PRESS RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION.

€28 Million Financing Facility Provided for Initial SPV

Mannheim, June 8, 2026 – Berliner Volksbank eG and PAUL Tech AG have entered into a long-term partnership to accelerate the rollout of climate-neutral heating solutions across existing residential buildings. As part of an initial Special Purpose Vehicle (SPV), Berliner Volksbank is providing a €28 million financing facility to support the implementation of PAUL Net Zero projects.

The financing will be provided through fully amortizing tranches with ten-year maturities. Additional SPVs to finance further projects are already planned.

PAUL Net Zero combines AI-driven energy optimization with highly efficient heat pump systems and intelligent control and monitoring technologies. Property owners benefit from a fully financed turnkey solution, while tenants gain access to affordable, climate-neutral and energy-efficient heating. The Company’s objective is to secure contracts for green heat supply covering more than 100,000 residential units by the end of 2027.

Sascha Müller, Chief Executive Officer of PAUL Tech AG:
“The heating transition requires more than technology. It requires scalable financing structures. With Berliner Volksbank, we have gained an ideal partner that actively supports the industrial-scale rollout of climate-neutral heating solutions. This is what matters now: implementation in existing buildings – fast, economically viable, and supported by long-term financing.”

Patrick Weiden, Chief Financial Officer of PAUL Tech AG:
“We are delighted to have gained Berliner Volksbank as an additional strategic financing partner alongside MEAG. Their support will play an important role in enabling and accompanying PAUL’s future growth.”

Ralf Schulze, Head of Sales for Real Estate & Renewable Energies at Berliner Volksbank eG:
“Financing the heating transition in existing buildings is one of the key challenges of the future. With PAUL Tech, we are partnering with a strong provider offering a compelling and scalable business model that combines environmental impact with economic value. We are pleased to support PAUL Tech as a financing partner on this journey. Together, we are actively driving the transformation forward.”

PAUL Tech AG
PAUL Tech AG, based in Mannheim, is a decentralized heat provider for existing residential buildings. The company replaces fossil-based heating systems with a heat pump solution combined with its proprietary AI-based control technology (PAUL Net Zero) and is responsible for operation and heat supply. PAUL reduces emissions across the building stock and improves energy efficiency, enabling a near carbon-neutral heat supply. Contracts for the first 100,000 residential units are expected to be concluded by 2027.

PAUL Tech AG – Pioneering Energy Transition
www.paul.tech

Press contact
Klaus Schmidtke
Head of Corporate Affairs / Spokesperson
Theodor-Heuss-Anlage 12
68165 Mannheim

Phone: +49 151 46680605
Email: klaus.schmidtke@paul.tech

Disclaimers:

This announcement and the information contained herein is restricted and may not be published, distributed or transmitted, directly or indirectly, in the United States of America (including its territories and possessions), Australia, Canada, Japan, South Africa or any other jurisdiction where such publication, distribution or release would be unlawful. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons who are in possession of this document or other information referred to herein should inform themselves about and observe any such restrictions. Further, this announcement is for information purposes only and is not an offer of, or a solicitation of an offer to purchase, sell or subscribe for, securities in any jurisdiction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. No prospectus or offering document has been or will be prepared in connection with the offering of, or solicitation of an offer to purchase, sell or subscribe for, the securities referred to herein. The securities referred to herein may not be offered, and no solicitation of an offer to purchase, sell or subscribe for, such securities may be made, to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the securities referred to herein in such jurisdiction.

This announcement does not constitute an advertisement within the meaning of Regulation (EU) 2017/1129, as amended (the "EU Prospectus Regulation"), nor of Regulation (EU) 2017/1129 as it forms part of domestic law in the United Kingdom ("UK) by virtue of the European Union (Withdrawal) Act 2018 ("EUWA") (the "UK Prospectus Regulation"). It does not constitute an offer or a solicitation of an offer to purchase, sell or subscribe for any securities of the Company in the United States of America, Australia, Japan, Canada, South Africa or any other jurisdiction in which such offers or solicitations to purchase, sell or subscribe for securities are prohibited under applicable law. This announcement or any part of its content may not be relied upon or used as the basis for any offer or solicitation to purchase, sell or subscribe for securities in any jurisdiction, nor may it be relied upon in connection with any such offer under any circumstances. This announcement does not constitute an offer to sell or a solicitation of an offer to purchase any securities of the Issuer or any of its subsidiaries in the United States of America, Germany, or any other jurisdiction.

Neither this announcement nor any part thereof shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act), and may not be offered or sold in the United States except pursuant to an effective registration under the Securities Act or in reliance on an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

In the United Kingdom, this announcement is only directed at "qualified investors" within the meaning of the UK Prospectus Regulation who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order) or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc. (all such persons together being referred to as "Relevant Persons")). This document must not be acted on, or relied upon, by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

In member states of the European Economic Area („("EEA")„) the placement of, and invitation to submit any offer to purchase, sell or subscribe for, any securities described in this announcement is directed exclusively at persons who are "qualified investors" within the meaning of Regulation (EU) 2017/1129, as amended.

The Bond is not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA or the UK. For these purposes, a "Retail Investor" means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MIFID II; (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the "Insurance Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10) of article 4(1) of MIFID II and (b) in the UK, a person who is one (or more) of (i) a retail client within the meaning of Regulation (EU) no 2017/565 as it forms part of UK domestic law by virtue of the EUWA or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 of the UK (the "FSMA") and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of regulation (EU) No 600/2014 as it forms part of UK domestic law by virtue of the EUWA. Consequently, no key information document required by Regulation (EU) No 1286/2014 (the "EU PRIIPs Regulation") or the EU PRIIPS Regulation as it forms part of UK domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Bond or otherwise making the Bond available to retail investors in the EEA or the UK has been prepared and therefore offering or selling the Bond or otherwise making the Bond available to any retail investor in the EEA or the UK may be unlawful under the EU PRIIPs Regulation and/or the UK PRIIPS Regulation.

No action has been taken that would permit an offering or an acquisition of, or a solicitation of an offer to purchase, sell or subscribe for, the securities or a distribution of this announcement in any jurisdiction where such action would be unlawful. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

This announcement does not constitute a recommendation or advice concerning the placement of, or invitation to submit any offer to purchase, sell or subscribe for, any securities. Investors should consult a professional advisor as to the suitability of the placement of, or invitation to submit any offer to purchase, sell or subscribe for, any securities for the person concerned.

This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company („forward-looking statements“). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms „targets“, „plans“, „aims“, „projects“, „believes,“ „estimates,“ „anticipates,“ „expects,“ „intends,“ „may,“ „will“ or „should“ or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of the Company and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.