Hong Kong, 19 March 2026 – In connection with the proposed privatisation of ENN Natural Gas Co., Ltd. by way of scheme of arrangement, Morgan Stanley & Co., International plc—classified as a Class (5) associate of the offeror—reported Delta-1 hedging transactions in ENN Natural Gas A shares executed on 18 March 2026.

Morgan Stanley purchased 5,300 A shares at prices ranging from RMB 21.94 to RMB 22.06, paying a total of RMB 0.12 million. On the same day, it sold 5,600 A shares at prices between RMB 22.06 and RMB 22.45, receiving RMB 0.12 million. The combined value of the two opposite-side trades amounted to approximately RMB 0.24 million, resulting in a net disposal of 300 shares and a net cash inflow of about RMB 0.01 million.

The dealings were executed for Morgan Stanley’s own account and arose from wholly unsolicited, client-driven orders. Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley.

These disclosures are made pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers as part of the ongoing privatisation process for ENN Natural Gas.