Tencent : GRANT OF OPTIONS

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

GRANT OF OPTIONS

This announcement is made pursuant to Rule 17.06A of the Listing Rules.

The Board announces that on 2 December 2019, a total of 52,745 options to subscribe for Shares are granted under the 2017 Option Scheme, subject to acceptance of the grantees. The following are the details of the Options granted:

Date of grant:	2 December 2019
Exercise price of Options granted:	Each Option shall entitle the holder to
	subscribe for one Share upon exercise
	of such Option at an exercise price of
	HK$335.84 per Share
Number of Options granted:	52,745
Closing price of the Share on	HK$333 per Share
the date of grant:
Validity period of Options:	Until the last day of the 7-year period
	after the date of grant of Options

None of the grantees of the aforesaid options granted is a director, chief executive or substantial shareholder of the Company, nor an associate (as defined under the Listing Rules) of any of them.

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DEFINITION

In this announcement, unless the context otherwise requires, the following expressions shall have the following meanings:

TermDefinition

"2017 Option Scheme"

"Board"

"Company"

share option scheme of the Company adopted on 17 May 2017

the board of directors of the Company

Tencent Holdings Limited, a limited liability company organised and existing under the laws of the Cayman Islands and whose Shares are listed on the Stock Exchange

"HK$"

"Hong Kong"

• Listing Rules"
• Option(s)"
• Share(s)"

Hong Kong dollars, the lawful currency of Hong Kong

the Hong Kong Special Administrative Region of the People's Republic of China

the Rules Governing the Listing of Securities on the Stock Exchange

share option(s) to subscribe for Share(s) to be granted under the 2017 Option Scheme

ordinary share(s) of HK$0.00002 each in the share capital of the Company (or of such other nominal amount as shall result from a sub-division, consolidation, reclassification or reconstruction of the share capital of the Company from time to time)

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"Stock Exchange"The Stock Exchange of Hong Kong Limited

By Order of the Board

Ma Huateng

Chairman

2 December 2019

As at the date of this announcement, the directors of the Company are:

Executive Directors:

Ma Huateng and Lau Chi Ping Martin;

Non-Executive Directors:

Jacobus Petrus (Koos) Bekker and Charles St Leger Searle; and

Independent Non-Executive Directors:

Li Dong Sheng, Iain Ferguson Bruce, Ian Charles Stone, Yang Siu Shun and Ke Yang.

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