NaaS Technology (NAAS) Announces $10M Share Buyback

NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announced that its board of directors (the "Board") has approved a share repurchase program (the "Share Repurchase Program"), effective from February 21, 2025. Pursuant to the Share Repurchase Program, the Company may repurchase up to US$10 million of its American depositary shares ("ADSs") over the next 12 months through the end of February 2026.

The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Board will review the share repurchase program periodically, and may authorize adjustment of its terms and size.

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