BRISBANE, Australia, March 31, 2023 – Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), welcomed Australian Prime Minister Anthony Albanese to the company’s campus in Brisbane, Australia earlier today. During his visit, the Prime Minister toured Tritium’s state-of-the-art test and R&D facilities, which feature the world’s highest power-enabled electromagnetic compatibility (EMC) testing chamber, thermal testing chambers, impact testing, and more. The Prime Minister’s visit with Tritium comes on the heels of the introduction of the National Reconstruction Fund, which is part of the Government’s plan to rebuild Australia’s industrial base.

During his visit, the Prime Minister said, “This is my third visit to Tritium. Every time I come back, I hear about more revenue, more jobs being created, and more countries where Australia is exporting to. This is a great success story here and I congratulate everyone at Tritium for their achievements.”

The $15 billion National Reconstruction Fund will provide loans, guarantees, and equity to support projects that create secure and well-paid jobs, drive regional development, and build Australia’s sovereign capability. The National Reconstruction Fund will support existing and emerging industries to capture new opportunities, including from the transition to net zero emissions. Tritium’s business encompasses many of the Fund’s identified key priorities for investment, including renewables and low emission technologies, transport, and advanced manufacturing.

“We were delighted to host the Prime Minister at our Brisbane R&D centre and welcome the government’s interest in our world-leading technology, which is enabling the transition to a zero-emissions transport sector in 42 countries across the globe,” said Jane Hunter, CEO of Tritium. “Tritium represents one part of the Australian industrial base of the future, diversifying the economy through an advanced technology global export and manufacturing business, which derives most of its revenue from the European and North American markets. The fact that our infrastructure technology also reduces dangerous emissions and builds a cleaner, greener planet, is the icing on the cake.”

Tritium is committed to driving innovation in the EV charging industry and builds the only fully liquid cooled and fully sealed fast charger on the market. The company holds number one market share for EV fast chargers in Australia and the United States and is among the top global manufacturers by market share.[1] Tritium is one of only two manufacturers with a footprint that spans North America, Europe, and the Asia Pacific region.

The visit by the Prime Minister comes in the same week as another high-profile government engagement Tritium hosted in the United States. White House Senior Advisor and Infrastructure Coordinator Mitch Landrieu visited Tritium’s Lebanon, Tennessee factory to celebrate opening the order book for Tritium’s fast charger for the National Electric Vehicle Infrastructure (NEVI) Formula Program.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, visit tritiumcharging.com

Forward Looking Statements

This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

No Offer

This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.

Media Contact
Jack Ulrich
[email protected]

Investor Contact
Cary Segall
[email protected]

[1] Excluding China.

Announcement follows visit from White House Senior Advisor Mitch Landrieu to Tritium’s Tennessee manufacturing facility

LEBANON, Tennessee, MARCH 30, 2023—Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today announced it is now accepting orders for the company’s first product offering for the National Electric Vehicle Infrastructure (NEVI) Formula Program. The charging system will include four of Tritium’s 150kW PKM150 charging stations, along with two power rectifiers.

“The NEVI program has opened up an unprecedented opportunity to advance the e-mobility transition in the United States, leading to a manufacturing boom in the country,” said Tritium CEO Jane Hunter. “As we continue to scale production at our Tennessee facility, Tritium is proud to deliver a product that allows states to put these funds to use and provide U.S. drivers with the EV infrastructure they need. As the demand for reliable and accessible fast charging continues to grow across the country, Tritium will remain an industry leader, providing innovative and effective product solutions.”

President Biden established the NEVI program upon signing the Bipartisan Infrastructure Law in 2021. The NEVI program provides $5 billion in funding over five years to help build a coast-to-coast network of qualifying DC fast chargers.

Last September, the Federal Highway Administration (FHWA) approved the Electric Vehicle Infrastructure Deployment Plans for all 50 states, Washington DC, and Puerto Rico, granting them access to FY22 and FY23 NEVI funding. Ohio, Pennsylvania, Colorado, Alaska, and Hawaii have begun to allocate their first rounds of NEVI funding, and most other states are anticipated to provide access to funding in 2023. This initial round of funding totals more than $1.5 billion to help build EV chargers covering approximately 75,000 miles of federal highway nationwide.

Yesterday, Tritium had the pleasure of welcoming White House Senior Advisor and Infrastructure Coordinator Mitch Landrieu to our Tennessee facility. Mr. Landrieu was given a tour of our state-of-the-art factory and engaged in a productive roundtable discussion with Tritium leadership and state and local officials. The discussion covered topics such as workforce development needs and opportunities in Middle Tennessee to further advance the e-mobility sector, as well as the Bipartisan Infrastructure Law and how the NEVI program is creating manufacturing opportunities across the country, including for companies like Tritium.

Tritium’s first NEVI product is expected to achieve the FHWA’s Build America, Buy America Act waiver milestones, which includes two phases announced by the FHWA last month. First, starting March 23, 2023, manufacturers were required to conduct final assembly and all manufacturing processes for any iron or steel charger enclosures or housing in the United States. By July 2024, manufacturers must also domestically source at least 55% of the cost of components used in charging equipment.

