Fisker Ocean Wins 2023 Red Dot Award for Product Design, Best Electric Vehicle

• The all-electric Fisker Ocean, Fisker's debut vehicle, wins the internationally recognized Red Dot award for outstanding product design
• Fisker Ocean all-electric EV awarded for beautiful aesthetics, excellent function, ease of use
• Henrik Fisker and team are proud to win a design award evaluating a vehicle design's responsibility, sustainability, and durability

Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, today announced that the Fisker Ocean is the 2023 Red Dot Product Design Award winner for Best Electric Vehicle.

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The all-electric Fisker Ocean, Fisker's debut vehicle, wins the internationally recognized Red Dot award for outstanding product design. The "World's Most Sustainable Vehicle" won for beautiful aesthetics, excellent function and ease of use. Photo credit: Fisker

The Red Dot Design Award, first awarded in 1955, is one of the most internationally sought-after seals of quality for good design. An international jury of over 50 design experts evaluated the all-electric Fisker Ocean against global competition on four key design qualities: product function, aesthetics, ease of use, and responsibility / sustainability. The jury awarded the Fisker Ocean Best Electric Vehicle 2023.

"We are particularly proud to win knowing Red Dot judged us on 'the quality of responsibility: is the product sustainable or durable?'" Chairman and CEO Henrik Fisker said. "We built our company to make the world's most emotional and sustainable vehicles. We have a once-in-a-generation opportunity to move the world toward cleaner and more sustainable mobility, and every design choice Fisker makes supports that mission. "

He added, “I’ve always believed that great design can change lives because it’s an emotional experience. We're honored our peers in the design community recognized the Fisker Ocean. With this vehicle, we strived to create a well-balanced, sculptural surface that exudes a powerful road presence. Our goal for the Fisker Ocean was for everything about it – exterior, interior, and technology features -- to be simple, intuitive, and delightful."

The all-electric Fisker Ocean SUV marries a sleek, futuristic exterior design with a modern, tech-driven in-car experience. The exterior is defined by a sports car look, feel, and dynamic, with elegant arcs, clean surfaces, and smooth highlights. Larger 22" wheels ground the Ocean's balanced proportions. Slim, wrap-around lighting integrates into body panels concealing ADAS sensors and the world's first digital radar in a consumer vehicle. With one button, California Mode simultaneously opens the SolarSky roof and all windows for a convertible, California feel.

Built at a carbon-neutral facility in Graz, Austria, the all-electric Fisker Ocean is made with materials carefully selected to reduce environmental impact, including more than 50 kg of recycled polymers, bio-based content, and other recycled materials. While keeping the design language and form factor of an SUV, the aerodynamic silhouette and low, wide stance add efficiency to the Ocean's range, estimated at 350 miles (US)¹. The Ocean's confirmed WLTP range of 707 km/440 miles (UK) gives the Fisker Ocean the longest range of any battery electric SUV sold in Europe ². The SolarSky integrates solar panels onto a panoramic glass power roof, adding up to 1,500 miles of solar-powered range per year ³.

Henrik Fisker and the Fisker design team will accept the Red Dot Award: Product Design 2023 for Electric Vehicle at the Red Dot Gala on June 19, 2023, in Essen, Germany. The Fisker Ocean design will be part of "Milestones in Contemporary Design," an exhibition of Red Dot Award winners at the Red Dot Design Museum from June 2023 to May 2024. Fisker looks forward to commencing deliveries in the beginning of May.

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.

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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.

¹ Range estimates for Fisker Ocean Extreme and One trims. Based on Fisker simulations utilizing EPA standards. Actual results vary with conditions such as external environment, wheel size and diameter, and vehicle use. Official EPA ratings forthcoming.

² Range evaluations for Fisker Ocean Extreme and One trims. This WLTP range number applies to Fisker’s European markets. WLTP measurements conducted on Fisker Ocean Extreme with standard 20” wheels. Actual range will vary with conditions such as external environment, vehicle configuration, wheel size and diameter, and vehicle use. Fisker expects EPA range figures for the US market to follow shortly.

³ Based on Fisker simulations. Ideal conditions assume solar irradiation of 5.4 kWh/m2/day and steady highway driving. Actual results vary with conditions such as external environment and vehicle use.

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