InterPrivate II Acquisition Corp. (IPVA)

SAN FRANCISCO--(BUSINESS WIRE)--Getaround (“Getaround” or “the Company”), the world's first connected carsharing marketplace, today announced the Company has completed its previously announced business combination (“the Business Combination”) with InterPrivate II Acquisition Corp. (NYSE: IPVA) (“InterPrivate II”). In connection with the completion of the Business Combination, Getaround’s common stock and warrants will begin trading on the NYSE under the ticker symbols “GETR” and “GETR.WS,” respectively, on December 9, 2022. The Business Combination was approved at a Special Meeting of InterPrivate II shareholders on December 7, 2022, and was unanimously approved by InterPrivate II’s Board of Directors. Getaround’s Chief Executive Officer and Co-Founder, Sam Zaid, and the current management team of Getaround, will continue to lead the Company. “Today is a special day for the Getaround team that has worked tirelessly to usher in an era of connected and digital carsharing. We are excited to enter into a new chapter as a publicly traded company. Getaround helped pioneer the carsharing category, and we believe consumer adoption is still in its early stages of a large addressable market with secular growth. With our unique and patented technology that enables consumers to instantly book and unlock nearby cars, we believe Getaround is poised to capitalize on an immense market opportunity,” said Zaid. “With the capital raised through this transaction and with exceptional partners in InterPrivate and Mudrick Capital Management, we will continue accelerating Getaround’s mission to lead the advancement of carsharing through our innovative, proprietary technology. ” “We are pleased to be able to partner with Mudrick Capital Management, a leading global investment firm, to support Getaround’s public market debut. Getaround continues to position itself to capture market share in the burgeoning carsharing category, offering a fully digital and superior carsharing marketplace,” commented Ahmed Fattouh, Chairman & CEO of InterPrivate II, who is joining Getaround’s Board of Directors. “Utilizing its key fundamental technological advantage, Getaround Connect, Getaround is able to provide a seamless and frictionless carsharing experience to deliver enhanced value to its users. InterPrivate II believes Getaround’s listing on the NYSE is just the beginning of its journey, as the Company continues to execute on key growth initiatives and lead its peer group as the worldwide leader in asset-light digital carsharing.” “Getaround has demonstrated a long term track record of growth, and is well-positioned to continue to lead the carsharing category with its superior economics and technology as a publicly traded company,” commented Jason Mudrick, Founder and Chief Investment Officer of Mudrick Capital Management, LP, a global investment firm. "We are pleased to have played a key role in supporting this transformative transaction for Getaround.” To memorialize the completion of the Business Combination, Getaround will be ringing the Opening Bell at the NYSE at 9:30 a.m. ET on December 9, 2022. A live stream of the event and replay can be accessed by visiting https://www.nyse.com/bell. LionTree Advisors LLC served as financial advisor, EarlyBirdCapital, Inc. acted as capital markets advisor and Greenberg Traurig, P.A. served as lead legal advisor to InterPrivate II. White & Case LLP also served as a legal advisor to InterPrivate II. UBS Securities LLC acted as lead capital markets advisor and Orrick, Herrington & Sutcliffe LLP served as legal advisor to Getaround. Additionally, Latham & Watkins LLP served as legal counsel to UBS Securities LLC. About Getaround Offering a 100% digital experience, Getaround makes sharing cars and trucks simple through its proprietary cloud and in-car Connect® technology. The company empowers consumers to shift away from car ownership through instant and convenient access to desirable, affordable, and safe cars from entrepreneurial hosts. Getaround’s on-demand technology enables a contactless experience — no waiting in line at a car rental facility, manually completing paperwork, or meeting anyone to collect or drop off car keys. Getaround’s mission is to utilize its peer-to-peer marketplace to help solve some of the most pressing challenges facing the world today, including environmental sustainability and access to economic opportunity. Launched in 2011, Getaround is available today in more than 1,000 cities across the United States and Europe. For more information, please visit https://www.getaround.com/. About InterPrivate II Acquisition Corp InterPrivate II Acquisition Corp. is a blank check corporation led by Chairman and CEO Ahmed Fattouh, Executive Vice Presidents Brian Pham and Alan Pinto, General Counsel Brandon Bentley, and Vice President James Pipe. InterPrivate is further guided by a group of notable investors and operating executives who serve as board members and senior advisors including: Jeffrey Harris, venture capitalist and lead independent director at Chargepoint; Susan Decker, former President of Yahoo! and lead independent director at Berkshire Hathaway; Tracey Brophy Warson, former Chair of Citi Private Bank; and Matthew Luckett, founder of Lampros Capital and former CIO of Balestra Capital. Forward-Looking Statements This document contains certain forward-looking statements within the meaning of the federal securities laws. In some cases, you can identify these forward-looking statements by use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “may,” “should,” and “will,” and similar expressions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to statements regarding the benefits of the Business Combination and becoming a public company and Getaround’s market opportunity and prospects for success in the public markets. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the effect of the Business Combination on Getaround’s business relationships, performance, and business generally; (ii) the outcome of any legal proceedings that may be instituted against Getaround or against InterPrivate II following the completion of the Business Combination; (iii) the ability to meet New York Stock Exchange listing standards; (iv) changes in the competitive and highly regulated industries in which Getaround operates, variations in performance across competitors and changes in laws and regulations affecting Getaround’s business; (v) the ability to implement business plans, forecasts, and other expectations , gauge and adapt to industry trends and changing host, guest and consumer preferences, and identify and realize additional opportunities; (vi) the failure to realize anticipated benefits of the transaction or to realize estimated pro forma results and underlying assumptions, (vii) the risk of adverse or changing economic conditions, including the resulting effects on consumer spending, and the possibility of rapid change in the highly competitive industry in which Getaround operates; (xii) the risk that Getaround and its current and future partners are unable to successfully develop and scale Getaround’s products and offerings, or experience significant delays in doing so; (xiii) the acceptance or adoption of carsharing as an alternative to car ownership in the geographies in which Getaround operates its business; and (xiv) risks associated with increased competition among providers of carsharing or other modes of transportation. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the definitive proxy statement/prospectus filed by InterPrivate II with the Securities and Exchange Commission (the “SEC”) on November 16, 2022, and other documents filed by InterPrivate II from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Getaround and InterPrivate II assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Getaround nor InterPrivate II gives any assurance that either Getaround or InterPrivate II will achieve its expectations. 1 Approximately $228 million of gross proceeds includes amounts retained in InterPrivate II’s trust account, the conversion of approximately $37.5 million of bridge notes and the issuance of $175 million of convertible notes. Getaround repaid its existing credit facility at the closing.

