Getaround Inc Approved A Restructuring Plan

Getaround Inc GETR:

• GETAROUND INC - ON FEBRUARY 1, 2023, THE BOARD OF DIRECTORS OF CO APPROVED A RESTRUCTURING PLAN

• GETAROUND INC - COMPANY EXPECTS TO REDUCE GLOBAL HEADCOUNT BY APPROXIMATELY 10%

• GETAROUND INC - ESTIMATES THAT IT WILL INCUR TOTAL COSTS IN CONNECTION WITH THE RESTRUCTURING OF APPROXIMATELY $1.4 MILLION

• GETAROUND INC - CHANGES ESTIMATED TO RESULT IN COST SAVINGS OF BETWEEN $25 MILLION AND $30 MILLION ON AN ANNUALIZED RUN-RATE BASIS

• GETAROUND INC - ACTIONS ARE EXPECTED TO BE COMPLETED IN CALENDAR YEAR 2023