HYZON ANNOUNCES RECEIPT OF ADDITIONAL STAFF DETERMINATION FROM NASDAQ REGARDING 2022 FORM 10-K

Staff Determination letter has no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market

Hyzon Motors Inc. (NASDAQ: HYZN), supplier of zero-emission heavy-duty fuel cell electric vehicles (FCEVs), announced that on April 6, 2023 it received a Staff Determination from the Listing Qualifications Staff of The Nasdaq Stock Market LLC stating that because the Company has not yet filed its Form 10-K for the year ended December 31, 2022, the Company does not comply with the Nasdaq’s Listing Rules for continued listing. The determination is in response to Hyzon’s filing of Form 12b-25 on April 3, 2023, reporting it will not file its 2022 Form 10-K within the prescribed time period.

On March 31, 2023, Hyzon received a letter from the Nasdaq Hearings Panel granting the Company’s request for continued listing until May 15, 2023, to allow the Company to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the “Periodic Filing Rule”). Hyzon’s request was granted subject to the condition that on or before May 15, 2023, the Company shall have filed with the Securities and Exchange Commission all delinquent reports, in compliance with the Periodic Filing Rule.

The Staff Determination letter has no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market. Hyzon intends to respond to the Staff Determination by April 13, 2023.

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