Tranche Update on Qualstar Corporation's Equity Buyback Plan announced on November 9, 2021.

Qualstar Corporation manufactures and markets data storage system products and power solutions. The Company is a provider of semi-custom and custom power solutions marketed under the N2Power brand. The Company operates through two segments: Data Storage and Power Supplies. Its Data Storage segment includes scalable automated magnetic tape libraries used to store, retrieve and manage electronic data. Its tape-based storage solutions enable businesses to manage the growth of digital data assets in a cost-effective manner, and address long-term archive, backup and recovery of electronic data. Its Power Supplies segment design and market switching power supplies. These power supplies are used to convert alternating current (AC) line voltage to DC voltages (DC voltages) to other DC voltages for use in a variety of electronic equipment, such as communications equipment, industrial machine tools, wireless systems, as well as medical and gaming devices.