ESS Reverse Stock Split Statement

On Friday, July 26, 2024, ESS Tech, Inc. (NYSE: GWH) (ESS) filed a preliminary proxy statement with the U.S. Securities and Exchange Commission regarding a special stockholder meeting expected to be held on August 23, 2024 to authorize ESS's Board of Directors to enact a reverse stock split. This routine action follows receipt by ESS of a continued listing notice from the New York Stock Exchange (NYSE) on March 6, 2024 following a 30-day period during which the company's share price remained below $1. ESS continues to meet all other requirements for continued listing on the NYSE. The reverse split is expected to increase the company's share price and bring the company into compliance with NYSE requirements.

ESS intends to remain listed on the NYSE and is committed to deploying long-duration energy storage solutions using iron flow battery technology to meet growing global demand. We are proud to partner with major U.S. and international utilities, developers and service providers to deploy the storage solutions needed to enable renewable energy deployment and deep decarbonization of the grid.

The preliminary proxy statement is available here.

About ESS, Inc.

ESS Tech, Inc. (NYSE: GWH) is a leading manufacturer of long-duration iron flow energy storage solutions. ESS was established in 2011 with a mission to accelerate decarbonization safely and sustainably through longer lasting energy storage. Using easy-to-source iron, salt, and water, ESS iron flow technology enables energy security, reliability and resilience. We build flexible storage solutions that allow our customers to meet increasing energy demand without power disruptions and maximize the value potential of excess energy. For more information visit www.essinc.com.

Forward-Looking Statements

This communication contains certain forward-looking statements regarding ESS and its management team's expectations, hopes, beliefs, or intentions regarding the future. The words "estimate", "expect", "will" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Examples of forward-looking statements include, among others, statements regarding the anticipated effect of the reverse stock split. These forward-looking statements are based on ESS' current expectations and beliefs concerning future developments. Many factors could cause actual future events to differ materially from such expectations, including, but not limited to, the Company's inability to meet continued listing requirements following the reverse stock