PCCW : Disclosure of Dealings under Rule 22 of the Takeovers Code

Public Disclosure Form

23 September 2020

Partial offer

Disclosure of dealings in the shares of PCCW Limited

The Executive received the following disclosure of securities dealings pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers:

Party	Date	Purchase / Sale	Number of shares	Price per share	Resultant balance	Percentage of class
					(including those of	(including those of
					any person with whom	any person with whom
					there is an agreement	there is an agreement
					or understanding)	or understanding)
BlackRock, Inc.	22 September	Purchase	65,000	$4.7939	449,252,533	5.8121%
	2020
	Purchase	58,000	$4.7900	449,310,533	5.8128%
		Purchase	2,072,000	$4.7939	451,382,533	5.8396%
		Purchase	2,000	$4.7939	451,384,533	5.8397%
		Sale	207,000	$4.7838	451,177,533	5.8370%

End

Note:

BlackRock, Inc. is a Class (6) associate of the Offeree company by virtue of its holdings of ordinary shares in the Offeree company.

Public Disclosure Form

Dealings were made for the account of discretionary investment clients.

Items 1 to 5 reported in the Resultant balance and Percentage of class columns represents long positions in the shares of the Offeree company.