Bollinger Innovations, Inc. (NASDAQ: BINI) ("Bollinger Innovations" or the "Company"), an electric vehicle ("EV") manufacturer, announces today the Company has initiated additional staff reductions and further elimination of facilities as the Company continues to consolidate business operations since its recent merger under the Bollinger Innovations brand. The Company continues focus on reduction of current burn rate while increasing near term commercial revenue generation.

For the quarter ending June 30, 2025, G&A and R&D expenses totaled $47.7M. The Company has further reduced G&A and R&D to $18.6M (61% drop) per quarter moving forward.

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