OneConnect Financial Technology Limited, a leading provider of technology services to financial institutions in China, announced today that it will change the proportion of American Depositary Shares (“ADS”) that represent equities. ordinary shares from one ADS representing three ordinary shares to one ADS representing thirty shares of common stock. The rate change will take effect upon the opening of trading on the New York Stock Exchange on December 12, 2022.

For OneConnect ADS owners, changing the ADS ratio will have the same effect as a reverse ADS split from one to ten. There will be no adjustment to the Company’s ordinary shares. Unpaid ADSs on the Effective Date will be exchanged for new ADSs, with all ten existing ADS canceled in exchange for the issuance of one new ADS by the Supervisory Bank as of the Change date. effective rate. . OneConnect’s ADS will continue to trade on the NYSE under the symbol “OCFT”.

No new segmented ADSs were released as part of the change in ADS rates. Instead, a portion of the New ADS Rights will be sold by the Depository Bank and the net proceeds from the partial ADS Rights sale will be distributed by the Depository Bank to the relevant ADS holders, in each case. fit. The custodian bank then takes effect. the procedures and practices in effect and after any deductions set forth in the deposit agreement between the Company and the depository bank of ADS.

After the Rate Change, the price of the ADS will increase accordingly, although the Company cannot guarantee that the price of the ADS after the Rate Change will be equal to or greater than ten times the price of the ADS before the change.