What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2025-03-28 compared with 2024-04-01 · 284 added, 196 removed, 157 unchanged (75% of the section changed)

ChargePoint Holdings, Inc.

(“ChargePoint”) is a leading electric vehicle (“EV”) charging technology solutions provider.

ChargePoint is broadly driving the shift to electric mobility by providing networked charging solutions in North America and Europe across commercial (e.g., retail, workplace, hospitality, parking, recreation, municipal, education and highway fast charge), fleet (e.g., delivery, take home, logistics, motor pool, transit and shared mobility) and residential (e.g., single family homes and multi-family apartments and condominiums) verticals.

As of January 31, 2024, ChargePoint has activated approximately 286,000 ports on its network, including approximately 24,000 direct current, or “DC,” “fast charging” ports, excluding single family home ports.

ChargePoint’s roaming integrations enable EV drivers to access more than 631,000 additional third-party ports in North America and Europe through ChargePoint’s mobile and in-dash applications.

ChargePoint sells networked charging hardware, connected through cloud-based software services (“Cloud” or “Cloud Services”) and supported by extended parts and labor warranty solutions (“Assure”).

ChargePoint sells these solutions to commercial, fleet and residential customers to enable electrification, and has developed a strong network of channel partners and distributors to support its growth.

Historically, ChargePoint has not sold networked charging hardware without its software, typically does not own or operate EV charging assets, does not monetize drivers, and does not rely upon profits from the sale of electricity.

By pursuing this “capital light” business model, ChargePoint has been able to focus its investments on research and development of its diverse portfolio of networked Level 2, or alternating current (“AC”), and Level 3 DC fast charging hardware, and its software solutions for drivers, hosts and fleet operators, while simultaneously scaling active networked ports more cost efficiently as compared to other models in the EV industry, where the charging station operator, or “CPO,” deploys its capital to purchase, install and manage the charging stations, owns and operates the charging station and depends upon profits on the sale of electricity for its return on capital deployed.

Finally, ChargePoint believes its go-to-market strategy of ensuring site owners or CPOs have full control over branding, access, pricing and policies enables them to provide their employees and customers with a better charging experience.

ChargePoint’s networked charging solutions can charge most types of EVs—from cars, trucks and delivery vehicles to buses and 18-wheelers—regardless of manufacturer or connector type, most recently adding SAE J3400, formerly known as the North American Charging Standard or NACS, connector options to both commercial and home chargers.

ChargePoint supports all leading connector types and believes it will benefit directly and proportionately from the broad trend in vehicle electrification because the breadth of its solutions means it does not need to identify which vehicles will come to market first nor which segments or manufacturers will be successful.

ChargePoint has historically seen a correlation between new passenger EV sales in North America and its charging port growth in North America, which gives ChargePoint confidence in its growth prospects going forward as its verticals and geographic markets continue to go electric.

The ChargePoint Model and Network Effect for EV Fueling

ChargePoint believes fueling EVs is radically different from the current “gas station” model for fueling traditional gas-powered vehicles.

Passenger vehicles spend 95% of their time parked, and most fleet vehicles also have substantial “dwell time.” This driver behavior is the impetus behind ChargePoint’s deployment of AC chargers (for longer dwell-time sessions) in addition to DC fast charging ports (for shorter dwell-time sessions).

Unlike gasoline, electricity is pervasively and safely distributed, so fueling can shift to a model where vehicles charge where they are parked and while their drivers—individual or fleet—are engaged in other activities.

ChargePoint believes EV charging will principally transition from an inconvenient, dedicated fueling stop at a destination to convenient charging mapped to the dwell time, and for certain fleet applications, the size and route requirements, of the vehicle.

These factors in turn drive the selection of charging solutions, since DC ports are significantly more expensive than AC ports to purchase, install and operate due to the higher charging rate.

In short, ChargePoint believes customers want to choose the most cost-effective solutions for their vehicle charging applications, which can be AC or DC only or a blend, based on their specific needs.

ChargePoint has developed a comprehensive platform of AC and DC charging products, Cloud subscriptions, Assure warranty coverages and professional services designed to ensure it can cost effectively deliver the solutions that best meet the customer’s specific requirements.

From a network effect perspective, ChargePoint’s goals are ubiquity, accessibility, usability and reliability.

Charging infrastructure should be broadly distributed, easily found, easy to use and should always work.

ChargePoint believes its ports under management and roaming relationships support one of the largest and growing networks of EV charging infrastructures available.

Charging ports are easily located via ChargePoint’s mobile and in-dash applications, and ChargePoint’s networked hardware is easy to use through those applications and to manage via its Cloud Services provided to hosts.

And most importantly, ChargePoint’s networked hardware is designed for high uptime, monitored and managed through its Cloud application, and supported via its customer support organization and a large network of service partners.

These attributes and mobile and in-dash applications create a charging network that encourages hosts and drivers to expand with ChargePoint.

(“ChargePoint” or the “Company”) is a leading provider of electric vehicle (“EV”) charging technology solutions, driving the transition to electric mobility across North America and Europe.

ChargePoint’s vision is to create a seamless, ubiquitous, and accessible EV charging experience for all.

By meeting the needs of a rapidly growing EV market, ChargePoint enables its customers to reduce emissions, supports renewable energy integration, and promotes sustainable transportation.

ChargePoint powers over 342,000 “active” charging ports, which ChargePoint defines as ports that are running on ChargePoint software, serving more than 750,000 active EV drivers monthly.

EV drivers benefit from ChargePoint’s advanced mobile app and roaming partnerships, providing access to more than 1 million worldwide charging ports.

ChargePoint also enables charge point operators (“CPOs”) and electric mobility service providers to build custom EV charging networks and is trusted by over 60% of Fortune 500, and over 80% of Fortune 50 companies to meet their growing EV charging requirements, making it a vital enabler of the transition to electric mobility.

Passenger EV sales are expected to increase from 2.4% of new vehicles sold in 2020 to 81.1% in 2040 in the United States and from 12.2% of new vehicles sold in 2020 to 84.3% in 2040 in Europe, according to the Bloomberg New Energy Finance (“BNEF”) Long-Term Electric Vehicle Outlook 2024 report, released in June 2024.

This shift to vehicle electrification is propelled by additional factors, including existing and proposed fossil fuel bans or restrictions, transit electrification mandates and utility and government incentive programs.

Based on these trends, BNEF projects that the annual investment in EV charging infrastructure across North America and Europe is expected to increase from $3.8 billion in 2020 to $28.6 billion in 2040, for a cumulative investment of $485.6 billion over that period.

To meet the growing demand for EV infrastructure ChargePoint delivers comprehensive offerings spanning the entire EV charging ecosystem, providing charging hardware, software, and a variety of services for businesses, fleet operators, CPOs, and automakers to optimize their charging operations under their own brands.

ChargePoint serves commercial, fleet, and residential sectors with its diverse selection of networked charging systems including Level 2, alternating current (AC) and Level 3, direct current (DC) fast charging stations.

The ChargePoint Platform is comprised of ChargePoint’s charger management software (“CMS” or “CMS Service”), which is a cloud-based SaaS platform used by charging station owners to manage networked charging systems, and its “eMSP Service” solution, which is a collection of cloud delivered software capabilities, APIs and companion professional services to enable e-Mobility Service Providers to in turn deliver custom EV driver management and payment solutions.

ChargePoint’s networked charging systems and CMS are accompanied with a comprehensive services and support program, including an extended parts and labor warranty solutions called “Assure.”

The modular architecture of ChargePoint’s networked charging systems combined with its powerful, scalable and extensible ChargePoint Platform allows its customers to customize their charging networks to meet specific needs, whether for auto original equipment manufacturers (“OEMs”), private fleets, municipalities, workplaces, retail businesses or private networks.

ChargePoint’s hardware, software, and services are designed to scale alongside the EV ecosystem, serving the needs of three core customer groups:

CPOs, e-Mobility Service Providers, and EV drivers.

Charge Point Operators (CPOs)

ChargePoint enables CPOs to deploy, maintain, and operate EV charging stations.

CPOs can generate revenue directly through the sale of electricity or access fees charged to EV drivers, or indirectly by attracting drivers to their businesses where charging stations are located.

