PLUG POWER INC

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports that we file or submit under the Exchange Act, are recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer (our principal executive officer) and Chief Financial Officer (our principal financial officer) as appropriate, to allow for timely decisions regarding required disclosure. Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of June 30, 2024.

Remediation of Material Weaknesses

In late 2023 and during the first six months of 2024, with the oversight of the Audit Committee of the Board of Directors, the Company executed its remediation plan to address the material weaknesses identified in Item 9A of our annual report on Form 10-K for the year ended December 31, 2023 related to (1) inventory reserves, specifically surrounding the calculation of excess and obsolete inventory and the lower of cost or net realizable value adjustments of inventory, and (2) long-lived asset impairment related to the review and calculation of the carrying value of asset groupings and projections used as a basis for performing our impairment assessments of certain asset groups.

The Company took the following actions during the execution of its remediation plan:

Management has determined, through its current year testing, that these controls have been designed and implemented effectively and that these controls operated effectively for a sufficient period of time to conclude that the previously disclosed material weaknesses related to inventory valuation and long-lived asset impairment identified as of December 31, 2023 have been remediated as of the date of the filing of this Quarterly Report on Form 10-Q.

Changes in Internal Control over Financial Reporting

There were no changes during the quarter ended June 30, 2024 in our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.