Tritium’s NEVI charging system delivers 150kW of power to four EVs simultaneously through a reliable and modular fast charger system. Thanks to multiple chargers and power rectifier units, the Tritium NEVI solution provides high site reliability and uptime.

“Tritium’s first NEVI-compliant product is a testament to our dedication to delivering comprehensive solutions for our U.S. customers,” said Mike Calise, Tritium President of the Americas. “Our new charging system is designed to achieve NEVI program requirements, demonstrating our commitment to advancing the U.S. e-mobility transition and helping charging site operators meet the NEVI program’s 97% uptime requirement. As the industry continues to grow, Tritium is proud to lead the way with cutting-edge products and unparalleled customer service.”

Tritium expects to expand its offerings for the Bipartisan Infrastructure Law programs, including the NEVI program and Charging and Fueling Infrastructure (CFI) discretionary grant program, as the company’s new products enter the market.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

Forward Looking Statements

This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Media Contacts
Jack Ulrich
[email protected]

Investor Contact
Cary Segall
[email protected]  

BRISBANE, Australia, March 23, 2023 – Tritium DCFC Limited (the “Company”) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today announced that three registration statements on Form F-3, each filed by the Company on March 10, 2023, were declared effective on the dates detailed below. The Company became eligible to use Form F-3 for the first time in February 2023. The Company has provided the following summaries of the newly effective registration statements:

• Universal shelf registration statement on Form F-3 (File No. 333-270438) (the “Universal F-3”). The Universal F-3 relates to the offer and sale by the Company of up to $500,000,000 in the aggregate of its ordinary shares, no par value (“Ordinary Shares”), preference shares, warrants to subscribe for Ordinary Shares, rights to subscribe for Ordinary Shares and units consisting of any combination of the other types of securities offered under the prospectus included therewith from time to time in one or more offerings (or not at all). The specific terms of any such offering(s) will be included in one or more prospectus supplement(s). The Company has no immediate plans to offer or sell any securities to the public under the Universal F-3, and the Universal F-3 can remain effective for up to three years. The Company believes filing the Universal F-3 puts it in a position to respond to future financing and business opportunities on a timely basis, as market conditions permit and should it desire. The Universal F-3 was declared effective on March 21, 2023.

• Resale registration statement on Form F-3 (File No. 333-270436) (the “Resale F-3”). The Resale F-3 contains:
  • a base prospectus relating to the resale by certain legacy shareholders of the Company of up to 52,886,962 Ordinary Shares as well as to the primary issuance of up to 9,268,131 Ordinary Shares upon exercise of the company’s public warrants, which such securities were previously included on the Company’s registration statement on Form F-1 (File No. 333-262681) originally filed on February 11, 2022, and
  • a base prospectus relating to the resale of up to 1,534,410 warrants held by certain lenders (or their affiliates) of the Company as well as to up to 3,736,935 Ordinary Shares issued or issuable upon exercise of such warrants, which such prospectus was filed to replace part of the prospectus contained in the registration statement on Form F-1 (File No. 333-268037) filed by the Company on October 28, 2022 relating to the same securities (such Form F-1 was never declared effective and the Company has since requested its withdrawal).

The Resale F-3 was filed by the Company, now that it is eligible to register securities on the shorter Form F-3, in order to replace registration statements previously filed on the longer Form F-1. This registration statement is required by resale registration rights held by the selling securityholders named therein. The Resale F-3 was declared effective on March 21, 2023.

• Committed Equity Facility resale registration statement on Form F-3 (File No. 333-270437) (the “CEF F-3”). The CEF F-3 relates to the previously announced committed equity facility (the “Committed Equity Facility”) entered into by the Company with B. Riley Principal Capital II pursuant to which the Company has the right to sell to B. Riley Principal Capital II up to $75,000,000 of Ordinary Shares, subject to certain limitations and conditions set forth in the related Ordinary Shares Purchase Agreement. The CEF F-3 was filed to replace the registration statement on Form F-1 (File No. 333-268037) filed by the Company on October 28, 2022 relating in part to the Committed Equity Facility. Such Form F-1 was never declared effective and the Company has since requested its withdrawal. The CEF F-3 was declared effective on March 23, 2023.  Similar to the Universal F-3, the Company has no immediate plans to offer or sell any securities under the Committed Equity Facility pursuant to the CEF F-3. The company may in its sole discretion choose to make sales under the Committed Equity Facility in the future should market conditions permit.

The foregoing summaries of the registration statements are qualified in their entirety by reference to the full text of the applicable registration statement, each of which were filed with the SEC on March 10, 2023.

