What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2026-03-31 compared with 2025-04-09 · 409 added, 471 removed, 138 unchanged (86% of the section changed)

Blink Charging Co., through its consolidated subsidiaries, is a leading owner, operator, provider, and manufacturer

of electric vehicle (“EV”) charging equipment and networked EV charging services in the rapidly growing U.S.

and international

markets for EVs.

Charging Co., through its consolidated subsidiaries, is a leading owner, operator, and provider of electric vehicle

(“EV”) charging equipment and networked EV charging services in the rapidly growing U.S.

and international markets for

Blink offers EV charging equipment and services, enabling EV drivers to recharge at various locations.

Blink’s principal line of products and services is its Blink EV charging networks (the “Blink Networks”) and Blink EV

charging equipment, also known as electric vehicle supply equipment (“EVSE”), and other EV-related services.

The Blink Networks

are a proprietary, cloud-based system that operates, maintains, and manages Blink charging stations and handles the associated charging

data, back-end operations, and payment processing.

The Blink Networks provide fleets, property owners, managers, parking companies, and

state and municipal entities (“Property Partners”), among other types of commercial customers, with cloud-based services that

enable the remote monitoring and management of EV charging stations.

The Blink Networks also provide EV drivers with vital station information,

including station location, availability, and fees (as applicable).

capture more revenues derived from providing EV charging equipment to commercial customers and to help differentiate Blink in the EV

infrastructure market, Blink offers Property Partners a comprehensive range of solutions for EV charging equipment and services that

generally fall into one of the business models below, differentiated by who owns the equipment and who bears the costs of installation,

equipment, maintenance, and the percentage of revenue shared.

principal line of products and services is its Blink EV charging networks (the “Blink Network”) and Blink EV charging

equipment and other EV-related services.

The Blink Network is a proprietary, cloud-based system that operates, maintains, and

manages Blink charging stations and handles the associated charging data, back-end operations, and payment processing.

Network provides fleets, property owners, managers, parking companies, and state and municipal entities (“Property

Partners”), among other types of commercial customers, with cloud-based services that enable the remote monitoring and

management of EV charging stations.

The Blink Network also provides EV drivers with vital station information, including station

location, availability, and fees (as applicable).

capture more revenues derived from providing EV charging equipment and to help differentiate Blink in the EV infrastructure market, Blink

offers a comprehensive range of solutions for EV charging equipment and services that generally fall into one of the

business models below, differentiated by who owns the equipment and who bears the costs of installation, equipment, maintenance, and

the percentage of revenue shared.

our Blink-owned turnkey business model , we incur the charging equipment and installation

We own and operate the EV charging station and provide connectivity of the charging

station to the Blink Networks.

In this model, which favors recurring revenues, we incur most

costs associated with the EV charging stations;

thus, we retain substantially all EV charging

revenues after deducting network connectivity and processing fees.

Our agreement with the

Property Partner typically lasts nine years, with extensions that can bring it to 27 years.

station to the Blink Network.

In this model, which favors recurring and repeat revenues,

we incur most costs associated with the EV charging stations;

thus, we retain substantially

all EV charging revenues after deducting network connectivity and processing fees.

Our agreement

with the Property Partner typically lasts nine years, with extensions that can bring it to

our Blink-owned hybrid business model , we incur the charging equipment costs while

1 unchanged sentence

We own and operate the EV charging station

and provide connectivity to the Blink Networks.

and provide connectivity to the Blink Network.

In this model, since the Property Partner

incurs the installation costs;

we share a more generous portion of the EV charging revenues

with the Property Partner after deducting Blink network connectivity and processing fees.

Our agreement with the Property Partner typically lasts seven years, with extensions that

can bring it to 21 years.

incurs the installation costs, we share more of the EV charging revenues with the Property

Partner after deducting Blink network connectivity and processing fees.

Our agreement with

the Property Partner typically lasts seven years, with extensions that can bring it to 21

our host-owned business model , the Property Partner purchases, owns, and operates

1 unchanged sentence

We work with the Property

Partner by providing site recommendations, connectivity to the Blink Networks, payment processing,

Partner by providing site recommendations, connectivity to the Blink Network, payment processing,

and optional maintenance services.

1 unchanged sentence

all the EV charging revenues after deducting Blink network connectivity and processing fees.

also own and operate car-sharing and ride-sharing programs through our wholly owned subsidiary, Envoy Mobility (formerly Blink Mobility).

also own and operate car-sharing programs through our wholly owned subsidiary, Envoy Mobility (formerly Blink Mobility).

These programs

allow customers to share electric vehicles through subscription services and charge those cars through our charging

Blink’s wholly owned subsidiary, Envoy, filed a registration statement on Form S-1 dated February 11, 2025

to register shares in connection with its contemplated initial public offering as well as the issuance of shares to its former shareholders

in connection with Blink’s acquisition of Envoy.

pursuit of our commitment to fostering the widespread adoption of electric vehicles (EVs) through the establishment and management

of EV charging infrastructure on a global scale, we remain steadfast in our dedication to mitigating climate change.

This dedication

is evidenced by our efforts to diminish greenhouse gas emissions stemming from gasoline-powered vehicles.

With the goal of being a

leader in the build-out of EV charging infrastructure and maximizing our share of the EV charging market, we have established

strategic commercial, municipal, and retail partnerships across industry verticals and encompassing numerous transit/destination

locations, including airports, auto dealers, healthcare/medical, hotels, mixed-use facilities, municipal sites, multifamily residential and

condos, parks and recreation areas, parking lots, restaurants, retailers, schools and universities,

stadiums, supermarkets, transportation hubs, and workplace locations.

2024, we entered into agreements with significant new customers, including the City of South Lake Tahoe, Alameda City, the City of Porterville,

the Fresno Unified School District, Imperial Center, the City of Fresno, New Castle County, Maryland Department of General Services,

Sonepar, and CED.

Similarly, in 2023, we entered into agreements with significant new customers, including the United States Postal Service

(USPS), Mack Trucks, McArthurGlen, BluePoint, Mike Albert Fleet Solutions, Royal Farms, John Henry General Store, Moberly Motor Company,

Arcos Dorados (McDonald’s Puerto Rico), AAA, Allegiant Stadium (Las Vegas), Village of Tuckahoe (NY), Miami Beach (FL), Metropolitan

Government of Nashville-Davidson County, and Salt Lake City International Airport, that expand our potential for unit sales and deployments.

2022, we expanded our presence through the acquisitions of SemaConnect and Electric Blue, establishing new offices in Bowie, Maryland,

Albans, United Kingdom.

Additionally, we opened manufacturing facilities in Bowie, Maryland, and Bangalore, India.

These additions

enhance our capacity in the U.S.

and internationally, enabling us to develop and manufacture hardware and innovate new software capabilities

to address the evolving EV charging landscape.

They also serve as crucial hubs for operations in the United States, Europe, Asia Pacific,

and the Middle East.

This expansion aligns with our strategic goal of growing our global engineering teams and establishing operational

hubs to support our international expansion into new regions.

of December 31, 2024, we contracted, sold or deployed 109,596 chargers, of which 87,500 were on Blink Networks (comprised of 61,625 Level

2 commercial chargers, 1,392 DCFC commercial chargers, 691 residential chargers, and 23,792 chargers pending to be commissioned).

on Blink Networks are 6,867 chargers owned by us.

The remaining 22,096 not on Blink networks were on other networks, international sales, or

deployments (comprised of 5,155 Level 2 commercial chargers, 75 DC Fast Charging chargers, 12,298 residential Level 2 Blink EV chargers,

2,861 sold to other U.S.

networks and, 1,707 sold internationally).

