Mullen Automotive (MULN) Announces $25 Million Stock Buyback Program

Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today that the Board of Directors (the "Board") of the Company has authorized a stock buyback program, pursuant to which the Company may, until Dec. 31, 2023, purchase up to $25 million in shares of its outstanding common stock. The shares may be repurchased, from time to time, in the open market or in privately negotiated transactions depending upon market conditions and other factors, and in accordance with applicable regulations of the Securities and Exchange Commission (the “SEC”). The authorization of the stock buyback program does not obligate the Company to purchase any shares and may be terminated or amended by the Board at any time prior to its expiration date.

“We are initiating this buyback program as an attractive opportunity to deploy capital and return value to our shareholders,” said David Michery, CEO and chairman of Mullen Automotive.

For more information on Mullen Automotive or SEC public filings, please visit the investor relations section of Mullen’s website or SEC.gov.

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