Mr. Paul Dickson reports

ENERGY PLUG TECHNOLOGIES CORP. ENGAGES ATLAS STRATEGIC ADVISORS AS STRATEGIC ADVISORS

Energy Plug Technologies Corp. has engaged Atlas Strategic Advisors Inc., a leading government relations and strategic advisory firm, as its strategic adviser.

Cody Mallette, managing director of Atlas, brings extensive experience in government relations, regulatory affairs and strategic advisory, having held senior positions in the Office of the Premier of Ontario. In his role at Atlas, Mr. Mallette has advised some of Canada's largest corporate and institutional clients on navigating government policy, regulatory frameworks and market access strategies. As managing director, Mr. Mallette helps lead a team specializing in strategic engagement with all levels of government to support business growth and the development of public policy.

Under the terms of the engagement, the company has granted an aggregate 600,000 restricted share units to Mr. Mallette and to Atlas directly. The RSUs are valid for a five-year term and vest upon certain milestones, which align with the long-term interests of the company's growth objectives.

"We are excited to welcome Atlas Strategic Advisors and Cody Mallette as our strategic advisers," said Paul Dickson, chief executive officer of the company. "Their expertise in navigating government and regulatory landscapes will be invaluable as we advance our corporate initiatives and market positioning."

The engagement with Atlas reflects the company's commitment to strengthening its strategic and regulatory positioning in key markets, supporting long-term shareholder value.

Equity grants

The company has further granted an additional aggregate amount of 1.1 million RSUs to consultants of the company and an aggregate 1.5 million stock options of the company to certain officers and consultants of the company. The RSUs are valid for a five-year term and vest upon certain milestones, which align with the company's growth objectives. Five hundred thousand options are exercisable at a price of 18 cents per share, and one million options are exercisable at a price of 16.5 cents per share. The RSUs and options are granted and governed by the company's RSU and stock option plans, approved by shareholders at the company's annual general meeting held on March 17, 2025. The RSUs and options are subject to a statutory hold period of four months and one day in accordance with Canadian securities laws.

Warrant amendment

Further, the company shall amend certain common share purchase warrants originally issued by way of acquisition of a 100-per-cent interest in True North Battery Storage Corp.

The amendment consists of an aggregate 7.8 million warrants issued on Sept. 14, 2023, having an exercise price of 10 cents, whereby the expiry date of the warrants will be extended one additional year from Sept. 14, 2025, to Sept. 14, 2026. The exercise price shall remain the same.

The company will not be sending out new warrant certificates pursuant to the amendment unless requested by the relevant holders. The amendment remains subject to the approval of the Canadian Securities Exchange.

About Energy Plug Technologies Corp.

Energy Plug is a leader in secure and resilient energy storage solutions, advancing next-generation battery technologies for residential, commercial and utility applications. The company is committed to enhancing grid stability, cybersecurity and sustainable energy adoption, working in collaboration with leading technology firms, government agencies and indigenous communities.

We seek Safe Harbor.