SAN FRANCISCO--(BUSINESS WIRE)--Getaround, the world's leading digital peer-to-peer carsharing marketplace, today announced that the groundbreaking Peer-to-Peer Car Sharing Program Act will now allow the platform to be widely available for all New Yorkers. At today’s press conference, city and state representatives, including Lincoln Restler, Andrew Gounardes and Carlina Rivera spoke alongside Getaround executives to share how this shift will enable New York residents to access a convenient, contactless, sustainable, and affordable mobility solution via carsharing. While Getaround has been active in New York since 2019, state laws required individuals to have commercial insurance to share their vehicles, making widespread use of the platform impractical for the general public. However, thanks to years of advocacy and cooperation with policymakers, the Peer-to-Peer Car Sharing Program Act (Senate Bill S6715) now allows Getaround to provide platform insurance to cover trips within New York at no extra cost to the user, making it an accessible and sustainable transportation solution. At today’s press conference, Lincoln Restler, New York City Council Member for District 33, commented on the impact Getaround will have on transportation efforts in New York City. Available across New York City, initial efforts will concentrate on the areas where there are unmet needs for additional transportation options in Brooklyn, Queens, and The Bronx. To incentivize residents of these neighborhoods to share their cars on the platform, Getaround is offering special owner-earning guarantees and bonuses for hosts who onboard and list their vehicles for carsharing over the coming weeks. In many cases, these earnings can equal up to $2,000 a month. “The enactment of Senate Bill S6715 is an important step for the state of New York,” said Senator Neil Breslin, Chair of the Senate Insurance Committee. “I am encouraged by Getaround’s advancements and the expansion of carsharing in our state, which will promote an equitable and sustainable future.” Getaround Connect® technology enables contactless 24/7 access to these shared vehicles without the need to wait in line or pick up keys. Individuals can reserve the shared vehicles for as little as one hour, perfect for local trips like going to the grocery store as well as longer trips or weekend getaways. “We’re thrilled to expand access to carsharing in New York,” said Getaround's Chief Operating Officer, Sy Fahimi. “This policy shift means that Getaround will be able to operate at full capacity in New York City. Not only will Getaround’s presence help reduce the number of vehicles in one of the nation’s most congested road networks, it will play a major part in democratizing carsharing by providing more equitable access to cars and enabling residents to take advantage of accessible and sustainable transit options.” Privately owned cars are typically parked 95% of the time and on the move only 6 hours per week. For the remaining 162 hours of the week, most cars stay parked and idle. Peer-to-peer carsharing means fewer cars on the road: studies show that, on average, one carsharing vehicle replaces 9 to 13 vehicles. Thanks to carsharing, users are selling their vehicles or postponing the purchase of one and shifting away from the concept of car ownership. This ultimately results in reduced traffic and pollution, lightens the emission of greenhouse gasses, and less space needed for parking. To sign up and book a trip or to be a host in NYC, visit Getaround.com. On May 11, 2022, Getaround announced its entry into a definitive business combination agreement with InterPrivate II Acquisition Corp. (NYSE: IPVA). Upon the closing of the business combination, which is expected in the second half of 2022, the combined public company will be listed on the New York Stock Exchange under the new ticker symbol “GETR.” For more information about the transaction, please visit https://www.getaround.com/investors. About Getaround Getaround connects safe, convenient and affordable cars with people who need them to live and work. We are the world's first carsharing marketplace offering a 100% digital experience with proprietary technology and data that make sharing vehicles superior to owning them. Our community includes guests who rely on our cars for on-demand mobility 24/7, and hosts who share cars on our platform including those who operate their own car sharing businesses. Founded in 2009, today Getaround is active in over 950 cities worldwide. About InterPrivate II Acquisition Corp InterPrivate II Acquisition Corp. is a blank check corporation led by Chairman and CEO Ahmed Fattouh, Executive Vice Presidents Brian Pham and Alan Pinto, General Counsel Brandon Bentley, and Vice President James Pipe. InterPrivate is further guided by a group of notable investors and operating executives who serve as board members and senior advisors including: Jeffrey Harris, venture capitalist and lead independent director at Chargepoint; Susan Decker, former President of Yahoo! and lead independent director at Berkshire Hathaway; Tracey Brophy Warson, former Chair of Citi Private Bank; and Matthew Luckett, founder of Lampros Capital and former CIO of Balestra Capital. Additional Information and Where to Find It This communication relates to the proposed transaction, but does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. InterPrivate intends to file with the SEC a registration statement on Form S-4 relating to the proposed transaction that will include a proxy statement of InterPrivate and a prospectus of InterPrivate. When available, the definitive proxy statement/prospectus and other relevant materials will be sent to all InterPrivate stockholders as of a record date to be established for voting on the proposed transaction. InterPrivate also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and securities holders of InterPrivate are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about InterPrivate, Getaround and the proposed transaction. Investors and securities holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by InterPrivate through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by InterPrivate may be obtained free of charge from InterPrivate’s website at https://ipvspac.com/ or by written request to InterPrivate at InterPrivate II Acquisition Corp., 1350 Avenue of the Americas, 2nd Floor, New York, NY 10019. Participants in Solicitation InterPrivate and Getaround and their respective directors and officers may be deemed to be participants in the solicitation of proxies from InterPrivate’s stockholders in connection with the proposed transaction. Information about InterPrivate’s directors and executive officers and their ownership of InterPrivate’s securities is set forth in InterPrivate’s filings with the SEC, including InterPrivate’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 31, 2022. To the extent that such persons’ holdings of InterPrivate’s securities have changed since the amounts disclosed in InterPrivate’s Annual Report on Form 10-K, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the names and interests in the proposed transaction of InterPrivate’s and Getaround’s respective directors and officers and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of InterPrivate, Getaround, First Merger Sub or Second Merger Sub, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom. Forward-Looking Statements This communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Getaround and InterPrivate, including statements regarding the benefits of the proposed transaction, the anticipated timing of the completion of the proposed transaction, the services offered by Getaround and the markets in which it operates, the expected total addressable market for the services offered by Getaround, the sufficiency of the net proceeds of the proposed transaction to fund Getaround’s operations and business plan and Getaround’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, (ii) the risk that the proposed transaction may not be completed by InterPrivate’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by InterPrivate, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the business combination agreement by the stockholders of InterPrivate and Getaround, the satisfaction of the minimum trust account amount following redemptions by InterPrivate’s