On March 12, 2026, STEM, INC. announced the dismissal of Deloitte & Touche LLP as its independent registered public accounting firm. This decision was made by the Audit Committee of the Board of Directors and was communicated to Deloitte on March 13, 2026. Notably, Deloitte's reports for the fiscal years ending December 31, 2024, and December 31, 2025, did not contain any adverse opinions or disclaimers, indicating that the financial statements were in good standing. The company reported no disagreements with Deloitte regarding accounting principles or auditing procedures during the relevant periods.

In conjunction with this change, STEM, INC. has engaged RSM US LLP as its new independent registered public accounting firm, effective for the review of the financial statements for the quarter ending March 31, 2026, and the audit for the fiscal year ending December 31, 2026. The engagement of RSM is subject to standard client acceptance procedures. The company did not consult with RSM regarding any matters that would require disclosure under SEC regulations prior to this engagement.

This transition in auditors may reflect a strategic move by STEM, INC. to align its financial oversight with a firm that may better suit its current operational needs and future growth strategies. The change in auditors is a significant event that could impact investor confidence and perceptions of the company's governance practices. However, the lack of adverse findings from Deloitte suggests that the company's financial health remains stable, which may mitigate any immediate negative reactions from the market. Investors will be keen to observe how this change influences the company's financial reporting and overall governance moving forward.

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