FORM 2 - Corporate Substantial Shareholder Notice
 
Form Serial Number: CS20261005E00291 
1. Date of relevant event: 29/09/2026
(dd/mm/yyyy)
2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later):
(dd/mm/yyyy)
3. Stock code: 09988
4. Name of listed corporation: Alibaba Group Holding Ltd. - W 
5. Class of shares: Ordinary Shares 
6. Number of issued shares in class: 19,901,959,514
7. Name of substantial shareholder: Citigroup Inc. 
8. Registered office: 388 Greenwich Street, New York, 10013, USA
9. Principal place of business in Hong Kong: 50/F, Champion Tower, 3 Garden Road, Central, Hong Kong 
15. Exchange on which listed: NYSE
16. Name of listed parent and exchange on which parent is listed:  
17. Details of relevant event:
  Brief description of relevant event Capacity in which shares were/are held Number of shares bought/sold or involved Currency of transaction On Exchange Off Exchange
Before relevant event After relevant event Highest price (per share) Average price (per share) Average consideration (per share) Nature of consideration
Long position
Short position 
15012You ceased to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares decreased because:
expiry or cancellation without exercise of equity derivatives under which (choose one):
you are under an obligation to deliver the underlying shares
 
2201Interest of corporation controlled by you
 
 		 7,833,548           
18. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long position1,017,004,4475.11
Short position205,250,4261.03
Lending Pool827,017,3564.15
19. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long position1,010,276,4315.07
Short position197,416,8780.99
Lending Pool824,991,8934.14
20. Capacity in which interests disclosed in Box 19 are held:
Capacity codeNumber of shares
2106Person having a security interest in shares
Long position8,834
Short position0
2201Interest of corporation controlled by you
Long position185,275,704
Short position197,416,878
2502Approved lending agent
Long position824,991,893
Short position0

