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<p>L<span>atest share price, financial performance, and other materials relevant to investors.</span></p><p>Read about our <a href="https://assets.contentstack.io/v3/assets/blt5f400315f9e4f0b3/blt5a13f1dd33c615fa/651e7a9aecf48b6d54c38b23/TMG-Investor-Relations-Policy-3Sep2020.pdf?branch=uat_release_3" target="_self">Investor Relations Policy</a></p><p>For Investor Relations matters, please email us at <a href="mailto:ir@thomsonmedical.com">ir@thomsonmedical.com</a><strong ><br bold="[object Object]"/></strong><strong ><br bold="[object Object]"/></strong><strong>Thomson Medical Group Limited</strong><br />101 Thomson Road<br />#20-04/05, United Square<br />Singapore 307591<br />Tel: +65 6331 0188<br />Fax: +65 6331 0180</p>

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<span></span><table><tbody><tr><td><p>Stock symbol</p></td><td><p><span>A50.SI</span></p></td></tr><tr><td><p>Listing</p></td><td><p>Singapore Exchange<br /></p></td></tr><tr><td><p>Financial Year End</p></td><td><p>June 30</p></td></tr><tr><td><span></span><span></span><span>Total issued shares</span> as at 30 June 2025</td><td><p><span></span><span></span><span>26,441,066,807 ordinary shares</span></p></td></tr><tr><td><p><span></span><span></span><span>Market capitalisation as at 30 June 2025</span><sub></sub><span><sub></sub></span><sub></sub></p></td><td><p><span></span><span></span><span>S$1.1 billion</span></p></td></tr></tbody></table>

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Our Commitment

<p style="text-align: justify;">Thomson Medical Group (TMG) is committed to maintaining high standards of corporate governance to ensure long-term sustainability of the Company's business and performance. A framework of controls exists which reflects the Company’s commitment to accountability, transparency, and protection of shareholders interest.</p><p style="text-align: justify;">The Board of Directors has overall responsibility for corporate governance. The Board provides leadership and guidance on matters relating to corporate governance, strategic business directions, risk policy, and the realisation of corporate objectives.</p><p style="text-align: justify;">The full Corporate Governance Report can be found in our <a href="https://www.thomsonmedicalgroup.com/investors#annual-reports" target="_blank">Annual Report.</a></p>

<p style="text-align: justify;">Our Enterprise Risk Management (ERM) framework fosters a culture of proactive risk management, enabling the identification and mitigation of risks and uncertainties to support informed decision-making and achieve business objectives.</p><p>&nbsp;</p><p style="text-align: justify;">Regular reviews by our Board of Directors and Senior Management Leaders ensure its continued relevance amid today’s volatile and complex landscape.</p>

Enterprise Risk Management (ERM)

<p style="text-align: justify;">Our commitment to integrity is reinforced by an anti-bribery and corruption policy that strictly prohibits all forms of bribery, fraud, and unethical conduct across the Group.</p><p>&nbsp;</p><p style="text-align: justify;">This applies to employees, vendors, suppliers, and business partners. Independent audits ensure consistent enforcement and corrective actions where necessary.</p>

Anti-Bribery and Corruption

<p style="text-align: justify;">A unified code of conduct and ethics sets clear expectations for professionalism and regulatory compliance, requiring employees and directors to declare any actual or potential conflicts of interest to maintain transparency and accountability.</p>

Code of Conduct and Ethics

<p style="text-align: justify;">TMG is committed to maintaining the highest standards of integrity and ethics in our interactions with patients, customers, suppliers, and other stakeholders.</p><p>&nbsp;</p><p style="text-align: justify;">Our whistleblowing framework provides an anonymous and confidential channel for reporting suspected misconduct, with submissions reviewed independently under strict confidentiality.</p><p>&nbsp;</p><p style="text-align: justify;">Accessible via the corporate intranet, employee handbook, and website, this framework enables all stakeholders to speak up, reinforcing a culture of trust and ethical responsibility across TMG.</p><p>&nbsp;</p><p style="text-align: justify;">Reporting of suspected or actual fraud, corruption, illegal acts or unethical practices by employees and personnel of Thomson Medical, in good faith, for appropriate investigation and action subject to applicable laws can be done through the following whistleblowing channel:</p><p>&nbsp;</p><p style="text-align: justify;">Email Reporting</p><p target="_blank" style="text-align: justify;"><a href="mailto:whistleblow@thomsonmedical.com" target="_blank">whistleblow@thomsonmedical.com</a></p>

