China Mobile acquisition of HKBN shares moves forward

China Mobile Hong Kong Company Limited's ("Offeror") acquisition of shares in HKBN Ltd. ("Company") from TPG Wireman, L.P. ("Seller") is progressing. The Offeror intends to acquire Sale Shares and Vendor Loan Note Conversion Shares in HKBN. On April 10, 2025, the Seller delivered a Conversion Notice to the Company to convert its Vendor Loan Note into 83,661,106 Vendor Loan Note Conversion Shares, per the terms of the convertible instrument. The Company is obligated to complete the issuance and registration of these shares by April 24, 2025. Completion of the share purchase is contingent upon the issuance of the Vendor Loan Note Conversion Shares to the Seller. Following that, the Offeror and Seller will proceed with Completion according to the Share Purchase Agreement. A related disclosure indicates that Morgan Stanley & Co., International plc, identified as a Class (5) associate of the Offeree Company, engaged in share dealings. On April 10, 2025, Morgan Stanley purchased 295,500 ordinary shares of HKBN at prices ranging from HKD5.0000 to HKD5.0800, for a total consideration of HKD1,489,260.0000. These transactions were part of hedging activities related to client-driven orders.