Ebang International (EBON) to Effect 1-for-30 Reverse Stock Split

Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a global blockchain technology company, today announced that the Company’s shareholders have approved the 1-for-30 reverse split of its issued and outstanding ordinary shares (the "Reverse Stock Split") at the Company’s extraordinary general meeting on November 20, 2022 at 8:00 a.m. (Singapore Time). The Reverse Stock Split will become effective after the close of trading day on Monday, November 21, 2022 (the "Effective Date"), which will help ensure that the Company’s Class A ordinary shares will continue to be listed on The Nasdaq Global Select Market. The Company anticipates that its Class A ordinary shares will begin trading on a split-adjusted basis when the market opens on Tuesday, November 22, 2022.

The Reverse Stock Split is primarily intended to bring the Company into compliance with the minimum bid price requirement for maintaining its listing on The Nasdaq Global Select Market. The Company's Class A ordinary shares will continue to trade on The Nasdaq Global Select Market under the existing symbol "EBON" and the new CUSIP number for the Company’s Class A ordinary shares following the Reverse Stock Split will be G3R33A 205.

Additional information about the Reverse Stock Split can be found in the Company's proxy statement attached as Exhibit 99.1 to the Form 6-K furnished with the U.S. Securities and Exchange Commission (the "SEC") on October 28, 2022, which is available free of charge at the SEC's website, www.sec.gov.

Information for Shareholders

VStock Transfer, LLC is acting as exchange agent for the Class A ordinary shares Reverse Stock Split and will send instructions to any shareholders of record who hold stock certificates regarding the exchange of certificates for Class A ordinary shares. The Company’s corporate administrator for the Class B ordinary shares will update the register of members of the Company’s Class B ordinary shares to reflect the Reverse Stock Split. Shareholders who hold their shares in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares following the Reverse Stock Split. VStock Transfer, LLC may be reached for questions at (212) 828-8436. The Reverse Stock Split will also have a proportionate effect on all other options, warrants and other convertible securities outstanding as of such effective date of the Reverse Stock Split.

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