Stem, Inc.

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 19, 2026, Stem, Inc. (the “Company”) notified the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with the requirement of Section 802.01B of the NYSE Listed Company Manual (“NYSE Manual”) that the Company have an average market capitalization of not less than $50.0 million over a consecutive 30 trading-day period and stockholders’ equity of not less than $50.0 million. On October 20, 2026, the Company received from the NYSE a non-compliance letter confirming that the Company is not in compliance with the requirement of Section 802.01B of the NYSE Manual (the “NYSE Letter”). The Company is subject to the procedures set forth in Sections 801 and 802 of the NYSE Manual and intends to submit, within 45 days after receiving the NYSE Letter, a business plan (the “Plan”) demonstrating how it expects to regain compliance with the applicable continued listing standard within 18 months after receipt of the NYSE Letter. The Plan is required to identify specific quarterly milestones against which the NYSE will evaluate the Company’s progress. Pursuant to applicable NYSE rules, the NYSE will review the Plan and, within 45 days of its receipt, determine whether the Company has made a reasonable demonstration of an ability to conform to the relevant standards in the cure period outlined above. Pursuant to NYSE rules, the Company’s common stock will continue to be listed and traded on the NYSE during the cure period outlined above, subject to the NYSE’s acceptance of the Plan and, if accepted, its quarterly review of the Company for compliance with the Plan and the Company’s compliance with other NYSE continued listing requirements. The current non-compliance with the standards described above does not affect the Company’s ongoing business operations or its reporting requirements with the Securities and Exchange Commission.