Kuaishou Technology : PROPOSED GRANTING OF GENERAL MANDATES TO REPURCHASE SHARES AND TO ISSUE SHARES, PROPOSED RE-ELECTION OF THE RETIRING DIRECTORS, PROPOSED RE-APPOINTMENT OF AUDITOR AND NOTICE OF THE ANNUAL GENERAL MEETING

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

If you are in any doubt as to any aspect of this circular or as to the action to be taken, you should consult a stockbroker or other registered dealer in securities, a bank manager, solicitor, professional accountant or other professional adviser.

If you have sold or transferred all your shares in Kuaishou Technology, you should at once hand this circular, together with the enclosed form of proxy, to the purchaser or transferee or to the bank, stockbroker or other agent through whom the sale was effected for transmission to the purchaser or transferee.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular.

Kuaishou Technology

快手科技

(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)

(Stock Code: 1024)

PROPOSED GRANTING OF GENERAL MANDATES TO REPURCHASE SHARES AND TO ISSUE SHARES AND

PROPOSED RE-ELECTION OF THE RETIRING DIRECTORS

AND

PROPOSED RE-APPOINTMENT OF AUDITOR

AND

NOTICE OF THE ANNUAL GENERAL MEETING

A notice convening the AGM of Kuaishou Technology (快手科技) to be held at Building W, No. 6 Shangdi West Road, Haidian District, Beijing, the PRC on Friday, May 28, 2021 at 2:00 p.m. is set out on pages 22 to 26 of this circular. A form of proxy for use at the AGM is also enclosed, and published on the websites of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Company (www.kuaishou.com).

Whether or not you are able to attend the AGM, please complete and sign the enclosed form of proxy in accordance with the instructions printed thereon and return it to the Company's Hong Kong share registrar, Computershare Hong Kong Investor Services Limited at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong, as soon as possible, but in any event not less than 48 hours before the time appointed for holding the meeting (i.e. not later than 2:00 p.m. on Wednesday, May 26, 2021) or any adjournment thereof (as the case may be). Completion and return of the form of proxy will not preclude you from attending and voting in person at the AGM or any adjourned meeting should you so wish. If you attend and vote at the AGM, the form of proxy that you have completed and returned will be revoked.

Reference to time and dates in this circular are to Hong Kong time and dates.

April 28, 2021

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DEFINITIONS

In this circular, unless the context otherwise requires, the following expressions have the following meanings:

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LETTER FROM THE BOARD

Kuaishou Technology

快手科技

(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)

PROPOSED GRANTING OF GENERAL MANDATES TO REPURCHASE SHARES AND TO ISSUE SHARES AND

PROPOSED RE-ELECTION OF THE RETIRING DIRECTORS

AND

PROPOSED RE-APPOINTMENT OF AUDITOR

AND

NOTICE OF THE ANNUAL GENERAL MEETING

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LETTER FROM THE BOARD

1. INTRODUCTION

The purpose of this circular is to provide you with information in relation to the following resolutions to be proposed at the AGM to consider and, if thought fit, approve:

1. the proposed granting of the Share Repurchase Mandate;
2. the proposed granting of the Share Issue Mandate (including the extended Share Issue Mandate);
3. the proposed re-election of the retiring Directors; and
4. the proposed re-appointment of auditor.

2. PROPOSED GRANTING OF GENERAL MANDATE TO REPURCHASE SHARES

On January 18, 2021, a resolution was passed by the then Shareholders to grant a general unconditional mandate to the Board and/or its authorized person(s) to exercise the powers of the Company to repurchase its own Shares. Such mandate, to the extent not renewed, revoked or varied by the date of the AGM, will lapse at the conclusion of the AGM.

In order to give the Company the flexibility to repurchase Shares if and when appropriate, an ordinary resolution will be proposed at the AGM for the Shareholders to consider and, if thought fit, grant to the Board and/or its authorized person(s) the Share Repurchase Mandate, details of which are set out in the proposed ordinary resolution no. 6 in the notice of the AGM. As at the Latest Practicable Date, the issued share capital of the Company comprised 766,237,001 Class A Shares and 3,392,695,036 Class B Shares. Subject to the passing of the ordinary resolution for the approval of the Share Repurchase Mandate and on the basis that no further Shares are issued or repurchased between the Latest Practicable Date and the date of the AGM, the Company would be allowed under the Share Repurchase Mandate to purchase a maximum of 415,893,203 Shares.

The Share Repurchase Mandate shall continue to be in force during the period from the date of passing the resolution for the approval of the Share Repurchase Mandate until whichever is the earliest of: (a) the conclusion of the next annual general meeting of the Company; (b) the expiration of the period within which the next annual general meeting of the Company is required by the Articles of Association or by any applicable laws to be held; and (c) the date on which the authority given under the ordinary resolution approving the Share Repurchase Mandate is revoked or varied by an ordinary resolution of the Shareholders.

