Lordstown Motors Announces Strategic Restructuring Process

In addition, and as a consequence of Foxconn's material and irreparable harm, Lordstown is commencing a comprehensive marketing and sale process for the Endurance vehicle and related assets. Chapter 11 to Maximize Value of Lordstown's AssetsIn addition to the decisive action Lordstown is taking to redress Foxconn's tortious conduct, it seeks to maximize the value of the Company's assets and efficiently resolve its contingent liabilities through a Chapter 11 restructuring process. While in Chapter 11, Lordstown will continue to support our customers. Additional information on the Chapter 11 filing, including access to court documents, is available at www.kccllc.net/lordstown. About Lordstown Motors Corp.Lordstown Motors is an electric vehicle ("EV") OEM developing innovative light duty commercial fleet vehicles, with the Endurance all electric pickup truck as its first vehicle.