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Kendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Ancient meets modern as a new subway in Greece showcases archaeological treasures THESSALONIKI, Greece (AP) — Thessaloniki, Greece’s second-largest city, is opening a new subway system, blending ancient archaeological treasures with modern transit technology like driverless trains and platform screen doors. The project, which began in 2003, uncovered over 300,000 artifacts, including a Roman-era thoroughfare and Byzantine relics, many of which are now displayed in its 13 stations. Despite delays caused by preserving these findings, the inaugural line has been completed, with a second line set to open next year. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. At least 19 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 19 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 167,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat sent to restaurants nationwide. Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli, which can cause life-threatening infections. No illnesses have been reported outside of Minnesota. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration. Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star NEW YORK (AP) — Jonathan Majors’ ex-girlfriend has dropped her assault and defamation lawsuit against the once-rising Hollywood star after reaching a settlement. Lawyers for Majors and Grace Jabbari agreed to dismiss the case with prejudice Thursday. Jabbari is a British dancer who had accused Majors of subjecting her to escalating incidents of physical and verbal abuse during their relationship. Representatives for Majors didn’t respond to emails seeking comment Friday. Jabbari’s lawyer said the suit was “favorably settled” and her client is moving on with “her head held high.” Majors was convicted of misdemeanor assault and harassment last December and sentenced to a yearlong counseling program. Hyundai, Kia recall over 208,000 electric vehicles to fix problem that can cause loss of power DETROIT (AP) — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The recalls cover more than 145,000 Hyundai and Genesis vehicles including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from 2022 through 2024. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed. They also will update software. Christmas TV movies are in their Taylor Swift era, with two Swift-inspired films airing this year Two of the new holiday movies coming to TV this season have a Taylor Swift connection that her fans would have no problem decoding. “Christmas in the Spotlight” debuts Saturday on Lifetime. It stars Jessica Lord as the world’s biggest pop star and Laith Wallschleger, playing a pro football player, who meet and fall in love, not unlike Swift and her boyfriend, Kansas City Chiefs tight end Travis Kelce. On Nov. 30, Hallmark will air “Holiday Touchdown: A Chiefs Love Story.” Instead of a nod to Swift, it’s an ode to family traditions and bonding, like rooting for a sports team. Hallmark’s headquarters is also in Kansas City. Top football recruit Bryce Underwood changes commitment to Michigan instead of LSU, AP source says ANN ARBOR, Mich. (AP) — Top football recruit Bryce Underwood has flipped to Michigan after pledging to play at LSU. That's according to a person familiar with the situation who spoke to The Associated Press on condition of anonymity because they were not authorized to share the recruit’s plans to join the Wolverines. Underwood pinned a post on his Instagram account, showing a post in which On3.com reported that he has committed to Michigan. The 6-foot-3 quarterback played at Belleville High School about 15 miles east of Michigan's campus, and told LSU nearly a year ago he intended to enroll there. Emperor penguin released at sea 20 days after waddling onto Australian beach MELBOURNE, Australia (AP) — The only emperor penguin known to have swum from Antarctica to Australia has been released at sea 20 days after he waddled ashore on a popular tourist beach. The adult male was found on Nov. 1 on sand dunes in temperate southwest Australia about 2,200 miles north of the Antarctic coast. He was released Wednesday from a boat that traveled several hours from Western Australia state's most southerly city of Albany. His caregiver Carol Biddulph wasn't sure at first if the penguin would live. She said a mirror was important to his rehabilitation because they provide a sense of company. Biddulph said: “They’re social birds and he stands next to the mirror most of the time.”