Whistleblowing

<p style="text-align: justify;">TMG enforces a consistent approach to ethical and sustainable procurement. This involves conducting vendor due diligence, carrying out structured tender evaluations, and conducting performance assessments.</p><p>&nbsp;</p><p style="text-align: justify;">These measures ensure transparency, fairness, and quality in supplier selection.</p>

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<p style="text-align: justify;">To safeguard patient data and mitigate cyber threats, we implement a comprehensive cybersecurity and data privacy strategy. Our strategy is anchored by 24/7 monitoring from our security operations centre, privileged access controls, and ongoing awareness training.</p><p>&nbsp;</p><p style="text-align: justify;">This strategy is reinforced by robust incident response protocols and compliance with personal data protection and national healthcare regulations in regions where we operate.</p><p>&nbsp;</p><p style="text-align: justify;">For any questions, feedback or request relating to your <strong>personal data</strong>, you may contact our DPO at <a href="mailto:DPO@thomsonmedical.com" target="_blank">DPO@thomsonmedical.com</a></p>

Cybersecurity and Data Privacy

<p style="text-align: justify;">As part of our commitment to corporate governance, we also maintain a Tax Governance Policy to ensure responsible and transparent tax practices.</p><p>&nbsp;</p><p>For further details, please refer to our <a href="https://assets.contentstack.io/v3/assets/blt5f400315f9e4f0b3/bltcd6fc85be6a3fc33/68809edf26a74d141a257e1e/TMG_-_Tax_Policy_Statement.pdf?branch=production" target="_blank">Tax Policy Statement</a>.</p>

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<p style="text-align: justify;">Our robust corporate governance framework ensures compliance with applicable laws and standards in the markets we operate in, safeguards patient safety, and reinforces stakeholder trust.</p>

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<p>Breast lumps during pregnancy are very common. The expectant mother will experience many normal physiological changes ― an increase in breast size, more obvious sweat glands around the nipples, a darkening of the areola ― all of which will prepare her body for breastfeeding.</p><p>Common non-cancerous variations to breasts include hormonal changes (fibrocystic changes), fibroadenomas, cysts, lipomas, accessory (extra) breast tissue. Pregnancy-related breast cancers make up about 3 per cent of all breast cancers.</p><p>Whenever a pregnant woman feels a lump, she should see a doctor to get their opinion, keeping in mind that most times it will turn out to be nothing serious!</p><h2>What the doctor will do</h2><p>When you see the doctor, she will ask details as to how you detected the lump, how long it has been present and if you have detected any changes, so as to get an idea what the lump is likely to be.</p><p>Next, the doctor will conduct a breast examination to confirm the presence of the lump, and check for any other symptoms such as skin changes or nipple discharge.</p><p>Most patients will then be recommended to get an ultrasound scan ― this will give additional information as to whether this lump is benign or cancerous. If there is any concern that the lump may be cancerous, your doctor will advise you as to the pros and cons of having a biopsy, which can be done safely even during pregnancy.</p><p><em>“If a pregnant women detects a lump, I would advise them to have a thorough consultation and a physical examination, followed by an ultrasound. If necessary, I would then perform a biopsy.”</em></p><h2>Breast cancer screening during pregnancy</h2><p>A screening checks for cancer even when a patient is feeling well and has absolutely no cancer signs or symptoms. For breast cancer screening, most countries, including Singapore, recommend mammogram screening from age 50 onwards. For women who are at higher risk, this may start at 40. Some specialists will recommend a supplementary ultrasound as well.</p><p>If a pregnant women detects a lump, I would advise them to have a thorough consultation and a physical examination, followed by an ultrasound. If necessary, I would then perform a biopsy.</p><h2>Screening methods (Mammograms/Ultrasound)</h2><p>Ultrasound, the same technology used to monitor the baby during pregnancy, is safe and useful in detecting lumps, and to check if it’s solid or cystic. Most specialists do not use ultrasound as a screening method as the majority of such lumps it detects are not cancerous.</p><p>A diagnostic ultrasound can still be performed safely on pregnant women to assess their breast lump. If a subsequent biopsy confirms a cancer, she may then need a baseline mammogram, after discussing the pros and cons with her doctor. This is because early stage breast cancer may not form a lump yet, but may attract calcium spots, which can be detected using a mammogram. An abdominal lead apron may be used to reduce the baby’s exposure to radiation.</p><h2>Breast cancer treatment</h2><p>If the biopsy shows that the lump is non-cancerous (benign), then it may be left alone.</p><p>However, if the biopsy shows that it is cancerous, the breast cancer treatment protocols will be modified for the expectant woman. Staging* has to be conducted to find out if the cancer has spread to other parts of the body, but only with liver ultrasound and chest X-ray. Depending on which trimester of the pregnancy she is in, the breast surgeon, oncologist and the ob-gyn will discuss what is best for the patient and her baby.</p><p>Chemotherapy may be administered from the second trimester onwards, followed by surgery after she deliver the baby. As such management of the patient’s treatment is complex, it will involve good multidisciplinary care by experienced doctors.</p><p>*Staging is a way to describe where the cancer is located, how much the cancer has grown, and if or where it has spread.</p>

