Recon Technology, Ltd Announces $100 Million "At-the-Market" Equity Offering Program

Recon Technology, Ltd ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that it has entered into an At-the-Market ("ATM") Issuance Sales Agreement (the "Agreement") dated July 28, 2026, under which the Company may, from time to time during the term of the Agreement, offer and sell the Company's Class A ordinary shares (the "Shares"), par value $0.0001 per share, having an aggregate value of up to $100 million, to or through Pacific Century Securities, LLC (the "Sales Agent") as the Company's exclusive sales agent or principal. Sales of Shares, if any, will be made at or related to then-prevailing market prices and, as a result, prices may vary. The volume and timing of sales under the ATM Program (the "ATM Program") will be determined at the Company's discretion. The Company expects to use any proceeds from the ATM Program for general corporate purposes, which include working capital, operating expenses, capital expenditures, potential acquisitions, business development activities, and other strategic initiatives in line with the Company's growth plans. Pacific Century Securities, LLC is serving as the exclusive sales agent for the ATM Program. Kaufman & Canoles, P.C. is acting as U.S. counsel to the Company. McCarter & English, LLP is acting as U.S. counsel to the Sales Agent. Under the Agreement, the Sales Agent may sell the Shares as the Company's exclusive sales agent or principal and by methods deemed to be an "at the market offering" as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. The maximum offering amount in the ATM Program will be $100 million or the maximum offering dollar amount permitted under the Company's then current shelf registration capacity on the effective Registration Statement (defined below), whichever is lesser. In no event shall the aggregate number of Shares sold in the ATM Program exceed the number of the Company's authorized but unissued Class A ordinary shares. The Shares will be offered under the Company's existing effective shelf registration statement on Form F-3 (No. 333-292540) (the "Registration Statement") filed with the U.S. Securities and Exchange Commission ("SEC"). A prospectus supplement dated July 28, 2026 related to the offering has been filed with the SEC. Any offer, solicitation or sale will be made only by means of the prospectus supplement and the accompanying prospectus. Electronic copies of the prospectus supplement and the accompanying prospectus may be obtained from the SEC's website at www.sec.gov or by contacting Pacific Century Securities, LLC, Attention: Syndicate Department, 747 3rd Ave, STE 2101, New York, NY 10017, by email at [email protected] . Current and potential investors should read the prospectus in the registration statement, and the prospectus supplement relating to the ATM Program and other documents the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more complete information about the Company and the ATM Program. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor may there be any sale of the Company's securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any state or jurisdiction.