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LETTER FROM THE BOARD

In accordance with the requirements of the Listing Rules, the Company is required to send to the Shareholders an explanatory statement containing the requisite information reasonably necessary for them to make an informed decision on whether to vote for or against the granting of the Share Repurchase Mandate. The explanatory statement as required by the Listing Rules in connection with the Share Repurchase Mandate is set out in Appendix I to this circular.

3. PROPOSED GRANTING OF GENERAL MANDATE TO ISSUE SHARES

On January 18, 2021, a resolution was passed by the then Shareholders to grant a general unconditional mandate to the Board and/or its authorized person(s) to allot, issue and deal with Class B Shares. Such mandate, to the extent not renewed, revoked or varied by the date of the AGM, will lapse at the conclusion of the AGM.

In order to give the Company the flexibility to issue Shares if and when appropriate, an ordinary resolution will be proposed at the AGM for the Shareholders to consider and, if thought fit, grant to the Board and/or its authorized person(s) the Share Issue Mandate, details of which are set out in the proposed ordinary resolution no. 7 in the notice of the AGM. As at the Latest Practicable Date, the issued share capital of the Company comprised 766,237,001 Class A Shares and 3,392,695,036 Class B Shares. Subject to the passing of the ordinary resolution for the approval of the Share Issue Mandate and on the basis that no further Shares are issued or repurchased between the Latest Practicable Date and the date of the AGM, the Company would be allowed under the Share Issue Mandate to allot, issue and deal with a maximum of 831,786,407 Class B Shares.

In addition, a separate ordinary resolution no. 8 will also be proposed to approve the extension of the Share Issue Mandate by adding the number of repurchased Shares under the Share Repurchase Mandate to the total number of Class B Shares which may be allotted and issued by the Board and/or its authorized person(s) pursuant to the Share Issue Mandate.

The Share Issue Mandate (including the extended Share Issue Mandate) shall continue to be in force during the period from the date of passing the resolution for the approval of the Share Issue Mandate (including the extended Share Issue Mandate) until whichever is the earliest of: (a) the conclusion of the next annual general meeting of the Company; (b) the expiration of the period within which the next annual general meeting of the Company is required by the Articles of Association or by applicable laws to be held; and (c) the date on which the authority given under the ordinary resolution approving the Share Issue Mandate (including the extended Share Issue Mandate) is revoked or varied by an ordinary resolution of the Shareholders.

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LETTER FROM THE BOARD

4. PROPOSED RE-ELECTION OF THE RETIRING DIRECTORS

Pursuant to the Articles of Association, at every general meeting of the Company, one-third of the Directors for the time being (or, if their number is not three or a multiple of three, then the number nearest to, but not less than, one-third) shall retire from office by rotation provided that every Director (including those appointed for a specific term) shall be subject to retirement by rotation at least once every three years. Accordingly, Mr. Su Hua, Mr. Cheng Yixiao and Mr. Zhang Fei shall retire by rotation at the AGM and, being eligible, have offered themselves for re-election at the AGM.

The Nomination Committee has reviewed the structure and composition of the Board, the confirmations and disclosures given by the Directors, the qualifications, skills and experience, and contribution of the retiring Directors with reference to the Company's Board Diversity Policy and the Company's corporate strategies. The Nomination Committee has recommended to the Board on re-election of all the retiring Directors at the AGM. The Board has considered the perspectives, skills, experience and diversity of the above retiring Directors and believed that their professional knowledge and general business acumen will continue to generate significant contribution to the Board, the Company and the Shareholders as a whole. Hence, the Board recommended the above retiring Directors to be re-elected at the AGM and to authorize the Board to fix the respective remuneration for such Directors.

Biographical details of the retiring Directors proposed to be re-elected at the AGM are set out in Appendix II to this circular.

5. PROPOSED RE-APPOINTMENT OF AUDITOR

Following the recommendation of the audit committee of the Board, the Board proposed to re-appoint PricewaterhouseCoopers as the auditor of the Company with a term expiring upon the next annual general meeting of the Company, and the Board proposed it be authorized to fix the remuneration of the auditor for the year ending December 31, 2021.

An ordinary resolution in respect of the re-appointment of the auditor of the Company will be proposed at the AGM for consideration and approval by the Shareholders.

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LETTER FROM THE BOARD

6. AGM AND PROXY ARRANGEMENT

The notice of the AGM is set out on pages 22 to 26 of this circular. At the AGM, resolutions will be proposed to approve, among others, (i) the proposed granting of the Share Repurchase Mandate; (ii) the proposed granting of the Share Issue Mandate (including the extended Share Issue Mandate); (iii) the proposed re-election of the retiring Directors; and (iv) the proposed re-appointment of auditor.