No Offer

This press release shall not constitute an offer to sell nor the solicitation of an offer to buy the securities offered by the registration statements described above, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, also known as the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact and generally relate to future events, hopes, intentions, strategies, or performance may be deemed to be forward-looking statements. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “might,” “possible,” “believe,” “predict,” “potential,” “continue,” “aim,” “strive,” and similar expressions may identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expressed or implied forwarding-looking statements, including, but not limited to: our history of losses; the ability to successfully manage our growth; the adoption and demand for electronic vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; the accuracy of our forecasts and projections including those regarding our market opportunity; competition; our ability to secure financing; delays in our manufacturing plans; losses or disruptions in supply or manufacturing partners; risks related to our technology, intellectual property and infrastructure; exemptions to certain U.S. securities laws as a result of our status as a foreign private issuer; and other important factors discussed under the caption “Risk Factors” in the Company’s annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on September 22, 2022, as such factors may be updated from time to time in the Company’s other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Company’s website at https://investors.tritiumcharging.com/. Any investors should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC as most of the factors are outside the Company’s control and are difficult to predict. As a result, the Company’s actual results may differ from its expectations, estimates and projections and consequently, such forward-looking statements should not be relied upon as predictions of future events. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as to management expectations and beliefs as of the date they are made. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Media Contact
Jack Ulrich
[email protected]

Investor Contact
Cary Segall
[email protected]

BRISBANE, Australia, March 9, 2023 – Tritium DCFC Limited (Nasdaq: DCFC) (“Tritium” or the “Company”), a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced record sales orders, record revenue, and record backlog for the Company’s 2022 calendar year, and released financial statements for the six-month period ended December 31, 2022.

Calendar Year 2022 Results

• Received record sales orders valued at $195 million in calendar year 2022, representing an increase of 38% over the previous calendar year’s result of $141 million
• Achieved record revenue of $102 million in calendar year 2022, at the high-end of the previously announced range of $95 – $102 million, of which $73 million was achieved in the six months ended December 31, 2022, a 27% increase over the results of the corresponding six-month period ended December 31, 2021
• Cash and cash equivalents of $69 million as at December 31, 2022
• Achieved a record purchase order backlog of approximately $159 million at December 31, 2022

Second Half 2022 Calendar Year Results

• Achieved record backlog and revenue in the second half of the 2022 calendar year
• Had backlog of $159 million at December 31, 2022, and achieved revenue of $73 million for the six-month period ended December 31, 2022, representing increases of 115% and 27%, respectively, compared to the same period in the 2021 calendar year
• Gross margin was -9.7% for the six-month period ended December 31, 2022, which is reflective of ramp-up costs while the Company invested in and opened its new Tennessee factory and is expected to normalize over the course of calendar year 2023, particularly in the second half
• December 31, 2022, Tritium reported $69 million in cash and cash equivalents and $107 million in raw materials and finished goods inventory
• Net comprehensive loss was $56 million for the six-month period ended December 31, 2022, a 17% improvement from the corresponding prior six-month period ended December 31, 2021

“We remain focused on our goal of becoming the number one global manufacturer of electric vehicle fast chargers,” said Tritium CEO Jane Hunter. “We invested in a US factory earlier than our competitors and on a bigger scale. We expect our Tennessee factory to become our global revenue engine, in part by unlocking the benefits of the US government’s $7.5 billion of funding for EV chargers and maintenance, which requires domestically built charging equipment and will ultimately require more than 55% locally sourced components. Our new factory started shipping products to customers in August 2022 and, with the recent announcement of the final Build America, Buy America guidelines for the NEVI program, we believe Tritium has a major head start and a leading position in supplying fast chargers for the US through what we expect will soon be the highest capacity fast charger factory in the country.”

2023 Calendar Year Guidance

• Tritium reaffirms expected revenue for the 2023 calendar year in excess of $200 million, corresponding to annual growth of over 100%, and reaffirms the timeline with approximately 35% forecast for the first half of the 2023 calendar year and the balance in the second half of the 2023 calendar year
• Tritium expects gross margin to improve to between 10% and 12% for calendar year 2023, particularly through the second half as the Tennessee factory starts to hit scaled production targets and the manufacturing overhead associated with a greenfield facility is absorbed. The Company will also benefit from lower cost freight routes from the East Coast of the US to Europe, delivering stock via truck instead of air or sea to North America, as well as price increases implemented in the 2022 calendar year, which require backlog builds to be completed to be fully realized
• Tritium expects to become EBITDA positive during the first half of the 2024 calendar year

Tritium continues to see strong customer growth, with increasing orders from charge point operators, fleets, utilities, and the fuel and convenience segments, many of which have shared public plans to install tens of thousands of electric charging stations over the next five years.

“Our results in the second half of 2022 demonstrate the strength of Tritium’s position in the global fast charging market as we address the demands of the growing electric vehicle industry,” said Tritium CFO Rob Topol. “With our new state-of-the-art Tennessee factory coming online and increasing production capacity, we are confident that Tritium will continue to be a leader in the global transition to electric mobility and drive sustainable change for a cleaner and greener future.”

In support of this accelerating demand from new and existing customers for Tritium’s fast chargers, the Company expects to scale the Tennessee factory to five production lines and two shifts on two of those lines by the end of the 2023 calendar year. Through this production ramp, the Company expects to produce a total of 11,000 units for the 2023 calendar year and projects global annualized production rates of 16,000 units by December 2023 and 28,000 units by December 2024. Tritium believes the Company’s planned US production capacity remains the highest of any publicly announced DC fast charger manufacturer in the US.

