<SEC-DOCUMENT>0001104659-25-089203.txt : 20250911
<SEC-HEADER>0001104659-25-089203.hdr.sgml : 20250911
<ACCEPTANCE-DATETIME>20250911060516
ACCESSION NUMBER:		0001104659-25-089203
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250911
DATE AS OF CHANGE:		20250911

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nebius Group N.V.
		CENTRAL INDEX KEY:			0001513845
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			P7

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-286932
		FILM NUMBER:		251307175

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		SCHIPHOL BOULEVARD 165
		CITY:			SCHIPHOL
		PROVINCE COUNTRY:   	P7
		BUSINESS PHONE:		31202066970

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		SCHIPHOL BOULEVARD 165
		CITY:			SCHIPHOL
		PROVINCE COUNTRY:   	P7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Yandex N.V.
		DATE OF NAME CHANGE:	20110223

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nebius Group N.V.
		CENTRAL INDEX KEY:			0001513845
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			P7

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		SCHIPHOL BOULEVARD 165
		CITY:			SCHIPHOL
		PROVINCE COUNTRY:   	P7
		BUSINESS PHONE:		31202066970

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		SCHIPHOL BOULEVARD 165
		CITY:			SCHIPHOL
		PROVINCE COUNTRY:   	P7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Yandex N.V.
		DATE OF NAME CHANGE:	20110223
</SEC-HEADER>
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<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Issuer Free Writing
Prospectus</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Relating to Preliminary
Prospectus dated September&nbsp;10, 2025</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Filed pursuant
to Rule&nbsp;433</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Registration No.&nbsp;333-286932</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Nebius Group
announces pricing of upsized private offering of $2.75 billion of convertible senior notes</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amsterdam,
September&nbsp;10, 2025</B></FONT>&mdash;Nebius Group N.V. (&ldquo;Nebius Group&rdquo; or the &ldquo;Company&rdquo;; NASDAQ: NBIS), a
leading AI infrastructure company, today announced the pricing of its offering of $2.75 billion aggregate original principal amount of
convertible senior notes, in two series: $1,375,000,000 aggregate original principal amount of 1.00% convertible notes due 2030 (the &ldquo;2030
Notes&rdquo;) and $1,375,000,000 aggregate original principal amount of 2.75% convertible notes due 2032 (the &ldquo;2032 Notes&rdquo;,
and together with the 2030 Notes, the &ldquo;Notes&rdquo;), in a private offering to qualified institutional buyers pursuant to Rule&nbsp;144A
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). The offering was upsized from the previously announced
offering size of $2.0 billion aggregate original principal amount of the Notes, split equally between the two series. The issuance and
sale of the Notes are expected to settle on September&nbsp;15, 2025, subject to customary closing conditions. Nebius Group has also granted
the initial purchasers of each series of Notes options to purchase, for settlement within a period of 13 days from, and including, the
date the Notes are first issued, up to an additional $206,250,000 aggregate original principal amount of 2030 Notes and up to an additional
$206,250,000 aggregate original principal amount of 2032 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company also announced today pricing of the
underwritten public offering of $1.0 billion of the Company&rsquo;s Class&nbsp;A ordinary shares, par value &euro;0.01 (&ldquo;Class&nbsp;A
shares&rdquo;). The Company has granted the underwriters of such offering a 30-day option to purchase up to an additional $150 million
of Class&nbsp;A shares at the public offering price, less underwriting discounts and commissions. The offering of the Notes is not contingent
upon the consummation of the concurrent offering of Class&nbsp;A shares, and the concurrent offering of Class&nbsp;A shares is not contingent
upon the consummation of the offering of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company estimates that the net proceeds from
the offering of the Notes will be approximately $2,694.5 million (or approximately $3,098.7 million if the initial purchasers fully exercise
their option to purchase additional notes), after deducting the initial purchasers&rsquo; discounts and commissions and estimated offering
expenses. The Company estimates that the net proceeds from the concurrent offering of its Class&nbsp;A shares will be approximately $979.5
million (or approximately $1,126.5 million if the underwriters fully exercise their option to purchase additional Class&nbsp;A shares),
after deducting the underwriters&rsquo; discounts and commissions and estimated offering expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company intends to use the net proceeds from
the offering of the Notes and, if consummated, the offering of Class&nbsp;A shares to finance the continuing growth of its business, including
the acquisition of additional compute power and hardware, securing strategic high-quality and well-located land plots with reliable providers,
the expansion of its data center footprint, and for general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Notes will be issued pursuant to respective
indentures (the &ldquo;Indentures&rdquo;) between the Company and U.S. Bank Trust Company, National Association, as trustee (the &ldquo;Trustee&rdquo;).
The Notes will be senior, unsecured obligations of the Company and will bear interest on the original principal amount thereof at an annual
rate of 1.00%, in the case of the 2030 Notes, and 2.75%, in the case of the 2032 Notes, payable semi-annually in arrears on March&nbsp;15
