The board of Tencent Holdings Limited (SEHK:700) intend to spin-off 15.5% stake in Meituan (SEHK : 3690) on November 16, 2022. Tencent has resolved to declare a special interim dividend in the form of a distribution in specie of approximately 958,121,562 Class B ordinary shares of Meituan to the Shareholders in proportion to their then respective shareholdings in the Company on the basis of 1 Class B ordinary share of Meituan for every 10 Shares held by the Qualifying Shareholders, being rounded down to the nearest whole number of Meituan Shares. The exact number of Meituan Shares to be distributed by the Company is subject to such possible adjustments arrangements in relation to the Distribution in Specie. Non-Qualifying Shareholders will not be entitled to receive the Meituan Shares and will instead receive cash-in-lieu payments in respect of the Shares held by them on the basis of 1 Class B ordinary share of Meituan for every 10 Shares held on the Record Date. The Record Date for determining a Shareholder's entitlements to the Distribution in Specie is January 10, 2023. The Record Date for determining a Shareholder's entitlements to the Distribution in Specie is January 31, 2023. The board of directors of Tencent Holdings Limited will conduct Board meeting on March 22, 2023. It is expected that share certificates for the relevant Meituan Shares will be dispatched on or about March 24, 2023.

The board of Tencent Holdings Limited (SEHK:700) completed the spin-off 15.5% stake in Meituan (SEHK : 3690) on March 24, 2023.