Alibaba Group Holding Limited - Adjustment to Convertible Senior Notes Conversion Rates

Alibaba Group Holding Limited announced adjustments to the conversion rates of its Convertible Senior Notes due 2031 and 2032. These adjustments, effective June 11, 2026, are a result of the declaration of the 2026 Dividend. The conversion rate for the 2031 notes increased from 9.8915 ADSs per US$1,000 to 9.9823 ADSs per US$1,000, and the maximum conversion rate increased from 12.8589 ADSs per US$1,000 to 12.9770 ADSs per US$1,000. Consequently, the maximum number of ordinary shares issuable upon conversion of the 2031 notes increased from 514,360,000 to 519,056,000. For the 2032 notes, the conversion rate adjusted from 5.1773 ADSs per US$1,000 to 5.2248 ADSs per US$1,000, and the maximum conversion rate adjusted from 6.7953 ADSs per US$1,000 to 6.8577 ADSs per US$1,000. This results in an increase in the number of ordinary shares issuable upon conversion of the 2032 notes from 131,213,488 to 132,417,328. Applications will be made to the Hong Kong Stock Exchange for the listing of these additional ordinary shares. The terms and conditions of the notes remain otherwise unchanged.