On January 11, 2024, Arcimoto, Inc. entered into an Exclusive Contract Manufacturing Agreement with Ellectramobilys, to build Muses GEN1 300 light electric utility vehicles. Ellectramobilys will place orders with the Company from time to time and will provide a rolling, fifty-two (52) week forecast to allow Arcimoto to obtain the necessary raw materials. Pricing for each vehicle is to be established.

Payment terms are net thirty (30) days. Ellectramobilys will indemnify Arcimoto from all claims for product liability and will be deemed the manufacturer for all regulatory-related purposes, such as certification, testing and labeling for Federal Motor Vehicle Safety Standards.