ORGANIZATION AND OPERATIONS	6 Months Ended
Jun. 30, 2026
ORGANIZATION AND OPERATIONS
ORGANIZATION AND OPERATIONS	NOTE 1: ORGANIZATION AND OPERATIONS ConnectM Technology Solutions, Inc. (the “Company”, “we” and/or “our”), a Delaware corporation, conducts its operations through its subsidiaries as a constellation of technology-driven businesses powering the modern energy economy. The Company’s mission is to reshape how energy is used in homes, businesses, infrastructure, and logistics to create a higher quality of life, lower costs, and help chart a course for a more sustainable future. The Company’s continuing operations are primarily focused on DeliveryCircle, asset-light logistics technology subsidiary, Keen Labs, the Company’s wholly owned AI and technology subsidiary, and Harry Kahn Associates, Inc, (“HKA”), the Company’s wholly owned subsidiary. The Company delivers solutions to its customers for (i) the decarbonization of homes, critical infrastructure and businesses through energy management-as-a-service offerings, including weatherization, HVAC, solar, and through the wholesale distribution of AI-enabled heat pump equipment and smart controls, (ii) the facilitation of business-to-business transportation through its online and mobile last-mile delivery platform utilizing contracted drivers, and (iii) the management of connected operations through its industrial internet of things (“IIoT”) platform. These offerings are integrated and optimized through the Company’s proprietary platform, developed and continuously enhanced by Keen Labs, its AI and technology subsidiary. DeliveryCircle operates an online and mobile last-mile delivery platform that utilizes independent contracted drivers to facilitate business-to-business transportation. On April 3, 2026, the Company acquired 100% of the outstanding shares of Harry Kahn Associates, Inc. (“HKA”), which became a wholly owned subsidiary of the Company. HKA is a leading provider of logistics support analysis databases, technical manuals, and training materials for the U.S. Department of Defense, the U.S. Coast Guard, and major defense OEMs including Boeing, Northrop Grumman, and Lockheed Martin. HKA has maintained an uninterrupted contracting relationship with the Naval Air Systems Command since 1976, holds ISO 9001:2015 certification for technical data development, and has supported programs across all branches of the U.S. military. The Company’s OSN segment provides energy solutions directly to residential, commercial and enterprise customers. OSN’s operations primarily include the installation, maintenance and servicing of electrified heating and cooling systems and distributed energy solutions, including solar and battery systems. The installed equipment is supported by the Company’s AI-driven energy intelligence platform, which enables monitoring of equipment performance and efficiency and facilitates the identification of maintenance requirements. The Company also offers physical products as part of its solutions offerings. These include AI-enabled heat pump systems for use in the decarbonization of homes and businesses, as well as solar panels, inverters, battery storage systems, and related balance-of-system components, which are procured and distributed by the Company’s wholly-owned subsidiary, Keen Labs Operations, Inc., to installation partners, including Sun Solar, LLC. The Company’s platform and associated software continuously collect and analyze operational data, generating actionable insights that customers use for monitoring, optimization and decision-making, and enabling applications such as predictive maintenance and virtual power plant integration. The Company previously provided managed solutions offerings, including human resources management, procurement services, omnichannel marketing and lead generation services, and access to working capital solutions designed to improve operating efficiency and enhance profitability for service providers. The Company is currently evaluating to cease to provide managed solution services. The Company is actively rationalizing its segment portfolio to focus on its highest-quality, U.S. based verticals that contribute positively to operating results. During the three and six months ended June 30, 2026, the Company continued to streamline certain HVAC, solar, and other home service operations within the Owned Service Network segment as the Company shifted its decarbonization strategy toward product-led and technology-enabled offerings. The Keen Labs segment conducts the Company’s technology platform operations and U.S. wholesale procurement and distribution of solar, energy storage, and related balance-of-system components through Keen Labs Operations, Inc., and contributed approximately $3,855,000 and $5,705,000 of product sales revenue during the three and six months ended June 30, 2026, respectively under VPP kit supply arrangements with installation partners. The remaining Owned Service Network operations are subject to ongoing strategic review. As discussed above, the Company terminated its last remaining Managed Solutions service agreement in April 2026. On May 23, 2025, Global Impx LLC (“GIX”) was organized as a Delaware limited liability company. GIX had no business transactions from its date of formation through November 2025. Prior to January 1, 2026, the Company directly held 100% of the equity interests of ConnectM Technology Solutions Private Limited (“ConnectM India”), through which the Company held interests in certain Indian subsidiaries and investments, including Cambridge Energy Resources Private Limited, CER Rooftop Private Limited, CER Microgrids Private Limited and Geo Impex & Logistics Private Limited. Effective January 1, 2026, the Company contributed 100% of its equity interests in ConnectM India to GIX. Following the contribution, GIX became the direct parent of ConnectM India and indirectly held ConnectM India’s interests in its underlying subsidiaries and investments. The Company continued to control GIX following the contribution. Accordingly, the transaction represented a reorganization of entities under the common control of the Company. On February 10, 2026, GIX converted from a Delaware limited liability company to a Delaware corporation and changed its name from Global Impx LLC to Global Impx Inc. The Company completed the previously announced Share Swap Agreement with Blue Cloud Softech Solutions Limited, a Company registered in India and listed in national stock exchanges in India (“Blue Cloud”), transferring 94.12% of the issued and outstanding equity of Global Impx Inc. (“GIX”), which held the Company’s India-based operations, to Blue Cloud. The Company previously offered display clusters, digital control units, and vehicle control units used in the management of connected operations, which are sold in the India market through the Company’s subsidiary, ConnectM India Private Limited (“CMI”). Further, the Company previously offered telecom tower and related infrastructure services in the India market through the Company’s subsidiary, Cambridge Energy Resources Private Limited (“CER”). In June 2026, the Company disposed of both CMI and CER and the results of the disposal, those operations are presented as discontinued operations (see note 4). The Company reported its results through five operating segments: Owned Service Network, Managed Solutions, Keen Labs, Logistics, and Other. As a result of the disposition of GIX, the Company divested its Distributed Energy & Renewables and Transportation segments, which are presented as discontinued operations in this report. Prior to the disposal, the Company’s revenues generated outside the United States were attributable to these two segments.

