Envirotech Vehicles Announces 1-For-10 Reverse Stock Split

Envirotech Vehicles, Inc. (NASDAQ:EVTV) (the "Company" or "Envirotech"), a leading provider of electric commercial vehicles, today announced that it has resolved to effect a reverse stock split of the Company's common stock and has determined the ratio to be 1-for-10. The Company's stockholders approved the reverse stock split and granted the Company board of directors the authority to determine the exact split ratio and when to proceed with the reverse stock split at the Company's Special Meeting of Stockholders held on May 1, 2025.

The reverse stock split will become effective on August 6, 2025 at 5:00 p.m., Eastern Time, and the Company's common stock is expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market ("Nasdaq") as of the open of trading on August 8, 2025 under the existing ticker symbol "EVTV". The new CUSIP number for the Company's common stock will be 29414V 308.

When the reverse stock split becomes effective, every ten (10) shares of Envirotech's issued and outstanding common stock will be automatically combined into one issued and outstanding share of common stock without any change in the par value per share or the total number of authorized shares. The reverse stock split will reduce the number of outstanding shares of Envirotech's common stock from approximately 35.3 million shares to approximately 3.5 million shares.