IF YOU PURCHASED OR OTHERWISE ACQUIRED SHARES OF SINGULARITY FUTURE TECHNOLOGY LTD. (F/K/A SINO-GLOBAL SHIPPING AMERICA LTD.) ("SINGULARITY") BETWEEN FEBRUARY 2, 2021 AND FEBRUARY 24, 2023, YOU MAY BE ELIGIBLE TO PARTICIPATE IN A PROPOSED CLASS ACTION SETTLEMENT

COSTA MESA, Calif., Aug. 18, 2025 /PRNewswire/ -- The following statement is being issued by Simpluris, Inc., court-appointed settlement administrator, regarding the proposed settlement in Gao v. Singularity Future Technology Ltd. et al., No. 1:22-cv-07499 (E.D.N.Y.).

NOTICE OF PROPOSED CLASS ACTION SETTLEMENT

For more information, visit www.SingularitySecuritiesSettlement.com

A proposed Settlement has been reached in a class action lawsuit against Singularity. The individuals who brought the lawsuit claim that certain of Singularity's actions violated federal securities laws.

Singularity denies that it did anything wrong, and the Court has not decided who is right. The parties have agreed to settle the lawsuit to avoid the risks, disruption, and uncertainties of continued litigation. A copy of the Settlement is available online.

WHO IS INLCUDED IN THE SETTLEMENT? The Settlement is for all persons or entities who purchased or otherwise acquired Singularity securities between February 2, 2021 and February 24, 2023.

The Court has appointed experienced attorneys to represent the Class. These attorneys are called "Class Counsel."

WHAT DOES THE SETTLEMENT PROVIDE? Singularity will create a Settlement Fund of at least $6,500,000. Part of the Settlement Fund will be used to pay for the fees and costs of litigating the lawsuit and administering the Settlement. The rest of the Settlement Fund will be distributed equally to Class Members who file a valid claim on time.

HOW DO I RECEIVE A BENEFIT? Visit www.SingularitySecuritiesSettlement.com or scan the QR code below to submit your claim. You may also call 1-844-496-0761 to request a paper copy of the Claim Form. Your claim must be submitted online or mailed by January 16, 2026.

YOUR RIGHTS MAY BE AFFECTED. If you do not want to be legally bound by the Settlement, you must exclude yourself by December 3, 2025. Unless you exclude yourself, you will not be able to sue Singularity for the claims made in this lawsuit. If you exclude yourself, you cannot get a payment from this Settlement. If you want to object to the Settlement, you may file an objection by December 3, 2025. Instructions on how to exclude yourself or object are available online.

WHEN WILL THE COURT DECIDE WHETHER TO APPROVE THE SETTLEMENT? The Court will hold a hearing on December 17, 2025. The Court will approve the Settlement if it decides that the Settlement is fair, adequate, and reasonable. The Court will also consider Class Counsel's request for attorneys' fees and expenses; service awards to the people who brought the lawsuit; and other costs. If there are objections to the Settlement, they will also be considered. You may attend the hearing at your own cost, but you do not have to.

For more information, visit www.SingularitySecuritiesSettlement.com

SOURCE Simpluris Inc.