Farasis Energy: The lithium battery export control measures have almost no significant impact on the company's current operations

Farasis Energy stated on October 21st on the interactive platform that regarding the impact of the Ministry of Commerce's export control measures on lithium batteries on the company, after the company's assessment, these measures have almost no significant impact on the company's current operations for the following main reasons: In terms of the scope of control, the majority of the battery products currently exported by the company are not included in this export control list, and the core export categories are not restricted, so direct export business is not substantially constrained; In terms of capacity layout, the company's Turkish base has successfully completed the capacity ramp-up of 6GWh, and this base, as a scarce high-quality battery capacity in the current overseas market with stable large-scale supply capability, can effectively ensure the order delivery needs of overseas customers, further reducing dependence on direct exports from the domestic market; In terms of the nature of the policy, this export control measure does not prohibit the export of related products, and eligible enterprises can normally carry out export business after completing the application and filing procedures as required. The company has already organized relevant processes in advance and is well-prepared for business continuity