⚖️ MMAT 🦋— META MATERIALS INC. Case No. 24-50792-gs | Doc. 3016 Entered October 23, 2026 ⚠️Not legal advice. 📌 THE DECISION Judge Gary Spraker DENIED the trustee’s request to sell and transfer certain litigation claims under Motion 2966. In plain English: The trustee asked permission to sell the bankruptcy estate’s rights to pursue certain lawsuits. The judge did not approve that proposed sale. 🔄 “WITHOUT PREJUDICE” MATTERS ✅The trustee can bring the request back to court, potentially with revised terms or additional support. This order does not permanently prohibit a sale. 👥 WHAT DOES THIS MEAN FOR SHAREHOLDERS? • The proposed sale cannot proceed under this motion. • This order does NOT dismiss the market-manipulation lawsuit or decide whether the defendants did anything wrong. • It does not decide class certification, select class counsel, or resolve the request to move proceedings to district court. ❓ WHY WAS IT DENIED? The order refers to the judge’s explanation at the October 13 hearing but does not repeat it. We would need that hearing’s recording or transcript to explain his specific reasons accurately. ➡️ WHAT’S NEXT? Watch for a revised sale motion or other filings addressing the judge’s concerns. For now, the court has rejected this proposed sale—not ruled on the merits of the underlying claims.