EMBRACING CHANGE, Strength

1 EMBRACING change , CHANNELLING. Strength Financial year 2020 saw Amway steadfastly weathering a highly challenging business environment weighed down by the impact of the COVID-19 pandemic and related lockdowns. While our topmost priority was to keep people safe, we also maintained a resolute focus on strengthening our brand and market position, as well as supporting our Amway Business Owners, employees and the communities impacted by the pandemic. At the same time, we continued to make strategic infrastructural investments and leverage innovation to futureproof ourselves. All these efforts, among others, enabled us to turn in a strong top line performance in 2020 and safeguard the overall health and sustainable growth of our business. This year's Annual Report cover with the tagline EMBRACING change .

2 Channelling Strength ' serves to show how we quickly made the transition to new normal' conditions and harnessed the Strength of our people, product portfolio, investments and innovation to not just survive, but thrive in an unprecedented time. WHAT'S 26th Annual INSIDE. GENERAL MEETING. Date : 25 May 2021 | Time : Broadcast Venue : Van Andel & DeVos Training Centre, Amway (Malaysia) Sdn Bhd, 28, Jalan 223, 46100 Petaling Jaya Selangor Darul Ehsan Our Significant Events and Accolades 2020 Awards and Accolades 44. 2020 Event Highlights 45. How We Are Governed Corporate Information 50. Directors' Profiles 51. Key Management Profiles 59. Corporate Governance Overview Statement 60. Audit Committee Report 77. Statement on Risk Management and Our Strategy and.

3 Internal Control 82. Performance Review Compliance with Main Market Listing Full Year and Quarterly Performance 04 Requirements of Bursa Malaysia . 5-Year Financial Highlights 05 Securities Berhad 89. Chairperson's Statement 06. Financial Statements Management Discussion and Analysis 12. Directors' Report 93. Statement by Directors 98. Statutory Declaration 98. Independent Auditors' Report 99. Statements of Comprehensive Income 104. Statements of Financial Position 105. Statements of Changes in Equity 106. Statements of Cash Flows 107. Notes to the Financial Statements 109. Other Information Particulars of Properties 158. Group's Physical Presence 159. Notice of Annual General Meeting 160. Statement Accompanying Notice of the 26th Annual General Meeting 164.

4 Sustainability Statement Analysis of Shareholdings 165. Sustainability Statement 24 Information for Shareholders on . 26th Annual General Meeting 168. Proxy Form . Amway (Malaysia) Holdings Berhad Mission Through the partnering of ABOs, Employees and the Founding Families, and the support of quality products and services, we offer everyone the opportunity to achieve their goals via the Amway Sales & Marketing Plan. Vision Amway's vision is simple: Amway and ABOs work together each and every day to help people live better and healthier lives. We aim to help people everywhere discover their potential and achieve their goals by offering better products and opportunities for the future, and by sharing generously with the global community. 2. Annual Report 2020.

5 Values Amway has six (6) enduring values upon which the business is built. These six (6) Amway Values are a natural development of the Founders' Fundamentals (Freedom, Family, Hope and Reward). These values are the cornerstone to building the Amway business, and to instilling noble values that will help people live better and healthier lives. PARTNERSHIP INTEGRITY. Amway is built on the concept of partnership between our Integrity is doing what is right, not just whatever works . Success in founders. The partnership that exists among the Founding Families, Amway is not measured by economic wealth but by the trust, respect employees, and business owners is our most prized possession. and credibility the business and its ABOs earn. Integrity puts the The excellent entrepreneurial spirit of ABOs and the dedication of concern of others ahead of one's own interest to ensure equity Amway employees have resulted in Amway Malaysia being in the and fairness, the very basic principles for developing lasting top-10 market among the over 100 countries and territories where relationships for building business and making friends.

6 Amway operates. The success is testimony to a truly matured partnership among the ABOs, Management and employees. PERSONAL WORTH PERSONAL RESPONSIBILITY. Amway acknowledges the uniqueness of each individual. Every Each individual is accountable and responsible for achieving person is worthy of respect and deserves an equal opportunity their personal goals. With the principle of helping others to help to succeed to the fullest extent of their potential. Countless ABOs themselves, Amway maximises the potential of the individual have achieved success since they started their Amway business. and shared success. Amway also provides the environment and They have found their place in society where their contributions are opportunity for ABOs to give back to communities in ways that respected, and they in turn seek to help others in need to improve enhance their self-worth and personal responsibility as good citizens.

7 Their personal worth. ACHIEVEMENT FREE ENTERPRISE. Amway is in the business of continuous improvement, progress and Amway advocates freedom and free enterprise. Amway offers equal achievements of individual and group goals. Amway anticipates opportunity to every individual to enjoy the uncommon freedom to changes, responds swiftly with well thought through actions and build a business of their own, while at the same time build their learns from experiences. Creativity and innovation are the pillars integrity and personal worth, and maximise their achievements and that support the achievement of the goals and success of Amway personal responsibility. and its ABOs. 3. Amway (Malaysia) Holdings Berhad Full Year and Quarterly Performance SALES REVENUE PROFIT BEFORE TAX NET PROFIT.

8 RM1, 2020 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Sales Revenue (RM' Million) 1, Profit Before Tax (RM' Million) Net Profit (RM' Million) Net Earnings Per Share (Sen) Net Dividend Per Share (Sen) 2019 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Sales Revenue (RM' Million) Profit Before Tax (RM' Million) Net Profit (RM' Million) Net Earnings Per Share (Sen) Net Dividend Per Share (Sen) 4. Annual Report 2020. 5-Year Financial Highlights Sales Revenue Profit Before Tax (RM' Million) (RM' Million). 1, 1, 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020. Net Profit Net Earnings Per Share (RM' Million) (Sen). 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020. Net Dividend Per Share Core ABO Force (Sen) ( 000). 274. 261. 251 252 254.

9 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020. 5. Amway (Malaysia) Holdings Berhad Chairperson's Statement Dear Valued Shareholders, It is my pleasure to present the Annual Report and audited financial statements of Amway (Malaysia) Holdings Berhad ( Amway or the Company ) for the financial year ended 31 December 2020 ( FY2020 ). I. am especially proud to present this year's report on the performance of Amway and its subsidiaries (collectively known as the Group ) as it reflects the resilience of our people, their ability to innovate, and their dedication to working together as one to overcome a multitude of unique challenges in an unprecedented time. EMBRACING change , CHANNELLING. Strength . Amway began the year under review with cautious optimism.

10 As a company, we were aiming to match the performance of the previous year given the forecast of a tough fiscal year due to overall economic challenges. We kick started the first quarter of FY2020 with the opening of a brand-new shop and several new product launches. In March, the world faced an epic crisis in the wake of the global COVID-19 pandemic, forcing TAN SRI FAIZAH many nations, including Malaysia, to implement BINTI MOHD TAHIR quarantine measures to try and flatten the curve Chairperson and of infection. We quickly switched gears and moved Senior Independent all our activities , product orders, training Non-Executive Director sessions, meetings and other activities online. We also arranged for our staff to work from home in line with the Government's first Movement Control Order ( MCO ) and the related standard operating procedures ( SOPs ) that have now become part and parcel of the new normal.