On 24 March 2026, Hong Kong’s Takeovers Executive disclosed securities dealings in ENN Energy Holdings Limited linked to the company’s proposed privatisation by scheme of arrangement.

Morgan Stanley & Co. International plc—a Class (5) associate connected with the offeror—filed that on 23 March 2026 it executed three hedge-related transactions driven entirely by unsolicited client orders:

• Purchase: 8,700 ENN Energy ordinary shares for a total of USD 0.56 million, at prices ranging from USD 63.38 to USD 65.00 (average approximately USD 63.99).

• Sales: – 11,708 shares sold for USD 0.76 million, price range USD 63.55–65.00. – 10,600 shares sold for USD 0.67 million, price range USD 63.25–63.78.

Aggregating the two disposals, Morgan Stanley sold 22,308 shares for USD 1.43 million. Net of the purchase, the firm’s position in ENN Energy decreased by 13,608 shares, realising net proceeds of roughly USD 0.87 million.

All transactions were undertaken for Morgan Stanley’s own account and classified as hedging of Delta 1 and other equity-related products. The disclosure was made pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers in the context of ENN Energy’s ongoing privatisation process.