Hyzon Motors Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020
Cash Flows from Operating Activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Interest earned on marketable securities held in Trust Account
Depreciation and amortization
Stock-based compensation
Foreign currency transaction loss
Noncash interest expense
Issuance of warrants
Fair value adjustment of private placement warrant liability
Fair value adjustment of earnout liability
Gain (loss) on equity securities
Inventory write-downs
Loss on equity method investments
Impairment of property and equipment
Deferred income tax expense
Deferred income tax (benefit) expense
Accretion of discount on available-for-sale debt securities
Restructuring and related charges

Changes in operating assets and liabilities:
Accounts receivable
Inventory
Prepaid expenses and other current assets
Unbilled receivable
Other assets
Accounts payable
Accrued liabilities
Prepaid expenses
Related party payables, net
Contract liabilities
Other liabilities

Net cash used in operating activities
Cash Flows from Investing Activities:
Investment of cash in Trust Account
Purchases of property and equipment
Advanced payments for capital expenditures
Investment in equity securities
Proceeds from sales of property and equipment
Investment in non-consolidated affiliates
Purchases of short-term investments
Proceeds from maturities of short-term investments
Proceeds from sale of short-term investments
Deconsolidation of subsidiary
Net cash provided by (used in) investing activities

Cash Flows from Financing Activities:
Proceeds from sale of Units, net of underwriting discounts paid
Proceeds from sale of Private Placement Warrants
Payment of offering costs
Payment of Sponsor note
Proceeds from issuance of common stock, net of transaction costs
Proceeds from Business Combination, net of redemption and transaction costs (Note 3)
Payment under Horizon IP agreement
Exercise of stock options
Payment of finance lease liability
Debt issuance costs
Repurchase of warrants
Net share settlement of equity awards
Repurchase of common stock as treasury stock
Deferred transaction costs
Acquisition of noncontrolling interest
Proceeds from issuance of convertible notes (Note 9)
Net cash used in financing activities
Net decrease in cash
Cash at beginning of year
Cash at end of year

Effect of exchange rate changes on cash
Net change in cash, cash equivalents, and restricted cash
Cash, cash equivalents, and restricted cash — Beginning
Cash, cash equivalents, and restricted cash — Ending
Supplemental schedule of non-cash investing activities and financing activities:
Accrued offering costs
Conversion of Legacy Hyzon common stock
Recognition of earnout liability in Business Combination
Recognition of private placement warrant liability in Business Combination
Horizon license agreement payable
Conversion of convertible notes for common stock
Acquisitions of property and equipment included in current liabilities
Acquisition of noncontrolling interest included in operating assets
Deconsolidation of subsidiary in exchange for related party receivable, net of cash held

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