Dalrada Technology Group, Inc.

Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. On April 24, 2026, Dalrada Technology Group, Inc. (the “Company”), together with certain of its subsidiaries, received a notice of default from counsel to Nautilus Parent Holdings, LLC (as successor-in-interest to OnPoint LTB, LLC, the “Term Lender”) and Nautilus Funding Solutions, LLC - Series XIII (the “Factoring Lender,” and collectively with the Term Lender, the “Lender”). The notice declares defaults under (i) the Term Loan Agreement dated July 25, 2023 (and related promissory note, guaranty by the Company, security agreements, warrant, and all amendments), (ii) four separate Loan and Security Agreements dated February 22, 2024, March 22, 2024, April 5, 2024, and April 18, 2024 between Genefic Specialty RX, Inc. and the Term Lender, and (iii) the Loan and Security Agreement dated February 25, 2025 among Genefic, Inc., the Company, and the Factoring Lender (collectively, the “Loan Documents”). The Lender attributes the defaults to the borrowers’ failure to make required payments under the Loan Documents. The Lender demands a cure payment of $500,000 no later than May 1, 2026. The notice states that, if the cure payment is not made, the Lender will accelerate the respective balances of the Loans and immediately commence enforcement actions under the Loan Documents. The notice further reserves all rights and remedies of the Lender and expressly states that it does not waive any existing or future defaults. The Company is reviewing the notice and intends to engage in discussions with the Lender regarding resolution of the outstanding obligations. There can be no assurance that the defaults will be cured, that the Loans will not be accelerated, or that enforcement actions will not be pursued.