On September 28, 2026, T1 Energy Inc. (the "Company") entered into a note purchase agreement (the "Note Purchase Agreement") with a qualified institutional buyer that is an existing shareholder of the Company and new convertible notes investor (the "Purchaser") for the sale of an additional $50.0 million in aggregate principal amount of the Company’s 4.75% Convertible Senior notes due 2031 (the "Convertible Notes"). The closing of the private placement is expected to occur on September 30, 2026 (such date, the "Closing Date"), subject to customary closing conditions.

The gross proceeds from the sale of the additional Convertible Notes are expected to be approximately $50.4 million (which is equal to the principal amount of the Convertible Notes plus accrued interest from July 31, 2026, the date on which the Existing Notes (as defined below) were originally issued), prior to deducting fees and expenses. The Company expects to use the net proceeds from the private placement for (i) construction and development of infrastructure and purchase of production line equipment relating to Phase 1 of its G2_Austin solar cell fab ("G2_Austin") and (ii) general corporate purposes. The net proceeds of the private placement are intended as a bridge to a comprehensive financing solution, which includes a significant debt component, to fund the remaining capital expenditures for Phase 1 of G2_Austin that the Company continues to target.