Plug Power Inc. has entered into a Release Event License Agreement with Walmart Inc. Under the agreement, Plug Power will place certain GenKey System-related software, documentation, and materials into escrow for Walmart's benefit. Should specific "Release Events" occur, Walmart would receive a contingent, limited-use license to access and use these materials for internal GenKey System maintenance purposes at its facilities. Plug Power retains all intellectual property rights to the GenKey System. The agreement also outlines a process for identifying alternative stack suppliers and provides Walmart with conditional rights related to stack sourcing under limited circumstances. Walmart will pay Plug Power a one-time initial license fee upon confirmation of the escrow deposit and an annual license fee in the absence of a Release Event. If a Release Event occurs, an increased annual license fee and an additional one-time fee will be paid. The agreement includes mutual indemnification, limitation of liability, and allows for termination under specified conditions. Additionally, Walmart has agreed to terminate a previous transaction agreement and forfeit all vested and unvested portions of a warrant to purchase Plug Power shares, eliminating potential future dilution of up to 42,192,479 shares. The agreement has a term of 15 years unless earlier terminated by either party.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Plug Power Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-001336), on January 06, 2026, and is solely responsible for the information contained therein.