HKBN Ltd. — Director's Dealing 2025

Mar 10, 2025

Public Disclosure Form

SECURITIES AND
FUTURES COMMISSION
證券及期貨事務監察委員會

10 March 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)
Morgan Stanley Capital Services LLC	7 March 2025	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	500	25 February 2027	$5.1600	$2,580.0000	0
		Derivatives	Other types of products	Unsolicited client facilitation - Sale	500	25 February 2027	$5.1600	$2,580.0000	0
		Derivatives	Other types of products	Unsolicited client facilitation - Purchase	3,766	24 October 2025	$5.1531	$19,406.7403	0
		Derivatives	Other types of products	Unsolicited client facilitation - Sale	3,766	24 October 2025	$5.1531	$19,406.7403	0

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SFC

證監會

Public Disclosure Form

	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	4,000	28 November 2025	$5.1513	$20,605.0000	0
	Derivatives	Other types of products	Unsolicited client facilitation - Sale	4,000	28 November 2025	$5.1513	$20,605.0000	0
	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	5,366	30 December 2025	$5.1532	$27,652.2858	0
	Derivatives	Other types of products	Unsolicited client facilitation - Sale	5,366	30 December 2025	$5.1532	$27,652.2858	0
	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	13,558	2 October 2026	$5.1533	$69,868.3194	0
	Derivatives	Other types of products	Unsolicited client facilitation - Sale	13,558	2 October 2026	$5.1533	$69,868.3194	0
	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	18,078	24 October 2025	$5.1533	$93,160.5186	0
	Derivatives	Other types of products	Unsolicited client facilitation - Sale	18,078	24 October 2025	$5.1533	$93,160.5186	0
	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	31,336	30 April 2025	$5.1533	$161,483.2886	0
	Derivatives	Other types of products	Unsolicited client facilitation - Sale	31,336	30 April 2025	$5.1533	$161,483.2886	0
	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	35,500	24 July 2028	$5.1738	$183,670.0065	0

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SFC

證監會

Public Disclosure Form

	Derivatives	Other types of products	Unsolicited client facilitation - Sale	35,500	24 July 2028	$5.1738	$183,670.0065	0
	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	42,326	22 December 2025	$5.1533	$218,118.5885	0
	Derivatives	Other types of products	Unsolicited client facilitation - Sale	42,326	22 December 2025	$5.1533	$218,118.5885	0
	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	61,000	24 July 2028	$5.1510	$314,210.0240	0
	Derivatives	Other types of products	Unsolicited client facilitation - Sale	61,000	24 July 2028	$5.1510	$314,210.0240	0
	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	78,000	31 July 2025	$5.1506	$401,745.0060	0
	Derivatives	Other types of products	Unsolicited client facilitation - Sale	78,000	31 July 2025	$5.1506	$401,745.0060	0

End

Note:
Morgan Stanley Capital Services LLC is a Class (5) associate connected with the Offeree company.
Dealings were made for its own account.
Morgan Stanley Capital Services LLC is ultimately owned by Morgan Stanley.