Cango Inc. Secures US$10.5 Million Investment from EWCL to Accelerate Growth

Under the terms of this agreement:

• Pursuant to an Investment Agreement dated December 29, 2025, between the Company and EWCL, the Company will issue and deliver to EWCL 7 million Class B ordinary shares, each carrying 20 votes per share.
• Upon closing of the Proposed Investment, EWCL's shareholding in the Company is expected to increase from approximately 2.81% to approximately 4.69% of the total outstanding shares.
• Correspondingly, EWCL's voting power is expected to rise from approximately 36.68% to approximately 49.61% of the total voting power of the Company's outstanding shares.

Paul Yu, CEO and Director of Cango, commented, "The increased investment from EWCL is a powerful vote of confidence in our strategic roadmap. The strengthened alignment with a major shareholder who thoroughly understands our vision enables us to execute with greater certainty and ambition. In 2026, we will continue to strengthen our Bitcoin mining operational capabilities, with a focus on improving hashrate efficiency, upgrading our mining fleet, and selectively acquiring strategic mining assets. Beyond our core mining business, this capital also supports the parallel development of our strategic pillars in energy and AI compute. We are actively exploring and investing in synergistic opportunities in these areas as we build toward our long-term goal: establishing an integrated, global infrastructure platform capable of powering the future digital economy."