ChargePoint’s industry-leading products and services support a variety of CPO use cases, including:

• For-Profit CPOs:

Companies focusing on large-scale EV charging deployments and operations;

EV manufacturers such as General Motors, Mercedes-Benz and Toyota providing charging infrastructure to support EV sales, and also at their factories and workplaces;

• Site Hosts:

Institutions such as retail, education, healthcare, workplaces, multi-family, parking, and hospitality offering EV charging as an amenity to attract customers, employees, or tenants;

• Fleet CPOs:

Organizations like vehicle leasing and fleet management companies that use charging infrastructure to support fleet operations;

• Hybrid, Multi-Family or Shared CPOs:

Apartments and condominiums providing shared charging for residents.

The ChargePoint Platform enables CPOs to offer customized solutions to fit their specific business needs with features including remote diagnostics, energy management, flexible pricing, and dynamic controls to manage EV driver access policies.

e-Mobility Service Providers

e-Mobility Service Providers connect EV drivers to charging infrastructure across multiple siloed networks of charging stations through digital platforms.

Typically, an e-Mobility Service Provider will directly manage the relationship with its customers, the EV drivers, by offering a mobile application or in-dash interface to enable EV drivers to find, use and pay for charging.

Often, an e-Mobility Service Provider does not own or operate charging stations and so needs to partner with CPOs to provide its EV drivers with access to

Table of Content

charging stations.

ChargePoint’s eMSP Service enables e-Mobility Service Providers to build and deliver a full complement of charging features for EV drivers, including:

• Station Discovery:

Locate networked charging systems across ChargePoint’s network of active ports and the charging networks of its roaming partners;

• Authentication and Payments:

Secure, flexible payment options, including credit cards and digital wallets;

• Driver Engagement:

Loyalty programs, reservations, and waitlist features to enhance the charging experience;

• Home Charging Management:

Tools for scheduling and rate optimization for home charging.

These are just a few of dozens of additional capabilities to customize the end-user experience and aid station and charging management.

By leveraging the ChargePoint eMSP Service, e-Mobility Service Providers can deliver branded, seamless charging experiences to their EV driver customers.

EV drivers are the core of the charging ecosystem, benefiting from ChargePoint’s extensive network of charging ports and user-friendly mobile applications.

Key features include:

• Seamless integration of the ChargePoint eMSP Service into OEM vehicle companion apps and in-dash charging systems;

• Access to more than 1 million charging ports worldwide on ChargePoint’s publicly accessible active ports and through its roaming partnerships;

• Charging station access across multiple networks with unified access;

• Real-time station availability, pricing transparency, and session notifications.

ChargePoint EV driver solutions enable CPOs and e-Mobility Service Providers to engage with and support personal EV owners and fleet drivers, accelerating EV adoption and fostering a sustainable future.

An industry pioneer since 2007, ChargePoint has led the electric mobility revolution by offering tailored EV charging solutions for a myriad of applications in a variety of industries.

Unlike CPOs that invest heavily in owning charging stations, ChargePoint empowers site owners, CPOs and e-Mobility Service Providers to manage charging networks under their own brands, enabling scalable growth and maximum flexibility.

Today, ChargePoint is well positioned to lead and benefit from the growing EV industry.

By prioritizing flexibility, scalability, and customer empowerment, ChargePoint is meeting the challenges of electrification through its comprehensive networked charging systems hardware and the ChargePoint Platform.

ChargePoint’s comprehensive ecosystem of products and services supports ChargePoint’s mission to accelerate the transition to electric mobility while positioning the Company for both leadership and longevity in the coming years.

The Portfolio

ChargePoint primarily generates revenue through the sale of networked charging hardware combined with its Cloud Services billed as a subscription.

ChargePoint also provides an extended parts and labor warranty, Assure, as an annual subscription.

These products are available to commercial and fleet customers as software-only or a combination of software, hardware, and extended parts and labor warranty solutions.

ChargePoint offers both an upfront sale of the charging station hardware with separate subscriptions for

ChargePoint generates revenue through the sale of its diverse portfolio of hardware, software products, and services designed to support the implementation and management of EV charging solutions.

ChargePoint primarily generates revenue from the sale of its networked charging systems, sales of a variety of software solutions that comprise the ChargePoint Platform and are offered as a subscription billed upfront regardless of term, sale of its Assure programs as a service subscription billed upfront regardless of term, and sales of its professional services.

ChargePoint sells these offerings as software-only solutions or as integrated packages that combine networked charging systems, the ChargePoint Platform, and extended parts and labor warranties, providing flexibility to ChargePoint’s customers.

Networked Charging System Portfolio.

ChargePoint offers a comprehensive range of networked charging systems, designed and developed in-house and manufactured in collaboration with its contract manufacturing partners.

These solutions deliver high efficiency in power and high energy density, with a scalable architecture that ensures high availability, seamless modular expansion, and efficient serviceability.

ChargePoint’s hardware portfolio includes Level 2 AC charging stations for commercial, fleet, and home applications, as well as Level 3 DC fast chargers for commercial and fleet use.

ChargePoint’s portfolio of networked charging systems are available in various form factors and power levels and can accommodate nearly every charging scenario.

ChargePoint’s networked charging systems support all electric vehicle types (including cars, commercial and delivery vehicles, buses, and heavy-duty vehicles) regardless of manufacturer or port connector type.

Additionally, ChargePoint® Omni Port integrates multiple charging standards into a single port, enabling almost any electric vehicle to charge at any Omni Port enabled station.

In addition, ChargePoint partners directly with other charging station hardware manufacturers to sell “ChargePoint Ready” chargers with the ChargePoint CMS preinstalled.

Further, customers can also choose from hundreds of “ChargePoint Compatible” stations built by third-party hardware manufacturers and operate them by installing the ChargePoint CMS.

Table of Content

Cloud Services and Assure, or ChargePoint as a Service, referred to as CPaaS, in which charging station hardware, Cloud Services and Assure are bundled into a multi-year or annual subscription.

• Hardware Portfolio Powered by Cloud Services .

ChargePoint believes it offers among the industry’s leading hardware for AC and DC charging and does not sell these solutions without a Cloud Services subscription.

ChargePoint’s solutions deliver differentiated features and high efficiency in power and footprint, with a modular and scalable architecture created for high availability, easy expansion and efficient serviceability.

ChargePoint thoroughly tests its products, including interoperability checks for different types of EVs, for a range of functional, climate and environmental conditions and for high, long-term reliability.

ChargePoint’s stations are available with customizable video and signage options for customers who want to promote their brand.

• AC Solutions :

▪ ChargePoint’s newest family of charging stations, the CP6000 series, is part of a complete commercial and fleet charging solution, including power management and enhanced maintenance services.

The CP6000 family of charging stations are UL® and ENERGY STAR® certified as well as compliant with the ISO 15118 communication standard and can deliver up to 19.2kW per port.

With standard connector options for SAE J1772 and, in 2024 SAE J3400, ChargePoint’s CP6000 charging stations can charge almost any EV model in North America.

▪ ChargePoint’s CT4000 family of charging stations is UL® and ENERGY STAR® certified.

All CT4000 models offer one or two standard SAE J1772 AC charging ports with locking holsters, capable of delivering up to 7.2kW per port.

▪ ChargePoint’s AC solutions further includes the CPF50 family of charging station designed for use in fleet and multi-family applications and the ChargePoint Home Flex designed for fast, flexible home charging.

Both the CPF50 and ChargePoint Home Flex are UL® and ENERGY STAR® certified with standard SAE J1772 or SAE J3400 AC charging ports making them safe, reliable, and energy efficient.

ChargePoint’s AC networked charging systems are a key component of comprehensive charging solutions for commercial, fleet, multi-family, and residential applications.

They are available in a range of form factors, including the CP6000, CT4000 series, and the award-winning ChargePoint® Home Flex.

ChargePoint’s AC networked charging systems comply with North American and European safety standards and regulations, and are designed to ensure safety, reliability, and energy efficiency.

Designed for flexible applications, ChargePoint’s AC networked charging systems come in a wide variety of power configurations and can be pedestal or wall mounted, making them ideal for diverse customer needs such as workplaces, commercial parking lots, residential homes, and multi-family dwellings, and a variety of fleet applications from smaller delivery vehicles to fleets with longer dwell times such as school buses and public transit.

ChargePoint’s AC networked charging systems provide a convenient way for EV drivers to add up to 40 miles of range per hour while charging at home, at work or around town.

• DC Solutions :

▪ ChargePoint’s family of Express and Express Plus fast charging DC solutions are configurable and extensible solutions intended to serve high-powered charging applications necessary for fleet, interstate corridor, fueling, convenience and other fast charge applications.

