Ebusco secures production support for Rouen order; additional short-term funding required

Deurne, 9 October 2026 – Ebusco Holding N.V. (Euronext: EBUS) provides a brief business update ahead of its Extraordinary General Meeting of Shareholders, which is scheduled for later today

Working Capital and Liquidity

Gotion, Ebusco’s strategic partner and shareholder, has approved EUR 5.86 million of support for the production of the remaining buses under the existing order of Rouen, through a Gotion group company. This support is dedicated to materials and manufacturing and will be paid directly to suppliers and the company’s contract manufacturers. This represents important support for the continued execution of the Rouen order and safeguards the production of the remaining buses. The support is specifically allocated to production and does not fund Ebusco’s operating expenses.

To fund its operating expenses, Ebusco requires significant additional short-term funding. Ebusco is in discussions with a number of shareholders on such funding. No binding commitment has been obtained to date. Ebusco’s available liquidity is sufficient to fund its operations for a short period only.

Furthermore, Ebusco reported earlier that it was working towards a sustainable working capital solution through a c. €30 million LC (Letter of Credit) facility with one of its Asian partners, to be supported by a corporate guarantee from Gotion (the LC Facility). Gotion continues to support the provision of such a guarantee, however, the guarantee and the LC Facility can only be effectuated in the context of a concrete new bus order and will be subject to Gotion’s internal approval and final documentation. Consequently, completion and timing of the LC Facility remain uncertain.

Should there be no funding in the coming weeks for its operating expenses, there will be material uncertainty about Ebusco’s ability to continue as a going concern.

Update on the Potential Strategic Option

Ebusco remains open to explore alternative strategic options for both its bus and energy businesses.

As reported before, discussions are ongoing about a potential strategic transaction, which may involve Ebusco’s bus operations, via a joint venture structure or any other type of transaction. These discussions are in an early and non-binding stage.

Operational Update and Cost Reduction Measures

Ebusco delivered 3 buses in Q3 2026, bringing the year-to-date total to 19.

As of 30 September 2026, the company’s order book comprised 195 buses, consisting of 77 firm orders and 118 call-off orders.

In addition, Ebusco has an active tender pipeline at the end of September 2026, comprising 173 buses in ongoing tender processes for existing and new clients.

Further progress continues to be made in terms of rightsizing the organization and reducing the operating expenditures, which is largely the result of the completed transition to an OED production model and a reduction in the number of employees. The number of FTEs at 30 September 2026 was 230, down from 248 at 30 June 2026 (or -7.3%).

Other

Under the terms of the 2023 EUR 36.8 million convertible bond agreement with Heights Capital Management, Inc. (the Heights Convertible Bond) the final amount outstanding is approximately EUR 3.1 million. Heights has recently elected to defer the conversion of this final amount from 21 September 2026 to a later point in time.