and September&nbsp;15 of each year, beginning on March&nbsp;15, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The initial conversion rate for each series of
Notes is 7.2072 Class&nbsp;A shares per $1,000 original principal amount of Notes, which represents an initial conversion price of approximately
$138.75 per Class&nbsp;A share. The initial conversion price represents a premium of 50% over the offering price of $92.50 per Class&nbsp;A
share in the concurrent offering of our Class&nbsp;A shares referenced above. The conversion rate and conversion price of each series
of Notes will be subject to adjustment upon the occurrence of certain events. For conversions made in connection with a &ldquo;make-whole
fundamental change&rdquo;, as defined in the respective Indenture, the conversion rate will be increased based on a customary make-whole
table. For the avoidance of doubt, for the purposes of the exercise of any conversion rights in respect of the Notes, the conversion rate
and conversion price will be based on the original principal amount of Notes, and not the Accreted Principal Amount (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2030 Notes and the 2032 Notes will mature,
and the original principal amount of such Notes plus an amount accreted thereon (together, the &ldquo;Accreted Principal Amount&rdquo;
in respect of the relevant series of Notes) will be payable, on September&nbsp;15, 2030 and September&nbsp;15, 2032, respectively, unless
the relevant Notes have been earlier repurchased, redeemed or converted in accordance with their terms. The Accreted Principal Amount
for the relevant series of Notes will be calculated in accordance with an accretion schedule to be included in the respective Indenture
such that, in each case, it reaches 115% of the original principal amount of the respective series of Notes on the respective maturity
date. For the avoidance of doubt, for the purposes of the exercise of any conversion rights in respect of the Notes, the conversion rate
and conversion price will be based on the original principal amount of the Notes and not the Accreted Principal Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taking into account the Accreted Principal Amount payable at the respective
maturity date, the effective conversion price of each series of Notes is equal to approximately $159.56 per Class&nbsp;A share at maturity,
implying an effective conversion premium of approximately 72.5%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to the close of business on the business
day immediately before the date that is two months prior to the respective maturity date of each series of Notes, the Notes of such series
will be convertible only upon satisfaction of certain conditions and during certain periods, including if the last reported sale price
of the Class&nbsp;A shares over a specified period of time is equal to or greater than 130% of the product of the conversion price for
the relevant series of the notes and the then-applicable ratio of the Accreted Principal Amount at the time to the original principal
amount of the Notes (the &ldquo;Accretion Ratio&rdquo;). From the date that is two months prior to the respective maturity date of each
series of Notes, the Notes of such series will be convertible at any time at the election of the holders of such Notes until the close
of business on the second scheduled trading day immediately preceding the respective maturity date. The Company will settle conversions
of the Notes by paying or delivering, as applicable, cash, Class&nbsp;A shares or a combination of cash and Class&nbsp;A shares, at the
Company&rsquo;s election (subject to certain conditions related to Dutch tax laws).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may not redeem either series of the Notes prior
to September&nbsp;20, 2028, except in the event of certain tax law changes. Each series of the Notes will be redeemable, in whole or in
part (subject to certain limitations), for cash on or after September&nbsp;20, 2028, before the 30th scheduled trading day immediately
before the relevant maturity date, but only if the last reported sale price per Class&nbsp;A share is equal to or exceeds 130% of the
product of the conversion price for the relevant series of Notes and the then-applicable Accretion Ratio for such series of Notes for
a specified period of time. The redemption price for the relevant series of Notes will be equal to the Accreted Principal Amount as of
the redemption date of the Notes being redeemed, plus accrued and unpaid interest, if any, on the original principal amount thereof to,
but excluding, the redemption date. Following delivery of a redemption notice by the Company in respect of a series of the Notes, holders
of the Notes of such series will have the right, at their option, to convert their Notes prior to the close of business on the second
business day immediately preceding the redemption date, at the conversion rate applicable at the time. No make-whole adjustments to the
conversion rate will be made in connection with any optional redemption or tax redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If certain corporate events that constitute a
 &ldquo;fundamental change&rdquo; occur, then, subject to a limited exception, noteholders may require the Company to repurchase their
Notes for cash. The repurchase price will be equal to the Accreted Principal Amount of the relevant series of Notes to be repurchased
as of the fundamental change repurchase date, plus accrued and unpaid interest, if any, on the original principal amount thereof to, but
excluding, such repurchase date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The offer and sale of the Notes and any Class&nbsp;A
shares deliverable upon conversion of the Notes have not been, and will not be, registered under the Securities Act or any other securities
