Description of Turnongreen's Business Segments

The company operates two reportable business segments: power solutions and electric vehicle (EV) charging solutions. The Power Electronic Segment competes globally with firms such as Bel Fuse, Artesyn Embedded Technologies, TDK-Lambda, Delta Electronics, Murata, and Mean-Well Power Supplies. This segment focuses on advanced technology, customization, compact designs, and flexibility, offering adjustable power ranges and selectable output platforms. It provides rapid and cost-effective modifications to meet original equipment manufacturer (OEM) requirements, often without charging non-recurring engineering (NRE) fees. The Electric Vehicle Supply Equipment and Network Segment competes in the North American market against companies including Tesla, ChargePoint, Blink Charging, EVGO, Electrify America, and Sema Connect. The EV charging market is segmented into public open network Level 2 and DC fast charging (DCFC), commercial fleet closed network charging, and residential single- and multi-family home charging. The segment anticipates market consolidation and standardization will support its market segmentation strategy, strategic partnerships, and product development, with a focus on residential and commercial closed network charging as primary growth areas.

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