Based on management estimates, at December 31, 2022 Tritium believes it held the #1 universal fast charger market share in the US, Australia, and New Zealand, and the #3 position across Europe.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

Presentation of Information

Unless otherwise indicated, references to a particular “fiscal year” are to our fiscal year ended June 30 of that year. References to a year other than a “fiscal” or “fiscal year” are to the calendar year ended December 31.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, also known as the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press releasethat are not statements of historical fact and generally relate to future events, hopes, intentions, strategies, or performance may be deemed to be forward-looking statements. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “might,” “possible,” “believe,” “predict,” “potential,” “continue,” “aim,” “strive,” and similar expressions may identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expressed or implied forwarding-looking statements, including, but not limited to: our history of losses; the ability to successfully manage our growth; the adoption and demand for electronic vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; the accuracy of our forecasts and projections including those regarding our market opportunity; competition; our ability to secure financing; delays in our manufacturing plans; losses or disruptions in supply or manufacturing partners; risks related to our technology, intellectual property and infrastructure; exemptions to certain U.S. securities laws as a result of our status as a foreign private issuer; and other important factors discussed under the caption “Risk Factors” in the Company’s prospectus filed pursuant to Rule 424(b)(3) filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2022, as such factors may be updated from time to time in the Company’s other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Company’s website at https://investors.tritiumcharging.com/. Any investors should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC as most of the factors are outside the Company’s control and are difficult to predict. As a result, the Company’s actual results may differ from its expectations, estimates and projections and consequently, such forward-looking statements should not be relied upon as predictions of future events. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as to management expectations and beliefs as of the date they are made. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

No Offer

This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.

Condensed Consolidated Statements of Operations and Comprehensive Loss
For the six months ended December 31, (unaudited)

Condensed Consolidated Statements of Financial Position
As at December 31, (unaudited)

Condensed Consolidated Statements of Cash Flows
For the six months ended December 31, (unaudited)

Supplemental information to the condensed consolidated statement of cash flows:

###

Media Contact
Jack Ulrich
[email protected]

Investor Contact
Cary Segall
[email protected]

Amid growing demand for its chargers, Tritium continues to invest in its U.S. manufacturing facility

LEBANON, Tenn., February 15, 2023 —Tritium DCFC Limited (“Tritium” of the “Company”) (Nasdaq: DCFC), a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced that the Company will be adding more than 250 jobs to the total anticipated workforce at its Lebanon, Tennessee factory. The Company also shared the recent achievement of International Organization for Standardization (“ISO”) certifications at the facility.

“The need for accessible, reliable fast EV chargers has never been greater, as demonstrated by our record production in December, and recently announced record backlog and sales. Tritium is thrilled to be growing our team and creating new cleantech jobs in the Middle-Tennessee region,” said Tritium CEO Jane Hunter. “Alongside our rapid growth, Tritium remains focused on building a workplace that is attractive to our employees and grows our reputation in the region. We look forward to expanding the business in 2023 as we continue to pursue Tritium’s mission to electrify transportation.”

The 250+ jobs included in this announcement will add to the more than 500 jobs over the next five years in Lebanon, Tennessee that the Company announced in February 2022.

Demonstrating its commitment to creating high-quality jobs, Tritium is a participant in the White House Infrastructure Talent Pipeline Challenge, a nationwide initiative to create equitable job opportunities in growing industries, such as electrification. Tritium’s employee-focused programs include an apprenticeship partnership with the Tennessee Department of Labor and Workforce Development and the Tennessee College of Applied Technologies. The Company is also developing an employee ride-share program in partnership with Enterprise, as well as pursuing childcare assistance options.

“Tritium is thrilled by the ongoing growth and success of the Lebanon facility throughout our first year of operation,” said Keith Hutchison, Chief People Officer at Tritium. “We’re continuously impressed by the drive and talent of our local team and are eager to expand our workforce amid exciting growth Company-wide.”

Tritium also recently achieved several certifications from the ISO at its Tennessee facility. The ISO is a global industry standard that certifies the implementation of high-quality processes. Tritium earned the following ISO certifications:

• ISO 9001:2015, quality management systems
• ISO 14001:2015, environmental management systems
• ISO 45001, occupational health and safety

“Our Tennessee team is very proud to have achieved these ISO certifications,” said Glen Casey, Chief Operating Officer at Tritium. “Earning these certifications is a reflection of the high standards we set when it comes to the quality of our products and processes, the safety of our employees, and our environmental impact. We’re continuously impressed by the caliber of this team, and eager to see what they will bring to the Tritium business in 2023.”

Tritium CEO Jane Hunter first announced the opening of the Tennessee facility alongside President Joe Biden at a White House event in February 2022. At peak capacity, the facility is expected to be capable of producing up to 30,000 units annually.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

Forward Looking Statements

This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

No Offer

This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.