ORGANIZATION AND OPERATIONS

6 Months Ended

Jun. 30, 2026

NOTE 1: ORGANIZATION AND OPERATIONS

ConnectM Technology Solutions, Inc. (the “Company”, “we” and/or “our”), a Delaware corporation, conducts its operations through its subsidiaries as a constellation of technology-driven businesses powering the modern energy economy. The Company’s mission is to reshape how energy is used in homes, businesses, infrastructure, and logistics to create a higher quality of life, lower costs, and help chart a course for a more sustainable future.

The Company’s continuing operations are primarily focused on DeliveryCircle, asset-light logistics technology subsidiary, Keen Labs, the Company’s wholly owned AI and technology subsidiary, and Harry Kahn Associates, Inc, (“HKA”), the Company’s wholly owned subsidiary.

The Company delivers solutions to its customers for (i) the decarbonization of homes, critical infrastructure and businesses through energy management-as-a-service offerings, including weatherization, HVAC, solar, and through the wholesale distribution of AI-enabled heat pump equipment and smart controls, (ii) the facilitation of business-to-business transportation through its online and mobile last-mile delivery platform utilizing contracted drivers, and (iii) the management of connected operations through its industrial internet of things (“IIoT”) platform. These offerings are integrated and optimized through the Company’s proprietary platform, developed and continuously enhanced by Keen Labs, its AI and technology subsidiary.

DeliveryCircle operates an online and mobile last-mile delivery platform that utilizes independent contracted drivers to facilitate business-to-business transportation.

On April 3, 2026, the Company acquired 100% of the outstanding shares of Harry Kahn Associates, Inc. (“HKA”), which became a wholly owned subsidiary of the Company. HKA is a leading provider of logistics support analysis databases, technical manuals, and training materials for the U.S. Department of Defense, the U.S. Coast Guard, and major defense OEMs including Boeing, Northrop Grumman, and Lockheed Martin. HKA has maintained an uninterrupted contracting relationship with the Naval Air Systems Command since 1976, holds ISO 9001:2015 certification for technical data development, and has supported programs across all branches of the U.S. military.