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Although common breast changes are normal in pregnancy, finding a lump can be worrying. Learn what are the recommended next steps, and when you should worry.

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Breast Lumps During Pregnancy: What to Expect and Do

<p>“It all started with a persistent pain in the left breast, and I was referred by my General Practitioner for a mammogram and ultrasound. Both the mammogram and ultrasound results showed an abnormal lump, and I was further scheduled for a breast biopsy to determine if the lump was benign or malignant. Questions started to fill my mind. What is breast biopsy and how is it performed? And is it painful?”</p><p>For many patients, pain is a very common symptom and is the most common complaint that brings them to see a doctor. For a small group, there happens to be an abnormal lump found that needs a biopsy. Most times, pain is not a sign of cancer, and any lumps found may not be the cause of the breast pain you experienced.</p><p>Some of us may face a similar situation when a lump is detected. It is normal to have many questions. This article aims to address some of your preliminary questions while you arrange for a consult with a professional specialist. It is important to seek timely professional diagnosis and treatment.</p><p>Here’s what you need to know about a breast biopsy and what to expect.</p><h2>What is a breast biopsy?</h2><p>A breast biopsy is a process where a small sample of breast tissue is removed through a special biopsy needle. The tissue samples removed from the breast lump will be further examined under a microscope. Typically, the breast biopsy is performed if there is an abnormality detected from your previous mammograms or breast ultrasounds. The goal of the biopsy is to determine what the abnormality is and the best treatment to move forward with.</p><p>Although ultrasounds and mammograms are useful ways to identify breast lumps, a breast biopsy is the only way to confirm what the lump is. Breast screening is to be done, even if you are well and have no symptoms at all, and annual mammograms should start from age 40.</p><p>If you experience any symptoms, please see a doctor for early diagnostic imaging tests:</p><ul><li>Breast lump</li><li>Changes in the colour or contour of the breast or nipple or dimpling of skin</li><li>Discharge from the nipple</li></ul><p>Most breast biopsies are quick and painless. Many of the breast lumps may turn out to be benign as there are a variety of conditions that can cause lumps in the breast. However, your doctor will usually want to take precautions and order breast screening tests to rule out early <a href="https://www.thomsonmedical.com/blog/breast-cancer" target="_blank">breast cancer</a>.</p><h2>How to prepare for a breast biopsy?</h2><p>Before your breast biopsy, you can prepare by informing your breast surgeon if you:</p><ul><li>Have any allergies</li><li>Are taking any blood-thinning medications</li><li>Have consumed aspirin in the last seven days</li><li>Not able to lie face down for more than an hour</li></ul><p>You will likely meet with your specialist prior to the procedure. Your doctor would be able to advise you on the procedure and give you advice such as:</p><ul><li>What type of breast biopsy procedure will be done?</li><li>What is the location of my biopsy?</li><li>Will a part or all of the lump be extracted?</li><li>Will it leave a scar?</li><li>How soon will I receive my results?</li><li>How soon can I resume normal activities?</li><li>What type of anaesthesia will be used?</li></ul><p>Make sure to wear a sports bra and loose clothing to have ease in dressing after the procedure. You may also want to have a designated driver or someone to accompany you home safely.</p><h2>What are the different types of breast biopsies and how are they performed?</h2><p>Once your breast surgeon decides that a biopsy is needed, they will determine the best type of biopsy for your situation. There are a few breast biopsy procedures to obtain samples of a patient’s breast lumps. Your breast surgeon will recommend based on the location, size, and other characteristics of the breast abnormality.</p><p>Your breast surgeon will take a tissue sample either through a minimally invasive biopsy procedure or surgery. Minimally invasive procedures are ideal because they offer:</p><ul><li>Less pain</li><li>Less scarring</li><li>Faster recovery time</li><li>Lower risk of infection</li><li>Lower hospital costs</li><li>Able to return to usual activities quickly</li></ul><h3>Ultrasound-guided breast biopsy</h3><p>This procedure is performed through ultrasound guidance. An ultrasound is a method that utilises high-frequency sound waves to generate precise images.