Mullen Automotive Files Preliminary Proxy Statement

The Reverse Stock Split will only be implemented if necessary to regain compliance with Nasdaq Listing Rule 5550(a)(2), which sets forth a minimum bid price of $1.00. The Board will determine the final split ratio after stockholder approval and would retain the authority to abandon the Reverse Stock Split at any time or to delay or postpone it. Completion of the proposed Reverse Stock Split is subject to market and other customary conditions, including obtaining stockholder approval. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. The proxy statement is in preliminary form and Mullen intends to file and mail a definitive proxy statement to stockholders of Mullen.