Material Agreement (Form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

Supplement to Supply and Distribution Agreement

As previously disclosed in its Current Report on Form 8-K filed on February 2, 2026, on February 1, 2026, iPower Inc, a Nevada corporation ("iPower" or the "Company"), entered into a supply and distribution agreement (the "SDA") with its formerly-wholly owned subsidiary, Global Product Marketing, Inc., a Nevada corporation ("GPM"), and its 100% stockholder, ETTS AI Investment LLC, a Nevada limited liability company ("ETTS AI").

On June 30, 2026, the Company, GPM, and ETTS AI entered into a supplement to the SDA (the "Supplement") pursuant to which GPM assumed $2,007,366.86 of accounts payable owed to the Company's suppliers in exchange for acquiring an equal amount of the Company's existing inventory. Additionally, the Supplement releases the Company and GPM from exclusive sourcing and distribution obligations owed to one another under the SDA.

The foregoing summary of the Supplement and the SDA does not purport to be complete and is qualified in its entirety by reference to each such agreement, the forms of which are filed with this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.