Notice of Proposed Settlement of Class Action Involving All Persons and Entities who Purchased or Otherwise Acquired Sea Limited Publicly-Traded American Depositary Shares from November 15, 2022 through August 14, 2023

SEATTLE, April 15, 2025 /PRNewswire/ -- JND Legal Administration

UNITED STATES DISTRICT COURT
DISTRICT OF ARIZONA

TO:     ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED SEA LIMITED PUBLICLY-TRADED AMERICAN DEPOSITARY SHARES DURING THE PERIOD FROM NOVEMBER 15, 2022 THROUGH AUGUST 14, 2023, BOTH DATES INCLUSIVE (THE "CLASS")

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN
ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on July 1, 2025, at 9:30 a.m., before the Honorable Douglas L. Rayes, at the United States District Court for the District of Arizona, Sandra Day O'Connor U.S. Courthouse, 401 West Washington Street, Phoenix, AZ 85003-2118, to determine whether:  (1) the proposed settlement (the "Settlement") of the above-captioned action ("Litigation") as set forth in the Stipulation of Settlement ("Stipulation")[1] for $46 million in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation should be entered dismissing the Litigation with prejudice and granting the releases as specified in the Stipulation; (3) to award Plaintiffs' Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of Pendency and Proposed Settlement of Class Action ("Notice"), which is discussed below) and, if so, in what amounts; (4) to award payment pursuant to 15 U.S.C. §78u-4(a)(4) in connection with Lead Plaintiff's representation of the Class and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.

There exists the possibility that the Court may decide to conduct the Settlement Hearing by video or telephonic conference, or otherwise allow Class Members to appear at the hearing by telephone or videoconference, without further written notice to the Class.  In order to determine whether the date and time of the Settlement Hearing has changed, or whether Class Members must or may participate by telephone or video, it is important that you monitor the Court's docket and the website, www.SeaLimited2023SecuritiesLitigation.com, before making any plans to attend the Settlement Hearing.  Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or telephonic appearances at the hearing, will also be posted to that website.  Also, if the Court requires or allows Class Members to participate in the Settlement Hearing by telephone or video conference, the access information will be posted to the website, www.SeaLimited2023SecuritiesLitigation.com.

IF YOU PURCHASED OR OTHERWISE ACQUIRED SEA LIMITED'S ("SEA") PUBLICLY-TRADED AMERICAN DEPOSITARY SHARES ("ADSs") DURING THE PERIOD FROM NOVEMBER 15, 2022 THROUGH AUGUST 14, 2023, BOTH DATES INCLUSIVE, YOUR RIGHTS ARE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

To share in the distribution of the Net Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form ("Proof of Claim") by mail (postmarked, or received (if not postmarked), no later than June 23, 2025) or electronically via the website (no later than June 23, 2025).  Failure to submit your Proof of Claim by June 23, 2025, will subject your Proof of Claim to rejection and preclude you from receiving any of the recovery in connection with the Settlement of this Litigation.  If you purchased or otherwise acquired Sea ADSs between November 15, 2022 and August 14, 2023, both dates inclusive, and do not request exclusion from the Class, you will be bound by the Settlement and any judgment and releases entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.

The Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), the Proof of Claim, the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice), and other important documents, may be accessed online at www.SeaLimited2023SecuritiesLitigation.com, or by writing to or calling:

Sea Limited 2023 Securities Litigation
Claims Administrator
c/o JND Legal Administration
P.O. Box 91130
Seattle, WA  98111
Telephone: 1-877-930-5821

Inquiries should NOT be directed to Sea, Defendants, the Court, or the Clerk of
the Court.

Inquiries, other than requests for the Notice or for a Proof of Claim, may be made to
Lead Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP
Theodore J. Pintar
655 West Broadway, Suite 1900
San Diego, CA  92101
Telephone: 1-800-449-4900
[email protected]

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED, OR RECEIVED (IF NOT POSTMARKED), BY JUNE 10, 2025, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  ALL CLASS MEMBERS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFFS' COUNSEL FOR AN AWARD OF ATTORNEYS' FEES, LITIGATION EXPENSES, PLUS INTEREST ON BOTH AMOUNTS, AND/OR AWARD TO LEAD PLAINTIFF PURSUANT TO 15 U.S.C. §78u-4(a)(4).  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND DEFENDANTS' COUNSEL SUCH THAT IT IS RECEIVED NO LATER THAN JUNE 10, 2025, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

Questions? Visit www.SeaLimited2023SecuritiesLitigation.com or call toll-free at 1-877-930-5821.

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF ARIZONA

¹ The Stipulation can be viewed and/or obtained at www.SeaLimited2023SecuritiesLitigation.com.

SOURCE JND Legal Administration