• Fisker and Ample seek to increase adoption of EVs in the United States and Europe
• The companies intend to bring the first Fisker Ocean SUVs to market with swappable batteries by Q1 2024
• Fisker and Ample will share revenue related to the battery swapping system
• Ample’s technology will enable Fisker to broaden use cases for customers and Ample to assist fleet operators in transitioning to electric mobility

LOS ANGELES & SAN FRANCISCO / May 02, 2023 / Business Wire / Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, and Ample, a leader in energy management and module battery swapping, today announced a partnership to deliver Ample-powered Fisker EVs. This partnership is important to Fisker’s long-term strategy to increase scale and adoption of its EVs in the United States and Europe.

“Our partnership with Ample will enable us to broaden the vehicle use case for our customers,” Henrik Fisker, Chairman and CEO of Fisker Inc. said. “We’re thrilled to offer Ample’s innovative battery-swapping system, which will bring a new level of affordability to the Fisker Ocean and potentially to the other vehicles we intend to bring to market in the future.”

“We’re incredibly excited about our relationship with Fisker. They’ve developed best-in-class EVs that our team is proud to support,” said Khaled Hassounah, Co-founder and CEO of Ample. “We’re looking forward to assisting with making the Fisker Ocean available to a wide segment of customers as a part of our goal to bring more EVs on the road.”

The initial target customer for Fisker’s Ample-powered EVs will be fleet operators who are looking to transition to electric mobility without economic or operational compromises. Ample's technology makes it possible to rapidly deploy EV infrastructure so that Fisker can make its vehicles available to larger markets on a faster timetable. Fisker and Ample will share revenue related to the battery swapping mechanism.

Battery swapping offers drivers energy delivered as quick as gasoline and at a lower per-mile cost. For drivers looking to transition to electric, speed and cost are key and more so for high mileage drivers, such as those in the ride-hailing industry. With today’s announcement drivers can now look forward to a combination of award-winning design and affordability in the Fisker Ocean, powered by the latest battery technology, never worrying about range or charging anxiety.

Joint development between Ample and Fisker is already underway, with the goal of providing battery swappable Fisker Ocean vehicles by Q1 2024.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by designing and developing individual mobility in alignment with nature. Passionately driven by a vision of a clean future for all, the company is on a mission to create the world's most sustainable and emotional electric vehicles. To learn more, visit Fiskerinc.com and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn.

Download the revolutionary new Fisker mobile app from the App Store or Google Play store.

About Ample

Ample is an energy company that uses Modular Battery Swapping to deliver 100% charge to any EV in a few minutes. Our truly green solution was designed to be as fast, as cheap and as convenient as gas making it easy for drivers to transition to electric without any compromises.

Fisker Forward-Looking Statements

This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel," "believes," expects," "estimates," "projects," "intends," "should," "is to be," or the negative of such terms, or other comparable terminology and include, among other things, the quotation of our CEO, the statements regarding the planned launch timing, pricing, delivery and estimated range of the Fisker Ocean, the Company's future performance, and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: Fisker's limited operating history; Fisker's ability to enter into additional manufacturing and other contracts with Magna or tier-one suppliers in order to execute on its business plan; the risk that OEM and supply partners do not meet agreed-upon timelines or experience capacity constraints; Fisker may experience significant delays in the design, manufacture, regulatory approval, launch and financing of its vehicles; Fisker's ability to execute its business model, including market acceptance of its planned products and services; Fisker's inability to retain key personnel and to hire additional personnel; competition in the electric vehicle market; Fisker's inability to develop a sales distribution network; and the ability to protect its intellectual property rights; and those factors discussed in Fisker's Annual Report on Form 10-K, under the heading "Risk Factors", filed with the Securities and Exchange Commission (the "SEC"), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Fisker files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Fisker undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.