OneWater Marine and Forza X1 Announce Strategic Partnership

BUFORD, Ga. – OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) and Forza X1, Inc. (NASDAQ: FRZA) (“Forza” or “Forza X1”) today announced that the Companies have entered into a strategic partnership in which OneWater and Forza X1 will partner creating a distribution channel for Forza’s integrated electric sports boats.

Forza X1, through a planned direct-to-consumer, all-digital sales platform, is advancing the adoption of sustainable recreational boating. Forza has assembled an industry leading team of engineers and boat builders that are singularly focused on leading marine electrification by manufacturing and selling a recreational electric boat without compromising performance, speed or comfort. Its initial dual console and center console 24-foot FX1 boats have been designed, powered, appointed and priced to target the largest segment of the recreational day boat market, which is 22’ to 25’.

“The Forza team is on the cutting edge of next-generation marine technology with their portfolio of innovative electric boat models. We are very proud to partner with the team on the frontier of marine electrification,” said Austin Singleton, Chief Executive Officer for OneWater Marine. “Our loyal and growing customer base places a high value on innovation and this partnership with Forza offers an exciting addition to our broad product portfolio for our customers.”

Under the terms of the agreement, OneWater and Forza X1 will provide customers with a multi-channel opportunity to design, order, finance and track their Forza X1 boat purchase, either through Forza’s web and app platform or kiosks at one of OneWater’s 96 retail locations. For customers who desire a more traditional boat buying experience, they will have the ability to engage one-on-one with sales representatives, experience test rides and pursue trade-in opportunities, which stands to benefit OneWater’s pre-owned boat inventory.

“OneWater is a marine industry powerhouse with a proven history of aggressive growth and strong execution, and this partnership provides us with a tremendous advantage as a young company. Their significant scale and best-in-class sales team complements our digital go-to-market strategy, enabling us to further our reach, sell more boats and engage more customers,” said Jim Leffew, President and Chief Executive Officer of Forza X1.

About OneWater Marine Inc.

OneWater Marine Inc. is one of the largest and fastest-growing premium marine retailers in the United States. OneWater operates a total of 96 retail locations, 10 distribution centers/warehouses and multiple online marketplaces in 20 different states, several of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, finance and insurance products, parts and accessories, maintenance, repair and other services.

About Forza X1, Inc.

Forza X1, Inc.’s mission is to inspire the adoption of sustainable recreational boating by producing stylish electric sport boats. We are focused on the creation, implementation and sale of electric boats utilizing our electric vehicle technology to control and power our boats and proprietary outboard electric motor. Our electric boats are being designed as fully integrated electric boats including the hull, outboard motor and control system. For more information, please visit www.forzax1.com.