On July 17, 2025, Enovix Corporation, a Delaware corporation (the "Company"), announced that the Board of Directors of the Company declared a distribution (the "Warrant Distribution") to the holders of record of the Company's common stock, par value $0.0001 per share (the "Common Stock"), in the form of warrants to purchase shares of Common Stock (the "Warrants"). The Warrants were issued on the terms and conditions described in the Warrant Agreement (as defined below and attached as an exhibit hereto) and are being distributed on July 21, 2025, to the holders of record of Common Stock as of the close of business on July 17, 2025 (the "Record Date").