MAAS 2026 Environmental, Social and Governance Report

Mobile Energy, Moving for Good

About This Report

This is the Environmental, Social and Governance Report of Maase Inc. ($MAAS), prepared for stakeholders worldwide. Centered on “mobile charging and distributed energy storage as a service,” MAAS is committed to reshaping the relationship among people, vehicles, and energy.

This report is primarily narrative in form. It seeks to present, from the perspectives of philosophy, action, and commitment, the company’s deeper reflections and practical efforts in sustainable development. We believe that true ESG is not a mere accumulation of metrics, but a logic of doing good that is embedded into the very fabric of the business.

I. Environmental: Weaving a Zero-Carbon Energy Network Through Mobile Green Power

1.1 Embedding Green DNA at the Source

MAAS is not merely a transporter of electricity; it is an optimizer of green energy across time and space. Its mobile energy storage network is designed to prioritize renewable power within its underlying dispatch logic. During periods and in locations where solar and wind resources are abundant, the system stores clean electricity that might otherwise be curtailed, converting it into mobile energy resources for on-demand charging.

As a result, every kilowatt-hour delivered carries, to the greatest extent possible, the imprint of wind and sunlight. While serving electric vehicles, it directly replaces fossil fuels in the transportation sector and forms a closed loop of “clean generation, mobile supply, and zero-carbon mobility.” The environmental value of transportation electrification must be built on a greener energy structure, and MAAS is providing a highly reliable pathway toward that goal.

1.2 Beyond Fixed Infrastructure: Lightweight, Relocatable Low-Carbon Assets

The expansion of traditional fixed charging networks often entails substantial civil works, cable laying, transformer capacity upgrades, and land hardening, all of which carry significant embodied carbon emissions and ecological disturbance during construction. Through mobile, modular energy storage and charging equipment, MAAS transforms “physical infrastructure” into “software-defined energy services.”

Mobile energy storage avoids the carbon lock-in associated with large-scale permanent structures. When urban layouts evolve or demand patterns shift, energy assets can be redeployed seamlessly, fundamentally reducing the carbon cost of redundant construction and stranded assets. This flexible and scalable philosophy of energy infrastructure is, in itself, a restrained and responsible response to the ecological challenges of our time.

1.3 Treating Batteries as Living Assets: Full Life-Cycle Value Circulation

The enhancement of product value begins with the refusal to treat batteries as disposable consumables. Within the MAAS system, the “life journey” of every energy storage battery is carefully defined. During its service life, adaptive thermal management, AI-based state-of-health prediction, and flexible charging and discharging strategies are applied to substantially slow performance degradation.

When a battery no longer meets the high-power demands of mobile charging, it can be seamlessly transitioned into second-life applications, such as community backup power, microgrid storage, or low-rate charging stations. At the final retirement stage, MAAS works with leading global recycling partners to recover critical materials such as lithium, cobalt, and nickel through technologies including hydrometallurgy, returning them to the industrial cycle and minimizing the ecological pressure and geopolitical ethical risks associated with primary mineral extraction.

From cradle to cradle: this is the battery philosophy that underpins the company’s growth.

1.4 Becoming the Capillaries of the Grid: Peak Shaving, Valley Filling, and Virtual Power Plants

The value of mobile charging and energy storage extends beyond vehicle services. It is also an active contributor to the resilience of urban energy systems. MAAS’s distributed devices shift electricity loads across time and space: absorbing surplus power during off-peak periods and releasing it during peak demand. Like countless flexible “energy sponges,” these assets help alleviate pressure on grid expansion and reduce reliance on high-carbon peaking power plants.

In the future, the company plans to connect its intelligent dispatch platform with virtual power plant aggregators, enabling dispersed mobile energy storage assets to be aggregated into dispatchable flexible resources and participate in ancillary service markets. This model not only creates economic value, but also turns each mobile charging vehicle into a small yet critical node supporting the integration of a higher proportion of renewable energy into the power system, thereby advancing the decarbonization of the broader electricity grid.

II. Social: Bringing Energy Equity to Every Corner

2.1 Energy Inclusion That Reaches Everywhere

The root cause of charging anxiety is not an absolute shortage of electricity, but the uneven distribution of infrastructure across space and society. Older communities without fixed parking spaces, historic preservation districts, rural areas with weak grid capacity, and ecologically sensitive zones are often overlooked by traditional infrastructure development. MAAS addresses this inequity through a simple yet powerful proposition: “one-tap request, energy delivered to you.” Wherever a vehicle can go, energy can arrive.

This underlying logic enables renters and electric vehicle owners in lower-income urban communities to enjoy the same right to convenient green mobility. It also allows remote scenic areas and temporary events to reduce their reliance on diesel generators. This is an act of energy inclusion that goes beyond pure commercial logic. What MAAS protects is the equal opportunity for people to participate in the zero-carbon transition.

