~ Company strengthens advisor group in anticipation of its going public event in 2^nd half of 2026 ~

~ Global investor and Vision 2030 strategic leader joins to support ELECTRA AI's expansion across the GCC and international markets ~

BOSTON, May 27, 2026 (GLOBE NEWSWIRE) -- ELECTRA AI, the leading AI-driven cleantech and B2B software company building the AI Brain for Batteries™ platform, today announced the appointment of Carmine Villani to its newly formed Advisory Board.

Villani is a global executive, investor, and advisor with more than three decades of leadership across multi-family offices, sovereign investment platforms, and international business development. He currently serves as President & CEO of Crown MFO Group, Multifamily Office Equity Partners, and Multifamily Office Investments — combined platforms of over $27 billion deploying capital in alignment with Saudi Arabia's Vision 2030 and the broader transformation of the GCC economy. He also holds senior leadership roles with Saudi Crown Holdings, Saudi Crown Growth Ventures, and CA-71, serving on Royal Family Office executive boards and driving high-impact international partnerships.

Villani brings extensive cross-sector expertise spanning private equity, venture capital, AI, quantum technology, infrastructure, and energy. His investments and advisory roles include leading deep-tech organizations such as SandboxAQ (a Google spin-off), RapidSOS (backed by BlackRock and Apple), Naoris Protocol, and, most recently, ELECTRA AI, alongside major global funds. His earlier career includes serving as CEO of the Berkshire Hathaway HS and MFO Global Partners Private Office Strategic Alliance, and Senior Advisor roles with Blackstone, Scudder Kemper Pension Fund, The Yucaipa Global Partnership Fund, Global Emerging Markets (GEM), KPMG, Ernst & Young, and Citibank.

His appointment comes at a strategic moment for ELECTRA AI — scaling its battery intelligence platform across global energy infrastructure, e-mobility, and autonomous systems markets, including the rapidly expanding BESS, renewables, and data center sectors across the GCC, while advancing toward a planned Nasdaq listing via its previously announced business combination with Iron Horse Acquisition II Corp. (NASDAQ:IRHO), expected in the second half of 2026.

"Carmine's experience deploying capital at the intersection of advanced technology, energy, and infrastructure is uniquely aligned with the markets ELECTRA AI is scaling into," said Fabrizio Martini, Co-founder and CEO of ELECTRA AI. "His perspective on Vision 2030 and global investment dynamics will be invaluable as we continue to establish the AI Brain for Batteries™ as the intelligence layer behind the world's energy transition."

"ELECTRA AI sits at the convergence of three forces that will define the next decade of global infrastructure investment: artificial intelligence, electrification, and the rise of autonomous systems," said Villani. "Fabrizio and his team have built something that goes well beyond battery hardware — a software-defined intelligence layer with real implications for how capital is deployed across energy and mobility worldwide. I look forward to supporting their growth."

Villani is a Certified Public Accountant (New York) and holds a Master's in Professional Accounting with top academic honors from the University of Texas at Austin. He also serves on multiple advisory boards and international organizations contributing to global investment strategy and philanthropic initiatives, and is a recipient of international distinctions, including the Royal Knight of the Italian Crown, and is a World Champion of Equestrian Endurance.

About ELECTRA AI

ELECTRA AI is the leading AI-driven cleantech and B2B software company, accelerating the world's transition to electrification by unlocking the full potential of battery technology. ELECTRA AI builds the AI Brain for Batteries™ platform — a unified intelligence layer that enables battery systems to be monitored, optimized, and controlled across their full lifecycle. By combining Agentic AI, Physical AI, Physics-informed Battery Modeling with Large Quantitative Models (LQMs), ELECTRA AI transforms batteries from passive hardware into intelligent, adaptive, and increasingly autonomous assets.

ELECTRA AI powers battery intelligence across every major battery-powered sector, including Energy Infrastructure (BESS for grid, renewables, and data centers), autonomous systems (robotics, humanoid, space assets), and e-mobility, helping make electrification safer, more resilient, and more economically productive. ELECTRA AI was co-founded in 2015 by Fabrizio Martini, inspired by work conducted as a Principal Investigator on NASA projects.

About Iron Horse Acquisition II Corp.

Iron Horse Acquisition II Corp. (NASDAQ:IRHO) (www.ironhorseacquisition.com) is a special purpose acquisition company co-founded by CEO and Chairman Jose Antonio Bengochea and CFO Bill Caragol. Iron Horse completed its initial public offering in December 2025, raising gross proceeds of approximately $230 million. Iron Horse was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, with a particular focus on companies in the AI, media, and technology sectors.

Forward-Looking Statements

Certain statements in this press release may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iron Horse's or Electra's future financial or operating performance. For example, statements regarding the anticipated timing of closing, expectations regarding the combined company's business, and potential benefits of the transaction are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "potential," or "continue," or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Iron Horse and Electra and their respective management teams, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change, or other circumstances that could give rise to the termination of the BCA; (ii) the outcome of any legal proceedings that may be instituted against Iron Horse, Electra, the combined company, or others following the announcement of the transaction; (iii) the inability to complete the transaction due to the failure to obtain approval of the stockholders of Iron Horse or to satisfy other conditions to closing; (iv) changes to the proposed structure of the transaction that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the transaction; (v) the ability to meet Nasdaq's continued listing standards following the consummation of the transaction; (vi) the risk that the transaction disrupts current plans and operations of Electra as a result of the announcement and consummation of the transaction; (vii) the ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (viii) costs related to the transaction; (ix) changes in applicable laws or regulations; and (x) the possibility that Electra or the combined company may be adversely affected by other economic, business, and/or competitive factors. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Iron Horse nor Electra undertakes any duty to update these forward-looking statements, except as required by law.

No Offer or Solicitation

This press release does not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed transaction, and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Additional Information about the Business Combination and Where to Find It

In connection with the proposed business combination, Iron Horse and Electra have filed a registration statement on Form S-4 (the "Registration Statement") with the SEC, which includes a proxy statement/prospectus, and certain other related documents, to be used at the meeting of stockholders to approve the proposed business combination. INVESTORS AND SECURITY HOLDERS OF IRON HORSE ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS, ANY AMENDMENTS THERETO, AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ELECTRA, IRON HORSE, AND THE BUSINESS COMBINATION. The definitive proxy statement will be mailed to shareholders of Iron Horse as of a record date to be established for voting on the proposed business combination and other proposals. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC's website at www.sec.gov, or by directing a request to: Loeb & Loeb LLP.

Participants in the Solicitation

Iron Horse, Electra, and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Iron Horse's stockholders in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination are contained in the Registration Statement.

Media Contacts

Giovanni Rossi

Head of Marketing and Communications, ELECTRA AI

grossi@electrabrain.ai

IRON HORSE

www.ironhorseacquisition.com

Bill Caragol – bill@ironhorseacquisition.com

Investor Relations for ELECTRA AI: ELECTRA@mzgroup.us

ELECTRA AI Adds Strategic Advisory Board; Appoints Carmine Villani as First Strategic Advisor