Beijing, October 27, 2026 / PRNewswire / -- VNET Group, Inc. (Nasdaq ticker: VNET) (hereinafter referred to as “VNET” or “the Company”) announced today that it has repurchased approximately $75.3 million of the principal amount of its outstanding 2.00% convertible preferred notes (maturing in 2027). The total principal amount of these notes prior to the repurchase was $250 million, and the repurchase represents about 30% of the outstanding notes. The repurchase was completed through a private negotiated transaction, with the cash consideration (including accrued interest) totaling approximately $80 million.

This press release does not constitute an offer to sell these securities, nor does it constitute an invitation to purchase these securities; in any state or other jurisdiction, it is illegal to sell these securities if such an offer, invitation, or sale is made before registration or qualification in accordance with the securities laws of that state or jurisdiction. This press release also does not constitute an offer to purchase or a notice of redemption for any of the company's outstanding notes.

About VNET

VNET Group, Inc is a leading provider of operator-neutral and cloud-neutral internet data center services in China. VNET offers hosting and related services, including IDC services, cloud services, and enterprise VPN services, to enhance the reliability, security, and speed of customers' internet infrastructure. Customers can place their servers and devices in the data centers of VNET and connect to China's internet backbone network. VNET operates in over 30 cities across China, serving more than 7,000 hosting and related enterprise customers across various industries, ranging from internet companies, government agencies to blue-chip enterprises as well as small and medium-sized businesses.

Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements are made under the ‘Safe Harbor’ provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements can be identified by words such as ‘will’, ‘expect’, ‘anticipate’, ‘future’, ‘intend’, ‘plan’, ‘target’, ‘believe’, ‘estimate’, and similar expressions. In addition to other content, the management’s quotes in this announcement, as well as the strategic and operational plans of VNET, contain forward-looking statements. VNET may also make written or oral forward-looking statements in reports submitted to or provided to the U.S. Securities and Exchange Commission, annual shareholder reports, press releases, and other written materials, as well as in oral statements made by its executives, directors, or employees to third parties. Statements that are not historical facts, including those regarding VNET’s beliefs and expectations, are considered forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and various factors could cause actual results to differ significantly from those contained in any forward-looking statements. These factors include, but are not limited to: VNET’s objectives and strategies; VNET’s liquidity situation; VNET’s expansion plans; expected growth in the data center services market; expected demand for and market acceptance of VNET’s services; the expectation of maintaining and strengthening customer relationships; VNET’s plans to invest in research and development to enhance solution and service capabilities; and the general economic and business conditions in the regions where VNET provides solutions and services. For more information regarding these and other risks, please refer to the reports submitted to or provided to the U.S. Securities and Exchange Commission by VNET. All information provided in this press release is as of the date of issuance, and except as required by applicable laws, VNET assumes no obligation to update such information.

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