Universal Logistics subsidiary to build 1M sq ft Ford electric truck facility

UNIVERSAL LOGISTICS HOLDINGS, INC.

UDOT to construct ~1M sq ft warehouse/distribution facility in Stanton, TN for Ford's next-gen electric truck.
Facility must be substantially complete by Jan 1, 2025; then Ford pays ~$2.42M monthly base for 10-year term.
ULH will indemnify Ford against certain bankruptcy/insolvency events of UDOT under separate agreement.
Revenue and expenses from project expected to begin Q1 2024 despite escrow conditions not yet satisfied.
Escrow release conditioned on Ford obtaining all necessary governmental approvals for prime lease.

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