Bird Global Closes Financing and Completes Transaction with Bird Canada

Bird Global, Inc. (NYSE:BRDS, “Bird”), a leader in environmentally friendly electric transportation, today announced that it has completed the transaction announced last month, which strengthens Bird’s liquidity position and balance sheet and positions the company to reach its 2023 goal of adjusted EBITDA profitability on a full year basis in 2023. Through the transaction, Bird:

• Received $30 million in cash by way of convertible notes, including a new $2 million personal investment by Travis VanderZanden, Bird’s Founder & Chair of the Board and a personal investment by Shane Torchiana, Bird’s CEO. Due to additional investment interest received, Bird intends to increase the size of this fundraise and to close on additional funding this quarter.
• Added new leadership with proven experience in scaling organizations and operating profitably. Additional details on new Board and leadership team members are available in the press release issued December 20, 2022.
• Acquired Bird Canada’s micromobility operations, to be integrated with Bird Global this quarter. These markets will add new profitable operations and further consolidate Bird’s leadership in North American micromobility.

“I’m extremely excited by the road ahead and what we can do as one team,” said Shane Torchiana, CEO, Bird. “With this additional capital, we have bolstered our liquidity outlook and believe we are positioned to reach our goal of adjusted EBITDA profitability in 2023. We’ve seen the incredible impact that micromobility has for hundreds of communities around the world, enabling millions of riders to move around conveniently and communities to achieve their climate and mobility goals. I’m thrilled to welcome the Bird Canada team to turbo charge Bird’s global impact.”

The transaction was unanimously approved by Bird’s Board of Directors. For further information regarding terms and conditions of the transaction, please see Bird’s Current Report on Form 8-K, filed in connection with the closing of the transaction.

About Bird

Bird is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird is rapidly expanding. Today, Bird has facilitated over 175 million rides on Bird vehicles through its ride-sharing business and makes its products available for purchase at www.bird.co and via leading retailers and distribution partners. Bird partners closely with the cities in which it operates to provide a reliable and affordable transportation option for people who live and work there.