Envirotech Vehicles Orders 3 Megawatts of Equipment from Azio AI

Envirotech Vehicles has placed an order with Azio AI for approximately 3 megawatts of modular digital infrastructure equipment intended for deployment at the Company's South Texas energy-integrated data center pilot site. This order follows the Company's previously announced financing transaction, pursuant to which Envirotech entered into a definitive agreement with YA II PN to receive up to $10.5 million in gross proceeds in exchange for the issuance to Buyer of up to $11.0 million in aggregate principal amount of debentures in two tranches. The first tranche of $4.0 million in aggregate principal amount of the debentures was issued and sold by the Company to the Buyer on March 6, 2026, resulting in gross proceeds to the Company of $3.8 million. The closing of the remaining $7.0 million in aggregate principal amount of the debentures will occur on or before the first business day after the effective date of the registration statement to be filed by the Company with the U.S. Securities and Exchange Commission to register for resale by the Buyer no less than 10 million shares of the Company's common stock issuable pursuant to the Amended and Restated Standby Equity Purchase Agreement, dated October 31, 2024, by and between the Company and the Buyer, as amended and supplemented by the Supplemental Agreement, dated February 24, 2025, and the shares of the Company's common stock issuable upon exercise of the warrants issued to the Buyer at the closing of the initial tranche of debentures as a commitment fee for the financing and subject to the satisfaction or waiver of customary closing conditions. For further information regarding the debenture financing, please refer to the Current Report on Form 8-K filed by the Company with the SEC on March 9, 2026.