Mr. Lu Shaoming of ZKE reports

ZTE (H.K.) LIMITED ANNOUNCES DISPOSITION OF COMMON SHARES OF ENABLENCE TECHNOLOGIES INC. AND FILING OF EARLY WARNING REPORT

On Oct. 20, 2026, ZTE (H.K.) Ltd. sold part of its holding, being 1,000 common shares, of Enablence Technologies Inc. through the facilities of the TSX Venture Exchange at a price of $6.30 per share, for aggregate gross proceeds of $6,300.

Immediately before the disposition, ZTE HK held 791,666 shares, representing approximately 3.26 per cent of the issued and outstanding shares. Immediately after the disposition, ZTE HK holds 790,666 shares, representing approximately 3.25 per cent of the issued and outstanding shares. These percentages are based on 24,298,195 shares issued and outstanding, as most recently reported by Enablence.

ZTE HK last filed an early warning report in respect of Enablence on Feb. 5, 2016, when it held 95 million shares (equivalent to 791,666 shares after Enablence's 1-for-120 share consolidation on Nov. 17, 2021), representing approximately 19.11 per cent of the shares then outstanding. ZTE HK did not acquire or dispose of any shares between that report and the disposition. Since February, 2016, ZTE HK's securityholding percentage has decreased, and has been less than 10 per cent since December, 2021, solely as a result of issuances of shares from treasury by Enablence and without any action being taken by ZTE HK. ZTE HK relied on the exemption in Section 6.1 of National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in respect of those decreases. As required by that section, ZTE HK is issuing this news release and filing an early warning report as a result of the disposition to reflect the changes in its securityholding percentage since February, 2016, including the decrease to less than 10 per cent.

ZTE HK acquired the shares for investment purposes. ZTE HK intends to dispose of some or all of its remaining shares from time to time, through the facilities of the TSXV, in privately negotiated transactions or otherwise, depending on market conditions and other factors. ZTE HK has no current intention to acquire additional securities of Enablence and has no other plans or intentions relating to the matters set out in Item 5 of Form 62-103F1. Following the filing of the early warning report, ZTE HK will not be required to file further early warning reports in respect of dispositions of its remaining shares.

In connection with its investment in February, 2016, ZTE HK entered into a voting agreement with Enablence and certain shareholders of Enablence providing for the nomination and election of one nominee of ZTE HK to the board of directors of Enablence for so long as ZTE HK and its affiliates owned 10 per cent or more of the outstanding shares. ZTE HK's nominee resigned from the board on Nov. 16, 2020, on which date ZTE HK also waived its right to nominate a director, and those provisions terminated in accordance with their terms when ZTE HK's holding decreased to less than 10 per cent in December, 2021. ZTE HK's right under its subscription agreement with Enablence to participate in future issuances of securities of Enablence, and the related covenants of Enablence, also terminated at that time.

This news release is issued under the early warning provisions of Canadian securities legislation (National Instrument 62-104 Take-Over Bids and Issuer Bids and NI 62-103). An early warning report will be filed with the applicable securities regulatory authorities and will be available under Enablence's profile on SEDAR+. A copy of the report may also be obtained by contacting Lu Shaoming, director of ZTE HK, at 852-2519-8993.

Enablence's head office is located at 390 March Rd., suite 119, Ottawa, Ont., K2K 0G7. ZTE HK is a company incorporated under the laws of Hong Kong and a wholly owned subsidiary of ZTE. Its principal business is overseas business platform and new business development. ZTE HK's address is units 1206-07, 12/F, Berkshire House, 25 Westlands Rd., Quarry Bay, Hong Kong.