Futu SG (moomoo) to lead iWOW's capital raising, becomes the first digital brokerage to be main placement agent and underwriter for SGX listings

iWOW,maker of Singapore's TraceTogether token,to list on SGX,launches public offer at S$0.25 per share

Singapore-based IoT technology provider,iWOW to raise S$6.5 million in new capital to fund expansion of its portfolio of smart city solutions in upcoming listing on the Catalist Board of the Singapore Exchange Securities Trading Limited (SGX-ST)

iWOW appointed fast-growing fintech firm,Futu SG (moomoo),to be main IPO placement agent,in what is considered the first digital brokerage to be given this role for a company listing on SGX

SINGAPORE,April 7,2022 -- iWOW(SGX:NXR),has today launched a public offer at S$0.25 per share and has selected Futu Singapore (Futu SG) (moomoo) to lead the Initial Public Offering (IPO) bookbuilding and shares issuance in conjunction with iWOW's upcoming listing on the Catalist Board of the Singapore Exchange Securities Trading Limited (SGX-ST). Futu SG is a wholly-owned subsidiary of the Tencent-backed and Nasdaq-listed Futu Holdings.

The subscription of the shares will close on 12 April 2022. iWOW's listing is expected to be on 14 April 2022,and it intends to use the proceeds from the targeted S$6.5 million in new capital to be raised to fund the expansion of its portfolio of smart city solutions. Evolve Capital Advisory Pte Ltd is the Sponsor and Issue Manager for iWOW's IPO.

iWOW Technology Limited is a home-grown Internet of Things (IoT) technology provider,offering innovative smart city solutions as a service for an increasingly urbanised,aging and resource constraint world. iWOW stands for "Inspiring the World of Wireless" and the company's deep expertise in wireless technology has enabled it to bring to market proven smart city solutions that address some of the most pressing problems faced by cities like Singapore.

Megatrends driving iWOW's portfolio of innovative smart city solutions

iWOW's IoT solutions include: TraceTogether Token which is a key part of Singapore's Covid-19 contact tracing capability,Electronic Monitoring Solution which is used by the Singapore Government for electronic supervision of persons-of-interest as part of law enforcement,Alarm Alert Solution that has been deployed in homes of elderly residents enabling them to call for help when in distress; last but not least,iWOW's award-winning Smart Metering Solutionthat not only automates meter reading and billing processes for utility companies,but also helps environmentally-conscious businesses reduce cost by detecting unconscious waste in their water as well as electricity consumption.

"iWOW is more than a technology provider. It is a company that serves a bigger purpose by enabling all of us to live in a smarter,greener,and safer world through purpose-driven innovations," said Mr Gavin Chia,Managing Director,Futu SG (moomoo). "We are honoured to be their working partners as they seek an IPO listing,and as they continue to leverage their capabilities to be a serious game changer in the areas and causes that matter. In this way,we are aligned based on our business vision to be challengers of the status quo in our field,and we look forward to helping them connect with investors."

Both iWOW's IOT solutions and Futu SG (moomoo)'s digital trading business have been experiencing consistent and robust growth,aided by pandemic-related tailwinds that have seen a retail investing boom and overall technology proliferation.

iWOW has seen its revenue increase by more than 12 times over the last three years. This remarkable growth has been driven largely by the company's strategic focus on three megatrends of Rapid Urbanisation,Aging Population and Environmental Sustainability. With increasing digitalization,iWOW is confident that these megatrends will provide ample opportunities for the company to continue to innovate and grow.Similarly,since Futu SG (moomoo) was officially launched in Singapore in March 2021,it has received warm reception from investors. There is high-speed,high-quality expansion of the company's business,with the scale of Singapore average client assets registering an increase of over 25.7 percent in the last quarter alone,according to the company's latest financial results in 4QFY2021.

First digital brokerage to be main placement agent for SGX listing

Futu SG (moomoo) is the first digital brokerage in Singapore to be main placement agent for a company listing on SGX,and is set to lead IPO bookbuilding and shares issuance,a roletypically undertaken by traditional banks before this appointment by the homegrown technology provider. A change in tide is also emerging in capital markets,as companies now have more pathways apart from appointing a banker to tap financing or become publicly-listed.

The selection byiWOWconsideredhow themoomooplatformhas beenable toeffectively engageits large,growing pool of retail investors throughinnovativetechnology,creativemarketingandfinancialeducation.

