Material Agreement, Financial Obligation (Form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

On June 17, 2026, Beam Global (the "Company") entered into a Lease Agreement with Ron L. and Jacqueline S. Reynolds Family Trust (the "Landlord"), for two adjacent industrial buildings located at 653 & 655 E. 20^th Street, Yuma, Arizona (the "Premises"). The Company intends to use the Premises for office, warehouse and manufacturing operations.

The Premises consist of a total of approximately 54,400 square feet. The term of the Lease with respect to 653 E. 20th Street is five (5) years, commencing on July 15, 2026, and expiring on July 31, 2031. The term of the Lease with respect to 655 E. 20th Street is four (4) years and seven (7) months, commencing on January 1, 2027, and expiring on July 31, 2031.

The aggregate monthly base rent payable under the Lease over the term is set forth below:

Monthly base rent attributable to 653 E. 20th Street is abated for the period from August 1, 2026 through December 31, 2026. In addition to the fixed rent amounts, the Lease Agreement provides that the Company is responsible for additional payments including a portion of certain utility expenses, taxes, insurance and operating costs.

The Lease grants the Company an exclusive option to purchase the Premises at any time during the term. The purchase price is $4,500,000 if the option is exercised during the first twelve (12) months of the term, increasing by three percent (3%) on a cumulative annual basis on each anniversary of the commencement date thereafter.

A copy of the Lease Agreement is attached hereto as Exhibit 10.1. The foregoing description of the Lease Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease Agreement and is incorporated by reference herein.

The information set forth in Item 1.01 above is incorporated by reference herein.