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Sono Group NV Trading Halted Due to Volatility Trading Pause

Sono Group NV trading halted, volatility trading pause

Sono Motors Discontinues Funding Commitments to Subsidiary

Following a thorough review of all available strategic pathways for Sono Motors, the company's management board, with supervisory board approval, has resolved to discontinue all current and future funding commitments to the subsidiary and to initiate the transition of legacy solar operations, while continuing to evaluate strategic alternatives for those assets where appropriate. The boards concluded, however, that persistent structural headwinds in the commercial vehicle solar sector, limited commercial partner traction, and the absence of a near-to-medium-term path to sustainable profitability made continued investment no longer in the best interests of the company's stakeholders. This transition is expected to substantially reduce operational cash outflows and is aimed at reducing recurring losses, positioning the company's balance sheet for the next strategic phase. "The people of Sono Solar built something genuinely differentiated, a technology recognized at the highest levels of our industry. This decision is not a reflection of their efforts. It is a reflection of market realities and our fiduciary responsibility to shareholders," said Kevin McGurn, managing director and CEO of Sono Group. "We are choosing to stop funding losses we cannot sustain and to redirect the Company's resources toward a strategy we believe offers a clearer and more credible path to generating cash flow and long-term value, executed with institutional discipline and the governance rigor."