Singapore users of moomoo are highly engaged on the app,actively attending in-app investment-related courses,live streams of listed companies' events,as well as analysing stocks and trends. They also interact actively with fellow users in the in-app "moo" community,which buzzes with real-time,investment-related conversations daily.

Mr. Gavin Chia,Futu SG (moomoo) added that the first-of-its-kind appointment in the industry is an honour,especially with the fintech firm having been in the in the Singapore market just over a year. "It is a vote of confidence in our business strategy of offering 'high-tech and high-touch' solutions to retail investors and corporate partners alike. We have since worked with major stock exchanges as well as financial institutions and fund houses,and are valued as a strong partner in the financial sector," he said. "With this appointment,our team is committed to lead the marketing of iWOW's IPO,open doors for the company to raise funds by connecting them with our large base of retail investors,help our investor community learn about iWOW's business,as well as coordinate the efforts of other participating agents to achieve the targeted capital."

On top of assisting companies with pre-IPO private placements and IPO public offer,Futu SG (moomoo) provides value-added services such as in areas of planning for marketing communications,formulating targeting strategies,organising roadshows,and also negotiating on pricing with investors on behalf of the issuer.

About iWOW Technology

Established in 1999,iWOW Technology Limited ("iWOW Technology" or the "Company",and together with its subsidiaries,the "Group") is a home-grown technology provider specialising in integrated wireless IoT solutions as a service. The Group is currently focuses on becoming an integrated solutions provider in the IoT industry and aims to promote solutions for sustainable living through technologies that help businesses and nations to optimise resource allocation,provide solutions for the aging population in Singapore to help keep elderly and vulnerable communities safe and independent,provide solutions for smart city / smart nation living to address security and safety issues in countries undergoing rapid urbanisation and provide IoT solutions that are aligned with future megatrends that shape the world.

iWOW Technology currently serves various B2B customers and government agencies in Singapore. Its portfolio of smart city solutions includes the TraceTogether Token that is widely used in Singapore for Covid-19 contact tracing,as well as other wireless IoT solutions and offerings under its main two business segments of Smart City Solutions and IoT-as-a-Service.

iWOW Technology has over 20 years of experience at the forefront of wireless communications technology in Singapore. Through their continued investment in research and development,iWOW Technology has built up technological capabilities in wireless connectivity technologies. Together with its ability to customise and tailor IoT solutions ot the needs of their customers,iWOW Technology has positioned itself as a key technology enabler to its customers.

For more information,please visit https://www.iwow.com.sg/

About Futu Singapore Pte. Ltd.

Futu Singapore Pte. Ltd. (Futu SG) is a wholly-owned subsidiary of Futu Holdings Limited (NASDAQ: FUTU),which is an advanced financial technology company transforming the investing experience by offering a digitised brokerage and wealth management platform. Futu enhances the user experience with market data,news,and powerful analytical tools. Futu also embeds social media tools to provide connectivity to all users,investors,companies,analysts,media and key opinion leaders.

In Singapore,Futu Singapore Pte. Ltd. (www.futusg.com) offers investment products for trading via the moomoo platform,and it is a capital markets services licence holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000).

IMPORTANT NOTICE

This press release and any accompanying materials (if any) ("Press Release")does not constitute or form part of an offer,invitation or solicitation to acquire,purchase or subscribe for securities in Singapore or any other jurisdiction nor should it or any part of it form the basis of,or be relied upon in any connection with,any contract,commitment or investment decision whatsoever. This Press Release is for information purposes only,without regard to the objectives,financial situation or needs of any specific persons. Accordingly,no reliance whatsoever should be placed upon the information set out herein. This Press Release does not purport to be complete and is qualified in its entirety by,and should be read in conjunction with,the full text of the offer document of the Company dated 6 April 2022 (the "Offer Document") that has been registered by the Singapore Exchange Securities Trading Limited ("SGX-ST"),acting as agent on behalf of the Monetary Authority of Singapore,including but not limited to the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" of the Offer Document. Information contained in this Press Release does not constitute a part of the Offer Document.

The information contained in this Press Release should not be relied on as any representation or warranty by the Company. This Press Release may contain forward-looking statements that involve assumptions,risks and uncertainties. Actual future performance,outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks,uncertainties and assumptions. Prospective investors are cautioned not to place undue reliance on these forward-looking statements,which reflect the Company's current views concerning future events. Certain of the information presented in this news release is historical information. The Group's past performance is not indicative of its future performance.