SolarMax Technology, Inc. (Nasdaq SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today announced that it will effect a 1-for-12 reverse stock split (the "Reverse Stock Split") of its common stock. The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on August 13, 2026 (the "Effective Time"). The Company’s Common Stock will continue to trade on the Nasdaq Capital Market under the symbol "SMXT" and will begin trading on a reverse split-adjusted basis when the Nasdaq opens on August 13, 2026. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 83419H202. The Company will pay cash in lieu of fractional shares based on the closing market price of the common stock on the effective date of the Reverse Stock Split. If after giving effect to the Reverse Stock Split, a stockholder would hold a fractional share, such stockholder will receive upon the reverse split the number of whole shares issuable pursuant to the Reverse Stock Split plus cash for the fractional share.

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