Forza X1, Inc. announced that steel construction material has begun arriving to Forza's 11-acre property in Marion, North Carolina. This delivery marks a significant milestone in the construction of the Company's manufacturing facility, which begins with the initial 60,000-square-foot factory with the capacity to build up to 550 boats annually. When all phases of the factory are eventually completed, Forza anticipates the manufacturing facility will be as large as 100,000 square feet with production capabilities for up to 1,000 boats annually.

Once the factory is fully operational, the Company plans to integrate cutting-edge closed-molded composite boat-building techniques and electric motor assembly processes. This integration aligns with Forza X1's dedication to creating, engineering, and producing electric boats that are inspiring and operate with a strong focus on sustainability and eco-friendliness. Additionally, the Company expects to invest over $10.5 million in land, buildings, fixtures, infrastructure, and equipment and create as many as 170 jobs in McDowell County, North Carolina.

The Company announced the successful acquisition of the property in September after McDowell County completed roughly grading and clearing of the site earlier this year. These statements are identified by the use of the words " could, "believe," "anticipate," "intend," "estimate," "may," "may," "continue," "predict," "pot potential," " project" and similar expressions that are intended to identify forward-looking statements and include statements regarding the Company's plans to construct manufacturing facility on its 11-acre Property in Marion, North Carolina beginning with the initial 60,000 -square-foot factory with the capability to build up to 550 boats annual, the Company's ability to build and deliver state-of-the- art electric boats across the country but also serving as a foundation for job creation and community development in McDowell County, integrating cutting-edge closed-m molded composite boat-building techniques and Electric motor assembly processes once the factory is fully operational, The Company's ability to create, engineer, and produce electric boats that are inspiring and operating with a strong focus on sustainability & eco-friendliness, the Company's ability to invest over $10. 5 million in land, buildings, fixture, infrastructure, and equipment and creating as many as 170 jobs inMcowell County, North Carolina.

important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to complete the construction of its new manufacturing facility in Marion, North Carolina as planned, the Company's ability to building and deliver state-of- the company's ability to build and deliver electric boats across the country while also serving as a foundation for jobs creation and community development in McD Powell County, the Company's ability to integrate cutting-edge closed the closed-molded composite boat -building techniques and electric motor assembly process once the factory is fully operational.