Risk Factors Update Summary

• The Company received proceeds of $15.2 million in 2022 and $225.1 million in 2023 from the sale of marketable securities.
• The Company recorded stock-based compensation expense of $49 million in 2022 and $26 million in 2023, with unrecognized expenses decreasing from $65 million to $32 million.
• The Company evaluates gross unrealized losses for U.S. government and agency securities and corporate notes and bonds, with a total of $3,251 in unrealized losses.
• Increase in federal and California research and development credits from $68 million to $86 million.
• The Company evaluates the current expected credit loss for marketable securities, with a total of $1,068,572 in Level 1 and Level 2 securities.
• The Company granted performance-based restricted stock units (PSUs) in 2023, with unrecognized expenses of $17.3 million as of December 31, 2023.
• The Company evaluates gross unrealized losses for U.S. government and agency securities and corporate notes and bonds, with a total of $3,251 in unrealized losses.
• The Company evaluates gross unrealized losses for U.S. government and agency securities and corporate notes and bonds, with a total of $3,251 in unrealized losses.
• Federal tax credit carryforwards increased from $52,802 to $68,057.
• The Company evaluates gross unrealized losses for U.S. government and agency securities and corporate notes and bonds, with a total of $3,251 in unrealized losses.
• The Company evaluates gross unrealized losses for U.S. government and agency securities and corporate notes and bonds, with a total of $3,251 in unrealized losses.
• Reduction in current year income tax positions from $15,113 to $12,388.
• The Company incurred an impairment charge of approximately $21.5 million for property and equipment in 2022.
• The Company evaluated the Assumed Common Stock Warrants under ASC and recorded them as liabilities on the Consolidated Balance Sheets.
• Change in CEO appointment and compensation structure expected to have a material impact.
• Changes in reporting dates from 2022 to 2023 across various sections.
• The Company established the 2023 Bonus Plan, with awards settled in the form of restricted stock units upon meeting service and performance conditions.
• Amendments to various agreements and letters with significant dates and parties involved.
• The Company issued Class A Common Stock pursuant to the Purchase Agreement, net of issuance costs, totaling $99.9 million in 2023.
• The Company recognized a $168.7 million gain in 2021, with no non-cash change in fair value of Assumed Common Stock Warrant liabilities.