SSM · Sono Group N.V.

Sono Group N.V. has fully executed its strategic exit from the legacy solar operations via the SPA dated May 4, 2026, transferring 100% ownership of Sono Motors GmbH—previously its sole subsidiary focused on solar vehicle technology—to two German entities owned by managing directors Denis Azhar and Jan Schiermeister. The transaction, at a nominal €2 total consideration, eliminates all equity exposure and control, while assigning a €10.5 million shareholder loan claim under restrictive terms: a two-year repayment standstill and insolvency subordination ensuring no priority over other creditors. Ancillary agreements terminate the Corporate Services Agreement (providing accounting and reporting services) retroactively from April 30, 2026, and aim to shift the Munich premises lease liability to Sono Motors by June 30, 2026, with a termination right if unsuccessful. Critically, Sono Group retains a perpetual, royalty-free 'Sono' brand license for its listing and ticker continuity. This amendment discloses that exit costs are confined to professional fees, offset by Treasury Strategy cash flows, with no material proceeds or further charges anticipated. The move completes the March 2026 supervisory board resolution to cease solar funding, enabling full pivot to a Bitcoin-focused treasury model under an ISDA framework, as highlighted in the May 8 press release. Investors should note planned shareholder ratification of this strategy via a forthcoming proxy statement.