VivoPower Reinforces Focus on AI Data Center Business and Provides Update on Non-Core Businesses

VivoPower PLC (NASDAQ: VIVO) (“VivoPower” or the “Company”), a B Corp-certified global developer and owner of powered land and data center infrastructure for AI compute applications, today provides the following update in respect of its strategic direction and the previously announced separation initiatives relating to its subsidiaries Tembo e-LV B.V. (“Tembo”) and Caret Digital (“Caret Digital”). Following a strategic review, the Board of Directors of the Company has determined that VivoPower will focus, as a group and as its principal strategic priority, on the development and scale-up growth of its AI data center business and that the separation of each of Tembo and Caret Digital from the VivoPower group (each a non-core business of the group) will be progressed in a manner consistent with that strategic priority. Tembo Business Combination As previously disclosed, on 29 August 2024 the Company entered into a Business Combination Agreement (as amended) with Cactus Acquisition Corp. 1 Limited (“CCTS”) in relation to a proposed business combination involving Tembo (the “Tembo Business Combination”). The registration statement on Form F-4 in respect of the proposed Tembo Business Combination remains under review with the United States Securities and Exchange Commission (the “SEC”). Subject to completion of the SEC review process, receipt of the requisite shareholder approvals and the satisfaction (or, where applicable, waiver) of the other conditions to closing, it is currently contemplated that, on completion, the combined entity will be named Tembo Group N.V. and that its ordinary shares will be listed on the Nasdaq Stock Market, with the Company retaining a minori.