Hong Kong, 25 March 2026 – ENN Energy Holdings Limited is the subject of fresh disclosure under Rule 22 of the Hong Kong Code on Takeovers and Mergers. Morgan Stanley & Co., International plc (a Class (5) associate connected with the Offeror in ENN Energy’s proposed privatisation by scheme of arrangement) reported a series of derivatives transactions conducted on 24 March 2026.

Morgan Stanley executed 16 unsolicited client-facilitation trades linked to ENN Energy shares, comprising 12 purchases and 4 sales.

Key transactional metrics • Purchases: 32,800 reference securities for an aggregate consideration of roughly USD 2.08 million at prices ranging from USD 63.38 to USD 63.99 per reference security. • Sales: 4,500 reference securities for an aggregate consideration of about USD 0.29 million at prices between USD 63.43 and USD 64.27 per reference security. • Net position: a purchase of 28,300 reference securities, equating to a net cash outflow of approximately USD 1.80 million.

Trade structure and maturities • All dealings were in “other types of products” classified as derivatives. • Maturity/closing-out dates extend from 29 May 2026 to 31 December 2027, with the largest individual tranche involving 14,600 reference securities maturing on 31 December 2027.

Post-transaction holding Despite the sizeable activity, Morgan Stanley’s resultant balance in ENN Energy reference securities was reported as zero, indicating the transactions were fully offset on its own trading book.

Regulatory context The disclosure arises as ENN Energy advances its privatisation via a scheme of arrangement. Under the Takeovers Code, associates of the Offeror, including Morgan Stanley, must publicly report any dealings in the target company’s securities during the offer period.