Announcement • May 23

Tritium DCFC Limited Intends Not to Appeal Nasdaq Delisting Determination

Tritium DCFC Limited (‘Tritium’ or the ‘Company’) previously reported, on April 18, 2024, that the Company and three of its Australian subsidiaries, Tritium Pty Ltd, Tritium Holdings Pty Ltd. and Tritium Nominee Pty Ltd. (together with the Company, the ‘Companies’) (i) were insolvent or likely to become insolvent, (ii) a voluntary administrator should be appointed under the Australian Corporations Act 2001 (the ‘Act’), and (iii) to appoint Peter James Gothard, James Douglas Dampney and William Martin Colwell of KPMG as joint and several administrators (together, the ‘Administrators’) pursuant to section 436A of the Act. Separately, on 19 April 2024, Shaun Fraser, Matthew Hutton, Kathy Sozou and Jamie Harris of McGrath Nicol were appointed Receivers and Managers of the Companies (excluding Tritium Nominee Pty Ltd.) and have assumed control of the assets, operations and affairs of the Companies subject to their appointment. The powers of the directors of the Companies are suspended during the administration period. The Company previously reported in its Form 6-K filed with the Securities and Exchange commission on April 18, 2024 that, pursuant to section 437F of the Act, a transfer of shares in the Company during the voluntary administration is void, except with the written consent of the Administrator or if approved by a court with jurisdiction under the Act. On April 18, 2024, following the Company’s report of the foregoing information, the Nasdaq Stock Market LLC (‘Nasdaq’) delivered to the Company a Staff determination letter, providing that Nasdaq had determined that the Company’s securities would be delisted from Nasdaq, trading of the Company’s ordinary shares and warrants would be suspended at the opening of business on April 22, 2024, and Nasdaq would file a Form 25-NSE with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on Nasdaq. Such letter provided that the foregoing actions were in accordance with Nasdaq Listing rules 5101, 5110(b) and IM-5101-1. On April 24, 2024, the Administrator delivered substantially identical letters to Nasdaq and FINRA, noting the appointment of the Administrator, and informing Nasdaq and FINRA that, as a result of the appointment of the Administrator pursuant to section 437F of the Act, shares in the Company cannot be transferred without the Administrator’s written consent or permission from the Australian Courts; therefore, shares and warrants of the Company should not be traded on Nasdaq or over the counter after April 18, 2024. Such letters further requested that the Company’s securities be placed in a trading halt immediately and until further notice. On May 12, 2024, Nasdaq advised the Company that, pursuant to Nasdaq’s obligations under Nasdaq Listing Rule 5830 and Rule 12d2-2 promulgated under the Securities Exchange Act of 1934, as amended, Nasdaq would issue a press release on May 15, 2024, stating, among other things, that the Company’s ordinary shares and warrants would be delisted from Nasdaq, Nasdaq would file a Form 25 with the SEC, and the delisting would become effective ten days after the Form 25 is filed. Nasdaq filed the Form 25 on May 16, 2024, and the attachment to such filing provides that Nasdaq has determined to remove from listing the securities of the Company, effective at the opening of the trading session on May 28, 2024. The Company does not intend to appeal or otherwise challenge the Staff’s determination to delist the Company’s securities from Nasdaq.

Announcement • Jan 15

Tritium Pty Ltd. completed the acquisition of Decarbonization Plus Acquisition Corporation II (NasdaqCM:DCRN) from Ilwella Pty Ltd, Decarbonization Plus Acquisition Sponsor II, LLC and others in a reverse merger transaction.

