NetEase Cloud Music Inc. (9899) announced on 2 March 2026 the grant of 649,127 Awards to 379 employee participants and 19,846 Awards to five related entity participants under its 2022 Restricted Share Unit Plan. The closing price on the grant date was HK$148.00 per Share, and the purchase price per Award Share is nil. Each grant vests evenly over a three-year period starting from 1 March 2026, subject to performance thresholds. A clawback mechanism applies in cases of misconduct or breach, and Grantees gain no shareholder rights until the Awards vest.

After this grant, 10,462,280 (10.46 million) new Shares remain available for future grants under the 2022 Plan. According to the announcement, none of the Grantees exceed the individual 1% limit prescribed under Chapter 17 of the Listing Rules, and the Company does not provide financial assistance to facilitate the purchase of Award Shares.