Blink networked chargers include public and private chargers, as

designated by stations owners, and are net of swap-outs, replacement units, and decommissioned units.

Certain commercial chargers include

chargers installed in residential settings for commercial purposes.

All chargers, including at all international Blink locations, are

categorized based on US Department of Energy guidelines.

allow customers to share electric vehicles through subscription and on-demand services.

With the goal of being a leader in the build-out of EV charging

infrastructure and maximizing our share of the EV charging market, we have established strategic commercial, municipal, and retail partnerships

across industry verticals and encompassing numerous transit/destination locations, including shopping centers, airports, auto dealers,

healthcare/medical, hotels, mixed-use facilities, municipal sites, multifamily residential, and condos, parks and recreation areas, parking

lots, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations.

May 2025, we announced the BlinkForward Initiative, a strategic restructuring plan, aimed at accelerating the Company’s path

to profitability and enhancing operational efficiency.

Key pillars of the BlinkForward Initiative were designed to transform the

Company into a more agile and lean organization.

This included a significant reduction in our global workforce from 513 to

approximately 320 as of the filing of this Annual Report, reductions in other operating, general and administrative expenses, and a

shift to contract manufacturing for our EV hardware, to reduce overhead expenses and focus on our intellectual property and customer

experience efforts.

The transition to contract manufacturing was completed in January 2026, and Blink no longer maintains

manufacturing facilities in-house.

Additionally, we focused on expansion of our DC Fast Charging (“DCFC”) network

through deployment of high-speed chargers in strategic, high-utilization locations.

As a part of this focus, we launched a capital

raise process and completed a $20 million funding round via the public markets in December 2025.

July 2025, Blink acquired Zemetric Inc and its subsidiaries (“Zemetric”) which filled identified gaps in our product line

related to software-driven fleet management and energy management services, and a lower-cost Level 2 charger hardware lineup.

the transaction, Harmeet Singh, Zemetric’s CEO, became Blink’s new Chief Technology Officer.

of December 31, 2025, there were approximately 66,350 chargers connected to the Blink Network.

Of those, approximately 58,850 were Level

2 commercial chargers and approximately 1,920 DCFC were commercial chargers, Included on Blink Network is approximately 8,250 chargers

Another estimated 23,450 units were non-networked, on other networks, international sales, or deployments, which includes

public and private chargers, net of swap-outs, replacement units, and decommissioned units.

Certain commercial chargers include chargers installed in residential settings for commercial purposes.

All chargers, including at all

international Blink locations, are categorized based on U.S.

Department of Energy guidelines.

an EV charging station leader, we understand our corporate social responsibility and remain steadfast in our commitment to fostering

3 unchanged sentences

Upholding sustainable

procurement, we intend to persist in aligning with partners who share our vision for societal advancement and uphold ethical business

procurement, we are actively aligning with partners who share our vision for societal advancement and uphold ethical business

As our technology advances, we are devoted to implementing recycling programs aimed at repurposing older products.

changes in the regulatory and incentive environments, the U.S.

EV market continues to progress maintaining momentum

in new car sales and adding vehicles to the overall installed base.

According to Cox Automotive’s Kelley Blue Book, sales of electric

vehicles in U.S., increased 15.2% in the fourth quarter of 2024 to 365,824 units, becoming the new quarterly record.

in the new EV sales market is also supported by the significant investments by auto Original Equipment Manufacturers (“OEMs”).

The Environmental Defense Fund reported on

January 8, 2025, that by the end of 2024, auto manufacturers announced $197.6 billion in investment in US EV battery manufacturing

facilities of the last decade.

The announced funding is for 229 distinct manufacturing investments at 208 different facilities.

has begun at 57 of those projects, which are supporting more than 50,000 jobs.

More than 100 projects were under construction, which

makes it a total of 69% of all projects are now showing of-the-ground results.

contributing factor to charging demand for EVs are sales of used vehicles.

According to the Bay State Banner, a Massachusetts publication,

used EV car sales in November 2024 alone grew 61.3% nationally.

This trend reflects positively on Blink as used EVs are increasingly

purchased by individuals who reside in multi-family dwellings and reply on public charging and on-site commercial charging for their

charging needs.

addition, we believe that advancements made in battery technologies are allowing EVs to achieve approximate cost parity with internal

combustion engine vehicles and will extend driving range and consumer confidence moving the market away from range anxiety toward range

confidence, creating further consumer demand.

For example, Chevrolet started selling an electric Equinox SUV model for under $35,000,

which makes it attractive for entry level buyers.

is expected to be a year of increasing numbers of EV models available and improved infrastructure to support them.

In 2024, many traditional

and new auto manufacturers have introduced new EV models such as the Hyundai Ioniq 5, Kia EV9, Hyundai Ioniq 6, Honda Prologue, Polestar

2, and Hyundai Kona Electric, Cadillac Vistiq, and others.

vehicle adoption continued to expand globally during 2025.

According to the Wedbush AutoTech Market Monitor (Q4 2025), approximately

25% of new vehicles sold globally in 2025 were electric, reflecting continued penetration across major automotive markets.

fast charging infrastructure expanded materially during 2025.

Paren, a specialized EV-charging data analytics platform that monitors

approximately 95% of all U.S.

DC fast-charging infrastructure in real time, reported in The Paren State of the U.S.

Fast Charging Industry

Report for Full Year 2025 that 18,041 new DC fast charging ports were added in the United States, representing approximately 30% year-over-year

Deployment activity accelerated throughout the year, with 5,769 ports added in the fourth quarter, the highest quarterly total

As of year-end 2025, the U.S.

had 70,007 public DC fast charging ports.

The majority of new deployments were funded by private

network operators, with NEVI-funded infrastructure representing approximately 3% of new ports added during 2025.

Average nationwide utilization

remained stable, with utilization averaging 16.4% in the fourth quarter of 2025, indicating that additional capacity was absorbed without

a material decline in utilization.

There is wide variation among states, and utilization remained highest in dense metropolitan areas

and along major travel corridors.

a global consultancy, estimated in its DC fast charging industry report at the end of 2023 (Can Public EV Fast-Charging Stations Be Profitable

in the United States?) that around 20% utilization is required for DC early economic viability and 25% - 30% utilization represents attractive

reliability improved during 2025.

Paren reported that most U.S.

states recorded average reliability levels in the low 90% range, reflecting

improvements in hardware performance and maintenance practices.

Reliability gains were supported by replacement of legacy equipment and

the deployment of newly installed ports with higher baseline performance.

technology continued to advance.

New public fast charging deployments increasingly shifted toward higher-power equipment.

Paren reported

that the share of newly deployed 250 kW and higher power ports increased throughout 2025, reaching 51% of new non-Tesla deployments in

the fourth quarter, while lower-power ports represented a declining share of new installations.

fast charging prices remained relatively stable during 2025.

Paren reported that average prices across most U.S.

states ranged between

$0.45 and $0.53 per kilowatt-hour.

Fixed per-kilowatt-hour pricing remained the predominant pricing model, accounting for approximately

80% of pricing structures nationwide.

While pricing varied by metropolitan area, particularly in higher-utilization markets, overall

pricing levels remained stable during the year.

industry data indicate that the electric vehicle charging sector continued to scale during 2025, characterized by increased infrastructure

deployment, rising charging demand, improving reliability, higher-power charging capabilities, and stable pricing.

