09 October 2024

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

Director change

Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces that Ayala Deutsch has decided to step down from her position as Chief Financial Officer (CFO) and board member, with immediate effect.

The board has commenced a search for a suitable replacement candidate for the CFO role and announces that Tomer Assis has assumed the position with immediate effect, initially in a non-board capacity. Tomer is a tech leader, with two decades of significant impact in start-ups and public companies worldwide. As a co-founder, CEO and CFO, he accelerated growth in tech firms. He is a Certified Public Accountant with a B.B. in Business Administration, Accounting, and Finance and his expertise spans business strategy, M&A, IPOs, listed companies, fundraisings, investor relations, global operations and business development. Tomer's insights will provide the Company with invaluable guidance, enabling Ethernity to effectively navigate complex financial landscapes, and the Board is confident that his expertise will contribute significantly to the Company's future growth.

David Levi, Ethernity's CEO, commented: "I would like to sincerely thank Ayala for her dedication and valuable contributions over the past five years. I especially appreciate her willingness to take on the CFO role a year ago during a challenging period for the company. I wish Ayala all the best in her future endeavors. I am also delighted to welcome Tomer to Ethernity. He joins at an exciting juncture for the business."

For further information, please contact:

About Ethernity (www.ethernitynet.com)

Ethernity Networks (AIM: ENET.L) 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 Broadband Networks.