Core Viewpoint - Turbo Energy, S.A. held an Extraordinary General Meeting of Shareholders on December 18, 2024, where significant proposals were approved, including changes to the board and equity incentive plan [1][2]. Group 1: Meeting Outcomes - A total of 51,177,950 ordinary shares, representing 92.80% of the issued and outstanding share capital, were present at the meeting, establishing a quorum [2]. - The board of directors will increase from seven to eight members, with Mr. Julian Groves appointed as a new executive director until the next annual general meeting [3]. - Deloitte was ratified as the Company's Spanish public accounting firm for the fiscal year ending December 31, 2024 [3]. - An amendment to the Turbo Energy, S.A. 2023 Equity Incentive Plan was approved, increasing the total number of ordinary shares available for grant from 1,900,000 to 5,500,000, with automatic annual increases starting January 1, 2026 [3]. - Powers were granted for the execution and notarization of resolutions necessary for formalization and registration in the Mercantile Registry [3]. - The minutes of the meeting were read and approved [3]. Group 2: Company Overview - Turbo Energy, founded in 2013, specializes in AI-optimized solar energy storage technologies and solutions, serving residential, commercial, and industrial users across Europe, North America, and South America [4]. - The company’s flagship product, SUNBOX, is noted as one of the first high-performance, competitively priced all-in-one home solar energy storage systems, featuring patented EV charging capability and AI processes for solar energy management [4]. - Turbo Energy is a subsidiary of Umbrella Global Energy, S.A., a collective of solar energy-focused companies [4].

Core Insights - Turbo Energy, S.A. provided an update on the impact of the flash flooding disaster in Valencia, which occurred on October 29, 2024, resulting in over 200 fatalities and significant damage to infrastructure [1] - The company's headquarters remained undamaged, but its warehousing was affected, leading to a loss of inventory valued at approximately $2.3 million, which is fully covered by insurance [1] - Turbo Energy is optimistic about its growth and geographic expansion in 2025, aiming to maintain its reputation as a leader in solar energy storage technologies [3] Company Overview - Founded in 2013, Turbo Energy specializes in AI-optimized solar energy storage technologies, offering scalable solutions for residential, commercial, and industrial markets [4] - The company's flagship product, SUNBOX, is noted for being one of the first high-performance, competitively priced all-in-one home solar energy storage systems, featuring patented EV charging capabilities [4] - Turbo Energy operates as a subsidiary of Umbrella Global Energy, S.A., a collective focused on solar energy solutions [4]

VALENCIA, Spain, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Mariano Soria, Chief Executive Officer of Turbo Energy, S.A. (NASDAQ:TURB) ("Turbo Energy" or the "Company"), a global provider of leading-edge, AIoptimized solar energy storage technologies and solutions, today issued a formal operational update to the Company's shareholders on Turbo Energy's business expansion strategies and key global growth objectives for the coming year. Soria stated: "On September 26, 2024, we will celebrate Turbo Energy's one-year a ...

1. To elect seven persons to the Board of Directors of the Company, each to serve until the next annual general meeting of shareholders, or until such person's successor is duly elected and qualified or until his or her earlier death, resignation, retirement, disqualification or removal; 2. To ratify the appointment of TAAD, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024; 3. To assess and, where appropriate, approve the individual annual accou ...

Page Annual Report on Form 20-F Year Ended December 31, 2023 TABLE OF CONTENTS | --- | --- | --- | |------------|-------------------------------------------------------------------|-------| | PART I | | | | | | | | ITEM 1. | IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS | 1 | | ITEM 2. | OFFER STATISTICS AND EXPECTED TIMETABLE | 1 | | | | | | ITEM 3. | KEY INFORMATION | 1 | | | | | | | A. RESERVED | 1 | | | B. Capitalization and Indebtedness | 1 | | | C. Reasons for the Offer and Use of Proceeds | 1 ...

Exhibit 99.1 INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS TURBO ENERGY, S.A. Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2023 and 2022 (Unaudited) (Expressed in Euro) | Condensed Interim Consolidated Statements of Financial Position | F-2 | | --- | --- | | Condensed Interim Consolidated Statements of Operations | F-3 | | Condensed Interim Consolidated Statements of Shareholders' Equity | F-4 | | Condensed Interim Consolidated Statements of Cash Flo ...