AGBA Group Announces Development of New Distribution Channels to Serve Hong Kong's Financial Services Market

• AGBA launches new channels targeted at high-net-worth individuals, alongside innovation of existing product offering.
• The Group's breadth of products and services, coupled with its decades of experience in servicing Mainland Chinese visitors, positions AGBA Group Holding Limited well for the ongoing integration of Hong Kong into the Greater Bay Area (GBA).

HONG KONG, Aug. 01, 2023 (GLOBE NEWSWIRE) -- NASDAQ-listed, AGBA Group Holding Limited (“AGBA”), the leading one-stop financial supermarket in Hong Kong, is widening its distribution footprint by adding new internal channels and partnering up with external channels. These new partnerships and channels will allow the Group to tap into new revenue pools. While its market-leading broker “FOCUS” has been successful, the Group sees opportunities to fulfill the needs of existing customers and reach new customers through new channels.

Through OnePlatform, FOCUS and our fintech business, the Group combines visionary fintech with an impressive range of sophisticated and easy-to-use financial solutions from respected institutions. It’s remarkable online and offline financial platform and advisory services make it easy for partner companies, financial professionals, and individuals to invest and manage wealth.

AGBA's distribution business comprises a diverse range of captive financial services distribution channels. The Group is developing new distribution channels alongside these, based on years of experience gained from building FOCUS. AGBA is continually adapting these channels to meet the specific needs of certain customer segments or sales methodologies.

Additionally, the Group has successfully developed a dedicated high-net-worth individual sales team named “PERFORM” - offering customized financial planning services to high-end customers within the Greater Bay Area, with the potential to leverage Singapore's wealthy customer database to expand its reach. The “PERFORM” team's expertise in providing tailored financial advice to HNWIs and UHNWIs aligns well with the technology and expertise of Sony Life Financial Advisers, the acquisition enables AGBA to offer more innovative products and services to this customer segment. The Group also plans to launch a direct-to-consumer digital distribution channel named "AGBA Money".

Mr. Wing-Fai Ng, Group President, AGBA Group Holding Limited said: “We are thrilled with the continued success of our distribution business and the innovative evolution of our product offering. We help our customers find solutions to their most important wealth and health challenges. We help them understand their problems, and together with them, we find the best solution. Making health and wealth easily accessible to everyone is what drives our daily operations.”

The latest press release is available on the company's website, please visit www.agba.com/ir

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Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the outcome of any legal proceedings that may be instituted against us following the consummation of the business combination; expectations regarding our strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and our ability to invest in growth initiatives and pursue acquisition opportunities; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Hong Kong and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC, the length and severity of the recent coronavirus outbreak, including its impacts across our business and operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

About AGBA Group:

Established in 1993, AGBA Group Holding Limited (NASDAQ: “AGBA”) is a leading one-stop financial supermarket based in Hong Kong offering the broadest set of financial services and healthcare products in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through a tech-led ecosystem, enabling clients to unlock the choices that best suit their needs. Trusted by over 400,000 individual and corporate customers, the Group is organized into four market-leading businesses: Platform Business, Distribution Business, Healthcare Business, and Fintech Business.

For more information about AGBA, please visit www.agba.com

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