ChargePoint’s Express and Express Plus fast-charging DC solutions are compatible with global charging connector standards including CCS1, CCS2, SAE J3400 and CHAdeMO connector types and ISO communication standards.

ChargePoint’s Express products can dispense up to 62.5kW per port and up to 500kW per port depending on configuration with Express Plus.

Beginning in 2024, ChargePoint added a pantograph connector option for its family of Express Plus fast chargers designed specifically for bus fleet operations.

• Advanced Cloud Services to Scale Charging Infrastructure.

Cloud Services subscription enables commercial and fleet customers to manage charging in their parking lots and depots.

Features are tuned for a variety of settings.

Retailers can optimize charging station locations and pricing for foot traffic and loyalty.

Employers and multi-family commercial real estate operators can make fueling an efficient benefit to attract talent or tenants.

ChargePoint’s Express and Express Plus DC fast charging systems are designed to ensure safety, reliability, and energy efficiency as they deliver energy in a wide variety of flexible and scalable configurations for high-power charging applications.

ChargePoint’s DC fast charging stations are capable of charging an electric vehicle up to 80% of battery capacity in as little as 20 minutes, making them ideal for a variety of fast charging locations, including interstate corridors, fueling stations, convenience stores, and fleet operations with larger vehicles or shorter dwell times.

• Third-Party Hardware Solutions :

ChargePoint also supports two classes of third-party charging stations hardware that can be operated on ChargePoint’s CMS which ChargePoint refers to as “ChargePoint Ready” and “ChargePoint Compatible.”

◦ ChargePoint Ready stations are built by third-party manufacturers that meet ChargePoint’s product specifications and are offered as part of an integrated ChargePoint solution.

These stations come pre-packaged with ChargePoint’s CMS and are produced by partners such as Alpitronic S.r.l.

and Vestel Ticaret A.S.

ChargePoint sells these stations alongside its full suite of installation and activation services, CMS Service subscriptions, and Assure warranty offerings.

◦ ChargePoint Compatible stations are third-party charging stations that ChargePoint has tested and integrated with the ChargePoint CMS.

ChargePoint sells a ChargePoint CMS subscription along with a separate activation service in connection with supporting these charging stations.

Advanced ChargePoint Platform.

The ChargePoint CMS Service and ChargePoint eMSP Service combine to form the ChargePoint Platform, a powerful, flexible, and scalable software solution that enables CPOs, fleet owners, auto OEMs and e-Mobility Service Providers to efficiently manage their charging infrastructure, while also enabling EV drivers to access charging when, where and how they want to charge.

The ChargePoint CMS is a cloud-based SaaS platform that seamlessly manages the end-to-end lifecycle of ChargePoint’s networked charging systems as well as third-party charging stations.

ChargePoint’s CMS capabilities include network connectivity, proactive monitoring, station troubleshooting to ensure station up-time targets, managing driver access policies, optimizing energy usage, setting energy prices and processing EV driver payments.

The ChargePoint eMSP Service is a suite of cloud-delivered software capabilities delivered through APIs and companion professional services for e-Mobility Service Providers, enabling them to build and publish mobile and in-dash applications for EV drivers to find, use and pay for charging.

ChargePoint also offers its own mobile EV driver application that compliments its CMS Service and eMSP Service offerings, enriching charging experiences by connecting EV drivers with locations, pricing, and payment methods for ChargePoint and third-party roaming charging stations.

ChargePoint believes that as EV penetration rises, so does the importance of the ChargePoint Platform to help manage charging complexity.

Some examples include:

• Commercial customers can adjust the rate at which EVs charge to match the natural parking duration at the site and to avoid peak or demand charges;

• Charging infrastructure made available to the public during the day can be reserved for private fleets at night or made available to employees during the day and open to the public at night;

• Telematics software integrations provide data and insights to reduce costs and improve fleet reliability.

The ChargePoint Platform is specifically designed to integrate with fuel management systems and fleet operations software to enable seamless integration into fleet processes;

• ChargePoint Platform APIs integrate with in-vehicle infotainment systems, consumer mobile applications, payment systems, mapping tools, home automation assistants, fleet fuel cards, wearables and residential utility programs to enable ChargePoint’s customers to deliver expanded B2B and B2C services to their core constituents.

ChargePoint CMS Service :

ChargePoint CMS Service enables customers to manage networked charging systems in their parking lots and depots.

Retailers can optimize charging station locations and pricing to encourage foot traffic and customer loyalty.

Employers and multi-family commercial real estate operators can make fueling a desirable benefit to attract talent or tenants.

Parking operators can vary pricing to reflect market conditions, and fleet operators can manage use cases from having drivers take their own vehicles home every day to high-power, high-complexity centralized fleet depots.

As of January 2024, ChargePoint received Federal Risk and Authorization Management Program (“FedRAMP”) authorization.

All ChargePoint Cloud Services products are FedRAMP-authorized and meet all FedRAMP requirements.

These requirements include best-in-class data security, dedicated cloud hosting for federal customers, and rigorous standards for authorization, access, and continuous monitoring.

• Cloud Services capabilities include the functionality below:

▪ Station and site host management :

making charging accessible to the public or select users, simplifying management of multiple charging sites and their parking policies, enabling sub-hosts, delivery of analytics, utilization reporting, remote diagnosis and updates with the latest software features.

▪ Host pricing and payment remittance capabilities :

enabling site hosts or station owners to set pricing, including support for pricing scenarios (e.g., by driver group, time of day, idle status, energy dispensed, by session).

Remittance is possible to one or many accounts.

These use cases require best-in-class data security, dedicated cloud hosting for federal

Table of Content

customers, and rigorous standards for authorization, access, and continuous monitoring.

ChargePoint sells subscriptions to its CMS on a per charging port basis, typically in one-, three- or five-year terms, including ChargePoint Ready and ChargePoint Compatible charging stations.

As ChargePoint’s base of installed and activated networked charging systems grows, and as customers choose to install ChargePoint’s CMS on third-party charging stations, ChargePoint expects its annual recurring revenue from CMS subscriptions to continue to grow.

ChargePoint CMS Service capabilities include the following functionalities:

• Networked Charging System Management :

End-to-end management of ChargePoint networked charging systems as well as ChargePoint Ready or ChargePoint Compatible charging stations, including remote charger diagnostics, proactive fault monitoring, firmware updates, access controls and utilization analytics.

• Energy Management :

enabling stations to share circuits, oversubscribing electrical panels to add more ports beyond the peak electrical capacity, and supporting the creation of advanced groups and rules which enable energy use policies.

Energy management can be integrated with support for building load management and integration with utility load management programs.

Smart energy optimization features such as power sharing, dynamic load balancing and demand response integration to reduce charging station operating costs and improve grid stability.

ChargePoint energy management further enables stations to share circuits and supports the creation of advanced groups and rules which enable energy use policies.

• Fleet Operations :

Smartly and securely uses a fleet vehicle’s route scheduling, unique charging requirements, electrical constraints and local utility rates to automatically shift peak charging, guaranteeing each vehicle is optimized for work.

Fleet Operations leverage proactive alerts and integrations with fleet enterprise software systems, such as telematics, vehicle planning, or dispatching to reduce fleet operating expenses.

• Driver Management :

End-to-end driver management tools to manage driver access, authentication, and usage.

Driver management also enables convenience features, including specific user access via the ChargePoint connections system, the creation of driver groups to support a site host policy and waitlist or reservation features for drivers to reserve a place in line, among other features.

• Billing, Payments, and Invoicing :

Automated and flexible billing solutions, supporting multiple pricing models and flexible payment methods, invoicing, and reimbursement methods for drivers.

• Alerts & Monitoring :

Customizable alerting engine for real-time system monitoring, fault detection, vandalism, and proactive alerts to ensure maximum up-time and quick issue resolution.

Seamless bilateral interoperability with ChargePoint roaming partner networks, allowing EV drivers to charge across multiple networks with unified access and payment solutions.

• Bus Telematics :

Powers the collection, alerting, and reporting of critical vehicle performance data on bus fleets, whether electric powered, diesel, hydrogen, CNG, or hybrid to allow operators to monitor vehicle performance in real-time, optimize route planning, and receive timely alerts for performance or maintenance needs - all provided using detailed analytics through an integrated reporting suite or seamless data export to external analytics platforms.

ChargePoint eMSP Service :

ChargePoint’s eMSP Service is a flexible customizable solution offered together with companion services that enable e-Mobility Service Providers to publish mobile and in-vehicle applications for EV drivers to find, use and pay for EV charging.