public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third-party valuation in determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement, (vi) the effect of the announcement or pendency of the proposed transaction on Getaround’s business relationships, performance, and business generally, (vii) risks that the pendency or consummation of the proposed transaction disrupts current plans and operations of Getaround, (viii) the outcome of any legal proceedings that may be instituted against Getaround, InterPrivate or others related to the business combination agreement or the proposed transaction, (ix) the ability to meet New York Stock Exchange listing standards at or following the consummation of the proposed transaction, (x) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by a variety of factors, including changes in the competitive and highly regulated industries in which Getaround operates, variations in performance across competitors, changes in laws and regulations affecting Getaround’s business and the ability of Getaround and the post-combination company to retain its management and key employees, (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction (including the ability of Getaround to achieve adjusted EBITDA breakeven), gauge and adapt to industry trends and changing host, guest and consumer preferences, and identify and realize additional opportunities, (xii) the risk of adverse or changing economic conditions, including the resulting effects on consumer spending, and the possibility of rapid change in the highly competitive industry in which Getaround operates, (xiii) the risk that Getaround and its current and future partners are unable to successfully develop and scale Getaround’s products and offerings, or experience significant delays in doing so, (xiv) the risk that Getaround may never achieve or sustain profitability, (xv) the risk that Getaround will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (xvi) the risk that the post-combination company experiences difficulties in managing its growth and expanding operations, (xvii) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xviii) the ability to maintain strategic partnerships, including integrations and collaborations with original equipment manufacturers and ride hailing apps, (xix) the risk of product liability or regulatory lawsuits or proceedings relating to Getaround’s products and offerings, (xx) the risk that Getaround is unable to secure or protect its intellectual property, (xxi) the effects of COVID-19 or other public health crises on Getaround’s business and results of operations, the travel and transportation industries, travel and transportation trends, and the global economy generally, and (xxii) costs related to the proposed transaction. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of InterPrivate’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, the registration statement on Form S-4 and proxy statement/prospectus discussed above and other documents filed by InterPrivate from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Getaround and InterPrivate assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Getaround nor InterPrivate gives any assurance that either Getaround or InterPrivate will achieve its expectations.

SAN FRANCISCO--(BUSINESS WIRE)--Getaround, the world's leading digital carsharing marketplace, today announced that the company is expanding operations in the city of Seattle, Washington to increase residents’ access to reliable transportation with expanded carsharing. The company has collaborated with the Seattle Department of Transportation (SDOT) to bring carshare vehicles to dedicated parking spaces across the city. Seattle regularly integrates new and emerging technology and services into its transportation system with a focus on climate, safety, and equitable outcomes, including bike share and scooter share. The city has ambitious plans to reduce drive alone trips and had one of the nation’s largest drops in the percentage of households who own a car, and the percentage of people who commute to work by driving alone in recent years. “Car share is a proven solution to help achieve the city’s goal of reducing drive alone trips. Data from our partnership with San Francisco Municipal Transportation Agency (SFMTA) showed that 74% of trips were taken with more than one passenger. Getaround is looking forward to working with the city to provide additional mobility options for community members that have a positive impact on the environment,” said Adrienne Moretz, Government Partnerships Manager, Getaround. Getaround and its patented Connect Cloud technology will be used to provide contactless 24/7 access to these shared vehicles from designated parking spaces across the city, without the need to wait in line or pick up keys. Residents can reserve the shared vehicles for as little as one hour, perfect for all types of trips including going to the grocery store to running errands to visiting friends and family. Getaround is one of the only peer-to-peer carsharing entities to allow guests to book a car on an hourly basis. Now, local Seattlites can easily access safe, affordable, and convenient cars when and where they need them. Getaround vehicles launched as part of this collaboration can be found in the Madrona, Capitol Hill, and Queen Anne neighborhoods of Seattle. “We’re excited that Getaround is expanding in Seattle, and believe that they play a valuable role in making this a city where people have a variety of options to move around without owning a car,” said SDOT Shared Mobility Program Manager Becky Edmonds who oversees the City’s car, bike and scooter share programs. “We are glad that more people in Seattle will have access to this transportation option, and will continue to work to foster an environment where innovative mobility companies can try out new ideas and creative business models that benefit the public.” “At Getaround, we want to empower people to share cars everywhere, making cities and communities better places to live, and this recent expansion in the city of Seattle continues to drive that mission,” said Nick Tenekedes, VP of Marketplace, Getaround. “Seattle shares our vision of creating sustainable, affordable, and equitable transportation, while working to reduce congestion and greenhouse gasses (GHG) within the city. We are looking forward to this partnership and what we’ll be able to achieve together.” Privately owned cars are typically parked 95% of the time, on the move just 6 hours per week. The remaining 162 hours, most cars remain idle. Thanks to carsharing, people are able to share their car when they aren’t using it, or can sell their vehicle or postpone a purchase, shifting away from the concept of car ownership altogether. This ultimately results in fewer cars on the road, reduced traffic and pollution, and less space needed for parking. Beyond that, research has shown that carsharing services, like Getaround, can significantly reduce the emissions of GHG and harmful substances into the environment. Seattle is one of over 950 cities worldwide in which Getaround is active. Guests have taken nearly six million car trips using cars shared on Getaround. On May 11, 2022, Getaround announced its entry into a definitive business combination agreement with InterPrivate II Acquisition Corp. (NYSE: IPVA). Upon the closing of the business combination, which is expected in the second half of 2022, the combined publicly traded company will be named Getaround. For more information about the transaction, please visit https://www.getaround.com/investors. To learn more about Getaround, visit www.getaround.com. About Getaround: Getaround connects safe, convenient and affordable cars with people who need them to live and work. We are the world's first carsharing marketplace offering a 100% digital experience with proprietary technology and data that make sharing vehicles superior to owning them. Our community includes guests who rely on our cars for on-demand mobility 24/7, and hosts who share cars on our platform including those who operate their own car sharing businesses. Founded in 2009, today Getaround is active in over 950 cities worldwide. About InterPrivate II Acquisition Corp InterPrivate II Acquisition Corp. is a blank check corporation led by Chairman and CEO Ahmed Fattouh, Executive Vice Presidents Brian Pham and Alan Pinto, General