Fisker to Take Investment Position and Create Strategic Partnership in Allego, a Leading Pan-European Electric Vehicle Charging Network

• Fisker to invest $10 million into PIPE supporting the planned merger of Allego with Spartan Acquisition Corp III
• Pro forma equity value of the merger is approximately $3.14 billion, at the $10.00 per share PIPE price, and assuming minimal Spartan shareholder redemptions
• Allego has more than 26,000 public EV charging ports across 12,000 public and private locations in 12 European countries – with leading utilization rates and a substantial recurring user base, as well as a secured backlog of 500 premium sites
• Fisker to partner with Allego on specific period free charging offer for its customers in Europe

Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – today announced it will make a $10 million private investment in public equity (PIPE) supporting the planned merger of leading European EV charging network, Allego B.V. (“Allego”) with Spartan Acquisition Corp. III (NYSE: SPAQ), a publicly-listed special purpose acquisition company. Fisker is the exclusive electric vehicle automaker in the PIPE and, in parallel, has agreed to terms on a strategic partnership to deliver a range of charging options for its customers in Europe.

"Allego has been a long-standing pioneer in the push to create a seamless pan-European electric vehicle charging network," said Fisker Chairman and CEO, Henrik Fisker. "Our investment in the PIPE is motivated by strategic and tactical considerations, ensuring we have a stake in the future of EV charging networks while delivering tangible benefits to our customers."

Through the Fisker-Allego partnership announced today, the two companies are collaborating on offering electric vehicle charging and related services across multiple European markets. Included in that partnership is the provision that fleet and private customers buying or leasing a Fisker Ocean SUV between Jan. 1, 2023 and March 31, 2024 will benefit from one year of free charging (from original date of registration) on the Allego network. Further, the two companies are working on future plans to deliver a seamless charging experience for Fisker customers using the Allego ‘Plug & Charge’ service that utilizes the Allego Fast and Ultra-Fast charger network.

“Having Fisker both invest in our PIPE, and at the same time form a commercial partnership is a significant vote of confidence in our growth plans,” said Mathieu Bonnet, CEO of Allego. “Both Fisker and Allego have a common connection through the 'Spartan' franchise of SPACs sponsored by funds managed by affiliates of Apollo Global Management, and I want to recognize the leadership of Geoffrey Strong and his team at Spartan who are constantly creating new investment opportunities across the clean mobility sector.”

Founded in 2013, Allego is a leading EV charging network in Europe and has deployed more than 26,000 charging ports across 12,000 public and private locations, spanning 12 European countries. Allego’s charging network includes fast, ultra-fast and AC charging solutions delivered through either owned or operated public charging networks, in addition to charging solutions for B2B customers. Allego has developed a rich portfolio of partnerships with strategic partners including municipalities, more than 50 real estate owners and more than 15 automakers.

Fisker intends to start production and deliveries on its first vehicle, the Ocean electric SUV, from Nov. 17, 2022 – and unveil a production-intent prototype at the LA Auto Show® later this year. The Fisker Ocean will enter the U.S. market at a starting MSRP of $37,499 (excluding EV-related subsidies) and below €32,000 in Germany (including taxes and EV-related subsidies). Including fleet orders from companies such as Credit Agricole Consumer Finance, Onto and Viggo, Fisker has more than 62,000 hand-raisers and 17,300 paid reservations for the Ocean.

“With this new funding, we are confident that Allego will be well equipped to introduce the most advanced charging technologies, continue to expand their network and be able to deliver a seamless charging experience for our customers,” added Mr. Fisker.

For more information or interview inquiries, contact Fisker@GoDRIVEN360.com.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube and LinkedIn.

Download the revolutionary new Fisker mobile app from the App Store or Google Play store.

About Allego

Allego delivers charging solutions for electric cars, motors, buses and trucks, for consumers, businesses and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network comprised of more than 26,000 charge points operational throughout Europe – and growing rapidly. Our charging solutions are connected to our proprietary platform, EV-Cloud, which gives us and our customers a full portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable and safe charging solutions, agnostic of vehicle model or network affiliation. At Allego, we strive every day to make EV charging easier, more convenient and more enjoyable for all.

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 quotations of our Chief Executive Officer and statements regarding the planned start of production and MSRP of the 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 other OEMs 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, as amended, 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.

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