Lordstown Reveals Endurance Electric Pickup Truck

Lordstown Motors Corp. Debuts the World’s First All-Electric Pickup
Truck – the Lordstown Endurance – and Announces Total Pre Orders

Exceed Goal for the First Year of Production

LORDSTOWN, OH – June 25, 2020 – Earlier today, Lordstown Motors Corp. CEO Steve Burns
unveiled the first pre-production Lordstown Endurance at its Northeast Ohio headquarters to a
crowd that included government officials, Lordstown employees and local stakeholders. Vice
President Mike Pence and U.S. Secretary of Energy Dan Brouillette also spoke. The event can
be seen in its entirety at youtube.com/lordstownmotors.

“Endurance isn’t just the first all-electric pickup truck in America—it’s a virtue the people of the
Mahoning Valley have shown time and time again. For more than 50 years, this historic building
was used to make literally millions of cars that were driven all around the world—from the ’66
Impala to the Cavalier to the Cruze,” said Vice President Pence in his speech, after taking the
inaugural ride in the Endurance as it made its way to the stage. “When I was governor next door
in the state of Indiana, I used to say, ‘in the Heartland we do two things well: we make things
and we grow things.’ Manufacturing workers like you are the backbone of this economy, and the
Valley has some of the best in the world.”

When Lordstown Motors launched in November 2019, they announced their intent to build
20,000 Endurance trucks in 2021. At the event, the company said that they have received
preorders and letters of intent that fulfill that goal. It was also announced that, due to COVID-19,
Lordstown Motors is now targeting late summer for the first trucks to hit the road. The delay is
the result of stay-at-home orders which limited the progress engineers could make and halted
all in-plant retooling, as well as delays from suppliers and vendors.

The Endurance will cost $52,500 before tax credits. The previously released vehicle design
specs can be found at lordstownmotors.com/endurance.

“Even before anyone saw the truck, it was clear that the demand for the Endurance was there.
Most Americans know that the number one, number two and number three best-selling vehicles
are pickup trucks, and even with so many cars going electric, there still isn’t an all-electric
pickup truck,” said Lordstown Motors CEO Steve Burns. “We founded Lordstown Motors to
change that and we are dedicated to that mission. We are proud of the vehicle we are making
and we are proud of where we’re making it.”

At the event, the Goodyear Tire & Rubber Company and Lordstown Motors announced a
strategic relationship between the two Ohio-based companies agreeing to collaborate on tires
and service in addition to future tire intelligence opportunities. As part of the agreement,
Goodyear also intends to acquire new Endurance vehicles to integrate into its own servicing
fleet recognizing the sustainable footprint of the all-electric vehicles.

“We want to be the tiremaker of choice for electric vehicle manufacturers and working with
Lordstown represents an ideal relationship with shared Ohio roots and shared values of
innovation, performance and sustainability,” said Erin Spring, Goodyear’s director, new
ventures.

In addition to Goodyear, Lordstown Motors has also received letters of intent from
AutoFlexFleet, the City of Bowling Green, the City of Warren, the City of Kent, Clean Fuels
Ohio, Duke Energy, FirstEnergy, GridX, Holman Enterprises and ARI, Innervations, Lewis
Energy, Lordstown Township, Momentum, ProLeasing Services, ServPro, SmartCone,
Southgate Leasing Services, Summit County, OH, Summit Petroleum, Turner Mining Group,
U-Go Stations, United States Infrastructure Company and Valor Holdings, among others.
“As the preorders continue to come in, we are making plans to ramp up production to meet the
demand and get the trucks on the road as quickly and as responsibly as possible,” Burns
added.

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In 2021, Lordstown Motors Corp. will complete the engineering and development of the
Endurance. Designed to serve the commercial pickup truck market, the Endurance will be the
first production vehicle that utilizes a 4-wheel-drive hub-motor system, a design that reduces the
number of moving parts. With its hub motor design, Lordstown engineers have set out to
re-invent the electric vehicle.
The Endurance pickup truck is designed with features fleets want, like an onboard power export,
allowing workers to run power tools at the job site without the need for a portable generator or
leaving the truck running. Fleet managers benefit from less breakdowns, lower maintenance,
and most importantly, lower cost. The overall benefit is an attractive Total Cost of Ownership
(TCO), which translates into a significantly lower lifetime operational cost compared to traditional
pickup trucks.
The Lordstown Endurance is engineered to be lightweight, with all-wheel drive and a low center
of gravity, while maintaining ground clearance. Lordstown Motors has set a goal to make the
Endurance pickup truck the safest, most economical, and greenest electric pickup truck ever
built. The Endurance will be manufactured and assembled at the Lordstown Facility.