10 March 2026

Ethernity Networks Limited

("Ethernity" or the "Company")

Issue of Equity to Chairman

Ethernity Networks Limited (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing and PON semiconductor technology for networking appliances, announces, issue of equity to the Chairman of the Company, Yosi Albagli, in accordance with his compensation package.

Issue of equity

Under his existing contract, Yosi Albagli receives a portion of his annual remuneration as non-Executive Chairman in new ordinary shares of no par value in the Company ("Ordinary Shares").

Consequently, the Company has issued 6,936,578 new Ordinary Shares to Mr Albagli, in satisfaction of the share element of his remuneration for the period from 1 March 2024 to 28 February 2025 at an average issue price of 0.43p per share and 143,920,859 new Ordinary Shares in respect of the period from 1 March 2025 to 28 February 2026, at an average issue price of 0.02p per share.

Due to the current limitation in available share issuance authorities, the Company has issued  62,500,000 Ordinary Shares to Mr. Albagli pursuant to the Company's existing share authorities. As a result of the issue of these Ordinary Shares, Mr Albagi's total holding has increased to 68,223,393 Ordinary Shares, representing 0.27% of the Company's issued share capital.

The remaining 87,357,437 Ordinary Shares will be issued to Mr Albagli subject to the granting of additional share issuance authorities by shareholders at the Company's forthcoming Extraordinary General Meeting ("EGM"), being held on 18 March 2026.

Total voting rights

Application will be made to the London Stock Exchange for 62,500,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 13 March 2026. The new Ordinary Shares will, upon issue, rank pari passu with the existing Ordinary Shares in the Company. Following Admission, the Company's enlarged issued share capital will be 25,031,828,493 Ordinary Shares. The Company holds no Ordinary Shares in Treasury. This figure of 25,031,828,493 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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About Ethernity Networks

Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF) provides innovative networking and security solutions on programmable hardware, enhancing telco/cloud infrastructure capacity. Its semiconductor logic enables advanced data processing for networking applications, alongside patented wireless access and fiber media controllers. Ethernity's solutions accelerate time-to-market and support the deployment of 5G over wireless and fiber infrastructure.

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