OneConnect Announces Expiration of Exclusivity Period Under Its Memorandum of Understanding to Purchase Majority Stake in Shenzhen VZOOM CREDIT TECHNOLOGY

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Nov 25, 2021

OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”) (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions in China, today announced that the exclusivity period under the Memorandum of Understanding to acquire a majority equity stake in SHENZHEN VZOOM CREDIT TECHNOLOGY Co., Ltd., which was announced on August 25, 2021, expires today. After thorough analysis of overall circumstances and due consideration, the Company has decided not to proceed with the acquisition.