During the quarter ended March 31, 2025, we repurchased a total of 51 million ordinary shares (equivalent to 6 million ADSs) for a total of US$0.6 billion. These purchases were made in the U.S. market under our share repurchase program. For the fiscal year ended March 31, 2025, we repurchased a total of 1,197 million ordinary shares (equivalent to 150 million ADSs) for a total of US$11.9 billion. These purchases were made in both the U.S. and Hong Kong markets under our share repurchase program.

As of March 31, 2025, we had 18,474 million ordinary shares (equivalent to 2,309 million ADSs) outstanding, a net decrease of 43 million ordinary shares compared to December 31, 2024, or a 0.2% net reduction in our outstanding shares after accounting for shares issued under our ESOP. For the full fiscal year ended March 31, 2025, our share repurchase program resulted in a net decrease of 995 million ordinary shares, or a 5.1% net reduction in our outstanding shares after accounting for shares issued under our ESOP.

Historical repurchases and net reduction in total shares outstanding are set forth in the table below:

1. Net reduction % in total shares outstanding is calculated by comparing the outstanding number of shares at the end of the fiscal year to the outstanding number of shares at the end of the prior fiscal year.
2. As of March 31, 2023, we had 20,526 million ordinary shares (equivalent to 2,566 million ADSs) outstanding.
3. Quarterly figures may not add up to the annual figures due to rounding.

The remaining amount of Board authorization for our share repurchase program, which is effective through March 2027, was US$20.1 billion as of March 31, 2025.

By order of the Board

Alibaba Group Holding Limited

Kevin Jinwei ZHANG

Secretary

Hong Kong, April 2, 2025

As at the date of this announcement, our board of directors comprises Mr. Joseph C. TSAI as the chairman, Mr. Eddie Yongming WU, Mr. J. Michael EVANS and Ms. Maggie Wei WU as directors, and Mr. Jerry YANG, Ms. Wan Ling MARTELLO, Mr. Weijian SHAN, Ms. Irene Yun-Lien LEE, Mr. Albert Kong Ping NG and Mr. Kabir MISRA as independent directors.

PDF：

📎Share Repurchase Update as of March 31, 2025.pdf