What changed in this filing

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Item 1. Business

2025-04-11 compared with 2024-04-16 · 581 added, 266 removed, 331 unchanged (72% of the section changed)

Beam is a clean-technology

innovation company headquartered in San Diego, California with factories in San Diego, Chicago and Kraljevo, Serbia in Europe.

manufacture, and sell high-quality, renewably energized products for electric vehicle charging infrastructure, energy storage, energy

security, disaster preparedness, street lighting, telecommunications, and energy infrastructure.

Our Electric Vehicle (EV) charging infrastructure

innovation company headquartered in San Diego, California with factories in the U.S.

in San Diego, California and Broadview, Illinois

and in Europe in Belgrade and Kraljevo, Serbia.

We develop, design, engineer, manufacture, and sell high-quality, renewably energized

infrastructure products for electric vehicle (“EV”) charging, infrastructure for Smart Cities (a city that uses technology

to improve the quality of life for its residents), energy security and disaster preparedness and highly energy-dense battery solutions

in safe, compact and unique form-factors.

Additionally, we manufacture steel structures with electronic integration such as street lighting,

cell towers and energy infrastructure products as well as power electronics including invertors, charge controllers, power supplies and

LED lighting.

Beam’s energy storage products provide high energy density in safe, compact and bespoke form-factors, which we believe

are ideal for the rapidly growing mobile and stationary equipment product market which often requires electrical energy without being

connected to the electrical grid.

Our EV charging infrastructure

products are powered by locally generated renewable energy and enable vital and highly valuable services in locations where it is either

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through our integrated emergency power panels.

We also provide energy storage technologies that make commodity battery cells safer, longer

lasting and more energy efficient.

Our battery management systems (BMS), and associated packaging, make batteries safer and usable in

a variety of mobility, energy-security, and stationary applications.

Our street lighting and other street furniture products are mass

produced and sold in 17 nations globally.

Our charging products are

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a complicated, expensive, time-consuming and risk prone process with an easy, robust and reliable product at a low cost of total ownership.

We provide energy storage

technologies that make commodity battery cells that we believe are safer, longer lasting and more energy efficient.

Our battery management

systems (BMS), and associated packaging, make batteries safer and usable in a variety of mobility, energy-security, and stationary applications.

Our street lighting and other

street furniture products are mass produced and sold in 18 nations globally .

We are increasingly

adding power electronics, energy storage, computing, sensing and reporting to our street furniture products as we evolve them to provided

greater levels of Smart Cities services.

Beam’s renewable energy

infrastructure products and proprietary technology solutions target four markets that are experiencing significant growth with annual

global spending in the billions of dollars.

electric vehicle charging infrastructure;

infrastructure products and proprietary technology solutions target markets that are experiencing significant growth with annual global

spending in billions of dollars.

· EV charging infrastructure;

· Smart Cities infrastructure;

· energy storage solutions;

· energy security and disaster preparedness;

outdoor media advertising.

The Company focuses

on creating high-quality renewable energy products that are rapidly deployable, have diverse use cases and are attractively designed.

We believe that there is a clear need for rapidly deployable and highly scalable EV charging infrastructure, and that our EV ARC™

and Solar Tree™ products fulfill that requirement.

We are agnostic as to the EV charging service equipment as we do not sell EV

charging, rather we sell products which enable it.

Our EV ARC™ and Solar Tree™ products replace the infrastructure required

to support EV chargers, not the chargers themselves.

Our ability to make commodity battery cells safer, longer lived and more energy efficient

in bespoke enclosures is, we believe, a significant differentiator as we move to an increasingly electrified and untethered world.

· transportation infrastructure products;

· Power electronics and telecommunications

The Company focuses on creating

high-quality products that are powered primarily by renewable energy, rapidly deployable, have diverse use cases and are attractively

We believe that there is a clear need for rapidly deployable and highly scalable EV charging and infrastructure for Smart Cities,

and that our EV ARC™, BeamSpot™ and other street furniture products fulfill that requirement.

We are agnostic to the EV charging

service equipment as we do not sell EV charging, rather we sell products which enable it.

Our EV ARC™ and BeamSpot™ products

replace the infrastructure required to support EV chargers, not the chargers themselves.

We have over thirty years

of experience deploying street-lighting, transportation, energy and telecommunications infrastructure products as a result of our 2023

acquisition of Amiga in Serbia.

We have relationships with existing customers to whom we are now able to sell our renewably energized

EV charging infrastructure products as well as our Smart Cities products.

During the second-half of

2024 we significantly expanded our product portfolio with the addition of rapidly deployed and highly scalable charging infrastructure

products for electric bicycles, electric scooters, and electric motorcycles.

We also introduced de-salination as a capability to enhance

the lifesaving aspects of our disaster preparedness products.

converts seawater into vital freshwater.

It is equipped with four eMopeds for efficient and rapid transport in environments such as disaster

or crisis zones, where people need it most.

Our ability to make commodity

battery cells safer, longer lived and more energy efficient in bespoke enclosures is, we believe, a significant differentiator as we move

to an increasingly electrified and untethered world.

All of our renewably energized products generate their own electricity and store

it in integrated batteries.

Our ability to create batteries which are energy dense and very safe in unique shapes and sizes, enables us

to expand our reach through selling to customers which require specialized batteries such as drone manufacturers, robotic and medical

devices, submersibles, refrigerated trucking units, and many other applications.

We are also able to enhance our patented products which

provide electric vehicle charging, energy security disaster preparedness through the creation of bespoke energy-dense and safe battery

products which are unique to our in-house portfolio.

We believe our chief differentiators

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Our ability to add electrical capacity to provide for the significant increase demand brought by EVs, without having to go through expensive, time-consuming and risky utility grid expansion (adding power stations, transmission lines and distribution infrastructure like substations);

our ability to create new and patentable

products which are marketable and consist of a complex integration of our proprietary technology and parts with other commonly available

engineered components, which create a further barrier to entry for our competition;

our extensive geographic footprint in North America and Europe, and

existing customer base and contracts.

Our ability to create new and patentable products which are marketable and consist of a complex integration of our proprietary technology and parts with other commonly available engineered components, which create a further barrier to entry for our competition;

Our ability to create products which provide valuable solutions

to nascent industries with very large market opportunities globally;

· Our geographic footprint in North America and Europe, and existing customer base and contracts.

Products and Technologies

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We believe that the U.S.

and global utility grids lack sufficient capacity to supply enough electricity to all the new EVs, AI, data centers,

electrified industry and other electrical devices which are becoming increasingly available to consumers and business, especially considering

the number of national and state governments that have announced future bans on the sale of gasoline and diesel vehicles, as early as

2025 in Norway, and 2035 in Europe, with most bans being put in place no later than 2040.

Even locations with a grid connection often

lack circuits which have enough capacity to support EV charging in any meaningful way.

For example, parking lots might have enough electrical

capacity to power lighting but not enough to power EV charging.

Beam products provide that power without a requirement to increase the

electrical grid capacity at a site which can often be, and we believe will increasingly be, expensive, disruptive, complex and time consuming.

We believe that there

will be an increasing demand and need for rapidly deployed and highly scalable EV charging infrastructure products which do not require

construction or electrical work, and which do not rely on the utility grid for a supply of electricity.

