Aeluma, Inc.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On March 10, 2026, a warrant to purchase up to 8,000 shares was exercised in full via a cashless exercise based on an exercise price of $2.00 per share, resulting in the issuance to the holder of a net of 6,989 shares of common stock. The shares were issued in reliance on an exemption from registration set forth in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) to “accredited investors,” as defined in Rule 501 of Regulation D of the SEC, without the use of any general solicitation or advertising to market or otherwise offer the securities for sale. None of the shares issued were registered under the Securities Act or applicable state securities laws and none may be offered or sold in the United States absent registration under the Securities Act, or an exemption from such registration requirements.

We did not sell any other equity securities that were not registered under the Securities Act during the quarter ended March 31, 2026, that were not otherwise disclosed in our Current Reports on Form 8-K.