Enovix Corp

Amendment to Manufacturing Agreement

On October 29, 2024, we entered into an amendment (the “Amendment”) to the manufacturing agreement with YBS International Berhad (“YBS”) dated July 23, 2023 (the “Agreement”). The Agreement provides that YBS shall manufacture products specified in purchase orders and under our direction and supervision. The Amendment modifies certain payment terms and responsibilities of the parties, effective as of September 1, 2024. Pursuant to the Amendment, we are responsible for the $100 million initial investment for the Gen2 Line 1 equipment and facilities costs, YBS is responsible for obtaining and managing its working capital requirements needed to provide manufacturing services under the Agreement, the markup fee percentage is reduced, and monthly invoices under a certain threshold are subject to adjustment. The Agreement’s initial ten-year term has eight years and nine months remaining as of October 2024, after which the Agreement will automatically renew for one successive five-year period unless earlier terminated. Each party has normal and customary termination rights, including for material breach, upon mutual agreement or upon change in business circumstances.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment attached as Exhibit 10.1 to this Quarterly Report on Form 10-Q.

Insider Trading Arrangements

During the quarter ended September 29, 2024, no directors or officers (as defined in Rule 16a-1(f) under the Exchange Act)adopted, modified orterminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” as defined in Item 408(a) of Regulation S-K, other than as follows:

On August 30, 2024, Dr. Raj Talluri, Chief Executive Officer and a member of our board of directors, terminated a Rule 10b5-1 trading arrangement that had been adopted on June 12, 2024, and was intended to satisfy the affirmative defense in Rule 10b5-1(c). The trading arrangement had provided for the sale of an aggregate of up to 639,624 shares of our common stock until January 15, 2025, or earlier if all transactions under the trading arrangement had been completed. No shares were sold under the trading arrangement.