SunScout New Zealand Advances 1.5 MWp Solar and Battery Storage Project at Te Akau

Proposed US$1.49 million project combines solar generation with 2 MWh of battery storage under a planned 50/50 ownership structure

Palmerston North, New Zealand, Oct. 20, 2026 -- SunScout Holding Limited (NYSE American/NYSE Texas: SNSC) (“SunScout” or the “Company”), a clean-technology company developing and commercializing autonomous, solar-powered robotic mowers and related solar energy solutions, today announced that its wholly-owned subsidiary, SunScout New Zealand Limited (“SunScout New Zealand”), has secured agreement with the landowners to advance the development of a solar generation and battery storage project at Te Akau, New Zealand (the “Te Akau Project”).

The Te Akau Project is planned to comprise approximately 1.5 megawatts peak (MWp) of ground-mounted solar generation using single-axis trackers, together with a 2 megawatt-hour (MWh) battery energy storage system. The indicative total project cost is NZ$2.64 million (approximately US$1.49 million), including solar generation equipment, battery storage, grid connection and development costs.

The agreed structure provides for a dedicated project company to be owned equally by SunScout New Zealand and the landowners. SunScout New Zealand will lead engineering, procurement and construction, arrange project financing and electricity sales, and undertake or procure ongoing operations and maintenance. The landowners will provide long-term access to the project site and take responsibility for obtaining resource consent, supported by SunScout’s technical team.

“This agreement gives us a clear commercial framework to move the Te Akau Project into its next stage of development,” said David Bennett, General Manager of SunScout New Zealand. “It brings together our engineering and project delivery capabilities with a landowner participation model that aligns both parties around the project’s long-term performance. Combining solar generation with battery storage also gives us greater flexibility in structuring electricity sales and managing the timing of energy delivery.”

The proposed financing structure targets approximately 70% project debt, with the remaining 30% funded through an equity contribution from SunScout New Zealand. These amounts remain indicative and subject to final project costs and financing arrangements.

Under the agreed commercial framework, SunScout New Zealand will receive 60% of distributable project cash until its equity contribution has been recovered, after which distributions will be shared equally with the landowners, with the detailed mechanics to be set out in the definitive documentation.

Electricity sales may be structured through power purchase agreements with private customers, sales to electricity retailers, wholesale market sales, or a combination of these arrangements.

The parties intend to progress definitive project documentation while undertaking the necessary consenting, technical, grid-connection and financing work. The Term Sheet contemplates that the parties will use reasonable endeavours to execute definitive documentation within 90 days, and permits SunScout New Zealand to withdraw from the Te Akau Project before the end of the feasibility period if it determines that the project is not commercially viable. Development remains subject to satisfactory feasibility results, resource consent, acceptable grid-connection terms, financing and completion of definitive agreements. A construction timetable has not yet been established.

About SunScout Holding Limited

SunScout Holding Limited is a clean-technology company engaged in the design, development, manufacturing, and commercialization of autonomous, solar-powered robotic mowers and related solar energy solutions. Powered entirely by solar energy through the Company’s proprietary deployable solar array (“DSA”) technology, SunScout’s robotic mowers operate independently of the electrical grid and feature autonomous navigation and AI-powered obstacle avoidance. SunScout also provides solar power development solutions, as well as engineering products and services, including precision fabrication, mechanical engineering, and project management. SunScout's mission is to eliminate reliance on fossil fuels in outdoor maintenance and mobile machinery, beginning with lawn care and expanding into adjacent applications.

For more information, please visit the Company’s website: https://www.snsc.ai.

Forward-Looking Statements

This announcement contains forward-looking statements concerning the proposed Te Akau Project, including its capacity, cost, ownership structure, financing, development and anticipated operations. These statements reflect the Company’s current expectations and are subject to risks and uncertainties. Investors can find many (but not all) of these statements by the use of words such as “believe,” “plan,” “expect,” “intend,” “should,” “seek,” “estimate,” “will,” “aim” and “anticipate,” or other similar expressions in this announcement. Actual outcomes may differ materially from the anticipated results due to factors including feasibility findings, consenting decisions, grid-connection requirements, financing availability, final commercial agreements, equipment costs and electricity market conditions. The Te Akau Project may be modified, delayed or discontinued. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Investors are encouraged to review other factors that may affect the Company’s future results in the registration statement and other filings with the U.S. Securities and Exchange Commission (the “SEC”). Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.

US dollar equivalents are provided for convenience using an exchange rate of NZ$1 = US$0.56255 as of 16 October 2026.

For more information, please contact:

SunScout Holding Limited
Investor Relations Department
Email: [email protected]

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: [email protected]