We are not aware of any other

products which provide a similar solution for this need as effectively as our patented products which are listed below:

EV ARC™ (Electric Vehicle Autonomous

Renewable Charger) – Our most popular product- We believe this patented product is the world’s first and only transportable,

solar powered EV charging infrastructure product on the market that fits in a parking space but does not reduce available parking.

EV ARC™ generates and stores all its own energy through its solar array so there are no utility bills to pay.

EV ARC™ features

our patented BeamTrak TM sun tracking technology that follows the sun to generate up to an additional 25% of solar electrical

It does not need a grid connection which eliminates the need for lengthy construction projects, trenching, switch gear, or transformer

and global utility grids lack sufficient capacity to supply enough electricity to all EVs, data centers, electrified

industry and other electrical devices which are becoming increasingly available to consumers and business, especially considering the

number of national and state governments that have announced future bans on the sale of gasoline and diesel vehicles, as early as 2035

in Europe, with most bans being put in place no later than 2040.

Even locations with a grid connection often lack circuits which have

enough capacity to support EV charging in any meaningful way.

For example, parking lots might have enough electrical capacity to power

lighting but not enough to power EV charging.

Beam products provide that power without a requirement to increase the electrical grid capacity

at a site which can often be, and we believe will increasingly be, expensive, disruptive, complex and time consuming.

We believe that there will

be an increasing demand and need for rapidly deployed and highly scalable EV charging infrastructure products which do not require construction

or electrical work, and which do not rely on the utility grid for a supply of electricity.

We are not aware of any other products which

provide a similar solution for this need as effectively as our patented products which are listed below:

· EV ARC™ (Electric Vehicle Autonomous Renewable Charger)

– Our most popular product- We believe this patented product is the world’s first and only transportable, solar powered

EV charging infrastructure product on the market that fits in a parking space but does not reduce available parking.

generates and stores all its own energy through its solar array so there are no utility bills to pay.

EV ARC™ features our patented

BeamTrak TM sun tracking technology that follows the sun to generate up to an additional 25% of solar electrical power.

does not need a grid connection which eliminates the need for lengthy construction projects, trenching, switch gear, or transformer upgrades.

The EV ARC TM can be delivered to its intended location and is set up and charging in less than an hour.

Because there

is no foundation, trench or electrical infrastructure, the EV ARC™ typically does not require a building or any other kind of permit,

Because there is no

foundation, trench or electrical infrastructure, the EV ARC™ typically does not require a building or any other kind of permit,

and it is easily transportable if a different location is desired.

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EV ARC™ systems are independently rated to withstand winds up to 160mph.

Because the EV ARC™ systems are solar powered,

they are not disrupted during grid interruptions such as black-outs or brown-outs which is becoming increasingly important as more transportation

relies on electricity for fuel.

Current grid-tied EV chargers are often placed in locations where a suitable circuit is most easily accessed

and cheapest to install, rather than in the most convenient and desirable locations for EV drivers.

EV ARC™ systems do not need

to be connected to the grid and as such, can be placed anywhere, making them a rapidly deployable and highly scalable solution for EV

charging infrastructure.

Because the EV ARC™ systems are solar powered, they are not disrupted during grid interruptions such as black-outs or brown-outs which is becoming increasingly important as more transportation relies on electricity for fuel.

Current grid-tied EV chargers are often placed in locations where a suitable circuit is most easily accessed and cheapest to install, rather than in the most convenient and desirable locations for EV drivers.

EV ARC™ systems do not need to be connected to the grid and as such, can be placed anywhere, making them a rapidly deployable and highly scalable solution for EV charging infrastructure.

We received a patent in 2024 for a version of

the EV ARC™ which, when fully developed, will be able to provide wireless charging to suitably equipped EVs.

Because EV ARC™ systems are highly visible,

we believe that they are an ideal platform for sponsored deployments wherein networks of EV ARC™ systems are deployed and owned

by us and monetized through sponsorship and naming-rights agreements with corporate sponsors who are eager to have their brands associated

with renewable, clean-energy by sponsoring a city-wide sponsorship of free EV charging through what we refer to as our Drive on Sunshine™

We intend to deploy our Drive on Sunshine™ network in highly populated areas where we will deliver free EV charging while

monetizing the network of EV ARC™ systems through corporate sponsorship programs.

Our products also create significant reductions

in greenhouse gas and CO2 emissions which, we believe, is a further inducement to encourage corporations to sponsor our network as they

may benefit from the carbon offsets generated by a network of EV ARC™ systems.

SolarTree® Products –

These patented products are used for larger scale solar powered EV charging applications.

We believe our Solar Tree® product to be

the only single column, sun tracking, solar support structure with integrated energy storage, EV charging and media platforms available

The design of our Solar Tree® systems is ideal for charging electric buses, electric heavy-duty vehicles, electric agricultural

equipment, public transportation, and electric vehicles used in the construction industry.

In 2020, we launched our new generation of

Solar Tree® DCFC products with on-board battery storage that do not require a utility grid connection (though grid connection capability

is available).

As a result, these products can be rapidly deployed and enable EV charging in remote locations where it would otherwise

be impossible or economically infeasible, such as rest areas, park and ride locations, construction sites, or any location with insufficient

grid connectivity.

The costs and environmental impact associated with delivering a 50kW or greater circuit to a remote rest area may be

prohibitive, whereas a Solar Tree® DCFC can be deployed with minimal site disturbance.

Because EV ARC™ systems are highly

visible, we believe that they are an ideal platform for sponsored deployments wherein networks of EV ARC™ systems are deployed and

owned by us and monetized through sponsorship and naming-rights agreements with corporate sponsors who are eager to have their brands

associated with renewable, clean-energy by sponsoring a city-wide sponsorship of free EV charging through what we refer to as our Drive

on Sunshine™ network.

We intend to deploy our Drive on Sunshine™ network in highly populated areas where we will deliver free

EV charging while monetizing the network of EV ARC™ systems through corporate sponsorship programs.

Our products also create significant

reductions in greenhouse gas and CO2 emissions which, we believe, is a further inducement to encourage corporations to sponsor our network

as they may benefit from the carbon offsets generated by a network of EV ARC™ systems.

In 2024 we deployed our first sponsorship

funded network of EV ARC™ systems at Belgrade International Airport in Serbia.

Beam Global retains title to the EV ARC™ and

receives recurring payments from Globos Osiguranje, Serbia’s only domestic private insurance company.

Globos Osiguranje benefits

from the promotion of their business as a result of their branding being prominently displayed on the EV ARC™ systems which are

deployed in parking spaces in parking lots nearest to the airport terminal buildings.

The Globos Osiguranje branded EV ARC™ systems

are placed in locations that are visible as you arrive and depart from the airport.

We also entered into an agreement with Vinci Airports,

the world’s leading private airport operator with over 70 airports under management internationally, which does not require us to

pay rent because of the amenity value that is delivered to the airport through the provision of a free driving on sunshine experience

for their visitors and guests.

We believe that we may be able to repeat this model in other Vinci airports around the world.

We also believe

that now that we have successfully proved that this business model works, we can further expand it into different types of environments

where there are sufficient densities of people to make the advertising worthwhile.

SolarTree® Products – These patented products are used for larger scale solar powered EV charging applications.

We believe our Solar Tree® product to be the only single column, sun tracking, solar support structure with integrated energy storage, EV charging and media platforms available today.

