HKBN Ltd. — Board/Management Information 2018

May 28, 2018

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.

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HKBN Ltd. 香港寬頻有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1310)

APPOINTMENT OF EXECUTIVE VICE-CHAIRMAN AND CHIEF EXECUTIVE OFFICER

The Board of Directors (the “ Board ”) of HKBN Ltd. (the “ Company ” together with its subsidiaries, the “ Group ”) is pleased to announce that at its meeting held on 28 May 2018, it has approved the appointment of Mr. William Chu Kwong Yeung (“ Mr. Yeung ”), the Chief Executive Officer and an Executive Director of the Company, as the Executive Vice-chairman with effect from 1 September 2018. Following the appointment of Mr. Yeung as the Executive Vice-chairman, Mr. Ni Quiaque Lai (“ Mr. Lai ”), the current Chief Operating Officer and an Executive Director of the Company, will take the role as the Chief Executive Officer of the Group with effect from 1 September 2018.

These appointments are part of a succession plan whereby Mr. Yeung will step up to focus on engaging key strategic partners and exploring new business opportunities for the Company and will report to the Board. Mr. Yeung will maintain his directorship as an Executive Director, the chairman of the nomination committee and a member of the remuneration committee. Mr. Lai will step up as the Chief Executive Officer of the Group and take on operational leadership, together with the other members of the management team. There will not be any replacement for the Chief Operating Officer after the succession arrangement becomes effective on 1 September 2018, as Mr. Lai’s prior responsibilities will be spread amongst his direct reports. Mr. Lai will maintain his directorship as an Executive Director.

Both Mr. Yeung and Mr. Lai have committed to fully subscribing their maximum one-year gross salary investment in the Co-Ownership Plan III approved by the general meeting of the Company held on 15 December 2017.

Mr. Lai joined the Group in May 2004 and was appointed Chief Financial Officer in 2006, an Executive Director and the Chief Operating Officer of the Group in December 2014 and March 2017, respectively. As a fellow founding Co-Owner, Mr. Lai has worked closely with Mr. Yeung since 2005, and together, they led the Company from Management Buy-Out in May 2012 to Initial Public Offering (IPO) in March 2015 and the acquisition of New World Telecom in March 2016.

Set out below is the biographical information of Mr. Yeung and Mr. Lai:

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EXECUTIVE VICE-CHAIRMAN

William Chu Kwong YEUNG , aged 57, is the Chief Executive Officer of the Group, and an Executive Director of the Company.

Mr. Yeung lives and breathes the telecommunications industry. Shortly after starting out as a police inspector, Mr. Yeung realised his passion was in customer engagement and operational efficiency. His telecommunications career began with Tricom in Hong Kong, and was followed by a role as Director of Customers Division at SmarTone Mobile Communications Limited. He joined the Group in 2005 as Chief Operating Officer and was appointed as the Chief Executive Officer in 2008. Today, Mr. Yeung leads HKBN Talents to deliver world-class products and services to make our Hong Kong a better place to live. He holds a Bachelor of Arts Degree from Hong Kong Baptist University, a Master of Business Administration Degree from the University of Strathclyde, U.K., and a Master of Science Degree in Electronic Commerce and Internet Computing from The University of Hong Kong. In 2010, Mr. Yeung was recognised as a Champion of Human Resources by The Hong Kong HRM Awards. Mr. Yeung is a proud Co-Owner of the Company. As at the date of this announcement, Mr. Yeung has personal interests in 27,086,427 ordinary shares of the Company, representing approximately 2.69% of the issued share capital of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

CHIEF EXECUTIVE OFFICER

Ni Quiaque LAI (also known as NiQ), aged 48, is the Chief Operating Officer of the Group, and an Executive Director of the Company. Mr. Lai joined the Group in May 2004 and has over 20 years of experience in the telecommunications, research and finance industries.

Prior to joining the Group, Mr. Lai was an analyst and the Director and Head of Asia Telecom Research for Credit Suisse, where he was involved in numerous global fundraising initiatives for a wide range of Asian telecom carriers. Prior to Credit Suisse, Mr. Lai held positions in HKT, as a strategic planning manager, and Kleinwort Benson Securities (Asia). Mr. Lai graduated from the University of Western Australia with a Bachelor of Commerce Degree in April 1990 and obtained an Executive Master of Business Administration Degree from Kellogg-HKUST, Chicago-Hong Kong in June 2009. Mr. Lai is a fellow member of Hong Kong Institute of Certified Public Accountants and CPA Australia, and a member of the Hong Kong Institute of Directors. In 2009, he was recognised as Champion of Human Resources by The Hong Kong HRM Awards, and was selected by Global Telecoms Business in 2013 as one of the Top 50 CFOs in the industry to watch. In March 2016, he was recognised as 1st for Best CFO by FinanceAsia Survey of Asia’s Best Companies 2016 (Hong Kong). For the sake of completeness, Mr. Lai is currently a member of Advisory Board of Citycom Networks Pvt. Ltd. and a Director of Cambodian Children’s Fund (Hong Kong) Limited. Mr. Lai is a proud Co-Owner of the Company. As at the date of this announcement, Mr. Lai has personal interests in 32,997,122 ordinary shares of the Company, representing approximately 3.28% of the issued share capital of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, as at the date of this announcement, (a) both Mr. Yeung and Mr. Lai do not hold any other major appointments and has not held any position or directorship in any other listed public companies during the last three years preceding the date of this announcement; (b) both of them do not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company; and (c) both of them hold directorships in certain subsidiaries of the Company.

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As at the date of this announcement, both Mr. Yeung and Mr. Lai have not entered into any service contract with the Company with their respective new appointments and the basis of determining their remuneration packages will remain unchanged, their respective emoluments for the year ended 31 August 2017 are shown in the annual report of 2017 (page 138 Directors’ Emoluments). The emoluments of the directors of the Company are recommended by the remuneration committee and are decided by the Board, having regard to the Group’s operating results, individual performance and comparable market statistics.

Save as disclosed above, there is no other information that is required to be disclosed pursuant to the requirements under Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on the Stock Exchange nor are there any other matters that need to be brought to the attention of the shareholders of the Company in respect of the appointments of Mr. Yeung and Mr. Lai.

The Board would like to express its warmest welcome to both Mr. Yeung and Mr. Lai in taking on their new appointments.

By order of the Board HKBN Ltd. Bradley Jay HORWITZ Chairman

Hong Kong, 28 May 2018

As at the date of this announcement, the Board comprises:

Executive Directors

Mr. William Chu Kwong YEUNG Mr. Ni Quiaque LAI

Independent Non-executive Directors Mr. Bradley Jay HORWITZ (Chairman) Mr. Stanley CHOW Mr. Quinn Yee Kwan LAW, SBS, JP

Non-executive Director

Ms. Deborah Keiko ORIDA

Where the English and the Chinese texts conflicts, the English text prevails.

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