Prysmian announces the sale of 28,246,771 H shares of YOFC, representing approximately 3.7% of YOFC's outstanding equity total share capital

This press release is for information purposes only and does not constitute or form part of, an offer  or any solicitation of an offer for securities in any jurisdiction. This press release is not for release,  publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would  constitute a violation of the applicable laws or regulations of such jurisdiction. Please also refer to  the disclaimers at the end of this press release.

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Prysmian S.p.A, through its fully owned subsidiary Draka Comteq B.V. ("Draka" or the "Selling Shareholder"), announces that today it entered into a placing agreement for the sale, to a limited number of institutional investors, of 28,246,771 H shares of Yangtze Optical Fibre and Cable Joint Stock Limited Company ("YOFC" or the "Company") listed on the Hong Kong Stock Exchange ("HKEX"), representing approximately 3.7% of the Company's total share capital as at the date of this press release (the "Placement"), at a price of HK$ 12.40 per share.

The Placement is aimed at increasing the Company's free float, help enhancing its shares' liquidity and attracting new investors in the share capital. Upon completion of the Placement, Draka, which as at the date of this announcement holds approximately 23.7% of the Company's total share capital, will reduce its stake to a percentage of approximately 20.0% in the Company's total share capital.

J.P. Morgan acted as Sole Bookrunner in connection with the Placement.

In connection with the Placement, the Selling Shareholder agreed to a 60-day lock-up period with respect to any remaining equity H shares of the Company it will hold following the Placement under the placing agreement.

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The information contained in this announcement may contain forward-looking statements, estimates and projections. Forward-looking statements involve all matters that are not historical and may be identified by the words “anticipate”, ”believe”, ”estimate”, ”expect”, ”intend”, ”may”, ”should”, ”will”, ”would” and similar expressions or their negatives, but the absence of these words does not necessarily mean that a statement is not forward-looking. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Therefore, you should not rely on these forward-looking statements as a prediction of actual results. Any forward-looking statements are made only as of the date of this press release and neither Prysmian, the Selling Shareholder nor any other person are under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this press release or to update or keep current any of the information contained herein, any changes in assumptions or changes in factors affecting these statements and this press release is not a representation by Prysmian, the Selling Shareholder or any other person that they will do so, except to the extent required by law.