Azio AI regains Nasdaq $2.5M equity listing compliance after Q3 merger with Azio AI Corp

Envirotech Vehicles, Inc.

• Nasdaq notified the company on April 29, 2026 that stockholders' equity was below the $2,500,000 required by Listing Rule 5550(b)(1) for the Capital Market.
• Nasdaq granted an extension on June 18, 2026 requiring a public report by October 26, 2026 showing compliance; this filing is that report.
• Q3 2026 business combination with Azio AI Corporation issued 2,460,351 common shares and 973,450 Series A Non-Voting Convertible Preferred to Legacy Azio holders.
• Also in Q3: warrants exercised for 450,000 shares and ~920,000 shares sold under the YA II PN standby equity agreement, proceeds used to reduce debenture principal.
• Nasdaq continues monitoring; if equity compliance is not evidenced at the next periodic report, the company may face delisting.