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At 50, Hilary Swank is an Oscar winner, a runway model, a philanthropist, producer and a mother – but it turns out her 20-month-old twins make her feel 20 years younger. "I feel like I'm 30 because I have 20-month-old babies," Hilary told Hoda Kotb and Jenna Bush Hage r on Today this week, as she spoke for the first time about how her children, Aya and Ohm , are old enough to truly find awe in the Christmas experience. "Everything is new again," she said. "You hear that, but until you experience it you're like 'What does that even mean?' But now I know." Watch Hilary speak to Hoda and Jenna below: Hilary went on to share that having children has made "every time of year more special," and that "every day with them is so divine". "It's such a blessing, and I feel so grateful and I'm so happy." Hilary and husband Philip Schneider welcomed their twins in April 2023 after getting married in August 2018. However, she waited until Valentine's Day in February 2024 before she finally revealed their unique names. An image posted on Instagram showed her twins sitting on a beach with their backs to the camera and their names, Aya and Ohm, inscribed in the sand behind them. Hilary Swank celebrates 50! A look back at her sweetest family moments in photos "I have a busy week of talk shows ahead where I'll be sharing about my new film and a fun partnership, but I figured what better day to share the names of my two little loves with you all first," she wrote. She added: "Thanks for being here!! Happy Valentine's Day. P.S. Who else has babies that think sand is edible?" The name Aya for their daughter was inspired by a courageous Syrian refugee girl she and her husband met in Lebanon, while Ohm draws from a universal concept. "[Aya] was just this courageous, brave young girl full of life going through a really difficult time. My husband and I were like, she's so beautiful, what a great name," Hilary shared on Today earlier 2024, adding: "Ohm is considered the first universal sound and unites all people." Hilary has kept the faces of her young babies private, but has been open with sharing their new experiences with her social followers. In August the Boys Don't Cry star took to Instagram to share an adorable photo of herself in the cockpit of an airplane, cradling one of her baby twins. "Surprise... Amelia has been found!" she humorously captioned the post, a playful nod to aviation legend Amelia Earhart. "After 24 hours of travel with 2 babies who refuse to sleep on planes, we decided to take our final flight home into our own hands," Hilary joked, before quickly clarifying: "Kidding!!"

Patrick Mahomes praised Bryce Young for his gutsy performance in the Kansas City Chiefs' close victory over the Carolina Panthers. "I thought he played his tail off, man. He throws a really good football," Mahomes said, via Sports Illustrated's Ryan Phillips . After a 1-7 start to the season, the Panthers have won two of their last three games, including a loss on Sunday to the Chiefs by a walk-off field goal. "I think it's been cool to see him bounce back these last few weeks and play some great football, because I know he has it because I've seen it for a long time," Mahomes said, per Phillips. "He gave us a scare today, man. He played his tail off... He's been a great player for a long time and won a lot of football games." Young had a stellar day, nearly keeping pace with the three-time Super Bowl champion. The 23-year-old completed 21-of-35 passes for 263 yards, one touchdown and one fumble. On the other end of the field, Mahomes completed 27-of-37 passes for 269 yards, three touchdowns and one fumble. Mahomes' sentiments toward Young were shared with Chiefs head coach Andy Reid. "I think he did a heck of a job," Reid told reporter post-game. "Well-coached. He's lucky to have a red head over there, No. 14 (Andy Dalton) too, to help him out. A veteran player that kind of sees things the same way you do." Although Young and the Panthers hold a 3-8 record and sit last in the NFC South, the team is not throwing in the towel as they continue to show inprovement. The Panthers will look to bounce back from their tough loss as they face the Tampa Bay Buccaneers next Sunday at home.ASPI Investors Have Opportunity to Lead ASP Isotopes Inc. Securities Fraud Lawsuit

