ZAPP Zapp Electric Vehicles Group Ltd

Zapp Electric Vehicles Group Limited (“Zapp” or the “Company”), a high-performance two-wheel electric vehicle company, today celebrated its successful listing and commencement of trading of its ordinary shares and warrants on the Nasdaq Stock Market under the ticker symbols “ZAPP” and “ZAPPW”.

“I’m incredibly proud of the whole Zapp team, and honored we had the opportunity to celebrate our listing at the Nasdaq MarketSite in Time Square,” said Swin Chatsuwan, Founder and CEO of Zapp. “This is only the beginning of our growth story. We believe our public listing will catalyze the Company’s expansion in the rapidly growing and highly fragmented two-wheeler category. We have an amazing first product, and I’m super excited about what’s to come as we scale our operations.”

Zapp was founded in 2017 by a group of mobility experts with a vision and commitment to bring high-performance to urban mobility through original, advanced design with an emphasis on safety, quality, customer experience and full-cycle sustainability. The Company’s debut product, the i300 is a high performance electric city bike that combines the convenience and agility of a step-through form factor with the power and speed of a larger size motorcycle. The i300 has received widespread acclaim, including recently winning the prestigious Red Dot Product Design Award, and consumer interest for its embodiment of these values.

Further Details on Zapp’s First Product i300

Zapp’s design team created a unique and innovative ‘Z’-shaped exoskeleton architecture. This distinctive design lowers the i300’s weight and centre of gravity to deliver superb on-road performance and handling. The i300 is capable of accelerating from 0-30 mph in just 2.3 seconds and its unique configuration and exoskeleton architecture also meaningfully reduces weight, maximising efficiency and boosting battery range.

Another key innovation of the i300 is its ultra-portable double battery system. Each battery pack weighs just 6kg and can be charged from 20% to 80% via a standard 220v/110v wall socket in approximately 40 minutes. The portability of the battery packs makes the i300 easy to charge anywhere and at any time without reliance on a public charging network.

Zapp is committed to Gen-2 sustainable design and production and the i300 exemplifies Zapp’s mission to create truly sustainable products. Not only are most of the i300’s components recyclable, but its exoskeleton architecture lowers the number of components required for assembly, in turn reducing assembly steps and energy used.

Zapp’s i300 Carbon is now available to pre-order Zapp’s website www.zappev.com.

About Zapp Zapp Electric Vehicles Limited is an electric motorcycle company run by a team of experts from the mobility industry. The i300 is the first in a suite of high-performance electric two-wheelers expected to come to market from Zapp. Zapp plans to offer a high-quality direct-to-customer experience known as DSDTC (drop-ship-direct-to-customer). Customers ordering the i300 online will have their bikes conveniently delivered to their home by “Zappers,” who will provide at-home inspection, service and support throughout the vehicle ownership lifecycle.

Investor Relations Contact:Gateway Investor RelationsCody Slach, Ralf Esper(949) 574-3860zapp@gatewayir.com

Global Media Relations Contact:

InfluenceLisa Palmer+ 44 (0) 7956 710028   pr@zappev.com

North America Media Relations Contact:

Gateway PRZach Kadletz(949) 574-3860zapp@gatewayir.com

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of U.S. federal securities laws with respect to Zapp, including without limitation statements regarding the benefits of its public listing, the anticipated growth in the industry in which Zapp operates, the anticipated growth in demand for Zapp’s products, and projections of Zapp’s future operating results, financial position and liquidity. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “budget,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are neither historical facts nor guarantees of future events, but rather are predictions, projections and other statements about future events that are based on current beliefs, expectations and assumptions and, as a result, all such statements are subject to risks and uncertainties that may cause future events and results to differ materially from those expressed or implied by them. 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 effect of the public listing of Zapp’s securities on Zapp’s business relationships, performance, financial condition and business generally, (ii) risks that Zapp’s public listing may divert management’s attention from Zapp’s ongoing business operations, (iii) the outcome of any legal proceedings that may be instituted against Zapp and/or its directors or officers, (iv) Zapp’s potential inability to maintain the listing of its securities on the Nasdaq Stock Market, (v) volatility in the price of the Company’s securities due to a variety of factors, including without limitation changes in the competitive and highly regulated industries in which Zapp plans to operate, variations in competitors’ performance and success, and changes in laws and regulations affecting Zapp’s business, (vi) changes in the Company’s capital structure, (vii) Zapp’s ability to implement business plans, forecasts and other expectations as well as its ability to identify and realize additional business opportunities, (viii) the risk of downturns in the highly competitive electric vehicle industry, (ix) the ability of Zapp to build the Zapp brand and consumers’ recognition, acceptance and adoption of the Zapp brand, (x) the risk that Zapp may be unable to develop and manufacture electric vehicles of sufficient quality, on schedule and at scale, that would appeal to a large customer base, (xi) the risks associated with Zapp’s limited operating history, its not having released a commercially available electric vehicle yet, and its lack of experience manufacturing and selling a commercial product at scale, and (xii) the risk that Zapp may not be able to effectively manage its growth, including its design, research, development and maintenance capabilities.

The foregoing list of risk factors is not exhaustive. Forward-looking statements are not guarantees of future performance or success. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Zapp’s registration statement on Form F-4 and other documents filed by the Company with the U.S. Securities and Exchange Commission from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements herein. The forward-looking statements in this document represent the views of Zapp as of the date of this document. Subsequent events and developments may cause these views to change. Readers are cautioned not to put undue reliance on the forward-looking statements herein, all of which are qualified by the foregoing cautionary statements. Zapp assumes no obligation and does not intend to update or revise the forward-looking statements herein, whether as a result of new information, future events, or otherwise. Zapp give no assurance that it will achieve its expectations or goals. The inclusion of any statement in this document does not constitute an admission by Zapp or any other person that the events or circumstances described in such statement are material. 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c2bba7b4-0966-4f89-8651-6049c89e62f6.