NetEase Cloud Music Inc. (NetEase Music) reported a share capital adjustment on 23 March 2026, triggered mainly by an on-market repurchase and a minor option exercise.

The company repurchased 118,400 ordinary shares on the Hong Kong Stock Exchange at prices ranging from HKD 125.10 to HKD 128.80, spending HKD 15.00 million in aggregate. All repurchased shares were retained as treasury shares.

Separately, 200 new shares were issued at HKD 85.80 each following the exercise of options under the Pre-IPO Share Incentive Scheme.

Share capital movements were as follows: • Opening balance on 20 March 2026: 215.17 million issued shares (excluding treasury) and 2.74 million treasury shares. • After the 23 March 2026 transactions: 215.06 million issued shares (excluding treasury) and 2.86 million treasury shares. • Net decrease in issued shares (excluding treasury): 118,200 shares, equivalent to 0.05% of the pre-event float. • Total shares in issue (including treasury) remained broadly unchanged at 217.91 million.

Under the general mandate approved on 25 June 2025, NetEase Music is authorised to repurchase up to 21.74 million shares. Cumulative buybacks under this mandate now stand at 2.53 million shares, representing 1.16 % of the company’s issued shares at the mandate date.

In line with Hong Kong listing rules, NetEase Music is subject to a moratorium on new share issues or treasury-share sales until 22 April 2026.