Counsel Brandon Bentley, and Vice President James Pipe. InterPrivate is further guided by a group of notable investors and operating executives who serve as board members and senior advisors including: Jeffrey Harris, venture capitalist and lead independent director at Chargepoint; Susan Decker, former President of Yahoo! and lead independent director at Berkshire Hathaway; Tracey Brophy Warson, former Chair of Citi Private Bank; and Matthew Luckett, founder of Lampros Capital and former CIO of Balestra Capital. Additional Information and Where to Find It This communication relates to the proposed transaction, but does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. InterPrivate intends to file with the SEC a registration statement on Form S-4 relating to the proposed transaction that will include a proxy statement of InterPrivate and a prospectus of InterPrivate. When available, the definitive proxy statement/prospectus and other relevant materials will be sent to all InterPrivate stockholders as of a record date to be established for voting on the proposed transaction. InterPrivate also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and securities holders of InterPrivate are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about InterPrivate, Getaround and the proposed transaction. Investors and securities holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by InterPrivate through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by InterPrivate may be obtained free of charge from InterPrivate’s website at https://ipvspac.com/ or by written request to InterPrivate at InterPrivate II Acquisition Corp., 1350 Avenue of the Americas, 2nd Floor, New York, NY 10019. Participants in Solicitation InterPrivate and Getaround and their respective directors and officers may be deemed to be participants in the solicitation of proxies from InterPrivate’s stockholders in connection with the proposed transaction. Information about InterPrivate’s directors and executive officers and their ownership of InterPrivate’s securities is set forth in InterPrivate’s filings with the SEC, including InterPrivate’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 31, 2022. To the extent that such persons’ holdings of InterPrivate’s securities have changed since the amounts disclosed in InterPrivate’s Annual Report on Form 10-K, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the names and interests in the proposed transaction of InterPrivate’s and Getaround’s respective directors and officers and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of InterPrivate, Getaround, First Merger Sub or Second Merger Sub, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom. Forward-Looking Statements This communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Getaround and InterPrivate, including statements regarding the benefits of the proposed transaction, the anticipated timing of the completion of the proposed transaction, the services offered by Getaround and the markets in which it operates, the expected total addressable market for the services offered by Getaround, the sufficiency of the net proceeds of the proposed transaction to fund Getaround’s operations and business plan and Getaround’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, (ii) the risk that the proposed transaction may not be completed by InterPrivate’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by InterPrivate, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the business combination agreement by the stockholders of InterPrivate and Getaround, the satisfaction of the minimum trust account amount following redemptions by InterPrivate’s public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third-party valuation in determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement, (vi) the effect of the announcement or pendency of the proposed transaction on Getaround’s business relationships, performance, and business generally, (vii) risks that the pendency or consummation of the proposed transaction disrupts current plans and operations of Getaround, (viii) the outcome of any legal proceedings that may be instituted against Getaround, InterPrivate or others related to the business combination agreement or the proposed transaction, (ix) the ability to meet New York Stock Exchange listing standards at or following the consummation of the proposed transaction, (x) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by a variety of factors, including changes in the competitive and highly regulated industries in which Getaround operates, variations in performance across competitors, changes in laws and regulations affecting Getaround’s business and the ability of Getaround and the post-combination company to retain its management and key employees, (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction (including the ability of Getaround to achieve adjusted EBITDA breakeven), gauge and adapt to industry trends and changing host, guest and consumer preferences, and identify and realize additional opportunities, (xii) the risk of adverse or changing economic conditions, including the resulting effects on consumer spending, and the possibility of rapid change in the highly competitive industry in which Getaround operates, (xiii) the risk that Getaround and its current and future partners are unable to successfully develop and scale Getaround’s products and offerings, or experience significant delays in doing so, (xiv) the risk that Getaround may never achieve or sustain profitability, (xv) the risk that Getaround will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (xvi) the risk that the post-combination company experiences difficulties in managing its growth and expanding operations, (xvii) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xviii) the ability to maintain strategic partnerships, including integrations and collaborations with original equipment manufacturers and ride hailing apps, (xix) the risk of product liability or regulatory lawsuits or proceedings relating to Getaround’s products and offerings, (xx) the risk that Getaround is unable to secure or protect its intellectual property, (xxi) the effects of COVID-19 or other public health crises on Getaround’s business and results of operations, the travel and transportation industries, travel and transportation trends, and the global economy generally, and (xxii) costs related to the proposed transaction. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of InterPrivate’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, the registration statement on Form S-4 and proxy statement/prospectus discussed above and other documents filed by InterPrivate from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Getaround and InterPrivate assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Getaround nor InterPrivate gives any assurance that either Getaround or InterPrivate will achieve its expectations.

SAN FRANCISCO & NEW YORK--(BUSINESS WIRE)--Getaround (“Getaround” or “the Company”), the world’s leading global and digital carsharing marketplace, and InterPrivate II Acquisition Corp. (“InterPrivate”) (NYSE: IPVA), a publicly-traded special purpose acquisition company, entered into a definitive business combination agreement that will result in Getaround becoming a public company upon completion of the transaction. Upon closing, the combined company is expected to be listed on the New York Stock Exchange under the new ticker symbol “GETR.” The combined company will be led by Getaround Founder and CEO, Sam Zaid. Getaround’s mission is to fundamentally change the paradigm of car ownership. Getaround’s technology platform addresses the severe underutilization of vehicles throughout the world – 95% of a vehicle’s life is idle, resting in a parking space, rather than producing income for its owner and mobility solutions for the consumer. Through its proprietary technology, Getaround allows for an entirely digital and contactless carsharing experience unlike its competitors. Getaround Connect® enables consumers to reserve instantly and retrieve within minutes a nearby vehicle, without the need to fill out paperwork, wait in line or physically exchange keys. Additionally, the digital ease of Getaround Connect empowers hosts to build profitable and sustainable businesses by allowing them to easily scale and manage large fleets