LHX Intermediate, LLC - 30 Oct 2025 Form 4 Insider Report for Zeo Energy Corp. (ZEO)

Role: 10%+ Owner
Signature: /s/ Barbara J.S. McKee, Authorized Signatory of Manager
Issuer symbol: ZEO
Transactions as of: 30 Oct 2025
Net transactions value: -$2,500,000
Form type: 4
Filing time: 20 Nov 2025, 17:00:31 UTC
Previous filing: 20 Nov 2025
SEC: View on sec.gov

Reporting Owners (2)

Name	Relationship	Address	Signature	Signature date	CIK
LHX Intermediate, LLC	10%+ Owner	3 EMBARCADERO CENTER, SUITE 550, SAN FRANCISCO	/s/ Barbara J.S. McKee, Authorized Signatory of Manager	20 Nov 2025	0002046915
WHITE OAK GLOBAL ADVISORS LLC	10%+ Owner	3 EMBARCADERO CENTER, SUITE 550, SAN FRANCISCO	/s/ Barbara J.S. McKee, Authorized Signatory of Manager	20 Nov 2025	0001420562

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZEO	Class A Common Stock	Conversion of derivative security		+1,851,851	+23%		9,931,851	30 Oct 2025	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ZEO	Promissory Note	Conversion of derivative security	$2,500,000				0	30 Oct 2025	Class A Common Stock	1,851,851	$1.35	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On December 24, 2024 (the "Issue Date"), Zeo Energy Corp. (the "Issuer") issued a promissory note (the "Promissory Note") to LHX Intermediate, LLC, a Delaware limited liability company ("LHX"), pursuant to which the Issuer could borrow up to an aggregate principal amount of $4,000,000 (the "Loan"), subject to the terms and conditions set forth in the Promissory Note. On October 30, 2025 (the "Repayment Date"), the Issuer issued 1,851,851 shares of Class A Common Stock, par value $0.0001 per share (the "Class A Common Stock") to LHX upon the Issuer's conversion of the Promissory Note held by LHX in the principal amount of $2,500,000 at a conversion price of $1.35 per share. The term of the Promissory Note expired on the Repayment Date.
F2	The securities of the Issuer are held directly by LHX. White Oak Global Advisors, LLC ("WOGA") is the manager of the funds and accounts that own LHX. WOGA disclaims beneficial ownership with respect to any securities of the Issuer held by LHX, except to the extent of its pecuniary interest in such securities. Investment and voting decisions for WOGA are made by a simple majority vote of its investment committee. Therefore, no individual member of the investment committee is considered to be the beneficial owner of the securities of the Issuer held by LHX, except to the extent of his or her pecuniary interest in such securities.

Content

On December 24, 2024 (the "Issue Date"), Zeo Energy Corp. (the "Issuer") issued a promissory note (the "Promissory Note") to LHX Intermediate, LLC, a Delaware limited liability company ("LHX"), pursuant to which the Issuer could borrow up to an aggregate principal amount of $4,000,000 (the "Loan"), subject to the terms and conditions set forth in the Promissory Note. On October 30, 2025 (the "Repayment Date"), the Issuer issued 1,851,851 shares of Class A Common Stock, par value $0.0001 per share (the "Class A Common Stock") to LHX upon the Issuer's conversion of the Promissory Note held by LHX in the principal amount of $2,500,000 at a conversion price of $1.35 per share. The term of the Promissory Note expired on the Repayment Date.

The securities of the Issuer are held directly by LHX. White Oak Global Advisors, LLC ("WOGA") is the manager of the funds and accounts that own LHX. WOGA disclaims beneficial ownership with respect to any securities of the Issuer held by LHX, except to the extent of its pecuniary interest in such securities. Investment and voting decisions for WOGA are made by a simple majority vote of its investment committee. Therefore, no individual member of the investment committee is considered to be the beneficial owner of the securities of the Issuer held by LHX, except to the extent of his or her pecuniary interest in such securities.