, but have also included Taiwan as a new marketwithin the partnership to boost its reach and share in the wider region.

Mr MichaelYoungsoo Kim, Head of Amorepacific APAC Regional Headquarters and Mr ChrisFeng, Chief Executive Officer, Shopee, signing the MOU at Shopee's RegionalHeadquarters in Singapore

Since launching onShopee Mall in 2018, Amorepacific has recorded more than 13x of growth in GrossMerchandise Value (GMV), and doubled its e-commerce business regionally, in2020. The leading Asian beauty brand aims to take its success further on Shopeewith data-driven strategies, joint marketing efforts and more co-brandedcollaborations. Amorepacific also aims to expand the coverage of its currentportfolio of brands on Shopee tomore markets, in order to meet untapped demand and provide moreassortment to consumers. These brands include Sulwhasoo, Laneige, Mamonde, Ryo, Mise en scene, innisfreeand Etude.

MichaelYoungsoo Kim, Head of Amorepacific APAC Regional Headquarters, said, "As our key e-commerce partner in the region, we are glad that we haveseen strong and successful results with Shopee, and want to take it further bycollaborating on new and innovative initiatives. With Shopee's deepunderstanding of the local market landscape in the region, engaged users, anddata expertise, we believe that Amorepacific and Shopee together, will be ableto better serve the needs of consumers by bringing more of our world-classproducts to them. We also look forward to the first regional campaign ofSulwhasoo on Shopee Premium, which will help to expand our brand presence withthe growing online luxury beauty shoppers."

Chris Feng,Chief Executive Officer at Shopee, said, "As one of the invited brand partners ofShopee's newly launched Regional Champion Brands Programme^[1] , we areconfident of helping Amorepacific capture more growth and opportunitiesregionally with priority access and support on allregional initiatives and resources. This partnership will also enable us to tap on their vast portfolio andindustry expertise to strengthen Shopee's beauty and personal careoffering, giving our shoppers more choices, as well as upgrading the onlineshopping experience. We look forward to working with Amorepacific to achieveeven greater success than before, as they scale their presence and investmenton e-commerce this year forward."

Exclusive regional campaign for Sulwhasoo to drivepremium category growth

With the growth in demand of premium beauty brandsexceeding mass beauty brands on Shopee , Amorepacific willbe launching the first regional campaign for Sulwhasoo on Shopee Premium thisApril, to drive online sales and premium category growth on e-commerce. Thisfollows the exemplary performance of Sulwhasoo's launch in Indonesia, Vietnamand Thailand on Shopee last year.

Sulwhasoo can curate brand content and tap on the differentiated user experience on Shopee Premium to enhance its brand storytelling, and deepen engagement with the growing number of premium and luxury consumer segments. The beauty brand will also explore launching a brand membership programme on Shopee to reward loyal shoppers.

Engage users with personalised and unique content

Amorepacific alsoaims to leverage Shopee's market leadership and deep data insights intoconsumer shopping trends and behaviour, to help pre-launch new exclusiveproducts that serve existing brand lovers and acquire new users. In addition,Amorepacific will also explore introducing its brand ambassadors such aspopular Korean celebrities and artistes, into its Shopee campaigns,strengthening its brand affinity and awareness with consumers across theregion.

Korean beauty andskincare continues to attract a huge following in Asia and beyond^[3]. InShopee's annual mega campaigns from 9.9 to 12.12, Amorepacific brands such asLaneige and innisfree consistently ranked in the top five of the beautycategory. This is driven by consumers' preference toward skincare products madewith unique, natural ingredient formulas^[4] and personalised beauty solutions, as well as the global rise of Korean popculture, particularly throughout Southeast Asia.

About Amorepacific

Since 1945,Amorepacific has had a single, clear mission: to present its unique perceptionof beauty-- namely what it calls 'Asian Beauty' -- to the world. As Korea'sleading beauty company, Amorepacific draws from its deep understanding of bothnature and human to pursue harmony between inner and outer beauty. With itsportfolio of over 20 cosmetics, personal care, and health care brands,Amorepacific is devoted to meeting the various lifestyles and needs of globalconsumers around the world: Asia, North America, Europe, Oceania and the MiddleEast. Amorepacific's research hubs located around the world are dedicated tosustainable R&D that combine the best of natural Asian ingredients andadvanced bio-technology. With its world-class products, Amorepacific isacclaimed for the innovative ways in which it is transforming global beautytrends.

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan.It was launched in 7 markets in 2015 to connect consumers, sellers, andbusinesses in the region.

Shopee offers an easy, secure, and engaging experience that is enjoyedby millions of people daily. It offers a wide product assortment, supported byintegrated payments and logistics, as well as popular entertainment featurestailored for each market. Shopee is also a key contributor to the region'sdigital economy with a firm commitment to helping brands and entrepreneurssucceed in e-commerce.

Shopee is a part of Sea Limited (NYSE:SE), a leading global consumerinternet company. In addition to Shopee, Sea's other core businesses includeits digital entertainment arm, Garena, and digital financial services arm,SeaMoney. Sea's mission is to better the lives of consumers and smallbusinesses with technology.