DGAP-News: fox e-mobility AG / Key word(s): Half Year Report/Half Year Results fox e-mobility AG publishes consolidated financial report for the first half of 2021 2021-09-14 / 07:15 The issuer is solely responsible for the content of this announcement.

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fox e-mobility AG publishes consolidated financial report for the first half of 2021

Munich, September 14, 2021 - fox e-mobility AG (ISIN DE000A2NB551), a European electric vehicle company that specializes in the production, marketing and development of compact electric cars in the lower price segment for individual passenger transport and logistics applications, announces its interim financial report for the first half of 2021. The interim report covers the period from January 1, 2021 to June 30, 2021 for the two group companies Fox Automotive Switzerland AG and fox e-mobility AG. fox e-mobility AG did not have revenues yet during the above-mentioned period. The first revenues from licenses and vehicle sales are expected from 2023. Expenses were incurred in the first half of the year mainly with the establishment of business operations and vehicle development. The consolidated half-year result was therefore a loss of around EUR 7.5 million. The equity of the fox e-mobility group amounted to EUR 96.4 million as of June 30, 2021. The total balance sheet amounts to EUR 105.2 million. Liabilities of EUR 6.0 million are mainly due to shareholders and trade payables. Deferred tax liabilities of EUR 2.8 million result from the additions to equity. The full half-year financial statements for H1 2021 are available on the company's website in the "Investors" section ( https://fox-em.com/financial-reports/). fox e-mobility AG considers itself well positioned for the further course of business. For the financial year 2021, a net result of EUR -16 to EUR -18 million is expected for the group, which is mainly composed of depreciation and amortization as well as the operating expenses for the development of the MIA. With a multi-level business model, fox e-mobility combines the core business of revenues from vehicle sales in Europe with licensing income from non-European markets. In addition to the core business, revenues are generated from engineering services and the sale of CO[2] credits. Initial steps to finance the development of the MIA have already been taken in the current year 2021. A first tranche of EUR 3.0 million of the mandatory convertible bond with a total volume of EUR 25.0 million has already been drawn. In addition, a capital increase for a nominal amount of EUR 1.0 million was subscribed by management, which secured liquid funds in the amount of EUR 2.0 million. The focus for the remainder of the year will be on further vehicle development and further financing steps. About fox e-mobility AG fox e-mobility AG is a European electric vehicle company that specializes in the production, marketing, and further development of compact electric cars in the lower price segment for both individual passenger transport as well as logistical applications. The new MIA model is to be manufactured in Europe in cooperation with well-known suppliers to the electrical and automotive industries. The management team consists of seasoned managers and engineers from the world's largest automotive groups who have in-depth expertise and a comprehensive network for electro-mobility. For more information, please visit http://www.fox-em.com. IR contact ir@fox-em.com Press contacts Dr. Walter Glogauer Glogauer & Company Communications Phone +49 8806 95483 Email w.glogauer@glogauer.de Jan Hutterer Kirchhoff Consult AG Phone +49 40 60 91 86 65 Email fox@kirchhoff.de

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2021-09-14 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language:     English 
Company:      fox e-mobility AG 
              Herzogspitalstraße 24 
              80331 München 
              Germany 
Internet:     www.fox-em.com 
ISIN:         DE000A2NB551 
WKN:          A2NB55 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg 
EQS News ID:  1233066 
 
End of News   DGAP News Service 
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1233066 2021-09-14

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1233066&application_name=news

(END) Dow Jones Newswires

September 14, 2021 01:15 ET (05:15 GMT)