of vehicles across wide market regions. Management Commentary “Getaround is about empowering people everywhere to share cars and making the sharing experience increasingly simpler and more reliable through the use of digital and connected technology. Ultimately, our goal is to ensure Getaround is as convenient as personal car ownership,” said Zaid. “Consumers seeking to use a car or truck no longer need to stand in lines, fill out paperwork, or endure all of the hassles associated with owning and maintaining a vehicle. We are accelerating a much-needed transition from a legacy, analog car rental experience to a fully digital and ‘keyless’ carsharing experience. The transaction with InterPrivate is pivotal to our long-term growth strategy. Proceeds will be used for continued product innovation, to densify the supply of digitally connected cars in our existing markets, and to increase both the mix and proximity of our cars and trucks for consumers. We will also look to bring our proven model to new markets, both domestic and abroad. Getaround is thrilled to partner with a reputable and trusted partner such as InterPrivate to usher in this exciting new chapter in our company’s rich history as a publicly traded company.” “Getaround is one of the two largest players in the global car-sharing market that it helped pioneer,” said Ahmed Fattouh, Chairman & CEO of InterPrivate. "We are proud to partner with such an established leadership team — founder-led and bolstered by top executives with experience across leading Silicon Valley companies. As a relentless innovator, the Company has designed and deployed its proprietary Getaround Connect technology to build formidable network effects in cities across the globe, improving utilization of automotive assets and transforming the way its customers access transportation. Getaround has demonstrated years of strong execution — as evidenced by their robust growth, established scale, and demonstrated adjusted EBITDA profitability in key cities. Our merger is expected to accelerate the expansion of the Company's uniquely enduring asset-light marketplace within one of the largest consumer categories, providing more efficient mobility for global consumers along the way.” Jason Mudrick, Founder and Chief Investment Officer of Mudrick Capital Management, LP, a global investment firm, added, "We are excited to partner with Getaround on its business combination with InterPrivate to go public. The Company's loyal consumer following, established scale, attractive unit economics and sustainable technology advantages fit the profile we seek in our growth investment strategy – business models that have hit their inflection point and are ready for their public market debut. Our significant capital commitment of up to $175 million is expected to help Sam Zaid and his team execute on their global expansion plan. We are pleased to back InterPrivate in this important transaction and look forward to continuing our collaboration around their serial SPAC strategy." Key Investment Highlights: Top 2 player globally in peer to peer carsharing – Operates in more than 950 cities in 8 countries with 1.6 million guests using 66k cars shared by hosts Large total addressable market enabled by digital model – Serviceable addressable market estimated at $155 billion Marketplace model is asset-light and powered by network effects – Strong long-term defensibility of carsharing model Differentiated tech of connected cars enables superior UX – Creates a seamless host and guest value proposition Demonstrated path to adjusted EBITDA profitability across top 20 cities, with strong profit margin per transaction and top 20 cities in aggregate have demonstrated adjusted EBITDA profitability during 2021 Fully funded1 business plan and highly attractive financial profile Getaround’s leading market position is reinforced by foundational partnerships with global automotive OEMs such as Toyota and integrations with car hailing apps such as Uber. There are 1.2 billion legacy cars and trucks that Getaround is able to digitize with its patented IoT technology. By 2025, Counterpoint Research expects there to be more than 270 million connected cars and trucks. There is a clear secular shift in the way many people view vehicle ownership; an attitude that is informed by the ethical imperatives of waste mitigation, efficiency, environmental protection and equity. By participating in the carsharing economy, we can reduce congestion, eliminate up to 100 billion pounds of CO2 for every million cars and trucks that join the platform, and provide a cost-effective transportation solution to communities around the globe. Transaction Overview The transaction represents a combined company pro forma equity value of approximately $1.2 billion assuming no redemptions from InterPrivate’s $259 million Trust. The business combination is expected to result in at least $225 million and up to $434 million in gross proceeds to the Company, including a convertible note commitment of up to $175 million provided by affiliates of Mudrick Capital Management, LP. The Company believes the net transaction proceeds will provide adequate funding to achieve adjusted EBITDA breakeven under its current business plan. The Boards of Directors of Getaround and InterPrivate have unanimously approved the transaction. The transaction will require the approval of the stockholders of both Getaround and InterPrivate, and is subject to other customary closing conditions, including the receipt of certain regulatory approvals. The transaction is expected to close in the second half of 2022. Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by InterPrivate with the Securities and Exchange Commission (“SEC”) and will be available on the InterPrivate website at www.ipvspac.com/ipva, Getaround Investor Relations page at www.getaround.com/investors and at www.sec.gov. Investor Conference Call Information Getaround and InterPrivate will host a joint investor conference call to discuss the proposed transaction, May 12, 2022 at 8:00 am ET. Interested parties may access the webcast on the Getaround Investor Relations page at www.getaround.com/investors. About Getaround Getaround connects safe, convenient and affordable cars with people who need them to live and work. We are the world's first carsharing marketplace offering a 100% digital experience with proprietary technology and data that make sharing vehicles superior to owning them. Our community includes guests who rely on our cars for on-demand mobility 24/7, and hosts who share cars on our platform including those who operate their own car sharing businesses. Founded in 2009, today Getaround is active in over 950 cities worldwide. About InterPrivate II Acquisition Corp InterPrivate II Acquisition Corp. is a blank check corporation led by Chairman and CEO Ahmed Fattouh, Executive Vice Presidents Brian Pham and Alan Pinto, General Counsel Brandon Bentley, and Vice President James Pipe. InterPrivate is further guided by a group of notable investors and operating executives who serve as board members and senior advisors including: Jeffrey Harris, venture capitalist and lead independent director at Chargepoint; Susan Decker, former President of Yahoo! and lead independent director at Berkshire Hathaway; Tracey Brophy Warson, former Chair of Citi Private Bank; and Matthew Luckett, founder of Lampros Capital and former CIO of Balestra Capital. Additional Information and Where to Find It This communication relates to the proposed transaction, but does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. InterPrivate intends to file with the SEC a registration statement on Form S-4 relating to the proposed transaction that will include a proxy statement of InterPrivate and a prospectus of InterPrivate. When available, the definitive proxy statement/prospectus and other relevant materials will be sent to all InterPrivate stockholders as of a record date to be established for voting on the proposed transaction. InterPrivate also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and securities holders of InterPrivate are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about InterPrivate, Getaround and the proposed transaction. Investors and securities holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by InterPrivate through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by InterPrivate may be