HKBN Ltd. — Director's Dealing 2025

May 19, 2025

SECURITIES AND

FUTURES COMMISSION

證券及期貨事務監察委員會

Public Disclosure Form

19 May 2025

Possible voluntary general offer

Disclosure of dealings in the shares of HKBN LTD.

The Executive received the following disclosure of securities dealings pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers:

Party	Date	Description of relevant securities	Description of products	Nature of dealings	Number of reference securities to which the derivatives relate	Maturity date / closing out date	Reference price	Total amount paid / received	Resultant balance (including those of any person with whom there is an agreement or understanding)
J.P. Morgan Securities PLC	16 May 2025	Derivatives	Other types of products	Issue of a derivative	2,500	10 February 2026	$5.0847	$12,711.7500	23,044,523
		Derivatives	Other types of products	Issue of a derivative	5,500	10 February 2026	$5.0847	$27,965.8500	23,050,023
		Derivatives	Other types of products	Issue of a derivative	2,500	16 January 2029	$5.0886	$12,721.5000	23,052,523
		Derivatives	Other types of products	Closing out of a derivative contract	38,500	28 April 2026	$5.0711	$195,235.5800	23,014,023

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SFC

證監會

Public Disclosure Form

		Derivatives	Other types of products	Closing out of a derivative contract	15,000	28 April 2026	$5.0711	$76,065.8100	22,999,023
		Derivatives	Other types of products	Closing out of a derivative contract	37,000	28 April 2026	$5.0711	$187,629.0000	22,962,023
		Derivatives	Other types of products	Closing out of a derivative contract	10,500	28 April 2026	$5.0711	$53,246.0700	22,951,523

End

Note:

J.P. Morgan Securities PLC is a Class (5) associate connected with the Offeree company.

Dealings were made for its own account.

J.P. Morgan Securities PLC is ultimately owned by JPMorgan Chase & Co..