ONOmotion

Business operations at ONOMOTION GmbH are currently continuing without
restrictions. The restructuring process has begun to secure business operations
seamlessly with a strategic investor.

Beres Seelbach, Managing Director of ONOMOTION GmbH comments: “Together
with strategic partners, we are currently working on the further development of our
product in order to establish ONO as a permanent fixture in the e-cargo bike market
in the long term after the restructuring process has been completed.”

At e-cargobikes.com we believe that this is a positive development and will help the
ONOMOTION brand meet growing demand and access new markets. Scaling
production facilities is always a complex step change and a capital-intensive phase,
for this reason we welcome this development.

It is expected that the transaction will be completed during December 2024 and BAU
will continue throughout. E-cargobikes will continue to provide and maintain the
ONO to our UK customer base.