ChargePoint’s eMSP Service offers access to over 85,000 public ports in North America and Europe as well as semi-public stations owned and operated by thousands of workplaces, retail outlets, and residential complexes which can be accessed with permissions granted by the charging station owners.

The eMSP Service is built on open, extensible standards and published via APIs, which allows e-Mobility Service Providers to choose which services they want to enable on their own platforms to deliver a differentiated EV driver experience.

ChargePoint believes its eMSP Service plays a crucial role in the expansion and adoption of mobile electrification.

ChargePoint licenses its eMSP Service to e-Mobility Service Providers in a combination of per vehicle, per EV driver or per transaction fee models.

Examples of ChargePoint’s eMSP Service integrations include mobile applications and in-vehicle or in-dash integrations with auto OEMs’ vehicle charging apps to enhance the overall EV ownership experience and enable their vehicle drivers to find, use and pay for charging sessions.

Similarly, EV fleet managers and fleet management companies use the eMSP Service driver services APIs to manage their fleet of EV drivers’ on-route and at-home charging needs, in addition to reconciliation and reimbursement of such EV driver’s charging fees.

ChargePoint charges a monthly per vehicle or per EV driver fee in connection with the licensing of its eMSP Service and believes that such licensing will increasingly contribute to its overall revenue as its eMSP Service is adopted more widely and as the overall share of EVs sold for private and fleet applications increases.

ChargePoint’s eMSP Service capabilities include the following functionalities:

• Charging Station Location :

Locates chargers from CPOs on the ChargePoint network and those of ChargePoint’s roaming partners;

• Authenticate :

Provides secure EV driver authentication methods beyond just RFID cards such as “tap-to-charge” with a phone or smart watch, custom application or in-dash based charging station authentication, or vehicle identification-based authentication;

Table of Content

▪ Driver management tools :

enabling convenience features including specific user access via the ChargePoint connections system, the creation of driver groups to support a site host policy and waitlist or reservation features for drivers to reserve a place in line, among other features.

▪ Integration with route planning systems for fleets :

enabling on-budget deadline scheduling in accordance with energy rate structures and on-site energy storage.

On-site and on-route charging are supported and fueling payment is facilitated by integration with leading fuel cards.

▪ Cloud Service solutions for all use cases :

enabling CPOs to choose ChargePoint’s Cloud Services while selecting their choice of third-party hardware or e-mobility services providers (“eMSPs”) to build and integrate their solutions with ChargePoint’s Cloud Services, provides an extensible solution to any CPO or eMSP.

ChargePoint’s software platform enables charging station owners, CPOs and eMSPs to manage costs, optimize fleet operations, integrate loyalty programs and manage payments, all while empowering seamless integrations with customer workflows, fuel and fleet cards providers, payment processors, utilities, energy services and more.

ChargePoint believes that as EV penetration rises, so does the importance of Cloud Services to help manage charging complexity.

Some examples include:

• The ability for commercial customers to adjust the rate at which vehicles charge to match the natural parking duration at the site and to avoid peak or demand charges.

• Charging infrastructure made available to the public during the day can be reserved for private fleets at night or to employees during the day and open to the public at night.

Fleet software integrations also offer load control, charging scheduling and alerts to reduce cost and improve reliability.

The software is designed to integrate with fuel management systems, fleet operations software and vehicle telematics to enable seamless integration into fleet processes.

• Ecosystem integrations enable drivers to access charging functionality via in-vehicle infotainment systems, consumer mobile applications, payment systems, mapping tools, home automation assistants, fleet fuel cards, wearables and residential utility programs.

All ChargePoint commercial ports are integrated into one network available to drivers who can use the ChargePoint mobile application to find charging locations, check availability, start sessions, set up reservations for a charging station, pay for charging, use their ChargePoint account to roam across networks, access preferential pricing and loyalty offers and track the estimated avoidance of CO2 emissions in comparison to the use of liquid fuel.

• Parts and Labor Warranty Subscriptions and Customer Support Foster Loyalty .

ChargePoint offers the Assure warranty services which include proactive monitoring, fast response times, parts and labor warranty, expert advice and robust reporting.

ChargePoint also provides phone support in multiple languages to both site hosts and drivers.

Rising EV adoption creates more awareness and utilization.

ChargePoint believes the quality of the ChargePoint experience generates driver satisfaction and therefore encourages customers to purchase additional networked chargers and Cloud Services, creating a virtuous cycle of growth from customers expanding their charging capacity.

• Network Operations Center Improves Driver Experience .

In August 2023, ChargePoint launched its Network Operations Center to address network reliability which is often considered to be a barrier to mainstream EV adoption.

ChargePoint’s Network Operations Center features 24/7 proactive station monitoring and predictive analytics to find anomalies before the station owner or drivers notice them.

ChargePoint’s Network Operations Center leverages multiple sources of driver feedback, including ChargePoint’s mobile app, calls to ChargePoint’s driver support line and social listening, to enhance the completeness of actionable insights, with the ultimate goal of driving charging station uptime.

ChargePoint defines “uptime” as the percentage of ChargePoint charging ports which are capable of dispensing energy at any given moment.

Enables seamless and secure payment methods including credit cards, digital wallets, fuel cards and other payment and reimbursement methods;

Enables connecting EV drivers with businesses and loyalty programs to allow EV drivers to access customizable charging benefits;

• Join a Waitlist :

Enables advanced queuing and reservation capabilities;

• Track Charging Activities :

Enables e-Mobility Service Providers, and their EV driver customers, to get notified about charging station availability, track changes in power availability or charging prices, session completion and more;

• Charge at Home :

Allows e-Mobility Service Providers, and their EV driver customers, to set charging reminders, set a charging schedule and save on utility costs with demand response programs.

ChargePoint Mobile App :

ChargePoint deploys its own eMSP Service directly to EV drivers via the ChargePoint mobile app.

The ChargePoint mobile app is an essential companion for EV drivers wherever they charge.

For ChargePoint’s residential customers, the ChargePoint mobile app allows EV drivers to manage their ChargePoint networked home charging station, optimize charging costs through scheduled charging, participate in utility programs, and utilize other smart-home integrations.

In the public setting, the ChargePoint mobile app provides EV drivers with access to one of the world’s largest networks of public and semi-public EV charging stations.

The ChargePoint mobile app can work in concert with the ChargePoint CMS to deliver uniquely enriched EV driver experiences, including the ability to use more convenient and secure charging authentication methods like “tap-to-charge” and “Autocharge” features which allow EV drivers seamless access to charging benefits from CPOs on the ChargePoint network.

These same features can be enabled with ChargePoint’s e-Mobility Service Provider customers by means of the ChargePoint eMSP Service.

ChargePoint believes the benefit of the ChargePoint mobile app gives networked charging system owners a powerful marketing tool to attract the more than 750,000 active monthly ChargePoint EV drivers to their charging stations and places of business.

ChargePoint Services and Support Portfolio

ChargePoint provides a complete portfolio of services and support offerings designed to deliver critical networked charging system “up-time” and network charging availability to its customer base.

The deployment of ChargePoint networked charging systems often starts with a planning phase.

ChargePoint delivers service offerings that include on-site development and analysis as well as activation and commission services to confirm all safety and regulatory installation processes are followed and support a safe and reliable charging environment for EV drivers.

The various phases of the customer’s networked charging system deployment journey are delivered by a constellation of ChargePoint service partners, with ChargePoint often providing oversight, while ensuring its service partners are certified and trained on ChargePoint technology.

ChargePoint also supports state, federal and utility rebate or grant application programs, ensuring customers maximize their rebate or grant application success and realize all available incentives.

Once installed and activated, ChargePoint directly supports the ongoing successful operations of its networked charging systems.

ChargePoint offers a two-year, parts only warranty with the purchase of all networked charging systems and separately sells Assure, or its enhanced Assure Pro warranty services, each of which include proactive monitoring, fast response times, parts and labor warranty, expert advice and robust reporting.

ChargePoint provides phone support in multiple languages to site hosts, CPOs and EV drivers.

Delivery of Assure and or ChargePoint’s enhanced “Assure Pro” service level agreements are anchored on the following critical capabilities, that in combination, allow ChargePoint to deliver against its charging station up-time objectives:

• 24x7 Priority Technical Support :

ChargePoint’s technical resources are available to support its customers 24 hours a day, 7 days a week, on all software and hardware questions and problem reports, in its customers’ local language.

