Amendment: SEC Form SCHEDULE 13D/A filed by 51Talk Online Education Group

The aggregate number of Class A ordinary shares and the percentage of total outstanding Class A ordinary shares beneficially owned by the Reporting Persons are set forth below. References to percentage ownerships of Class A ordinary shares in this Statement are based upon the 247,187,397 Class A ordinary shares of the Issuer outstanding as of December 31, 2024, as reported in the Form 20-F filed by the Issuer with the Securities and Exchange Commission on April 25, 2025. The Reporting Persons may be deemed to beneficially own an aggregate of 28,494,075 Class A ordinary shares, represented by 474,901 American Depositary Shares, which constitutes approximately 11.5% of the Issuer's outstanding Class A ordinary shares, calculated in accordance with Rule 13d-3 under the Act. HSG V HOLDCO I (formerly known as SCCV V HOLDCO I) beneficially owns 28,494,075 Class A ordinary shares, which represents approximately 11.5% of the outstanding Class A ordinary shares calculated in accordance with the requirements of Rule 13d-3 under the Act. HSGCVF V (formerly known as SCCVF V), as the parent company of HSG V HOLDCO I, may be deemed to beneficially own 28,494,075 Class A ordinary shares, which represents approximately 11.5% of the outstanding Class A ordinary shares calculated in accordance with the requirements of Rule 13d-3 under the Act. HSGCVF MGMT V (formerly known as SCCVF MGMT V), as the general partner of HSGCVF V, may be deemed to beneficially own 28,494,075 Class A ordinary shares, which represents approximately 11.5% of the outstanding Class A ordinary shares calculated in accordance with the requirements of Rule 13d-3 under the Act. HSG Holding (formerly known as SCC HOLD), as the general partner of HSGCVF MGMT V, may be deemed to beneficially own 28,494,075 Class A ordinary shares, which represents approximately 11.5% of the outstanding Class A ordinary shares calculated in accordance with the requirements of Rule 13d-3 under the Act. SNP, as the parent company of HSG Holding, may be deemed to beneficially own 28,494,075 Class A ordinary shares, which represents approximately 11.5% of the outstanding Class A ordinary shares calculated in accordance with the requirements of Rule 13d-3 under the Act. NS, as the sole owner and the sole director of SNP, may be deemed to beneficially own 28,494,075 Class A ordinary shares, which represents approximately 11.5% of the outstanding Class A ordinary shares calculated in accordance with the requirements of Rule 13d-3 under the Act. Based on the transactions described herein, the Reporting Persons may be deemed to constitute a "group" for purposes of Section 13(d)(3) of the Act. The filing of this Statement shall not be construed as an admission that the Reporting Persons are a group, or have agreed to act as a group. Each Reporting Person expressly disclaims beneficial ownership in the securities reported herein except to the extent such Reporting Person actually exercises voting or dispositive power with respect to such securities.

The number of Class A ordinary shares as to which each of the Reporting Persons has sole or shared power to vote, direct the vote, dispose or direct the disposition are as set forth in rows seven through ten of the cover pages hereof. The information set forth in Item 2 is hereby incorporated by reference into this Item 5(b).

On December 3, 2025, HSGCGF I sold 192,322 American Depositary Shares (representing 11,539,320 Class A ordinary shares) in a block trade at a price of $30.50 per American Depostiary Share, for an aggregate amount of $5,865,821. Such American Depositary Shares had previously been distributed by HSG I Holdco A to HSGCGF I.