AKASOL AG: Invitation to the Virtual Annual General Meeting on June 30, 2021

Darmstadt, May 21, 2021 - The Management Board and Supervisory Board of AKASOL AG ("AKASOL"; the "Company"; ISIN DE000A2JNWZ9), a leading German developer and manufacturer of high-energy and high-performance lithium-ion battery systems for buses, commercial vehicles, rail vehicles, industrial vehicles, ships and boats, as well as a provider of comprehensive solutions, invite the Company's shareholders to attend the Annual General Meeting of AKASOL AG on June 30, 2021, at 10:30 a.m. CEST.

As the COVID-19 pandemic continues, this year's Annual General Meeting will also be held in a virtual and attendance-free format. For registered shareholders, the meeting will be broadcast live via the shareholder portal on AKASOL's Company website in the "Investor Relations" section under the heading "Annual General Meeting," as in the previous year. AKASOL AG's shareholders and their representatives have the option of exercising their voting rights by electronic postal vote or through the Company's proxy, who will be bound by instructions.

The agenda of the AKASOL Annual General Meeting 2021 and further details on participation and voting options are available on the Company website in the "Investor Relations" section under "Annual General Meeting":

Likewise, as announced, the 2020 audited annual and consolidated financial statements of AKASOL AG are available for download on the Company's website as of today. As already communicated on April 30, 2021, AKASOL's consolidated sales rose by 43% to EUR 68.3 million in the last fiscal year. Earnings before interest and taxes (EBIT) amounted to EUR -12.1 million (2019: EUR -5.3 million) due to measures to support growth in connection with the short-term establishment of structures and measures to optimize the Group's processes, as well as non-recurring expenses resulting from inventory and material master adjustments and special effects in the area of personnel, as also previously reported. Adjusted for special effects, EBIT in 2020 amounted to EUR -5.3 million (2019: EUR -2.4 million). Operating cash flow turned positive in the past fiscal year, as disclosed on April 30, 2021, and amounted to EUR 9.6 million (2019: EUR -25.6 million).

Contact:

Georg Grießmann
cometis AG
T.: +49 (0) 611 20 58 55 61
Email:

About AKASOL

AKASOL is a leading German developer and manufacturer of high-energy and
high-performance lithium-ion battery systems for use in buses, commercial vehicles, rail vehicles and industrial vehicles, as well as in ships and boats. With 30 years of experience, AKASOL is a pioneer in the development and manufacture of lithium-ion battery systems for commercial applications. Shares of AKASOL AG stock have been traded on the Prime Standard segment of the Frankfurt Stock Exchange since
June 29, 2018.

DISCLAIMER

Statements contained herein could be deemed to constitute what are referred to as "forward-looking statements." Forward-looking statements are identifiable by the use of words such as "could," "will," "should," "plans," "expects," "anticipates," "estimates," "believes," "intends," "envisages," "aims" or the negative form of these terms, or corresponding modifications and comparable terms.

Based on current expectations, forward-looking statements involve a number of known and unknown risks, uncertainties and other factors as a consequence of which actual results, degrees of capacity utilization, developments and successes achieved by the Group, or on the part of the branch of industry in which it operates, might turn out to be materially different from the results contained or implied herein. The faith placed in forward-looking statements should not be unreasonably high. The Group will not update or review any forward-looking statements published herein in light of new information, future events or for any other reason.