EV Charging Solutions

2 unchanged sentences

We offer a wide range of Level 2 (AC) EV charging equipment, ideal for commercial

and residential use, with the North American universal J1772 connector, the North American

Charging Standard (NACS) connector, and the Type 2 connector compatible with electric vehicles

in Europe and across Latin America.

commercial Level 2 chargers consist of the EQ, MQ, and the Series 6, 7, and 8 families, which

are available in pedestal, wall mount, and pole mount configurations.

The MQ along with the

Series 6, 7, and 8 chargers offer an optional cable management system.

Additionally, we offer

three residential Level 2 chargers for the Americas:

the wall-mounted HQ 200, and

a smart charging cable, the PQ 150, designed for European markets.

Our commercial and residential

chargers can all connect to the Blink Networks for a wide range of software solutions.

2 charging stations typically provide a full charge in five to ten hours.

Level 2 chargers

are ideally suited for low-cost installations and frequently used parking locations, such

as workplaces, multifamily residential, retail, hospitality, and mixed-use, parking garages,

municipalities, colleges/schools, hospitals and airports.

and residential use, with the North American Standard J1772 connector, the North American

Charging Standard (“NACS”) connector, and the Type 2 connector compatible with EVs in Europe,

Our commercial

Level 2 chargers consist of the EQ (Europe & the UK), and the Series 7, 8, and 10 families (North America), which are available

in pedestal, wall mount, and pole mount configurations.

As a result of the Zemetric acquisition by Blink, we now have a next

generation, intelligent and flexible Level 2 charger, the Shasta , that was built with ISO 15118 readiness (enabling

“Plug & Charge” functionality) and high interoperability, allowing it to work seamlessly across different network

The Series 7, 8, and 10 families and the Shasta chargers offer an optional cable management system.

Our chargers can all

connect to the Blink Network for a wide range of software solutions.

Level 2 charging stations typically provide a full charge in

five to ten hours.

Level 2 chargers are ideally suited for low-cost installations and are frequently used in parking

locations, such as workplaces, multifamily residential, retail, hospitality, and mixed-use, parking garages, such as those operated

by municipalities, universities/schools, hospitals and airports.

● International

2 unchanged sentences

hospitality, and other locations.

These products are available with the Type 2, GBT, and

CCS 2 connectors and include the PQ 150, Series 3 (an ideal product for the 2/3-wheeled vehicles),

and the EQ 200.

We offer the HQ 200-M Level 2 charger for the mobile/emergency charging market

which requires a portable charger to be used for roadside or other use cases where a connection

to the electricity grid is not available.

We offer a complete line of DC Fast

Charging equipment (“DCFC”) that ranges from 30kW to 600kW, supports the ‘CHAdeMo’, CCS1, and NACS connectors,

and typically provide an 80% charge in less than 30 minutes.

Installation of DCFC stations and grid requirements are typically greater

than Level 2 charging stations and are ideally suited for dense metropolitan areas and locations between long distance travel destinations.

include the Series 9 40kW DC Fast Charger that works ideally for the fleet, auto dealership, and retail segments and is available

in wall and pedestal mount configurations, the Blink 60kW-360kW All-in-One DC Fast Chargers, and Distributed Cabinet and Dispenser DC

Fast Chargers up to 600kW.

The Blink Network is a cloud-based platform that manages our network of EV chargers

around the world for remote monitoring, management, payment processing, customer support,

load management, roaming, and other features required for operating the Blink Networks of

EV charging locations.

These products are available with the Type 2, GBT,

and CCS2 connectors and include the EQ 200 and other third-party hardware sourced based on

the Company’s specific requirements.

offer a complete line of DCFC equipment that ranges from

30kW to 600kW, supporting the NACS, CCS1, and ‘CHAdeMo’ connectors, and

typically can provide an 80% charge in less than 30 minutes.

Installation of DCFC stations and

grid requirements are typically greater than Level 2 charging stations and are ideally suited

for dense metropolitan areas and locations between long distance travel destinations.

include our 30kW-360kW All-In One DC Fast Chargers, and Distributed Cabinet and Dispenser

DC Fast Chargers up to 600kW.

The Blink Network is a cloud-based software platform that manages our network

of EV chargers around the world for remote monitoring, management, pricing, payment processing,

customer support, load management, roaming, data reporting, and other features.

Charging Mobile App .

We offer Blink Charging Mobile Apps (iOS and Android) that provide

EV drivers control by giving them improved search capabilities which allows them to search

for nearby amenities, as well as chargers by zip-codes, city, business, category, or address,

and expanded keyword search.

The app also includes payment functionality, eliminating the

need for a credit card.

We offer Fleet Management applications, targeted at commercial, municipal,

and federal fleets for planning, managing, and optimizing their departure schedules and energy

Our Fleet Management applications can be used as standalone tools or integrated into

existing fleet management solutions, which allows Blink to be a flexible and value-added

solution within existing software stacks.

We offer Blink Charging Mobile Apps (iOS and Android) that

provide convenience for EV drivers by allowing them to search for nearby chargers and amenities.

The app also includes charger information like speed and availability and incorporates payment

functionality, eliminating the need for a credit card.

Management Systems .

We offer Energy Management Systems (“EMS”) to fleets to optimize their

energy costs.

Our EMS solution can be integrated into existing charger and fleet management

solutions, which allows Blink to be a flexible and value-added solution within existing software

Advantages/Operational Strengths

2 unchanged sentences

Property Partners across numerous transit/destination locations, including airports, car dealers, healthcare/medical, hotels,

mixed-use facilities, municipal locations, multifamily residential and condo, parks and recreation areas, parking lots, restaurants,

retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations.

Property Partners include

well-recognized companies, large municipalities and local businesses.

Representative examples include the City of Miami Beach, City

of Chula Vista, City of Phoenix, City of Portland, City of Knoxville, City of San Antonio, City of Leeds (UK), University of San

Diego, City of San Diego, Ohlone College, ACE Parking, Q-Park, Icon Parking, SP+ Parking, iPark, LAZ Parking, Reef Parking, Federal

Realty, Equity Residential, Related Group, Johnson & Johnson, Kaiser Permanente, Blessing Healthcare, Sony Pictures

Entertainment, Starbucks, JBG Associates, Kroger Company, Fred Meyer Stores, Inc., Fry’s Food & Drug, Inc., Raising

Cane’s, McDonald’s, Carl’s Jr., Burger King, Walgreens and Ralphs Grocery Company.

We continue to generate new

contracts with Property Partners that previously secured our services independently or had contracts with the EV service providers

that we acquired in the past.

Integrated Supply Chain, Engineering and Manufacturing.

We are a fully vertically

integrated charging equipment and software provider, among the few in the world.

We believe this strategy provides multiple benefits

among which are the bottom-up approach to design and engineering, compliance with “Buy American” hardware requirements, controlling

the supply chain timing and costs, ensuring adequate levels of inventory in constrained markets, and ability to capture the manufacturing

margin in a high-demand environment.

mixed-use facilities, municipal locations, multifamily residential, and condo, parks and recreation areas, parking lots, religious

institutions, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace

Property Partners include well-recognized companies, large municipalities, government entities and local businesses.

continue to generate new contracts with Property Partners that previously secured our services independently or had contracts with

the EV service providers that we acquired in the past.

integrated platform and IP, with outsourced manufacturing.

We are a vertically integrated charging equipment and software

provider from design through network operations, and we leverage contract manufacturing partners for hardware production.

allows us to control product roadmap, software, and customer experience, while reducing fixed overhead and focusing on our

intellectual property and operational uptime.

Differentiated

but Flexible Business Models.

We own, operate and supply proprietary electric vehicle charging equipment and networked EV charging

We believe that our ability to provide various business models, including a comprehensive turnkey solution, to Property Partners

and leverage our technology to meet both Property Partners’ and EV drivers’ needs provides us a competitive advantage in

addition to more compelling long-term growth opportunities than possible through equipment sales only.

