Jiuzi Holdings Approves 1-For-40 Reverse Stock Split, Effective December 10, 2025

Jiuzi Holdings Inc. (NASDAQ:JZXN, the "Company" or "JZXN"))),  a leading new energy vehicle (NEV) dealership group operating under the brand name "Jiuzi" in China is reporting that its board of directors has approved a reverse stock split (the "Reverse Stock Split") of the Company's ordinary shares, a par value of US$0.00195 each (the "Ordinary Shares"), at a ratio of 1-for-40, with a post-Reverse Stock Split par value of US$0.078.

The Company is undertaking the Reverse Stock Split with the objective of meeting the minimum $1.00 per Ordinary Share bid requirement for maintaining the listing of the Ordinary Shares on The Nasdaq Capital Market.

The Reverse Stock Split will be effective at 04:01 p.m. (ET) on Wednesday, December 10, 2025 (the "Record Date") and the Ordinary Shares will begin trading on a split-adjusted basis when the Nasdaq Stock Market LLC opens for trading on Thursday, December 11, 2025. The Ordinary Shares will continue to trade on The Nasdaq Capital Market under the trading symbol "JZXN" but will trade under the following new CUSIP number: G51400 151.

The number of the Company's pre-Reverse Stock Split outstanding shares is 50,231,389 Ordinary Shares. As a result of the Reverse Stock Split, every 40 Ordinary Shares held as of the Record Date will be automatically combined into one Ordinary Share. The number of outstanding Ordinary Shares will be reduced from approximately 50,231,389 Ordinary Shares to approximately 1,255,785 Ordinary Shares. No fractional shares will be created or issued in connection with the reverse stock split.

The Reverse Stock Split will affect all holders of Ordinary Shares uniformly and will not affect any shareholder's percentage ownership interest in the Company.