Navitas Semiconductor Corp

Navitas Semiconductor Corporation (the “Company”) is unable to file its quarterly report on Form 10 ‑ Q for the period ended March 31, 2024 (the “Form 10 ‑ Q”) within the prescribed time period without unreasonable effort or expense because the Company requires additional time to complete its quarter-end financial reporting processes and related auditor review relating to the evaluation of certain control deficiencies noted during the course of the review. Based on the control deficiencies noted, the Company anticipates including in the Form 10 ‑ Q that material weaknesses in internal control over financial reporting have been identified at March 31, 2024. The material weaknesses generally relate to the operation of accounting controls for stock compensation arrangements and license agreements. No restatement of prior period financial statements and no change in previously released financial results have been identified. The Company expects that the interim financial statements in the Form 10 ‑ Q will be consistent in all material respects with the financial information reported in the first-quarter 2024 earnings press release furnished as Exhibit 99.1 to the Company’s current report on Form 8 ‑ K, filed with the Securities and Exchange Commission on May 9, 2024. The Company is working diligently to complete the Form 10 ‑ Q and expects to file it with the Securities and Exchange Commission on or before the fifth calendar day following the prescribed due date

Navitas Semiconductor Corporation (the “Company”) is unable to file, without unreasonable effort or expense, its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “2023 Form 10-K”) within the prescribed time period for the reasons set forth below. On December 31, 2023, the Company’s status as an emerging growth company ended and for the first time the Company became a large accelerated filer, resulting in a significantly shortened filing deadline for the 2023 Form 10-K of 60 days compared to 90 days when the Company was an emerging growth company and smaller reporting company at the end of its prior fiscal year. In connection with this shorter filing timeline, as well as enhanced compliance obligations with respect to Section 404 of the Sarbanes-Oxley Act of 2002, the Company requires additional time to complete its year-end financial reporting process and related audit. The Company is working diligently to complete the necessary work and expects to file the 2023 Form 10-K within the extension period provided under Rule 12b-25 under the Securities Exchange Act of 1934. Although the Form 10-K is not completed, the Company expects that the financial statements in the Form 10-K will be consistent in all material respects with the financial information reported in the earnings press release furnished as Exhibit 99.1 to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on February 29, 2024

During its financial statement review process for the year ended December 31, 2022, Navitas Semiconductor Corporation (the “Company”) required unanticipated additional time to complete its accounting, financial statements and disclosures related to the Company’s August 15, 2022 acquisition of GeneSiC Semiconductor Inc. (“GeneSiC”), specifically with respect to the presentation in its Form 10-K of the items described below. The Company intends to file the Form 10-K as soon as practical on or before the 15th calendar day following the prescribed due date. Based on its review, the Company expects to reclassify approximately $2.2 million in bonus payments, paid by GeneSiC to its employees immediately before closing, from merger consideration (recorded as goodwill) to compensation expense, and to record approximately $0.5 million in unrelated additional expenses related to the year ended December 31, 2022. These are expected to affect the Company’s fourth quarter and year ended December 31, 2022 as follows: • there is no effect on net revenues or gross profit on a GAAP or non-GAAP basis; • GAAP operating expense and GAAP loss from operations are each increased by approximately $2.6 million for the quarter and year; • there is no significant effect on non-GAAP operating expense or non-GAAP loss from operations; • GAAP loss per diluted share is unfavorably impacted by ($0.01) per share for the quarter; there is no effect on GAAP earnings per diluted share for the year; and • non-GAAP loss per diluted share is favorably impacted by $0.01 per share for both the quarter and year

Live Oak Acquisition Corp. II, a Delaware corporation (the “ Company ”) has determined that it is unable to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the “ Quarterly Report ”) with the U.S. Securities Exchange Commission (the “ SEC ”) within the prescribed time period without unreasonable effort or expense, because the Company needs additional time to complete its financial statements and related disclosures for the reasons described below. On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the SEC (the “ SEC Staff ”) issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”) (the “ SEC Staff Statement ”). In the SEC Staff Statement, the SEC Staff expressed its view that certain terms and conditions common to SPAC warrants may require the warrants to be classified as liabilities on the SPAC’s balance sheet as opposed to equity, in accordance with Accounting Standards Codification 815-40, Derivatives and Hedging: Contracts in an Entities Own Equity (“ ASC 815-40 ”). Since issuance on December 2, 2020, the Company’s warrants, which includes (i) 8,433,333 redeemable warrants included as a part of the units issued by the Company in its initial public offering (the “ Public Warrants ”) and (ii) 4,666,667 redeemable warrants that were issued to Live Oak Sponsor Partners II, LLC in a private placement that closed concurrently with the closing of the Company’s initial public offering (the “ Private Warrants ” and, together with the Public Warrants, the “ Warrants ”), were accounted for as equity within the Company’s financial statements