NEOV · NeoVolta Inc.

NeoVolta Inc. executed a significant restructuring of its joint venture, NeoVolta Power, LLC, originally formed with NPJV MANAGER LLC (NMC) and Can Current Corporation (CCC). The Amended and Restated Operating Agreement, effective April 15, 2026, removes NMC entirely, consolidating control with NeoVolta. This restructuring increases NeoVolta's authorized Class A Units to 80 and reduces the Board of Managers to three members, all designated by NeoVolta, thereby streamlining governance. CCC retains a reduced interest of 20 Class B Units and gains the right to appoint non-voting observers.

Concurrently, NeoVolta Power entered into an Asset Purchase Agreement to acquire manufacturing equipment from CCC for $9 million, payable in milestone-based installments tied to shipment, delivery, and commissioning. This acquisition supports the joint venture's purpose of owning and operating a domestic battery energy storage manufacturing facility in Georgia. Additionally, NeoVolta Inc. entered a Management Services Agreement with PotiSedge Technology Pte Ltd., issuing 1.2 million shares of common stock as compensation for sales and marketing services. The shares vest over 24 months, aligning PotiSedge's incentives with NeoVolta's long-term business development. The equity issuance was conducted under the Section 4(a)(2) exemption, with PotiSedge qualifying as an accredited investor.