Sumitomo Corporation, Sumitomo Mitsui Financial Leasing Co., Ltd. (SMFL) and Gogoro Inc. explore first-ever partnership to accelerate Gogoro's global business expansion

Sumitomo CorporationSMFL, a leading integrated trading house and one of the world's premier financial institutions, is seeking collaboration support Gogoro's Global business expansion while creating new business opportunities Sumitomo Corporation and SMFL.

Taipei, April 29, 2024 /PRNewswire/—— gogoro co., ltd. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that provide sustainable transportation solutions for cities, today announced the signing of a non-binding Memorandum of Understanding (“MOU”), which The first step in establishing a new partnership and Sumitomo Corporation and Sumitomo Mitsui (NYSE:) Financial Leasing Co., Ltd. (“SMFL”) accelerated Gogoro's Global business expansion while providing Sumitomo and SMFL have new and unique opportunities to expand their mobile business and secondary battery use cases using Gogoro smart batteries and battery replacement.

Gogoro's Innovative business ecosystems aim to create wider commercial partnerships and business models that were not previously possible. today, Sumitomo and SMFL are looking to accelerate Gogoro's Global business expansion, while using Gogoro smart batteries and battery replacement to drive the expansion of its mobile business and secondary battery revenue,” explain horace lukefounder and CEO Gogoro. “Together, Gogoro, Sumitomo and SMFL share a vision to accelerate the expansion of sustainable energy and transportation in the world's most densely populated cities.

Gogoro Leveraging big data from its innovative smart batteries and battery swapping platforms to transform energy, making it more sustainable and accessible. Gogoro Instantly track dozens of parameters such as battery condition, population distribution, and environmental conditions to provide unique and critical insights Gogoro. With nearly a decade of real-world data and new inputs being analyzed every moment, Gogoro Battery replacement just got smarter.

Sumitomo Involved in a wide range of areas of the automotive industry Japan and overseas, from vehicle engineering and manufacturing to sales, after-sales service and energy management. In the field of tourism services, Sumitomo Involving car rental, car finance, electric vehicle related businesses, personal subscription business, and parking lot business.

memorandum of understanding signal Sumitomo and SMFL are interested in supporting Gogoro's Expand global operations by leveraging its global network and knowledge gained from existing operations.

SMFL's mid-term business plan strategy includes the realization of a circular economy, which it plans to promote through the creation of battery reuse and recycling businesses. Gogoro's Smart Batteries and plans to use smart batteries to seek new and unique business opportunities Gogoro's Smart batteries serve as a new asset class for secondary sustainable energy use in mobile devices.

Gogoro's Potential partnerships Sumitomo SMFL, a global leader in financing and leasing, will leverage Gogoro Smart batteries create new business opportunities Sumitomo and SMFL exploit Gogoro's batteries to expand its mobile business and generate secondary battery revenue,” explain Bruce AikenCFO Gogoro. “Among many new business opportunities, this partnership will bring a new asset-light expansion model to the company. Gogoro This does not require significant upfront capital investment while improving financial efficiency in our new markets.

about Sumitomo Corporation
Sumitomo Corporation (TYO: 8053) is an integrated trading company with a strong global network of 129 offices in 66 countries and regions. Sumitomo Corporation The combined company has approximately 900 companies and 80,000 employees. The Group's business activities are spread across nine groups: Steel, Automotive, Transport and Building Systems, Diversified urban developmentMedia & Digital, Lifestyle Business, Mineral Resources, Chemical Solutions and Energy Transition Business. Sumitomo Corporation Adhering to the corporate philosophy of “enriching life, enriching the world”, we are committed to creating greater value for society SumitomoA business philosophy inherited for more than 400 years.

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About SMFL
Sumitomo Mitsui Financial Leasing Co., Ltd. has been Japan's leading leasing company for more than 50 years. SMFL is owned by Sumitomo Mitsui Financial Group one of the largest banking groups, and Sumitomo Corporation It is a top trading company. SMFL provides aircraft and engine leasing and other asset financing such as real estate and energy facilities to the global aviation industry, as well as other types of financing such as finance leases, debt and equity investments and various financial products.

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about Gorgeous
Founded in 2011 to rethink urban energy and inspire the world to move around cities in smarter, more sustainable ways, Gogoro Leverage the power of innovation to change the way urban energy is distributed and consumed.recognized and awarded frost & Sullivan As “2023 global company Selected as one of the “15 Climate Technology Companies to Watch” in 2023 by MIT Technology Review. Gogoro's The battery swapping and vehicle platform provides a smart, proven and sustainable long-term ecosystem that enables a new approach to urban mobility. Gogoro has quickly become an innovative leader in vehicle design and electric propulsion, smart battery design, battery replacement, and advanced cloud services that leverage artificial intelligence to manage battery charging and availability. The challenges are huge, but the opportunities to disrupt the status quo, set new standards and achieve new levels of sustainable transport growth in densely populated cities are even greater.For more information, please visit and follow Gogoro On Twitter: @wearegogoro

Cautionary Statement
The Memorandum of Understanding does not constitute or create any legally binding or enforceable obligations Gogoro, Sumitomo Corporation Or SMFL. Discussions between the parties are expected to continue, but there can be no assurance that the parties will be able to reach any final or binding agreement, or that the partnership contemplated by the MOU will be formed.

forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.Forward-looking statements generally relate to future events or Gogoro's future performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “will,” and “could.” “intend”, “goal”, “project”, “consider”, “believe”, “estimate”, “predict”, “potential” or “continue” or the negative of these words or other similar terms or expressions Gogoro's Expectations, strategies, priorities, plans or intentions.Forward-looking statements in this press release include, but are not limited to, statements regarding potential partnerships. Gogoro may be able to create Sumitomo Corporation and SMFL, including by Gogoro's Founder, Chairman and CEO and Gogoro's Chief Financial Officer.

Gogoro's Expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from expectations as of the date hereof, including related to the parties' possible failure to enter The risks involved in entering into a legally binding and final agreement regarding the partnership, the success of the partnership, the ability of the parties to achieve the respective objectives set forth above under the partnership, and the ability of the parties to achieve those objectives in a timely manner. The forward-looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described. Gogoro's Filing and Securities and Exchange Commission (“U.S. Securities and Exchange Commission“),include Gogoro's Form 20-F for the current year December 31, 2023submitted to March 29, 2024 and in its subsequent submissions U.S. Securities and Exchange Commissiona copy of which can be found at U.S. Securities and Exchange Commission Website statements in this press release are based on available information Gogoro from the date of publication of this Agreement, and Gogoro We undertake no obligation to update any forward-looking statement except as required by law.

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