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An ongoing knee concern means Australian captain Alyssa Healy is no certainty to take back the wicketkeeping gloves during next month’s blockbuster Ashes series. Healy planned to test her troublesome knee behind the stumps in a warm-up game for the Governor-General’s XI against England on January 9 three days before the series opener. But the skipper left the door open for Beth Mooney to keep the gloves during the multi-format series as both were locked into a 14-player squad for the limited overs games. After missing the successful New Zealand series with a knee injury, Sophie Molineux was the key absentee from the squad as Cricket Australia confirmed she would undergo surgery in January. All-rounder Heather Graham was omitted after touring in New Zealand, with young opener Georgia Voll holding her spot in the squad after a superb debut campaign against India. Voll was not called upon in New Zealand as Healy returned to the top of the order as a specialist bat, but the captain said it was exciting to have the powerful right-hander ready to go if needed during the Ashes. “A little bit frustrating for myself personally, because every time someone comes in to take my spot they’ve made runs,” Healy joked. “(But) it’s been amazing, and I think just to see the depth in Australian cricket is there and young players in particular. “It’s been exciting to have (Voll) along for the ride, and obviously to be selected in this squad is justice for what she’s done this summer.” Healy said it would be challenge to keep her knee healthy through the series, suggesting it was no guarantee she would take back the gloves. “(To keep is) the plan – obviously (I’m) named in the Governor-General’s squad and that will be a great opportunity for me to take the gloves for a little bit and see how everything is progressing,” she said. “It’s kind of play it by ear at the moment to see how everything pulls up, but I did thoroughly enjoy running around the field in New Zealand, so if that’s the option and it’s less disruptive to our side, then that could be the way moving forward. “My main niggle concern at the moment is my knee, and having an angry joint in there and flaring that up ... that will be the real test in the next 10 days moving into the series, as to how that pulls up, how that responds to me keeping again.” Top-order option Grace Harris was named for the three T20 games only, leaving 13 players to choose from for the opening 50-over games with a squad for the historic MCG day-night Test still to come. Healy said the delay naming the Test squad was partly to ensure Australia found the right bowling mix based on the conditions and domestic form. It left the door open for the likes of left-arm quick Lauren Cheatle, who played in last year’s Test in India, or WA teenager Chloe Ainsworth to figure in the longer format. “I think you look at the way we’ve shaped up in Test cricket over the last couple of seasons, it’s looked a little bit different to what we’ve done in the white-ball format,” Healy said. “We’ll probably look at that over the next few weeks just to see where all the bowlers in domestic cricket are at and their loads ... and how they’re going to prepare for a Test match. “Knowing it’s pink-ball, knowing it swings a little bit more and what the conditions are going to be like, I think there’s a few players around the country at the moment that could stick their hand up for a baggy green.” Australia’s ODI and T20I Ashes Squad Alyssa Healy (c,wk), Darcie Brown, Ash Gardner, Kim Garth, Alana King, Phoebe Litchfield, Tahlia McGrath, Beth Mooney, Ellyse Perry, Megan Schutt, Annabel Sutherland, Georgia Voll, Georgia Wareham, Grace Harris (T20s only) FIXTURE January 12: 1st ODI, North Sydney Oval January 14: 2nd ODI, Junction Oval January 17: 3rd ODI, Bellerive Oval January 20: 1st T20I, SCG (N) January 23: 2nd T20I, Manuka Oval (N) January 25: 3rd T20I, Adelaide Oval (N) January 30 – Feb 2: Ashes Test, MCG (D/N) Multi-format scoring system: Teams get two points for an ODI or T20I win and four points for a Test victory. Australia retained the urn in 2023 after the series was drawn 8-8. Originally published as Alyssa Healy continues to manage knee injury ahead of Ashes seriesGanghwa, South Korea: For seven years, Kim Seongmin has been facing a cancer that has spread to his lungs, brain and liver. Doctors recently gave him only months to live. He can’t sleep at night without painkillers. Still, Kim broadcasts into North Korea twice a day, bringing its people news and information they are cut off from because of strict censorship laws. “North Korea is keeping its people like frogs trapped in a deep well,” ​said Kim​, 62, during an interview at his rural home on this island west of Seoul, where he records and edits shows for Free North Korea Radio. “We broadcast to help them realise that there is something wrong with their political system.” Kim Seongmin, president of Free North Korea Radio, edits content for the station at his home on Ganghwa Island, west of Seoul, South Korea. Credit: Chang W. Lee/The New York Times For two decades, North Korean defectors living in South Korea have been infiltrating the North with outside news and entertainment, through