ChargePoint’s support teams have a direct line to its engineering organization to ensure critical issues that require engineering attention are resolved in an expeditious manner.

For ChargePoint’s largest customer’s that are delivering mission critical charging implementations, ChargePoint offers a premium support package with designated service delivery managers monitoring and managing the customer’s install base of networked charging systems.

• Proactive Monitoring by ChargePoint’s Network Operations Center :

ChargePoint’s Network Operations Center features 24x7 proactive station monitoring and predictive analytics to find anomalies before the station owner or drivers notice them.

ChargePoint defines “up-time” as the percentage of ChargePoint charging ports which are capable of dispensing energy at any given moment.

• Replacement Parts Inventory :

ChargePoint operates numerous forward storage locations intended to ensure replacement parts are available close to its customers, facilitating expeditious repair of stations.

• Robust Field Partner Network :

ChargePoint has built a strong network of field operations and maintenance (O&M) partners, all certified and trained on ChargePoint technology, serving as “feet on the street” technicians that drive prompt repair of stations.

Table of Content

ChargePoint also provides a 24x7 EV driver support hotline for EV drivers who are charging at ChargePoint networked charging systems, aiding in various situations like setting up charging for the first time, billing questions or difficulty in starting a charging session.

ChargePoint believes the quality of the ChargePoint charging experience generates driver satisfaction and therefore encourages customers to purchase additional networked charging systems and CMS subscriptions, creating a profitable cycle of growth from customers expanding their charging infrastructure.

The ChargePoint Model and the EV Ecosystem

ChargePoint believes it is uniquely positioned to make all the constituents in the EV ecosystem successful in their respective EV journeys.

ChargePoint makes available a full suite of AC and DC networked charging systems, in both North America and Europe, in form factors that may be deployed in nearly all charging use cases, to enable any site host, CPO or residential customer to select a charging station to meet their professional or personal needs.

ChargePoint’s CMS drives effective, insightful and mission-critical networked charging system management, from deployments of hundreds to thousands of EV charging ports by sophisticated fleet managers and CPOs to individual homeowners looking to perform personal charging in their own garages.

ChargePoint’s eMSP Service forms the backbone for third-party e-Mobility Service Providers to build and extend business-to-consumer and business-to-business platforms such as in the case of auto leasing companies, fuel card companies, and auto OEMs’ in-dash charging applications.

ChargePoint’s managed services and EV charging infrastructure deployment expertise plays a critical role enabling CPOs to develop suitable EV charging sites with commercial and industrial site hosts in conjunction with state, federal and utility grant and incentive programs.

From a charging network perspective, ChargePoint’s customer goals are ubiquity, accessibility, usability and reliability.

ChargePoint believes charging infrastructure should be broadly distributed, easily found, easy to use and should always work.

ChargePoint believes its networked charging ports under management and roaming relationships enabled by the ChargePoint Platform support one of the largest and fastest growing networks of EV charging infrastructures available.

ChargePoint makes networked charging ports easy to locate and use by EV drivers via ChargePoint’s mobile application and eMSP Service, and simple for CPOs to manage via its CMS Service.

Most importantly, ChargePoint’s networked charging systems are designed for high up-time, monitored and managed through its CMS Service, and supported via its Network Operation Center and extensive network of service partners.

These attributes, and many others, create a charging network that encourages CPOs, e-Mobility Service Providers, site hosts and EV drivers to expand with, and rely on, ChargePoint for their EV infrastructure solutions.

As a result, as of January 31, 2025, ChargePoint has approximately 342,000 active charging ports under management in North America and Europe, including approximately 33,000 DC fast charging ports (excluding single-family home ports).

In addition, ChargePoint enables its nearly 750,000 monthly EV drivers on the ChargePoint mobile app to access more than 1 million charging ports worldwide on ChargePoint’s publicly accessible active ports and through its roaming partnerships.

Go to Market Strategy

ChargePoint sells networked charging solutions in North America and Europe, and as of January 31, 2024, its customer base includes 74% of the 2023 Fortune 50 list of companies.

It is focused on three key verticals:

ChargePoint has built a strong sales and marketing engine in North America and Europe, with an established direct sales channel and digital marketing capability.

ChargePoint’s success is further built upon establishing and maintaining relationships with a variety of channel partners to extend its geographic reach, market penetration and improve its capability to scale logistics.

ChargePoint uses a two-tiered, indirect fulfillment model whereby ChargePoint sells its products and services to its distributors, which in turn sell to value added resellers, which then sell to end users.

ChargePoint refers to these end users as its customers.

ChargePoint anticipates that it will continue to rely on this two-tiered sales model to help facilitate sales of ChargePoint’s products and to grow its business internationally.

ChargePoint also has nationwide and local partners who sell, install and maintain ChargePoint solutions.

ChargePoint is focused on three key verticals:

commercial, fleet and residential.

• Commercial :

Commercial businesses already own or lease parking and many wish to electrify.

Commercial businesses and dedicated CPOs already own or lease parking and many wish to electrify.

These include retail centers, offices, medical complexes, schools, airports, municipalities, convenience stores, recreation centers and fast fueling sites, among others.

ChargePoint believes commercial businesses view charging as essential and invest to attract tenants, employees, customers and visitors, generate direct and indirect income, and achieve sustainability goals.

ChargePoint believes commercial businesses choose ChargePoint based on solution completeness (they are not responsible for being the integrator or support agent for drivers) and the quality that comes from designing hardware, software and services together.

These customers benefit from drivers that are typically familiar with ChargePoint’s products and services, including access to a free, top-rated application, around-the-clock support, and integration to popular mapping platforms, payment systems and wearables.

Brand awareness, education and demand marketing programs generate sales opportunities.

ChargePoint accesses the commercial market via its direct sales force (inside and field teams) and channel partners.

Table of Content

Fleet customers are public and private organizations that operate vehicle fleets in delivery/logistics, sales/service/motor pool shared transit and ride-sharing service operators.

ChargePoint believes many commercial businesses view charging as an essential investment to attract tenants, employees, customers and visitors, generate direct and indirect income, and achieve sustainability goals.

ChargePoint’s AC and DC charging station solutions and the ChargePoint Platform enable customers in the commercial and CPO vertical to optimize their total cost of ownership of their charging assets.

ChargePoint believes commercial businesses and dedicated CPOs choose ChargePoint based on its fully integrated hardware, software and support solutions completeness (for instance, they are not responsible for being a solutions integrator, payment processor or support agent for EV drivers) and the engineering quality that comes from designing hardware, software and services together.

ChargePoint accesses the commercial market via its direct sales force and channel partners.

Fleet customers operate vehicle fleets in delivery and logistics, sales and service, motor pool shared transit, and ride-sharing services.

ChargePoint believes these customers choose to electrify their fleets for economic reasons, as the comparative total cost of ownership compellingly favors electrification.

EV charging solutions can help them design and fuel operations, manage operating costs and achieve sustainability goals.

ChargePoint provides a flexible architecture of networked charging stations, Cloud Services subscriptions, professional services, support, monitoring and parts and labor warranties needed to support all use cases, from single vehicle take-home fleets to full-scale electrified depots.

Importantly, with ChargePoint’s FedRAMP authorization, ChargePoint is well positioned to serve government-owned and privately-owned EV charging needs for federal fleets in furtherance of U.S.

federal government EV charging objectives.

The ChargePoint Platform can help them design and fuel

Table of Content

operations, manage operating costs and achieve sustainability goals.

ChargePoint provides a flexible bundle of networked charging systems, ChargePoint Platform subscriptions or licenses, professional services, support, telematics solutions, monitoring and parts and labor warranties needed to support all fleet implementation use cases, from single vehicle take-home fleets to full-scale electrified depots.

Importantly, with ChargePoint’s Federal Risk and Authorization Management Program (“FedRAMP”) authorization, ChargePoint is well positioned to serve government-owned and privately-owned EV charging needs for federal fleets.

ChargePoint accesses the fleet market via its direct sales force and channel partners.

1 unchanged sentence

ChargePoint offers residential EV charging solutions for drivers in single-family residences who want the convenience of fueling at home with the ability to optimize energy costs and full integration with the same mobile application they use for charging away from home.

Residential charging solutions include the capability to manage grid load in conjunction with utility programs and EV fueling rate programs.

ChargePoint accesses single-family residential opportunities through direct marketing to the consumer using proprietary and third-party e-commerce platforms, as well as through partnerships with utilities, original equipment manufacturers (“OEMs”), car dealerships and insurance companies.

