Peak Re Announces Transaction Completed to Sell a 13.1% Stake to Prudential Financial, Inc.

Peak Reinsurance Company Limited (“Peak Re”), a global reinsurer based in Hong Kong, announces today that Peak Reinsurance Holdings Limited (“Peak Re Holdings”), the sole and direct shareholder of Peak Re, has completed the previously announced transaction to sell a 13.1% stake in Peak Re Holdings, via an issuance of new shares, to a whollyowned subsidiary of U.S.-headquartered Prudential Financial, Inc. (“PFI”).

The closing occurred following satisfaction of closing conditions including completion of regulatory procedures with relevant regulators. Fosun International Limited (00656.hk) (“Fosun”) and PFI now hold 86.9% and 13.1% of Peak Re via Peak Re Holdings, respectively.

Prudential Financial, Inc. (“PFI”), of the United States, and its subsidiaries are not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom.

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