Initial Statement of Beneficial Ownership

Judy Qing Ye, a director at GDS Holdings Ltd, has filed an initial statement of beneficial ownership. The filing, dated March 16, 2026, reports 36,254 American Depositary Shares (ADSs) beneficially owned, all of which are held directly. Each ADS represents eight Class A ordinary shares. The reported total includes the settlement of fully vested Restricted Stock Unit (RSU) awards that were subject to both time and performance conditions. Each RSU represents the right to receive one ADS. The reporting owner, Judy Qing Ye, resides in Shanghai, China.