Residential charging solutions include the capability to manage grid load in conjunction with utility programs and EV fueling rate programs or driver reimbursement programs.

ChargePoint accesses single-family residential opportunities through direct marketing to the consumer using proprietary and third-party e-commerce platforms, as well as through partnerships with utilities, auto OEMs, car dealerships, leasing companies, online marketplaces and insurance companies.

For apartments and condominium settings, ChargePoint offers landlords and owner associations the ability to offer charging billed directly to the tenant.

ChargePoint also offers customer support around-the-clock and in multiple languages.

ChargePoint accesses this residential vertical via direct marketing and channel partners, including ChargePoint’s proprietary webstore and other e-commerce platforms across United States and Canada.

Because ChargePoint rarely owns and operates charging infrastructure, it is able to allocate capital strategically towards ChargePoint’s initiatives in research and development, marketing and sales and public policy.

Because ChargePoint rarely owns and operates charging infrastructure, it is able to allocate capital strategically towards ChargePoint’s initiatives in new product research and development, and public policy.

• Research and Development .

With a singular focus on EV charging, ChargePoint offers a complete set of networked charging solutions for most EV charging use cases in North America and Europe.

• Go to Market.

ChargePoint has built a strong marketing and sales engine in North America and Europe, with an established direct sales channel, digital marketing capability and substantial channel sales.

ChargePoint’s success is dependent in part upon establishing and maintaining relationships with a variety of channel partners that it utilizes to extend its geographic reach and market penetration.

ChargePoint uses a two-tiered, indirect fulfillment model whereby ChargePoint sells its products and services to its distributors, which in turn sell to resellers, which then sell to end users.

ChargePoint refers to these end users as its customers.

ChargePoint anticipates that it will continue to rely on this two-tiered sales model in order to help facilitate sales of ChargePoint’s products and to grow its business internationally.

ChargePoint also has nationwide and local partners who sell, install and maintain ChargePoint solutions.

• Public Policy .

4 unchanged sentences

◦ reduction in barriers to infrastructure deployment including construction costs, permitting, building codes and right to charge policies for renters and tenants;

While ChargePoint believes that its capital-light business model and comprehensive offering of hardware and software solutions provides a distinct competitive advantage, ChargePoint has competitors in different sectors of the market, including:

(i) manufacturers of non-networked hardware charging systems, such as Tesla, Inc., ABB Ltd., Siemens AG, Alpitronics GmbH Srl, Kempower Oyj, and Alfen N.V., (ii) software providers that offer solutions to access and manage non-networked hardware charging systems, such as Driivz Ltd., EV Connect, Inc., and Monta ApS and (iii) CPOs or auto OEMs that acquire access to sites and leverage first or third-party hardware and software to build out charging infrastructure to sell energy, such as EVgo, Inc., Electrify America, Blink Charging Co.

and Tesla, Inc.

ChargePoint provides custom charging solutions tailored to fit the needs of our customers, whether that means purchasing ChargePoint’s comprehensive solution including hardware, software, services and support, or selecting ChargePoint’s Cloud software to integrate with third-party hardware of choice.

While ChargePoint believes that the full functionality of its comprehensive suite of hardware and software provides the best customer experience, ChargePoint actively deploys ChargePoint Cloud software onto third-party hardware to fit the unique business needs of its customers.

As primarily a non-asset owner, ChargePoint does not compete directly with CPOs.

Table of Content

◦ serving on consortiums and industry trade groups, such as ChargeUp Europe, for the purpose of promoting the transition to, accessibility, and deployment of, electric vehicle infrastructure.

While ChargePoint believes that its business model and comprehensive offering of hardware and software solutions provides a distinct competitive advantage, ChargePoint has competitors in different sectors of the electric infrastructure market, including:

(i) manufacturers of hardware charging systems, such as ABB Ltd., Alfen N.V., Alpitronic S.r.l., Blink Charging Co., Kempower Oyj, Siemens AG, and Tesla, Inc., and (ii) software providers that offer solutions to access and manage non-networked hardware charging systems, such as Ampeco Ltd., Driivz Ltd., EV Connect, Inc., and Monta ApS.

ChargePoint provides custom charging solutions tailored to fit the needs of its customers, whether that means purchasing ChargePoint’s comprehensive solutions including hardware, software, services and support, or selecting ChargePoint’s CMS to integrate with the customer’s third-party hardware of choice.

While ChargePoint believes that the full functionality of its comprehensive suite of hardware and the ChargePoint Platform provides the best customer experience, ChargePoint actively deploys ChargePoint CMS onto third-party hardware to fit the unique business needs of its customers.

Because ChargePoint predominately does not own and operate charging stations, ChargePoint does not believe it competes directly with CPOs.

Instead, CPOs and other solution providers use the ChargePoint Platform as the backbone or building blocks to create their own charging networks.

ChargePoint thus believes its primary differentiators are:

• comprehensive and fully integrated Cloud Services stack for all AC and DC charging system solutions for each charging vertical – commercial, fleet and residential;

• size and scale of its networked charging system, including roaming partners;

• variety and quality of networked charging system product offerings for AC and DC applications;

• a comprehensive and fully integrated CMS stack for all AC and DC networked charging system solutions for each charging vertical – commercial, fleet and residential;

• size and scale of the active charging ports on its network, as well as those of its roaming partners;

• variety and quality of networked charging systems product offerings for AC and DC applications;

• reliable product performance, testing and certifications;

• ease of use of its Cloud Services, mobile and in-dash driver applications and features;

• ease of use of the ChargePoint Platform, including the ChargePoint mobile app, in-dash driver applications and features;

Table of Content

• brand awareness;

• quality of driver and charging system owner support;

• scale of operations.

ChargePoint believes it competes favorably with respect to each of these factors.

• quality of driver and networked charging system owner support;

• its scale of operations, including its presence in both North America and Europe.

North America

ChargePoint believes it leads the North America market in the sale of commercial AC chargers.

ChargePoint believes it is a leader in the North America market in the sale of commercial AC networked charging systems.

ChargePoint also has a strong market position in AC chargers for use at home or multifamily settings and high-power DC chargers for fleet applications, urban fast charging, corridor or long-trip charging.

While ChargePoint’s primary business model does not include owning and operating networked charging stations, ChargePoint does face competition from EV charging providers that also operate as CPOs, such as Blink Charging Co.

and Tesla, Inc.

The market in Europe is highly fragmented in terms of both providers and solutions, with many companies providing hardware only or software only, and few providing both.

ChargePoint believes its portfolio breadth and range of hardware and Cloud solutions position it well to succeed broadly in Europe, and thus has invested, and will continue to invest, heavily in its strategy to establish a successful pan-European presence that maps to major pan-European customers and provides a seamless experience for drivers as they travel.

ChargePoint operates in Europe primarily by selling its proprietary networked charging stations or white-labeled third-party charging stations bundled with its Cloud Services.

ChargePoint further provides software-only solutions by licensing its charging management system to eMSPs to serve as the backend or technology stack for eMSPs offering their own proprietary mobility and roaming services.

The market in Europe is highly fragmented in terms of both providers and solutions, with many companies providing charging hardware or software only, and few providing both.

ChargePoint believes its portfolio breadth and range of networked charging system hardware and the ChargePoint Platform positions it well to succeed broadly in Europe, and thus has invested, and will continue to invest, in its strategy to establish a successful pan-European presence that maps to major pan-European customers and provides a seamless experience for drivers as they travel.

ChargePoint operates in Europe primarily by selling its proprietary networked charging systems or white-labeled third-party charging stations bundled with its CMS.

Growth Strategies

ChargePoint estimates it had approximately a 54% market share in publicly available networked AC charging in North America as of January 31, 2024.

ChargePoint began European operations in late 2017 and currently operates in 18 European countries.

It expects significant market opportunities for fleet solutions as fleet EVs begin to arrive in more meaningful volume.

ChargePoint believes the breadth and quality of its networked EV charging solutions, market share and driver awareness typically lead to customer loyalty, whereby customers typically choose to expand their charging footprint with ChargePoint as EV penetration rises and/or charging utilization at their location increases.

Over the years, ChargePoint’s customers have typically renewed their Cloud Services subscriptions and have expanded the number of charging ports they purchase from ChargePoint.

Growth is also supported by comprehensive ecosystem integrations ChargePoint has enabled that keep the ChargePoint brand top of mind with drivers, including in-vehicle infotainment systems, consumer mobile applications, payment systems, mapping tools, home automation assistants, fleet fuel cards, wearables and residential utility programs.