Pursuant to the Listing Rules, any vote of shareholders at a general meeting must be taken by poll. Accordingly, all the proposed resolutions will be put to vote by way of poll at the AGM. An announcement on the poll results will be made by the Company after the AGM in the manner prescribed under Rule 13.39(5) of the Listing Rules.

The Company is controlled through weighted voting rights. Holders of Class B Shares present in person (in the case of a member being a corporation, by its duly authorized representative) or by proxy shall have one vote per Share. Holders of Class A Shares present in person (in the case of a member being a corporation, by its duly authorized representative) or by proxy shall have 10 votes per Share (i.e. resolutions nos. 1 to 8 in the notice of the AGM), save for resolutions with respect to any Reserved Matters, in which case they shall have one vote per Share (i.e. resolution no. 9, regarding the proposed re-appointment of auditor, in the notice of the AGM). Holders of Class B Shares and Class A Shares shall at all times vote together as one class.

A form of proxy for use at the AGM is enclosed with this circular and such form of proxy is also published on the websites of the Stock Exchange (www.hkexnews.hk) and the Company (www.kuaishou.com). Whether or not you are able to attend the AGM, please complete and sign the form of proxy in accordance with the instructions printed thereon and return it, together with the power of attorney or other authority (if any) under which it is signed, or a notarially certified copy of that power of attorney or authority, to the Company's share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited, at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong, as soon as possible but in any event not less than 48 hours before the time appointed for holding the AGM (i.e. not later than 2:00 p.m. on Wednesday, May 26, 2021) or any adjournment thereof. Completion and delivery of the form of proxy will not preclude you from attending and voting at the AGM if you so wish and in such event, your proxy form shall be deemed to be revoked.

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LETTER FROM THE BOARD

7. RECOMMENDATION

The Directors (including independent non-executive Directors) are of the opinion that all the proposed resolutions are in the interests of the Company and the Shareholders as a whole and so recommend the Shareholders to vote in favour of all the resolutions to be proposed at the AGM.

Yours faithfully,

By order of the Board

Kuaishou Technology

Mr. Su Hua

Chairman

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APPENDIX I EXPLANATORY STATEMENT FOR THE SHARE REPURCHASE MANDATE

The following is an explanatory statement required by the Listing Rules to be sent to the Shareholders to enable them to make an informed decision on whether to vote for or against the ordinary resolution no. 6 to be proposed at the AGM in relation to the granting of the Share Repurchase Mandate.

1. REASONS FOR REPURCHASE OF SHARES

The Directors believe that the granting of the Share Repurchase Mandate is in the interests of the Company and the Shareholders as a whole.

Repurchases of Shares may, depending on the market conditions and funding arrangements at the time, lead to an enhancement of the net asset value per Share and/or earnings per Share. The Directors are seeking the granting of the Share Repurchase Mandate to give the Company the flexibility to do so if and when appropriate. The number of Shares to be repurchased on any occasion and the price and other terms upon which the same are repurchased will be decided by the Board and/or its authorized person(s) at the relevant time, having regard to the circumstances then pertaining.

2. SHARE CAPITAL

As at the Latest Practicable Date, the issued share capital of the Company comprised 4,158,932,037 Shares, out of which 766,237,001 were Class A Shares and 3,392,695,036 were Class B Shares.

Subject to the passing of the ordinary resolution set out in no. 6 of the notice of the AGM in respect of the granting of the Share Repurchase Mandate and on the basis that the issued share capital of the Company remains unchanged as at the date of the AGM, i.e. being 4,158,932,037 Shares, the Board and/or its authorized person(s) would be authorized under the Share Repurchase Mandate to repurchase, during the period in which the Share Repurchase Mandate remains in force, up to a maximum of 415,893,203 Shares, representing 10% of the total number of Shares in issue as at the date of the AGM.

3. FUNDING OF REPURCHASES

Repurchases of Shares will be funded from the Company's internal resources, which shall be funds legally available for such purpose in accordance with the Articles of Association, the Listing Rules, the applicable laws of the Cayman Islands and/or any other applicable laws, as the case may be.

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APPENDIX I EXPLANATORY STATEMENT FOR THE SHARE REPURCHASE MANDATE

4. IMPACT OF REPURCHASES

There might be a material adverse impact on the working capital or gearing position of the Company (as compared with the position disclosed in the audited accounts contained in the annual report of the Company for the year ended December 31, 2020) in the event that the Share Repurchase Mandate was to be carried out in full at any time during the proposed repurchase period. However, the Board and/or its authorized person(s) does not intend to exercise the Share Repurchase Mandate to such an extent as would, in the circumstances, have a material adverse effect on the working capital requirements of the Company or its gearing levels which, in the opinion of the Board and/or its authorized person(s), are from time to time appropriate for the Company.