The design of our Solar Tree® systems is ideal for charging electric buses, electric heavy-duty vehicles, electric agricultural equipment, public transportation, and electric vehicles used in the construction industry.

In 2020, we launched our new generation of Solar Tree® DCFC products with on-board battery storage that do not require a utility grid connection (though grid connection capability is available).

As a result, these products can be rapidly deployed and enable EV charging in remote locations where it would otherwise be impossible or economically infeasible, such as rest areas, park and ride locations, construction sites, or any location with insufficient grid connectivity.

The costs and environmental impact associated with delivering a 50kW or greater circuit to a remote rest area may be prohibitive, whereas a Solar Tree® DCFC can be deployed with minimal site disturbance.

We believe our Solar Tree® products with on-board battery storage can provide a highly reliable source of energy to provide emergency power to first responders during times of emergency or other grid failures.

We also believe that our Solar Tree® products which may be optimized for branding can create a visually appealing platform for the delivery of a sponsor’s brand with a less onerous planning and entitlement process than that experienced with traditional signage.

The National Electric Vehicle Infrastructure program

(NEVI) requires states to provide at least 600kW of DC fast charging on every 50 miles on US highways.

We do not believe that the utility

grid can provide this level of capacity in all locations, especially not in remote parts of the country.

We believe that our Solar Tree®

product could contribute to providing a solution in many of the underserved locations.

We believe that this is a good example of the sort

of opportunity for growth that the Solar Tree® product can contribute to Beam Global.

EV Standard™ Product – Our patented EVStandard™ is currently in development and will use an existing streetlamp’s foundation and grid connection.

Combining solar, wind-power and the streetlamp grid connection with on-board batteries which are stored in the EV Standard’s column, the product will deliver meaningful Level II EV charging at “curbside” or “on street” locations.

The EV Standard™ design combines a tracking solar panel, wind energy and utility-generated electricity from the existing streetlamp grid connection in a bank of integrated batteries.

While most traditional streetlamps do not have sufficient electrical capacity to provide meaningful EV charging, the combination of all three sources of power provides sufficient electrical capacity for EV charging in a sustainable and economical manner.

Densely populated areas do not have large open parking lots and will require EV charging solutions where drivers park on the street.

The EV Standard TM can provide that without requiring expensive, disruptive, and time-consuming construction or electrical work.

This product will continue to charge during grid failures and greatly reduces the cost of electricity when compared to an all grid-powered solution.

We believe our patented EV Standard™ product, when developed, will create a significant additional opportunity for product sales and revenue generation.

· EV ARC™ DCFC – DC Fast

Charging system for charging EVs comprised of four interconnected EV ARC™ systems and a 24kW DC fast charger.

· BeamSpot™ – patent issued

on December 31, 2019, and currently.in the process of initial installation.

A streetlight, EV charging and emergency power product which

uses an existing streetlight’s foundation and a combination of solar, wind, grid connection and onboard energy storage to provide

curbside charging and emergency power without the need to do extensive construction or electrical work.

· BeamBike™ - rapidly deployed,

construction free, solar-powered charging system based on the patented EV ARC™ platform which generates and stores its own clean

electricity, accessed through twelve integrated, weatherized 120 V outlets supporting any eBike charger.

Supports 12 eBikes and is available

with or without bundled eBike packages.

· BeamPatrol™ - Rapidly deployed and

easily transported, the BeamPatrol™ station allows law enforcement and safety personnel to charge and quickly access

electric motorcycles without the need for any additional infrastructure or fuel.

This innovative solution is ideal for law

enforcement, customs and border patrol, the military, park services, air and seaport operations and

any situation where the ability to rapidly gain access to an environment, without alerting targets of the operation, is required.

BeamPatrol™ and

the motorcycles generally have low maintenance and fuel costs and provide a highly reliable mobility solution while assisting in the carbon

reduction efforts of the agencies that use the product.

Available with, or without bundled Zero eMotorcyles.

· BeamWell™ - based

on the patented EV ARC™ system, is a self-sufficient, self-contained operational system for use in war zones and remote or disaster

areas where only salt, brackish or dirty water is available because a reliable clean water supply is not available or has been interrupted.

The BeamWell™ system provides three essential services to regions in crisis:

it turns seawater into fresh water, which is then

stored in an integrated 3000-liter tank that is replenished daily;

it provides a source of electricity which can be used for medical

or communications devices as well as cooking, refrigeration and lighting;

and it charges four integrated and bundled Benzina

Zero electric mopeds for the rapid distribution of food, water, medications or other vital resources, to those in need.

· Smart Cities Infrastructure products

– Street lighting, street furniture, communications infrastructure products, energy infrastructure products, with electronics integration

including renewable energy sources, battery storage, sensors and IoT integration.

· UAV ARC™ - patent issued on

November 24, 2020, and currently under development.

An off-grid, renewably energized and rapidly deployed product and network used to

charge aerial drone (UAV) fleets.

· Power electronics and energy storage solutions for telecommunications,

energy infrastructure and, in the future, our own patented product portfolio.

Energy Storage Solutions

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We believe that we are unique in the EV charging industry in that we use our

own proprietary energy storage solutions in our EV ARC™ and EV Standard™ units.

Our proprietary and patented passive thermal

management, modular platform architecture, and scalable battery management systems (BMS), enhance safety and performance to prevent thermal

events, while extending battery life and reducing lifetime stored energy costs.

We provide safe, scalable and high-powered energy storage

solutions which have enabled electrified applications in many formats for Fortune 100 companies in the U.S and Internationally.

own proprietary energy storage solutions in our EV ARC™, BeamSpot™ and other EV charging products.

Our proprietary and patented

passive thermal management, modular platform architecture, and scalable battery management systems (BMS), enhance safety and performance

to prevent thermal events, while extending battery life and reducing lifetime stored energy costs.

We provide safe, scalable and high-powered

energy storage solutions which have enabled electrified applications in many formats for Fortune 100 companies in the U.S and Internationally.

Energy Security and Disaster Preparedness

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We have witnessed power outages in Texas due to cold weather,

in California and New York due to hot weather and in other parts of the nation whenever inclement conditions such as high winds or flooding

California has also been susceptible to public safety power shutoffs (PSPS) to prevent fires during high wind events.

been kinetic and cyber-attacks on the grid and the U.S.

government has evidence of intrusions by nefarious nation state actors.

Street Journal article reported that attacks on the US power grid rose 71% in 2022 over 2021.

in California due to wildfires and in California and New York due to hot weather and in other parts of the nation whenever inclement conditions

such as high winds or flooding occur.

California has also been susceptible to public safety power shutoffs (PSPS) to prevent fires during

high wind events.

There have been kinetic and cyber-attacks on the grid and the U.S.

government has evidence of intrusions by nefarious

nation state actors.

A Wall Street Journal article reported that attacks on the US power grid rose 71% in 2022 over 2021.

In April 2024,

North American Electric Reliability Corporation (NERC), a division of the grid oversight body, reported

that physical assaults on the grid have remained high since rising in 2022, with about 2,800 reports of gunfire, vandalism and other strikes

on electrical networks in 2023.

North American Electric Reliability Corporation (NERC), a division of the grid oversight body, reported that physical assaults on the

grid have remained high since rising in 2022, with about 2,800 reports of gunfire, vandalism and other strikes on electrical networks

Some 3% of those attacks led to outages or other operational problems.

