Risk Factors Update Summary

• ChargePoint plans to increase research and development costs significantly, with expenses growing from $145.0 million in 2022 to $220.8 million in 2024.
• ChargePoint incurred net losses of $457.6 million, $345.1 million, and $132.2 million for the fiscal years ended January 31, 2024, 2023, and 2022, respectively. This significant increase in losses is a concerning trend.
• ChargePoint faces risks from evolving EV charging standards, potentially requiring significant time and R&D costs.
• ChargePoint faces increasing costs and risks related to ESG regulations, potentially damaging its reputation and financials.
• ChargePoint's workforce grew from over 800 employees as of January 31, 2022, to over 1,650 as of January 31, 2023. This rapid expansion may strain operational and financial resources.
• ChargePoint may incur costs to adapt to new regulatory standards, impacting revenue and operations.
• ChargePoint is subject to anti-corruption laws and risks penalties for non-compliance, impacting its operations and reputation.
• ChargePoint has expanded operations internationally, particularly in Europe, which may pose challenges due to limited experience in operating as a public company in these regions.
• ChargePoint's failure to maintain high-quality customer support could lead to increased costs and cancellations.
• ChargePoint's convertible notes and revolving credit facility terms may impact its business and financial condition.