Worksport Signs Term Sheet To Acquire US Manufactured Truck Bed Accessory Business & Accompanying IP Portfolio; Terms Undisclosed

Proposed first acquisition targets revenue growth through cross-selling to Worksport's U.S. wide dealer network and 50,000+ email targeted customers

Product intended for standalone sales + bundled sales with Worksport's tonneau covers and scaled through its U.S. manufacturing and distribution network

WEST SENECA, NY / ACCESS Newswire / November 4, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today announced it has signed a term sheet to acquire a growing business with a patented, U.S.-manufactured truck bed accessory already on the market. The proposed acquisition, Worksport's first, would be a step in the Company's strategic plan to grow beyond tonneau covers by leveraging its U.S.-based enterprise-level manufacturing infrastructure toward a broader range of products. It is intended to create new sales opportunities across the Company's new and existing customers and distribution channels.

The announcement follows Worksport's preliminary third-quarter results, reported November 3, which included record net sales of approximately $7.24 million and operating cash use reduced to approximately 5% of net sales. With the core business now converting its investment into sales and cash, the Company is turning to the next step: getting more out of the manufacturing enterprise, distribution channels, and large customer base it has already built.