5. EFFECT OF TAKEOVERS CODE AND PUBLIC FLOAT

If, on the exercise of the power to repurchase Shares pursuant to the Share Repurchase Mandate, a Shareholder's proportionate interest in the voting rights of the Company increases, such increase will be treated as an acquisition of voting rights for the purposes of the Takeovers Code. Accordingly, a Shareholder or a group of Shareholders acting in concert (as defined under the Takeovers Code) could obtain or consolidate control of the Company and thereby become obliged to make a mandatory offer in accordance with Rule 26 of the Takeovers Code.

As at the Latest Practicable Date, to the best knowledge and belief of the Directors, the WVR Beneficiaries were Mr. Su Hua and Mr. Cheng Yixiao. Mr. Su Hua is deemed to be interested in 427,469,521 Class A Shares and 54,713,783 Class B Shares, representing approximately 11.59% of the voting rights in the Company with respect to shareholder resolutions relating to Reserved Matters, and approximately 39.16% with respect to matters other than the Reserved Matters; and Mr. Cheng Yixiao is deemed to be interested in 338,767,480 Class A Shares and 43,770,873 Class B Shares, representing approximately 9.20% of the voting rights in the Company with respect to shareholder resolutions relating to Reserved Matters, and approximately 31.04% with respect to matters other than the Reserved Matters. Pursuant to Rule 8A.15 of the Listing Rules, in the event that the Board and/or its authorized person(s) exercises the Share Repurchase Mandate, the WVR Beneficiaries must reduce their weighted voting rights in the Company proportionately (for example through conversion of a proportion of their shareholding with those rights into Class B Shares), if the reduction in the number of Shares in issue would otherwise result in an increase in the proportion of Class A Shares. As such, to the best knowledge and belief of the Directors, the exercise of the Share Repurchase Mandate is not expected to give rise to an obligation of Mr. Su Hua and Mr. Cheng Yixiao to make a mandatory offer under the Takeovers Code.

The Board and/or its authorized person(s) has no present intention to repurchase the Shares to the extent that will trigger the obligations under the Takeovers Code to make a mandatory offer. The Directors are not aware of any other consequences which may arise under the Takeovers Code as a result of any purchase by the Company of its Shares.

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APPENDIX I EXPLANATORY STATEMENT FOR THE SHARE REPURCHASE MANDATE

In addition, the Board and/or its authorized person(s) does not propose to repurchase Shares which would result in less than the relevant prescribed minimum percentage of Shares in public hands as required by the Stock Exchange.

6. INTENTION OF DIRECTORS AND CORE CONNECTED PERSONS TO SELL SHARES

None of the Directors or, to the best of their knowledge, having made all reasonable enquiries, any of their respective close associates (as defined in the Listing Rules) have any present intention to sell any Shares to the Company in the event that the granting of the Share Repurchase Mandate is approved by the Shareholders.

The Company has not been notified by any core connected persons (as defined in the Listing Rules) of the Company that they have a present intention to sell any Shares to the Company, or that they have undertaken not to sell any Shares held by them to the Company in the event that the granting of the Share Repurchase Mandate is approved by the Shareholders.

7. UNDERTAKING BY DIRECTORS

The Directors have undertaken to the Stock Exchange to exercise the power of the Company to make repurchases of Shares pursuant to the Share Repurchase Mandate in accordance with the Listing Rules and the applicable laws of the Cayman Islands.

8. MARKET PRICES OF SHARES

The highest and lowest prices per Share at which the Class B Shares have been traded on the Stock Exchange during each of the following months from the Listing Date and up to and including the Latest Practicable Date were as follows:

9. REPURCHASES OF SHARES MADE BY THE COMPANY

No repurchase of Shares has been made by the Company during the period from the Listing Date up till the Latest Practicable Date (whether on the Stock Exchange or otherwise).

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Pursuant to the Listing Rules, the details of the Directors, who will retire and being eligible, offer themselves for re-election at the AGM, are provided below.

1. Mr. Su Hua (宿華先生)
   Position and experience

Mr. Su Hua, aged 38, is the co-founder, executive Director, chairman of the Board and Chief Executive Officer. He is also a member of the remuneration committee of the Company. Mr. Su currently holds directorships in certain subsidiaries of the Group. Mr. Su is primarily responsible for making strategic and pivotal decisions of the Group, including strategic direction, business management, innovation, technology, research and development, corporate culture, publicity, governmental affairs, finance, legal, commercialization, talent acquisition, and overseas development. He has been actively involved in the Group's products and services, the maintenance and development of the Group's ecosystem and new business incubation. Mr. Su has also been responsible for strategic investments and acquisitions and actively involved in the Group's investment strategies, allowing the Group to forge close relationships with investee companies to create synergies across our ecosystem.

Prior to joining the Group, Mr. Su worked as an engineer at Google China from December 2006 to October 2008, and Baidu, Inc. (a company listed on Nasdaq with stock symbol of BIDU with its secondary listing on the Stock Exchange with stock code of 9888) from January 2010 to May 2011. In November 2013, Mr. Su joined our Group and has been serving as the Chief Executive Officer since then.

