3 E Network Announces Entry into Material Definitive Agreement, Related Party Transaction and Unregistered Sale of Equity Securities

HONG KONG, Oct. 23, 2026 (GLOBE NEWSWIRE) -- 3 E Network Technology Group Limited (Nasdaq: MASK) (the “Company” or “3 E Network”), a business-to-business (“B2B”) information technology (“IT”) business solutions provider, committed to becoming a next-generation artificial intelligence (“AI”) infrastructure solutions provider, today entered into a subscription agreement (the “Subscription Agreement”) with 3E NETWORK TECHNOLOGY PTE. LTD., a company incorporated under the laws of Singapore (the “Yang Investor”), and six individual purchasers (collectively with the Yang Investor, the “Purchasers”), for a private placement (the “Private Placement”) of an aggregate of 2,751,789 Class A ordinary shares, par value $0.005 per share, of the Company (the “Class A Ordinary Shares”), at a purchase price of approximately US$1.8170 per share, for aggregate gross cash proceeds to the Company of $5,000,000. On October 23, 2026, the Company announced a two-for-one share consolidation, with its Class A Ordinary Shares expected to begin trading on a post-consolidation basis on October 30, 2026 (the “Nasdaq Market Effective Date”). These share numbers, the par value and the per-share purchase price are stated on a post-consolidation basis.