| Schedule of Analysis of Series B Preferred Stock |
See analysis of the Series B Preferred Stock below: | | | | | | | (in thousands) | | | Balance January 1, 2026 (Cumulative dividends in arrears) | $ | 1,627 | | | | | Series B dividends (In arrears) (January 1, 2026 - March 31, 2026) | 180 | | | Series B dividends (In arrears) (April 1, 2026 – June 30, 2026) prior to dividend declaration | 251 | | | Total six months ended June 30, 2026 Series B dividend in arrears | 431 | | | | | Total Series B dividend in arrears prior to declaration and payment | 2,058 | | | Less: Series B dividend declaration and payments in the three months ended June 30, 2026 | (2,058) | | | Balance June 30, 2026 | $ | - | |
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| Schedule of Reserved Shares of Common Stock for Future Issuance |
The Company had reserved common shares for future issuance as follows as of June 30, 2026: | | | | | | | Stock options outstanding | 2,565 | | Restricted stock units outstanding | 2,414,339 | | Warrants outstanding | 24,300,344 | | | | Number of common shares reserved | 26,717,248 |
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| Schedule of Basic and Diluted Per Share Computations for Continuing Operations |
The following table sets forth the reconciliation of the numerators and denominators of the basic and diluted per share computations for operations for the three and six months ended June 30, 2026 and June 30, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands, except shares) | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | Numerator: | | | | | | | | | | Net loss | | $ | (22,624) | | | $ | (7,780) | | | $ | (40,526) | | | $ | (15,134) | | | (Less) Net income (loss) attributable to non-controlling interest | | (1,915) | | | (398) | | | (2,351) | | | (196) | | | Net loss attributable to Soluna Holdings, Inc. | | (20,709) | | | (7,382) | | | (38,175) | | | (14,938) | | | Less: Preferred dividends or deemed dividends | | (251) | | | — | | | (431) | | | — | | | Less: Cumulative Preferred Dividends in arrears | | (2,767) | | | (2,956) | | | (5,537) | | | (5,908) | | | Balance | | $ | (23,727) | | | $ | (10,338) | | | $ | (44,143) | | | $ | (20,846) | | | Denominator: | | | | | | | | | | Basic and Diluted EPS: | | | | | | | | | | Common shares outstanding, beginning of period, including penny warrants and excluding restricted stock awards not vested | | 84,888,789 | | 9,621,175 | | 83,988,996 | | 8,106,814 | | Weighted average common shares issued during the period including penny warrants issued and outstanding and excluding restricted stock awards not vested as of quarter-end | | 46,086,972 | | 1,524,966 | | 23,679,032 | | 1,832,636 | | Denominator for basic and diluted earnings per common shares — weighted average common shares | | 130,975,761 | | 11,146,141 | | 107,668,028 | | 9,939,450 | | Basic and diluted loss per share | | $ | (0.18) | | | $ | (0.93) | | | $ | (0.41) | | | $ | (2.10) | |
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