Sono Motors

February 07, 2024

Court confirmation of Sono Motors GmbH’s insolvency and restructuring planYorkville investment closed following fulfillment of all conditions precedent; Sono Motors GmbH expected to exit its self-administration proceedings on February 29, 2024Restructured leadership team: Long-term Sono Motors solar-mobility pioneers Jan Schiermeister and Denis Azhar become new Managing Directors of Sono Motors GmbHStrong focus: launch of solar retrofit solution the “Solar Bus Kit” and driving forward development of the company’s proprietary solar technology, intended for a broad range of transportation vehiclesMunich, February 7, 2024 – Sono Motors GmbH, the Munich-based solar technology company and subsidiary of Sono Group N.V., is happy to announce the confirmation of its insolvency and restructuring plan by the insolvency court of the local court of Munich, Germany, as well as the closing of its recently announced investor deal with YA II PN, Ltd. (“Yorkville”), both important milestones in the company's successful navigation towards restructuring and its imminent exit from its self-administration proceedings. Since the beginning of the year, Sono Motors GmbH has been implementing its new business model and corporate structure, driven by its new leadership team, including managing directors Jan Schiermeister and Denis Azhar who are both long-term members of Sono Motors GmbH’s solar mobility journey. Sono Motors GmbH remains committed to solar-based, sustainable transportation solutions and its main objective of contributing to the mobility transition. These forward-looking statements are statements regarding the intentions, beliefs, or current expectations of Sono Motors GmbH and Sono Group N.V. (together, the “companies”). Sono Motors © 2024 Sono Motors © 2024 Sono Motors © 2024

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