We own, operate and supply proprietary electric vehicle charging equipment and networked EV

charging services.

We believe that our ability to provide various business models, and to leverage our proprietary technology to

meet both Property Partners’ and EV drivers’ needs, is creating a competitive advantage for Blink, which will enhance access to long-term growth opportunities at profitable margins, in the markets where we operate.

and Control of EV Charging Stations and Services.

Ownership of EV charging stations and services allows us to control the

settings and pricing for our EV charging services, service the equipment as necessary, and have more effective brand management and price

As for those stations that we do not own, we are using our best efforts to encourage their owners to keep the stations operating

in good order and, in some cases, to replace faulty stations with our new charging station equipment.

We own and operate a considerable percentage of our charging stations, which

is a significant differentiation between us and some of our primary competitors.

This owner-operator model allows us to control the settings

and pricing for our EV charging services, service the equipment as necessary, and have more effective brand management and price uniformity.

For stations that we do not own, we are making our best efforts to encourage owners to keep the stations operating in good order and,

in some cases, to replace faulty stations with our new charging station equipment.

Growth Strategy

objective is to continue becoming a leading provider of EV charging solutions by deploying mass-scale EV charging

infrastructure.

objective is to continue to grow as a vertically integrated and leading provider of EV charging solutions by deploying EV charging

infrastructure at mass scale.

By doing so, we aim to enable the accelerated growth of EV adoption and the EV industry.

Key elements of our growth strategy

Key elements of our growth

strategy include:

Focus on Customer Satisfaction.

2 unchanged sentences

This entails prioritizing charger

uptime and availability while expanding and enhancing the EV charging infrastructure within

densely populated regions of high demand.

Furthermore, we are committed to optimizing the

productivity and utilization of existing EV charging stations, as well as enhancing the key

features of our EV charging station hardware and Blink Networks.

are equally focused on analyzing our network uptime and reliability and dedicating resources to maintaining network uptime.

uptime and availability while expanding and enhancing EV charging infrastructure within densely

populated regions of high demand.

We are committed to optimizing the productivity and utilization

of existing EV charging stations, as well as enhancing the key features of our EV charging

station hardware and Blink Network.

Strategic Opportunities to Expand Blink-Owned Turnkey and Hybrid Models.

structured our business to identify and pursue opportunities to develop Blink’s owner

and operator business model with locations that have potential of high utilization, where

and operator business model with locations that have potential for high utilization, where

grant or rebate funds are available, and where we can realize long-term benefit for the EV

charging location to establish long-term recurring revenue in the US, European Union, and UK.

charging location and anchor recurring revenue.

to Invest in Technology Innovations .

We continue to enhance the product offerings available in our EV charging

hardware, cloud-based software, and networking capability in the US and International.

Our Networks can serve a wide variety of EV equipment,

languages, currencies, and applications, allowing Blink to stay competitive in the fast-moving EV charging landscape.

Concurrently, the

mobile app creates a seamless driver charging experience across the globe.

Our software implementation allows us to remain technology

agnostic to enable the onboarding of OCPP compliant equipment from other manufacturers onto our newly designed network.

We continue to enhance product offerings available

in our EV charging hardware, cloud-based software, and networking capability in the U.S.

and internationally.

Our Networks can serve a wide variety of EV equipment, languages, currencies,

and applications, allowing Blink to stay competitive in the fast-moving EV charging landscape.

Concurrently, the mobile app creates seamless driver charging experience.

Our software implementation allows us to remain technology agnostic to enable the onboarding

of Open Charge Point Protocol (“OCPP”) compliant equipment from other manufacturers onto our network.

and Support our Human Capital.

1 unchanged sentence

our most valuable resources.

Attracting, training, and retaining key personnel has been and

will remain critical to our success.

To achieve our human capital goals, we intend to stay

focused on providing our personnel with entrepreneurial opportunities to expand our business

within their areas of expertise.

We will also continue to provide our personnel with personal

and professional growth opportunities, including additional training, performance-based incentives

such as opportunities for stock ownership, and other competitive benefits.

Attracting, training, and retaining key personnel has been and will remain critical to our success.

To achieve our human capital goals,

we intend to stay focused on providing our personnel with entrepreneurial opportunities to expand our business within their areas of

We will also continue to provide our personnel with personal and professional growth opportunities, including additional training,

performance-based incentives such as opportunities for stock ownership, and other competitive benefits.

Sales and Marketing Resources.

intend to invest in sales and marketing infrastructure to capitalize on market growth and

expand our go-to-market strategy while maintaining a disciplined approach to expenses.

we use a direct sales force, as well as maintaining relationships with notable resellers

and electrical equipment distributors.

We intend to further invest in sales and marketing infrastructure

to capitalize on market growth and expand our go-to-market strategy while maintaining a disciplined

approach to expenses.

We use a direct sales force, as well as maintaining relationships

with notable reseller partners and electrical equipment distributors.

Strategic Acquisition Opportunities.

2 unchanged sentences

expeditiously expand our footprint of EV charging station locations, product offerings, and

enhance our Blink Network.

Blink Network’s reach.

Our Early Mover Advantage.

We continue to leverage our extensive and defendable first-mover

We continue to leverage our extensive and defendable early-mover

advantage and the digital customer experience we have created for both EV drivers and Property

We believe that hundreds of thousands of Blink driver registrants appreciate the

value of transacting charging sessions on established robust networks.

Blink chargers are

primarily deployed throughout the United States, Europe, Mexico, and Central America.

commonly exhibit a preference for remaining with a single, cohesive network.

Our established network, scale, and software platform enable drivers to transact

charging sessions across a single, cohesive network.

Blink chargers are deployed across North

America, mainland Europe, and the United Kingdom, providing broad geographic coverage and

reinforcing network effects that support continued driver engagement and partner adoption.

● Appropriately

1 unchanged sentence

We continue to pursue new potential capital sources to deliver

critical operational objectives and the necessary resources to execute our overall strategy.

The EV charging industry, as a whole, is undercapitalized to deliver the full potential of

the expected EV market growth in the near future.

We expect to retain our leadership position

with new growth capital as required.

sales organization builds and maintains long-term business relationships with our customers by utilizing our three core business models.

These business models provide a high degree of flexibility to match host location goals and objectives for EV charging with our industry-leading

equipment and software solutions.

Our team identifies locations that have the potential to create long-term, recurring value for the

Property Partner and Blink.

Sales personnel are able to pivot to traditional equipment sales when, and if, a location is not identified

as a promising generator of future recurring revenues.

critical operational objectives and the necessary resources to execute our long-term growth

The EV charging industry, in general, is undercapitalized to deliver the full potential

of expected EV market growth.

We expect to retain our leadership position with new growth

capital as required.

sales organization builds and maintains long-term business relationships with our customers by utilizing our three core business

models, outlined above.

These business models provide a high degree of flexibility to match host location goals and objectives for

EV charging with our premier equipment and software solutions.

Our team identifies locations that have the potential to create

long-term, recurring value for the Property Partner and Blink.

Sales personnel can pivot to host-owned equipment sales , the

hybrid-ownership model or the charging-as-a-service models as a function of our evaluation of whether the location is as a promising

generator of future repeat and recurring revenues.

