31 August 2023

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

Update on OTC Markets listing

Ethernity Networks Ltd (AIM: ENET.L), a leading supplier of data processing semiconductor technology for networking appliances and fibre access controller for PON networks, announces that, with effect from 1 September 2023, its ordinary shares ("Ordinary Shares") will cease to trade on the OTCQB Venture Market ("OTCQB") and commence trading on the Pink Open Market ("Pink Market"), operated by OTC Markets. The Ordinary Shares will continue to be admitted to trading on AIM as the Company's primary listing, alongside the admission to trading on the Pink Market.

The Company's shares were admitted to trading on OTCQB on 6 September 2022. The Company has decided to transfer to the Pink Market due to the absence of perceived benefits for Ethernity's shareholders from the OTCQB listing, and the excessive resources it entailed. Through the admission to trading on the Pink Market, Ethernity shareholders based in the US will continue to have access to a platform by which they can trade in the Company's Ordinary Shares. The Ordinary Shares will trade on the Pink Market under the same ticker symbol, "ENETF".

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About Ethernity (www.ethernitynet.com)

Ethernity Networks (AIM: ENET.L) provides innovative, comprehensive networking and security solutions on programmable hardware that increase telco/cloud network infrastructure capacity. Ethernity's semiconductor logic offers data processing functionality for different networking applications, innovative patented wireless access technology, and fibre access media controllers, all equipped with control software with a rich set of networking features. Ethernity's solutions quickly adapt to customers' changing needs, improving time-to-market, and facilitating the deployment of 5G over wireless and fibre infrastructure.