Mr. Su received his bachelor's degree in computer software from the School of Software, Tsinghua University in Beijing, the PRC, in July 2005.

Mr. Su has not held other directorships in the last three years in public companies the securities of which are listed on any securities market in Hong Kong or overseas.

Length of service

Mr. Su entered into a service contract with the Company pursuant to which he agreed to act as an executive Director for a period of three years or until the third annual general meeting of the Company after the Listing Date, whichever is earlier. He is also subject to retirement and re-election at annual general meeting of the Company in accordance with the Articles of Association.

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Relationships

As far as the Directors are aware and as at the Latest Practicable Date, Mr. Su does not have any relationships with other Directors, senior management, substantial Shareholders (as defined in the Listing Rules) or controlling Shareholders (as defined in the Listing Rules) of the Company.

Interests in Shares

As far as the Directors are aware and as at the Latest Practicable Date, Mr. Su was interested or deemed to be interested in the following Shares or underlying Shares of the Company and its associated corporations pursuant to Part XV of the SFO as set out below:

1. Interests in the Company

Notes:

1. The calculation is based on the total number of relevant class of Shares in issue as at the Latest Practicable Date.
2. Reach Best Developments Limited is wholly-owned by an entity which is held by Vistra Trust (Singapore) Pte. Limited as trustee for a trust established by Mr. Su Hua (as settlor) for the benefit of Mr. Su Hua and his family. Accordingly, Mr. Su Hua is deemed to be interested in the 427,469,521 Class A Shares and 54,713,783 Class B Shares held by Reach Best Developments Limited. Mr. Su Hua is also deemed to be interested in the 5,699,103 outstanding and unexercised options underlying Class B Shares pursuant to the pre-IPO employee stock incentive scheme adopted by the Company on February 6, 2018 as amended from time to time.
3. The letter "L" denotes long position.

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Notes:

1. The calculation is based on the registered capital of Beijing One Smile Technology and Development Co., Ltd. ("Beijing One Smile") and Hangzhou Youqu Network Co., Ltd. ("Hangzhou Youqu") in issue, respectively, as at the Latest Practicable Date.
2. Beijing One Smile is a Consolidated Affiliated Entity of the Company and is owned as to (i) 32.32% by Mr. Su Hua, (ii) 25.86% by Mr. Cheng Yixiao, (iii) 23.70% by Mr. Zhang Fei, (iv) 7.40% by Mr. Yin Xin, (v) 5.54% by Mr. Yang Yuanxi and (vi) 5.18% by Mr. Hu Changjuan.
3. Hangzhou Youqu is a Consolidated Affiliated Entity of the Company and is owned as to 90% and 10% by Mr. Su Hua and Ms. Peng Xiaochun, respectively.
4. The letter "L" denotes long position.

Save as disclosed above, Mr. Su was not interested or deemed to be interested in any Shares or underlying Shares of the Company or its associated corporations pursuant to Part XV of the SFO.

Director's emoluments

Mr. Su is not entitled to receive any annual Director's fee from the Company.

Other information and matters that need to be disclosed or brought to the attention of the

Shareholders

Save as disclosed above, Mr. Su has confirmed that there is no other information required to be brought to the attention of the Shareholders and the Company or to be disclosed pursuant to Rule 13.51(2) of the Listing Rules in relation to his re-election as a Director.

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1. Mr. Cheng Yixiao (程一笑先生)
   Position and experience

Mr. Cheng Yixiao, aged 37, is the co-founder, executive Director and Chief Product Officer. Mr. Cheng is also a member of the Nomination Committee. Mr. Cheng currently holds directorship in certain subsidiaries of the Group. Mr. Cheng has been responsible for all product-related matters of the Group, including developing new apps, product iterations, creating new app features, and optimizing user interface. He has been leading the Group's new business incubation (such as e-commerce and online games) and maintenance and development of the Group's ecosystem and responsible for strategic investments and acquisitions. Mr. Cheng has also participated in formulating the Group's strategic direction and business innovation, and introducing principles of sociology and economics to the design of the Group's content recommendation algorithms.

Prior to founding the Group, Mr. Cheng was a software engineer and developer at Hewlett-Packard from August 2007 to July 2009, and worked at Renren Inc. (a company listed on the New York Stock Exchange with stock symbol of RENN) from September 2009 to February 2011. "GIF Kuaishou", the Group's original mobile app for users to create and share animated images, was launched by Mr. Cheng in 2011.

Mr. Cheng received his bachelor's degree in software engineering from the Software College of Northeastern University in Liaoning Province, the PRC, in July 2007.

Mr. Cheng has not held other directorships in the last three years in public companies the securities of which are listed on any securities market in Hong Kong or overseas.

