Fisker Rolls Out Final Fisker Ocean Over-the-Air Software Update of 2023 and Prepares for Regular Updates in 2024

• Version 1.11 introduces new features and bug fixes and improves the ownership experience.
• Version 1.11 is the second major OTA update for 2023, following Version 1.10 in November.
• Fisker expects to continue OTA updates through Q1 2024.

Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to create the world’s most emotional and sustainable electric vehicles, has commenced its final over-the-air software (OTA) update of 2023 for the Fisker Ocean all-electric SUV.

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Fisker Inc., driven by a mission to create the world’s most emotional and sustainable electric vehicles, has commenced its final over-the-air software (OTA) update of 2023 for the Fisker Ocean all-electric SUV. Version 1.11 began rolling out on Dec. 14. The company expects to completely implement this update for the last customer cars by the end January of 2024. This OTA update, which can be authorized remotely by all Fisker Ocean owners, follows the previous major OTA software update – Version 1.10 in November. (Photo: Business Wire)

Version 1.11 began rolling out on Dec. 14. The company expects to completely implement this update for the last customer cars by the end of January 2024. This OTA update, which can be authorized remotely by all Fisker Ocean owners, follows the previous major OTA software update– Version 1.10 in November.

“Being able to use OTA software updates to quickly introduce new features, respond to customer feedback, and fix bugs is an integral aspect of our competitive advantage,” Chairman and CEO Henrik Fisker said. “We have addressed issues and offered a range of new features with both Versions 1.10 and 1.11 in 2023, as we are looking forward to maintaining the pace of our updates in 2024. It is incredible that we can use technology to do this for customers without them ever having to leave home.”

Beyond the two major OTA updates in 2023, Fisker also undertook a number of factory updates prior to November, in order to ensure that vehicles were current with the latest software before deliveries in significant numbers began to customers. The Version 1.11 OTA update will be available to owners in all Fisker’s US, Canada, and European launch markets.

The company will continue its robust approach to software updates, making a strategic shift to a staged roll-out plan to take advantage of learnings from previous releases and to properly test the over-the-air pipeline. In Q1 2024, Fisker expects further updates to improve the SolarSky roof capabilities; enhance the torque split between front and rear wheels; introduce a hill-holding function and one-pedal driving; alter the external vehicle sound and adjust the sound of the lock-unlock audio cues in response to customer feedback; improve key fob functionality; enhance the audio experience; introduce a Pet Mode for pet comfort; and add ADAS features, among improvements. Some of the individual features will be homologated by Fisker, if required, before release.

Version 1.11 of the software contains the following updates (release notes can be found here):

• Introducing Trips: Whether you're returning from your daily commute or a cross-state road trip, stay in the know about your drive. Easily view details such as distance, duration, miles/kilometers since last charge, or dive deeper into energy consumption metrics. To access your Trip details, head to the Trips tab in the Energy button on your Central Touchscreen.
• Introducing Screen Cleaning Mode: Easily and safely clean fingerprints, smudges, and dust from your Central Touchscreen. You can access this feature in the Display section of Vehicle Settings on the Central Touchscreen.
• Enhancements to vehicle navigation
• Bluetooth functionality and consistency improvements for audio and hands-free calling
• California Mode functionality and consistency improvements
• OTA update enhancements including correct OS version numbering in the Central Touchscreen
• ADAS settings improvements
• Access to an expanded library of new languages for EU locales
• Other bug fixes and performance enhancements

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by designing and developing individual mobility in alignment with nature. Passionately driven by a vision of a clean future for all, the company is on a mission to create the world’s most sustainable and emotional electric vehicles. To learn more, visit 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 .

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 quotation of our CEO, the statements regarding the planned launch timing, pricing, delivery, production, and estimated range of the Fisker Ocean, the planned timing of the opening of Fisker facilities, the Company's future performance, expansion of operations, software updates, 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 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, 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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