The team strives to maintain a balance between equipment sales that grow revenue

today, and site locations that have potential to generate strong revenues in the future under our owner-operator business models.

also engage with strategic electrical distributor and reseller partners across a range of vertical markets both within the U.S.

and globally.

today, and owner-operator sites at locations that have potential to generate strong repeat and recurring revenues in the future.

also engage with strategic distributor and reseller partners across a range of vertical markets within the US, mainland Europe, and the

These organizations typically have unique relationships or capabilities within their respective markets and provide Blink with additional

sales opportunities.

These partnerships amplify Blink’s sales reach and are authorized to sell our EV charging hardware, software

services (connectivity to the Blink Networks), and extended warranty service plans.

2024, we entered into agreements with new major customers, including the City of South Lake Tahoe, Alameda City, the City of Porterville,

the Fresno Unified School District, Imperial Center, the City of Fresno, New Castle County, Maryland Department of General Services,

Sonepar, CED, Similarly, in 2023, we entered into agreements with new major customers, including the United States Postal Service (“USPS”),

Mack Trucks, McArthurGlen, BluePoint, Mike Albert Fleet Solutions, Royal Farms, John Henry General Store, Moberly Motor Company, Arcos

Dorados (McDonald’s Puerto Rico), AAA, Allegiant Stadium (Las Vegas), Village of Tuckahoe (NY), Miami Beach (FL), Metropolitan

Government of Nashville-Davidson County, Salt Lake City International Airport, and others that expand our potential for unit sales and

sales opportunities and market coverage.

These partnerships amplify Blink’s sales reach and are authorized to sell our EV charging

hardware, software services (connectivity to the Blink Network), and extended warranty service plans.

2025, we continued diversifying our global footprint by securing agreements with new customers across public and private commercial sectors.

Our expansion into critical infrastructure, including major airport authorities, localities and cities, healthcare networks, and premium

commercial hubs, underscores the versatility of the Blink ecosystem and our ability to capture demand in both the municipal and private

commercial markets.

Along with these new business relationships, we forged critical strategic relationships with organizations that directly

or indirectly influence EV charging station purchase decisions.

in-house staff performs a variety of marketing activities.

Our marketing team works to promote and sell our services to a variety of

vertical markets, and directly to EV drivers.

We also utilize marketing and communication channels, including press releases, email marketing,

website (www.blinkcharging.com), pay-per-click advertising, social media marketing, webinars, sponsorships and partnerships, advertising

and conferences.

Our website’s information is not, and will not be deemed, a part of this Annual Report or incorporated into any

other filings we make with the SEC.

continue to invest in improving our company-owned stations’ service and maintenance and those stations with service and

maintenance plans and expanding our cloud-based network capabilities.

We anticipate continuing to grow our revenues by (i) selling

our next generation of EV charging equipment to current as well as to new Property Partners, which includes airports, auto dealers,

healthcare/medical, hotels, mixed-use facilities, municipal locations, multifamily residential and condos, parks and recreation areas, parking

lots, restaurants, retailers, schools and universities, supermarkets, transportation hubs, and workplace locations, (ii) expanding

our sales channels to wholesale distributors, utilities, OEMs, solar integrators, and dealers, which will include implementing EV

charging station occupancy fees (after charging is completed, fees for remaining connected to the charging station beyond an

allotted grace period) and subscription plans for EV drivers on our company-owned public charging locations, (iii) adding additional

charging stations in locations with increasing utilization metrics, (iv) offering the Blink Care maintenance program, and (v)

offering extended warranties for our chargers and services.

internal marketing team works to promote and sell our services to a variety of vertical markets, and directly to EV drivers.

utilize marketing and communication channels, including press releases, email marketing, website (www.blinkcharging.com), pay-per-click

advertising, social media marketing, webinars, sponsorships, and partnerships, advertising, and conferences.

Our website’s information

is not, and will not be deemed, a part of this Annual Report or incorporated into any other filings we make with the SEC.

anticipate continuing to grow our revenues by (i) selling our next generation of EV charging equipment to current as well as to new Property

Partners across a variety of vertical markets, (ii) expanding our sales channels to wholesale distributors, utilities, OEMs, solar integrators,

and dealers, which will include implementing EV charging station occupancy fees (after charging is completed, fees for remaining connected

to the charging station beyond an allotted grace period) and subscription plans for EV drivers on our company-owned public charging locations,

(iii) adding Blink owned and operated charging stations in locations with increasing utilization metrics, and (iv) offering maintenance

and extended warranty programs for our chargers and services.

Customers and Partners

have strategic partnerships across numerous transit/destination locations, including airports, auto dealers, healthcare/medical, hotels,

mixed use facilities and municipal locations, multifamily residential and condos, parks and recreation areas, parking lots, restaurants,

retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations.

We have hundreds of Property

Partners that include well recognized companies, large municipalities, and local businesses.

We strive to engage all Blink-owned turnkey

and hybrid property partners with exclusive EV charging contracts.

This strategy further supports our owner-operator model to generate

recurring revenue for both the Property Partner and Blink.

Representative examples are McDonald’s, Sony Pictures, Caltrans, Audi

of America, Porsche Design Tower, City of Azusa, City of Chula Vista, City of Springfield, City of Tucson, City of Fayetteville, BJ’s

Inc., Federal Realty, Fred Meyer Stores, Inc., Fry’s Food & Drug, Inc., Kana Hotel Group, Kroger Company, and Ralphs Grocery

We continue to establish new contracts with Property Partners that previously secured our services independently or had contracts

with the EV services providers that we acquired.

revenues are primarily derived from fees charged to EV drivers for EV charging in public locations, EV charging hardware sales, government

grants and sales of equipment warranties.

EV charging fees to drivers are based on an hourly rate, by energy dispensed per kilowatt-hour

(“kWh”), or by session.

Such fees are calculated based on various factors, including associated station costs and local electricity

EV charging hardware is sold to our customers engaged with our host-owned business model.

Other income sources from EV charging

services are network fees, extended warranty fees, membership fees, and payment processing fees paid by our Property Partners.

generates revenues from its EV car-sharing program through Envoy and BlueLA, which allow customers the ability to retain electric vehicles

through a subscription service.

are focused on profitable international expansion and have made significant progress at expanding our business across the globe, focusing

primarily on Europe, United Kingdom, and Latin America.

EV charging equipment and service market is highly competitive, and we expect the market to become increasingly competitive as new entrants

enter this growing market.

Our products and services compete on product performance and features, the total cost of ownership, sales

capabilities, financial stability, brand recognition, product reliability, and the installed base’s size.

Our existing competition

currently includes ChargePoint, which manufactures EV charging equipment and operates the ChargePoint Network, and EVgo,

which offers home and public charging with pay-as-you-go and subscription models.

Other entrants into the connected EV charging station

equipment market include Flo, Volta, Clipper Creek, StarCharge, Wallbox, Autel, and EV Connect.

We believe these additional

competitors struggle with gaining the necessary network traction but could gain momentum in the future.

While Tesla does offer EV charging

services, the connector type currently restricts the chargers to Tesla vehicles only in North America, which we believe will change as

a number of OEMs have announced transitioning to the North American Charging Standard (NACS) used by Tesla.

Many other EV charging companies

offer non-networked or “basic” chargers with limited customer leverage but could provide a low-cost solution for basic charger

needs in commercial and home locations.

competitive advantage in this market includes vertical integration and our exclusive, long-term contracts with our Property Partners

and flexible business models.

We offer our EV charging station equipment and provide access to a robust EV charging network.

have a full-time dedicated team to identify and process federal, state and international funding opportunities in the US, European

Union and UK for EV charging infrastructure development.

Grants for EV charging infrastructure drive sustainable mobility by

accelerating deployment, ensuring access, and supporting the transition to a zero-emission future.

