Stem approves 1-for-20 reverse stock split, authorized shares cut to 250M, effective June 23

STEM, INC.

Reverse split ratio of 1-for-20; effective 12:01 a.m. ET on June 23, 2025.
Authorized common shares reduced from 500 million to 250 million.
No fractional shares; cash paid in lieu based on June 20 closing price.
Split-adjusted trading begins June 23 under new CUSIP 85859N300.
Proportionate adjustments made to equity awards, warrants, convertible notes, and capped calls.

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