Events such as these constitute

significant vulnerabilities which are expensive, disruptive, inconvenient, and dangerous.

As we electrify our transportation fleets, these

events may become catastrophic.

has a Strategic Petroleum Reserve to ensure that it never runs out of gasoline and diesel, but

there is no strategic electric reserve.

The electrical grid faces unprecedented challenges as a result of increased frequency and intensity

of extreme weather events, such as heat waves, wildfires, hurricanes, floods and other climate events which can disrupt the generation,

transmission and distribution of electricity.

Events such as these constitute significant vulnerabilities

which are expensive, disruptive, inconvenient, and dangerous.

As we electrify our transportation fleets, these events may become catastrophic.

has a Strategic Petroleum Reserve to ensure that it never runs out of gasoline and diesel, but there is no strategic electric

The electrical grid faces unprecedented challenges as a result of increased frequency and intensity of extreme weather events,

such as heat waves, wildfires, hurricanes, floods and other climate events which can disrupt the generation, transmission and distribution

of electricity.

Beam’s products are

a highly robust and secure source of power for EVs and provide a hedge against grid failures.

Our EV ARC™ and Solar Tree® currently

provide, and our EV-Standard™ will provide, locally generated and stored electricity.

We are engaged with government officials at

every level to increase awareness of our products and the benefits they can bring to energy security.

We are increasingly hearing suggestions

that 25% of all EV charging infrastructure should be independent of the centralized grid.

We believe that our products are uniquely positioned

to fulfill this need.

We believe that our current contracts with California, Florida, New York City, and the Federal government through

our General Services Administration (GSA) Multiple Award Schedule Contract ideally position us to take advantage of what we believe will

be a significant increase for the requirements of robust and sustainable EV charging infrastructure.

The Biden administration has stressed

increased commitment to:

Our EV ARC™ and BeamSpot™ currently

provide locally generated and stored electricity.

We are engaged with government officials at every level to increase awareness of our

products and the benefits they can bring to energy security.

We are increasingly hearing suggestions that 25% of all EV charging infrastructure

should be independent of the centralized grid.

We believe that our products are uniquely positioned to fulfill this need.

We believe that

our current contracts with California, Florida, New York City, and the Federal government through our General Services Administration

(GSA) Multiple Award Schedule Contract ideally position us to take advantage of what we believe will be a significant increase for the

requirements of robust and sustainable EV charging infrastructure.

We believe our products are valuable and politically popular regardless

of which administration is currently in power because they provide:

American made products

Reliable Clean Energy

Energy Security

Electrified transportation

Transportation infrastructure

American fueled transportation

Communications and energy infrastructure

We believe that our products

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On October 20, 2023, Beam

acquired Amiga, which is a business located in Serbia that engages in the manufacture and distribution of steel structures with electronic

integration, which we sell throughout the European region.

The current list of products we offer includes:

infrastructure products

for public lighting;

infrastructure products

for mobile telephone, networks, and transmission lines.

infrastructure products

for tram, trolleybus, and railways.

infrastructure products

for contact networks, masts, portals and semi-portals for road and railway signaling;

large steel lattice structures for

specific purposes (e.g., stadiums, factories, power plants, etc.);

acquired Amiga DOO Kraljevo (“Amiga”), a business located in Serbia that manufactures and distribute steel structures with

electronic integration, which products listed below we sell throughout the European region:

infrastructure products for public lighting;

infrastructure products for mobile telephone, networks, and transmission lines.

infrastructure products for tram, trolleybus, and railways.

infrastructure products for contact networks, masts, portals and semi-portals for road and railway signaling;

large steel lattice structures for specific purposes (e.g., stadiums, factories, power plants, etc.);

and (vi) distribution and command electrical cabinets.

Our new European operation

has strong engineering, product development and manufacturing capabilities which we believe is well suited to manufacture Beam’s

current products, and assists in the development of Beam’s new products, such as the EV Standard TM .

Our European operation has

strong engineering, product development and manufacturing capabilities which is well suited to manufacture Beam’s current products,

and assists in the development and manufacture of Beam’s new products, such as the BeamSpot™.

We intend to introduce our portfolio

of patented renewably energized products further in Europe the Middle East and Africa.

Since Amiga's customer profile is similar to the

customers with whom we have had success in selling our renewably energized products in the United States and we have observed that the

sales cycles for these customers is generally faster.

On August 30, 2024, Beam acquired

Telcom d.o.o.

Beograd (“Telcom”), a business located in Serbia and engaged in the manufacturing of power electronics and telecommunications

Telcom engineers and manufacturers specialized power electronics includer invertors, charge controllers, power supplies and

LED lighting.

Telcom has electrical engineering, product development and manufacturing capabilities which are ideally suited to improve

the Company’s current and future products for the global market.

Telcom has a well-respected and highly talented team of electrical

engineers, focused on power electronics and the integration of renewables and energy storage.

We intend to continue to grow Telcom’s

legacy business, and we believe that.

Telcom’s portfolio of existing customers also offer further opportunities for expansion of

our products in Europe.

Outdoor Media Advertising

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While we believe this is a proven, successful business model, and our EV ARC TM provides a good platform for advertising for

a company who seeks to promote their support of clean energy, we have been unsuccessful at finding a sponsor to date and this has become

a lower priority.

a company who seeks to promote their support of clean energy.

In November 2024, the Company announced its first sponsorship agreement

with Globos Osiguranje, one of Serbia’s premier insurance companies.

Under the agreement, Globos Osiguranje sponsored five

EV ARC™ solar-powered EV charging stations that are now deployed at Belgrade Nikola Tesla Airport, Serbia’s busiest international

travel hub, and will provide free public electric vehicle (EV) charging.

In order to facilitate this sponsored “Driving on Sunshine”

initiative, Beam Global previously secured an agreement with Belgrade Airport, part of VINCI Airports, an operator of over 70 airports

in 14 nations across the globe, to operate the network in prime locations at Belgrade Nikola Tesla Airport with further cooperation with

VINCI Airports to be considered.

This milestone three-way partnership

marks Beam Global’s entry into an owner-operator business model, generating income through a long-term annuity stream with recurring

By retaining ownership of the EV ARC™ systems, Beam Global secures a steady, predictable revenue stream while delivering

sustainable solutions.

Globos Osiguranje is uniquely able to provide “Driving on Sunshine” sponsored EV charging for free

to EV owners because EV ARC™ systems do not require utility electricity and do not generate costs for the energy dispensed.

the EV charging for free while monetizing the sponsorship significantly lowers administrative costs and risks.

We believe that the amenity

value delivered to site hosts enables Beam Global to receive highly favorable economic terms on the parking spaces in which the EV ARC™

systems are placed.

This unique model means that sponsorship payments are not diluted by typical operating costs, which might burden companies

that do not have Beam Global’s technology advantage.

Target Markets

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consist of several broad segments:

state, municipal and federal governments and agencies, auto manufacturers, corporations, energy utility

companies, universities, retail, hospitality, and international markets.

These segments can further be broken down into increasingly granular

segments as different market opportunities are identified.

Beam’s largest

customers include the U.S.

state, municipal and federal governments and agencies, corporations, universities, retail, hospitality,

and international markets.

These segments can further be broken down into increasingly granular segments as different market opportunities

are identified.

Beam’s largest customers

include the U.S.

Federal Government, including the U.S.

