LOS ANGELES / Jul 07, 2023 / Business Wire / Fisker Inc. (NYSE: FSR) ("Fisker") – driven by a mission to create the world’s most emotional and sustainable electric vehicles – today announced its vehicle production volume for Q2 2023. In the second quarter of this year, 1,022 of the class-leading Fisker Ocean SUVs were produced in Austria for customers as well as marketing and engineering purposes. A few suppliers had challenges ramping to the targeted 2Q levels, as they did not receive components from sub-suppliers in a timely manner. The company is focused on working with all suppliers to ramp to the required volumes. Fisker exceeded its targeted assembly rate of 80 units per day at the end of June and expects vehicles produced to exceed 1,400 in early July. Looking ahead, Fisker is investing in additional battery pack capacity to protect the compressed manufacturing timeline this year and support higher volumes than originally anticipated next year.

Fisker also announced that it will report its second quarter 2023 financial results before the market opens on Friday, August 4, 2023. The company will host a conference call at 6:00 a.m. PT (9:00 a.m. ET). The conference call live webcast will be accessible on the Events and Presentations page of Fisker’s Investor Relations website: https://investors.fiskerinc.com/. An archive of the webcast will be available shortly after the call and will remain on the website for 12 months thereafter. In addition, shareholders may submit and upvote questions to management through the Say platform link available on Fisker’s website or shareholders at brokers with Say can participate directly in their investing app or broker website.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn.

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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 planned timing of the opening of Fisker facilities, 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.