HKBN addresses public float as China Mobile Hong Kong sells shares

China Mobile Hong Kong Company Limited has agreed to place 47,925,000 existing shares of HKBN Ltd. to independent third parties, representing approximately 3.24% of the total issued shares. This action, scheduled for completion on September 24, 2025, aims to restore HKBN's public float in accordance with listing rules.

Following the placing, China Mobile Hong Kong's interest in HKBN will decrease from approximately 78.08% to 74.84% of the total issued shares. With other core connected persons holding 2.28%, the public float is projected to be approximately 22.89%, still below the minimum 25% requirement.

HKBN and China Mobile Hong Kong are committed to taking further steps to ensure a sufficient public float is achieved as soon as practicable. The company does not anticipate any material adverse effect on its operations from this placing.