PCCW Limited — Capital/Financing Update 2026

May 5, 2026

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.

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PCCW Limited 電訊盈科有限公司

(Incorporated in Hong Kong with limited liability) (Stock Code: 00008)

GRANT OF SHARE AWARDS

This announcement is made pursuant to Rules 17.06A, 17.06B and 17.06C of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”).

The board of directors (the “ Board ”) of PCCW Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) announces that on 5 May 2026, the Company granted awards involving a total number of 1,601,554 shares to be issued by the Company (“ Share(s) ”) under the PCCW Limited 2024 Share Award Scheme adopted on 30 May 2024 (the “ 2024 Share Award Scheme ”). Details of the grant are set out below:

Date of grant:	5 May 2026
Name of grantee:	Hui Hon Hing, Susanna
Relationship between thegrantee and the Company:	ExecutiveDirector, ActingGroupManagingDirectorand Group Chief Financial Officer
Number of awards granted:	1,601,554 Share awards
Purchase price of awardsgranted:	Nil
Closing price of the Shareson the date of grant:	HK$6.16 per Share
Vesting period:	In respect of 800,777 Share awards:5 May 2026 to 5 May 2027In respect of 800,777 Share awards:5 May 2026 to 5 May 2028

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Performance targets:

The number of awards granted to the grantee was determined bythe Company’s Remuneration Committee after having taken intoaccount the performance of the Group and the grantee’scontribution thereto for the relevant financial period, such thatrelevant performance targets have already been met before anygrant is decided to be made. Accordingly, there is noperformance target stipulated as a condition to vesting of theawards granted.

Clawback mechanism:

According to the rules of the 2024 Share Award Scheme, there isno clawback mechanism to recover or withhold awards that havebeen made to the grantee.

Pursuant to Rule 17.04(1) of the Listing Rules, the grant of awards to the above director of the Company has been approved by all the Independent Non-Executive Directors of the Company.

Following the grant and as at the date of this announcement, the number of Shares available for future grant pursuant to the scheme mandate limit (as defined in the Listing Rules) is 764,031,146 and, within the scheme mandate limit, the service provider sublimit (as defined in the Listing Rules) under the 2024 Share Award Scheme is 38,698,191.

By order of the Board of PCCW Limited Cheung Hok Chee, Vanessa Group General Counsel and Company Secretary

Hong Kong, 5 May 2026

As at the date of this announcement, the directors of the Company are as follows:

Executive Directors

Li Tzar Kai, Richard (Chairman) and Hui Hon Hing, Susanna (Acting Group Managing Director and Group Chief Financial Officer)

Non-Executive Directors

Tse Sze Wing, Edmund, GBS; Tang Yongbo (Deputy Chairman); Feng Lanxiao; Zhao Xingfu and Wei Zhe, David

Independent Non-Executive Directors

Aman Mehta; Frances Waikwun Wong; Bryce Wayne Lee; Lars Eric Nils Rodert; David Christopher Chance and Sharhan Mohamed Muhseen Mohamed

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