On February 27, 2026 (Hong Kong time), NetEase, Inc. (9999) received a Migration Exchange Notice from the Hong Kong Exchange, indicating that at least 55.00% of the global trading volume (by dollar value) of the company’s shares during the 2025 fiscal year occurred on the Hong Kong market. As a result, under Note 1 to HK Listing Rule 19C.13, NetEase, Inc. is regarded as having permanently migrated the majority of its share trading to Hong Kong.

According to Note 2 to HK Listing Rule 19C.13, there is a 12-month Migration Grace Period from the date of the notice, ending at midnight on February 27, 2027. Upon the earlier of this deadline or a date voluntarily chosen by the company, NetEase, Inc. will be subject to all relevant HK Listing Rules required of a dual-primary listed issuer, unless waived or exempted. The company is currently evaluating potential time extensions, waivers, and exemptions and will issue further updates as necessary.

The existing stock marker “S” remains in effect, with the applicable waivers, exemptions, and rulings continuing to apply until the HK Primary Effective Date. Failure to comply fully with HK Listing Rules by the end of the grace period may lead the Hong Kong Exchange to extend the grace period, suspend trading of the shares, or take other measures as deemed necessary. NetEase, Inc. will provide monthly progress reports to the Hong Kong Exchange and keep shareholders and potential investors informed of any significant developments through periodic announcements.