Stem enters $30M at-the-market equity offering with Jefferies

STEM, INC.

Enters Open Market Sales Agreement with Jefferies LLC to sell up to $30M of common stock at prevailing market prices.
Shares may be sold in ordinary brokers' transactions or block trades on NYSE; company has no obligation to sell.
Jefferies will receive a commission of up to 3.0% of gross proceeds from any sales.
Offers made under existing S-3 registration statement (no. 333-291820) declared effective Dec 11, 2025.

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