Oi Wah and PACM Group entered into MOU

According to the MOU, one of the potential cooperation models between both parties is to jointly establish a limited partnership fund with Oi Wah acting as the cornerstone investor by providing initial capital for the fund; and a company to be jointly established by both parties to act as the general partner of the fund, the specific content of the cooperation model will be set out in a formal agreement to be entered into between both parties.

Mr. Edward Chan, Chairman and CEO of Oi Wah, said, "The Group is optimistic about the long term prospects of the mortgage business industry. We believe that the MOU provides a good opportunity for both parties to benefit from better allocation of resources, while helping the Group to develop its business in overseas markets, broaden its income sources and customer base. In addition, the long-term cooperative relationship between the parties will help the Group consolidate our position in the industry."

Mr. Francis Ng, Managing Director and Chief Investment Officer of PACM Group, said, "We are privileged to be able to work with such an experienced subject matter expert spanning over 48 years of the lending sector in Hong Kong. Oi Wah has been a trusted partner of PACM Group since our establishment in 2018, and is only natural for the two companies to further the relationship with the development of a jointly established fund. This long-term strategic partnership with the lending specialist, Oi Wah, is an opportunity to lay a solid foundation for future growth through shared confidence and resources in the developed regional private credit business market.

Oi Wah will be an anchor investor for our upcoming Limited Partnership Fund, which will be the second fund launched by PACM Group. I believe the synergy between PACM Group and Oi Wah will successfully capture the window of rebounding market activities and respond quickly to the increasing demand for direct lending both at home and abroad, thus seizing the opportunity to expand our business and market share. PACM Group has always placed risk management for its investments as top priority in the first place. We are confident that, with our successful investment track record, we will continue to deliver strong returns to our investors on a risk-adjusted basis."

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The issuer is solely responsible for the content of this announcement.

Oi Wah Pawnshop Credit Holdings Limited

Oi Wah is a financing service provider in Hong Kong, mainly providing short-term secured financing, including pawn loans and mortgage loans. The Group established its first pawnshop in 1975 and currently owns 10 pawnshops in various locations in Hong Kong. Oi Wah diversified into mortgage loan business in 2009. The Group is the first local pawn shop which successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 12 March 2013.

PACM Group (Holdings) Limited

PACM Group (Holdings) Limited ("PACM Group") is a real estate private credit investment management firm based in Hong Kong specializing in distressed investments / special situations in developed markets with projects in Hong Kong, Australia, the UK, and Canada. Pacific Aegis Capital Management (IM) Limited is a HKSFC regulated entity with a Type 9 Asset Management license.