Exhibit 99.2
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the
Hong Kong Stock Exchange) take no responsibility for the contents of this announcement, 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 announcement.
NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.
新 东
方 教 育 科
技( 集 团 )有 限 公 司 *
(continued in the Cayman Islands with limited liability)
(Stock Code: 9901)
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INSIDE INFORMATION
- UPSIZING OF SHARE REPURCHASE PROGRAM,
(2) DATE OF BOARD MEETING
AND PROPOSED DECLARATION OF SPECIAL DIVIDEND
New Oriental Education & Technology Group Inc. (New Oriental or the Company) (NYSE: EDU and SEHK: 9901) today
announced that (i) its board of directors (the Board) has approved the upsizing of its share repurchase program and (ii) the meeting of the Board (the Board Meeting) will be held on August 19, 2024 for the
consideration of the proposed declaration of special dividend (the Special Dividend).
UPSIZING OF SHARE REPURCHASE PROGRAM
The following information made by the Company is, or may be considered, inside information. Accordingly, the following information is issued pursuant to Rule
13.09 of the Rules Governing the Listing of the Securities on The Stock Exchange of Hong Kong Limited and under Part XIVA of the Securities and Futures Ordinance (Cap. 571).
As previously disclosed, the Company launched a share repurchase program (the Share Repurchase Program) in July 2022, whereby the Company
was authorized to repurchase up to US$400 million of the Companys ADSs and/or common shares during the period from July 28, 2022 through May 31, 2023. The Share Repurchase Program was extended by two years through May 31, 2025. For
details of the Share Repurchase Program, please refer to the announcement of the Company dated July 31, 2024. As of the date of this announcement, the Company had repurchased approximately US$330.3 million worth of its ADSs under the Share
Repurchase Program.
The Board has approved an adjustment to the Share Repurchase Program, pursuant to which the aggregate value of shares that the
Company is authorized to repurchase under the Share Repurchase Program is increased from US$400 million to US$700 million. The upsized Share Repurchase Program is effective through May 31, 2025.
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