Tritium Pty Ltd. executed the letter of intent to acquire Decarbonization Plus Acquisition Corporation II (NasdaqCM:DCRN) (DCRN) from Ilwella Pty Ltd, Decarbonization Plus Acquisition Sponsor II, LLC and others for approximately $1.2 billion in a reverse merger transaction on March 5, 2021. Tritium Pty Ltd. entered into a definitive agreement to acquire Decarbonization Plus Acquisition Corporation II in a reverse merger transaction on May 25, 2021. As consideration, all existing shareholders of Tritium will transfer their Tritium Shares in exchange for an aggregate of 120 million fully paid ordinary shares in the capital of the combined company at $10 per share, each holder of DCRN warrants will receive in exchange an equal number of warrants to purchase shares of the combined company and each holder of Class A Common Stock of DCRN will receive in exchange an equal number of combined company shares. If the transaction is terminated, Tritium will pay a termination fee of $50 million to DCRN. Upon closing, the existing shareholders of Tritium will hold approximately 70% stake in the combined company. Upon closing of the transaction, the combined company will be named Tritium and will list its ordinary shares and warrants for trading on Nasdaq under the symbols “DCFC” and “DCFC WS,” respectively. Tritium’s existing Cigna facilities are expected to be required to be paid off at the time of closing of the Business Combination, which would reduce the amount of cash available to the combined company after closing of the Business Combination. However, with today’s announcement, Cigna is being joined by Barings in the establishment of a new facility that is expected to close concurrently with the Business Combination, which replaces the existing Cigna facilities with a larger facility that matures in 2024. The closing of this facility is subject to, among other things, the closing of the Business Combination, certain minimum cash requirements and other customary closing conditions. This facility is expected to allow Tritium to repay existing debt, including debt outstanding under the existing Cigna facilities, without the use of funds received from the DCRN trust account. With this facility, Tritium expects to bolster its liquidity upon closing and provide additional working capital. Robert Tichio, Chairman of DCRN, who will join the Board of Directors of the combined company at the close of the transaction. Jane Hunter will continue as the Chief Executive Officer of Tritium, alongside Co-Founders James Kennedy as Chief Technology Officer, David Finn as Chief Growth Officer and executives David Toomey as Chief Revenue Officer and Michael Hipwood as Chief Financial Officer. In addition, Jane Hunter, David Finn, Trevor St. Baker AO, Brian Flannery and Kara Frederick are expected to join the combined company's Board of Directors when the transaction closes. As of September 14, 2021, Edward T. Hightower will be added to the combined company’s Board of Directors following the closing of the transaction. The transaction is subject to customary closing conditions, among other things, the approval by DCRN's stockholders and satisfaction or waiver of the other conditions stated in the definitive documentation, including the waiver or expiration of a Tritium shareholder's right to acquire Tritium under the shareholder's deed in relation to Tritium. The transaction is subject to all required filings, waiting periods and approvals under the Hart Scott Rodino Antitrust Improvement Act of 1976 and of the Foreign Investment Review Board in Australia, the new shares of the combined company having been accepted for listing on the Nasdaq Capital Market and the registration statement has been declared effective by SEC. The transaction is subject to the new shares not constituting penny stock and the exit notice and share transfer shall have been duly executed. The transaction is subject to the condition that the sum of (A) the amount of cash in the Decarbonization Plus’s trust account and (B) the amount of cash proceeds to resulting from any private placements of New Ordinary Shares be not less than $200 million i.e., that DCRN have Trust Cash (as defined in the Business Combination Agreement) plus the aggregate proceeds received by NewCo from the PIPE Financing (as defined below) equaling at least $200 million. The Board of Directors of both Tritium and DCRN have unanimously approved the proposed transaction. As of January 12, 2022. Tritium waived the minimum cash condition required to be satisfied at the closing of the business combination. As of November 1, 2021, Decarbonization Plus Acquisition Corporation II has filed first amendment to the registration statement on Form F-4 (the "Registration Statement") in connection with DCRN's previously announced business combination with Tritium with the U.S. Securities and Exchange Commission. The transaction is expected to close in September 2021. As of August 24, 2021, the transaction is expected to close in the fourth quarter of 2021. As of October 13, 2021, the transaction is currently expected to occur in either December 2021 or January 2022. On December 10, 2021, Decarbonization Plus Acquisition Corporation II (the “Company”) issued an unsecured promissory note (the “Note”) in the principal amount of $1,500,000 to Decarbonization Plus Acquisition Sponsor II LLC (the “Sponsor”). The Note does not bear interest and is repayable in full upon consummation of the Company’s initial business combination (a “Business Combination”). If the Company does not complete a Business Combination, the Note shall not be repaid and all amounts owed under it will be forgiven. Immediately prior to the consummation of a Business Combination, the Sponsor shall have the option, but not the obligation, to convert all or a portion of the unpaid principal balance of the Note into that number of warrants to purchase one share of Class A Common Stock, $0.0001 par value per share, of the Company (the “Working Capital Warrants”) equal to the principal amount of the Note so converted divided by $1.50. As of December 21, 2021, the Special Meeting to approve the proposed business combination and related matters is scheduled to be held on January 12, 2022. As of January 12, 2022, shareholders of Decarbonization Plus Acquisition approved the transaction. As of December 22, 2021, the transaction is expected to close in January 2022. As of January 12, 2022, the transaction is expected to close on January 13, 2021. Ryan Maierson, David Taub, Grace Lee, Nineveh Alkhas, Damara Chambers, Christopher Leuking, Joshua Marnitz, Patrick English, Roderick Branch, Steven Betensky and Jason Morelli of Latham & Watkins LLP (US) acted as legal advisors for Tritium. Alex Feros of Corrs Chambers Westgarth (Australia), and the Australian Partnership of Ernst & Young acted as legal advisors for Tritium. Dan Komarek, Ramey Layne, David Peck, Jason McIntosh, Devika Kornbacher and Milam Newby of Vinson & Elkins L.L.P. (US) and Andrew Crook and Tennie Tam of Clifford Chance LLP (Australia) acted as legal advisors for DCRN. Credit Suisse acted as financial advisor to a shareholder consortium that owns a substantial majority and control stake in Tritium and JPMorgan Chase & Co. and Citigroup acted as financial advisors to Decarbonization Plus Acquisition Corporation II. David Ryan of Herbert Smith Freehills acted as legal advisor to Tritium. Mark Zimkind of Continental Stock Transfer & Trust Company is acting as transfer agent of DCRN. Morrow Sodali LLC is proxy solicitation agent of DCRN for a fee of $37,500. Tritium Pty Ltd. completed the acquisition of Decarbonization Plus Acquisition Corporation II (NasdaqCM:DCRN) from Ilwella Pty Ltd, Decarbonization Plus Acquisition Sponsor II, LLC and others in a reverse merger transaction on January 13, 2021.

