On May 28, 2026, Nextpower Inc., a Delaware corporation (the "Company") and Nextpower LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company ("Buyer"), entered into an equity purchase agreement (the "Equity Purchase Agreement") with Prevalon Energy LLC, a Delaware limited liability company ("Prevalon") and Emerald Energy Storage LLC, a Delaware limited liability company ("Seller"), pursuant to which Buyer has agreed to purchase 100% of the issued and outstanding equity interests of Prevalon from Seller for total consideration of up to $365 million, consisting of (i) approximately $150 million in cash consideration to be paid at closing, (ii) $50 million in stock consideration consisting of shares of Class A common stock of the Company ("Company Common Stock") to be issued one year after closing and priced at the average of the daily volume-weighted average prices for Company Common Stock on the Nasdaq Stock Market LLC for each of the 60 consecutive complete trading days ending with May 27, 2026, and (iii) up to $165 million of contingent cash consideration, subject to the terms and conditions of the Equity Purchase Agreement.