IQSTEL Closes First Financing Tranche Of Up To $3M In Senior Secured, Non-Convertible Promissory Notes For Planned Acquisition Of 51% Controlling Interest In Ultranet Telecom Group

• Up to $3 million in two-year senior secured, non-convertible promissory notes closed — debt financing with no conversion feature.
   
• Ultranet generated $130.9 million in 2025 revenue, up 30%, with $5.0 million in EBITDA and $4.6 million in net income, and is expected to make IQSTEL cash-flow positive on a consolidated basis.
   
• Ultranet's six markets — Nigeria, Côte d'Ivoire, Ghana, Burkina Faso, Mali and Senegal — sit in Sub-Saharan Africa, one of the world's fastest-growing mobile regions.
   
• IQSTEL Digital's microdrama service is in commercial outreach to seven mobile operators serving approximately 93 million subscribers.

NEW YORK, Oct. 26, 2026 /PRNewswire/ -- IQSTEL Inc. (NASDAQ:IQST) ("IQSTEL" or the "Company"), a global telecommunications and technology company, today announced that it has closed the first financing tranche for its planned acquisition of a 51% controlling interest in Ultranet Telecom Group ("Ultranet"). The financing consists of two-year senior secured, non-convertible promissory notes of up to $3 million, together with pre-funded warrants to purchase up to 420,000 shares of common stock. Full terms will be described in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.