Ebang International Holdings Inc. announced the results of a mediation related to a dispute from a sales contract with one of its customers. As disclosed in the Company’s recent annual report filed with the Securities and Exchange Commission (the “SEC”), on November 22, 2019, the company brought a claim in the Hangzhou Intermediate People’s Court against one of its customers and the ultimate beneficial owner of the mining machines in connection with its sales of 80,000 mining machines. On August 23, 2021, an agreement between the Company and the defendants Zhejiang Qirui Machinery Equipment Co. Ltd. (“Qirui”), Zhejiang Huatie Emergency Equipment Science &Technology Ltd. (“Huatie Emergency”), and Mr. Danfeng Hu, the President and CEO of Huatie Emergency, was reached and has come into effect following a mediation by the court. The result of mediation is as follows: All parties confirmed that the Company has delivered 80,000 mining machines involved in this case, of which 24,000 mining machines have been paid for. The rest of 56,000 mining machines will be paid by Niubo in the amount of RMB272 million. On August 20, 2021, Niubo paid RMB20 million. Niubo will pay the remaining in installments as follows: (i) RMB 10 million by September 15, 2021, (ii) RMB 76 million by December 31, 2021, (iii) RMB 136 million by May 30, 2022, and (iv) RMB 30 million by July 31, 2022. If Niubo fails to make the payment in full and on time in any such installment, the Company has the right to directly apply to the People’s Court for enforcement of all the outstanding payments and liquidate damages of Niubo. Kabayi assumes joint and several liabilities for all the aforementioned debts of Niubo. All parties confirmed there is no other disputes related to this sales contract. Qirui and Niubo released and discharged the Company of and from any and all liabilities and claims related to the sale of the mining machines.