FWD Group Holdings Limited (“FWD”) has released the full rules of its Employee Share Purchase Plan, originally adopted on 30 January 2022 and now amended on 27 February 2023, 8 August 2024, 16 May 2025 and [29] May 2026. The updated plan will take effect on 7 July 2025 and remain in force for 10 years.

Key Features • Purpose: Enhance retention, motivation and alignment of employees’ interests with shareholders by offering equity participation. • Eligibility: Open solely to employee participants. Non-employee directors and their associates are excluded. Participation by directors, chief executives or substantial shareholders (and their associates) requires independent non-executive director approval. • Contributions & Matching: During a designated enrolment period each year, employees may allocate a board-approved percentage of monthly basic salary to buy “Purchase Shares”. For every Purchase Share, the Company grants a pre-set ratio of matching Restricted Share Units (RSUs). • Plan Year & Vesting: Each Plan Year spans 12 months. RSUs generally vest three years after the first day of the relevant Plan Year, subject to service and any additional conditions. Where RSUs are settled with newly issued shares, vesting (or combined vesting and holding) is at least 12 months unless specific exceptions apply. • Share Sourcing: A trustee will either (i) acquire shares on- or off-market, or (ii) receive new share issuances from FWD. Purchase Shares and unvested Award Shares are held in trust until transfer. Newly issued shares allotted as Purchase Shares are subject to a 12-month holding period. • Mandate Limit: The maximum number of new shares that can be issued under this plan and all other FWD share plans is capped at 10% of the total issued share capital (excluding treasury shares) on the listing date, renewable with shareholder approval every three years. • Individual Limit: In any rolling 12-month period, no employee may receive new shares exceeding 1% of issued share capital. For any director, chief executive or substantial shareholder (or their associates), the limit is 0.1% and any excess requires separate shareholder approval. • Malus & Clawback: Prior to vesting, the board may reduce or cancel RSUs; post-delivery, it may require repayment (cash or share surrender) in cases such as financial misstatement, misconduct or significant reputational damage. • Corporate Events: The board may accelerate vesting or lift holding periods in the event of takeovers, mergers or voluntary winding-up; un-vested RSUs lapse if not otherwise determined. • Governance & Duration: The plan is administered by the board, with delegation to the remuneration committee permitted. It expires on the tenth anniversary of effectiveness, although outstanding awards continue to be managed under the rules until settled. • Regulatory Caveats: The plan is not a public offer under Hong Kong law and has not been reviewed by any regulatory authority.

The updated framework underscores FWD’s long-term equity-based approach to employee remuneration while embedding stringent share-issuance and risk-mitigation controls.