ChargePoint’s growth strategies to continue to scale networked EV charging are as follows:

• Accelerate alternative EV charging offerings .

ChargePoint intends to maintain its leadership position with continued efficient investment in the development of charging station technologies and Cloud solutions.

In addition, ChargePoint intends to expand its product offerings beyond its historical model of a site host or customer owning and operating charging as a capital expenditure.

• Invest in expanding ChargePoint’s customer base .

In both North America and Europe, ChargePoint intends to continue attracting new customers and pursuing a “land-and-expand” model which encourages existing customers to increase their charging footprint with ChargePoint over time as EV penetration increases.

Table of Content

• Accelerate Cloud Service solutions for all use cases .

In both North America and Europe, ChargePoint intends to be the software enabler for CPOs, both CPOs who choose to use ChargePoint hardware and CPOs who choose to use third-party chargers, and for eMSPs looking to build and integrate their solutions with ChargePoint’s Cloud and charger management system backend.

As of January 31, 2025, ChargePoint estimates that it holds approximately 61% market share in publicly available networked AC charging ports in North America and since launching operations in Europe in late 2017, ChargePoint has expanded its reach to more than 20 European countries.

ChargePoint is committed to enhancing its market presence by increasing its installed base - gaining market share in Europe and expanding its footprint in North America - through growing its product portfolio and introducing new software solutions.

ChargePoint believes its extensive and high-quality networked EV charging solutions foster customer loyalty.

As EV adoption rises and charging utilization increases, customers often choose to expand their charging infrastructure with ChargePoint.

This trend is supported by high renewal rates for ChargePoint's CMS and service subscriptions, as well as an increase in the number of charging ports purchased.

Growth is further supported by comprehensive ecosystem integrations ChargePoint has enabled that keep the ChargePoint brand top of mind with drivers, including in-vehicle infotainment systems, consumer mobile applications, payment systems, mapping tools, home automation assistants, fleet fuel cards, wearables and residential utility programs.

ChargePoint's strategies to continue to scale networked EV charging include:

• Increasing Research and Development into Innovative EV Charging Offerings:

ChargePoint plans to maintain its leadership through efficient investment in the development of advanced networked charging system technologies and enhancing ChargePoint Platform solutions.

• Investing in Customer Base Expansion:

In both North America and Europe, ChargePoint aims to attract new customers while pursuing a “land-and-expand” model.

This approach encourages existing clients to gradually increase their charging footprint with ChargePoint as EV penetration grows.

• Accelerating ChargePoint Platform Solutions:

ChargePoint intends to be the preferred software enabler for CPOs in both North America and Europe, supporting those who utilize ChargePoint hardware as well as those employing third-party chargers.

Additionally, ChargePoint aims to assist e-Mobility Service Providers in building and deploying tailored solutions through its eMSP Service.

By implementing these strategies, ChargePoint is well-positioned to grow and adapt to the evolving EV charging landscape.

Manufacturing, Logistics and Fulfillment

ChargePoint has historically designed its products in-house and outsourced production to contract manufacturers based in the United States, Mexico, Asia and Europe.

The majority of its hardware products are manufactured in Mexico.

The majority of its hardware products are manufactured in Asia and Mexico.

Components are sourced from a number of global suppliers, with concentrations in the United States and Asia.

1 unchanged sentence

That supply management team readies factories for new products, puts in place and monitors quality control points, plans ongoing production, issues purchase orders and coordinates deliveries to distribution hubs that ChargePoint manages in North America and Europe.

ChargePoint works with third-party fulfillment partners that deliver its charging stations from multiple locations, which it believes allows it to reduce order fulfillment time and shipping costs.

Almost all of ChargePoint’s commercial and fleet charging stations are installed and utilized outdoors and ChargePoint operates and conducts its sales primarily in the Northern Hemisphere.

ChargePoint works with third-party fulfillment partners that deliver its networked charging systems from multiple locations, which it believes allows it to reduce order fulfillment time and shipping costs.

Table of Content

Almost all of ChargePoint’s commercial and fleet networked charging systems are installed and utilized outdoors and ChargePoint operates and conducts its sales primarily in the Northern Hemisphere.

Seasonal changes and other weather-related conditions can affect the sales volumes and installation rates of ChargePoint’s products, primarily due to the impact of winter weather on construction timelines and delays.

1 unchanged sentence

Therefore, the financial results for any quarter do not necessarily indicate the results expected for the fiscal year.

Normally, the highest sales and earnings are in ChargePoint’s fourth quarter and the lowest are in its first quarter, commencing in February annually.

Historically, the highest sales and earnings are in ChargePoint’s fourth quarter and the lowest are in its first quarter, commencing in February annually.

Government Regulation

ChargePoint’s business is subject to a changing framework of laws and regulations at the federal, state, regional and local level as well as in foreign jurisdictions.

For example, substantially all of ChargePoint’s manufacturing operations are subject to complex trade, import and customs laws, regulations and tax requirements such as sanctions orders or tariffs.

For example, substantially all of ChargePoint’s contract manufacturing operations are subject to complex trade, import and customs laws, regulations and tax requirements such as sanctions orders or tariffs.

In addition, the countries in which ChargePoint’s products are manufactured or imported may from time to time impose additional duties, tariffs or other restrictions on ChargePoint’s imports or adversely modify existing restrictions.

4 unchanged sentences

ChargePoint has policies and procedures in place to promote compliance with these laws and regulations, however, government regulations are subject to change, and accordingly ChargePoint is unable to assess the possible effect of compliance with future requirements or whether ChargePoint’s compliance with such regulations, or failure to adequately comply, will adversely affect ChargePoint’s business, competitive position or ability to invest in capital expenditures in the future.

As of January 2024, ChargePoint became one of the first providers of EV charging solutions to receive Federal Risk and Authorization Management Program (FedRAMP) authorization from the United States federal government.

All ChargePoint Cloud products are now FedRAMP-authorized and meet all FedRAMP requirements.

These requirements include best-in-class data security, dedicated cloud hosting for federal customers, and rigorous standards for authorization, access, and continuous monitoring.

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

3 unchanged sentences

ChargePoint products are subject to regulations and certification requirements governing accuracy and other characteristics of embedded metrology for dispensing of electricity through charging stations.

ChargePoint has received certification for some products in the European Union under the Measurement Instrument Directive (MID), in the United Kingdom under the Measurement Instrument Regulation (MIR), the United States under the National Type Evaluation Program (NTEP), and in California under the California Type Evaluation Program (CTEP) as regulated by the Department of Food and Agriculture Division of Measurement Standards.

ChargePoint is in the process of seeking additional certifications on products in Germany and Canada.

ChargePoint has received certification for applicable products in the European Union under the Measurement Instrument Directive (MID), in Germany under the Measurement and Calibration Law (Eichrecht), in the United Kingdom under the Measurement Instrument Regulation (MIR), the United States under the National Type Evaluation Program (NTEP), and in California under the California Type Evaluation Program (CTEP) as regulated by the Department of Food and Agriculture Division of Measurement Standards.

ChargePoint is in the process of seeking additional certifications on products in Canada.

Field testing to validate meter accuracy may also be carried out by various government entities responsible for ensuring the accuracy of transactions based on measured quantities, similar to the way gasoline pumps or grocery store scales are audited.

Table of Content

Privacy and Data Security Laws

7 unchanged sentences

These obligations include granting individuals certain rights over personal data about them or relating to them, requirements around the disclosures and choices provided to those individuals, obligations to maintain certain documentation and to ensure specific contractual provisions are in place where engaging a third party, and requirements to safeguard personal data and to notify certain personal data breaches.

The EU GDPR also prohibits the international transfer of personal data originating in the EEA to jurisdictions that the European Commission does not recognize as having an ‘adequate’ level of data protection unless a data transfer mechanism has been put in place or a derogation under the EU GDPR can be relied on.

In July 2020, the Court of Justice of the EU (“CJEU”) in its Schrems II judgement limited how organizations could lawfully transfer personal data from the EEA to the U.S.

by invalidating the EU-US Privacy Shield for purposes of international transfers and imposing further restrictions on the use of standard contractual clauses (“EU SCCs”), including a requirement for companies to carry out a transfer privacy impact assessment (“TIA”).

A TIA, among other things, assesses laws governing access to personal data in the recipient country and considers whether supplementary measures that provide privacy protections additional to those provided under EU SCCs will need to be implemented to ensure an ‘essentially equivalent’ level of data protection to that afforded in the EEA.

