Zug, Switzerland, 30 July 2021: iQ International („iQ„) has signed an indicative term sheet with Antarctica Battery, Materials and Storage LLC, USA („Antarctica„), an affiliate of Antarctica Capital, USA, pursuant to which Antarctica proposes to acquire all the battery and mobility assets, IP, and related business activities, including SIA, of iQ’s wholly owned subsidiary iQ Power AG („iQ Power„). This contemplated sale represents a major part of iQ’s current business, and it is envisaged that iQ receives a purchase price of approx. USD 40 million from Antartica. The current timetable foresees a finalization of such sale after the effectiveness of the forthcoming amalgamation with Terrascale. The parties aim at agreeing on the terms of a final binding agreement by the end of September.