CEO salary percentage	42.29%
CEO tenure	4.7yrs
CEO ownership	n/a
Management average tenure	2.5yrs
Board average tenure	2.8yrs

Date	Total Compensation	Salary	Company Earnings
Jun 30 2023	US$1m	US$520k	-US$121m
Mar 31 2023	n/a	n/a	-US$119m
Dec 31 2022	n/a	n/a	-US$116m
Sep 30 2022	n/a	n/a	-US$122m
Jun 30 2022	US$5m	US$392k	-US$129m

Name	Position	Tenure	Compensation	Ownership
Jane Hunter	Chief Executive Officer	4.7yrs	US$1.23m	no data
David Finn	Founder & Non-Executive Director	23.8yrs	US$271.00k	no data
Robert Topol	Chief Financial Officer	2.3yrs	US$1.02m	no data
Glen Casey	Chief Operating Officer	2.7yrs	US$672.75k	no data
Glen Bethel	Chief Technology Officer	1.4yrs	no data	no data
Vince Pecora	General Counsel & Company Secretary	less than a year	no data	no data
David Toomey	Chief Revenue Officer & Head of Corporate Development	1.8yrs	no data	no data
Michael Calise	President of Americas	4.8yrs	no data	no data
Sean Simmons	Joint Company Secretary	no data	no data	no data

Name	Position	Tenure	Compensation	Ownership
David Finn	Founder & Non-Executive Director	23.8yrs	US$271.00k	no data
Adam Walker	Independent Non-Executive Director	2.3yrs	US$367.27k	no data
Robert Tichio	Independent Non-Executive Chairman	2.8yrs	US$119.26k	no data
Edward Hightower	Independent Non-Executive Director	2.8yrs	US$178.86k	no data
Trevor St. Baker	Independent Non-Executive Director	11.8yrs	US$108.79k	17.08% $ 52.5k
Kenneth Braithwaite	Independent Non-Executive Director	2.8yrs	US$161.19k	no data