Length of service

Mr. Cheng entered into a service contract with the Company pursuant to which he agreed to act as an executive Director for a period of three years or until the third annual general meeting of the Company after the Listing Date, whichever is earlier. He is also subject to retirement and re-election at annual general meeting of the Company in accordance with the Articles of Association.

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Relationships

As far as the Directors are aware and as at the Latest Practicable Date, Mr. Cheng does not have any relationships with other Directors, senior management, substantial Shareholders (as defined in the Listing Rules) or controlling Shareholders (as defined in the Listing Rules) of the Company.

Interests in Shares

As far as the Directors are aware and as at the Latest Practicable Date, Mr. Cheng was interested or deemed to be interested in the following Shares or underlying Shares of the Company and its associated corporation pursuant to Part XV of the SFO as set out below:

1. Interests in the Company

Notes:

1. The calculation is based on the total number of relevant class of Shares in issue as at the Latest Practicable Date.
2. Ke Yong Limited is wholly-owned by an entity which is held by Vistra Trust (Singapore) Pte. Limited as trustee for a trust established by Mr. Cheng Yixiao (as settlor) for the benefit of Mr. Cheng Yixiao and his family. Accordingly, Mr. Cheng Yixiao is deemed to be interested in the 338,767,480 Class A Shares and 43,770,873 Class B Shares held by Ke Yong Limited.
3. The letter "L" denotes long position.

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Notes:

1. The calculation is based on the registered capital of Beijing One Smile in issue as at the Latest Practicable Date.
2. Beijing One Smile is a Consolidated Affiliated Entity of the Company and is owned as to (i) 32.32% by Mr. Su Hua, (ii) 25.86% by Mr. Cheng Yixiao, (iii) 23.70% by Mr. Zhang Fei, (iv) 7.40% by Mr. Yin Xin, (v) 5.54% by Mr. Yang Yuanxi and (vi) 5.18% by Mr. Hu Changjuan.
3. The letter "L" denotes long position.

Save as disclosed above, Mr. Cheng was not interested or deemed to be interested in any Shares or underlying Shares of the Company or its associated corporations pursuant to Part XV of the SFO.

Director's emoluments

Mr. Cheng is not entitled to receive any annual Director's fee from the Company.

Other information and matters that need to be disclosed or brought to the attention of the

Shareholders

Save as disclosed above, Mr. Cheng has confirmed that there is no other information required to be brought to the attention of the Shareholders and the Company or to be disclosed pursuant to Rule 13.51(2) of the Listing Rules in relation to his re-election as a Director.

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1. Mr. Zhang Fei (張斐先生)
   Position and experience

Mr. Zhang Fei, aged 48, is a non-executive Director. He is also a member of the Nomination Committee. As a non-executive Director, Mr. Zhang, together with other members of the Board, provides oversight in respect of the formulation of business plans and strategic and major decisions of the Group.

Mr. Zhang has over 20 years of venture capital experience, with a focus in the areas of AI/cloud computing, social/digital media and entertainment, and electric vehicle/autonomous driving. He was a partner at Ceyuan Ventures (策源創投) in Beijing from 2004 to 2007, where he set up and managed a venture fund and led investments in multiple portfolios. Since January 2011, Mr. Zhang was a partner of 5Y Capital (formerly known as Morningside Venture Capital). Around 2016, he founded and has been a fund manager and the Responsible Officer of Neumann Advisory Hong Kong Limited, a Securities and Futures Commission Type 9 licensed corporation.

Mr. Zhang received his bachelor's degree of engineering in automation and control from the Shanghai Jiao Tong University in Shanghai, the PRC, in July 1994, and his MBA degree from the China Europe International Business School in Shanghai, the PRC, in May 1999.

Mr. Zhang has not held other directorships in the last three years in public companies the securities of which are listed on any securities market in Hong Kong or overseas.

Length of service

Pursuant to the appointment letter entered into between the Company and Mr. Zhang, his initial term of office is three years commencing from the date of his appointment or until the third annual general meeting of the Company since the Listing Date, whichever is earlier. He is also subject to retirement and re-election at annual general meeting of the Company in accordance with the Articles of Association.

Relationships

As far as the Directors are aware and as at the Latest Practicable Date, Mr. Zhang does not have any relationships with other Directors, senior management, substantial Shareholders (as defined in the Listing Rules) or controlling Shareholders (as defined in the Listing Rules) of the Company.

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Interests in Shares

As far as the Directors are aware and as at the Latest Practicable Date, Mr. Zhang was interested or deemed to be interested in the following Shares or underlying Shares of the associated corporation of the Company pursuant to Part XV of the SFO as set out below:

1. Interest in associated corporation

Notes:

1. The calculation is based on the registered capital of Beijing One Smile in issue as at the Latest Practicable Date.
2. Beijing One Smile is a Consolidated Affiliated Entity of the Company and is owned as to (i) 32.32% by Mr. Su Hua, (ii) 25.86% by Mr. Cheng Yixiao, (iii) 23.70% by Mr. Zhang Fei, (iv) 7.40% by Mr. Yin Xin, (v) 5.54% by Mr. Yang Yuanxi and (vi) 5.18% by Mr. Hu Changjuan.
3. The letter "L" denotes long position.

