Zeo Energy to pay Piper Sandler $1.69M cash and 677,711 shares for buy-side advisory fee

Zeo Energy Corp.

• Cash payment of $1.6875 million plus 677,711 Class A shares to Piper Sandler as Heliogen Buyside Advisory Fee upon closing of Heliogen acquisition.
• Half of shares (338,855) subject to lockup until 45 days after Heliogen close (~Sept 22, 2025).
• Zeo to file resale registration statement by Sept 7, 2025 covering Piper Sandler shares and 9.93M shares for White Oak Capital.
• Piper Sandler releases Zeo from fee/expense claims upon receipt of fee and satisfaction of conditions.