obtained free of charge from InterPrivate’s website at https://ipvspac.com/ or by written request to InterPrivate at InterPrivate II Acquisition Corp., 1350 Avenue of the Americas, 2nd Floor, New York, NY 10019. Participants in Solicitation InterPrivate and Getaround and their respective directors and officers may be deemed to be participants in the solicitation of proxies from InterPrivate’s stockholders in connection with the proposed transaction. Information about InterPrivate’s directors and executive officers and their ownership of InterPrivate’s securities is set forth in InterPrivate’s filings with the SEC, including InterPrivate’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 31, 2022. To the extent that such persons’ holdings of InterPrivate’s securities have changed since the amounts disclosed in InterPrivate’s Annual Report on Form 10-K, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the names and interests in the proposed transaction of InterPrivate’s and Getaround’s respective directors and officers and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of InterPrivate, Getaround, First Merger Sub or Second Merger Sub, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom. Forward-Looking Statements This communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Getaround and InterPrivate, including statements regarding the benefits of the proposed transaction, the anticipated timing of the completion of the proposed transaction, the services offered by Getaround and the markets in which it operates, the expected total addressable market for the services offered by Getaround, the sufficiency of the net proceeds of the proposed transaction to fund Getaround’s operations and business plan and Getaround’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, (ii) the risk that the proposed transaction may not be completed by InterPrivate’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by InterPrivate, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the business combination agreement by the stockholders of InterPrivate and Getaround, the satisfaction of the minimum trust account amount following redemptions by InterPrivate’s public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third-party valuation in determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement, (vi) the effect of the announcement or pendency of the proposed transaction on Getaround’s business relationships, performance, and business generally, (vii) risks that the pendency or consummation of the proposed transaction disrupts current plans and operations of Getaround, (viii) the outcome of any legal proceedings that may be instituted against Getaround, InterPrivate or others related to the business combination agreement or the proposed transaction, (ix) the ability to meet New York Stock Exchange listing standards at or following the consummation of the proposed transaction, (x) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by a variety of factors, including changes in the competitive and highly regulated industries in which Getaround operates, variations in performance across competitors, changes in laws and regulations affecting Getaround’s business and the ability of Getaround and the post-combination company to retain its management and key employees, (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction (including the ability of Getaround to achieve adjusted EBITDA breakeven), gauge and adapt to industry trends and changing host, guest and consumer preferences, and identify and realize additional opportunities, (xii) the risk of adverse or changing economic conditions, including the resulting effects on consumer spending, and the possibility of rapid change in the highly competitive industry in which Getaround operates, (xiii) the risk that Getaround and its current and future partners are unable to successfully develop and scale Getaround’s products and offerings, or experience significant delays in doing so, (xiv) the risk that Getaround may never achieve or sustain profitability, (xv) the risk that Getaround will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (xvi) the risk that the post-combination company experiences difficulties in managing its growth and expanding operations, (xvii) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xviii) the ability to maintain strategic partnerships, including integrations and collaborations with original equipment manufacturers and ride hailing apps, (xix) the risk of product liability or regulatory lawsuits or proceedings relating to Getaround’s products and offerings, (xx) the risk that Getaround is unable to secure or protect its intellectual property, (xxi) the effects of COVID-19 or other public health crises on Getaround’s business and results of operations, the travel and transportation industries, travel and transportation trends, and the global economy generally, and (xxii) costs related to the proposed transaction. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of InterPrivate’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, the registration statement on Form S-4 and proxy statement/prospectus discussed above and other documents filed by InterPrivate from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Getaround and InterPrivate assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Getaround nor InterPrivate gives any assurance that either Getaround or InterPrivate will achieve its expectations. About Non-GAAP Financial Measures The Company uses non-GAAP measures including Gross Booking Value Net Marketplace Revenue, Trip Contribution Margin and adjusted EBITDA. These non-GAAP financial measures are provided to enhance the reader's understanding of the Company’s financial performance and its prospects for the future. Getaround’s management team uses these non-GAAP financial measures in assessing Getaround’s financial performance, as well as in planning and forecasting future periods. These non-GAAP financial measures are not computed according to GAAP, and the methods used to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental to and should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with Getaround’s consolidated financial statements prepared in accordance with GAAP. Readers are encouraged to review the reconciliations of these non-GAAP financial measures to the comparable GAAP measures, which are attached to this release, together with other important financial information including future filings with the SEC, on the Investor Relations page of the Company’s website at www.getaround.com/investors. Non-GAAP Reconciliation ($ in 000's) Fiscal year ending December 31, 2021 Net Revenue $ 63,067 Plus: EU insurance share 18,010 Net Marketplace Value (NMV) $ 81,076 Net Revenue $ 63,067 Plus: EU insurance share 18,010 Plus: Owner earnings 77,240 Plus: Coupons, makewells and pass-throughs 9,104 Gross Booking Value (GBV) $ 167,421 Net Revenue $ 63,067 Less: Lease revenue (1,947 ) Service Revenue $ 61,120 Service Revenue $ 61,120 Less: Cost of revenue (6,046 ) Less: Trip Support (23,010 ) Trip Contribution Profit $ 32,064 Trip Contribution Margin 52.5 % (1) Trip Support primarily consists of certain platform insurance expenses, claims support and customer relations costs. _________________________ 1 Trip Contribution Margin (non-GAAP) calculated as Trip Contribution Profit divided by Service Revenue. Trip Contribution Profit calculated as Service Revenue less Cost of Revenue, less Trip Support costs where Trip Support costs primarily consist of certain platform insurance expenses, claims support and customer relations costs — Non-GAAP reconciliations provided in tables below 2 Gross Booking Value (non-GAAP) represents total receipts billed through the Getaround marketplace, including amounts collected on behalf of hosts — Non-GAAP reconciliations provided in tables below 3 Net Marketplace Value (non-GAAP) represents Net Revenue plus EU Insurance Share — Non-GAAP reconciliations provided in tables below 4 This non-GAAP financial measure is defined as Consolidated Income / (Loss) from Operations plus Share-based compensation expense, plus Depreciation and Amortization, plus One-Time Expense (consists of expense related to contingent compensation, non-recurring special projects (such as restructuring) and extraordinary litigation). 5 Assumes $140 million in net proceeds at closing.