Media Contact
Jack Ulrich
[email protected]

Investor Contact
Cary Segall
[email protected]

• OK a.m.b.a (OK) are preparing to roll out hundreds of Tritium DC fast chargers throughout Denmark.
• Building on several successful installations since summer 2022, Tritium will supply OK, Denmark’s largest fuel retailer, with over 300 fast chargers for use at fuel stations, on highways, in urban areas and retail sites, and with OK’s corporate fleet and fleet customers.
• OK’s plans support objectives to reduce greenhouse gas emissions and put charging infrastructure in place to help meet the Danish government’s goal of at least 775,000 electric or plug-in hybrid vehicles on the roads by 2030. 

AMSTERDAM, Netherlands, 14 February 2023 – Global electric vehicle (EV) fast charger manufacturer, Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), today announced that OK a.m.b.a. (OK), Denmark’s largest fuel retailer, has purchased more than 300 fast chargers for use at fuel stations, on highways, in urban areas and retail sites, and with OK’s corporate fleet and fleet customers.

OK currently operates more than 670 fuel stations in Denmark. Many of these fuel stations are co-located with Coop retail outlets, Denmark’s’ leading consumer goods retailer, and the new charging stations will provide Danish drivers with access to fast and convenient charging infrastructure.

This deployment of Tritium fast chargers is part of OK’s wider plan to support the expansion of Denmark’s public charging infrastructure in both large and small Danish cities, providing the fast charging infrastructure needed to support the Danish Government’s goal of at least 775,000 electric or plug-in hybrid cars on the country’s road network by 2030, in a bid to reduce greenhouse gas emissions by 70%.

“In 2022, nearly 40% of cars sold in Denmark were electric or plug-in hybrids, providing evidence of the Danish technology transition and solidifying Denmark’s position as a global leader in the transition to sustainable transportation,” said Jane Hunter, Tritium CEO. “A growing network of public fast chargers will add further momentum to Denmark’s EV uptake, and we’re pleased to support OK’s e-mobility goals. Our partnership with OK will increase drivers’ access to fast chargers in Demark, enabling a more rapid transition to EVs with all of the environmental benefits they bring.”

OK has already received a portion of this purchase order and successfully launched the first of its Tritium 75kW modular chargers at the Super Brugsen store in Hillerød and the Kvickly store in Odder, Denmark. As chargers are installed at Coop stores across Denmark, customers will be able to pay for their charging session using OK’s award-winning app, providing a seamless and convenient customer experience.

“OK is focused on providing a seamless and authentic customer experience and we are thrilled to be partnering with a leading fast charger manufacturer such as Tritium, giving us the prospect of accelerating our plans of expanding our DC network. OK’s first Tritium sites in Odder and Hillerød have been a success, and OK are looking forward to setting up new sites across Denmark,” said Thor Folmann Krarup, E-mobility Manager, OK a.m.b.a.

Denmark is making positive strides towards phasing out internal combustion engine vehicles. With records broken for the sale of battery electric vehicles (BEV) in 2022, the Danish Car Importers Association (DBI) recently reported that sales of new electric vehicles increased by 23.8% from 2021 and accounted for 38.6% of new vehicles sold in 2022. In mid-October, Denmark reached the significant milestone of 100,000 BEVs registered to drive on Danish roads, a ten-fold increase from three years ago.

In 2022, the number of publicly accessible fast chargers in Denmark tripled to 784, and Tritium is proud to contribute to this rapid growth in charging infrastructure. As this trend continues, Tritium and OK will work collaboratively to provide a fast, reliable, and safe charging network to serve all Danish drivers.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

About OK a.m.b.a.

OK a.m.b.a. is a Danish cooperative. In addition to the parent company OK, OK also counts subsidiaries such as Kamstrup, EnergiData and OK Plus. OK includes more than 670 gas stations, more than 200 car washes and 80 Truck Diesel stations, and OK is thus Denmark’s largest filling station chain. OK is a nationwide supplier of gasoline, diesel, e-mobility, transport diesel, heating oil, lubricants, natural gas and electricity for both business and private individuals. In addition, OK provides consulting, design and installation of heat pump solutions of all sizes. OK has three biogas stations and also provides refueling points for four of Everfuel’s hydrogen refueling plants.

More information on OK can be found at www.ok.dk/om-ok

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions, or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

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Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investors Contact
Cary Segall
[email protected]

OK a.m.b.a. Media Contact
Steffen Toft Spiele
[email protected]

SCHENECTADY, N.Y., January 26, 2023—Lynkwell, a charge point operator and charging solutions provider for the electric vehicle (EV) industry, today announced the purchase of more than 50 fast chargers from Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles. The chargers are expected to be installed primarily in retail settings as part of Lynkwell’s growing charging network.

“US drivers want access to reliable and convenient fast charging, and Lynkwell’s new US charging network featuring Tritium chargers can start to deliver that,” said Tritium CEO Jane Hunter. “These Tritium chargers will offer American EV drivers more fast charging options and help the US transition to sustainable electric transportation.”

Lynkwell has placed purchase orders for a variety of Tritium’s fast charging equipment, including Tritium’s award-winning 75kW modular charger and highly scalable 150kW modular fast charger. Lynkwell’s newly acquired Tritium chargers are already being assigned to key projects nationwide, adding to the hundreds of Tritium chargers currently on Lynkwell’s network.

