Anta (2020) announces that, the company and Dennis J. Wilson, as the subscriber, entered into the Subscription Agreement pursuant. The subscriber will subscribe 15.84 million shares at the price of HK$49.11 per share. The subscribed shares represent approximately 0.59% of the issued share capital of the company at the date of the agreement; and 0.59% of the issued share capital of the Company as enlarged by the allotment and issuance of the subscribed shares. The net proceeds are estimated to be approximately HK$778 million, which is intended to be used for operational capital and general corporate purposes.

The subscription price represents a discount of approximately 1.19% to the closing price of HK$49.7 per share on the last trading day before the agreement was made; a discount of approximately 0.89% to the average closing price of HK$49.55 per share for the last five consecutive trading days before the agreement was made; a discount of approximately 2.02% to the average closing price of HK$50.13 per share for the last ten consecutive trading days before the agreement was made; and a premium of approximately 4.60% to the closing price of HK$46.95 per share on the last trading day.

Dennis J. Wilson is the founder of lululemon, while he also is a substantial shareholder of Mascot JVCo. Anta owns 57.95% interests of Mascot JVCo; as such Mascot JVCo is a subsidiary of Anta.

Responding media reports concerning short-seller Blue Orca Capital's suggestion to sell Anta's stock, the company vigorously denies the speculations in the reports and considers them to be inaccurate and misleading. The relevant allegations may be intended specifically to undermine confidence in the company and its management, and to harm its reputation. The company also reserves its right to take legal action against Blue Orca Capital and/or those responsible for the relevant allegations.