Subject to approval at the extra shareholders’ meeting of Inzile, eFashion Championship PTE Ltd (“eFC”) has placed an order for Inzile AB (publ) (“Inzile”) including 96 electric competition hypercars. The total order value is MEUR 80 and Inzile will take care of project management of the order including sourcing of delivery capacity from QEV Tech as well as other suppliers. The racing cars will be produced and delivered within 12 months of the date of the order. The order is subject to the condition that the transaction between Inzile and QEV Holdings is completed, to allow eFC to acquire 63% of the shares of Inzile.

Inzile will at the date of approval of the order invoice eFC 30%, or MEUR 24, of the order value, after six months Inzile will invoice further 40%, or MEUR 32, and at the delivery of the vehicles, Inzile will invoice the remaining 30%, or MEUR 24. The order will generate a total net margin of MEUR 8 for Inzile.

As already communicated Inzile has entered a conditional agreement to acquire 50% of the Spanish company QEV Tech Holdings, which in turn is a part owner of QEV Tech. The agreement is subject to, inter alia, approval of the shareholders of Inzile at an extra shareholders’ meeting as well as the approval of Nasdaq First North Growth Market, due to change of identity.

In the joint structure for electric mobility, sales of vehicles, services and solutions will go through Inzile. This means that Inzile is responsible for customer relations and therefore all customer invoicing regarding electric mobility will be carried out by Inzile.

For further information, please contact:

Daniel Wedberg, CEO Inzile, daniel.wedberg@inzile.com, +46 70 285 42 55

This information is such that Inzile AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation (MAR). The information was provided by the above contact person, for publication on June 28, 2021 at 22.45 CET.