Early Expiration Price Condition for Warrants Satisfied Alternate Expiration Date Elected

Core Viewpoint - Enovix Corporation has announced the early expiration of its warrants, which must be exercised by 5:00 p.m. New York City time on August 29, 2025, following the achievement of a volume-weighted average price (VWAP) of its common stock exceeding $10.50 [1][4] Summary by Sections Warrant Exercise Details - The warrants will cease trading on Nasdaq at 4:00 p.m. New York City time on August 29, 2025, and must be exercised by 5:00 p.m. on the same day, provided the VWAP of the common stock is at least $8.75 for the two trading days prior to expiration [2] - Each warrant can be exercised for one share of common stock at an exercise price of $8.75, with approximately 12.3 million warrants already exercised, generating about $107.5 million in gross proceeds [3][4] Company Statements - Raj Talluri, President and CEO, emphasized that reaching the early expiration trigger reflects strong shareholder confidence and highlights the momentum behind Enovix's advanced battery technology [4] - Ryan Benton, CFO, noted the achievement strengthens the company as it ramps up production and commercialization activities, laying the foundation for sustainable growth [4] Additional Information for Warrant Holders - The company has implemented a process allowing warrant holders to cash-exercise their warrants using a Notice of Guaranteed Delivery if their financial institution cannot complete the exercise in time [5] - Warrant holders must submit the Notice and payment before the 5:00 p.m. deadline on August 29, 2025, to ensure their warrants are exercised [5] Company Overview - Enovix is a leader in lithium-ion battery technology, focusing on silicon-anode batteries designed for various applications, including wearable electronics and electric vehicles [8] - The company's technology aims to provide higher energy density and improved safety, addressing the growing demand for high-performance energy storage solutions [8]