ZTO Express-W (ZTO Express (Cayman) Inc.) disclosed to the Hong Kong Stock Exchange that on 20 May 2026 it repurchased 131,796 American depositary shares (ADSs), each representing one Class A ordinary share, on the New York Stock Exchange.

The securities were bought at prices ranging from USD22.45 to USD23.00, with a volume-weighted average cost of USD22.86, for an aggregate consideration of USD3.01 million.

Capital structure and impact: • Total issued share capital remains 769.90 million shares, comprising 563.80 million Class A and 206.10 million Class B shares. • The latest buyback represents approximately 0.02% of the total issued shares. The shares are intended for cancellation; until cancellation, they continue to be counted in the issued share total.

Buyback programme status: • Current mandate, granted on 17 June 2025, authorises repurchases of up to 80.45 million shares. • Cumulative repurchases under this mandate have reached 16.45 million shares, or 2.04% of the company’s issued share base at the time the mandate was approved. • Approximately 63.99 million shares remain available for repurchase under the existing authorisation.

Regulatory notes: • Following the repurchase, ZTO Express-W is subject to a 30-day moratorium—until 19 June 2026—on issuing new shares or transferring treasury shares without prior exchange approval. • The company confirms that all repurchase activities complied with Hong Kong Listing Rules and U.S. market regulations.