We are committed to pursuing EV

charging development grant opportunities in all 50 states.

have strategic partnerships across numerous vertical market locations and have hundreds of Property Partners that include well-recognized

companies, large municipalities, and local businesses.

We strive to engage all Blink-owned turnkey and hybrid property partners with

exclusive EV charging contracts.

This strategy further supports our owner-operator model to generate repeat and recurring revenue for Blink.

We continue to establish new contracts with Property Partners that previously secured our services

independently or had prior contracts with EV service providers that Blink has acquired.

revenues are primarily derived from fees charged to EV drivers for EV charging in public locations, EV charging hardware sales, Blink

Network fees, and sales of equipment warranties.

EV charging fees to drivers are generally based on an hourly rate, by energy dispensed

per kilowatt-hour (“kWh”), and/or by session.

Such fees are calculated based on various factors, including associated station

costs, competitive activities, and local electricity tariffs.

EV charging hardware is sold to our customers engaged with our host-owned

business model.

Additionally, we generate revenues from our EV car-sharing program through Envoy, which allows customers the ability

to retain electric vehicles through a subscription service.

are focused on profitable international expansion and have made significant progress at expanding our business outside of North America,

focusing primarily on mainland Europe and the United Kingdom.

EV charging equipment and service market is highly competitive, and we expect the market to become increasingly competitive as new

entrants enter this growing market.

Our products and services generally compete on product performance and features, the total cost

of ownership, quality of customer experience, sales capabilities, financial stability, brand recognition, product reliability, and

the installed base’s size.

Notable competitors in the US currently include ChargePoint, which manufactures EV charging

equipment and operates the ChargePoint Network, EVgo and Electrify America, who offer high-speed DC fast public charging with

pay-as-you-go and subscription models, and Tesla.

Other companies include Loop, Swtch, Flo, Clipper Creek, StarCharge, Wallbox,

Autel, and EV Connect.

Many other EV charging companies offer non-networked or “basic” chargers with limited customer

leverage but could provide a low-cost solution for basic charger needs in commercial and home locations.

continue to differentiate ourselves through a flexible, multi-industry approach bridging the gap between essential public

infrastructure and private commercial hubs.

By offering various deployment configurations, from direct sales to our Owner-Operator

and Hybrid models, we aim to provide the right solution at the right price for our customers.

This vertical integration ensures that

we don’t just sell a product;

we own the charging experience.

We believe that this “owner-operator”

differentiation de-risks our partners’ investment while securing Blink’s position in the global EV

have a dedicated team that identifies and pursues federal, state and international funding opportunities in the US, mainland Europe

and the UK for EV charging infrastructure development.

Grants for EV charging infrastructure accelerate the deployment of EV

charging infrastructure at the scale needed to accompany the rapid growth in the percentage of EVs in vehicle fleets in the markets in which we operate.

We are committed to pursuing EV charging development grant

opportunities in all U.S.

states where they are available.

Funding sources in the U.S.

include the Department of Energy, Department

of Transportation, Department of Agriculture, the VW mitigation settlement trust fund, funding initiatives from utility service

providers and various state and local jurisdictions.

Blink has recently completed grant projects in Maryland, New Jersey, Florida

and Delaware increasing our DCFC footprint throughout the East Coast;

with additional projects slated for deployment in 2025.

Europe, we have a significant presence both in the European Union and the United Kingdom through our acquisitions of Blue Corner and

Electric Blue.

Our staff in Europe has significant experience in applying and taking advantage of various European jurisdictions

incentives and rebate.

include the Department of Energy, Department of Transportation,

Department of Agriculture, the VW mitigation settlement trust fund, funding initiatives from utility service providers and various

state, and local jurisdictions.

Blink has recently completed grant projects in Maryland, Illinois, New Jersey, Florida, and

Delaware, increasing our DCFC footprint throughout the East Coast and Midwest, with additional projects slated for deployment in

2026 and beyond.

Related to Climate Change

March 21, 2022, the Securities and Exchange Commission (“SEC”) proposed rules mandating climate-related disclosures in

companies’ annual reports and registration statements.

While the SEC subsequently issued an order staying the rules, the

proposed rules contemplate, if ultimately adopted, phase-in periods based on SEC filer status, with extended phase-in periods for

Scope 3 disclosures and third-party attestation requirements.

On March 6, 2024, the SEC adopted rules mandating climate-related

disclosures in companies’ annual reports and registration statements.

However, these rules are currently on hold due to legal

Under the direction and supervision of senior management and with board oversight, our Environmental, Social, and

Governance (“ESG”) Committee has initiated a process to implement and maintain compliance with the SEC’s and

European Union’s climate disclosure requirements, pending the resolution of these legal challenges.

March 2024, the SEC adopted rules mandating disclosure of climate-related risks and greenhouse gas emissions in companies’ annual

reports and registration statements, with compliance requirements phased in beginning with fiscal year 2025 filings for certain registrants.

In April 2024, the SEC stayed the rules’ effectiveness pending judicial review.

In March 2025, the SEC voted to formally withdraw

its legal defense of the rules, and they remain stayed pending the outcome of the judicial proceedings.

and Data Security Laws

3 unchanged sentences

privacy and data security laws and regulations which impose significant compliance obligations.

European Union’s General Data Protection Regulation (“GDPR”), which is wide-ranging in scope, imposes several requirements

relating to a variety of matters, including the control over personal data by individuals to whom the personal data relates, the information

provided to the individuals, the documentation we must maintain, the security and confidentiality of the personal data, data breach notification,

and the use of third-party processors in connection with the processing of personal data.

The GDPR also imposes strict rules on the transfer

of personal data outside of the European Union (“EU”), provides an enforcement authority, and authorizes the imposition of

large penalties for noncompliance, including the potential for significant fines.

The GDPR requirements apply not only to third-party

transactions, but also to transfers of information between Blink Charging and its subsidiaries, including employee information.

has increased our responsibility and potential liability in relation to all types of personal data that we process and we may be required

to put in place additional mechanisms to ensure compliance with the GDPR, which could divert management’s attention and increase

its cost of doing business, and despite our ongoing efforts to bring its practices into compliance with the GDPR, it may not be successful.

European Union’s General Data Protection Regulation (“GDPR”) is a comprehensive data privacy law that came into

effect in May 2018.

It is wide-ranging in scope, and imposes several requirements relating to the control over personal data by

individuals to whom the personal data relates, the information provided to the individuals, the documentation we must maintain, the

security and confidentiality of the personal data, requirements around data breach and notification, and the use of third-party

processors in connection with the processing of personal data.

The GDPR also imposes strict rules on the transfer of personal data

outside of the European Union (“EU”), provides enforcement authority, and authorizes the imposition of large penalties

for noncompliance, including the potential for significant fines.

The GDPR requirements apply not only to third-party transactions,

but also to transfers of information between Blink Charging and its subsidiaries, including employee information.

increased our responsibility and potential liability in relation to all types of personal data that we process and we may be

required to put in place additional mechanisms to ensure compliance with the GDPR, which could divert management’s attention

and increase its cost of doing business, and despite our ongoing efforts to bring our practices into compliance with the GDPR, we

may not always be successful.

Additionally,

we are governed by a California state privacy law called the California Consumer Privacy Act of 2018 (“CCPA”), which contains

requirements similar to GDPR for the handling of personal information of California residents.

The CCPA establishes a privacy framework

for covered businesses, including an expansive definition of personal information and data privacy rights for California residents.

CCPA includes a framework with potentially severe statutory damages and private rights of action.

The CCPA requires covered companies

to provide new disclosures to California consumers (as that word is broadly defined in the CCPA), and new ways for such consumers to

opt out of certain sales of personal information, and to allow for a new cause of action for data breaches.

