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Press release content from Globe Newswire. The AP news staff was not involved in its creation. Net Element Releases Letter to Shareholders Net Element, Inc.March 12, 2021 GMT MIAMI, March 12, 2021 (GLOBE NEWSWIRE) via InvestorWire Net Element, Inc. (NASDAQ: NETE ) (“ Net Element ” or the “Company”), today issues the following update on the pending merger with privately held Mullen Technologies, Inc. (“Mullen”), a Southern California-based electric vehicle (“EV”) company, in a stock-for-stock reverse merger in which, subject to the merger being consummated, Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger Company. ADVERTISEMENT Dear Fellow Shareholders,

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