balloons floated across the border or broadcasts such as those from Kim’s radio station. But Kim Jong-un, the North Korean leader, has grown increasingly sensitive to “anti-socialist and non-socialist” influences that could threaten his totalitarian grip on power, and he is cracking down on such efforts like never before. Authorities are searching homes and pedestrians, meting out harsh punishments, including public executions, to people who consume news and TV dramas ​from South Korea, or even if they sing, speak​, dress ​and text-message like South Koreans, according to North Korean documents and a South Korean government report. Bottles filled with rice and packages, each containing propaganda posters, a US dollar bill and a Bible, which Kim Seongmin’s group plans to send to North Korea. Credit: Chang W. Lee/The New York Times North Korea has been flexing its military muscle beyond the Korean Peninsula by sending troops and weapons to Russia to support its war against Ukraine. But at home, Kim Jong-un is reinforcing the country’s defences against foreign influences. He has built more walls along North Korea’s border with China, giving soldiers there a shoot-to-kill order to stop an outflow of refugees and an influx of people smuggling outside goods and information. He has destroyed ​his country’s few roads and railways linking to South Korea​, after declaring that the North was no longer interested in reunification with the South. And he has introduced a slate of draconian new censorship laws.Uddhav Thackeray’s move to gradually turn to aggressive Hindutva to safeguard his support base has angered the Samajwadi Party, which has threatened to disassociate itself from the opposition coalition Maharashtra Vikas Aghadi (MVA). On Saturday, when the three-day special session of the Maharashtra assembly commenced for the oath-taking ceremony of the newly elected MLAs and the election of the assembly speaker, MVA MLAs walked out to protest against the alleged manipulation of EVMs in the assembly elections. However, two Samajwadi Party MLAs, Abu Azmi and Rais Shaikh, went ahead and took their oaths. The rift began on December 6 when Shiv Sena (UBT) party secretary Milind Narvekar posted an image of the Babri Masjid demolition on social media with pictures of Bal Thackeray and the latter’s remark that he was proud of those who had demolished the mosque. Photographs of party chief Uddhav Thackeray and Aaditya Thackeray were also posted. The post and pictures kicked up a row, and Rais Shaikh expressed his anger on social media. “This is to remind you that the Shiv Sena (UBT) enjoyed enormous support from secular votes in the Lok Sabha and Vidhan Sabha elections. The glorification of the dark day in India’s history is uncalled-for and unwarranted. I strongly condemn such glorification,” he said in a post. Azmi said there was “no co-ordination in the MVA during the seat-sharing talks for the assembly polls and the campaign”. READ | On Abu Azmi's MVA exit declaration, SP says ‘national leadership to decide’ “Now, as per reports, after the defeat in the assembly elections, Uddhav Thackeray has asked his party leaders and workers to aggressively pursue the Hindutva agenda,” he said. “Yesterday, party leader Narvekar posted a message supporting the demolition of the Babri mosque. We cannot tolerate this so we are reconsidering our alliance with the MVA.” One of the reasons for the party’s debacle seems to be its traditional voters ditching it as a result of the Mahayuti’s allegations that the Thackeray faction ditched Hindutva for Muslim votes. In the party’s preparations for the upcoming civic polls, Thackeray has asked his workers to aggressively pursue Hindutva to counter the Mahayuti. Narvekar’s act is seen as part of the same strategy. Recently, the Shiv Sena (UBT) raised questions about the assaults on Hindus in Bangladesh and reached out to railway minister Ashwini Vaishnav to protect the Hanuman temple at Dadar Central railway station from demolition. Milind Narvekar did not respond to calls and messages about his post. Shiv Sena (UBT) MLA Sunil Raut, while reacting to Azmi’s statement, said, “I am not aware if Azmi has had a discussion with his party leadership before making this statement. As far as our stand on it is concerned, the party leadership will decide.” Rais Shaikh, when asked about the decision of the two Samajwadi Party MLAs to take oath, said, “We were not informed about the decision to not to take oath, so we did. It was just a communication issue. We are in alliance with MVA.” However, Shaikh added that his party had reservations about the Shiv Sena (UBT) pursuing aggressive Hindutva. “They should stay away from it,” he said. “If they continue with this stand in the coming days, we will rethink the alliance.”

