Mullen Automotive Provides Fiscal Second Quarter 2023 Business Update

The net loss before accrued preferred dividends and non-controlling interest was $495.4 million for the six months ended March 31, 2023. 2 2 Preferred Series C; 40,000,000 shares authorized; 1,210,056 and 1,360,321 shares issued and outstanding at March 31, 2023, and Sept. 30, 2022, respectively. 363 4,359 Preferred Series AA;1 share authorized; zero and zero shares issued and outstanding at March 31, 2023, and Sept. 30, 2022, respectively. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover, Mullen I-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. MGT currently provides commercial vehicle sales and leasing across all major OEM brands, with a focus on class 1-4 commercial vehicles.