Announcement • Aug 28

Sobr Safe, Inc. Receives Additional Nasdaq Staff Determination Letter Regarding Equity Requirement Deficiency

On August 21, 2026, SOBR Safe, Inc. (the Company) received an additional staff determination letter (the Additional Letter) from the Listing Qualifications Department (the Staff) of the Nasdaq Stock Market LLC (Nasdaq) notifying the Company that the Company's stockholders' equity reported on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 as filed with the Securities and Exchange Commission on August 14, 2026, fell below the minimum stockholders' equity requirement of USD 2,500,000 for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(1) (the Equity Requirement). The Additional Letter also noted that the Company does not meet the alternatives of market value of listed securities or net income from continuing operations. The Additional Letter noted that the Equity Requirement deficiency was an additional basis for delisting the Company's Securities from the Nasdaq Capital Market. As previously reported in the Company's Current Reports on Form 8-K filed on March 25, 2026 and May 27, 2026, on March 19, 2026, the Company received a deficiency letter (the Letter) from the Staff notifying the Company that, for the preceding 30 consecutive business days, the closing bid price of the Company's common stock remained below the minimum USD 1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the Bid Price Requirement). In addition, the Letter noted that the Company effected a 1-for-110 reverse stock split on October 2, 2024, and a 1-for-10 reverse stock split on April 4, 2025, making the cumulative reverse stock split ratio 1-for-1100 (the Reverse Splits) over the last two years. As a result of the Reverse Splits, the Company is not eligible for the 180-day compliance period set forth in Rule 5810(c)(3)(A) because the Reverse Splits have a cumulative ratio of over 1-for-250. On March 26, 2026 the Company filed a request for a hearing with the Nasdaq Hearings Panel (the Hearings Panel) in response to the Letter and requested a stay of the delisting of the Company's securities from the Nasdaq Capital Market pending a hearing. On March 30, 2026, the Hearings Panel granted the Company a stay of delisting pending the hearing and a final written decision by the Hearings Panel. The delisting hearing was held on April 28, 2026 before the Hearings Panel. At the hearing, the Company presented its plan to regain compliance with the Bid Price Requirement and requested the continued listing of its securities on The Nasdaq Capital Market pending such compliance. On May 21, 2026, the Company received a letter from the Hearings Panel granting the Company's request for continued listing until September 15, 2026, in order to allow the Company to regain compliance with the Bid Price Requirement. The Company's request for continued listing of its securities on The Nasdaq Capital Market until September 15, 2026 was granted subject to the condition that on or before September 15, 2026, the Company shall complete the proposed business combination with Clean World Ventures, Inc., and demonstrate compliance with Nasdaq's Initial Listing Rules. The Equity Requirement notification, coupled with the prior notification regarding the Company's failure to maintain the Bid Price Requirement, creates substantial concern regarding the Company's ability to maintain the listing of its common stock on the Nasdaq Capital Market. Currently, the Company's common stock remains listed on the Nasdaq Capital Market and will continue to trade on Nasdaq under the ticker symbol SOBR. The Equity Requirement notification does not affect the Company's reporting requirements with the Securities and Exchange Commission. The Additional Letter provides the Company with the ability to present its views with respect to the Equity Requirement deficiency to the Hearing Panel by August 28, 2026. Given the concerns surrounding the Company's ability to maintain the listing of its common stock on the Nasdaq Capital Market, management and the Board of Directors of the Company are considering courses of action with respect to the Equity Requirement deficiency.

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Sobr Safe, Inc. Receives Additional Nasdaq Staff Determination Letter Regarding Equity Requirement Deficiency

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