ARVL Arrival

Enel X, Enel's subsidiary dedicated to innovative products and services, together with Arrival (NASDAQ: ARVL), pioneer of a unique new method of design and production of equitable electric vehicles (EVs) by local Microfactories, have entered into a partnership to test the zero-emission battery electric bus in Italy. The aim is to foster the growth of electrified public transport globally through increasingly high-performance and competitive solutions. The tests will be carried out by Enel X on the basis of an analysis matrix developed in-house, to look at all the main features of the Arrival Bus. The tests will be carried out in Italy, at the Vallelunga circuit, where Enel X Way's advanced charging services and solutions will also be used to charge the vehicles. The success of these tests will be a key building block for Enel to include the Arrival Bus within its portfolio of global electrification solutions.

"The partnership with Arrival is another important step towards achieving our goals of electrifying public transport globally. Public transport authorities face significant challenges in making cities smarter and more sustainable, and by offering our public transport solutions together with our many years of global experience, we want to give solid support to make this a reality," said Francesco Venturini, CEO of Enel X. "Arrival Buses look very promising. They are a technologically advanced means of transport that, if integrated within our value offer, can potentially provide operators and end users with the best possible customer experience."

"We are very excited to partner with Enel X and Enel X Way to assist bus operators and cities around the world as they accelerate the transition to electric vehicles, bringing cleaner air to our cities," said Avinash Rugoobur, President of Arrival. "Our electric bus aims to set new standards in passenger experience while reducing costs for operators. By manufacturing our vehicles in local micro-factories, we are fostering a global green transition that is fair, bringing jobs to local communities, using local suppliers and building vehicles designed for local markets."

The partnership will enable Enel X to strengthen its offering to public transport authorities globally, providing a major boost to reach Enel's target of more than 20,000 electric buses served by 2030. Today, Enel X is the world's largest supplier of e-bus solutions outside China. It currently operates more than 3,200 e-Buses globally. Enel X's e-bus solution is modular and customizable to the customer's specific needs and is offered through different business models that include, among others, leasing options. It includes a wide variety of products and services, including a complete end-to-end turnkey service ("e-Bus as a Service"). The complete turnkey solution can include: comprehensive design support, vehicles, financing options, battery leasing ("Battery as a Service"), customized management system platforms (including smart charging software developed in-house), charging infrastructure solutions provided by Enel X Way, depot construction, renewable energy sources, virtual power plant integration, including demand response schemes and smart mobility services.

Arrival recently achieved a key milestone of EU certification and received European Whole Vehicle Type Approval (EUWVTA), marking a critical step towards Arrival Buses carrying passengers on public roads in the UK and Europe. The demand for zero-emission technology is growing globally, driven by consumers, governments and investors. The company wants to power a green transition and make its cities better places to live, by developing truly sustainable and equitable mobility ecosystems, creating clean air for communities all over the world.

Arrival was founded in 2015 with a mission to make air clean by replacing all vehicles with equitable electric solutions - produced by local Microfactories. Six years and over 2,000 people later, we are driving the transition to EVs globally by creating products that are zero-emission, more desirable, more sustainable and more equitable than ever before. Our in-house technologies enable our radical new method of design and production using rapidly-scalable, local Microfactories around the world. This method facilitates cities and governments in achieving their sustainability goals whilst also supercharging their communities. We are a technology company, a product company, a supply chain company, an automotive company, a mobility company, a fintech company and a service company - all rolled into one with a shared goal of true sustainability. This vertically integrated business model is how we can have the radical impact our world needs today. Arrival (NASDAQ: ARVL) is a joint stock company governed by Luxembourg law.

Enel X Global Retail is the Enel Group’s global business line that offers services to accelerate innovation and drive the energy transition. World leader in the sector of advanced energy solutions, Enel X Global Retail manages services such as demand response for approximately 6.6 GW of total capacity globally and 59 MW of behind-the-meter storage capacity installed worldwide. Through its advanced solutions, including energy management and financial services, Enel X Global Retail provides each partner with an intuitive and personalized ecosystem of technological platforms and consulting services, focused on the principles of sustainability and the circular economy in order to provide people, communities, institutions and companies with an alternative model that respects the environment and integrates technological innovation into daily life. Each solution has the power to transform the goals of decarbonization, electrification and digitalization into sustainable actions for all, in order to build a more sustainable and efficient world together.

Enel X Way is the Enel Group's new global business line entirely dedicated to electric mobility. Currently, Enel X Way manages nearly 350,000 charging points, both directly and through interoperability agreements in place around the world. As a global platform for e-Mobility, the company is focused on developing flexible charging technologies and solutions to improve the customer experience by supporting the electrification of transport for consumers, businesses, cities and public administrations.

Forward Looking StatementsThis press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products offered by Arrival and the markets in which it operates and Arrival’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the impact of COVID-19 on Arrival’s business; (ii) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Arrival operates, (iii) the risk that Arrival and its current and future collaborators are unable to successfully develop and commercialize Arrival’s products or services, or experience significant delays in doing so, (iv) the risk that Arrival may never achieve or sustain profitability; (v) the risk that Arrival experiences difficulties in managing its growth and expanding operations, (vi) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations; (vii) the risk that the utilization of Microfactories will not provide the expected benefits due to, among other things, the inability to locate appropriate buildings to use as Microfactories, Microfactories needing a larger than anticipated factory footprint, and the inability of Arrival to deploy Microfactories in the anticipated time frame; (viii) the risk that the orders that have been placed for vehicles, including the order from UPS, are cancelled or modified; (ix) the risk of product liability or regulatory lawsuits or proceedings relating to Arrival’s products and services; and (x) the risk that Arrival will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (xi) the risk that Arrival is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Arrival’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2022 and other documents filed by Arrival with the SEC from time to time. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by applicable law, Arrival assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Arrival does not give any assurance that Arrival will achieve its expectations.

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