Risk Factors Update Summary

• The company's ability to utilize net operating loss carryforwards may be substantially limited due to an "ownership change" as defined in Section 382 of the Internal Revenue Code. This change might result in a significant increase in tax liability.
• Cybersecurity breaches, including intentional breaches and system failures, could disrupt operations, damage reputation, and lead to financial losses.
• Failure to remediate identified material weaknesses in internal controls over financial reporting could impact the accuracy and timeliness of financial reporting.
• A decline in lithium prices may lead to increased competition from traditional lithium-ion batteries, affecting demand for the company's products.
• Supply chain issues, including disruptions caused by key suppliers, could adversely affect operations and financial results, impacting product delivery timelines.
• Increased scrutiny from stakeholders and regulators regarding ESG-related disclosures could result in additional costs and risks.
• The loss of key personnel could adversely affect the company's business, emphasizing the importance of retaining key management.