Reference is made to the announcement of Pacific Century Premium Developments Limited (PCPD) dated June 7, 2021 in relation to the launch of the PCPD Tender Offer. On June 8, 2021, Asian Motion Limited has offered to sell a principal amount of USD 70,000,000 (equivalent to approximately HKD 546,000,000) of the Existing Notes to PCPD (representing Asian Motion's entire interest in the Existing Notes as at the date of this announcement) for cash. The net proceeds from the Tender are estimated to be approximately USD 71,260,000 (equivalent to approximately HKD 555,828,000). PCCW Limited intends to apply such net proceeds towards the settlement of the subscription amount under the Subscription. Principal terms of the PCPD Tender Offer: Outstanding principal amount: USD 700,000,000; Tender offer price: 101.80% of the principal amount of the Existing Notes (Note); and Tender amount: Any and all.