SCHEDULE 13G/A 0000902664-25-003624 0001510589 XXXXXXXX LIVE 1 Class A Ordinary Shares, par value $0.0001 per share 12/31/2025 0001866364 Webull Corp G8192N103 200 CARILLON PARKWAY ST. PETERSBURG FL 33716 Rule 13d-1(d) Hillhouse Investment Management, Ltd. E9 5974604.00 0.00 5974604.00 0.00 5974604.00 N 1.4 IA Webull Corp 200 CARILLON PARKWAY, ST. PETERSBURG, FL, 33716 This statement is filed by: This Schedule 13G is filed by Hillhouse Investment Management, Ltd, an exempted Cayman Islands company ("HIM" or the "Reporting Person") with respect to the class A ordinary shares, par value $0.0001 per share ("Class A Ordinary Shares"), of Webull Corp. (the "Company") held by WBL Holding L.P. ("WBL") and WBL2 Holdings Limited ("WBL2"). HIM acts as the sole management company of Hillhouse Focused Fund Growth V, L.P. ("Growth Fund"). Each of WBL and WBL2 is wholly owned by Growth Fund. HIM is hereby deemed to be the beneficial owner of, and to control the voting power of, the Class A Ordinary Shares held by WBL and WBL2. The address of the business office of the Reporting Person is Office #122, Windward 3 Building, Regatta Office Park, West Bay Road, Grand Cayman, Cayman Islands, KY1-9006. Cayman Islands. Y The information required by Item 4(a) is set forth in Row 9 of the cover page for the Reporting Person and is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 417,957,827 shares of Class A Ordinary Shares outstanding as of September 30, 2025 as reported in the Company's Prospectus filed pursuant to Rule 424(b)(3) with the Securities and Exchange Commission on November 20, 2025. 1.4% The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for the Reporting Person and is incorporated herein by reference. The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for the Reporting Person and is incorporated herein by reference. The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for the Reporting Person and is incorporated herein by reference. The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for the Reporting Person and is incorporated herein by reference. N Y N See Item 2(a). Y Y Y Y Hillhouse Investment Management, Ltd. /s/ Audrey Woon 02/17/2026