Tencent Music Entertainment Group

In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Other gains, net Six months ended June 30, 2025 2026 RMB million RMB million Gain on deemed disposal (note i) 2,373 Dividends from investments 92 107 Government grants and tax rebates (note ii) 20 53 Fair value changes of consideration liabilities related to acquisition (note 25) 28 Fair value change of investments 39 11 Net gains in relation to equity investments 3 2 Others (note iii) 44 17 2,571 218 Note i: As at December 31, 2024, the Group held 10 % equity interest in a consortium led by Tencent and the consortium held 20 % equity interest in Universal Music Group( UMG ).

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Additionally, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Dividends from TME Hong Kong is not subject to Hong Kong profits tax.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

(iv) Withholding tax Under the current CIT Law, dividends for earnings derived from January 1, 2008 and onwards paid by PRC entities to any of their foreign non-resident enterprise investors are subject to a 10 % withholding tax.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Under the tax arrangement between the PRC and Hong Kong, the reduced withholding tax rate for dividends paid by PRC entities is 5 % provided the Hong Kong investors meet the requirements as stipulated by relevant PRC tax regulations, such as the beneficiary owner test.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision makers, who are responsible for allocating resources and assessing performance of the operating segments and making strategic decisions.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

(b) Restricted cash As at June 30, 2026, restricted cash held at banks of RMB 8 million (December 31, 2025: RMB 15 million) were mainly denominated in RMB, representing restricted deposits used as security against certain lawsuits.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

Effective for annual periods beginning on or after IFRS 18 Presentation and Disclosure in Financial Statements January 1, 2027 IFRS 19 Subsidiaries without Public Accountability: Disclosures January 1, 2027 Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures January 1, 2027 Amendments to IAS 21 Translation to a Hyperinflationary Presentation Currency January 1, 2027 Amendments to IAS 36, IFRS 18, IAS 1, IAS 37, IAS 8, IFRS 7 Disclosures about Uncertainties in the Financial Statements - Illustrative examples January 1, 2027 IFRS 20 Regulatory Assets and Regulatory-Liabilities January 1, 2029 4.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026

In preparing the Interim Financial Information, the nature of significant judgments made by management in applying the Group s accounting policies and the key sources of estimation uncertainty were consistent with those described in the 2025 Financial Statements.

SEC original ↗Tencent Music Entertainment Group — Earnings release (6-K exhibit)EX-99Sep 1, 2026