Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that it has entered into the fourth amendment (the "Fourth Amendment") to the On-Rack Sales and Purchase Agreement (the "Purchase Agreement") dated November 6, 2024 for the acquisitions of on-rack crypto mining machines with an aggregate hashrate of 18 Exahash per second through issuance of Class A ordinary shares of the Company to the sellers (the "Share-Settled Transactions").

The Company announced signing of the Purchase Agreement on November 6, 2024, and amendments to the agreement on March 26, 2025, April 3, 2025 and June 4, 2025. The Fourth Amendment adjusted the split of hashrate represented by the crypto mining machines sold by certain sellers, including Golden TechGen Limited ("GT"), Fortune Peak Limited and Silver Crest Limited, and accordingly, adjusted the split of the number of Class A ordinary shares to be issued to these sellers at closing and the bonus shares that may be issued to these sellers upon the bonus triggering event as provided in the original Purchase Agreement. Upon closing of the Share-Settled Transactions as amended (and before completion of the transactions contemplated by the definitive agreement announced by the Company on June 2, 2025), GT, which is expected to be the largest seller in these transactions, will own approximately 19.85% of the Company's total outstanding shares. The total hashrate represented by the crypto mining machines sold by all sellers, the total number of Class A ordinary shares of the Company to be issued to all sellers at the closing and the total number of bonus shares to be issued to all sellers upon the bonus triggering event remain unchanged.

The closing of the Share-Settled Transactions is subject to certain closing conditions that are yet to be satisfied or waived and the Company is working with the relevant parties towards the closing of the Share-Settled Transactions. There can be no assurance that the closing conditions will be satisfied nor that the Share-Settled Transactions will be completed before the contemplated closing date stipulated in the Purchase Agreement or at all.