Zhihu Completes Additional Share Buyback, Cumulative Repurchases Reach 4.46 Million Shares

Bulletin Express08-27

Zhihu Inc. disclosed a fresh tranche of share repurchases on 27 August 2026 under its existing mandate.

Key Transaction • On 26 August 2026 (U.S. time), the company repurchased 40,688 American Depositary Shares on the New York Stock Exchange, representing 122,064 Class A ordinary shares. • Purchase price ranged between USD 1.01 and USD 1.0367 per Class A share, for an aggregate consideration of USD 0.13 million. • All repurchased shares are designated for cancellation; none will be held as treasury shares.

Capital Structure Impact • Issued share capital remains unchanged at 244.79 million Class A shares and 14.86 million Class B shares until the cancelled shares are formally removed from the register. • The latest buyback raises total shares repurchased since the 30 June 2026 mandate to 4.46 million Class A shares, equivalent to 1.75 % of the outstanding shares at the mandate date. • Zhihu is authorised to repurchase up to 25.46 million shares, leaving capacity for a further 21.00 million shares before the mandate is exhausted.

Pricing Range of Ongoing Programme Between 1 July and 26 August 2026 the company executed 40 trading-day repurchases, paying between USD 1.0261 and USD 1.1116 per Class A share. For ADS transactions, the volume-weighted price on 26 August was USD 3.0784 per ADS (each ADS equals three Class A shares).

Regulatory Notes • No new share issues or transfers of treasury shares may occur before 25 September 2026, in line with Hong Kong Main Board Rule 10.06. • The company confirms all transactions complied with both Hong Kong listing rules and domestic regulations governing repurchases on the NYSE.

The disclosure does not alter Zhihu’s total issued share count at this stage but underscores continued utilisation of its 10 % buyback authority.

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