Proposal to authorize the Management Board to issue shares approved 

Deurne, 29 January 2024 – Ebusco (Euronext: EBUS), a pioneer and frontrunner in the development of electric buses, charging systems, and energy storage, announced that shareholders adopted the proposal to authorize the Management Board to issue shares, to grant rights to subscribe for shares and to limit or exclude pre-emptive rights.

As announced in separate press releases on 13 December 2023 and 14 December 2023, the Company has launched a comprehensive package which comprises an accelerated bookbuild offering of newly issued ordinary shares, and a placement of a private convertible bond to an entity managed by Heights Capital Management, Inc. (“Heights”). In respect of the convertible bond placement, the Company has entered into a binding agreement with Heights for an amortising convertible bond financing which will be maturing in December 2026 (the “Convertible Bond”).

During the Extraordinary General Meeting on 29 January 2024 the shareholders adopted the proposal to authorize the Company’s management board for a period of 18 months following the date of the EGM as the competent body to issue Shares and grant rights to subscribe for Shares and exclude pre-emptive rights relating thereto for purposes of the Convertible Bond.

Peter Bijvelds, co-CEO of Ebusco, says: “We are grateful for the trust our shareholders have shown during this process. This approval concludes the capital increase of in total 59.2 million which strengthens our financial position. Ebusco is now focusing on 2024 and the adapted assembly strategy and is planning ahead for the future.”

The voting results will be published on the Ebusco investor website within 5 working days. The draft minutes of the meeting will be published on the company’s website within three months.

This press release contains inside information within the meaning of Article 7(1) of the European Market Abuse Regulation (MAR). This press release was distributed at 15:30 on January 29, 2024.