Turbo Energy Announces Results from Extraordinary General Meeting of Shareholders

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].