Romeo SPAC Stockholder $11,990,000 Class Action Settlement

If you held RMG Acquisition Corp. Class A common stock as of December 23, 2020, you may be eligible to claim a portion of an $11,990,000 settlement from a class action lawsuit.

RMG Sponsor, LLC has agreed to pay $11,990,000 to settle a class action lawsuit for alleged breaches of fiduciary duty and misleading statements regarding the business combination with Romeo Systems, Inc.

Who Can Claim an Award?

To be eligible to claim an award, you must have held RMG Class A common stock as of December 23, 2020, and not have redeemed all of your shares.

The class includes all persons who held RMG Class A common stock at the close of the market on December 23, 2020, either of record or beneficially, and did not redeem all of their shares.

This includes their heirs, successors-in-interest, successors, transferees, and assigns.

What Awards Can Class Members Claim?

The settlement amount of $11,990,000 will be distributed among eligible class members. The exact amount each class member will receive depends on the number of valid claims submitted and the total value of the claims.

The Net Settlement Fund will be distributed on a pro rata basis based on the relative size of each claimant's Recognized Claim Amount:

• For each share of RMG Class A common stock held at the close of the market on December 23, 2020, and sold or redeemed before the close of the market on December 23, 2020, the Recognized Claim Amount is zero.
• For shares sold or converted to Romeo common stock and sold at a price below $10.18 from December 24, 2020, through October 14, 2022, the Recognized Claim Amount is $10.18 minus the sale price, plus nominal damages.
• For shares converted to Romeo common stock and exchanged for Nikola Corporation common stock on or around October 14, 2022, the Recognized Claim Amount is $9.83, calculated as $10.18 minus $0.35, plus nominal damages.

Nominal damages are calculated as follows:

• For shares sold or converted to Romeo common stock and sold at a price below $10.18 or converted to Romeo common stock and exchanged for Nikola Corporation common stock on or around October 14, 2022: $0.10 per share.
• For shares sold between $10.18 and $34.00, inclusive: (1 – (sale price / $34.00)) \* 0.143, rounded to two decimal places.
• For sale prices above $34.00: Nominal damages are zero.

Is Proof Required to Claim an Award?

Yes, proof is required to claim an award.

Claimants must submit a Proof of Claim and Release form, along with supporting documentation such as stockbroker confirmation slips, stockbroker statements, or other documents evidencing their holdings of RMG Class A common stock, purchases of RMG Class A common stock or Romeo common stock, and sales of RMG Class A common stock or Romeo common stock.

How to Claim an Award

To claim your award, you can submit a Proof of Claim and Release form either online or by mail. To file a claim online, visit the online claim form. If you prefer to submit your claim by mail, send the completed and signed Proof of Claim and Release form, along with all required supporting documentation, to:

Romeo SPAC Stockholder Settlement

Settlement Administrator

c/o Gilardi & Co. LLC

P.O. Box 301170

Los Angeles, CA 90030-1170

Submitting a Claim

1. Obtain the Proof of Claim and Release form from the official settlement website.
2. Complete the form with accurate information about your holdings, purchases, and sales of RMG Class A common stock and Romeo common stock.
3. Attach copies of supporting documentation, such as stockbroker confirmation slips or statements.
4. Sign the form and submit it online or mail it to the Settlement Administrator.

How do I Get Paid?

Once your claim is approved, you will receive your payment either by check or electronic payment, depending on the option you selected in your Proof of Claim and Release form.

Important Dates

• Deadline to File a Claim: October 30, 2024
• Fairness Hearing: October 18, 2024

When is the Romeo SPAC Stockholder Settlement Payout Date?

The payout date for the settlement will be determined after the court approves the settlement and all claims have been processed.

Why is There a Class Action Settlement?

The settlement resolves claims that RMG Sponsor, LLC and other defendants breached their fiduciary duties and made misleading statements about the business combination with Romeo Systems, Inc., which allegedly harmed RMG stockholders by dissuading them from redeeming their shares.

What Happens Next?

Next, the court will hold a Fairness Hearing on October 18, 2024, to determine whether to approve the settlement. If approved, the settlement funds will be distributed to eligible class members who submitted valid claims.