HKBN Ltd. — Capital/Financing Update 2025

Oct 31, 2025

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.

HONG KONG
BROADBAND NETWORK

HKBN Ltd.

香港寬頻有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1310)

DISCLOSURE UNDER RULE 13.18 OF THE LISTING RULES

This announcement is made by HKBN Ltd. (the "Company") pursuant to Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors (the "Board") of the Company announces that on 31 October 2025, certain wholly-owned subsidiaries of the Company each as borrower (the "Borrowers"), the Company, the Borrowers and certain other wholly-owned subsidiaries of the Company each as guarantor, among others, entered into a facility agreement (the "Facility Agreement") with a syndicate of banks as lenders (each a "Lender") in respect of a term loan facility in an aggregate amount of HK$10,750,000,000 (the "Facility"). The Facility will mature on the date falling 364 days after the initial drawdown of the Facility (or if such date is not a business day under the Facility Agreement, the immediately preceding business day), which may at the Company's option, subject to satisfaction of certain conditions, be extended twice by a period of 24 months each without any lender's consent.

Pursuant to the terms of the Facility Agreement, in the event the controlling shareholder of the Company, China Mobile Hong Kong Company Limited ("CMHK") together with its affiliates (in aggregate) cease to beneficially hold, directly or indirectly, more than 50% of the issued voting ordinary shares in the Company, any Lender may by written notice to the facility agent cancel the available commitment of such Lender and require the mandatory prepayment by the Borrowers of such amount of the outstanding loans (together with all accrued but unpaid interest) that represents such Lender's participation in all outstanding loans under the Facility Agreement and all other accrued or outstanding amounts owing to such Lender under the related finance documents.

As at the date of this announcement, CMHK is beneficially interested in approximately 74.84% of the total issued share capital of the Company.

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The Company will make continuing disclosure in its subsequent interim and annual reports in accordance with the requirements of Rule 13.21 of the Listing Rules.

By order of the Board
HKBN Ltd.
LING Hao
Chairman

Hong Kong, 31 October 2025

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

Executive Directors	Independent Non-executive Directors
Mr. LING Hao (Chairman)	Ms. CHUNG Cordelia
Mr. LI Xin	Ms. CHEUNG Ming Ming Anna
Mr. LEI Liquun	Ms. CHUNG Kit Yi Kitty
Non-executive Director
Mr. LUO Weimin

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

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