Further, California voters

approved a new privacy law, the California Privacy Rights Act (“CPRA”) in November 2020.

Effective starting on January 1,

2023, the CPRA significantly modifies the CCPA, including by expanding the consumers’ rights with respect to certain sensitive

personal information.

The CPRA also creates a new state agency, the California Privacy Protection Agency (CPPA), that is vested with

authority to implement and enforce the CCPA and the CPRA.

In addition to the CPRA, several other states have passed or are in the process

of passing comprehensive data privacy laws, including the Virginia Consumer Data Protection Act (VCDPA), the Colorado Privacy Act (CPA),

the Connecticut Data Privacy Act (CTDPA), and the Utah Consumer Privacy Act (UCPA).

The Virginia law

became effective on January 1, 2023;

we are governed by a California state privacy law called the California Consumer Privacy Act of 2018 (“CCPA”), which

contains requirements similar to those to the GDPR for the handling of personal information for California residents.

establishes a privacy framework for covered businesses, including an expansive definition of personal information and data privacy

rights for California residents.

The CCPA includes a framework with potentially severe statutory damages and private rights of

The CCPA requires covered companies to provide new disclosures to California consumers (as that word is broadly defined in

the CCPA), and new ways for such consumers to opt out of certain sales of personal information, and to allow for a new cause of

action for data breaches.

Further, California voters approved a new privacy law, the California Privacy Rights Act

(“CPRA”) in November 2020.

Effective starting on January 1, 2023, the CPRA significantly modifies the CCPA, including by

expanding the consumers’ rights with respect to certain sensitive personal information.

The CPRA also creates a new state

agency, the California Privacy Protection Agency (“CPPA”), that is vested with authority to implement and enforce the CCPA and the

More recently, several other states have passed or are in the process of passing comprehensive data privacy laws,

including the Virginia Consumer Data Protection Act (“VCDPA”), the Colorado Privacy Act (“CPA”), the Connecticut Data Privacy Act

(“CTDPA”), and the Utah Consumer Privacy Act (“UCPA”).

The Virginia law became effective on January 1,

the Colorado law became effective on July 1, 2023;

and the Connecticut law became effective on July 1, 2023.

The Utah Privacy Act came into force on December 1, 2023 , and there are expected legislative changes in other states

as well, shaping the evolving national data privacy landscape.

GDPR, CCPA, CPRA, VCDPA, CPA, CTDPA and UCPA exemplify the vulnerability of our business to the evolving regulatory environment related

The Utah Privacy

Act came into force on December 31, 2023 , and there are expected legislative changes in other states as well, shaping the

evolving national data privacy landscape.

GDPR, CCPA, CPRA, VCDPA, CPA, CTDPA and UCPA exemplify the exposure of our business to the evolving regulatory environment related

to personal data.

Our compliance costs and potential liability may increase as a result of additional national and international regulatory

requirements related to data privacy and data security.

We are currently subject, and/or may in the future be subject, to numerous privacy

and data security laws.

For example, some U.S.

states, members of the European Economic Area, the United Kingdom, and many other jurisdictions

in which we operate have adopted or are in the process of adopting privacy and data security laws and regulations which impose significant

compliance obligations.

Our compliance costs and potential liability may increase as a result of such additional regulatory requirements related to data privacy and data security.

states, members of the

European Economic Area, the United Kingdom, and many other jurisdictions in which we operate have adopted or are in the process of

adopting privacy and data security laws and regulations which impose significant compliance obligations.

Environmental,

3 unchanged sentences

and human trafficking by our suppliers.

We believe that sound corporate governance is critical to helping us achieve our goals, including

with respect to ESG.

We are focused on further enhancing sustainability of operations and continue to evolve a governance framework that

exercises appropriate oversight of responsibilities at all levels throughout the company.

Our board-level ESG Committee, with active

management participation, will oversee ESG initiatives and priorities.

Regulation and Incentives

regional and local regulations for installing EV charging stations vary from jurisdiction to jurisdiction and may include permitting

requirements, inspection requirements, licensing of contractors, and certifications.

regional and local regulations for installing EV charging stations vary by jurisdiction and may include requirements around permitting, inspection, licensing, and certifications.

Compliance with such regulations may cause installation

intend to continue to vigorously seek additional grants, loans, rebates, subsidies, and incentives as cost-effective means of reducing

our capital investment in the promotion, purchase and installation of charging stations where applicable.

We expect these incentives,

rebates, and tax credits to be important for our future growth.

Additionally, some incentives are currently offered to encourage electric

vehicle adoption at the federal, state and local levels.

The Federal Government provides a personal income tax credit for qualified buyers

of plug-in electric vehicles, with a maximum of $7,500, depending on vehicle weight and battery capacity, income levels, and battery

sourcing origin.

States such as California, Colorado, Delaware, Maryland, Massachusetts, New York, and Rhode Island offer various rebates,

grants, and tax credits to incentivize EV and EVSE purchases.

a Conditionally Exempt Small Quantity Generator (“CESQG”), we generate a limited quantity of hazardous waste, mainly solvent

contaminated wipes, which are transported to local solid waste facilities.

Scrapped electronic boards are transported to a local recycler.

A CESQG of hazardous waste is defined as a generator that:

no more than 100 kg (220 lbs.) of hazardous waste per calendar month;

no more than 1 kg (2.2 lbs.) of acute hazardous waste per calendar month;

accumulates more than 1,000 kg (2,204 lbs.) of hazardous waste at any one time;

accumulates more than 1 kg (2.2 lbs.) of acute hazardous waste at any one time.

use of our machinery and equipment must comply with the following applicable laws and regulations, including safety and environmental

Safety for All Employees – Includes health hazard communication, emergency exit plans,

electrical safety-related work practices, office safety, and hand-powered tools.

● Technicians

and Engineers – Only authorized persons (technicians and engineers) perform product

testing and repair in the facility’s production and engineering areas, including those

engineers involved in field service work.

Regulations include control of hazardous energy

and personal protective equipment.

● Logisticians

– Includes forklift operations performed only by certified shipping/receiving personnel

and material handling and storage.

fully comply with the general industry category’s environmental regulations applicable to us as a CESQG.

intend to continue to vigorously seek incentives such as government grants, loans, rebates, and subsidies, as

cost-effective means of reducing our capital investment in the promotion, purchase and installation of charging stations where

incentives are currently offered to encourage electric vehicle adoption at the federal, state and local levels.

are subject to the Occupational Safety and Health Act of 1970, as amended (“OSHA”).

16 unchanged sentences

hazardous substances may have been released or disposed.

For instance, Comprehensive Environmental Response, Compensation, and

Liability Act (“CERCLA”), also known as the Superfund law, in the United States and comparable state laws impose liability,

without regard to fault or the legality of the original conduct, on certain classes of persons that contributed to the release of a

hazardous substance into the environment.

These persons include current and prior owners or operators of the site where the release

occurred as well as companies that disposed of or arranged for the disposal of hazardous substances found at the site.

Under CERCLA,

these persons may be subject to joint and several strict liability for the costs of cleaning up the hazardous substances that have

been released into the environment, for damages to natural resources and for the costs of certain health studies.

authorizes the EPA and, in some instances, third parties to act in response to threats to the public health or the environment and

to seek to recover from the responsible classes of persons the costs they incur.

We may handle hazardous substances within the

meaning of CERCLA, or similar state statutes, in the course of ordinary operations and, as a result, may be jointly and severally

liable under CERCLA for all or part of the costs required to clean up sites at which these hazardous substances have been released

into the environment.