Army, Department of Veterans Affairs, Department of Homeland Security,

United States Marine Corps, and many other federal agencies, the State of California, which is a conglomeration of California state agencies

and municipalities, and the City of New York.

We have expanded the sale of EV ARC™ systems to 41 states throughout the U.S., three

international countries, Puerto Rico and the U.S.

Army, Department of Veterans Affairs, Department of Homeland Security, United

States Marine Corps, and many other federal agencies, the State of California, which is a conglomeration of California state agencies

and municipalities.

We have expanded the sale of EV ARC™ systems to 41 states throughout the U.S., three international countries,

Puerto Rico and the U.S.

Virgin Islands in the Caribbean.

The largest customers that we sold to in 2023

were the US Army followed by the Department of Veterans Affairs.

The largest customers that we sold in 2024 were the US Army, Department of Homeland

Security, followed by the State of California.

In October 2023, Beam acquired

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manufacture and distribution of steel structures with electronic integration, such as streetlights, cell towers, and ski lift towers.

We believe Amiga’s manufacturing capabilities are well suited to manufacture and sell Beam’s current products into

the European market , which is a larger market than the U.S.

Amiga’s manufacturing capabilities are well suited to manufacture and sell Beam’s current products into the European

market , which is a larger market than the U.S.

Amiga has also

a strong engineering team that can help to develop our EV Standard TM for sale in both the U.S.

We believe this

provides a strong growth opportunity for Beam’s products.

a strong engineering team that can help to develop our new products for sale in both the

We believe this provides a strong growth opportunity for Beam’s products.

Amiga’s target customers have typically

been of municipalities and other government entities.

Amiga's target market has typically been very similar to the target market that

we have pursued in the United States and as a result we are now able to expand our selling efforts into much larger markets with what

we believe are significantly improved opportunities.

August 30, 2024, Beam acquired Telcom d.o.o.

Beograd (“Telcom”), a business located in Serbia and engaged in the manufacturing

of power electronics and telecommunications equipment specializing in power electronics includer invertors, charge controllers, power

supplies and LED lighting.

Telcom has a well-respected and highly talented team of electrical engineers, focused on power electronics

and the integration of renewables and energy storage.

Telcom’s target customers have typically been focused on telecommunications

infrastructure providers as well as providers of material rehandling equipment and other consumers of power electronics particularly where

inversion and energy storage are concerned.

Our energy security products with integrated battery storage renewable energy generation on

power electronics deliver a further set of product opportunities for sales to Telcom’s existing customer base and to others with

similar profiles.

Therefore, we believe that the acquisition of Telcom creates opportunities for beam to broaden our target markets while

at the same time improving our existing portfolio of products.

The factors below have been

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Economic Factors .

Our ability to deploy EV charging infrastructure with a fixed cost in environments with difficult, time consuming permitting and regulatory requirements and high construction and electrical costs.

Our ability to deploy infrastructure with a fixed cost in environments with difficult, time consuming permitting and regulatory requirements and high construction and electrical costs.

Speed to deploy.

As EV adoption increases the requirement for EV charging infrastructure becomes more acute and more urgent.

We are able to provide EV charging to locations in many cases in less time than it would take to pull permits for grid-tied solutions.

Because we are not constrained by local construction, electrical and permitting requirements we are able to scale up EV charging deployments in a manner which is not feasible with traditional approaches because of construction, design and engineering challenges inherent in in-the-ground solutions.

As EV adoption increases and the stresses on existing utility grid infrastructure increase the requirement for EV charge and energy security infrastructure becomes more acute and more urgent.

We are able to provide EV charging and energy security to locations in many cases in less time than it would take to pull permits for grid-tied solutions.

Because we are not constrained by local construction, electrical and permitting requirements we are able to scale up EV charging and other energy infrastructure deployments in a manner which is not feasible with traditional approaches because of construction, design and engineering challenges inherent in in-the-ground solutions.

Sociocultural Factors .

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Technological Factors .

We believe our products are ideal for regions with good insolation, expensive energy costs, and poor or degraded air quality, and a lack of capacity or expensive upgrade requirements for their utility grid.

We believe our products are ideal for regions with good insolation, expensive energy costs, poor or degraded air quality, and a lack of capacity or expensive upgrade requirements for their utility grid.

Consumer Products.

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been important since the early days of EV adoption.

Government tail winds are stronger than ever with many nations and states announcing

the outright ban on gasoline and diesel vehicle sales during the next two decades.

In the U.S., President Biden set a goal for 50% of

new car sales to be electric by 2030.

There are currently nine states that have announced plans to prohibit the sale of new internal combustion

engine automobiles after 2035.

California has announced a similar ban and seventeen other states have historically followed California’s

In addition to all-electric car manufacturers such as Tesla, BYD, Lucid Motors, Rivian, Polestar, etc., most car companies

now offer electric vehicle options for various types of vehicles.

General Motors has committed to only offer zero-emissions vehicles by

2035 and six major automakers including Ford, Mercedes-Benz, Volvo and 3 others, along with 30 nations, signed a pledge to eliminate sales

of new gas and diesel-powered cars by 2035 in leading markets.

Automotive manufacturers have started production of electric vehicles which

are more consistent with traditional car models that have been popular with U.S.

Ford is selling an all-electric F150 pickup

truck launched in 2022.

Since 1981, the F150 has been the most popular vehicle in the US and the top selling pickup truck for forty-three

years in a row.

The electric version of the F150 has the same towing and payload capacity and will be able to accelerate from 0 to 60

mph in under four seconds.

GM has launched an electric Hummer which has 1000HP (compared to the gasoline version with 300HP) with a similar

acceleration rate as the F150.

Government tail winds are stronger than ever even in light of the recent administration

change in Washington, with many nations and states announcing the outright ban on gasoline and diesel vehicle sales during the next two

In the U.S., while the federal government has become less enthusiastic about the acquisition of electric vehicles and electric

vehicle charging infrastructure, there are still currently nine states that have announced plans to prohibit the sale of new internal

combustion engine automobiles after 2035.

California has announced a similar ban and seventeen other states have historically followed

California’s regulations.

In addition to all-electric car manufacturers such as Tesla, BYD, Lucid Motors, Rivian, Polestar, etc.,

most car companies now offer electric vehicle options for various types of vehicles.

General Motors has committed to only offer zero-emissions

vehicles by 2035 and six major automakers including Ford, Mercedes-Benz, Volvo and 3 others, along with 30 nations, signed a pledge to

eliminate sales of new gas and diesel-powered cars no later than 2040 in leading markets.

Automotive manufacturers have started production

of electric vehicles which are more consistent with traditional car models that have been popular with U.S.

GM has launched

an electric Hummer which has 1000HP (compared to the gasoline version with 300HP) with a similar acceleration rate as the F150.

Union has also announced a ban of the sale of internal combustion engine vehicles in 2035.

Europe is the largest automotive market in

the world with 405 million cars versus 320 million in China and 290 million in the United states.

We believe that consumers

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Growth Strategy

Our growth strategy can be broken into the following

Geographic expansion

Product and technology portfolio expansion

Customer segment diversification

Targeted selective acquisitions

Geographic Expansion

Since the fourth quarter of

2023, we have been selling our products in the European market.

We have undertaken a process of training salespeople in that region and

equipping them with sales collateral so that they are able to adequately describe our product solutions and to educate our customers on

the v Geographic expansion.

