Microvast partners with Minespider to implement Battery Passports

27 August, Stafford, TX - Microvast Holdings, Inc. (NASDAQ: MVST) (“Microvast” or the “Company”), a technology innovator that designs, develops, and manufactures lithium-ion battery solutions, is pleased to announce a strategic partnership with Minespider, a technology company offering battery passports compliant with the EU Battery Regulation.

From February 2027, all electric vehicle (EV) batteries, light means of transport (LMT) batteries, and industrial batteries exceeding 2kWh must have a Battery Passport in order to enter the European market. As a highly innovative battery manufacturer, Microvast understands how important it is to act before the regulation comes into force. Minespider will assess and confirm Microvast readiness to comply with EU Battery regulation, followed by implementation of the Battery Passports. The Battery Passport includes information on the battery type, chemistry and performance details, as well as sustainability data. Besides that, Microvast will benefit from the latest AI data management system implemented by Minespider. With the system, companies can upload documents, and the AI automatically extracts relevant data into the battery passport, ensuring all required information is accurately captured. Additionally, the system identifies and highlights any potential gaps in the data, enabling corrective action to maintain compliance with EU Battery Regulation and data integrity.

"Partnering with Microvast is a significant milestone in our mission to drive transparency and sustainability in the battery supply chain. We share Microvast’s vision that every battery component must have “a long-term, large-scale, “vast” positive impact”. We are thrilled to support Microvast in having a comprehensive picture of their batteries and battery components across the entire supply chain and throughout their lifecycle." - Nathan Williams, Founder and CEO of Minespider commented.

“At Microvast, we are committed to leading the industry in sustainable battery innovation and regulatory compliance. Our partnership with Minespider underscores our proactive approach to not only meet but exceed the upcoming EU Battery Regulation. By initiating this cooperation well ahead of the 2027 deadline, we are ensuring that our customers in the European Union can rely on us to deliver batteries that are both technologically advanced and fully compliant with the highest sustainability standards. This collaboration positions Microvast as a prime mover in setting the benchmark for sustainable battery practices.” – Stefan Herr, Executive Vice President EMEA.

Minespider entered the battery market in 2021 and developed its own Battery Passport to help OEMs and battery manufacturers comply with regulation. Minespider works with industry-leading companies from the EV battery market, including Ford Otosan, Renault and TEMSA. Minespider is also a part of the European Battery Alliance (EBA), the EU Commission’s funded project BATRAW, aimed to find new technological ways to recycle critical minerals from EV batteries, as well as the Recirculate project, focused on the creation of a battery materials marketplace and enhancing the circular economy.

About Minespider

Minespider is a technology company offering a blockchain-based platform for tracking supply chain data and creating more sustainable and transparent supply chains. Minespider offers Battery Passports, which are digital IDs of batteries that easily communicate key data across the supply chain and support compliance with the new EU Battery regulation. Companies such as Ford Otosan, Renault, TEMSA use Minespider's technology to drive the shift toward a sustainable future.

About Microvast

Microvast is a global leader in providing battery technologies for electric vehicles and energy storage solutions. With a legacy of over 17 years, Microvast has consistently delivered cutting-edge battery systems that empower a cleaner and more sustainable future. The company's innovative approach and dedication to excellence have positioned it as a trusted partner for customers around the world. Microvast was founded in 2006 and is headquartered in Stafford, Texas.

For more information, please visit www.microvast.com or follow us on LinkedIn (@microvast).

Investor Relations Contact

ir@microvast.com

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