Avtron Power Solutions Newsletter - Issue Oct 22

Q14. Will we continue to sell under the Avtron and Froment brands? We will go to market as Avtron Power Solutions worldwide. Both Avtron and Froment brands are well known and beloved in the market and we intend to continue to leverage that equity going forward while consolidating our brand equity into Avtron, as previously discussed. Q15. Will intercompany sales continue through Schneider Electric? No; as of 1 October, all new orders for load banks will be made with Avtron Power Solutions, LLC (for orders produced in the US) or N.J. Froment (for orders produced in UK). Q16. How will we handle sales and service? As part of the transition services agreement with Schneider Electric, customers will continue to work with their existing sales and service contacts through a period of time following close. Carve-Out Approach Q17. When will the carve-out process start? The carve-out process has already begun and started weeks ago. We have formed a joint carve-out team to coordinate efforts with Schneider and ASCO. We have also brought in a number of third-party experts to help. Q18. What are the main goals of the Carve-out process? • Develop and communicate Avtron Power Solutions standalone identity (mission, vision, values, value proposition, culture and employee engagement) • Enhance senior management team to lead key sales and back-office functional area • Hit key timeline milestones: » Within 6 months: payroll and benefits » Within 12 months: USA ERP, shared service functions, Mexico operations • Limit customer, vendor and employee disruption through teamwork, communication and continuing to serve our customers to the best of our abilities every day Q19. How can I help? First and foremost, keep doing what you do best – providing exceptional quality and service to our customers and keeping our commitments to each other. Second, exercise patience and open-mindedness. Anytime companies and cultures come together, there are growing pains. It will take some time to work through them. Stay engaged, ask questions, share ideas. Q20. Can I still talk to my peers at Schneider Electric/ASCO? Absolutely! We will continue to work closely with Schneider and ASCO colleagues throughout the transition process. However, it is important that we do not share any company confidential information with ASCO/ Schneider after Day 1 unless it is specifically authorized as part of the carve-out planning. The carve-out will focus on achieving four key objectives over the next 12 months:

In the case of employees who previously worked for a Schneider Electric Shared Service (such as Marketing) but are now fully dedicated to Avtron Power Solutions, your job and reporting relationship remain the same for now. As we fully flesh out the long-term organizational structure for Avtron Power Solutions, we will talk with you in detail about any changes to job titles, roles and reporting relationships necessitated by the carve-out transition. Q7. How does this change our 2022 plans and objectives? We ask you to stay focused on current plans while we work to develop long-term plans and consolidated KPIs for 2023 and beyond. Benefits Q8. Will my benefits change? Your current benefits will continue unchanged at least through the end of plan year (Dec. 31), and possibly longer depending upon how quickly we can get new plans and programs set up for the standalone company. We are still evaluating benefit plans and programs for Avtron Power Solutions, but will share details well in advance so you can make thoughtful decisions about future coverage options. While it’s unlikely the plans will be identical to what we have today, our goal is to provide comparable levels of coverage where possible, based on the needs of the new company and our workforce. Q9. What will happen to my pay? Yes; your current years of service will carry over into the new company for purposes of seniority, PTO and vesting of benefits. Q11. Will the Paid Time Off (PTO) policy change after Day 1? No. Existing policies remain in effect for 2022. We will evaluate existing practices and determine if any changes are needed for 2023. Your years of service (seniority) will carry over into the new company for purposes of PTO calculation. Q12. What about [XYZ] policy? Will that change An exciting part of becoming a standalone company is the ability to “write our own playbook,” based on our collective experience, customer needs, and desired culture. In the coming months, we’ll be developing our own Employee Handbook, outlining all of our ways of working and employment policies, plans and programs. In the meantime, we’ll continue with what we have in place. While it’s too soon to say exactly what the future will look like, it is safe to say remote and/or hybrid work is here to stay, at least for some positions. Sales and Service Q13. What will be impact to customers? This is positive news for customers. We will continue to offer the same industry-leading breadth of products and solutions, and our commitment to quality and an outstanding customer experience will not waver. We continue to offer the most advanced and reliable load banks on the market, including SIGMA controls. New investment will allow us to expand our engineering, manufacturing and sales capabilities, providing new testing solutions while shortening lead times. We are working closely with the team at Schneider Electric and ASCO Power Technologies to ensure a seamless customer experience throughout the transition. Pay remains the same. Q10. Are we going to retain our seniority and continue with the service awards?