That process has already borne fruit, most notably with our sales of EV ARCs™ to the British Army in

Cyprus And the deployment of a sponsored network of EV ARCs™ at the Belgrade International Airport.

Our Spanish partners GECI have

sold EV ARCs™ in Spain And our Romanian partners have recently closed a sale in Romania.

We now have sales representatives in many

countries in Europe and the Balkans as well as in the Middle East and in Africa period.

We believe that this level of geographic expansion

will create many opportunities for us to expand our sales and revenues in the coming quarters.

Historically our revenues and growth have

all come from the US market.

We're now selling into the US, North and South America, Europe, the Middle East and Africa.

each of these markets are similar and our products capability of addressing those needs is, we believe, universal.

Product and technology portfolio expansion

Historically the majority

of our revenues have been generated through the sale of a single product - the EV ARC.

In the fourth quarter of 2024 beam global introduced

several new products targeting energy security and the electrification of transportation.

BeamBike™ is a rapidly

deployed charging infrastructure product for electric bicycles.

There's no construction or electrical work and because it generates and

stores its own electricity it does not require a connection to the utility grid and it does not generate a utility bill.

It is capable

of charging 12 electric bicycles at the same time and we will sell it either without Electric bicycles so that existing owners and users

can charge their e bikes outdoors, or as a bundle with the bicycles included through a partnership with our partner Benzina Zero.

BeamPatrol™ is a rapidly

deployed charging infrastructure product for electric motorcycles.

There's no construction or electrical work because it generates and

stores its own electricity and does not require a connection to the utility grid and does not generate a utility bill.

It is capable of

charging 4 electric motorcycles at the same time and we will sell it either with out electric motorcycles so that existing owners and

users can charge their electric motorcycles while they are out and about or we will sell it bundled with four electric motorcycles from

zero motorcycles our partner.

This product has been developed particularly to target the law enforcement community who are increasingly

using electric motorcycles in place of gasoline models.

Currently police departments in the US Europe and Asia are using these motorcycles

and we believe that creating a bundle where the customer receives the motorcycles the charging infrastructure and all the fuel that the

motorcycles will ever consume creates a significant opportunity for increased sales and revenues.

BeamSpot™ is a street

light replacement product.

It generates and stores its own electricity using a light wind generator and a tracking solar array period.

The streetlight’s pole is full of our proprietary battery technology.

This product has been designed to provide street lighting

that does not fail during a blackout and also curbside electric vehicle charging without the need for extensive construction or electrical

improvements.

It is an ideal product for municipalities, airports, shopping malls, stadiums or any environment where there are large parking

lots or the requirement to provide electric vehicle charging at the curb.

BeamWell™ is a rapidly

deployed product which requires no construction or electrical work.

It provides electricity for cooking refrigeration or other essential

It is also equipped with a desalinization plant which enables it to convert salt water into clean drinking water.

is further equipped with four highly ruggedized electric scooters which enable the operators of the product to deliver food, medical supplies

or clean drinking water to constituents in environments where those resources are not readily available and because of wars or national

disasters, it is not easy to drive larger 4 wheel vehicles to the locations where the people are in need.

We have designed this product

initially for deployment in Gaza where we expect non-government organizations to use it in the execution of their mission.

We also believe

that this will be an excellent product for post natural disaster recovery efforts.

For example, hurricanes often knock out electrical

supplies and spoil freshwater supplies due to saltwater storm surge.

BeamWell™ Can be deployed in less than an hour after delivery

and provide essential services to people in need either in war zones or in regions where natural disasters have struck.

BeamSkoot™ is a rapidly

deployed charging infrastructure product for electric mopeds.

There's no construction or electrical work and because it generates and

stores its own electricity it does not require a connection to the utility grid and it does not generate a utility bill.

It is capable

of charging 4 electric mopeds at the same time, and we will sell it either without electric mopeds so that existing owners and users can

charge outdoors, or as a bundle with the mopeds included through a partnership with our partner Benzina Zero.

As a result of our acquisition

of Amiga in 2023, we are one of the largest manufacturers of streetlights in Europe.

We have an extensive portfolio of bespoke and mass-produced

street lighting solutions which we are selling in countries across the region.

We also manufacture other steel structures with integrated

electronics such as renewable energy production, telecommunications infrastructure and traffic portals.

We are increasingly enhancing

our portfolio of products through the addition of software, power electronics and sensors period.

A significant part of our growth strategy

is based upon our belief that our customers will increasingly value data delivered to them from our extensive portfolio of products which

we are continuing to make further developments in this area.

We intend to make further developments in this area and we'll use a combination

of in-house development solutions, so solutions acquired from others and potentially acquisitions.

We believe that combining machine learning

with AI in the type of sensor rich environments which we can deploy will create significant revenue opportunities.

Customer Segment Expansion

Historically a large proportion

of our revenues have been derived through the sale of products to US governmental agencies.

However, in 2024 we continued to increase

the number of sales from corporate customers.

Over 30% of our sales in 2024 were nongovernment sales.

As part of our growth strategy for

the last several quarters, we intend to continue to expand our focus on sales to nongovernment customers.

We believe that our products

provide a great deal of value to corporate customers who are increasingly concerned with energy security, carbon contribution reductions

and technology solutions which do not require significant construction or electrical projects.

At the same time, we will continue to focus

significant selling resources on governmental agencies outside of the United States.

In Europe, governments are still very actively pursuing

the electrification of transportation and carbon reduction through the generation of electricity using renewable sources.

In the Middle

East there are large amounts of petrol dollars being spent on renewable energy technology and the electrification of transportation.

believe that Africa offers very significant opportunities as that continents 1.4 billion people increasingly adopt vehicles which are

not powered by internal combustion engines.

We believe that all these new customer segments will create opportunities for significant

growth in 2025 and the years beyond.

Targeted Selective Acquisitions

Our strategic geographic and

product portfolio expansion has been significantly enhanced by the acquisitions that we have already made.

We have gained new technologies,

new customers and new market opportunities while at the same time adding capabilities which have reduced our costs and enhanced our gross

Our acquisition of a battery manufacturing company in 2022 increased our patent portfolio, gave us access to new industries and

opportunities, defended our supply chain, and has had a significant impact on reducing our cost of goods sold while improving our product.

Our acquisition of a 250,000 square foot factory facility on 6 acres of land in Kraljevo, Serbia opened up new markets in Europe, the

Middle East and Africa.

It also enabled us to develop our BeamSpot™ product, reduce our cost of manufacturing both in Europe and

the United states.

It also enhanced our engineering and product development team in an extremely economically beneficial manner.

Our acquisition

of a power electronics company also based in Serbia means that we can now start to create bespoke electronics solutions for our products

which will enable us to reduce our costs while improving our production periods.

This acquisition also allowed us access to new customer

We take a highly disciplined and careful approach, where acquisitions are concerned, ensuring that we buy companies which are

not only a good strategic fit for us but that also come with competent and engaged management teams at a price, and with a deal structure,

which is not only good for everybody involved, but with particular emphasis on benefiting Beam Global shareholders.

We continue to be

acquisitive, and we are actively searching for opportunities which we believe will continue to improve our business model, our business

operations, our revenues and profitability.

We believe that there are areas of opportunity in further sourcing our manufacturing operations

through the acquisition of companies who make components that are necessary to the operation of our products.

