Completion of Nominated Adviser due diligence

28 June 2022

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

Completion of Nominated Adviser due diligence and update on advisers

Ethernity Networks Ltd (AIM: ENET.L), a leading supplier of networking processing semiconductor technology ported on FPGA (field programmable gate array) for virtualised networking appliances , is pleased to announce that further to the announcement of the appointment of Allenby Capital Limited ("Allenby Capital") as the Company's nominated adviser on 27 April 2022, Allenby Capital has confirmed that it has completed its due diligence.

Further, with effect from today's date the Company's joint brokers are Allenby Capital and Peterhouse Capital Limited.

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About Ethernity Networks

Ethernity Networks (AIM: ENET.L) provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks. Ethernity's FPGA 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.