Avtron Power Solutions Newsletter - Issue Oct 22

Carve-Out Roadmap

20 Frequently Asked Questions

These and other Frequently Asked Questions are available online as well (see Helpful Links). Over time, as more information becomes available, we will add to and update our FAQs. About the Transaction Q1. Who can I talk about this with, when, and what can I say? The transaction is official as of September 30, customers and suppliers are being informed this week. You can speak openly about the news with internal and external parties. Q2. What types of investment will Hidden Harbor make? How will these investments benefit the company? Investments will be targeted to accelerate growth. As a standalone company, Avtron Power Solutions will be able to make high-impact investments in people, processes, technology and infrastructure, such as adding, expanding and optimizing manufacturing operations, building a world-class marketing and sales force, investing in the launch of Sigma 3 and establishing critical back-office functions to support sales and operations. Q3. What are Hidden Harbor’s goals for the load banks business? Hidden Harbor’s goal is to create a success story that benefits all of us, including our partners through building teams focused on execution. They see us as the worldwide leader in load bank solutions, with the best team in the industry, a strong customer base and growing markets -- these factors position us extremely well for growth that can be accelerated through investment in our people, processes and technologies, including our standalone infrastructure as well as investments to expand our capacity and optimize our manufacturing capabilities to support growing customer demand. Q4. How involved will Hidden Harbor be or will the day-to-day running be left to Jonathan? Hidden Harbor believes that day-to-day operations is the responsibility of the Avtron Power Solutions team. Joe (in Cleveland) and Jonathan (in UK) will continue to drive the day-to-day factory operations. The Hidden Harbor team will be here to provide the investment capital for growth opportunities and partner with the Avtron team in executing the carveout, making strategic decisions and assisting any way possible, including providing any resources needed to execute the growth opportunities. How does the deal affect me? As part of a growing independent company with the financial backing and resources of a strong private equity sponsor, employees can have the confidence that comes from being part of a growing team with a singular focus on our core load bank business. Investments in engineering, manufacturing, sales, marketing and infrastructure will create new opportunities for advancement and career development. Very little changes for employees on Day 1. Your pay, benefits and employment terms remain the same for a transition period, after which we will transfer everyone to substantially equivalent programs under Avtron Power Solutions. Q6. What will happen to my job? Will there be job changes or job losses as a result of the combination? Most jobs remain unchanged on Day 1, though some roles may evolve to support the standalone business. In addition, we’re hiring several new positions, mostly in previously shared services like IT, Finance, HR, Sales and Marketing, to support the company and replace services previously provided by Schneider/ASCO. Jobs & Organization Q5.

September 2023 Exit Remaining TSAs

March 2023 Carve-Out Milestone (HR)

October 3rd 2022 Avtron Power Solutions Go-Live

September 30th 2022 Transaction Complete