Director's emoluments

Mr. Zhang is not entitled to receive any annual Director's fee from the Company.

Other information and matters that need to be disclosed or brought to the attention of the

Shareholders

Save as disclosed above, Mr. Zhang has confirmed that there is no other information required to be brought to the attention of the Shareholders and the Company or to be disclosed pursuant to Rule 13.51(2) of the Listing Rules in relation to his re-election as a Director.

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NOTICE OF THE ANNUAL GENERAL MEETING

Kuaishou Technology

快手科技

(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)

(Stock Code: 1024)

NOTICE OF THE ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the annual general meeting of Kuaishou Technology (快 手科技) (the "Company") will be held at Building W, No. 6 Shangdi West Road, Haidian District, Beijing, the PRC on Friday, May 28, 2021 at 2:00 p.m. for the following purposes:

AS ORDINARY RESOLUTIONS

1. To receive the audited consolidated financial statements of the Company and the reports of the directors (the "Director(s)") and the auditor of the Company for the year ended December 31, 2020;
2. To re-elect Mr. Su Hua as an executive Director;
3. To re-elect Mr. Cheng Yixiao as an executive Director;
4. To re-elect Mr. Zhang Fei as a non-executive Director;
5. To authorize the board of Directors of the Company (the "Board") to fix the respective Directors' remuneration;
6. To consider and, if thought fit, pass with or without amendments, the following resolution as an ordinary resolution:
   "THAT:
7. 1. subject to paragraph (b) below, a general unconditional mandate be and is hereby given to the Board and/or its authorized person(s), during the Relevant Period (as defined below) to exercise all the powers of the Company to purchase its shares on The Stock Exchange of Hong Kong Limited or on another stock exchange recognized by the Securities and Futures Commission of Hong Kong and The Stock Exchange of Hong Kong Limited, subject to and in accordance with the applicable laws;

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NOTICE OF THE ANNUAL GENERAL MEETING

1. the total number of shares of the Company to be purchased pursuant to the approval in paragraph (a) above shall not exceed 10% of the total number of issued shares of the Company as at the date of passing this resolution (subject to adjustment in the case of any consolidation or subdivision of the shares of the Company after the passing of this resolution) and the said approval shall be limited accordingly; and
2. for the purpose of this resolution, "Relevant Period" means the period from the passing of this resolution until whichever is the earliest of:
3. 1. the conclusion of the next annual general meeting of the Company;
   2. the revocation or variation of the authority given under this resolution by ordinary resolution passed by the Company's shareholders in general meetings; and
   3. the expiration of the period within which the next annual general meeting of the Company is required by the articles of association of the Company (the "Articles of Association") or any applicable laws to be held.";

7. To consider and, if thought fit, pass with or without amendments, the following resolution as an ordinary resolution:

"THAT:

1. subject to paragraph (c) below, a general unconditional mandate be and is hereby given to the Board and/or its authorized person(s), during the Relevant Period (as defined below) to exercise all the powers of the Company to allot, issue and deal with authorized and unissued class B ordinary shares in the share capital of the Company (the "Class B Shares") or securities convertible into Class B Shares, or options, warrants or similar rights to subscribe for Class B Shares or such convertible securities of the Company and to make or grant offers, agreements and options which might require the exercise of such powers;
2. the approval in paragraph (a) above shall authorize the Board and/or its authorized person(s) to make or grant offers, agreements and options during the Relevant Period which would or might require the exercise of such powers after the end of the Relevant Period;

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NOTICE OF THE ANNUAL GENERAL MEETING

1. the total number of Class B Shares allotted or agreed conditionally or unconditionally to be allotted by the Board and/or its authorized person(s) pursuant to the approval in paragraph (a) above, otherwise than by way of Rights Issue (as defined below) or pursuant to the exercise of any subscription rights attaching to any securities which may be allotted and issued by the Company from time to time or, pursuant to the exercise of any options which may be granted or the allotment and issue of Class B Shares in lieu of the whole or part of a dividend on Class B Shares in accordance with the Articles of Association, shall not exceed 20% of the aggregate nominal value of the shares of the Company in issue as at the date of passing of this resolution (subject to adjustment in the case of any consolidation or subdivision of the shares of the Company after the passing of this resolution and the said approval shall be limited accordingly) excluding any (A) Class B Shares to be issued pursuant to (i) the exercise of share options under the Pre-IPO ESOP (as defined below), (ii) the exercise of share options under the Post-IPO Share Option Scheme (as defined below), (iii) awards under the Post-IPO RSU Scheme (as defined below), and (B) Class B Shares to be issued upon conversion of class A shares in the share capital of the Company into Class B Shares on a one to one basis;
2. for the purposes of this resolution:
   "Pre-IPOESOP" means the pre-IPO employee stock incentive scheme adopted by the Company dated February 6, 2018 as amended from time to time;
   "Post-IPOShare Option Scheme" means the post-IPO share option scheme adopted by the Company on January 18, 2021;
   "Post-IPORSU Scheme" means the post-IPO restricted share unit scheme adopted by the Company on January 18, 2021;
   "Relevant Period" means the period from the passing of this resolution until whichever is the earliest of:
3. 1. the conclusion of the next annual general meeting of the Company;
   2. the revocation or variation of the authority given under this resolution by ordinary resolution passed by the Company's shareholders in general meetings; and

