January 17, 2021

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Future Revero GTs will benefit from a package of racing-inspired structural, componentry and technology suited for both track day and street car applications. It will create an emotional bond between driver and machine and appeal to individuals who enjoy the pure driving experience. VVIP customer treatment and choices about custom materials and bespoke options will await new Karma Revero GT owners at the Karma Design Studio in Irvine, Calif., where designers will provide expert assistance. Once designed, custom fabrication will take place at Karma’s Innovation and Customization Center (KICC) in Moreno Valley, Calif.

“Today’s announcement positions us well for the future as we continue to evolve and refine our automotive offerings to meet the specific needs and wants our customers have come to expect,” said Joost de Vries, Karma’s VP of global sales and customer experience. “Thanks to our U.S. manufacturing capabilities at our 550,000 sq. ft Karma Innovation and Customization Center in Moreno Valley, California, we have the ability to be nimble and more cost efficient while still providing world-class luxury vehicles, services and customization options.”

In the coming weeks, Karma will also release more details about the forthcoming Karma GS-6, the next evolution of the brand which will retain elements of the Revero GTs exterior design while moving the price-point to a more attainable level. The new GS-6, available for delivery in 2021, will join the brand’s first-ever all-electric vehicle, the GSe-6, announced in October 2020. Both vehicles will help drive demand toward a new customer demographic and represents a huge market opportunity for the brand.

ABOUT KARMA AUTOMOTIVE  
Karma Automotive, founded in 2014, is a Southern California-based producer of luxury electric vehicles. Headquartered in Irvine, California with an assembly plant located in Moreno Valley, Karma sells vehicles via its dealer network comprising nearly 40 locations in North America, Europe, South America and the Middle East. Karma’s Innovation and Customization Center, which opened in 2019 offers world-class engineering, design, customization, and manufacturing services along with electrification platforms. Karma’s flagship vehicle, the Revero® GT, Green Car Journal’s 2020 Luxury Green Car of the Year™, is an electric vehicle powered by dual electric motors that embodies Karma’s goal of offering leading technology with a luxury experience. Every Karma vehicle is created with unparalleled individual care and craftsmanship.

For more information, visit www.karmaautomotive.com, or www.karmanewsroom.com.

KARMA AUTOMOTIVE SAFE HARBOR DISCLOSURE
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include Karma Automotive’s expectations. Forward-looking statements typically can be identified by the use of words such as “will,” “expect,” “believe,” and similar terms. Although Karma believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those

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