.3

AMENDMENT TO INVESTMENT AGREEMENT

This Amendment to Investment Agreement (this “Amendment”) is made and entered into on February 13, 2026, by and among:

(a)           VNET GROUP, INC. (f.k.a. 21VIANET GROUP, INC.), an exempted company with limited liability incorporated under the Laws of the Cayman Islands (the “Company”),

(b)           VECTOR HOLDCO PTE. LTD., a private company limited by shares incorporated in Singapore (“Vector Holdco”),

(c)           BTO VECTOR FUND FD (CYM) L.P., a limited partnership established under the Laws of the Cayman Islands (“Vector Fund FD”, and together with Vector Holdco, the “Investors” and each an “Investor”), and

(d)           BLACKSTONE TACTICAL OPPORTUNITIES FUND – FD (CAYMAN) – NQ L.P. (the “VCOC Investor”).

(each an “Party” and collectively the “Parties”).

W I T N E S S E T H:

WHEREAS, the Parties have entered into the Investment Agreement dated as of January 28, 2022 (the “Original Agreement”), pursuant to which the Company issued to the Investors convertible notes due 2027 in an aggregate principal amount of US$250,000,000 dated as of February 4, 2022 (prior to giving effect to the Note Amendment and Restatement, the “Original Notes”);

WHEREAS, on or around the date hereof, the Company and Citibank, N.A., as trustee, will enter into an indenture (the “Indenture”), pursuant to which the Original Notes will be amended and restated (the “Note Amendment and Restatement”) to be represented by one or more notes in global form attached to the Indenture and will be traded on The Depository Trust Company (the “Amended Notes”);

WHEREAS, pursuant to Section 9.01 of the Original Agreement, the Original Agreement may be amended or supplemented in any and all respects only by written agreement of the Parties; and

WHEREAS, the Parties desire to, and hereby agree to, by execution and delivery of this Amendment, amend and supplement the Original Agreement as set forth herein.

NOW, THEREFORE, for and in consideration of the foregoing premises and the mutual promises, covenants and obligations contained herein, the parties hereto agree as follows:

“Accumulated Interest Amount” has the meaning ascribed to it in the Indenture.

“Event of Default” has the meaning ascribed to it in the Original Notes.

“Fundamental Adverse Regulatory Change” shall have the meaning set out in the Original Notes.

“Fundamental Change” has the meaning ascribed to it in the Original Notes.

“Incremental Amount” means, with respect to any Amended Note, an incremental amount (which shall not be less than zero), if applicable, that is equal to (a) fifty (50%) of the principal amount of such Amended Note, minus (b) the interest of such Amended Notes that has already been paid in cash, minus (c) the Accumulated Interest Amount on such Amended Note and any accrued and unpaid interest on such Amended Note to, but excluding, the date that the Redemption Price is paid in full.

“Indenture” means the Indenture by and between the Company and Citibank, N.A. dated February 13, 2026.

“Minimum Shareholding Event” has the meaning ascribed to it in the Indenture.

“Minimum Shareholding Event Effective Date” has the meaning ascribed to it in the Indenture.

“Original Issuance Date” means February 4, 2022.

“Paying Agent” has the meaning ascribed to it in the Indenture.

“Redemption Period” means (a) the period commencing on the date of a Fundamental Adverse Regulatory Change, a Fundamental Change or an Event of Default and ending on February 4, 2027, and (ii) the thirty-(30)-day period beginning on February 4, 2027 and ending on March 5, 2027.

“Redemption Price” means, with respect to any Amended Note, a price equal to the sum of:

“Transfer Event” has the meaning ascribed to it in the Indenture.

“Transfer Event Effective Date” has the meaning ascribed to it in the Indenture.

“Minimum Shareholding Requirement” means that the Minimum Shareholding Event Effective Date has not yet occurred.

“Notes” means the Original Notes as amended and restated in connection with the Note Amendment and Restatement (and whose terms, following the Note Amendment and Restatement, are set out in the Indenture). For the avoidance of doubt, following the Amendment and Restatement, the Notes shall mean the Amended Notes, as defined in Amendment to this Agreement dated February 13, 2026.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

Signature Page to Amendment to 2022 Investment Agreement

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

[Signature Page to Amendment to 2022 Investment Agreement]