Form SCHEDULE 13G/A Tencent Music Entertainm Filed by: Tencent Holdings Ltd

For both Min River and Tencent Holdings: 29/F., Three Pacific Place No. 1 Queen's Road East Wanchai, Hong Kong

Min River - The British Virgin Islands Tencent Holdings -The Cayman Islands

Min River beneficially owns 1,640,456,882 Class B Ordinary Shares, each of which is freely convertible into one Class A Ordinary Share at the discretion of Min River. In addition, Min River may be deemed to beneficially own 18,581,530 Class A Ordinary Shares that are held by certain minority shareholders of the Issuer, the voting power of which is vested with Min River pursuant to certain share subscription agreement entered into by and among the Issuer, Min River and each of these minority shareholders. Min River disclaims the pecuniary interests in the foregoing 18,581,530 Class A Ordinary Shares held by those minority shareholders. Tencent Holdings may be deemed to beneficially own 1,817,399,419 Class A Ordinary Shares, consisting of (i) 1,640,456,882 Class B Ordinary Shares held by Min River, a wholly-owned subsidiary of Tencent Holdings, each of which is freely convertible into one Class A Ordinary Share at the discretion of Min River; (ii) 18,581,530 Class A Ordinary Shares held by certain minority shareholders of the Issuer, the voting power of which is vested with Min River pursuant to certain share subscription agreement entered into by and among the Issuer, Min River and each of these minority shareholders; (iii) 14,715,952 Class A Ordinary Shares held by Image Frame Investment (HK) Limited, a wholly-owned subsidiary of Tencent Holdings; (iv) 2,229,706 Class A Ordinary Shares held by Cloudary Holdings Limited, whose parent company China Literature Limited is a majority-owned subsidiary of Tencent Holdings; and (v) 141,415,349 Class A Ordinary Shares (representing 50% of the 282,830,698 Class A Ordinary Shares held by Spotify AB, an affiliate of Spotify Technology S.A. ("Spotify")), the voting power of which is vested with Tencent Holdings pursuant to certain investor agreement dated December 15, 2017, entered into by and among Tencent Holdings, Spotify, and certain other parties thereto (the "Spotify Investor Agreement"), and the voting undertaking dated December 8, 2017, delivered by Tencent Holdings to certain parties thereto (the "Tencent Voting Undertaking"). Under the Spotify Investor Agreement, Spotify granted Tencent Holdings a sole and exclusive right to vote all securities of the Issuer beneficially owned by Spotify and its affiliates; however, under the Tencent Voting Undertaking, Tencent Holdings is required to vote 50% of such securities subject to such proxy in proportion to the votes cast for and against by certain non-Spotify shareholders. Tencent Holdings disclaims the pecuniary interests in the foregoing 18,581,530 Class A Ordinary Shares held by those minority shareholders, and the foregoing 282,830,698 Class A Ordinary Shares held by Spotify AB.

See row 11 of the cover page of each reporting person. The foregoing calculation is based on an aggregate of 3,277,111,937 Class A Ordinary Shares outstanding, which is the sum of (i) 1,636,655,055 Class A Ordinary Shares outstanding as of June 30, 2026 based on information provided by the Issuer; and (ii) 1,640,456,882 Class B Ordinary Shares held by Min River, each of which is freely convertible into one Class A Ordinary Share at the discretion of Min River.  %

See row 5 of the cover page for each reporting person.

See row 6 of the cover page of each reporting person.

See row 7 of the cover page of each reporting person.

See row 8 of the cover page of each reporting person.