HKBN Ltd. — M&A Activity 2025

Mar 28, 2025

Public Disclosure Form

28 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	27 March 2025	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	500	28 November 2025	$5.2100	$2,605.0000	0
		Derivatives	Other types of products	Unsolicited client facilitation - Sale	500	28 November 2025	$5.2100	$2,605.0000	0

End

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SFC 證監會

Public Disclosure Form

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.