Dallas, October 5 (Reuters/ PRNewswire ) – Solidion Technology, Inc. (Nasdaq ticker: STI, hereinafter referred to as “Solidion Technology” or “the Company”) is a provider of advanced battery technology solutions. Today, the Company responded to the decision by the board of directors of Flux Power Holding, Inc. (Nasdaq ticker: FLUX, hereinafter referred to as “Flux Power” or “Flux”) to reject its previously announced acquisition proposal. Solidion believes that its offer is now final.

Solidion Technology, Chairman and Chief Executive Officer, stated: "Solidion strongly disagrees with the Board of Directors' claim that its proposal 'significantly underestimates' the company. This bid has taken into account the capital required to stabilize the business and the work needed to be carried out. Solidion has no intention of raising the bid at this time."

Winters continued, " Solidion has always been, and will always be, the type of opportunistic acquirer that we believe can complement and enhance existing technologies. In doing so, we will firmly safeguard shareholder value and will not pursue opportunities that are overpriced, difficult to fix, or unrelated to Solidion's growth strategy. We will continue to advance other opportunities in parallel to FLUX."

In Solidion, it seems that:

• Flux Power still faces an urgent need for capital, and therefore may need to issue shares at a significant discount: The use of private placements, equity credit lines, or other highly dilutive financing tools in such a difficult situation (which may have been utilized on October 2, 2026) will only accelerate the loss of shareholder value. If the board of directors believes that its strategy can bring higher shareholder value, Solidion believes that shareholders have a right to know how much additional capital is needed, where the funds will come from, and what cost this will impose on existing shareholders.
• To achieve its established goals, Flux Power requires at least $10 million in new capital: the only alternative financing path to accomplish this without causing significant dilution of existing shareholders is to be acquired by a larger company.
• Flux Power Continues to Face Pressure to List on NASDAQ: On July 24, 2026, Flux Power received a notice from NASDAQ stating that its common stock closing price had been below the minimum purchase price requirement of $1.00 for 30 consecutive trading days. As a result, it was granted an initial 180-day period to rectify the situation in order to comply with the regulations. Furthermore, if a reverse stock split were ultimately necessary, the risk of a decline in price after the split historically results in a decrease of 20% to 40% per share.
• The constantly changing macroeconomic environment remains a significant risk: The expectation of a reversal of adverse trends ignores the persistent uncertainties in the macroenvironment, especially the significant tariff exposure faced by their supply chains. To overcome these challenges, companies with stronger balance sheets are clearly better equipped to cope with macroeconomic uncertainties.

Solidion believes that the shareholders of Flux Power should be provided with sufficiently transparent information in order to make informed judgments regarding the ongoing operational capabilities of Flux. They should also be given a clear choice between 'a transaction that offers a higher degree of certainty' and 'continuing to fund a transformation that is highly uncertain in terms of ultimate cost, degree of dilution, and outcome.'

Regarding Solidion Technology, Inc.

Solidion is headquartered in Dallas, Texas, and has a pilot production facility in Dayton, Ohio. Its core business includes the manufacturing of battery materials and components, as well as the development and production of a new generation of batteries for energy storage systems. This includes serving the artificial intelligence (AI) data center market, as well as UPS systems for the electrification of ground, aviation, and marine transportation. Solidion holds over 385 patents, covering innovations such as high-capacity, silane-free silicon anodes that support graphene, biomass graphite, advanced lithium-sulfur, and lithium-metal technologies.

For more information, please visit www.solidiontech.com or contact the Investor Relations department.

Important Information Regarding the Proposed Transaction

Solidion has expressed its intention to acquire Flux Power Holdings, Inc. There is no guarantee that the two parties will sign a final agreement, nor is there any assurance that any transaction will ultimately be initiated or completed. This statement does not constitute any legally binding obligation, offer, or commitment on the part of either party. Unless and until a formal written acquisition agreement is fully signed, any past, present, or future expression of intent, proposal, discussion, or course of action will not give rise to any legally binding contract or obligation to proceed/complete the proposed transaction. Any proposed transaction will be subject to applicable laws and regulatory requirements, completion of due diligence, financing arrangements, required approvals, and other customary conditions.

This communication is for informational purposes only and does not constitute an offer to purchase or a solicitation to offer for sale of securities. Furthermore, this communication does not constitute an offer to purchase any securities or a solicitation to offer for sale of any securities. This communication relates to a proposal regarding the business merger transaction between Solidion and Flux. This communication cannot replace any proxy statements, registration statements, tender offers, prospectuses, or other documents that the parties may submit to the U.S. Securities and Exchange Commission (SEC) regarding the proposed transaction. This document does not constitute an offer to sell securities or a solicitation to purchase securities, and such offers, solicitations, or sales shall not be made in any jurisdiction where such offers, solicitations, or sales would be illegal prior to the registration or qualification required by securities laws. If and when the transaction is initiated, Solidion expects to submit the applicable materials to the U.S. Securities and Exchange Commission. Investors and security holders are advised to read the full text carefully once such materials become available, as they will contain important information.

Forward-looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Solidion Technology Inc. (Nasdaq ticker: STI) (hereinafter referred to as the “Company”, “Solidion”, “we”, or “us”) wishes to take advantage of the safe harbor provisions of that act, and therefore includes this cautionary statement herein. The terms “forecasts”, “believe”, “may”, “estimate”, “continue”, “anticipate”, “intend”, “should”, “plan”, “could”, “target”, “potential”, “is”, “likely”, “expect”, and similar expressions related to the Company are intended to identify forward-looking statements. Except as required by law, we have no obligation to publicly update any forward-looking statements due to new information, future developments, or other reasons.

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