Elong Power Enters Warrant Inducement Agreement With Institutional Investors To Purchase 1,808,803 Shares At An Amended Exercise Price Of $1.80/Share

Elong Power Holding Limited (NASDAQ:ELPW) ("Elong Power" or the "Company"), a comprehensive provider dedicated to the R&D, sales and scenario-oriented system solutions of lithium-ion battery energy storage systems, today announced it has entered into a warrant inducement agreement with certain existing institutional investors for the immediate exercise of certain outstanding Ordinary Shares Purchase Warrants previously issued by the Company including (i) ordinary shares purchase warrants on May 18, 2026, pursuant to a securities purchase agreement dated May 15, 2026 (the "May 2026 Warrants"), (ii) ordinary shares purchase warrants on July 13, 2026, pursuant to a securities purchase agreement dated July 10, 2026 (the "July 2026 Warrants"), and (iii) ordinary shares purchase warrants on August 4, 2026, pursuant to a securities purchase agreement dated August 3, 2026 (the "August 2026 Warrants", collectively with the May 2026 Warrants and the July 2026 Warrants, the "Existing Warrants"). Pursuant to the warrant inducement agreement, the investors have agreed to exercise certain Existing Warrants to purchase an aggregate of 1,808,803 Class A Ordinary Shares (the "Ordinary Shares") at an amended exercise price of $1.80. The Class A Ordinary Shares issuable upon exercise of the Existing Warrants are registered pursuant to certain registration statements on Form F-1 which were declared effective by the Securities and Exchange Commission (SEC) and remain currently effective. The gross proceeds from the exercise of the Existing Warrants are expected to be approximately $3.26 million, prior to deducting placement agent fees and estimated offering expenses.