</p><p>The breast surgeon will locate the lump within the patient’s breasts using the breast ultrasound device before a small incision is made for the biopsy needle to retrieve tissue samples. With an ultrasound-guided breast biopsy, the breast surgeon can identify <a href="https://www.radiologyinfo.org/en/info/breastbius" target="_self">lumps near the chest wall or under the arms</a>.</p><p>It can be used in conjunction with vacuum-assisted core biopsy, core needle biopsy, or fine needle aspiration biopsy. This ultrasound-guided breast biopsy procedure is also more cost-effective than other methods like open surgical biopsy.</p><h3>Stereotactic biopsy</h3><p></p><img src="https://images.contentstack.io/v3/assets/blt5f400315f9e4f0b3/bltdc27a561fa0c5072/6545217008cc0104077ce311/Stereotactic_Biopsy.jpeg?branch=uat_release_3" height="auto"/><p>With a stereotactic biopsy, a 3D image of the breast is created from the mammogram results. The doctor uses the image to pinpoint the exact location of the suspected breast lump and guides the needle there. The patient will lay <a href="https://www.healthline.com/health/breast-biopsy-stereotactic#procedure" target="_self">facing down on a padded biopsy table</a> with one of the breasts positioned in the hole in the table. The patient’s breast will be compressed with two plates while the biopsy site is located using a targeted mammogram. The breast surgeon or radiologist will then create a small incision into the biopsy site and insert a large core needle to remove tissue samples.</p><h3>RI-guided core needle biopsy</h3><p>Instead of using an ultrasound device, a biopsy can be performed under the guidance of an MRI. This imaging device captures cross-sectional images of the breast so that the hollow needle can be guided to the site of the breast lump. This procedure can be used with core needle biopsy, vacuum-assisted core biopsy, or wire localisation.</p><p>he different types of breast biopsy vary in terms of how invasive the procedure it can be. Your breast surgeon will advise on the procedure that is the best for you.</p><h3>Open (surgical) biopsy</h3><img src="https://images.contentstack.io/v3/assets/blt5f400315f9e4f0b3/blt4155c1fcecc004d3/654521990970dd001bd16e10/Open_(Surgical)_Biopsy.png?branch=uat_release_3" height="auto"/><p>The breast surgeon will remove part or the entire lump. If the lump is small and deep, a very thin needle and a thin wire will be placed inside the breast before the operation to help guide the breast surgeon.</p><p>Generally, a surgical biopsy is performed in an operating room usually under general <a href="https://en.wikipedia.org/wiki/Anesthesia" target="_blank">anaesthesia</a>.</p><h3>Fine needle aspiration (FNA) cytology</h3><p>In this procedure, a thin needle attached to a syringe is inserted into the breast lumps. The syringe will collect the sample of fluid or cells from the lump and small tissue samples are removed. Your doctor will advise if this is suitable for you.</p><h3>Sentinel node biopsy</h3><p>This procedure removes the <a href="https://www.cancer.gov/about-cancer/diagnosis-staging/staging/sentinel-node-biopsy-fact-sheet" target="_self">sentinel lymph node</a> or the first node to which cancer cells are most likely to spread. The surgeon uses blue dye or a radioactive tracer to identify the node. Then, the node is removed and tested for cancer. Cancer could have spread to other lymph nodes if the sentinel node tests positive. However, if it is negative, the likelihood of cancer spreading to other lymph nodes is lower.</p><h3>Vacuum-assisted core biopsy</h3><p>This procedure is performed with an ultrasound or mammogram unit and can be seen as an upgraded form of the core needle biopsy. Like the core biopsy, a larger needle is used and allows for several tissue samples to be taken at one time.</p><p>A probe or hollow tube is inserted into a cut made on the skin. Then, a vacuum-assisted device is used to pull the tissue into the needle while a rotating cutting device takes the sample. Using a suction device is beneficial because it can get more cells and fluid through the needle, which cuts down on the number of times the needle will need to be inserted to retrieve multiple samples.</p><h2>Benefits and risks of breast biopsy</h2><p>Before proceeding with breast biopsy procedures, you may want to discuss with the breast surgeon and weigh the benefits and risks to determine the suitable procedure that is right for you. Fortunately, most procedures are less invasive compared to surgical biopsy and some will leave minimal to no scarring. The biopsy results will indicate whether the breast lump is malignant or benign which would either allow you to rest easy or quickly get the treatment that you need.