Eos Energy Enterprises has successfully achieved all four performance milestones under its strategic investment agreement with Cerberus Capital Management, unlocking an additional $65 million from the Delayed Draw Term Loan on October 31, 2024. This marks the third tranche following previous disbursements of $75 million and $30 million in June and August 2024 respectively.In connection with the latest draw, Eos issued 38.26 million shares of Series B-3 Convertible Preferred Stock to Cerberus, representing a 6.1% increase in ownership. Combined with previous issuances, Cerberus now holds securities convertible into 142.28 million common shares, equivalent to a 30.9% stake. If all remaining milestones are met and draws funded, Cerberus could own up to 33% of Eos; this could increase to 41% if future milestones are missed.The Series B-3 Preferred Stock grants Cerberus significant governance rights, including the ability to appoint up to four directors based on ownership thresholds, preemptive rights on new securities issuances, and various protective provisions. The shares are convertible into common stock subject to a 49.9% ownership cap and become redeemable after November 1, 2029.

Eos Energy Enterprises has successfully achieved all four performance milestones under its strategic investment agreement with Cerberus Capital Management, unlocking an additional $65 million from the Delayed Draw Term Loan on October 31, 2024. This marks the third tranche following previous disbursements of $75 million and $30 million in June and August 2024 respectively.In connection with the latest draw, Eos issued 38.26 million shares of Series B-3 Convertible Preferred Stock to Cerberus, representing a 6.1% increase in ownership. Combined with previous issuances, Cerberus now holds securities convertible into 142.28 million common shares, equivalent to a 30.9% stake. If all remaining milestones are met and draws funded, Cerberus could own up to 33% of Eos; this could increase to 41% if future milestones are missed.The Series B-3 Preferred Stock grants Cerberus significant governance rights, including the ability to appoint up to four directors based on ownership thresholds, preemptive rights on new securities issuances, and various protective provisions. The shares are convertible into common stock subject to a 49.9% ownership cap and become redeemable after November 1, 2029.