ChargePoint Extends Leadership in NEVI Funded EV Fast Charging Awards

ChargePoint (NYSE:CHPT), a leading provider of networked charging solutions for electric vehicles (EVs), today announced continued leadership in enabling DC fast charging at National Electric Vehicle Infrastructure (NEVI) program funded locations. Two newly opened ChargePoint sites along Interstate 95 in Rhode Island make it the first state in the nation to complete Phase 1 of the NEVI program.

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ChargePoint and its partners continue to lead the industry in enabling NEVI-funded fast-charging sites along major highways across the United States. (Photo: Business Wire)

NEVI is the Infrastructure Investment and Jobs Act's (IIJA) $5 billion electric vehicle infrastructure bill, designed to make ultra-fast charging accessible and reliable across U.S. highways. ChargePoint continues to be an EV charging industry leader in receipt of NEVI awards, with 40% of U.S. states announcing their awards to date. The Company and its partners have been selected for awards at more than 125 sites. These sites total $75 million in proposed grant funding and represent nearly 600 fast charging ports across 20 U.S. states that have announced NEVI awards to date.

"ChargePoint and its partners continue to lead the industry by enabling the most NEVI-funded fast charging locations along major U.S. highways," said Anne Smart, Vice President, Public Policy at ChargePoint. "Together with our partners, we are enabling accessible, reliable fast charging solutions across the U.S., ensuring all EV drivers can access charging when and where they need it."

"The completion of NEVI Phase 1 marks a milestone moment in Rhode Island's commitment to a greener and more sustainable future," said Governor Dan McKee. "By creating the infrastructure for cleaner transportation alternatives, we're not only working towards our Act on Climate goals but leading the charge to decrease our carbon footprint. I'm grateful to the private and public partners who came together on this project that demonstrates our state's continued commitment to enhancing our state's EV charging infrastructure and the green economy."

All of the NEVI sites awarded to ChargePoint customers or partners feature ChargePoint Express Plus charging stations, a modular DC fast charging platform capable of delivering charge speeds up to 500kWh. Express Plus configurations include cable options for the most prevalent CCS connector, and the NACS connector more commonly associated with Tesla vehicles. Express Plus combines with ChargePoint's innovative software to charge every make and model of electric vehicle available today. The charging platform can simultaneously ultra-fast charge two vehicles from the same charging station, and uses a proprietary technology to sustain peak charging speeds, enabling an EV driver to charge and go without unanticipated delays.

Forward Looking Statement

This release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, the total number and value of NEVI grants awarded to ChargePoint and its partners. Forward-looking statements include statements regarding ChargePoint's expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "should," "proposed," "will" and "would" or similar words. These forward-looking statements involve risks, uncertainties, and assumptions, including risks associated with program implementation that may be associated with construction, permitting, site development, and electrical installation delays, the ongoing availability or potential expiration of the IIJA due to regulatory or legislative policy, or ongoing program participation by ChargePoint partners and charging sites. Additional risks and uncertainties are included in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in ChargePoint's Form 10-Q filed with the Securities and Exchange Commission ("SEC") on June 6, 2024, which is available on ChargePoint's website at investors.chargepoint.com and on the SEC's website at www.sec.gov. Forward-looking statements are not guarantees of future performance and actual results could differ materially from those expressed or implied by the statements made herein. All forward-looking statements in this press release are based on information available as of the date hereof and ChargePoint assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law.

About ChargePoint Holdings, Inc.

ChargePoint has been an innovator of all things EV charging since 2007, before the first mass market electric vehicle was on the road. ChargePoint offers solutions for the entire EV ecosystem including drivers, charging station owners, vehicle manufacturers and others. Accessible and reliable, ChargePoint's portfolio of software, hardware, and services enables a seamless experience for drivers across North America and Europe. With ChargePoint, every driver who needs to charge can do so, accessing more than 1 million places to charge globally. ChargePoint has powered more than 10 billion electric miles and will continue to innovate as part of a mission to lower global emissions while improving the future of transportation. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.

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