Milken Institute Auctions off All-Electric, Limited Edition Fisker Ocean ONE For $170,000

Aug 29th, 2022 6:30 EST

SOUTHAMPTON, N.Y.--(BUSINESS WIRE)--Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – participated in the 8th annual Milken Institute Hamptons Dialogues, where the bi-partisan thinktank auctioned off a limited edition Fisker Ocean ONE for $170,000 in less than five minutes of lively bidding among the over 150 participants, with proceeds benefitting the Prostate Cancer Foundation.

"It was an honor participating in the Milken Institute 2022 Hamptons Dialogues and bringing the world's most sustainable vehicle to New York," Fisker Chairman and CEO Henrik Fisker said. "We're thrilled the auction went so well for the Prostate Cancer Foundation."

The Milken Institute Hamptons Dialogues features four thought-provoking days of discussion and learning among the brightest minds and most influential people in finance, medicine, technology, politics, and beyond. The Prostate Cancer Foundation is the world's leading philanthropic organization dedicated to researching and eradicating prostate cancer.

The limited edition five-passenger, all-electric Fisker Ocean ONE features signature cues available only on the first 5,000 vehicles, along with 350 miles1 of range on a single charge, with dual-motor, all-wheel-drive, three driving modes, a 17.1" rotating screen featuring gaming in HMI, SolarSky roof, California Mode, Smart Traction, and many first-to-market safety features, including the world's first digital radar, all for $68,9992.

In July 2022, the Fisker Ocean ONE sold out in 30 days, each secured by a $5,0003 deposit representing $350 million in potential revenue for Fisker once all the vehicles are delivered. Fisker is on schedule to start production of the all-electric SUV on November 17, 2022, with the first deliveries on track before the end of the year.

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 the 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.

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 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.

1 Based on Fisker simulations. Actual results vary with conditions such as external environment and vehicle use. Official EPA and WLTP ratings are forthcoming

2 Pricing shown is for the continental US and excludes delivery, finance, and government charges. Maintenance is not included. Pricing depends upon specifications and options chosen by customers as they configure the actual vehicle closer to production. Pricing does not include various state and federal incentives and benefits which may be available.

3 Or local currency equivalent

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