PSI Group Holdings ^{Withdrawn, Nasdaq: PSIG}

We are a freight forwarding service provider headquartered in Hong Kong with networks across the globe. We conduct our operations through our subsidiaries in Hong Kong, Profit Sail Int’l Express (H.K.) Limited and Business Great Global Supply Chain Limited (collectively the “Operating Subsidiaries”). Our Operating Subsidiaries provide air and ocean export and import freight forwarding services with optional ancillary logistics related services (such as cargo pick up, cargo handling at ports and local transportation) and warehousing related services (such as repackaging, labelling, palletization, preparation of shipping documentation, arrangement of customs clearance and warehousing) to meet the requirement of our customers. Our Operating Subsidiaries derive their revenue principally from air freight forwarding services and ocean freight forwarding services. For FY2020 and FY2021, PSIHK’s total revenue amounted to approximately USD 71.0 million and USD 130.9 million, respectively. In 6M2022, taking into account the acquisition of BGG in March 2022, our Operating Subsidiaries’ total revenue amounted to approximately USD 49.5 million. Most of the revenue is generated from air freight forwarding services, which represented 94.6%, 94.4% and 92.9% of the total revenue during FY2020, FY2021 and 6M2022 respectively as compared to 3.7%, 5.1% and 7.1% generated by ocean freight forwarding services.