IGG : GRANT OF AWARDED SHARES UNDER THE SHARE AWARD SCHEME

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

IGG INC

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 799)

GRANT OF AWARDED SHARES UNDER THE SHARE AWARD SCHEME

On 6 May 2021, based on the recommendation of the remuneration committee of the Company, the Board resolved to grant a total of 3,192,565 Awarded Shares, which have been acquired by the Trustee from the open market by utilising the Company's internal resources provided to the Trustee, to (i) nine Share Award Grantees, who are Directors; and (ii) 14 Share Award Grantees, who are employees of the Group pursuant to the Share Award Scheme at nil consideration, subject to the acceptances by the Share Award Grantees. To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, save for the Share Award Grantees who are Directors as disclosed above, each of the other Share Award Grantees is a third party independent of the Company and its connected persons.

The grant of the Awarded Shares to the Directors has been approved by the Board (including all three independent non-executive Directors, save and except for the relevant Director who is a Share Award Grantee whom has abstained from voting in relation to the grant of awarded shares to himself/herself). The grant of the Awarded Shares to the Directors also forms part of their remuneration packages under their respective service contracts with the Company, and is therefore exempt from the reporting, announcement and independent shareholders' approval requirements under Rule 14A.73(6) and Rule 14A.95 of the Listing Rules.

The 3,192,565 Awarded Shares to be granted to the Share Award Grantees represent approximately 0.27% of the issued share capital of the Company as at the date of this announcement. The 3,192,565 Awarded Shares represent the value of approximately HK$38.12 million, taking into account of the closing price of HK$11.94 per Share as stated in the daily quotation sheets issued by the Stock Exchange on the Date of Grant.

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Details of the Share Award Grantees are set out below:
	Number of
Share Award Grantees	Awarded Shares
Employees of the Group	207,565
Directors
Mr. Zongjian Cai	746,000
Mr. Yuan Xu	579,000
Mr. Hong Zhang	493,000
Ms. Jessie Shen	544,000
Mr. Feng Chen	391,000
Mr. Yuan Chi	82,000
Dr. Horn Kee Leong	72,000
Mr. Dajian Yu	39,000
Ms. Zhao Lu	39,000
Total	3,192,565

The details of the Awarded Shares granted are as follows:

The Awarded Shares granted shall vest in the Share Award Grantees in accordance with the schedules below (for this purpose, the date or each such date on which the Awarded Shares are to vest being hereinafter referred to as a "Share Award Vesting Date"):

Awarded Shares granted to Directors

Among the 3,192,565 Awarded Shares granted, 2,985,000 Awarded Shares, which were granted to the Directors, shall be subject to a vesting period as follows:

Share Award Vesting Date	Percentage of Awarded Shares to Vest
On the date of the annual general	50% of the total number of Awarded Shares granted
meeting to be convened in 2022
On the date of the annual general	50% of the total number of Awarded Shares granted
meeting to be convened in 2023

Awarded Shares granted to certain employees

Among the 3,192,565 Awarded Shares granted, 85,550 Awarded Shares, which were granted to certain employees, shall be subject to a vesting period as follows:

Share Award Vesting Date	Percentage of Awarded Shares to Vest
On 6 May 2022	50% of the total number of Awarded Shares granted
On 6 May 2023	50% of the total number of Awarded Shares granted

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Other Awarded Shares

The remaining 122,015 Awarded Shares which were granted to certain employees shall be subject to a vesting period as follows:

Share Award Vesting Date	Percentage of Awarded Shares to Vest
On 6 May 2022	25% of the total number of Awarded Shares granted
On 6 May 2023	25% of the total number of Awarded Shares granted
On 6 May 2024	25% of the total number of Awarded Shares granted
On 6 May 2025	25% of the total number of Awarded Shares granted

Once vested, at the request of the relevant Share Award Grantees, the Awarded Shares can be transferred to the relevant Share Award Grantees from the Trustee, or the Trustee can sell the vested Awarded Shares for them and subsequently transfer the income arising from such sales to the relevant Share Award Grantees.

DEFINITIONS

In this announcement, the following expressions shall have the following meanings unless the context requires otherwise:

"Awarded Shares"The 3,192,565 awarded Shares granted to the Share Award Grantees pursuant to the Share Award Scheme on the Date of Grant

"Board"

"Company"

"connected persons"

"Date of Grant"

"Director(s)"

"Group"

"HK$"

"Listing Rules"

"Share Award Grantee(s)"

the board of Directors of the Company

IGG Inc, an exempted company incorporated in the Cayman Islands and whose shares are listed on the Stock Exchange

has the meaning ascribed thereto under the Listing Rules

6 May 2021, the date on which the Awarded Shares are granted

director(s) of the Company

the Company and its subsidiaries

Hong Kong dollars, the lawful currency of Hong Kong

the Rules Governing the Listing of Securities on the Stock Exchange

the grantees selected by the Board on 6 May 2021, to whom the Awarded Shares are granted on the same date by the Board pursuant to the terms of the Share Award Scheme

"Share Award Scheme" the share award scheme adopted by the Company on 24 December 2013, the principal terms of which are summarised in the announcement of the Company dated 24 December 2013

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"Share(s)"

"Stock Exchange"

"Trust Deed"

"Trustee"

"US$"

"%"

Hong Kong, 6 May 2021

means ordinary share(s) of US$0.0000025 each in the share capital of the Company

The Stock Exchange of Hong Kong Limited

a trust deed in relation to the Share Award Scheme for the Company entered into between the Company and the Trustee on 17 February 2014 (as restated, supplemented and amended from time to time)

Computershare Hong Kong Trustees Limited, and any additional or replacement trustees, being the trustee or trustees for the time being of the trusts declared in the Trust Deed

United States dollars, the lawful currency of the United States of America

per cent

By order of the Board

IGG INC

Zongjian Cai

Chairman

As at the date of this announcement, the Board comprises five executive Directors, namely, Mr. Zongjian Cai, Mr. Yuan Xu, Mr. Hong Zhang, Ms. Jessie Shen and Mr. Feng Chen; one non-executive Director, namely, Mr. Yuan Chi; and three independent non-executive Directors, namely, Dr. Horn Kee Leong, Mr. Dajian Yu and Ms. Zhao Lu.

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