Phoenix Motorcars to Participate in SPI Energy’s Investor Day on May 19

Investors can participate onsite at SPI’s HQ in McClellan Park, California or virtually via Zoom

Phoenix Motor Inc. (“Company” or “Phoenix Motorcars”) (Nasdaq: PEV), a leader in manufacturing of all-electric, medium-duty vehicles, today announced its participation in SPI Energy’s upcoming Investor Day, to be held on May 19, 2023, both onsite at the Company's corporate headquarters in McClellan Park, California, and virtually via Zoom webcast. Phoenix Motorcars’ investors, analysts, and media are invited to attend.

The event will feature a presentation by Denton Peng, Chairman and CEO of SPI Energy, who will provide an overview of the Company's strategic vision and corporate growth plans. Other speakers include COO H.K. Cheong, CFO Janet Chen, and executives from the Company’s business units, including American-made solar module manufacturer Solar4America, American-made solar wafer manufacturer SEM Wafertech, Australian solar and storage distributor SolarJuice Australia, solar project developer SPI Solar, solar power producer Orange Power, electric vehicle designer and manufacturer Phoenix Motorcars (Nasdaq: PEV), and green hydrogen and fuel cell developer EdisonFuture.

"This Investor Day is a fantastic opportunity for us to share SPI's growth story, showcase our exciting developments by business unit, reiterate our growth plan, and most importantly have all our invaluable institutional and retail investors recognize the value proposition of the company," stated Peng. "We are thrilled to offer our stakeholders the opportunity to interact with key members of our leadership team and learn more about the tremendous value SPI is creating."

The Investor Day will enable attendees to learn about the latest market trends, SPI Energy's competitive advantages, and the company's overall positioning within the rapidly growing renewable energy industry.

The Investor Day presentation will begin at 4:15 p.m. Eastern Time and conclude at 6:15 p.m. ET. Tours of the Company's solar module and fuel cell manufacturing facilities will be available to onsite attendees following the formal presentation.

Registration for the event is now open, and participants can register to attend onsite by visiting the Investor Relations section of SPI's website (www.spigroups.com). The event will also be available via webcast, which participants can register to attend via the following link: https://redchip.zoom.us/webinar/register/WN_rXi5DqoiQeKteT-0nJd4Eg#/registration.

About Phoenix Motor Inc.

Phoenix Motor Inc., a pioneer in the electric vehicle (“EV”) industry, designs, builds, and integrates electric drive systems and light and medium duty EVs and sells electric forklifts and electric vehicle chargers for the commercial and residential markets. Phoenix operates two primary brands, “Phoenix Motorcars”, which is focused on commercial products including medium duty EVs (shuttle buses, school buses, municipal transit vehicles and delivery trucks, among others), electric vehicle chargers and electric forklifts, and “EdisonFuture”, which intends to offer light-duty EVs. Phoenix endeavors to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. For more information, please visit: www.phoenixmotorcars.com.

About SPI Energy

SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company and provider of solar, storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and is headquartered in McClellan Park, California.

The company has three core divisions: SolarJuice which has solar wholesale distribution in Australia, as well as residential solar and roofing installation and solar module manufacturing. SPI Solar and Orange Power which operates a commercial & utility solar division, and the EdisonFuture/Phoenix Motor EV division. SolarJuice is the leader in renewable energy system solutions for residential and small commercial markets and has extensive operations in the Asia Pacific and North America markets. The SPI Solar commercial & utility solar division provides a full spectrum of EPC services to third party project developers, and develops, owns and operates solar projects that sell electricity to the grid in multiple regions, including the U.S., U.K., and Europe. Phoenix Motor is a leader in medium-duty commercial electric vehicles, and is developing EV charger solutions, electric pickup trucks, electric forklifts, and other EV products.

SPI maintains global operations in North America, Australia, Asia and Europe and is also targeting strategic investment opportunities in fast growing green energy industries such as battery storage, charging stations, and other EVs which leverage the Company's expertise and substantial solar cash flow.

For more information on SPI Energy and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or available at www.sec.gov.

Forward-Looking Statements

This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as “may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 10-K filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.

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