CETY · Clean Energy Technologies, Inc.

The Board of Directors determined on May 1, 2026, that the Company's accounting practices for certain long-term receivables and contract assets—specifically their classification, valuation, collectability assessment, revenue recognition timing, and related interest income—did not comply with U.S. GAAP over the period from January 1, 2022, to September 30, 2025. This conclusion renders all financial statements for those Impacted Periods unreliable, extending to any associated investor communications like earnings releases and presentations. For investors, this triggers a need to disregard prior reported results, potentially affecting historical trend analysis, valuation multiples, and compliance assessments. The Company is proactively addressing this by filing amended Form 10-K/A for fiscal years 2023 and 2024, and 10-Q/A for quarters ended March 31, June 30, and September 30, 2025, to provide restated figures with corrected accounting treatments. Notably, the Company states these errors are confined to historical balance sheet items and do not influence ongoing operations or core business activities, suggesting no immediate operational disruptions. The matter was reviewed by key executives including CEO and Board member Kambiz Mahdi, CFO and Board member Calvin Pang, and Lauren Morrison, Audit Committee Chair and Board member, indicating thorough internal governance involvement prior to public disclosure.