On October 7, 2022, U.S.

President Biden introduced an Executive Order to facilitate a new Trans-Atlantic Data Privacy Framework (“DPF”) and on 10 July 2023, the European Commission adopted its Final Implementing Decision granting the U.S.

adequacy (“Adequacy Decision”) for EU-US transfers of personal data for entities self-certified to the DPF.

Table of Content

or a derogation under the EU GDPR can be relied on.

In certain cases, companies must also carry out a transfer privacy impact assessment (“TIA”) which, among other things, assesses laws governing access to personal data in the recipient country and considers whether supplementary measures that provide privacy protections additional to those provided under the European Union’s standard contractual clauses (“EU SCC”)s will need to be implemented to ensure an ‘essentially equivalent’ level of data protection to that afforded in the EEA.

In July 2023, the European Commission adopted its Final Implementing Decision granting the U.S.

adequacy (“Adequacy Decision”) for EU-US transfers of personal data for entities self-certified to the Atlantic Data Privacy Framework (“DPF”).

Entities relying on EU SCCs for transfers to the U.S.

2 unchanged sentences

The UK GDPR also imposes similar restrictions on transfers of personal data from the UK to jurisdictions that the UK Government does not consider adequate, including the U.S.

The UK Government has published its own form of the EU SCCs, known as the International Data Transfer Agreement and an International Data Transfer Addendum to the new EU SCCs.

The UK Information Commissioner’s Office (“ICO”) has also published its own version of the TIA and guidance on international transfers, although entities may choose to adopt either the EU or UK-style TIA.

The UK Government has published its own form of the EU SCCs, known as the International Data Transfer Agreement and an International Data Transfer Addendum to the EU SCCs.

The UK Information Commissioner’s Office (“ICO”) has also published its own version of the TIA, although entities may choose to adopt either the EU or UK-style TIA.

Further, on September 21, 2023, the UK Secretary of State for Science, Innovation and Technology established a UK-U.S.

data bridge (i.e., a UK equivalent of the Adequacy Decision) and adopted UK regulations to implement the UK-U.S.

data bridge (“UK Adequacy Regulations”).

data bridge .

Personal data may now be transferred from the UK under the UK-U.S.

11 unchanged sentences

The 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

Table of Content

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

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.

Moreover, the CPRA significantly modified the CCPA, including by imposing further requirements relating to data minimization and correction;

4 unchanged sentences

New legislation proposed or enacted in various other states will continue to shape the data privacy environment nationally.

For example, Virginia enacted the Virginia Consumer Data Protection Act (“CDPA”), which became effective on January 1, 2023, the Colorado Privacy Act (“CPA”) which became effective on July 1, 2023;

the Utah Consumer Privacy Act (“UCPA”) which became effective December 1, 2023;

and the Connecticut Data Privacy Act, which became effective on July 1, 2023.

For example, states such as Virginia, Colorado, Utah and Connecticut have adopted their own privacy laws and many other states have or are in the process of approving the same.

These state laws are similar to the CCPA and CPRA, but aspects of these state privacy statutes remain unclear, resulting in further legal uncertainty.

Several states have also passed similar privacy laws that will become effective in 2024 or later, including Delaware, Indiana, Iowa, Montana, New Jersey, Oregon, Tennessee and Texas.

The United States federal government is also considering legislation governing privacy and security issues, including the possibility of private rights of action.

Legislation governing privacy and security issues, including the possibility of private rights of action, has also been proposed at the federal level in the United States.

This creates legal uncertainty with respect to federal law as well as the impact such laws will have on state statutes.

8 unchanged sentences

Waste Handling and Disposal

Table of Content

ChargePoint is subject to laws and regulations regarding the handling and disposal of hazardous substances and solid wastes, including electronic wastes and batteries.

15 unchanged sentences

For more information on the potential impacts of government regulations affecting ChargePoint’s business, see “Risks Related to Legal Matters and Regulations” set forth under “Risk Factors” included under Part I, Item 1A.

Table of Content

Research and Development

ChargePoint’s research and development team is responsible for designing, developing, manufacturing, testing and sustaining its products.

ChargePoint has invested significant time and expenses into research and development for its networked charging platform technologies and for its Cloud software.

ChargePoint has invested significant time and expenses into research and development for its networked charging technologies and for the ChargePoint Platform software.

ChargePoint’s ability to maintain and expand its leadership position in the EV charging market depends upon successfully maintaining and expanding its research and development activities.

Historically, ChargePoint has designed and developed its hardware networked charging systems and Cloud software in-house.

Historically, ChargePoint has designed and developed its hardware networked charging systems and ChargePoint Platform software in-house.

ChargePoint intends to expand its research and development activities through the use of third-party contract manufacturers and design service partners in order to accelerate its hardware development timelines and leverage engineering resources and best practices from leading original design manufacturers.

5 unchanged sentences

patents issued and 19 U.S.

pending non-provisional patent applications, 24 U.S.

pending design patent applications, and two U.S.

provisional applications pending.

pending patent applications.

Additionally, ChargePoint had 38 issued foreign patents and 12 foreign patent applications currently pending in various foreign jurisdictions.

In addition, as of January 31, 2024, there were three pending Patent Cooperation Treaty applications.

In addition, as of January 31, 2025, there were six pending Patent Cooperation Treaty applications.

These patents relate to various EV charging station designs and/or EV charging functionality.

2 unchanged sentences

ChargePoint’s issued patents, and any future patents issued to ChargePoint, may be challenged, invalidated or circumvented, may not provide sufficiently broad protection and may not prove to be enforceable inactions against alleged infringers.

Table of Content

ChargePoint enters into agreements with its employees, contractors, customers, partners and other parties with which it does business to limit access to and disclosure of its technology and other proprietary information.

2 unchanged sentences

The enforcement of ChargePoint’s intellectual property and proprietary rights also depends on any legal actions ChargePoint may bring against any such parties being successful, but these actions are costly, time-consuming and may not be successful, even when ChargePoint’s rights have been infringed, misappropriated or otherwise violated.

ChargePoint intends to continue to regularly assess opportunities for seeking patent protection for those aspects of its technology, designs and methodologies that ChargePoint believes provide a meaningful competitive advantage.

However, ChargePoint’s ability to do so may be limited until such time as it is able to generate cash flow from operations or otherwise raise sufficient capital to continue to invest in ChargePoint’s intellectual property.

5 unchanged sentences

ChargePoint strives to become the employer of choice within its industry, facilitating the transition to electric mobility by placing its talent at the heart of its success.

To achieve this mission, ChargePoint aims to develop its individual, team and leadership capabilities, attract the best talent from diverse backgrounds, retain its talent through a variety of means including competitive rewards and benefits, creating a winning culture, and engaging its talent by building a culture of feedback, inclusion and recognition.

Key focus and investment areas to achieve this goal include, among others, diversity and inclusion, emphasis on ethical business practices, and employee safety and wellness.

Diversity and Inclusion .

ChargePoint believes that by cultivating a diverse and inclusive workforce where employees can bring diversity of thought, background and experiences, ChargePoint will ultimately drive better business outcomes and drive value for the organization and customers.

This commitment includes adopting policies and other initiatives designed to provide equal access to, and participation in, equal employment opportunities, programs, and services without regard to race, religion, color, national origin,

Table of Content

disability, sex, sexual orientation, or gender identity.

ChargePoint’s Compensation and Organizational Development Committee of its Board of Directors reviews and provides feedback on ChargePoint’s diversity and inclusion initiatives.

To achieve this mission, ChargePoint aims to develop its individual, team and leadership capabilities, attract the best talent from a range of backgrounds, retain its talent through a variety of means including competitive rewards and benefits, creating a winning culture, and engaging its talent by building a culture of feedback, inclusion and recognition.

Key focus and investment areas to achieve this goal include, among others, inclusion, emphasis on ethical business practices, and employee safety and wellness.

ChargePoint believes that by cultivating an inclusive workforce where employees can bring a variety of thought, background and experiences, ChargePoint will ultimately drive better business outcomes and drive value for the organization and customers.

This commitment includes adopting policies and other initiatives designed to provide equal access to, and participation in, equal employment opportunities, programs, and services.

ChargePoint’s Compensation and Organizational Development Committee of its Board of Directors reviews and provides feedback on ChargePoint’s inclusion initiatives.

Ethical Business Practices.

14 unchanged sentences

In addition, the SEC maintains an internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC at www.sec.gov.

Table of Content

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