The Company’s OSN segment provides energy solutions directly to residential, commercial and enterprise customers. OSN’s operations primarily include the installation, maintenance and servicing of electrified heating and cooling systems and distributed energy solutions, including solar and battery systems. The installed equipment is supported by the Company’s AI-driven energy intelligence platform, which enables monitoring of equipment performance and efficiency and facilitates the identification of maintenance requirements.

The Company also offers physical products as part of its solutions offerings. These include AI-enabled heat pump systems for use in the decarbonization of homes and businesses, as well as solar panels, inverters, battery storage systems, and related balance-of-system components, which are procured and distributed by the Company’s wholly-owned subsidiary, Keen Labs Operations, Inc., to installation partners, including Sun Solar, LLC.

The Company’s platform and associated software continuously collect and analyze operational data, generating actionable insights that customers use for monitoring, optimization and decision-making, and enabling applications such as predictive maintenance and virtual power plant integration.

The Company previously provided managed solutions offerings, including human resources management, procurement services, omnichannel marketing and lead generation services, and access to working capital solutions designed to improve operating efficiency and enhance profitability for service providers. The Company is currently evaluating to cease to provide managed solution services.

The Company is actively rationalizing its segment portfolio to focus on its highest-quality, U.S. based verticals that contribute positively to operating results. During the three and six months ended June 30, 2026, the Company continued to streamline certain HVAC, solar, and other home service operations within the Owned Service Network segment as the Company shifted its decarbonization strategy toward product-led and technology-enabled offerings. The Keen Labs segment conducts the Company’s technology platform operations and U.S. wholesale procurement and distribution of solar, energy storage, and related balance-of-system components through

Keen Labs Operations, Inc., and contributed approximately $3,855,000 and $5,705,000 of product sales revenue during the three and six months ended June 30, 2026, respectively under VPP kit supply arrangements with installation partners. The remaining Owned Service Network operations are subject to ongoing strategic review. As discussed above, the Company terminated its last remaining Managed Solutions service agreement in April 2026.

On May 23, 2025, Global Impx LLC (“GIX”) was organized as a Delaware limited liability company. GIX had no business transactions from its date of formation through November 2025. Prior to January 1, 2026, the Company directly held 100% of the equity interests of ConnectM Technology Solutions Private Limited (“ConnectM India”), through which the Company held interests in certain Indian subsidiaries and investments, including Cambridge Energy Resources Private Limited, CER Rooftop Private Limited, CER Microgrids Private Limited and Geo Impex & Logistics Private Limited. Effective January 1, 2026, the Company contributed 100% of its equity interests in ConnectM India to GIX. Following the contribution, GIX became the direct parent of ConnectM India and indirectly held ConnectM India’s interests in its underlying subsidiaries and investments. The Company continued to control GIX following the contribution. Accordingly, the transaction represented a reorganization of entities under the common control of the Company. On February 10, 2026, GIX converted from a Delaware limited liability company to a Delaware corporation and changed its name from Global Impx LLC to Global Impx Inc.

The Company completed the previously announced Share Swap Agreement with Blue Cloud Softech Solutions Limited, a Company registered in India and listed in national stock exchanges in India (“Blue Cloud”), transferring 94.12% of the issued and outstanding equity of Global Impx Inc. (“GIX”), which held the Company’s India-based operations, to Blue Cloud. The Company previously offered display clusters, digital control units, and vehicle control units used in the management of connected operations, which are sold in the India market through the Company’s subsidiary, ConnectM India Private Limited (“CMI”). Further, the Company previously offered telecom tower and related infrastructure services in the India market through the Company’s subsidiary, Cambridge Energy Resources Private Limited (“CER”). In June 2026, the Company disposed of both CMI and CER and the results of the disposal, those operations are presented as discontinued operations (see note 4).

The Company reported its results through five operating segments: Owned Service Network, Managed Solutions, Keen Labs, Logistics, and Other. As a result of the disposition of GIX, the Company divested its Distributed Energy & Renewables and Transportation segments, which are presented as discontinued operations in this report. Prior to the disposal, the Company’s revenues generated outside the United States were attributable to these two segments.