Data	Last Updated (UTC time)
Company Analysis	2024/11/21 09:18
End of Day Share Price	2024/11/21 00:00
Earnings	2023/06/30
Annual Earnings	2023/06/30

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Christopher Souther	B. Riley Securities, Inc.
Richard Tullis	Capital One Securities, Inc.
Pavel Molchanov	Raymond James & Associates

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Tritium DCFC Management

Management criteria checks 2/4

Key information

Recent management updates

Tritium DCFC Limited Announces Resignation of Jane Hunter as Executive Director

Tritium DCFC Limited, Annual General Meeting, Nov 30, 2023

Tritium DCFC Limited Appoints Glen Bethel as Chief Technology Officer and Brian Johns as Vice President of Product Development

High number of new directors

High number of new directors

Tritium DCFC Limited Announces Chief Financial Officer Changes

Recent updates

Tritium DCFC Limited Announces Resignation of Jane Hunter as Executive Director

Tritium DCFC Limited Intends Not to Appeal Nasdaq Delisting Determination

A Piece Of The Puzzle Missing From Tritium DCFC Limited's (NASDAQ:DCFC) Share Price

Tritium Unveils Autocharge Software Capability for RTM and PKM Chargers

Price target increased by 18% to US$4.35

Tritium DCFC Limited, Annual General Meeting, Nov 30, 2023

New major risk - Financial position

Tritium DCFC Receives Nasdaq Notice Regarding Minimum Bid Price Requirement

No longer forecast to breakeven

Price target decreased by 19% to US$4.07

Tritium DCFC Limited Reaffirms Earnings and Production Guidance for the Year 2023

Full year 2023 earnings: Revenues exceed analyst expectations

Tritium DCFC Limited to Report Fiscal Year 2023 Results on Sep 21, 2023

Price target decreased by 7.4% to US$5.00

Positive Sentiment Still Eludes Tritium DCFC Limited (NASDAQ:DCFC) Following 32% Share Price Slump

Price target increased by 8.0% to US$5.40

Tritium DCFC Limited Appoints Glen Bethel as Chief Technology Officer and Brian Johns as Vice President of Product Development

Price target decreased by 11% to US$4.57

Forecast to breakeven in 2025

Tritium DCFC Limited Provides Earnings Guidance for the Fiscal Year 2023

First half 2023 earnings released

Price target decreased to US$7.75

Forecast to breakeven in 2024

Forecast to breakeven in 2024

High number of new directors

Forecast breakeven date pushed back to 2024

Full year 2022 earnings released: US$1.01 loss per share (vs US$0.86 loss in FY 2021)

Tritium DCFC Limited Provides Revenue Guidance for the Calendar Year 2022

Tritium DCFC reports FY results

Tritium DCFC Limited to Report Q4, 2022 Results on Sep 22, 2022

Tritium DCFC Limited announced that it expects to receive $135 million in funding from B. Riley Principal Capital II, LLC,

Price target decreased to US$14.13

Tritium DCFC announces $150M debt facility, $75M committed equity facility

Tritium DCFC opens its US EV fast charger production plant

High number of new directors

Tritium DCFC Limited Announces Chief Financial Officer Changes

Tritium DCFC names former Intel exec Topol as next CFO

Tritium DCFC Limited Announces Executive Changes

High number of new directors

Tritium DCFC to supply 100 rapid chargers to Motor Fuel

Forecast to breakeven in 2023

Tritium Dcfc Limited Announces Executive Changes

Tritium's Supercharged Price Is Not Supported By Fundamentals

Tritium Could Be Charging The EV Future And I Think It Looks Cheap

Tritium Pty Ltd. completed the acquisition of Decarbonization Plus Acquisition Corporation II (NasdaqCM:DCRN) from Ilwella Pty Ltd, Decarbonization Plus Acquisition Sponsor II, LLC and others in a reverse merger transaction.

CEO Compensation Analysis

CEO

Leadership Team

Board Members

Company Analysis and Financial Data Status

Data Sources

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