Explain media reporting

Hon Hai Precision Industry Co Ld

28 June 2023

 

Subject: Explain media reporting

Date of events:2023/06/28

Contents:

1.Date of occurrence of the event:2023/06/28

2.Company name:Hon Hai Precision Ind. Co. Ltd.

3.Relationship with the Company (please enter "the company itself" or"subsidiaries"):the company itself

4.Reciprocal shareholding percentage:NA

5.Name of the reporting media:Commercial Times

6.Content of the report:

US EV company Lordstown Motors Corp. (LMC) files for bankruptcy and sues Hon Hai for fraud and breach of investment agreement. Hon Hai says it reserves the right to pursue legal actions against false and malicious comments and also suspends subsequent negotiations.

7.Cause of occurrence:NA

8.Countermeasures:

Hon Hai Technology Group (Foxconn) ("the Company") has been holding a positive attitude in conducting constructive negotiations with Lordstown Motors Corp (LMC) and in assisting LMC in finding a solution to its financial difficulties. However, during this time, LMC has continuously attempted to mislead the public and has been reluctant to perform the investment agreement between the two parties in accordance with its terms.

Foxconn originally hoped to continue discussions and reach a solution that could satisfy all stakeholders, without resorting to baseless legal actions, but so far the two parties have yet to reach a consensus.

Regarding LMC's litigation announcement today and the false comments and malicious attacks made by LMC in its external statements against Foxconn, the Company reserves the right to pursue legal actions and also suspends subsequent good faith negotiations.

9.Any other matters that need to be specified:None

 

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