WARREN, Mich .– General Motors Co. (NYSE: GM) today announced that it has entered into an agreement whereby LG Electronics Inc. will reimburse GM for costs and expenses associated with the recall of the Chevrolet Bolt EV and EUV due to defects in manufacture of battery modules supplied by LG.

As a result of the deal, GM will recognize an estimated recovery in its third-quarter earnings that will offset $ 1.9 billion out of $ 2.0 billion in recalls related charges.

“LG is a valued and respected supplier to GM, and we are delighted to enter into this agreement,” said Shilpan Amin, GM’s vice president of global purchasing and supply chain. “Our engineering and manufacturing teams continue to work together to speed up production of new battery modules and we plan to start repairing customer vehicles this month.”

General Motors (NYSE: GM) is a global company focused on promoting a fully electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from consumer vehicles to high performance vehicles. General Motors, its subsidiaries and joint ventures sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information about the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, is available at https://www.gm.com.

MEDIA CONTACT:

Jim cain

Communication from the Director General

313-407-2843

[email protected]

INVESTOR CONTACT:

Michael heifler

GM Investor Relations

313-418-0220

[email protected]

Caution Regarding Forward-Looking Statements: This press release may include “forward-looking statements” within the meaning of US federal securities laws. Forward-looking statements are statements other than statements of historical fact. Forward-looking statements represent our current judgment on possible future events and are often identified by words such as “anticipate”, “appear”, “about”, “believe”, “continue”, “could”, “intended”, “Have an effect,” “estimate”, “evaluate”, “foresee”, “foresee”, “objective”, “initiative”, “intend”, “may”, “objective”, “prospect”, ” plan “,” potential “,” priorities “,” project “,” continue “,” seek “,” should “,” target “,” when “,” will “,” would “, or the negative of one such words or expressions. In making such statements, we rely on assumptions and analyzes based on our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors that we consider appropriate in the circumstances. We believe these judgments are reasonable, but such statements are not guarantees of future events or financial results, and our actual results may differ materially due to various factors, many of which are described in our most recent Annual Report on Form 10- K and our other filings with the US Securities and Exchange Commission. United. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to publicly update or otherwise revise forward-looking statements, whether as a result of new information, events future or other factors that affect the subject matter of such statements, unless we are expressly required by law to do so.