Fisker Ocean Wins iF DESIGN AWARD 2024 for Best Electric SUV

Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, announces that the Fisker Ocean all-electric SUV has won the iF DESIGN AWARD 2024 for "Best Electric Vehicle: SUV", securing the highest accolade in the Automobiles category.

The iF DESIGN AWARD ? renowned internationally as a coveted seal of quality ? is awarded annually by iF International Forum Design GmbH, the world's oldest independent design organization. Almost 11,000 entries from 72 countries were received in 2024.

The highly-contested Automobiles category is assessed by a world-class jury of 132 independent design experts. In the final judging round, the Fisker Ocean topped the Electric Vehicle: SUV category for its overall design idea, form, function, and impact. The all-electric SUV particularly excelled in both the Form and Function assessments, affirming its engaging design and ease of use.

Henrik Fisker, Chairman and CEO, said: "We're honored that the iF DESIGN AWARD jury has recognized the Ocean's combination of sustainability, emotional design, and simple, intuitive SUV function. We're proud to win this prestigious award for our Ocean embodying Fisker's signature blend of design, innovation, and sustainability. It's designed from the wheels up to evoke emotion and excitement, while our top focus during the design process was on sustainability."

Designed in California and produced to high-quality specification in a carbon-neutral plant in Europe, the Fisker Ocean is ready to disrupt the automotive world with its beautiful craftsmanship, ingenious engineering, innovation, affordability, and world-class durability.

The Ocean Extreme has a WLTP range of 439 miles / 707 km¹, the longest range of any electric SUV in its segment on the European market today ², and an EPA-estimated range of 360 miles ³, the longest range of any new electric SUV in its segment sold in the United States today ⁴.The Fisker Ocean Extreme has the lowest published carbon footprint of any electric SUV ⁵, uses over 110 lbs. /50 kg. of recycled and bio-based materials, is built at a carbon-neutral facility, and integrates rooftop solar panels, adding up to 1,500 miles/2400 km per year of range ⁶.

¹ This WLTP range number applies to Fisker's European markets. WLTP measurements conducted with standard 20" wheels. Actual range will vary with conditions such as external environment, vehicle configuration, wheel size and vehicle use.
² D-Segment Vehicles, as classified by GlobalData.
³ EPA estimated range. Measurements conducted with standard 20" wheels. Actual results may vary for many reasons, including driving conditions, wheel size, state of battery charge, and how the vehicle is driven and maintained.
⁴ Mid-size SUVs in comparable price segment.
⁵ Based on date of 2023 Fisker Ocean LCA publication and public information available at that time.
⁶ Based on Fisker simulations. Ideal conditions assume solar irradiation of 5.4 kWh/m2/day and steady commuter driving. Actual results vary with conditions such as external environment and vehicle use.

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, X, 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 quote from our chief executive officer, statements regarding any potential future automotive original equipment manufacturer (or equipment or part manufacturer) transactions and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance or future events 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 continue as a going concern; Fisker's ability to enter into additional manufacturing and other contracts with Magna, OEMs, or tier-one suppliers in order to execute on its business plan; Fisker's ability to satisfy conditions to completion of the potential transaction with a large automaker that it is currently negotiating; 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 or dealership 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.