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Wallbox's Quasar 2 Receives U.S. Product Certification from UL Solutions

1. Wallbox's Quasar 2 received UL certification for DC EV chargers. 2. Quasar 2 is the first compatible with CCS1, improving market position. 3. Expected launch promotes home energy management and safety standards. 4. UL Solutions emphasizes reliability, boosting confidence in Wallbox's innovation.

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FAQ

Why Bullish?

The certification enhances product credibility and market competitiveness, reminiscent of Tesla's impactful certifications.

How important is it?

The UL certification significantly boosts Wallbox's potential in the growing EV market.

Why Short Term?

Immediate sales anticipated with Quasar 2's launch, similar to prior successful product launches.

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BARCELONA, Spain--(BUSINESS WIRE)--Wallbox, (NYSE:WBX) a global leader in electric vehicle (“EV”) charging and energy management solutions, announced that Quasar 2, its latest bidirectional charger, has received a certificate of compliance from UL Solutions for the U.S. market. Quasar 2, which now bears the UL Mark, is officially the first bidirectional charger to meet principal safety standards for DC EV chargers using a CCS1 connector. "Obtaining the UL certification for Quasar 2 marks a significant achievement for Wallbox and showcases our world-class engineering capabilities and ability to bring cutting-edge solutions to market," said Enric Asunción, CEO of Wallbox. "Receiving the UL Mark not only underscores our dedication to upholding the highest industry standards, but also positions us at the forefront of EV charging innovation. We expect to launch Quasar 2 in the near term and believe it has the potential to revolutionize home energy management." “This achievement reinforces UL Solutions’ focus on capabilities that serve the EV market with services that help increase confidence in products’ performance, reliability and safety,” said Jeff Smidt, senior vice president of Industrial Testing, Inspection and Certification at UL Solutions. “We are proud to play a part in the Wallbox journey to meet the demand for EV charging equipment.” Quasar 2 is Wallbox’s next-generation bidirectional DC charger that enables advanced V2X functionality, including powering a home during a power outage. Its compact and award-winning design makes it suitable for residential installations. Quasar 2, which is expected to launch in the near future, is compatible with EVs using ISO 15118-20, the industry standard for bidirectional charging. Quasar 2 is certified according to UL 9741, 2nd edition of the Outline of Investigation for Electric Vehicle Power Export Equipment (EVPE), UL 2231-2, the Standard for Personnel Protection Systems for Electric Vehicle (EV) Supply Circuits: Particular Requirements for Protection Devices for Use in Charging Systems and UL 1741, the Standard for Inverters, Converters, Controllers and Interconnection System Equipment for Use With Distributed Energy Resources. About Wallbox Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 115 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the private placement. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; as well as the other important factors discussed and incorporated by reference under the heading "Risk Factors" in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023, and as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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