EVgo Inc.

Amendment of DOE Loan Facility

On April 29, 2026, EVgo Swift Borrower LLC (the “Borrower”), a subsidiary of the Company, entered into the First Omnibus Amendment Agreement (the “Amendment”) to the Loan Guarantee Agreement, dated as of December 12, 2024 (the “Guarantee Agreement”), with the DOE as guarantor, with respect to the term loan facility (the “DOE Loan”) established between the Borrower and the Federal Financing Bank (the “FFB”). The Guarantee Agreement was previously reported on the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 12, 2024, and the Amendment is filed as an exhibit to this Quarterly Report on Form 10-Q.

The Amendment modifies certain terms of the Guarantee Agreement, the material terms of which are described below. Capitalized terms used herein but not defined shall, unless otherwise indicated, have the meanings ascribed to them in the Guarantee Agreement.

The Amendment changes the Maximum Guaranteed Loan Amount under the facility to $750 million (which includes $625 million in borrowings and up to $125 million in capitalized interest), from approximately $1.248 billion. Specifically, the Maximum Aggregate Amount of Advances is changed to $625 million, from $1,050 million, and the Maximum Capitalized Interest Amount is changed to $125 million, from $193 million. The DOE Loan has a deployment period of five years and a stated maturity of seventeen years from the closing date.

Borrowings under the DOE Loan bear interest at a rate based on U.S. Treasury rates plus an applicable margin, totaling approximately 1.2%, and interest accrued during the deployment period is eligible for capitalization in accordance with the terms of the Guarantee Agreement.

The Amendment permits the Borrower to make additional borrowings in an amount equal to 80% of the aggregate of all Eligible Project Costs of assets held by the Borrower (subject to certain regulatory and contractual requirements), subject to the overall project leverage ratio cap of 65% being reached, after which the Borrower will borrow and reimburse Sponsor at the 65% ratio until the end of the Availability Period.

In connection with the Amendment, the Borrower requested an additional one‑time Advance with respect to previously contributed assets, which was funded on May 1, 2026. The total amount of the Advance is $81 million, which includes approximately $23 million in respect of the one-time draw and $58 million in respect of amounts projected to be reimbursed to the Sponsor in the 90 days immediately succeeding the Requested Advance Date.

The Amendment also eliminates the Account Funding Requirement of the Qualified Stall Asset Acquisition Account, which previously required a minimum cash balance of $35 million to allow excess cash sweeps during the Availability Period. $3.6 million that was previously held in reserve in this account will be distributed to the Sponsor.

The foregoing description of the Amendment to the Guarantee Agreement is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this Quarterly Report on Form 10-Q and is incorporated into this Item 5 by reference.

Rule 10b5-1 Trading Plans

During the three months ended March 31, 2026, no Section 16 officers adopted, modified orterminated a “Rule 10b5-1 trading arrangement” (as defined in Item 408 of Regulation S-K of the Exchange Act).

There were no “non-Rule 10b5-1 trading arrangements” (as defined in Item 408 of Regulation S-K of the Exchange Act)adopted, modified orterminated during the three months ended March 31, 2026 by any of our Section 16 officers or directors.