Hyzon Motors Inc. announced on June 24, 2024, the company issued a press release announcing that it had started realigning its strategic priorities to focus on the Company?s core North American markets and the refuse industry. As part of these efforts, the Company determined on July 7, 2024, to wind down its operations in the Netherlands and Australia. In connection with the planned exit activities, the Company expects to incur charges of approximately $17 million, of which approximately $7 million is expected to be in cash. Components of the charges include non-cash inventory write-downs of approximately $7 million, employee-related costs of approximately $3 million, other exit related costs of approximately $4 million, and non-cash impairment charges of approximately $3 million. The Company expects to incur these costs in the second and third quarters of 2024 and make the related cash payments in the third and fourth quarters of 2024.