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                                          WELCOME OFFER
                                          (1) Promotional Period: From April 1, 2024 until further notice. (2) Eligibility: Customers who successfully subscribe to Theory Newsletters during the Promotional Period (“Eligible Customers”). (3) Designated Store in respect of this Promotion: The new Theory Online Store at hk.theory.com, tw.theory.com, sg.theory.com and au.theory.com (collectively “Theory Online Stores”). (4) How to enjoy this Promotion: Eligible Customers can enjoy 15% off on regular-priced products at Theory Online Stores (subject to the Excluded Products as defined below) (the “Discount”) by entering the promotional code at checkout. The promotional code would be sent, via email, to Eligible Customers upon successful newsletter registration. (5) General Terms and Conditions: The Discount only applies to the first order placed by Eligible Customers on Theory Online Stores. The Discount does not apply to the purchase of Theory Project products, Bundles and permanent/core items (the “Excluded Products”). The Discount cannot be used in conjunction with any other discounts, promotional offers and coupons (including but not limited to Theory VIP discounts/Theory VIP Birthday discounts, Credit Card Year-Round Discount and Theory CRM Coupons). The Discount cannot be transferred nor exchanged for cash or any other gifts or coupons. No exchange or return would be provided for products purchased with the Discount under this promotion. Theory reserves the right to amend these Terms and conditions without prior notice. Theory reserves the right of final decision in case of any dispute.

                                          BUNDLE PROMOTION
                                          (1) Promotional Period: The Promotional Period is from 1 July, 2025 until further notice. (2) Designated Store in respect of this Promotion: Theory Online Store at hk.theory.com, tw.theory.com, sg.theory.com and au.theory.com (collectively “Theory Online Stores”). (3) How to enjoy this Promotion: During the Promotional Period, all customers can enjoy an additional discount upon purchasing, as the case maybe, 2 or 3 items of the same style (as may be designated by Theory from time to time) in any size or color (collectively the “Designated Items”) in one single transaction at Theory Online Stores (collectively the “Discount”). The Designated items, and the number of Designated Items required to be purchased to unlock the Discount, will be specifically marked on Theory Online Stores. Customers are required to add the Designated Items into bag to unlock the amount of the Discount. The Discount will automatically apply at checkout. (4) General Terms and Conditions: The Discount cannot be used in conjunction with any other discounts, promotional offers and coupons (including but not limited to Theory VIP discounts/Theory VIP Birthday discounts, Credit Card Year-Round Discount and Theory CRM Coupons). The Discount cannot be transferred nor exchanged for cash or any other gifts or coupons. No exchange or return would be provided for products purchased with the Discount under this promotion. Theory reserves the right to amend these Terms and conditions without prior notice. Theory reserves the right of final decision in case of any dispute.

                                          TRAVEL GWP Offer
                                          (1) Promotional Period: The Promotional Period is from 9 October, 2025 to 31 October, 2025 (both days inclusive). (2) Designated Store in respect of this Promotion: Theory Online Store at tw.theory.com, sg.theory.com and au.theory.com (collectively “Theory Online Stores”). (3) How to enjoy this Promotion: During the Promotional Period, all customers can receive one Theory Limited Edition Travel Kit (the “Gift”) upon purchase of two regular-priced items, including at least one selected travel theme items (“Eligible Product”) at any Theory Online Stores. The Gift will be dispatched together with their ordered items. (4) General Terms and Conditions: The Gift shall be returned unworn or unused (as the case maybe), and in new, clean and original conditions with all tags and packing (if applicable) intact, if customers return the Eligible Product; otherwise, the customers’ right to exchange/refund in respect of that transaction would be restricted. Only the Gift in stock at the store would be available for redemption by the Eligible Customers. No intra-store transfer, or exchange or return of Gifts would be allowed. The Gift would be randomly distributed and cannot be selected by customers. The Gift are available on a “first-come-first-served” basis while stock lasts. This promotional offer cannot be used in conjunction with Theory staff discount and other offers/discounts designated by Theory. The Gift cannot be transferred, nor be exchanged for cash, other products/gifts or coupon. No refund or change, whether in cash or in other form, will be given to Eligible Customers. THEORY (H.K.) LIMITED (“Theory”) is not the manufacturer of the Gift. Accordingly, Theory makes no representation or warranty in respect of the Gift (including but not limited to the quality). Except for liability which cannot be limited or excluded by law, Theory shall not be responsible for any matters arising out of or in relation to the Gift. Theory reserves the right to amend these Terms and conditions without prior notice. Theory reserves the right of final decision in case of any dispute.

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