For instance, the Comprehensive Environmental Response, Compensation, and

Liability Act (“CERCLA”), also known as the Superfund law, in the United States and comparable state laws impose

liability, without regard to fault or the legality of the original conduct, on certain classes of persons that contributed to the

release of a hazardous substance into the environment.

These persons include current and prior owners or operators of the site where

the release occurred as well as companies that disposed of or arranged for the disposal of hazardous substances found at the site.

Under CERCLA, these persons may be subject to joint and several strict liability for the costs of cleaning up the hazardous

substances that have been released into the environment, for damages to natural resources and for the costs of certain health

CERCLA also authorizes the EPA and, in some instances, third parties to act in response to threats to the public health or

the environment and to seek to recover from the responsible classes of persons the costs they imposed.

We may handle hazardous

substances within the meaning of CERCLA, or similar state statutes, in the course of ordinary operations and, as a result, may be

jointly and severally liable under CERCLA for all or part of the costs required to clean up sites at which these hazardous

substances have been released into the environment.

also generate solid wastes, which may include hazardous wastes that are subject to the requirements of the Resource Conservation and

Recovery Act (“RCRA”) and comparable state statutes.

While RCRA regulates both solid and hazardous wastes, it imposes strict

requirements on the generation, storage, treatment, transportation, and disposal of hazardous wastes.

Certain components of our products

are excluded from RCRA’s hazardous waste regulations, provided certain requirements are met.

However, if these components do not

meet all the established requirements for the exclusion, or if the requirements for the exclusion change, we may be required to treat

such products as hazardous waste, which are subject to more rigorous and costly disposal requirements.

Any such changes in the laws and

regulations, or our ability to qualify the materials it uses for exclusions under such laws and regulations, could adversely affect our

operating expenses.

Similar laws exist in other jurisdictions where we operate.

Additionally, in the EU, we are subject to the Waste

Electrical and Electronic Equipment Directive (“WEEE Directive”).

The WEEE Directive provides for the creation of a collection

scheme where consumers return waste electrical and electronic equipment to merchants, such as Blink Charging.

If we fail to properly manage

such waste electrical and electronic equipment, it may be subject to fines, sanctions, or other actions that may have an adverse effect

on our financial operations .

While RCRA regulates both solid and hazardous wastes, it imposes

strict requirements on the generation, storage, treatment, transportation, and disposal of hazardous wastes.

Certain components of

our products are excluded from RCRA’s hazardous waste regulations, provided certain requirements are met (as detailed in the

section “CESQG,” below).

However, if these components do not meet all the established requirements for the exclusion, or

if the requirements for the exclusion change, we may be required to treat such products as hazardous waste, which are subject to

more rigorous and costly disposal requirements.

Any such changes in the laws and regulations, or our ability to qualify the

materials it uses for exclusions under such laws and regulations, could adversely affect our operating expenses.

laws exist in other jurisdictions where we operate.

Additionally, in the EU, we are subject to the Waste Electrical and Electronic Equipment

Directive (“WEEE Directive”).

The WEEE Directive provides for the creation of a collection scheme where consumers return

waste electrical and electronic equipment to merchants, such as Blink Charging.

If we fail to properly manage such waste electrical and

electronic equipment, it may be subject to fines, sanctions, or other actions that may adversely affect on our financial operations.

a Conditionally Exempt Small Quantity Generator (“CESQG”), we generate a limited quantity of hazardous waste, mainly solvent

contaminated wipes, which are transported to local solid waste facilities.

Scrapped electronic boards are transported to a local recycler.

A CESQG of hazardous waste is defined as a generator that:

no more than 100 kg (220 lbs.) of hazardous waste per calendar month;

no more than 1 kg (2.2 lbs.) of acute hazardous waste per calendar month;

accumulates more than 1,000 kg (2,204 lbs.) of hazardous waste at any one time;

accumulates more than 1 kg (2.2 lbs.) of acute hazardous waste at any one time.

use of our machinery and equipment must comply with the following applicable laws and regulations, including safety and environmental

Safety for All Employees – Includes health hazard communication, emergency exit plans,

electrical safety-related work practices, office safety, and hand-powered tools.

● Technicians

and Engineers – Only authorized persons (technicians and engineers) perform product

testing and repair in the facility’s production and engineering areas, including those

engineers involved in field service work.

Regulations include control of hazardous energy sources and the use of personal protective equipment.

● Logisticians

– Includes forklift operations performed only by certified shipping/receiving personnel

and material handling and storage.

fully comply with the general industry category’s environmental regulations applicable to us as a CESQG.

rely on a combination of patent, trademark, copyright, unfair competition and trade secret laws, as well as confidentiality procedures

3 unchanged sentences

of others, and to prevent others from infringing our proprietary rights.

relate to various EV charging station designs.

We intend to regularly assess opportunities for seeking patent protection for those aspects

of our technology, designs, and methodologies that we believe provide a meaningful competitive advantage.

If we cannot do so, our ability

to protect our intellectual property or prevent others from infringing our proprietary rights may be impaired.

patents relate to various EV charging station designs.

We intend to regularly assess opportunities for seeking patent protection for

those aspects of our technology, designs, and methodologies that we believe provide a meaningful competitive advantage.

do so, our ability to protect our intellectual property or prevent others from infringing our proprietary rights may be impaired.

Capital Resources

1 unchanged sentence

retaining top talent.

As of December 31, 2024, we had 594 employees, including 542 full-time employees.

None of our employees are represented

by a union or covered by a collective bargaining agreement.

We have not experienced any work stoppages, and we consider our relationship

with our employees to be good.

As of December 31, 2025, we had 320 employees and contractors.

With exception of Belgium, none of our employees

are represented by a union or covered by a collective bargaining agreement.

employees in our Belgian entity are represented by a union in accordance with Belgian labor legislation.

Due to the size of the Belgian

company (at time of mandatory social elections) within the applicable joint committee, a union delegation (CPBW) was required and put

These employees are based in our Antwerp office.

have not experienced any work stoppages, and we consider our relationship with our employees to be good.

success is directly related to the satisfaction, growth, and development of our employees.

2 unchanged sentences

To achieve our human capital goals,

we intend to remain focused on providing our personnel with entrepreneurial opportunities to expand our business within their areas of

expertise and continue to provide our personnel with personal and professional growth.

We emphasize several measures and objectives in

managing our human capital assets, including, among others, employee safety and wellness, talent acquisition and retention, employee

engagement, development and training, diversity and inclusion, and compensation and pay equity.

we intend to remain focused on providing opportunities to expand our business within their areas of expertise and continue to provide

our personnel with opportunities for growth.

We emphasize several measures and objectives in managing our human capital assets, including,

among others, employee safety and wellness, talent acquisition and retention, employee engagement, development and training, diversity

and inclusion, and compensation and pay equity.

and Inclusion and Ethical Business Practices.

22 unchanged sentences

Our corporate governance documents, including our code of conduct and ethics, are also available on our website.

In this Annual Report on Form 10-K, we incorporate by reference as identified herein certain information from parts of our proxy statement

for our 2024 Annual Meeting of Stockholders, which we will file with the SEC and will be available, free of charge, on our website.

of our executive officers, directors, and any other persons required to file securities ownership reports under Section 16(a) of the

Exchange Act are also available on our website.

In this Annual Report, we incorporate by reference certain information as identified herein from parts of our proxy statement for our

2025 Annual Meeting of Stockholders, which we will file with the SEC and will be available, free of charge, on our website.

our executive officers, directors, and any other persons required to file securities ownership reports under Section 16(a) of the Exchange

Act are also available on our website.

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