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NOTICE OF THE ANNUAL GENERAL MEETING

1. the expiration of the period within which the next annual general meeting of the Company is required by the Articles of Association or any applicable laws to be held;

"Rights Issue" means an offer of shares open for a period fixed by the Directors to holders of shares of the Company or any class thereof on the register on a fixed record date in proportion to their then holdings of such shares or class thereof (subject to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to fractional entitlements or having regard to any restrictions or obligations under the laws of any relevant jurisdiction or the requirements of any recognized regulatory body or any stock exchange)."; and

1. To consider and, if thought fit, pass with or without amendments, the following resolution as an ordinary resolution:
   "THAT conditional upon the passing of the resolutions set out in items 6 and 7 of the notice convening this meeting (the "Notice"), the general mandate referred to in the resolution set out in item 7 of the Notice be and is hereby extended by the addition to the total number of shares which may be allotted and issued or agreed conditionally or unconditionally to be allotted and issued by the Board and/or its authorized person(s) pursuant to such general mandate of an amount representing the total number of shares purchased by the Company pursuant to the general mandate referred to in the resolution set out in item 6 of the Notice, provided that such amount shall not exceed 10% of the total number of the issued shares of the Company in issue as at the date of passing this resolution.".
2. To re-appoint PricewaterhouseCoopers as auditor of the Company to hold office until the conclusion of the next annual general meeting of the Company and to authorize the Board to fix their remuneration for the year ending December 31, 2021.

By order of the Board

Kuaishou Technology

Mr. Su Hua

Chairman

Hong Kong, April 28, 2021

As at the date of this Notice, the Board comprises Mr. Su Hua and Mr. Cheng Yixiao as executive Directors; Mr. Li Zhaohui, Mr. Zhang Fei, Dr. Shen Dou and Mr. Lin Frank as non-executive Directors; Mr. Wang Huiwen, Mr. Huang Sidney Xuande and Mr. Ma Yin as independent non-executive Directors.

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NOTICE OF THE ANNUAL GENERAL MEETING

Notes:

1. Any member of the Company entitled to attend and vote at this meeting is entitled to appoint another person as proxy to attend and vote instead of him/her/it. A proxy need not be a member of the Company. A member who is the holder of two or more shares of the Company may appoint any number of proxies to represent him/her/it to attend and vote on his/her/its behalf. If more than one proxy is so appointed, the appointment shall specify the number and class of shares in respect of which each such proxy is so appointed.
2. Where there are joint registered holders of any share, any one of such persons may vote at this meeting, either personally or by proxy, in respect of such share as if he/she/it were solely entitled thereto; but if more than one of such joint holders be present at the meeting personally or by proxy, that one of the said persons so present being the most or, as the case may be, the more senior shall alone be entitled to vote in respect of the relevant joint holding and, for this purpose, seniority shall be determined by reference to the order in which the names of the joint holders stand on the register of members of the Company in respect of the relevant joint holding.
3. In order to be valid, a form of proxy together with the power of attorney or other authority, if any, under which it is signed, or a notarially certified copy of that power or authority, must be deposited at the Company's share registrar in Hong Kong (i.e. Computershare Hong Kong Investor Services Limited, at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong) as soon as possible but in any event not less than 48 hours before the time appointed for holding the meeting (i.e. not later than 2:00 p.m. on Wednesday, May 26, 2021) or any adjournment thereof. Delivery of the form of proxy shall not preclude a member of the Company from attending and voting in person at the meeting and, in such event, the form of proxy shall be deemed to be revoked.
4. For determining the entitlement to attend and vote at this annual general meeting, the register of members of the Company will be closed from Tuesday, May 25, 2021 to Friday, May 28, 2021 (both days inclusive), during which period no transfer of shares of the Company will be registered. In order to be eligible to attend and vote at the 2021 AGM, all properly completed transfer forms accompanied by the relevant share certificates must be lodged with the Company's share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong, for registration not later than 4:30 p.m. on Monday, May 24, 2021.
5. References to time and dates in this Notice are to Hong Kong time and dates.

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