We also believe that there

are opportunities for us to acquire companies which may bring new technological progress to our organization in order to increase the

barrier to entry for our competition and our ability to generate further revenues at higher gross profits.

We will continue to seek targets

and to endeavor to negotiate beneficial deals for Beam Global while at all times retaining our discipline and our commitment to making

acquisitions that are well priced, well-structured and in the best interests of Beam Global shareholders

The electric vehicle market

is expected to grow at a rapid pace, and it is expected that the EV infrastructure market will grow at a comparable pace to support the

Research reports indicate that the EV infrastructure market is expected to reach $224.8 Billion by 2032 which is a 27.5% compound

annual growth rate (CAGR) between 2024 – 2032.

In December 2022, the California Energy Commission approved a plan for nearly $2.9

billion in funding for 90,000 new electric vehicle chargers in the state.

We currently operate in

three rapidly growing markets:

According to Market.us, research indicates that the EV infrastructure market is expected to reach $224.8 Billion by 2032 which is

a 27.5% compound annual growth rate (CAGR) between 2024 – 2032.

In December 2024, the California Energy Commission approved a plan

for nearly $1.4 billion in funding for 17,000 new light-duty chargers statewide.

We currently operate

in three rapidly growing markets:

EV charging infrastructure, energy storage (batteries), and energy security and disaster preparedness.

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their needs are met.

Our sales process is heavily

focused on educating prospective customers about our products.

We have been investing more in marketing materials and videos, and we have

engaged a public relations firm to educate the market.

Beam uses research to identify potential customers, as well as contacts established

through trade show events and in-bound calls.

We also utilize a combination of regional and industry focused campaigns, nurturing campaigns,

speaking opportunities, product demonstrations, press releases and social media (Facebook, Instagram, Twitter, and LinkedIn).

we believe, an industry leader in the sustainable EV charging infrastructure space, and we use our website and social media to highlight

our innovative products and offerings.

The sale of our products can

often have long sales cycles due to the capital expense, budgeting cycles, and the sophisticated nature of our products, though we have

also increasingly observed shorter sales cycles along with an increase in the number of units ordered in recent years.

We believe this

is attributable to an increase in awareness and acceptance of our products as well as an increase in the urgency surrounding the deployment

of EV charging infrastructure.

Sales often rely on bureaucratic processes and funding approval which can result in extended sales cycles.

We also support our customers by identifying grants and the federal grant process to reduce the cost of their purchase.

Historically, almost all of our sales have been made by a relatively small in-house sales team based largely within

the United States.

In 2024, we started to execute on a new strategy of engaging outside sales resources such as distributors, resellers

We view this salesforce strategy as an important part of our plan to increase sales while maintaining our operating costs

at a low and stable level.

The agreements we have put in place with distributors, resellers and agents are all performance based and as

such we have no increase in our operational costs.

We believe we are increasingly

able to be successful with an outside sales strategy due to the maturing of our internal sales processes and materials and collateral.

We are currently in the process of designing a thorough selling process flow instruction manual.

we're also developing a Sales Resource

Center which will be hosted online and available to anyone we authorize.

We now have resellers and

agents in the United States, Spain, Portugal, Italy, Caribbean, Central America, the Balkans, the Middle East, Africa and Australia.

of our selling collateral has already been translated into multiple languages and we are creating video and other content which will be

used as selling aids by our own internal sales teams as well as the external resources we are engaging period.

The external resources

which we have recruited all have proven histories and good experience in selling infrastructure products to the types of customers with

whom we have had success historically.

Our European operations legacy business has for many years been supported by outsourced selling

resources and we've been able to learn a great deal from their experiences while at the same time putting those same selling resources

to work distributing the new products which we were introducing to the region.

While it is early days for this relatively new strategy

on our part, we are already starting to see the benefits from it and we believe that this will create significant opportunities for us

to increase our revenues and profitability in new markets and the markets we're already addressing.

sales process is

heavily focused on driving awareness of Beam Global solutions for charging needs.

We have been investing more in marketing and videos.

Beam uses research to identify potential customers, as well as contacts established through trade show events and in-bound calls.

utilize a combination of regional and industry focused campaigns, nurturing campaigns, speaking opportunities, product demonstrations,

press releases and social media (Facebook, Instagram, Twitter, and LinkedIn).

Beam is, we believe, an industry leader in the sustainable

EV charging infrastructure space, and we use our website and social media to highlight our innovative products and offerings.

Sales of our products can

often have long sales cycles due to the capital expense, budgeting cycles, and the sophisticated nature of our products.

We are working

to decrease these sales cycles and believe with an increased focus beyond government agencies this will improve as we increase awareness

and gain acceptance of our products as well as an increase in the urgency surrounding the deployment of EV charging infrastructure.

often rely on bureaucratic processes and funding approval which can result in extended sales cycles.

We support our customers by identifying

grants and the federal programs to reduce the cost of their purchase.

Our products may be eligible

for various taxes and other incentives, which can significantly reduce the out-of-pocket expense paid by our customer.

for various taxes and other incentives, which can significantly reduce the out-of-pocket expenses paid by our customers.

Examples of these

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This program is available through January 1, 2033, and provides an income tax credit for businesses up to $100,000 per deployment, which helps to make EV chargers more accessible for commercial use.

In addition, President Biden

has made several commitments to the funding of clean energy and EV charging at the federal level and we believe, if re-elected in 2024,

the current administration will continue incentives for these products an example of some of the federal and state funding programs include:

A federal infrastructure bill passed in November 2021 designated $7.5 billion for the deployment of 500,000 EV charging stations across the US, $5.0 billion of which will be made available under the new National Electric Vehicle Infrastructure (NEVI) Formula Program which is allocated annually to state transportation departments and an additional $2.5 billion is available in grant opportunities to help connect rural and marginalized communities to electric vehicles.

The Federal Government released a guidance manual on how NEVI funds should be spent in the first quarter of 2022.

Beam Global’s products were pictured on the front cover of that manual.

In December 2022, the California Energy Commission approved a $2.9 billion investment plan to fund approximately 90,000 new electric vehicle chargers in the state.

Department of Transportation’s Charging and Fueling Infrastructure (CFI) Discretionary Grant Program, established by the Bipartisan Infrastructure Law, provides $2.5 billion over five years to a wide range of applicants, including cities, counties, local governments, and tribes to strategically deploy EV charging and other alternative vehicle-fueling infrastructure projects in publicly accessible locations in urban and rural communities, as well as along designated Alternative Fuel Corridors (AFCs).

We believe that because our

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2023 and 124 units totaling $10.4 million sold in 2024.

The term of the California Contract expires in June 2025, but the term may be extended

upon mutual agreement for two additional one-year periods.

The term of the California Contract expires in June 2025, but the term may be

extended upon mutual agreement for two additional one-year periods.

GSA MAS and GSA BPA

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procurement process and ensure the best pricing for the agency.

We sold 96 EV ARCs™ through these contracts totaling $7.9 million

in 2022 and 621 EV ARCs TM for $47.7 million in 2023.

We received several large contracts from the US Army, Department of Homeland

Security, Department of Veteran Affairs, US Marine Corps, New York City Department of Citywide Administrative Services and more through

these contracts.

We sold 717 EV ARCs™ through these contracts for $55.6 million in

prior years and 189 EV ARCs TM for $16.5 million in 2024.

