PYI : UPDATE ON VERY SUBSTANTIAL DISPOSAL - RECEIPT OF FINAL PAYMENT FOR DISPOSAL A

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PYI Corporation Limited

(incorporated in Bermuda with limited liability)

(Stock Code: 498)

UPDATE ON VERY SUBSTANTIAL DISPOSAL

RECEIPT OF FINAL PAYMENT FOR DISPOSAL A

References are made to (i) the circular of PYI Corporation Limited (the "Company") dated 15 January 2020 (the "Circular") and the announcement of the Company dated 17 April 2020 in relation to, inter alia, the disposal of 90% equity interest in 嘉興內河國際集裝箱碼頭有限公司 (Jiaxing International Container Feeder Port Limited*); (ii) the announcement of the Company dated 14 July 2020 in relation to completion of the Disposals and receipt of consideration; and (iii) the announcement of the Company dated 22 July 2020 in relation to further receipt of consideration in respect of the Disposals. Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

The Board is pleased to announce that on 13 April 2021, the Group has received the final payment of Consideration A in the sum of approximately RMB55 million in cash, being the aggregate of 15% of Net Consideration A and Adjustment A. As such, taking into account Adjustment A, Net Consideration A amounted to the total sum of approximately RMB360 million and has been received in full by the Group in Hong Kong.

By Order of the Board

PYI Corporation Limited

Ho Sze Nga Maggie

Company Secretary

Hong Kong, 14 April 2021

- 1 -

As at the date of this announcement, the Board comprises the following Directors:

Executive Directors:	Non-Executive Director:	Independent Non-
Mr. Sam Nickolas David	Mr. Kwong Kai Sing,	Executive Directors:
Hing Cheong	Benny	Mr. Ma Ka Ki
(Vice Chairman)	(Chairman)	Mr. William Nicholas Giles
Mr. Lau Tom Ko Yuen		Mr. Leung Chung Ki
(Vice Chairman, China)
Mr. Marc Andreas Tschirner
(Managing Director)
Mr. Au Wai June

• In this announcement, the English name(s) of the PRC entity(ies) marked in asterisks are direct translations of their respective Chinese name(s) and are included herein for identification purpose only. In the event of any inconsistency, the Chinese name(s) shall prevail.

- 2 -