PCGI (FWD) Announces Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering

HONG KONG,June 17,2021 --PCGI Intermediate Holdings Limited,the holding company of FWD Limited and FWD Group Limited,today announced that it has confidentially submitted a draft registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering of American Depositary Shares ("ADSs") representing its Class A ordinary shares in the United States (the "IPO"). The number of ADSs to be offered and the price range for the IPO have not yet been determined. The IPO is expected to take place after the SEC completes its review process,subject to market and other conditions.

This press release is being made pursuant to,and in accordance with,Rule 135 under the Securities Act of 1933,as amended (the "Securities Act"),and shall not constitute an offer to sell,or the solicitation of an offer to buy,any securities. Any offers,solicitations or offers to buy,or any sales of securities will be made in accordance with the registration requirements of the Securities Act.

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