BC Technology : Monthly Investor Update

Dear Investors,

March was another exciting month for the team, withBC Technology Group releasing itsaudited FY2021 annual resultson 29 March,marking three years of rapid growth for the OSL platform, and a 63% year-on-year (YoY) increase in overall OSL revenues to HK$278 million.

OSL remains the Group's best performing business and largest revenue contributor, and comprises 79% of all Group income and revenues, up 9% from the previous year. Driven by

OSL's success, overall Group revenues were up in FY2021 by 44% YoY to HK$352 million, while

Group gross profit increased 54% YoY to HK$303 million.

FY2021 Group financial and operational highlights: OSL growth accelerated YoY

• ● OSL digital asset platform volume increased 73% YoY to HK$306 billion

• ● OSL Prime brokerage revenue increased 58% YoY to HK$254.5 million

• ● Service fees from OSL SaaS increased 104% YoY to HK$10.1 million

• ● Assets on platform increased 44% YoY to HK$4 billion

FY2021 Group business highlights: OSL expanded reach and gained market share

• ● The Group completed two share placements for ~HK$1.24 billion during the year and invested the capital back into the business, enhancing platform efficiency and operational excellence

• ● This enabled OSL Prime Brokerage and Exchange to expand in terms of geographical reach, product/token suite and client portfolio

• ● OSL SaaS also rapidly captured global market share,signing a landmark JV withStandard Chartered's SC ventures to service the UK and Europe,and winning tier-1

  clients wins inLatAm,Mongolia and other markets

The Group's successful results were achieved against significant geopolitical shifts and regional and global macro uncertainty in financial securities markets, and have proven the efficacy of its regulatory compliance-first business model and strategic approach to the digital asset market.

OSL is now a household name and is widely regarded as a leader in regulatory compliance, security and transparency.

Results materials links:

English	Simplified Chinese	Traditional Chinese
●Press release ●Infographic ●Presentation deck ●Investor call replay	●Press release ●Infographic ●Presentation deck ●Investor call replay	●Press release ●Presentation deck

BC Group

39/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong Tel: [phone] | Email:[e-mail]

2022 March Monthly Investor Update Published 2022-04-01

Business updates

Below are OSL volumes for the past three months1

Davin Wu was appointed as Group CFO on 9 March,and this appointment was reported by severalmedia outlets.

On the following day,Wayne Trench published anOSL Insightspiece on US President Joe

Biden's landmark executive order on digital assets:

"OSL welcomes the Biden order as part of the inevitable global regulation of the digital asset ecosystem and the beginning of a new era in digital asset finance. OSL was built with regulatory compliance woven into its DNA, and operating a global, regulated business is the cornerstone of our growth strategy."

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OSL CEO Wayne Trench

Further, OSL executives and BC Group senior leadership continued to appear in well-known media and market events throughout the month:

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OSL Head of Institutional Sales North AmericaJeff Howard published an op-ed inAlternatives Watch entitled,Defrosting 'Crypto Winter 2.0'

●

BC Group Executive Director and Head of Regulatory Affairs Gary Tiu presented to the Hong Kong Securities and Investment Institute onVirtual Assets: Hong Kong's EvolvingVirtual Assets Regulatory Landscape and Impact on Financial Institutions on 11 March

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BC Group CFO Davin Wu was interviewed on 14 March by CorporateTreasurer on his appointment

1Disclaimer: Total platform volume data are an estimated aggregate total of all trading activities on the OSL platform over the stated period. Such data are unaudited, based on various assumptions and methodologies that are subject to change, and may be subject to subsequent adjustments and corrections which we may later publish. Source: Cryptocompare as of 30 March 2022

BC Group

39/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong Tel: [phone] | Email:[e-mail]

2022 March Monthly Investor Update Published 2022-04-01

●

Head of OSL Digital Securities Jean-David Péquignot joined a panel onInstitutionalizingthe Digital Asset market-First-hand insights from VASPs and allocators at the EmergentX Annual Digital Asset Summit 2022 on 23 March

●

On 25 March,OSL Head of Americas Fernando Martinez was interviewed by CoinDesk

TV on the impact of US President Joe Biden's LNG supply announcement (at the 00:17:00 mark)

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BC Group General Counsel Karen So spoke atThe Rise of Cryptocurrency event organized by the HKIAC on 28 March

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On 30 March, BC Group Deputy Chairman Ken Lo and BC Group Head of Market Development Joe Zhou spoke at thePWMA onSFC-HKMA Joint Circular on

Intermediaries' Virtual Asset-related Activities

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Head of OSL Digital Securities Jean-David Péquignot and OSL Head of Sales Ryan Miller shared their views with EquitiesFirst in Crypto Institutional Insights with OSL on 31

March

Digital asset market developments

The Joe Biden executive order on digital assets prompted aflurry of headlines in the month,but it was not the only major regulatory news in March. On 21 March, theAustraliangovernment announced an overhaul of the country's payments infrastructure with heavy

emphasis on digital asset and cryptocurrency regulation. Shortly thereafter,ANZ bankbecame the first bank to Mint an Australian dollar stablecoin, the A$DC.On 23 March,aMalaysian government minister suggested that his country should make Bitcoin legal tender,whileHonduras signaled its intent to do the same.

The Ukraine-Russia conflict and its subsequent impact on commodities and equities markets also dominated the news cycle for all of March and digital assets held their own in many respects, continuing to dispel assumptions and preconceived notions on how they would behave in such a scenario. Cryptowas not used to evade sanctions as was predicted by many, and the market cap and price stability of major tokens held firm,shaking off assertions thatcrypto is a correlated risk asset.

Also of note in the month was one of the sector's biggest-ever security breaches, which occurred whenhackers stole over USD600 million from video game Axie Infinity's Roninnetwork on 29 March.The market, however, shrugged off the event, with bitcoin and ether seeing slight gains of approximately 0.75% and 2% respectively on the same day.

BC Group

39/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong Tel: [phone] | Email:[e-mail]

2022 March Monthly Investor Update Published 2022-04-01

"Traditional" financial institutions, too, have not been deterred from continuing to enter the digital asset space,with Charles Schwab filing for a crypto index ETF on 3 March,GoldmanSachs becoming the first major US bank to trade OTC crypto in a partnership with Galaxy Digital on 21 March, and hedge fund billionaireKen Griffin admitting he'd changed his mindabout crypto and said that Citadel might soon be in the digital asset market.

On 8 MarchBain Capital Ventures announced that it is launching a USD650 million fundfocused exclusively on crypto-related investments, while theHong Kong Stock Exchangerevealed plans in late March that it would launch its "Diamond" project, an ESG-focusedtrading platform to pilot digital assets later in 2022.

With the regulatory progress and mainstream integration of digital assets occurring across the globe, OSL has further solidified its position as one of the most regulated and advanced digital asset firms anywhere in the world.

As always, the team at BC Technology Group and OSL are available to discuss the Group's annual results, March's updates or answer any questions.

Thank you again for your continued support.

Sincerely,

Dave Chapman Executive Director BC Group (863 HK)

BC Group

39/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong Tel: [phone] | Email:[e-mail]

2022 March Monthly Investor Update Published 2022-04-01