laws, and the Notes and any such Class&nbsp;A shares cannot be offered or sold except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act and any other applicable securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release does not and shall not constitute
an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any offer, solicitation or sale of such securities
in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release contains information about
the proposed offering of the Notes and the separate offering of our Class&nbsp;A shares, and there can be no assurance that either such
offering will be completed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Nebius Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nebius Group is a technology company building full-stack infrastructure
to service the high-growth global AI industry. Headquartered in Amsterdam and listed on Nasdaq, Nebius Group has a global footprint with
R&amp;D hubs across Europe, North America and Israel.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nebius Group&rsquo;s AI-native cloud platform has been built for intensive
AI workloads. With a full stack of purposefully designed and tuned proprietary software and hardware designed in-house, Nebius Group gives
AI builders the compute, storage, managed services and tools they need to build, tune and run their models and applications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nebius Group also has additional businesses that operate under their
own distinctive brands:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Avride &mdash; one of the most experienced teams developing autonomous driving technology for self-driving cars and delivery robots.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>TripleTen &mdash; a leading edtech player in the US and certain other markets, re-skilling people for careers in tech.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nebius
Group also holds equity stakes in other businesses including ClickHouse and Toloka.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&zwj;</FONT>Investor
Relations&nbsp;<U>askIR@nebius.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Media Relations&nbsp;<U>media@nebius.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-size: 10pt"><B>Disclaimer</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has filed a registration statement (including a prospectus) with the SEC for the concurrent offering of the Company&rsquo;s Class&nbsp;A
shares which this communication refers to. Before you invest in the Company&rsquo;s Class&nbsp;A shares offered in such concurrent offering,
you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete
information about the issuer and such offering of the Company&rsquo;s Class&nbsp;A shares. You may get these documents for free by visiting
the Company&rsquo;s investor relations website and on the SEC website at <U>https://www.sec.gov</U></FONT>. Alternatively, the Company,
any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by emailing at
<U>prospectus-ny@ny.email.gs.com</U>, <U>prospectus@morganstanley.com</U> or <U>dg.prospectus_requests@bofa.com</U> or by telephone at
+1-800-831-9146.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Forward Looking
Statements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. All statements
contained in this press release other than statements of historical facts, including, without limitation, statements regarding our ability
to successfully complete the offering described herein, our future financial and business performance, our business and strategy, expected
growth, planned investments and capital expenditures, capacity expansion plans, anticipated future financing transactions and expected
financial results, are forward-looking statements. The words &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;continue,&rdquo;
 &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;guide,&rdquo; &ldquo;intend,&rdquo; &ldquo;likely,&rdquo; &ldquo;may,&rdquo; &ldquo;will&rdquo;
and similar expressions and their negatives are intended to identify forward-looking statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>These forward-looking statements are subject
to risks, uncertainties and assumptions, some of which are beyond our control. Actual results may differ materially from the results predicted
or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential
risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among
others: market conditions, our ability to build our businesses to the desired scale, competitive pressures, technological developments,
our ability to secure and retain clients, our ability to secure additional capital to accommodate the growth of the business, unpredictable
sales cycles, potential pricing pressures, as well as those risks and uncertainties related to our continuing businesses included under
the captions &ldquo;Risk Factors&rdquo; and &ldquo;Operating and Financial Review and Prospects&rdquo; in our Annual Report on Form&nbsp;20-F
for the year ended December&nbsp;31, 2024, filed with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) on April&nbsp;30, 2025.
All information in this press release is as of September&nbsp;10, 2025 (unless stated otherwise). Except as required by law, we undertake
no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise,
after the date on which the statements are made or to reflect the occurrence of unanticipated events.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>In addition, statements that &ldquo;we believe&rdquo;
and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available
to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information
may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or
review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not
to unduly rely upon these statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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