Ebusco obtains a EUR 5.1 million working capital bridge loan from Heights, De Engh, PBH and N-Works

Deurne, 3 December 2025 – Ebusco Holding N.V. (Euronext: EBUS) announces today that Ebusco B.V. has obtained a EUR 5.1 million working capital bridge loan to safeguard the ongoing delivery of its buses.

On 3 November 2025 Ebusco reported that its liquidity constraints continue to persist and that it continues to do its utmost to implement remedial actions to address its liquidity and operational challenges. Key elements of these remedial actions are (i) the EUR 9 million working capital facility that has been made available by one of Ebusco’s partners in China and (ii) the framework agreement with a Chinese contract manufacturer under which inventories related to Ebusco 3.0 buses are expected to be purchased and financed locally. As of today, approximately EUR 4 million of the EUR 9 million working capital facility remains undrawn.

The implementation of the remedial actions referred to above is somewhat delayed. The discussions are ongoing based on good relationships with the Chinese partners and Ebusco is confident on realizing the desired outcome.

In order not to delay its bus delivery schedule and to avoid any corresponding contractual penalties for late delivery, Ebusco has now secured a working capital bridge loan of EUR 5.1 million in total (the Loan) from CVI Investments Inc., an entity managed by Heights Capital Management, Inc. (Heights), De Engh B.V. (De Engh), Peter Bijvelds Holding Erp B.V. (PBH) and N-Works B.V., which is the personal holding company of Ebusco’s a.i. CFO Roel Nagelmaeker (N-Works). All the lenders under the Loan are also shareholders of Ebusco.

The proceeds of the Loan will allow Ebusco to safeguard the ongoing delivery of its buses on time, which will result in a corresponding conversion of working capital into cash over time, and assists in the ongoing stabilization of Ebusco. Ebusco reiterates its guidance for Q4 2025 to deliver at least an equal number of buses as in Q3 2025 (39).

The Loan, which contains customary terms and conditions for a loan of this nature, will be repaid by Ebusco over time through the cash proceeds from bus deliveries and has a final maturity date of 1 May 2026. In the event of any outstanding principal amount on the final maturity date, such amount (including any accrued interest and any unpaid fees) will mandatorily convert into Ebusco shares at a conversion price that equals a 15% discount to the 5-business day Volume Weighted Average Price of the Ebusco shares preceding the final maturity date.

Business Update prior to the AGM

Ebusco is expected to provide a brief business update prior to the Annual General Meeting of Shareholders, which will take place on 16 December 2025 (the AGM), which is then also expected to include some selected information on the company’s financial position as per 30 September 2025.

Calendar for the remainder of the year