7 February 2025

ETHERNITY NETWORKS LTD.

("Ethernity" or the "Company")

Extension of warrant instruments

Ethernity Networks Limited (AIM: ENET.L) (OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces the extension of the expiration date of 19,874,088 warrants (the "Warrants") that were granted in connection with the fundraise undertaken by the Company in January 2023 (the "January 2023 Fundraise").

The Company has today extended the expiry date of the Warrants by twenty four months to 8 February 2027.

The Board considers that it is appropriate to extend the expiry date of the Warrants to provide the Warrant holders with the opportunity to exercise their warrants into shares at a later stage.

All of the other terms of the Warrants remain unchanged as announced on 17 January 2023 and 25 May 2023 (when the exercise price was varied to 6p).

Director holdings of Warrants

David Levi and Shavit Baruch hold 3,028,571 and 668,771 warrants respectively, by virtue of their participation in the January 2023 Fundraise. However, these 3,697,342 warrants have not been extended and therefore expire on 8 February 2025.

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.