Tencent Music (TME) Comments on Administrative Penalty Decision of Anti-Monopoly Matter

Tencent Music Entertainment Group (the “Company” or “TME”) (NYSE: TME) announced that the State Administration for Market Regulation of the People’s Republic of China issued an Administrative Penalty Decision (the “Decision”) to Tencent Holdings Limited (“Tencent”), the controlling shareholder of TME, regarding Tencent’s acquisition of China Music Corporation.

TME accepts the Decision with sincerity and is committed to complying with all requirements set forth in the Decision fully and in a timely manner. Pursuant to the Decision, TME shall implement a rectification plan to, among other things, terminate exclusive music copyright licensing arrangements within 30 days from the date of the Decision. TME shall also discontinue any arrangement where it offers high advance licensing payment to and seeks preferential licensing terms from copyright owners without reasonable grounds.

We are committed to improving our operations in strict compliance with all laws and regulations and strengthening our compliance system, with a view to fostering innovation, fulfilling our social responsibilities, providing users with better services, and promoting the long-term, healthy development of the digital music industry.

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