Equus announces net assets of the first quarter

Houston, May 19, 2025 (Globe Newswire) – Equus Total Return, Inc. (NYSE: EQS) (“Equus” or “Company”) reports from March 31, 2025 of USD 34.2 million. The net assets per share rose from March 31, 2025 to $ 2.52 from $ 2.17 on December 31, 2024. Comparative data are summarized below (in thousands, with the exception of amounts):

Portfolio value changes. In the first quarter of 2025, the company's most important contribution to contributions to the company's portfolio was:

• Increasing the time value of Morgan E&P.. Morgan E & P, LLC (“Morgan”) keeps development rights at around 6,707 net morning in the Bakken/Three forks in the Williston Basin of North Dakota. In the first quarter of 2025, the forward price curve for oil rose compared to the fourth quarter of 2024, which led to an increase in the company's time value in Morgan from $ 1.0 million from USD March 31, 2024 to $ 14, 2025.

• Increasing the time value of the stocks in general company companies. On February 10, 2025, the company General Enterprise Ventures, Inc., a developer of fire fighting products (OTC markets: GEVI), acquired a 1-year caretonger convertible bond interest with interest rate of 10% in the exchange of $ 1.5 million in cash (“Gevi grade”). The Gevi grade is converted into a conversion course of $ 0.40 per share in 3,750,000 shares of Gevi's ordinary shares. In contrast to the purchase of the GEVI grade, the company also received a 5-year stem shares in order to purchase a total value of 1,875,000 shares of the GEVI stem shares at a exercise price of $ 0.50 per share (“gevi-tender”). In the period from February 10, 2025 to March 31, 2025, the trading price for GEVI shares rose from USD 0.88 per share per share. As of March 31, 2025, the company together estimated the GEVI grade and the Gevi arrest warrant with 5.8 million US dollars.

  The company achieved the proceeds for GEVI investment on the issue of a 1-year convertible debt certificate in the original amount of $ 2.0 million with interest of 10% per year (“Equus Note”) together with two regular shares in order to acquire a total value of 2,000,000 regular shares in the company. Each of the Equus Note and Equus option certificates can be converted/removed at a price of USD 1.50 per share. Therefore, the price is below the net assets per share. The company's approval of the company for the exhibition of such stocks is required. On May 12, 2025, the company submitted a final proxy declaration in Appendix 14a to the US Securities and Exchange Commission to apply for the approval of the shareholders for such emissions.