</p><p>Although these procedures are generally safe, there are some risks involved. Possible complications that can incur from a breast biopsy include:</p><ul><li>Mild pain and bruising</li><li>Infection</li><li>Prolonged bleeding</li><li>Soreness at the biopsy site</li></ul><p>Many of these side effects are simply temporary. However, if they persist, contact your <a href="https://www.thomsonmedical.com/find-a-doctor/breast-surgeon-singapore" target="_blank">breast surgeon</a> for treatment. Generally, following the aftercare instructions will greatly reduce these risks and limit the odds of infection.</p><h2>FAQ</h2><h3>Why is a breast biopsy done?</h3><p>A breast biopsy can be done for several reasons:</p><ul><li>To identify any lumps in your breast</li><li>To check for the potential causes of any nipple problems such as bloody discharge</li><li>To evaluate whether the breast lump or breast mass is cancerous or non-cancerous.</li><li>To check the severity of a problem seen from the breast imaging results, such as a fluid-filled cyst or calcium deposits in breast tissue (microcalcifications)</li></ul><h3>How often are breast biopsies positive for cancer?</h3><p>&gt; 80% of the patients who undergo the biopsy procedure do not have cancer, while only &lt; 20% of breast biopsies are malignant. When the results are negative, the breast lump is benign.</p><h3>Does a breast biopsy hurt?</h3><p>The breast surgeon may use local anaesthesia to help numb the biopsy area during the procedure. It may be slightly uncomfortable, but most patients describe it as tolerable. Once the site is numb from the local anaesthetic, one should only feel pressure but no pain from the biopsy.</p><p>Typically, only local anaesthesia is required. However, general anaesthesia may be used in severe cases, meaning the entire body is numbed.</p><h3>How long does it take to recover from breast biopsy?</h3><p>Biopsy procedures do not cause significant pain to your body. However, you may experience some bruising, tenderness, or soreness for a few days after the biopsy procedure. Patients can take non-aspirin pain relievers that contain acetaminophen and apply cold packs to help ease the pain and discomfort. However, it can take longer to recover from surgical removal procedures when compared to nonsurgical procedures.</p><p>With all breast biopsy procedures, except for the surgical biopsy, you will be able to go home without a patient caregiver. You will likely have bandages and a cold pack over the biopsy site. Most patients can resume usual activities within a day after the procedure.</p><p>Tell your breast surgeon if you notice the following problems after the biopsy:</p><ul><li>Pain that gets worse</li><li>Chills or fever</li><li>Swelling, redness, drainage, or bleeding</li></ul><h3>How soon should you expect to receive your breast biopsy results?</h3><img src="https://images.contentstack.io/v3/assets/blt5f400315f9e4f0b3/blt3ce74f2f0f705f43/654521d254447604077cfdc6/Breast_Biopsy.jpeg?branch=uat_release_3" height="auto"/><p>Once the procedure is done, the breast tissue samples are sent to the lab. A pathologist will evaluate the samples using specialised tools and then create a report to send to the breast surgeon, who will share the results with you.</p><p>Generally, it takes a few days before the results are ready. However, it can take as long as two weeks before the test results are available if the lab needs more time to process your specimen.</p><p>Sometimes a clear diagnosis is not possible based on the sample given. In this scenario, you may need another biopsy performed so that the breast surgeon can obtain more breast tissue for further evaluation.</p><p>The results will share details about the consistency and size of the breast tissue samples, the location of the biopsy site, and whether there are cancer cells present. If it is malignant, the report will detail the type of breast cancer you have. Based on the findings, your breast surgeon will advise on the next steps for treatment.</p><h2>Book Your Appointment at Thomson Breast Centre</h2><p>Prevention is always better than cure! Our clinical team at <a href="https://www.thomsonmedical.com/breast" target="_blank">Thomson Breast Centre</a> offers different services for all <a href="https://www.thomsonmedical.com/blog/breast-screening-mammogram-ultrasound" target="_blank">breast screening</a> needs with the assurance that you will be well taken care of. It is important to detect signs of breast cancer early. The sooner it is detected, the faster the treatment can start. At Thomson Medical, our doctors will evaluate the lump and provide the appropriate tests for diagnosis.</p><p>Most patients start with a specialist consultation for a personalised clinical breast assessment. We offer a wide range of biopsy procedures, from minimally invasive removal to more advanced surgical options if a biopsy is needed. Book a specialist consultation with Thomson Breast Centre and start your breast health journey today.</p>

