Nextracker to become standalone company via Flex spin-off expected by March 31, 2024

Nextpower Inc.

Flex will spin off all remaining Nextracker interests to Flex shareholders on a pro rata basis.
Transaction expected to close in Flex's fiscal Q4 ending March 31, 2024, subject to Flex shareholder approval.
Nextracker will file Form S-4 with proxy statement; Merger Notice delivered under Feb 2023 Merger Agreement.
CEO Dan Shugar expressed gratitude for Flex's support and enthusiasm for Nextracker's next chapter.

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