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SEGMENT INFORMATION

3 Months Ended

Dec. 31, 2023

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 21 – SEGMENT INFORMATION

Our CEO and Chairman of the Board, as the chief operating decision maker, makes decisions about resources to be acquired, allocated and utilized to each operating segment. The Company is currently comprised of 2 major operating segments:

● Bollinger. The Company acquired the controlling interest of Bollinger Motors Inc. (60%) on September 7, 2022. This acquisition positions Mullen into the medium duty truck classes 4-6, along with the Sport Utility and Pick Up Trucks EV segments.

● Mullen/ELMS. By November 30, 2022, Mullen acquired ELMS’ manufacturing plant in Mishawaka Indiana and all the intellectual property needed to engineer and build Class 1 and Class 3 electric vehicles.

All long-lived assets of the Company are located in the United States of America.

The table below represents main financial information pertaining to the segments (there were no material differences from the last annual report in the basis of segmentation or in the basis of measurement of segment profit or loss).

​

​	​	​	​	​	​	​	​	​	​
Segment reporting for the 3 months ended December 31, 2023	​	​	​	​	​	​	​	​	​
​		Bollinger			Mullen/ELMS			Total
Revenues	​	$	—	​	$	—	​	$	—
Segment's net loss before income taxes	​	​	(8,223,042)	​	​	(57,496,575)	​	​	(65,719,617)
Total segment assets	​	​	158,619,890	​	​	222,556,630	​	​	381,176,520
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
Segment reporting for the 3 months ended December 31, 2022	​	​	​	​	​	​	​	​	​
​		Bollinger			Mullen/ELMS		​	Total
Revenues	​	$	—	​	$	—	​	$	—
Segment's net loss before income taxes	​	​	(3,897,767)	​	​	(375,056,632)	​	​	(378,954,399)
Total segment assets	​	​	255,966,515	​	​	184,985,524	​	​	440,952,039
​	​	​	​	​	​	​	​	​	​

​

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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