Bank of East Asia (00023) acquired 52.8 million shares from the board of directors of Sumitomo Mitsui Banking Corporation.

Bank of East Asia (00023) announced that the Board of Directors has been informed by the Executive Chairman Sir David Li and Vice Chairman Professor Benjamin Lee, as well as Sumitomo Mitsui Banking Corporation, that after the trading session on May 9, 2025, the buyer has agreed to purchase, and Sumitomo Mitsui Banking Corporation has agreed to sell, a total of 52.8 million ordinary shares of the bank at a price of HKD 9.64 per share. The bank was informed by the buyer and Sumitomo Mitsui Banking Corporation that the price was based on the volume-weighted average price of the bank's shares during the ten trading days from April 10, 2025 to April 25, 2025, with a discount of approximately 8% as agreed by the buyer and Sumitomo Mitsui Banking Corporation. The acquisition of shares represents approximately 2.00% of the total number of ordinary shares issued by the bank as of the date of the announcement. The announcement stated that Executive Chairman Sir David Li and Vice Chairman Professor Benjamin Lee expressed that the purchase of the acquired shares reflects their confidence in the bank's long-term prospects, strategic direction, and commitment to creating sustainable value for shareholders.