“Lynkwell strives to create a seamless charging experience, making Tritium a natural choice as a partner,” said Lynkwell President Jason Zarillo. “Tritium’s industry-leading fast charging technology combined with our robust charging solutions creates an easy experience for charging station operators. Partnerships like this are critical to delivering the reliable EV charging infrastructure that America needs.”

Lynkwell operates a nationwide EV charging network and provides simple EV charging and renewable energy solutions for other EV charging network operators. The company offers turnkey resources ranging from permitting and site design to installation and management.

About Lynkwell

Lynkwell is an innovative energy technology company with a mission to transform how the world connects clean, renewable, and sustainable energy solutions with the evolving electric infrastructure. The company provides comprehensive and coordinated products and services for design, planning, funding, financing, installation, and management of electric vehicle (EV) charging stations and provides a white label offering allowing businesses to create custom-branded EV charging experiences. Since 2016, Lynkwell has facilitated the deployment of thousands of charging stations for public, private, and fleet applications, collaborated on the development and integration of hundreds of equipment and software solutions, and has secured tens of millions of dollars of incentives, grants, and funding awards for its customers. Partners can access one of the largest and most robust catalogs of hardware solutions and software functionality for EV charging infrastructure via the Lynkwell platform. Learn about the next generation of EV charging networks with Lynkwell at https://www.lynkwell.com/.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

Forward Looking Statements

This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

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Lynkwell Contact
Tom Mittler
[email protected]   

Tritium Media Contact
Jack Ulrich
[email protected]     

Tritium Investor Contact
Cary Segall
[email protected]

• Tritium, a global leader in direct current (DC) fast chargers for electric vehicles (EVs), has executed an agreement with evyve, an EV charging network in the UK, to become the network’s preferred fast charger technology provider.
• evyve has informed Tritium that it plans to install 10,000 EV charging stations by 2030, with the goal of becoming the country’s largest charger network.
• evyve placed initial purchase orders for 350 Tritium fast chargers as part of the charging network’s plans to invest £25 million in Tritium fast and ultra-fast charging stations over the next two years.

                                                    
AMSTERDAM, Netherlands, 23 January 2023 –Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global EV fast charger manufacturer, and evyve, a UK charging network, have entered into an agreement to make Tritium the network’s preferred fast charger provider. The agreement includes initial total orders for 350 Tritium fast chargers and evyve has received first deliveries of these chargers, 60 of which are now installed and operational. evyve currently projects to install thousands more chargers by the end of 2025 and 10,000 chargers by 2030. The evyve charging network is planned to consist of Tritium’s innovative modular chargers, including the company’s award-winning 75kW charger and highly scalable 150kW fast charger.

“With the number of registered battery-electric cars in the UK growing by more than 40% in 2022, it’s more important than ever that drivers have access to fast and reliable charging technology to ensure a convenient driver experience and a seamless transition to e-mobility,” said Tritium CEO Jane Hunter. “We’re proud to be the preferred fast charger provider for the evyve charging network, and we look forward to helping them accomplish their goal to become the largest destination and enroute charging network in the UK. For Tritium, this announcement is a reflection of an increasing number of conversations with customers looking to address anticipated multi-year demand and secure product availability beyond just the next 12 months.”

evyve has stated that it intends to become the largest destination and enroute charging network in the UK and the company has ambitious growth plans to own and operate 10,000 charging stations by 2030. evyve continues to build a customer network consisting of retail parks owned by regeneration business Peel L&P and leading hospitality providers like Greene King, the UK’s leading pub retailer and brewer operating over 2,700 pubs, restaurants, and hotels across England, Wales, and Scotland.

James Moat, CEO of evyve, said: “evyve is focused on providing a seamless and reliable customer experience and we are thrilled to be partnering with a leading fast charger manufacturer like Tritium, giving us the confidence to accelerate our plans to become one of UK’s leading charge point service providers.

“Due to its compact design and modularity, Tritium’s innovative fast charger technology has enabled us to roll out our network across multiple locations quickly and efficiently, providing us with the foundation to support the UK’s transition to electric vehicles today and 20 years from now.”

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

About evyve – Charging Ahead

Established by EVY Infrastructure Partners and Peel NRE, part of regeneration business Peel L&P, which is at the heart of the nation’s activity around clean growth and a circular economy. evyve is developing a new nationwide network of high quality fast and ultra-fast electric vehicle (EV) charge points powered by 100% renewable energy, providing important infrastructure to support the growing number of electric vehicles on UK roads.

With plans for around 10,000 chargers by 2030, evyve is set to become one of the largest EV charging networks in the UK with facilities across key retail, food and drink, leisure and commercial business locations throughout England, Scotland and Wales.

For more information and partnership opportunities, visit www.evyve.co.uk

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions, or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the US Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

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Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investors Contact
Cary Segall
[email protected]

evyve Media Contact
Katy Davison
[email protected]

Financial information at and for the period ended December 31, 2022 presented herein is preliminary. Complete financial results for the period will be published by the Company on Form 6-K within the standard timeframes prescribed by applicable SEC and exchange rules.

