NaaS (NASDAQ: NAAS) CFO holds options for 11.5M Class A shares

Rhea-AI Filing Summary

NaaS Technology Inc. reported the initial equity holdings of its Chief Financial Officer, Steven Sim, on a Form 3. The filing shows stock options that are exercisable for 11,544,800 Class A ordinary shares. These options became exercisable on August 12, 2025 and carry an exercise price of US$0.00005 per share.

The options expire on September 30, 2034 and are held directly by the executive. This disclosure does not reflect a new market transaction, but rather establishes the CFO’s existing derivative position and potential future equity exposure in the company.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

SIM STEVEN

(Last) (First) (Middle)

C/O NEWLINK CTR, AREA G, BLDG 7,

HUITONG TIMES SQUARE, 1 YAOJIAYUAN S RD

(Street)

BEIJING CHAOYANG DISTRICT 100024

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
NaaS Technology Inc. [ NAAS ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock options	(1)	09/30/2034	Class A ordinary shares	11,544,800	$0.0001(2)	D

Explanation of Responses:

1. The stock options became exercisable as to 11,544,800 Class A ordinary shares of NaaS Technology Inc. ("Issuer") on August 12, 2025.

2. The exercise price of the stock option is US$0.00005 per share.

	/s/ Steven Sim	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does the NaaS (NAAS) Form 3 filing disclose about the CFO?

The Form 3 shows NaaS Technology’s CFO, Steven Sim, holding stock options. These options are exercisable for 11,544,800 Class A ordinary shares, giving him significant potential equity exposure without indicating any recent share purchases or sales.

How many shares can NaaS CFO Steven Sim acquire under his stock options?

Steven Sim’s stock options are exercisable into 11,544,800 Class A ordinary shares of NaaS Technology. This figure reflects his potential equity stake from options alone, as reported in the Form 3 insider ownership filing.

What is the exercise price of the NaaS CFO’s stock options?

The exercise price of Steven Sim’s stock options is US$0.00005 per Class A ordinary share. This very low strike price means the options could translate into substantial economic value if the company’s shares trade meaningfully above this level.

When did NaaS CFO Steven Sim’s stock options become exercisable?

The stock options became exercisable on August 12, 2025, according to the Form 3 footnotes. From that date onward, Steven Sim can convert the options into Class A ordinary shares under the terms of the award.

When do the reported NaaS stock options held by the CFO expire?

The reported stock options expire on September 30, 2034. After this expiration date, Steven Sim would no longer be able to exercise these options into Class A ordinary shares, so the value must be realized before that deadline.

Does the NaaS Form 3 show the CFO buying or selling any shares?

The Form 3 does not show any share purchases or sales by the CFO. It reports his existing stock option holdings, establishing his initial beneficial ownership position rather than recording a new market transaction.