Fluence Energy, Inc. announced that as previously disclosed in the Current Report on Form 8-K of the Company filed with the Securities and Exchange Commission on August 8, 2022, Julian Nebreda was appointed as the Company's new President and Chief Executive Officer, effective September 1, 2022, replacing Manuel Perez Dubuc. In connection with this change of leadership, on August 29, 2022, Mr. Perez Dubuc notified the Board of Directors of the Company of his resignation as a member of the Board, effective August 31, 2022, which resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices. Mr. Perez Dubuc has entered into a separation and release agreement with the Company dated August 24, 2022, pursuant to which, Mr. Perez Dubuc will be entitled to severance benefits in accordance with the terms of the Company's Executive Severance Plan, as if his departure from the Company constituted an Involuntary Termination, and to reimbursement by the Company for certain legal fees incurred in connection with Mr. Perez Dubuc's entry into the Separation Agreement.

The Severance Plan was previously filed as Exhibit 10.1 to the Company's Current Report on Form 8-K filed with the SEC on February 10, 2022.