Reach - non-regulatory announcement

28 November 2022

ETHERNITY NETWORKS LIMITED

("Ethernity" or the "Company")

UEP2025 Progress Update

Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for virtualized networking appliances, announces that the Company has delivered its UEP2025 platform to a customer, an existing prominent microwave wireless OEM customer (the "Customer"), following the receipt of a purchase order.

Ethernity's UEP2025 supports Carrier Ethernet functionality, clock sync, security, and the Company's patented link bonding over a combination of wired or wireless links over any vendor's radio units (vendor agnostic). It is expected to serve as an ideal disaggregated, all-in-one, wireless backhaul Indoor Unit in an especially low-space, low-power enclosure, and will facilitate 5G infrastructure deployment by offering higher bandwidth transport, faster time-to-market, and lower cost to deploy.

In parallel to the Customer's design of a customised integrated radio system based on Ethernity's ENET 4840 SoC with support for 2.5Gbps wireless links bonding (as announced on 12 October 2021), Ethernity and the Customer have engaged in plans to sell the UEP2025 indoor unit as a complete system, delivered by Ethernity to North American wireless internet service providers ("WISPs") via the Customer's large sales organisation in the United States. To this end, the Customer will now engage in the integration of their management software with the UEP2025.

The Customer has indicated to Ethernity that it expects WISPs to find the product attractive due to its ability to transmit higher throughput over E-Band 10Gbps radio ports, while utilising existing microwave links as backup for continuous service. The Customer also believes that using programmable hardware will enable them, with support from Ethernity, to position the product as a single platform that will support various protocols and transmission options.

This specific order delivered is not material in value, however it represents an important milestone for the UEP2025. The Company believes there to be significant anticipated future commercial prospects for the product.

For more information on the UEP2025 platform, please see the Company's website at:

www.ethernitynet.com/products/enet-network-appliances/uep2025-family/

About Ethernity Networks

Ethernity Networks (AIM: ENET.L; OTCQB: ENETF) provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks. Ethernity's semiconductor logic offers complete Carrier Ethernet Switch Router data plane processing and control software with a rich set of networking features, robust security, and a wide range of virtual function accelerations to optimize telecommunications networks. Ethernity's complete solutions quickly adapt to customers' changing needs, improving time-to-market, and facilitating the deployment of 5G, edge computing, and NFV.

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