Highlights

• Secured the largest order from a single customer in Company history with a new order from bp (NYSE: BP) for deployment across the United States, United Kingdom, Europe, and Australia.
• Achieved the largest monthly production output in Company history in December 2022, with 50% more output than any previous month.

Calendar Year 2022 – Preliminary Results

• Received record sales orders valued at $195 million in calendar year 2022, growth of 38% over the previous calendar year’s result of $141 million.
• Achieved record revenue in the range of $95 million to $102 million in calendar year 2022, of which approximately $72 million was achieved in the six months ended December 31, 2022, a 157% increase over the results of the previous six-month period ended June 30, 2022.
• Projects cash and cash equivalents of approximately $70 million at December 31, 2022.
• Opens the 2023 calendar year with a record order backlog of approximately $159 million at December 31, 2022.

Calendar Year 2023 – Guidance

• Expected revenue in excess of $200 million, corresponding to annual growth of over 100%, with approximately 35% forecasted for the first half of calendar year 2023 and the balance in the second half of calendar year 2023.
• Expected gross margin of 10% to 12% in calendar year 2023 as the Company benefits from its manufacturing scale-up, improved product pricing, and planned product suite streamlining.

BRISBANE, Australia, January 17, 2023 – Tritium DCFC Limited (“Tritium” or the “Company”) (Nasdaq: DCFC), a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”), today provided an update on the business.

bp Order and Market Demand

Global demand for Tritium products continues to grow, as evidenced by the latest order from bp (NYSE: BP), the Company’s largest order from a single customer in its history. This is bp’s second major order from the Company, following an initial order announced alongside the bp multi-year global framework contract in April 2022.  

The size of these orders is an indicator of ongoing growth in demand for DC fast chargers, in-line with global EV uptake alongside the accelerating deployment of EV chargers by many segments including petroleum, convenience, retail, electricity, and fleet companies.

Tritium anticipates further acceleration of market demand for its high-quality and reliable DC fast chargers, which have the benefit of almost ten years of continuous operation in the field through Tritium’s large global installed fleet of DC fast and ultra-fast chargers. Tritium, an EV fast charging pioneer with a reputation as a global technology leader, estimates its position as the number two market share in the universal DC fast charger category, excluding China.

The Company expects the volume of sales to continue to grow, as customers move past pilot programs into accelerated rollouts of large, global EV charging networks. With its Tennessee factory already delivering chargers, Tritium is well-positioned to benefit from expected increases in demand for Buy America-compliant EV fast chargers from later in 2023 through 2028, driven by funding from the National Electric Vehicle Infrastructure (“NEVI”) Formula Program and the Inflation Reduction Act.

Tennessee Factory and Production Update

Tritium began its lease of a factory in Tennessee in March 2022, fit out the facility over five months with the first of six planned production lines operational in July, and held a grand opening in August. During the 2022 calendar year, the Company made meaningful upfront investments in raw materials, equipment, and the recruitment of more than 200 employees for the Tennessee facility. Tennessee will continue to scale over the course of 2023, producing the Company’s chargers at a rate of efficiency previously not achievable.

In December 2022, Tritium produced record units at both its Brisbane and Tennessee facilities, with each location contributing to the achievement of the single largest monthly output in Company history with more than 600 and 400 units, respectively. These milestones were reached by executing the Company’s plan to accelerate production rates to meet customer demand and shorten order fulfillment time to drive improved working capital efficiency and advance Tritium’s continued market leadership.

Currently, the Tennessee factory is operating two production lines with plans to add three additional lines in 2023. While demand for Tritium’s products supports an even faster factory ramp-up with additional lines and more shifts, the Company continues to balance its growth within the guardrails of working capital availability and labor recruitment in the local Tennessee market.

The Company expects to hit several global production milestones in 2023 as the Tennessee factory continues to ramp-up and production at the Brisbane factory shifts to Tritium’s new class of modular chargers. While the Tennessee factory focuses on modular charger production, Tritium remains on plan to cease production of its four legacy products at its Brisbane factory in 2023 to focus production efforts at that location solely on the Company’s in-demand, modular chargers going forward. This optimization will further drive efficiency gains across purchasing, supply chain, warehousing, production, testing, quality control, and distribution, enabling improved margins.

The production ramp-up in 2023 is expected to produce a total projected output of at least 11,000 units for the calendar year 2023. Calendar year 2024 is expected to benefit from the full year impact of 2023 initiatives: a production run rate at scale, the transition to the planned streamlined modular product suite, new products to be launched in 2023, continued improved pricing, and operational efficiencies across supply chains, logistics, and services.

Calendar Year 2023 Guidance

Tritium’s 2023 forecasts are supported by the Company’s current purchase order backlog of approximately 80% of forecast revenue for calendar year 2023, planned production line expansion at the Tennessee plant, and charging infrastructure deployment plans shared by Tritium’s blue-chip customer base. For calendar year 2023, the Company expects:

• In excess of $200 million in revenue, an increase of over 100% over unaudited preliminary calendar year 2022 revenue.
• Gross margins to improve throughout calendar year 2023, averaging between 10% and 12% over the full calendar year.
• Operational expenses, including R&D, of $90 million to $95 million, a 13% to 19% increase from unaudited preliminary 2022 calendar year operational expenses.

