Battery Future Acquisition Corp. announced a private placement to issue convertible promissory note for the gross proceeds of $100,000 on April 1, 2024. The transaction will include participation from new investor Camel Bay, LLC.

No interest shall accrue on the unpaid principal balance of this Note. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorneys? fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.

The loan is evidenced by a promissory note which is non-interest bearing and payable upon the consummation by the Company of a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities.. Upon consummation of a Business Combination, Camel Bay will have the option, but not the obligation, to convert the principal balance of the Note, in whole or in part, into warrants of the Company, with each Warrant entitling the holder to purchase one share of the Company?s Class A common stock at an exercise price of $11.50 per share. The Warrants issued as a result of conversion of the Note will be identical to the ?private placement warrants?

issued by the Company in connection with its initial public offering. The issuance of the Note was exempt pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.