HKBN Ltd. — Director's Dealing 2025

May 2, 2025

SECURITIES AND

FUTURES COMMISSION

證券及期貨事務監察委員會

Public Disclosure Form

2 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	30 April 2025	Derivatives	Other types of products	Closing out of a derivative contract	760,000	3 February 2026	$5.0871	$3,866,158.7600	19,166,125
		Derivatives	Other types of products	Closing out of a derivative contract	750,000	3 February 2026	$5.0774	$3,808,077.0000	19,916,125
		Derivatives	Other types of products	Issue of a derivative	4,500	27 February 2026	$5.0761	$22,842.4500	19,920,625
		Derivatives	Other types of products	Issue of a derivative	3,500	16 January 2029	$5.0766	$17,768.1000	19,924,125

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SFC

證監會

Public Disclosure Form

		Derivatives	Other types of products	Issue of a derivative	631,500	7 May 2026	$5.0663	$3,199,368.4500	20,555,625
		Derivatives	Other types of products	Closing out of a derivative contract	8,000	28 April 2026	$5.0637	$40,509.9000	20,547,625
		Derivatives	Other types of products	Closing out of a derivative contract	20,000	28 April 2026	$5.0637	$101,274.7600	20,527,625

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..