• Polar Power issued a $275,000 convertible promissory note to Mayers Ventures on June 30, 2026, priced at $250,000.
• Note carries 10% annual interest, matures on Dec. 30, 2027.
• Mayers can convert principal and interest at 90% of the lowest daily VWAP over the prior seven trading days, subject to a floor.
• Company plans to include conversion shares as registrable securities under an intended registration rights agreement tied to a financing.
• Mayers also gained the right to name one designee for appointment or election to the board.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Polar Power Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-032382), on July 07, 2026, and is solely responsible for the information contained therein.