HKBN Ltd. — M&A Activity 2025

May 7, 2025

SECURITIES AND

FUTURES COMMISSION

證券及期貨事務監察委員會

Public Disclosure Form

7 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	6 May 2025	Derivatives	Other types of products	Closing out of a derivative contract	6,358	29 August 2025	$5.1130	$32,508.4500	22,196,483
		Derivatives	Other types of products	Closing out of a derivative contract	87,595	29 August 2025	$5.1130	$447,873.2400	22,284,078
		Derivatives	Other types of products	Closing out of a derivative contract	15,131	29 August 2025	$5.1130	$77,364.8000	22,299,209
		Derivatives	Other types of products	Closing out of a derivative contract	24,930	29 August 2025	$5.1130	$127,467.0900	22,324,139

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SFC

證監會

Public Disclosure Form

		Derivatives	Other types of products	Closing out of a derivative contract	178,884	29 August 2025	$5.1130	$914,633.8900	22,503,023
		Derivatives	Other types of products	Issue of a derivative	13,000	16 January 2029	$5.1139	$66,480.7000	22,516,023

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..