VNET Pronounces Appointment of Unbiased Monetary Advisor and Authorized Counsel to the Particular Committee

BEIJING, Oct. 14, 2022 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Firm”), a number one carrier- and cloud-neutral Web knowledge heart providers supplier in Chinaintroduced that the particular committee (the “Particular Committee”) of the Firm’s Board of Administrators (the “Board”) has retained Kroll Securities, LLC and Kroll, LLC (working by means of its Duff & Phelps Opinions Follow) as its unbiased monetary advisor , and Davis Polk & Wardwell LLP as its unbiased authorized counsel. The Particular Committee was shaped to guage and take into account the beforehand introduced preliminary non-binding acquisition proposal letter dated September 13, 2022 from Mr. Josh Sheng Chenfounding father of the Firm and the chief chairman of the Board, to accumulate the entire excellent abnormal shares of the Firm (the “Proposal”) in addition to different potential strategic alternate options that the Firm could pursue.

The Board cautions the Firm’s shareholders and others contemplating buying and selling the Firm’s securities that no choices have been made with respect to the Proposal or any various strategic possibility that the Firm could pursue. There will be no assurance that any definitive supply will probably be made, that any settlement will probably be executed or that the Proposal or some other transaction will probably be accepted or consummated. The Firm doesn’t undertake any obligation to offer any updates with respect to the Proposal or some other transaction, besides as required underneath relevant regulation.

About VNET

VNET Group, Inc. is a number one carrier- and cloud-neutral Web knowledge heart providers supplier in China. VNET supplies internet hosting and associated providers, together with IDC providers, cloud providers, and enterprise VPN providers to enhance the reliability, safety, and pace of its clients’ web infrastructure. Prospects could find their servers and gear in VNET’s knowledge facilities and hook up with China’s web backbones. VNET operates in additional than 30 cities all through Chinaservicing a diversified and constant base of over 6,500 internet hosting and associated enterprise clients that span quite a few industries starting from web corporations to authorities entities and blue-chip enterprises to small- to mid-sized enterprises.

Protected Harbor Assertion

This announcement accommodates forward-looking statements. These forward-looking statements are made underneath the “protected harbor” provisions of the US Personal Securities Litigation Reform Act of 1995. These statements will be recognized by terminology reminiscent of “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “targets,” “believes,” “estimates” and comparable statements. Amongst different issues, quotations from administration on this announcement in addition to VNET’s strategic and operational plans comprise forward-looking statements. VNET might also make written or oral forward-looking statements in its studies filed with, or furnished to, the US Securities and Change Fee, in its annual studies to shareholders, in press releases and different written supplies and in oral statements made by its officers , administrators or workers to 3rd events. Statements that aren’t historic info, together with statements about VNET’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Plenty of elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: VNET’s objectives and techniques; VNET’s future enterprise growth and growth plans; the anticipated development of the info heart and cloud providers market; expectations concerning demand for, and market acceptance of, VNET’s providers; VNET’s expectations concerning sustaining and strengthening its relationships with clients; VNET’s plans to spend money on analysis and growth to reinforce and complement its resolution and repair choices; worldwide commerce insurance policies, protectionist insurance policies and different insurance policies that might place restrictions on financial and business exercise; and normal financial and enterprise circumstances within the areas the place VNET supplies options and providers. Additional data concerning these and different dangers is included in VNET’s studies filed with, or furnished to, the US Securities and Change Fee. All data supplied on this press launch and within the attachments is as of the date of this press launch, and VNET undertakes no obligation to replace such data, besides as required underneath relevant regulation.

Investor Relations Contact:
Xinyuan Liu
Tel: +86 10 8456 2121
E mail: [email protected]

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