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Worried about a breast lump? Don't panic. A breast biopsy is a simple procedure that can help determine if the lump is benign or malignant. Learn more about the process and what to expect from this article.

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Everything You Need to Know About Breast Biopsy

<p>Just as there are skin issues that arise during pregnancy, skin conditions can also develop after you give birth. Fortunately, they are largely treatable, so there is no need to fret – your postpartum skin and hair will bounce back in no time. We take a look at some of the most common conditions.</p><h2>Acne</h2><p>Caused by an inflammation in the facial oil glands, acne may be aggravated by hormonal changes. Most of the time, acne clears within a few weeks or months, but medical treatment should be sought to prevent the risk of scarring. There are many topical agents that can be safely used even when breastfeeding. In more severe cases, oral medications such as antibiotics may be required.</p><h2>Melasma</h2><p>Also known as “the mask of pregnancy”, this pigmentation condition is due to increased melanin production and is caused by a combination of genetic and hormonal factors, as well as sun exposure. It tends to affect Asian skin more, appearing as brownish patches over the cheeks, forehead, temples, nasal bridge, upper lips and jawline.</p><p>It is best controlled by avoiding the sun and with regular use of sunscreen, lightening creams and topical agents, although it can persist in some cases. Other treatments include chemical peeling, intense pulsed light therapy and certain forms of laser therapy. Inform your doctor if you are breastfeeding – certain ingredients such as tretinoin and hydroquinone that can be found in some skincare products should be avoided by breastfeeding mums.</p><h2>Dermatitis/eczema</h2><p>Eczema or dermatitis is a relatively common yet noninfectious condition, so it will not spread to your baby. Often it is an aggravation of an underlying sensitive skin condition that has been present for some time. For new mothers, it can also develop as a result of excessive water contact due to frequent handwashing.</p><p>Use moisturiser regularly to soothe inflamed and itchy skin. Topical steroid creams are prescribed to calm inflamed skin and are safe to use even when breastfeeding. Use a gentle soap substitute and continue to moisturise even after the skin rash has settled.</p><h2>Stretchmarks</h2><p>Affecting at least 90 percent of pregnant women, stretchmarks are a form of scarring that appear red when fresh, but most will fade to white after delivery. During pregnancy, intensive use of moisturisers may help the condition, and there are specially formulated stretchmark creams on the market that you can continue using after delivery. For more severe cases, dermatologists may prescribe tretinoin cream to use postpartum when you are not breastfeeding. Some skin-tightening laser treatments are safe options to remove stretchmarks even if you are breastfeeding, but these usually require multiple sessions.</p><h2>Telogen effluvium</h2><p>This condition results in hair fall that usually occurs about three months after delivery. Though increased hair fall can be distressing to new mothers, it is almost always a self-limiting condition, and you will usually recover within six months. If you notice increased hair fall, consult a doctor to exclude other causes of hair loss (such as low iron levels). Topical medications can be used if you are not breastfeeding.</p>

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Postpartum skin problems like acne, melasma, and stretch marks are common but temporary. Learn how to relieve and prevent the 5 most frequent postpartum skin woes.

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The 5 Most Common Postpartum Skin Issues and How to Treat Them