BEIJING, April 28, 2025 – AirNet Technology Inc. (Nasdaq: ANTE) announced today its decision to terminate the amended and restated Deposit Agreement, effective May 30, 2025. The agreement, dated March 29, 2019, involves the company, JPMorgan Chase Bank N.A. (the “Depositary”), and the holders of American depositary shares (the “ADSs”).

Around April 30, 2025, the Depositary for AirNet’s American depositary receipts (the “ADRs”) will notify all ADR holders and beneficial owners about the termination of the ADR facility for the company’s ADSs, as per the Deposit Agreement. The termination will take effect on May 30, 2025 (the “Effective Date”). On this date, ADSs will be automatically cancelled, and holders will receive the underlying Deposited Securities (the “Mandatory Exchange”) at a rate of one (1) ordinary share, with a par value of $0.04 per share, for each ADS cancelled.

Forward-Looking Statements

This release includes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements concern plans, objectives, goals, strategies, future events or performance, underlying assumptions, and other statements that are not strictly historical facts. The use of terms like “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions indicates forward-looking statements. These statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from expectations. These uncertainties and risks include the company’s goals and strategies, future business development, technological changes, economic conditions, reputation and brand, competition and pricing impacts, government regulations, changes in laws, and risks discussed in the company’s SEC filings. Investors should not place undue reliance on these forward-looking statements. Additional factors are detailed in the company’s filings with the SEC, available at www.sec.gov. The company is not obligated to update these statements to reflect events or circumstances after the release date, except as required by law.

Company Contact

Penny Pei
Investor Relations
AirNet Technology Inc.
Tel: +86-10-8460-8678
Email: penny@ihangmei.com

“`