Revenue of $44.6M with $4M Adjusted EBITDA1 (6th Consecutive Positive Quarter) Historic Positive Cash Flow from Operations and Improved Gross Margins Approval of $51million direct loan from The Export-Import Bank of the United States expected to fund Electrovaya's lithium ion cell and battery manufacturing facility in Jamestown, New York Removal of Going Concern note in the financial statements due to improved financial performance TORONTO, ONTARIO / ACCESSWIRE / December 12, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today reported its financial results for the fourth quarter and fiscal year ended September 30, 2024 ("Q4 2024" & "FY 2024", respectively). All dollar amounts are in U.S. dollars unless otherwise noted. Financial Highlights: Revenue for FY 2024 was $44.6 million, compared to $44.1 million in the fiscal year ended September 30, 2023 ("FY 2023"). Gross margin was 30.7% in FY 2024, an improvement of 377 basis points compared to FY 2023. Battery system margins remained strong at 31.3% for the fiscal year. Adjusted EBITDA1 was $4.1 million, a significant improvement of $0.8 million compared to $3.3 million in FY 2023. Q4 2024 was the Company's sixth consecutive quarter of positive Adjusted EBITDA1. The Company generated positive cash from operating activities of $1.0 million for FY 2024, compared to cash used in operating activities of $5.2 million in FY2023, a significant improvement in operating cash flow of $6.2 million. Given the improved financial performance of the Company, management and the Company's auditors concluded that the going concern note in the company's financial statements is no longer required. Key Operational and Strategic Highlights - Q4 FY 2024 & Subsequent Events: Added New Global Construction Equipment OEM customer: The Company announced the receipt of its first purchase orders from a global Japanese-headquartered manufacturer of construction equipment. Electrovaya will be powering an electric excavator product line with an estimated scaled production start in 2026. The initial shipments are expected to be delivered in Q2 FY2025 to a manufacturing site in Japan. Sumitomo Corporation Power and Mobility is the trading company partner. Received Follow-On Orders from Global Aerospace & Defense Company: The Company announced repeat orders following significant validation testing for its high voltage battery systems from a Global Aerospace and Defense company. The Company believes that its products and technologies provide mission critical sectors, including defense applications, key competitive advantages due to inherent safety and performance benefits. Received Direct Loan Approval from Export-Import Bank of the United States: On November 14, 2024, the Company announced that it had secured approval for a direct loan in the amount of US$50.8 million from the Export-Import Bank of the United States ("EXIM") under the bank's "Make More in America" initiative. This financing is expected to fund Electrovaya's battery manufacturing buildout in Jamestown, New York including equipment, engineering and setup costs for the facility. Electrovaya is currently in the process of finalizing loan documentation and terms with an anticipated funding date in CY Q1 2025. Continued Growth from Leading End-Customers: The Company recently announced new orders from its two largest end customers, including a Fortune 100 e-commerce company and a leading Fortune 500 retailer. These orders are significant due to both the renewed demand and in the case of the Fortune 500 retailer, an intention to revamp its significant existing warehouse infrastructure. Management Commentary: "Electrovaya, with its core technology advantages and proven performance, is poised to lead mission-critical and heavy-duty energy storage solutions," said Dr. Raj DasGupta, Electrovya's CEO. "With growing demand from existing and new customers, we expect robust growth in 2025 and onwards. This includes increasing revenue, enhancing profitability, and expanding domestic lithium-ion cell manufacturing in the U.S." "Reaching record revenue, achieving six consecutive quarters of positive adjusted EBITDA1, generating positive cash flow from operations, and removing the going concern note are pivotal milestones for Electrovaya," stated John Gibson, Electrovaya's CFO. "These achievements solidify our financial position and set the stage for anticipated revenue growth exceeding $60 million with profitability in Fiscal 2025, driven by strong demand from key end users. Finally, the approved $51 million direct loan by the Export-Import Bank of the United States will support building up additional domestic manufacturing capacity and vertical integration to support our anticipated growth beyond 2026. " Positive Financial Outlook & Fiscal 2025 Guidance: The Company anticipates strong growth into FY2025 with estimated revenues to exceed $60 million driven by renewed demand from the Company's largest end users of material handling batteries. This guidance considers its existing purchase orders, along with anticipated orders in its pipeline from key end users and customers. This guidance also takes into consideration a percentage of anticipated revenue that may be deferred to FY 2026 (please see Forward Looking Statements for further clarification). Selected Annual Financial Information for the Years ended September 30, 2024, 2023 and 2022: Results of Operations (Expressed in thousands of U.S. dollars) Summary Financial Position (Expressed in thousands of U.S. dollars) Cash flow statement (Expressed in thousands of U.S. dollars) Quarterly Results of Operations (Expressed in thousands of U.S. dollars) 1 Non-IFRS Measure: Adjusted EBITDA is defined as income/(loss) from operations, plus stock-based compensation costs and depreciation and amortization costs. Adjusted EBITDA does not have a standardized meaning under IFRS. Therefore it is unlikely to be comparable to similar measures presented by other issuers. Management believes that certain investors and analysts use adjusted EBITDA to measure the performance of the business and is an accepted measure of financial performance in our industry. It is not a measure of financial performance under IFRS, and may not be defined and calculated in the same manner by other companies and should not be considered in isolation or as an alternative to IFRS measures. The most directly comparable