Zhihu Inc. Reports Additional Share Buyback; Cumulative Repurchases Reach 7.95 Million Class A Shares

Bulletin Express10-09

Zhihu Inc. (referred to as “Zhihu”) has filed a Next Day Disclosure Return detailing continued execution of its share‐repurchase programme authorised on 30 June 2026.

Key highlights:

• Capital structure unchanged: As of 8 October 2026, Zhihu’s issued share capital remains at 244.79 million Class A ordinary shares and 14.86 million Class B ordinary shares, totalling 259.65 million shares. No treasury shares are held.

• Latest buyback: On 8 October 2026 (U.S. time), Zhihu repurchased 191,037 Class A shares on the New York Stock Exchange at prices between USD 1.1333 and USD 1.1633 per share, for an aggregate consideration of USD 0.22 million. The volume-weighted average price was approximately USD 1.15 per share. These shares are intended for cancellation.

• Cumulative activity under 2026 mandate: From 1 July to 8 October 2026, Zhihu has bought back 7.95 million Class A shares, equivalent to 3.12 % of the company’s issued share base as at the mandate date. The authorisation allows repurchases of up to 25.46 million shares.

• Post‐repurchase restriction: In line with Hong Kong Listing Rules, Zhihu is subject to a moratorium on issuing new shares or disposing of treasury shares until 7 November 2026.

The company confirmed that all repurchases were conducted in compliance with Hong Kong Stock Exchange regulations and U.S. securities rules governing transactions on the New York Stock Exchange.

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