Microvast (MVST) Registration Filing summary

Company overview and business model

• Designs, develops, and manufactures advanced battery components and systems for electric commercial vehicles and utility-scale energy storage systems.

• Headquartered in Stafford, Texas, with origins dating back to 2006 and re-incorporated in Delaware in 2015.

• Became a public entity through a business combination in July 2021.

Financial performance and metrics

• Financial statements for the years ended December 31, 2023 and 2022, and for each of the three years in the period ended December 31, 2023, have been audited by Deloitte Touche Tohmatsu Certified Public Accountants LLP.

Use of proceeds and capital allocation

• Net proceeds from the sale of securities will be used for general corporate purposes, including repayment or refinancing of indebtedness, increasing working capital, acquisitions, and capital expenditures.

• No proceeds will be received from the sale of shares by the selling stockholder.