SAN FRANCISCO & NEW YORK--(BUSINESS WIRE)--Getaround (“Getaround” or “the Company”), the world’s leading global and digital carsharing marketplace, and InterPrivate II Acquisition Corp. (“InterPrivate”) (NYSE: IPVA), a publicly-traded special purpose acquisition company, entered into a definitive business combination agreement that will result in Getaround becoming a public company upon completion of the transaction. Upon closing, the combined company is expected to be listed on the New York Stock Exchange under the new ticker symbol “GETR.” The combined company will be led by Getaround Founder and CEO, Sam Zaid. Getaround’s mission is to fundamentally change the paradigm of car ownership. Getaround’s technology platform addresses the severe underutilization of vehicles throughout the world – 95% of a vehicle’s life is idle, resting in a parking space, rather than producing income for its owner and mobility solutions for the consumer. Through its proprietary technology, Getaround allows for an entirely digital and contactless carsharing experience unlike its competitors. Getaround Connect® enables consumers to reserve instantly and retrieve within minutes a nearby vehicle, without the need to fill out paperwork, wait in line or physically exchange keys. Additionally, the digital ease of Getaround Connect empowers hosts to build profitable and sustainable businesses by allowing them to easily scale and manage large fleets of vehicles across wide market regions. Management Commentary “Getaround is about empowering people everywhere to share cars and making the sharing experience increasingly simpler and more reliable through the use of digital and connected technology. Ultimately, our goal is to ensure Getaround is as convenient as personal car ownership,” said Zaid. “Consumers seeking to use a car or truck no longer need to stand in lines, fill out paperwork, or endure all of the hassles associated with owning and maintaining a vehicle. We are accelerating a much-needed transition from a legacy, analog car rental experience to a fully digital and ‘keyless’ carsharing experience. The transaction with InterPrivate is pivotal to our long-term growth strategy. Proceeds will be used for continued product innovation, to densify the supply of digitally connected cars in our existing markets, and to increase both the mix and proximity of our cars and trucks for consumers. We will also look to bring our proven model to new markets, both domestic and abroad. Getaround is thrilled to partner with a reputable and trusted partner such as InterPrivate to usher in this exciting new chapter in our company’s rich history as a publicly traded company.” “Getaround is one of the two largest players in the global car-sharing market that it helped pioneer,” said Ahmed Fattouh, Chairman & CEO of InterPrivate. "We are proud to partner with such an established leadership team — founder-led and bolstered by top executives with experience across leading Silicon Valley companies. As a relentless innovator, the Company has designed and deployed its proprietary Getaround Connect technology to build formidable network effects in cities across the globe, improving utilization of automotive assets and transforming the way its customers access transportation. Getaround has demonstrated years of strong execution — as evidenced by their robust growth, established scale, and demonstrated adjusted EBITDA profitability in key cities. Our merger is expected to accelerate the expansion of the Company's uniquely enduring asset-light marketplace within one of the largest consumer categories, providing more efficient mobility for global consumers along the way.” Jason Mudrick, Founder and Chief Investment Officer of Mudrick Capital Management, LP, a global investment firm, added, "We are excited to partner with Getaround on its business combination with InterPrivate to go public. The Company's loyal consumer following, established scale, attractive unit economics and sustainable technology advantages fit the profile we seek in our growth investment strategy – business models that have hit their inflection point and are ready for their public market debut. Our significant capital commitment of up to $175 million is expected to help Sam Zaid and his team execute on their global expansion plan. We are pleased to back InterPrivate in this important transaction and look forward to continuing our collaboration around their serial SPAC strategy." Key Investment Highlights: Top 2 player globally in peer to peer carsharing – Operates in more than 950 cities in 8 countries with 1.6 million guests using 66k cars shared by hosts Large total addressable market enabled by digital model – Serviceable addressable market estimated at $155 billion Marketplace model is asset-light and powered by network effects – Strong long-term defensibility of carsharing model Differentiated tech of connected cars enables superior UX – Creates a seamless host and guest value proposition Demonstrated path to adjusted EBITDA profitability across top 20 cities, with strong profit margin per transaction and top 20 cities in aggregate have demonstrated adjusted EBITDA profitability during 2021 Fully funded1 business plan and highly attractive financial profile Getaround’s leading market position is reinforced by foundational partnerships with global automotive OEMs such as Toyota and integrations with car hailing apps such as Uber. There are 1.2 billion legacy cars and trucks that Getaround is able to digitize with its patented IoT technology. By 2025, Counterpoint Research expects there to be more than 270 million connected cars and trucks. There is a clear secular shift in the way many people view vehicle ownership; an attitude that is informed by the ethical imperatives of waste mitigation, efficiency, environmental protection and equity. By participating in the carsharing economy, we can reduce congestion, eliminate up to 100 billion pounds of CO2 for every million cars and trucks that join the platform, and provide a cost-effective transportation solution to communities around the globe. Transaction Overview The transaction represents a combined company pro forma equity value of approximately $1.2 billion assuming no redemptions from InterPrivate’s $259 million Trust. The business combination is expected to result in at least $225 million and up to $434 million in gross proceeds to the Company, including a convertible note commitment of up to $175 million provided by affiliates of Mudrick Capital Management, LP. The Company believes the net transaction proceeds will provide adequate funding to achieve adjusted EBITDA breakeven under its current business plan. The Boards of Directors of Getaround and InterPrivate have unanimously approved the transaction. The transaction will require the approval of the stockholders of both Getaround and InterPrivate, and is subject to other customary closing conditions, including the receipt of certain regulatory approvals. The transaction is expected to close in the second half of 2022. Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by InterPrivate with the Securities and Exchange Commission (“SEC”) and will be available on the InterPrivate website at www.ipvspac.com/ipva, Getaround Investor Relations page at www.getaround.com/investors and at www.sec.gov. Investor Conference Call Information Getaround and InterPrivate will host a joint investor conference call to discuss the proposed transaction, May 12, 2022 at 8:00 am ET. Interested parties may access the webcast on the Getaround Investor Relations page at www.getaround.com/investors. About Getaround Getaround connects safe, convenient and affordable cars with people who need them to live and work. We are the world's first carsharing marketplace offering a 100% digital experience with proprietary technology and data that make sharing vehicles superior to owning them. Our community includes guests who rely on our cars for on-demand mobility 24/7, and hosts who share cars on our platform including those who operate their own car sharing businesses. Founded in 2009, today Getaround is active in over 950 cities worldwide. About InterPrivate II Acquisition Corp InterPrivate II Acquisition Corp. is a blank check corporation led by Chairman and CEO Ahmed Fattouh, Executive Vice Presidents Brian Pham and Alan Pinto, General Counsel Brandon Bentley, and Vice President James Pipe. InterPrivate is further guided by a group of notable investors and operating executives who serve as board members and senior advisors including: Jeffrey Harris, venture capitalist and lead independent director at Chargepoint; Susan Decker, former President of Yahoo! and lead independent director at Berkshire Hathaway; Tracey Brophy Warson, former Chair of Citi Private Bank; and Matthew Luckett, founder of Lampros Capital and former CIO of Balestra Capital. Additional Information and Where to Find It This communication relates to the proposed transaction, but does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. InterPrivate intends to file with the SEC a registration statement on Form S-4 relating to the proposed transaction that will include a proxy statement of InterPrivate and a prospectus of InterPrivate. When available, the definitive proxy statement/prospectus and other relevant materials will be sent to