There is nothing untoward about the approval of additional 10%...

There is nothing untoward about the approval of additional 10% placement capacity, it happens every year and only lasts 12 months. As far as I know it has never been invoked by Fluence.

AGM Notice 5 May 2020

RESOLUTION 6: APPROVAL OF ADDITIONAL 10% PLACEMENT CAPACITY

To consider and, if thought fit, to pass the following resolution as a special resolution:
“That, for the purposes of ASX Listing Rule 7.1A, approval is given for the issue of Equity Securities
totalling up to 10% of the issued capital of the Company at the time of issue, calculated in accordance
with the formula prescribed in ASX Listing Rule 7.1A and on the terms and conditions set out in the
Explanatory Memorandum.”

Note: This is a special resolution and for it to be passed, at least 75% of the votes validly cast on the resolution
must be in favour of the resolution. Also, a voting exclusion statement applies to this resolution. Please see the
“Important Information” section below for further details.

Explanatory Statement extract:
The Company previously obtained Shareholder approval of its additional 10% Placement
Capacity at its last annual general meeting on 22 May 2019. This approval will expire, however, on 21
May 2020. Accordingly, the Company is proposing to have Shareholders approve a new additional
10% Placement Capacity.

AGM Notice 26 April 2021

SPECIAL BUSINESS:

To consider and, if thought fit, to pass the following as a special resolution:

“That, pursuant to and in accordance with Listing Rule 7.1A and for all other purposes, Shareholders approve
the Company’s additional capacity to issue (at its discretion) Equity Securities up to 10% of the issued capital of
the Company (at the time of the issue) calculated in accordance with the formula prescribed in Listing Rule
7.1A.2 and on the terms and conditions in the Explanatory Statement.”

A voting exclusion does not apply to this Resolution.

Explanatory Statement extract:
Listing Rule 7.1A enables an eligible entity to issue Equity Securities up to 10% of its issued share capital through
placements over a 12-month period after the Annual General Meeting (10% Placement Capacity). The 10%
Placement Capacity is in addition to the Company's 15% placement capacity under Listing Rule 7.1.

Rule 7.1A Compliance:

Rule 7.1A allows an eligible entity to seek security holder approval by special resolution at the AGM (which means 75% shareholder approval) to issue an additional 10% of capital within 12 months from the date of approval. Shareholders who are likely to benefit from any subsequent placement under the Rule must be excluded.

To meet the eligibility requirements, entities must not be included in the S&P/ASX300 index and must have a market capitalisation equal to or less than $300 million.