Tritium believes it is well-positioned to meet its 2023 forecasts despite macro-economic factors affecting the global economy, given its customer base includes well-capitalized Fortune 100 companies, fully-funded growth companies, and companies that are already accessing committed government funding. Tritium’s guidance for revenue and margin increases is enabled by planned production scale-up, production efficiencies gained through a streamlined product suite with significant parts and architecture commonality, the ability to truck chargers across the US, rather than transport them by sea or air, and pricing improvements driven by supply limitations, NEVI funding, and high inflation. The Company ordered long-lead time parts throughout the 2022 calendar year for planned 2023 manufacturing to mitigate the globally disrupted electronics supply chain.

“Tritium remains focused on maintaining and growing our enviable global fast charger market share through designing, selling, building, and servicing world-class chargers,” said Tritium CEO Jane Hunter. “2022 was a foundational year, putting many of the building blocks in place to deliver our long-term competitive strategy, while still achieving record revenue and sales. With the listing of the Company on the Nasdaq, opening the Tennessee factory, securing the world’s best customers, and rounding out our talented management team, Tritium is better positioned than ever to capitalize on the opportunities ahead.”

2022 Business Update

• The Company projects record sales orders valued at $195 million for calendar year 2022, representing a 38% increase over the $141 million of sales orders received in calendar year 2021. Based on discussions with new and existing customers, Tritium expects to have 2023 production fully allocated through committed sales orders in early 2023.
• Tritium currently expects to achieve record revenue in the range of $95 to $102 million for calendar year 2022, representing a 23% to 32% increase over revenue for calendar year 2021. Revenue for the six months ended December 31, 2022 is expected to be $72 million, an increase of 157% over the six months ended June 30, 2022.
• The Company anticipates a record year-end sales order backlog of approximately $159 million, which supports the Company’s calendar year 2023 revenue guidance.
• Cash and cash equivalents at the end of calendar year 2022 are projected to be $70 million.

Tritium enters 2023 as the only top three global fast charger manufacturer with a US factory able to take advantage of Buy America requirements. The Company’s product suite continues to sit at the forefront of the industry, with the only fully liquid-cooled, fully-sealed, and IP65-rated charger on the market, affording the Company an industry-leading total addressable market and delivering to its customers a lower total cost of ownership over the competition.

St Baker Capital Raise

Tritium also received a primary capital investment of $30 million in December 2022. This capital is made possible through a new, stand-alone $20 million working capital facility and an additional $10 million accordion, which expands the previously announced senior debt facility from $150 million to $160 million. The Company also confirms that it has not sold any securities under its previously announced $75 million B. Riley committed equity facility, and its current share count stood at 155,488,856 common shares as of December 31, 2022.

The $20 million working capital facility has been provided by Sunset Power Pty Ltd (“Sunset Power”), a trustee of the St Baker Family Trust. The $10 million accordion facility is also provided by Sunset Power and expands the previously announced debt facility agreement with long-term supporters Cigna Investments, Inc. (“Cigna”), the investment arm of Cigna Corporation, a U.S.-based global health services company, Barings LLC (“Barings”), a global investment manager, and Riverstone Energy Limited (“Riverstone”).

The capital is to be used to grow the business through increased manufacturing capacity, securing long lead-time parts, and bolstering the Company’s cash balance. These capital raises demonstrate the long-term support for Tritium by both its largest shareholder, Trevor St Baker AO, and the Company’s senior lenders.

In addition to providing capital, during the fourth quarter of 2022 the St Baker Family Trust notified Tritium that it had acquired an additional 3% of Tritium shares through market purchases, representing the maximum additional shareholder accumulation permitted under Regulatory Guide 6 of the Australian Securities and Exchange Commission (“ASIC”) addressing creeping acquisitions within takeover law, which limits additional accumulations in a six-month period by any shareholder with holdings in excess of 20% of the Company’s common shares. The St Baker Family Trust and its affiliates now own and control 24.8% of the common shares of the Company as of December 31, 2022.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

Presentation of Information

Unless otherwise indicated, all references herein to “year” or to a specific year (e.g., 2022, 2023, 2024, etc.) are to the calendar year. Any references herein to the Company’s fiscal year ending June 30 are described as “fiscal year” or “FY.”

Forward Looking Statements

This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results, including, but not limited to: our history of losses; the ability to successfully manage our growth; the adoption and demand for electronic vehicles including the success of alternative fuels, changes to rebates, tax credits, and the impact of government incentives; the accuracy of our forecasts and projections including those regarding our market opportunity; competition; our ability to secure financing; delays in our manufacturing plans; losses or disruptions in supply or manufacturing partners; risks related to our technology, intellectual property and infrastructure; exemptions to certain U.S. securities laws as a result of our status as a foreign private issuer; and other important risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

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Media Contact
Jack Ulrich
[email protected]

Investor Contact
Cary Segall
[email protected]