all InterPrivate stockholders as of a record date to be established for voting on the proposed transaction. InterPrivate also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and securities holders of InterPrivate are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about InterPrivate, Getaround and the proposed transaction. Investors and securities holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by InterPrivate through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by InterPrivate may be obtained free of charge from InterPrivate’s website at https://ipvspac.com/ or by written request to InterPrivate at InterPrivate II Acquisition Corp., 1350 Avenue of the Americas, 2nd Floor, New York, NY 10019. Participants in Solicitation InterPrivate and Getaround and their respective directors and officers may be deemed to be participants in the solicitation of proxies from InterPrivate’s stockholders in connection with the proposed transaction. Information about InterPrivate’s directors and executive officers and their ownership of InterPrivate’s securities is set forth in InterPrivate’s filings with the SEC, including InterPrivate’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 31, 2022. To the extent that such persons’ holdings of InterPrivate’s securities have changed since the amounts disclosed in InterPrivate’s Annual Report on Form 10-K, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the names and interests in the proposed transaction of InterPrivate’s and Getaround’s respective directors and officers and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of InterPrivate, Getaround, First Merger Sub or Second Merger Sub, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom. Forward-Looking Statements This communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Getaround and InterPrivate, including statements regarding the benefits of the proposed transaction, the anticipated timing of the completion of the proposed transaction, the services offered by Getaround and the markets in which it operates, the expected total addressable market for the services offered by Getaround, the sufficiency of the net proceeds of the proposed transaction to fund Getaround’s operations and business plan and Getaround’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, (ii) the risk that the proposed transaction may not be completed by InterPrivate’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by InterPrivate, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the business combination agreement by the stockholders of InterPrivate and Getaround, the satisfaction of the minimum trust account amount following redemptions by InterPrivate’s public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third-party valuation in determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement, (vi) the effect of the announcement or pendency of the proposed transaction on Getaround’s business relationships, performance, and business generally, (vii) risks that the pendency or consummation of the proposed transaction disrupts current plans and operations of Getaround, (viii) the outcome of any legal proceedings that may be instituted against Getaround, InterPrivate or others related to the business combination agreement or the proposed transaction, (ix) the ability to meet New York Stock Exchange listing standards at or following the consummation of the proposed transaction, (x) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by a variety of factors, including changes in the competitive and highly regulated industries in which Getaround operates, variations in performance across competitors, changes in laws and regulations affecting Getaround’s business and the ability of Getaround and the post-combination company to retain its management and key employees, (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction (including the ability of Getaround to achieve adjusted EBITDA breakeven), gauge and adapt to industry trends and changing host, guest and consumer preferences, and identify and realize additional opportunities, (xii) the risk of adverse or changing economic conditions, including the resulting effects on consumer spending, and the possibility of rapid change in the highly competitive industry in which Getaround operates, (xiii) the risk that Getaround and its current and future partners are unable to successfully develop and scale Getaround’s products and offerings, or experience significant delays in doing so, (xiv) the risk that Getaround may never achieve or sustain profitability, (xv) the risk that Getaround will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (xvi) the risk that the post-combination company experiences difficulties in managing its growth and expanding operations, (xvii) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xviii) the ability to maintain strategic partnerships, including integrations and collaborations with original equipment manufacturers and ride hailing apps, (xix) the risk of product liability or regulatory lawsuits or proceedings relating to Getaround’s products and offerings, (xx) the risk that Getaround is unable to secure or protect its intellectual property, (xxi) the effects of COVID-19 or other public health crises on Getaround’s business and results of operations, the travel and transportation industries, travel and transportation trends, and the global economy generally, and (xxii) costs related to the proposed transaction. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of InterPrivate’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, the registration statement on Form S-4 and proxy statement/prospectus discussed above and other documents filed by InterPrivate from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Getaround and InterPrivate assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Getaround nor InterPrivate gives any assurance that either Getaround or InterPrivate will achieve its expectations. About Non-GAAP Financial Measures The Company uses non-GAAP measures including Gross Booking Value Net Marketplace Revenue, Trip Contribution Margin and adjusted EBITDA. These non-GAAP financial measures are provided to enhance the reader's understanding of the Company’s financial performance and its prospects for the future. Getaround’s management team uses these non-GAAP financial measures in assessing Getaround’s financial performance, as well as in planning and forecasting future periods. These non-GAAP financial measures are not computed according to GAAP, and the methods used to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental to and should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with Getaround’s consolidated financial statements prepared in accordance with GAAP. Readers are encouraged to review the reconciliations of these non-GAAP financial measures to the comparable GAAP measures, which are attached to this release, together with other important financial information including future filings with the SEC, on the Investor Relations page of the Company’s website at www.getaround.com/investors. Non-GAAP Reconciliation ($ in 000's) Fiscal year ending December 31, 2021 Net Revenue $ 63,067 Plus: EU insurance share 18,010 Net Marketplace Value (NMV) $ 81,076 Net Revenue $ 63,067 Plus: EU insurance share 18,010 Plus: Owner earnings 77,240 Plus: Coupons, makewells and pass-throughs 9,104 Gross Booking Value (GBV) $ 167,421 Net Revenue $ 63,067 Less: Lease revenue (1,947 ) Service Revenue $ 61,120 Service Revenue $ 61,120 Less: Cost of revenue (6,046 ) Less: Trip Support (23,010 ) Trip Contribution Profit $ 32,064 Trip Contribution Margin 52.5 % (1) Trip Support primarily consists of certain platform insurance expenses, claims support and customer relations costs. _________________________ 1 Trip Contribution Margin (non-GAAP) calculated as Trip Contribution Profit divided by Service Revenue. Trip Contribution Profit calculated as Service Revenue less Cost of Revenue, less Trip Support costs where Trip Support costs primarily consist of certain platform insurance expenses, claims support and customer relations costs — Non-GAAP reconciliations provided in tables below 2 Gross Booking Value (non-GAAP) represents total receipts billed through the Getaround marketplace, including amounts collected on behalf of hosts — Non-GAAP reconciliations provided in tables below 3 Net Marketplace Value (non-GAAP) represents Net Revenue plus EU Insurance Share — Non-GAAP reconciliations provided in tables below 4 This non-GAAP financial measure is defined as Consolidated Income / (Loss) from Operations plus Share-based compensation expense, plus Depreciation and Amortization, plus One-Time Expense (consists of expense related to contingent compensation, non-recurring special projects (such as restructuring) and extraordinary litigation). 5 Assumes $140 million in net proceeds at closing.

NEW YORK, June 1, 2021 /PRNewswire/ -- InterPrivate II Acquisition Corp. (NYSE: IPVA) (the "Company") today announced that it received a notice from the New York Stock Exchange (the "NYSE") indicating that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the "Q1 2021 Form 10-Q") with the Securities and Exchange Commission (the "SEC"). The notice has no immediate effect on the listing of the Company's stock on the NYSE.