Lordstown Motors begins commercial production of Endurance truck; cash outlook improved by $75M

NU RIDE INC.

First two commercial release Endurance vehicles built at Foxconn EV Ohio plant; third expected shortly.
Production ramp slow due to supply chain constraints; up to 500 vehicles in initial batch.
Expects Q4 start-of-sales subject to certification; ~50 deliveries in 2022, remainder in H1 2023.
Ending Q3 cash ~$195M; 2022 cash outlook ~$110M, up $75M from prior outlook.
Still exploring capital raising alternatives, including Foxconn JV and strategic partnerships.

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