2.2 A Resilience Foundation Embedded in Communities

As extreme weather events become more frequent, fixed energy infrastructure may fail due to disaster-related damage. MAAS’s mobile energy storage fleet, by contrast, can serve as a highly maneuverable resilience unit within the broader social emergency response network. In scenarios such as typhoons, floods, and earthquakes, it can respond rapidly and provide uninterrupted green power to rescue vehicles, shelters, and critical communication equipment, helping safeguard essential lifelines.

In ordinary times, it can provide quiet, zero-emission temporary power for community events, mobile medical services, and other public needs. This model of “resilience as a service,” rooted in mobility, deeply transforms corporate capabilities into public safety benefits and redefines the social contract of energy infrastructure.

2.3 Cultivating Green Skills for the Future

The operation of a mobile energy network gives rise to new roles such as “mobile energy operations engineer” and “intelligent dispatch analyst.” MAAS has built a comprehensive skills training and certification system that provides workers from diverse educational backgrounds with advancement pathways from operations and maintenance to digital dispatching, with particular emphasis on attracting talent transitioning from traditional industries.

The company also collaborates with vocational institutions to recruit and develop relevant technical talent, while ensuring safe, healthy, and dignified working conditions across its global operations. This is not merely job creation; it is the cultivation of a future workforce that understands new energy systems and cares about the communities they serve.

2.4 Safety and Privacy: Non-Negotiable Boundaries

Mobile charging directly involves user vehicles and personal safety. MAAS adheres to an “absolute safety” design philosophy. Its equipment incorporates multiple layers of electrical protection, collision pressure relief, and thermal runaway isolation structures. Operational data is uploaded in real time, enabling early warning and intervention before anomalies escalate.

On the digital platform, sensitive information such as user location and charging behavior is treated as an extension of digital personhood. The company strictly follows international privacy standards such as GDPR, using anonymization, least-privilege access, and end-to-end encryption as baseline principles. Data is used only to optimize service quality and is never used for discriminatory pricing or sold to third parties. Respect for privacy is the foundation of customer trust.

III. Governance: Building Long-Term Trust Through Transparency and Ethics

3.1 Embedding ESG into the Governance DNA

MAAS has established an ESG Committee at the board level to directly oversee climate goals, social responsibility, and ethical compliance. The company links long-term incentive plans to environmental performance, safety indicators, and community satisfaction, ensuring that sustainable development is not a peripheral departmental initiative, but a weighted factor in core decision-making.

MAAS maintains zero tolerance for bribery and corruption. Across its global operations, the company strictly enforces anti-corruption policies and requires all employees and partners to jointly safeguard a clean and ethical business environment.

3.2 A Supply Chain of Shared Responsibility

MAAS recognizes that the boundaries of ESG extend beyond the company itself. The upstream ecosystem of mobile energy storage equipment involves batteries, power electronics, vehicle platforms, and other critical sectors. The company implements rigorous supplier admission reviews and regular assessments, with particular attention to labor rights, environmental permits, and the traceability of conflict minerals.

MAAS plans to promote the development of a traceability platform for critical materials and gradually build a transparent value chain from mines to mobile charging services. Only a clean and compliant value chain can support a truly credible commitment to green electricity.

3.3 Co-Governance with Diverse Stakeholders

MAAS has established a regular global stakeholder engagement matrix. The company periodically discloses ESG progress to users, investors, community representatives, and regulators, while maintaining multilingual feedback and grievance mechanisms to ensure that critical voices can reach the decision-making level.

Whenever entering a new market, the company conducts human rights and community impact due diligence, respecting Indigenous cultures and local knowledge. Product and dispatch algorithm iterations also incorporate feedback from users and communities, rejecting closed-door development and ensuring that innovation remains grounded in real-world needs.

3.4 Digital Ethics and Cybersecurity Defense

As a company that aggregates substantial volumes of energy-related data, MAAS views cybersecurity as essential to its corporate survival. The company has established a defense-in-depth system, conducts regular red-team and blue-team exercises, and engages third-party audits to protect critical information infrastructure from intrusion.

At the same time, MAAS remains alert to the risks of algorithmic bias. Intelligent dispatch must not create systemic service discrimination based on region or user characteristics. The company plans to establish an algorithmic fairness review mechanism to ensure that the allocation logic of mobile energy services can withstand ethical scrutiny.

IV. Outlook: Toward a New Form of Civilization Where Mobile Energy Serves the Public Good

What MAAS is practicing is far more than simply “charging delivered to the vehicle.” It is an attempt to envision a distributed, mobile, and mutually beneficial future energy landscape: one in which every mobile energy storage device becomes a node of decarbonization, a touchpoint of social resilience, and a safeguard of each individual’s right to participate in the green transition.

Looking ahead, MAAS will continue to deepen vehicle-to-grid interaction, full life-cycle battery value management, and global energy access initiatives for weak-grid regions based on mobile energy storage.

MAAS is committed to working with partners around the world so that every act of energy delivery becomes a gentle yet meaningful force for advancing energy justice, restoring the planet’s ecology, and enhancing the shared well-being of humanity.

MAAS — Mobile Energy, Moving for Good.