measure to Adjusted EBITDA calculated in accordance with IFRS is income (loss) from operations. The Company's complete Financial Statements and Management Discussion and Analysis for the fourth quarter and fiscal year ended September 30, 2024 are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov , as well as on the Company's website at www.electrovaya.com . Conference Call & Webcast details: Date: Thursday, December 12, 2024 Time: 5:00 pm. Eastern Standard Time (EST) Toll Free: 888-506-0062 International: 973-528-0011 Participant Access Code: 193374 Webcast: https://www.webcaster4.com/Webcast/Page/2975/49582 To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call. For those unable to participate in the conference call, a replay will be available for two weeks beginning on December 13, 2024 through December 27, 2024. To access the replay, the dial-in number is 877-481-4010 and 919-882-2331. The replay access ID is 49582. Investor and Media Contact: Jason Roy Director, Corporate Development and Investor Relations Electrovaya Inc. jroy@electrovaya.com 905-855-4618 Brett Maas Hayden IR elva@haydenir.com 646-536-7331 About Electrovaya Inc. Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications.Electrovaya has two operating sites in Canada and a 52-acre site with a 135,000 square foot manufacturing facility in Jamestown New York state for its planned gigafactory. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com . Forward-Looking Statements This press release contains forward-looking statements, including statements that relate to, among other things, revenue growth and revenue guidance of approximately $60 million in FY 2025, other financial projections, including projected sales, cost of sales, gross margin, working capital, cash flow, and overheads anticipated in FY 2025, the expected timing of deliveries of pre-production battery modules in Japan, anticipated cash needs and the Company's requirements for additional financing, purchase orders, mass production schedules, funding from EXIM and the ability to satisfy the conditions to drawing on any facility entered into with EXIM,, use of proceeds of the EXIM facility,, ability to deliver to customer requirements. Forward-looking statements can generally, but not always, be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors and assumptions are applied in making forward looking statements, and actual results may differ materially from those expressed or implied in such statements. In making the forward-looking statements included in this news release, the Company has made various material assumptions, including but not limited to assumptions with respect to the Company's customers deploying its products in accordance with communicated intentions, the Company's customers completing new distribution centres in accordance with communicated expectations, intentions and plans, anticipated new orders in FY 2025 based on customers' historical patterns and additional demand communicated to the Company and its partners, but not yet provided as a purchase order together with the Company's current firm purchase order backlog totaling approximately $80 million, a discount of approximately 25% used in the revenue modeling applied to the overall expected order pipeline to account for potential delays in customer orders, expected decreases in input and material costs combined with stable selling prices in FY 2025, delivery of ordered products on a basis consistent with past deliveries, and that the Company's customer counterparties will meet their production and demand growth targets, ]the Company's ability to successfully execute its plans and intentions, including with respect to the entry into new business segments and servicing existing customers, the availability to obtain financing on reasonable commercial terms, including any EXIM facility. Factors that could cause actual results to differ materially from expectations include but are not limited to customers not placing orders roughly in accordance with historical ordering patterns and communicated intentions, macroeconomic effects on the Company and its business, and on the lithium battery industry generally, not being able to obtain financing on reasonable commercial terms or at all, including not being able to satisfy any condition of drawdowns under any EXIM facility if entered into, that the Company's products will not perform as expected, supply and demand fundamentals for lithium-ion batteries, the risk of interest rate increases, persistent inflation in the United States and Canada and other macroeconomic challenges, the political, economic, and regulatory and business stability of, or otherwise affecting, the jurisdictions in which the Company operates, including new tariff regimes. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Annual Information Form for the year ended September 30, 2023 under "Risk Factors", and in the Company's most recent annual and interim Management's Discussion and Analysis under "Qualitative And Quantitative Disclosures about Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities and filed or furnished with the SEC.. The Company does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law. Revenue guidance for FY2025 described herein constitute future‐oriented financial information and financial outlooks (collectively, "FOFI"), and generally, is, without limitation, based on the assumptions and subject to the risks set out above under "Forward‐Looking Statements". Although management believes such assumption to be reasonable, a number of such assumptions are beyond the Company's control and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. FOFI is provided for the purpose of providing information about management's current expectations and plans relating to the Company's future performance, and may not be appropriate for other purposes. The FOFI does not purport to present the Company's financial condition in accordance with IFRS, and it is expected that there may be differences between audited results and preliminary results, and the differences may be material. The inclusion of the FOFI in this news release disclosure should not be regarded as an indication that the Company considers the FOFI to be a reliable prediction of future events, and the FOFI should not be relied upon as such. SOURCE: Electrovaya Inc. View the original on accesswire.com