HKBN Ltd. — M&A Activity 2025

Aug 8, 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.

HKBN Ltd.

香港寬頻有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1310)

DESPATCH OF THE RESPONSE DOCUMENT IN RELATION TO VOLUNTARY CONDITIONAL GENERAL CASH OFFER BY CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LIMITED ON BEHALF OF CHINA MOBILE HONG KONG COMPANY LIMITED TO ACQUIRE ALL OF THE ISSUED SHARES IN HKBN LTD. (OTHER THAN THOSE ALREADY OWNED BY CHINA MOBILE HONG KONG COMPANY LIMITED AND PARTIES ACTING IN CONCERT WITH IT)

Reference is made to (i) the announcement issued by China Mobile Hong Kong Company Limited (the "Offeror") on 2 December 2024 in relation to the pre-conditional voluntary general cash offer by China International Capital Corporation Hong Kong Securities Limited, for and on behalf of the Offeror, to acquire all of the issued shares in HKBN Ltd. (the "Company") (other than those already owned by the Offeror and parties acting in concert with it) (the "Share Offer"); (ii) the offer document dated 6 August 2025 issued by the Offeror in relation to the Share Offer (the "Offer Document"); and (iii) the response document dated 9 August 2025 issued by the Company in response to the Offer Document (the "Response Document").

Unless otherwise defined herein, all capitalised terms used in this announcement shall have the same meanings as those defined in the Response Document.

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DESPATCH OF THE RESPONSE DOCUMENT

The Response Document containing, among other things, (i) a letter from the Board and a letter from the Executive Director, each in response to the Share Offer; (ii) a letter from the Independent Board Committee containing its recommendations to the Disinterested Shareholders in respect of the Share Offer; and (iii) a letter from the Independent Financial Adviser containing its advice to the Independent Board Committee in respect of the Share Offer, will be despatched to the Disinterested Shareholders on 9 August 2025.

Disinterested Shareholders should consider carefully the terms of the Share Offer and are recommended to read the full text of the Response Document, the recommendation of the Independent Board Committee and the letter from the Independent Financial Adviser set out in the Response Document before making a decision to accept or not to accept the Share Offer.

The Share Offer is subject to the Conditions being satisfied or, if capable of being waived, waived on or before the Conditions Long Stop Date and therefore the Share Offer may or may not become unconditional and may or may not be completed. Shareholders and/or potential investors of the Company are advised to exercise caution in dealing in the securities of the Company. Persons who are in doubt as to the action they should take or their position should consult their stockbrokers, bank managers, solicitors or other professional advisers.

By order of the Board
HKBN Ltd.
Cordelia CHUNG
Chairman

Hong Kong, 8 August 2025

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

Executive Director
Mr. Chu Kwong YEUNG

Independent Non-executive Directors
Ms. Cordelia CHUNG (Chairman)
Ms. Ming Ming Anna CHEUNG
Ms. Kit Yi Kitty CHUNG

The Directors jointly and severally accept full responsibility for the accuracy of information contained in this announcement, and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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