We received several large contracts from the US Army, Department of

Homeland Security, Department of Veteran Affairs, US Marine Corps and more through these cancellable contracts.

EV Charging Infrastructure

We do not compete with EV

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otherwise have had.

ISUN) offers an off grid charging solution using solar power to charge batteries, but their product is not transportable, does not have solar tracking, does not fit in a standard parking space and requires permitting, construction and electrical work for its installation.

EV Sheltron uses 20-foot shipping containers with batteries inside, solar panels on the roof and an EV charger bolted to the outside.

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Electrify America is another

example of an entity which is providing free or discounted EV charging infrastructure is Electrify America is required to spend approximately

$2 billion by the end of 2026 on EV charging infrastructure ($800 million in California) to satisfy the requirements of a settlement with

Electrify America is a customer of Beam Global and has used our products to assist in the expansion of their EV charging

example of an entity which is providing free or discounted EV charging infrastructure Electrify America plans to spend $2 billion by the

end of 2026 on EV charging infrastructure access and education programs in the United States ($800 million in California).

Electrify America

is a customer of Beam Global and has used our products to assist in the expansion of their EV charging network.

We also face competition,

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utilities as competition and instead view them as a significant opportunity as they increasingly add off grid solutions to their energy

Our electric bike recharging

product faces product competition from a variety of installers of bike sharing stalls and electric bike charging stations.

Most electric

bike stations that we are aware of are connected to utility grid and as a result rely on construction and electrical projects and the

utility grid connection.

We believe no other company is producing a robust on the rapidly deployed high school charging station which

provides a secure location for the bicycles, the charging infrastructure, and all of the electricity that the bicycles will ever consume.

In general, adopters of electric

motorcycles after engaged separate contractors and service providers for the provision of the charging which is necessary to keep those

motorcycles active.

We are not aware of any other company which provides a turnkey solution which includes a bundle with the motorcycles,

the charging infrastructure and the fuel for the motorcycles under a single invoice there's no construction electrical work or project

management or planning required.

Energy Security

Where energy security is concerned,

we compete with companies that produce generators and combined solar and storage solutions.

we compete with companies that produce generators and combine solar and storage solutions.

Companies in this space range from small startup

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over these other solutions includes:

Rapid deployability and scalability of our products.

Rapid deploy ability and scalability of our products.

Our products offer a turnkey solution, are manufactured in our facilities and can be deployed in less than an hour after delivery to a customer.

This compares favorably with grid-tied alternatives which involve an entire ecosystem for the design, engineering, permitting, and constructing of civil projects which requires engaging a company, or group of companies, including architects, civil engineers, electrical engineers, zoning specialists, consultants, general contractors, electrical contractors, and EVSE vendors.

This compares favorably with grid-tied alternatives which involve an entire ecosystem for the design, engineering, permitting, and constructing of civil projects which require engaging a company, or group of companies, including architects, civil engineers, electrical engineers, zoning specialists, consultants, general contractors, electrical contractors, and EVSE vendors.

These grid-tied projects can take six months to two years to complete.

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Our unique ability to deliver up to 25% more driving miles to an EV from an off-grid solar installation is, we believe, a significant differentiator.

Over time, we have continued to make improvements to our product which increases our product’s energy production while reducing product costs, whereas the grid-tied competition is stuck at a theoretical maximum amount of energy that can be delivered at a given location.

Over time, we have continued to make improvements

to our product, which increases our product’s energy production while reducing product costs, whereas the grid-tied competition

is stuck at a theoretical maximum amount of energy that can be delivered at a given location.

Streetlights and integrated steel structures

The street light industry is highly competitive and there are several

companies operating in Europe who directly compete with us.

While cost is generally a major factor for our customers, the 30 years that

our European facilities have spent successfully delivering product to customers gives us a competitive advantage, particularly with those

customers with whom we've already done business.

Smaller competitors are generally less well equipped and because they buy less raw materials,

particularly steel, they tend to have higher cost structures where direct costs are concerned.

We are often able to compete with the larger

competitors through our local presence in the Balkans and through our more nimble and entrepreneurial approach to winning contracts.

Petitejean S.A.S.

Pali Campion SRL

Valmont Polska

z.o.o.V– Poland

Dalekovod D.D.

We believe that the combination of our legacy streetlight

business with our patented portfolio of renewable energy security and EV charging products as well as our ability to create bespoke custom

batteries, makes our product offering unique within the markets we are targeting period.

We further believe that in certain circumstances

the unique nature of our business will create a barrier to entry for our competition even in the legacy Street lighting and other integrated

steel structure product businesses.

Manufacturing

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The facility houses our corporate operations, sales, design, engineering and product manufacturing.

2022, we were staffed for one shift, five days a week and produce approximately 260 EV ARC™ units.

We were able to produce over

700 units in 2023 from the same facility with minimal investment and we believe we could increase further to produce approximately 4,000

EV ARC™ units a year from our current facility.

San Diego lease expires on August 31, 2025 and we are currently exploring options.

We also lease a 37,800 square

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who need energy storage solutions.

We intend to produce EV Standard™ products in this facility as well.

In Europe we own a manufacturing

facility in Kraljevo, Serbia that has adequate space and capacity to manufacture Amiga’s legacy product offerings as well as EV

ARC™s and our other products as needed for the European market.

We intend to produce BeamSpot™ products in this facility as well.

In Europe we own a 45,033

square meter office and manufacturing facility in Kraljevo, Serbia on 6 acres of land that has adequate space and capacity to manufacture

Amiga’s legacy product offerings as well as EV ARC™s and our other products as needed for the European market.

We also lease

a 465 square meter small business office in Belgrade, Serbia for Telcom.

All of our products are currently

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Many of our suppliers are local, which allows for shorter lead times and lower transportation costs.

EV ARC™ product family requires no field installation work and is typically delivered to the customer site by us or by a third-party

transportation company for a fee.

We sell our Solar Tree® products as an engineered kit of parts to be installed by third parties

employed by the buyer of the Solar Tree® kit.

EV ARC™ product family including BeamBike™, BeamPatrol™, BeamWell™ and BeamSkoot™ requires no field installation

work and is typically delivered to the customer site by us or by a third-party transportation company for a fee.

Our BeamSpot™ product

requires minor on site work you modify the existing three flights foundation so that it can support the extra load which beam spot with

its solar array and wind turbine creates.

We sell our Solar Tree® products as an engineered kit of parts to be installed by third

parties employed by the buyer of the Solar Tree® kit.

We continually endeavor to

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2024, was $5.6 million.

Our backlog on December 31, 2022, was $59.3 million, of which $58.8 million is deliverable within twelve months.

Reported backlog represents firm purchase orders or contracts received by customers for deliveries scheduled in the future.

Our backlog on December 31, 2023, was $21.7 million.

Reported backlog represents firm purchase orders or contracts

received by customers for deliveries scheduled in the future.

Government Regulation

Businesses in general are

subject to extensive regulation at the federal, state, and local level.

subject to extensive regulations at the federal, state, and local level.

We are subject to extensive government regulation relating to

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results, and financial condition.

As of the date

of this report, we have 323 employees, of which 25 are temporary employees.

As of December

31, 2024, we have 276 employees, of which 31 are temporary employees.

Most of the temporary employees are retained through a temporary

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business