Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark One) OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ ______________________ Hyzon Motors Inc. (Exact name of registrant as specified in its charter) ______________________ Delaware 001-39632 82-2726724 (State or other jurisdiction of incorporation) (Commissi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-K _________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the annual period ended December 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from ________ to ________ Commission File Number 001-39632 _________________________ Hyzon Motors In ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ ______________________ Hyzon Motors Inc. (Exact name of registran ...

Revenue Performance - Revenue for the three months ended June 30, 2022, was $46,000, a significant increase from negligible revenue in the same period of 2021[123]. - The company reported $2.9 million in revenue from hydrogen fuel cell systems and retrofit services for the six months ended June 30, 2022[110]. - Revenue for the six months ended June 30, 2022, was $2.9 million, representing sales of fuel cell systems in the U.S., FCEVs in China, and retrofit services in Europe, compared to no revenue for the same period in 2021[136]. Operating Expenses - Operating expenses for the three months ended June 30, 2022, totaled $31.9 million, up 244% from $9.3 million in the same period of 2021[125]. - Operating expenses for the six months ended June 30, 2022, were $59.3 million, significantly higher than $13.0 million for the same period in 2021[137]. - Selling, general, and administrative expenses rose by 246% to $20.1 million for the three months ended June 30, 2022, compared to $5.8 million in 2021[123]. - Selling, general, and administrative expenses rose to $39.8 million for the six months ended June 30, 2022, compared to $8.9 million in 2021, driven by higher legal, accounting, and consulting fees totaling $8.2 million[142]. - Research and development expenses increased by 202% to $10.5 million for the three months ended June 30, 2022, compared to $3.5 million in 2021[123]. - Research and development expenses increased to $17.4 million for the six months ended June 30, 2022, from $4.1 million in 2021, primarily due to $7.1 million in higher personnel costs and $6.2 million for materials[140]. Net Loss - The net loss attributable to Hyzon for the three months ended June 30, 2022, was $42.0 million, compared to a loss of $9.4 million in the same period of 2021, representing a 546% increase in loss[123]. - Net loss attributable to noncontrolling interests was $5.5 million for the six months ended June 30, 2022, up from $0.5 million in 2021, due to increased activities in joint ventures[149]. - The company expects to continue incurring net losses in the near term while focusing on advancing its proprietary fuel cell technology and commercializing heavy-duty vehicle platforms[156]. Cash Flow and Financial Position - Net cash used in operating activities was $68.9 million for the six months ended June 30, 2022, up from $19.5 million in the same period of 2021[164]. - As of June 30, 2022, the company had $363.9 million in unrestricted cash and cash equivalents, with positive working capital of $405.3 million[155]. - The company has no debt as of June 30, 2022, following the conversion of convertible notes into common stock[162]. - Net cash used in investing activities was $7.7 million for the six months ended June 30, 2022, primarily for property and equipment[166]. Strategic Plans and Business Model - Hyzon plans to expand its integration activities across rail, aviation, and mobile power applications, anticipating growth in these sectors due to technological advances in hydrogen fuel cells[107]. - The company is focused on building a clean hydrogen supply ecosystem and collaborating with strategic partners for hydrogen production and refueling stations[108]. - Hyzon's business model relies on third-party vehicle assemblers to maintain an asset-light approach and lower production costs[106]. - The company aims to achieve cash flow breakeven during the last two quarters of 2022 and the first quarter of 2023[159]. - The company has identified optimizations in its business model to reduce working capital requirements for fuel cell system manufacturing[159]. Internal Control and Governance - Material weaknesses in internal control over financial reporting were identified, including ineffective risk assessment and insufficient qualified resources[190]. - The company has appointed a new Chief Executive Officer and Interim Chief Financial Officer as part of its remediation plan for internal control weaknesses[193]. - A comprehensive risk assessment process is being designed to identify and assess risks of material misstatements in financial reporting[193]. - The company plans to implement formal policies and documentation procedures related to financial reporting and revenue recognition[193]. - There have been no changes in internal control over financial reporting that materially affected the company during the quarter ended June 30, 2022[195].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR (I.R.S. Employer Identification No.) 475 Quaker Meeting House Road Honeoye Falls, NY 14472 (Address of principal executive offices) (Zip Code) (585)-484-9337 (Registrant's telephone number, including area code) Not A ...

Hyzon Motors Inc. (NASDAQ:HYZN) Q1 2022 Results Earnings Conference Call May 6, 2022 8:30 AM ET Company Participants Darla Rivera - Investor Relations Manager Craig Knight - Chief Executive Officer and Co-Founder Mark Gordon - Senior Adviser and Former Chief Financial officer Sam Chong - Chief Financial officer Conference Call Participants Michael Shlisky - D.A. Davidson & Co. William Peterson - J.P. Morgan Securities LLC Jerry Revich - Goldman Sachs Steven Fox - Fox Advisors LLC Noel Parks - Tuohy Brothers ...

Hyzon Motors Business Update HYZON MOTORS | May 6, 2022 Disclaimer FORWARD-LOOKING STATEMENTS This presentation (this "Presentation") includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," the negative of such terms or other similar expre ...