21. Further information in respect of derivative interests:
Derivatives codeNumber of shares
4101Listed derivatives - Physically settled
Long position54,681,234
Short position37,948,936
4103Listed derivatives - Convertible instruments
Long position155,860
Short position0
4105Unlisted derivatives - Physically settled
Long position80,576,589
Short position118,201,904
4106Unlisted derivatives - Cash settled
Long position33,369,324
Short position37,768,045
22. Further information in relation to interests of corporations controlled by substantial shareholder:
Name of controlled corporationAddress and place of incorporationName of controlling person% controlDirect interest (Y/N)Number of shares
Citicorp LLC388 Greenwich Street, New York, NY 10013, USACitigroup Inc.100.00N
Long position870,111,285
Short position23,098,191
Citibank, N.A.5800 S Corporate Place, Sioux Falls, SD 57108, Lincoln, USACiticorp LLC100.00Y
Long position870,049,710
Short position22,859,190
Citigroup Global Markets Holdings Inc.388 Greenwich Street, New York, NY 10013, USACitigroup Inc.100.00N
Long position139,736,554
Short position169,093,640
Citigroup Financial Products Inc.388 Greenwich Street, New York, NY 10013, USACitigroup Global Markets Holdings Inc.100.00N
Long position139,736,554
Short position169,093,640
Citigroup Global Markets Hong Kong Limited50/F, Champion Tower, Three Garden Road, Central, Hong KongCitigroup Financial Products Inc.100.00Y
Long position41,934,369
Short position71,137,387
Citigroup Global Markets Inc.388 Greenwich Street, New York, NY 10013, USACitigroup Financial Products Inc.100.00Y
Long position25,085,774
Short position36,056,296
Citigroup Global Markets Europe Finance LimitedCitigroup Centre, Canada Square, Canary Wharf, London, E14 5LB, EnglandCitigroup Financial Products Inc.100.00N
Long position974,000
Short position0
Citigroup Global Markets (International) Finance GmbHHardstrasse 201, Zurich CH-8005, SwitzerlandCitigroup Global Markets Europe Finance Limited100.00N
Long position974,000
Short position0
Citigroup Global Markets Switzerland Holding GmbHBaarerstrasse 14-16, Zug, 6300, SwitzerlandCitigroup Global Markets Europe Finance Limited100.00N
Long position974,000
Short position0
Citigroup Global Markets Overseas Finance Limited50/F, Champion Tower, Three Garden Road, Central, Hong KongCitigroup Global Markets Switzerland Holding GmbH48.14N
Long position974,000
Short position0
Citigroup Global Markets Overseas Finance Limited50/F, Champion Tower, Three Garden Road, Central, Hong KongCitigroup Global Markets (International) Finance GmbH51.86N
Long position974,000
Short position0
Citigroup Global Markets Hong Kong Holdings Limited50/F, Champion Tower, Three Garden Road, Central, Hong KongCitigroup Global Markets Overseas Finance Limited100.00N
Long position974,000
Short position0
Citigroup Global Markets Asia Limited50/F, Champion Tower, Three Garden Road, Central, Hong KongCitigroup Global Markets Hong Kong Holdings Limited100.00Y
Long position974,000
Short position0
Citigroup Global Markets Holdings Bahamas LimitedCaves Corporate Centre Building No. 2, West Bay Street P.O. Box N-1576, Nassau, New Providence, BahamasCitigroup Financial Products Inc.90.00N
Long position71,742,411
Short position61,899,957
Citigroup Global Markets LimitedCitigroup Centre, Canada Square, Canary Wharf, London E14 5LB, EnglandCitigroup Global Markets Holdings Bahamas Limited100.00N
Long position172,705
Short position64,305
Citigroup Global Markets Europe AGBörsenplatz 9, Frankfurt am Main, 60313, GermanyCitigroup Global Markets Limited100.00Y
Long position114,800
Short position6,400
Citigroup Global Markets Funding Luxembourg S.C.A.31, Z.A. Bourmicht, Bertrange, L-8070, LuxembourgCitigroup Global Markets Limited99.99Y
Long position57,905
Short position57,905
Citigroup Global Markets LimitedCitigroup Centre, Canada Square, Canary Wharf, London E14 5LB, EnglandCitigroup Global Markets Holdings Bahamas Limited100.00Y
Long position71,569,706
Short position61,835,652
Citicorp Banking CorporationNew Castle Corporate Commons, Operations One Bldg., One Penn's Way, New Castle, DE 19720, USACitigroup Inc.100.00N
Long position7,480
Short position0
Citibank (Switzerland) AGHardstrasse 201, Zurich, 8005, SwitzerlandCiticorp Banking Corporation100.00Y
Long position7,480
Short position0
Citi GSCP Inc.388 Greenwich Street, New York, NY 10013, USACiticorp LLC100.00N
Long position45,517
Short position3,474
TRV Investments LLC388 Greenwich Street, New York, NY 10013, USACiti GSCP Inc.100.00N
Long position45,517
Short position3,474
COHM Overseas Mexico Holding, S. de R.L. de C.V.Prolongación Reforma 1196, Santa Fe Cuajimalpa, 05348 Ciudad de México, MexicoTRV Investments LLC100.00N
Long position45,517
Short position3,474
Citicorp (Mexico) Holdings LLCMoras 850, Mexico City, Distrito Federal, 03240, MexicoCOHM Overseas Mexico Holding, S. de R.L. de C.V.100.00N
Long position45,517
Short position3,474
Grupo Financiero Citi Mexico, S.A. de C.V.Prolongación Reforma 1196, Santa Fe Cuajimalpa, 05348 Ciudad de México, MexicoCiticorp (Mexico) Holdings LLC99.99N
Long position45,517
Short position3,474
Citi Mexico Casa de Bolsa, Sociedad Anonima de Capital Variable, Grupo Financiero Citi MexicoProlongación Reforma 1196, Santa Fe Cuajimalpa, 05348 Ciudad de México, MexicoGrupo Financiero Citi Mexico, S.A. de C.V.99.99Y
Long position45,517
Short position3,474
Citibank, N.A.5800 S Corporate Place, Sioux Falls, SD 57108, Lincoln, USACiticorp LLC100.00N
Long position16,058
Short position235,527
Citibank Overseas Investment CorporationNew Castle Corporate Commons, Operations One Bldg., One Penn's Way, New Castle, DE 19720, USACitibank, N.A.100.00N
Long position16,058
Short position235,527
Citi Investments Bahamas Ltd.Caves Corporate Centre Building No. 2, West Bay Street, Nassau, BAHAMASCitibank Overseas Investment Corporation100.00N
Long position16,058
Short position235,527
Citi Overseas Holdings Bahamas LimitedCaves Corporate Centre Building No. 2, West Bay Street, Nassau, BahamasCiti Investments Bahamas Ltd.100.00N
Long position16,058
Short position0
Citibank Europe plc1 North Wall Quay, Dublin 1, D01 T8Y1, IrelandCiti Overseas Holdings Bahamas Limited100.00Y
Long position16,058
Short position0
Citigroup Holding (Singapore) Private Limited8 Marina View, #21-00 Asia Square Tower 1, 018960, SingaporeCiti Investments Bahamas Ltd.100.00N
Long position0
Short position235,527
Citibank BerhadMenara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, MALAYSIACitigroup Holding (Singapore) Private Limited100.00Y
Long position0
Short position235,527
Citigroup Global Markets Holdings Inc.388 Greenwich Street, New York, NY 10013, USACitigroup Inc.100.00Y
Long position421,112
Short position5,225,047

23. Further information in relation to interests held by substantial shareholder jointly with another person:
Name of joint shareholderAddressNumber of shares
 
24. Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust:
Names of trustAddressStatus codeNumber of shares
  
25. Further information from a party to an agreement under Section 317 (Please see Notes for further information required):
Names of other partiesAddressNumber of shares
 
Total number of shares in which a substantial shareholder is interested under sections 317 and 318
26. Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act:
NamesAddressRelationship CodePercentage (%)
  
 
27. Supplementary information:
28. Log/Serial Number of the previous form:
29. Number of concert party document(s) under section 317 attached/uploaded:
Date of filing this Form 2: 05/10/2026
(dd/mm/yyyy)