ST Berry announced that on January 9, 2024, the company signed the “EPC Contract for the Design, Procurement, and Construction Project Design, Procurement and Construction Project of Shanxi Tewash Energy Technology Co., Ltd. with an annual output of 100,000 tons of lithium manganese iron phosphate cathode materials” with Shanxi Tewash Energy Technology Co., Ltd. Due to major changes in the objective circumstances of the project, it is no longer practical to continue to perform the original contract. The company and Shanxi Twasi agreed to cancel the original contract after full communication, and the two parties signed the “Contract Termination Agreement” on July 21, 2026. Since construction of the project as agreed in the original contract was not actually started, not carried out, and not invested, the parties had no accounts receivable or payable. The cancellation of this contract will not have a significant adverse impact on the company's expected future earnings and financial position.

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