Financial Performance - Hyzon reported $6.0 million in revenue for 2021, indicating that its business model is still in the early stages of commercialization [373]. - Revenue for the year ended December 31, 2021, was $6.0 million, a significant increase from $0 for the period from January 21, 2020, to December 31, 2020 [388]. - Total operating expenses for the year ended December 31, 2021, were $107.4 million, compared to $14.2 million for the prior period, representing a 655% increase [389]. - Net loss attributable to Hyzon for the year ended December 31, 2021, was $13.8 million, a slight decrease of 3% from the previous period's loss of $14.3 million [388]. - The Company incurred net losses of $19.3 million for the year ended December 31, 2021, and an accumulated deficit of $28.1 million as of the same date [480]. - The Company recorded net foreign currency transaction losses of $1.3 million for the year ended December 31, 2021 [516]. Research and Development - The company expects to incur substantial research and development expenses as it aims to maintain its leadership in hydrogen technology [377]. - Research and development expenses increased to $16.4 million for the year ended December 31, 2021, from $1.4 million in the previous period, marking a 1037% increase [393]. - The Company expensed research and development costs as incurred, focusing on improving existing products and developing new ones [520]. Cash Flow and Capital Structure - The Business Combination with DCRB generated approximately $512.9 million in cash, net of transaction costs, which will be used for general corporate purposes, including infrastructure development and R&D [367][369]. - The company incurred net cash used in operating activities of $95.2 million for the year ended December 31, 2021, compared to $1.2 million for the prior period [409]. - Net cash used in investing activities was $23.7 million for the year ended December 31, 2021, primarily due to $14.5 million in capital expenditures and $4.3 million in machinery and equipment deposits [416]. - Net cash provided by financing activities was $550.7 million for the year ended December 31, 2021, primarily from $512.9 million in proceeds from the Business Combination [418]. - The company is exploring raising additional capital through its subsidiary, Hyzon Zero Carbon, Inc., to invest in hydrogen production, distribution, and fueling stations [410]. - As of December 31, 2021, the company had $445.1 million in unrestricted cash and positive working capital of $464.0 million [409]. Business Operations and Strategy - Hyzon plans to invest in the construction of hydrogen production hubs and refueling stations to support its back-to-base model, with a focus on low-to-negative carbon intensity hydrogen [376]. - The company signed a memorandum of understanding with TotalEnergies to supply 80 hydrogen fuel cell-powered trucks for TotalEnergies' French customers [360]. - Hyzon has entered into agreements with multiple partners, including Raven SR and RenewH2, to develop hydrogen production and supply infrastructure [361][362]. - Hyzon's customer base is expected to expand beyond initial major customers to include longer-haul trucks, buses, and other mobility applications [378]. - The competitive landscape includes established vehicle companies and other fuel cell manufacturers, with Hyzon positioned to capitalize on the growing demand for hydrogen-powered vehicles [384]. - Hyzon's hydrogen solutions are aimed at commercial vehicle operators seeking to decarbonize and reduce total cost of ownership compared to traditional vehicles [383]. Liabilities and Obligations - The company has contractual obligations totaling $49.96 million as of December 31, 2021, with significant payments due in 2022 and 2023 [419]. - Total liabilities as of December 31, 2021, were $160.3 million, up from $6.2 million as of December 31, 2020 [460]. - The Company accrued warranty obligations of $1.1 million within Other liabilities as of December 31, 2021 [490]. Shareholder and Equity Information - The Business Combination resulted in the issuance of approximately 173.4 million shares of Class A common stock [535]. - The total shares of common stock immediately after the Business Combination amounted to 246,994,209 [542]. - The earnout liability was recorded at $188.4 million at the close of the Business Combination and decreased to $103.8 million by December 31, 2021 [548]. - The earnout shares granted to legacy common stockholders could total up to 23,250,000 shares based on stock price performance over five years [547]. - The Company completed PIPE Financing for an aggregate commitment of $355 million at $10.00 per share [539]. Market and Industry Challenges - Supply chain disruptions continue to impact the automotive industry, affecting the availability and cost of key components like semiconductors [380]. - The Company has incurred significant expenses and is expected to continue incurring losses for the foreseeable future due to various risks and uncertainties [482]. - The company has established relationships with several customers, but faces risks of unilateral termination or reduction in business from these customers [553].

Hyzon Motors Business Update HYZON MOTORS | March 23, 2022 Disclaimer FORWARD-LOOKING STATEMENTS This presentation (this "Presentation") includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," the negative of such terms or other similar ex ...

Hyzon Motors Inc. (NASDAQ:HYZN) Q4 2021 Earnings Conference Call March 23, 2022 8:30 AM ET Company Participants Darla Rivera - Investor Relations Manager Craig Knight - Chief Executive Officer Pat Griffin - President of Vehicle Operations Mark Gordon - Chief Financial officer Conference Call Participants Jerry Revich - Goldman Sachs Courtney Yakavonis - Morgan Stanley Rob Wertheimer - Melius Research Bill Peterson - J.P. Morgan Jed Dorsheimer - Canaccord Genuity Mike Shlisky - D.A. Davidson Steven Fox - Fox ...