Nikola Corporation Releases Inaugural Sustainability Impact Report

PHOENIX – October 21, 2024 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, released their first-ever sustainability impact report today. Nikola’s 2023 Sustainability Impact Report covers environmental and social impacts, reporting, and progress towards Nikola’s sustainability priorities.

According to the Environmental Protection Agency (EPA), the transportation industry causes an estimated 28% of direct U.S. greenhouse gas (GHG) emissions. Medium and heavy-duty trucking represents approximately 23% of transportation industry GHG emissions.

“Nikola’s commitment to sustainability is not just trendy or a nice-to-have, it’s who we are, and the marketplace is realizing that it’s time to shed the old standards of the transportation industry for new solutions,” said Alexia Bednarz, Nikola’s Head of Sustainability. “And today, hundreds of Nikola zero-emissions trucks are on the road, delivering goods.”

In 2023, more than 10% of Nikola’s Coolidge manufacturing facility’s energy output was covered by solar power, and in 2023, Nikola outperformed internal manufacturing targets to reduce waste. Data highlights from the report include:

• Scope 1 and 2 greenhouse gas accounting (2023)
• 114 total vehicles sold (in 2023)
• 45% diversion rate of manufacturing waste (in 2023)
• 100% of scrapped lithium-ion batteries recycled or reused (in 2023)
• 192 metric tons of batteries reused and recycled (in 2023)
• 182 metric tons of hydrogen dispensed (from 12/27/23 to 9/30/24)
• 5,091 hydrogen fueling events (from 12/27/23 to 9/30/24)

“We believe there is both an opportunity and responsibility to participate in mitigating climate change,” said Bednarz. “The future is important to us at Nikola, so is the health and safety of drivers and communities surrounding ports, where Class 8 trucks are often found. We are seeing this momentum throughout calendar year 2024 with increased truck sales, more HYLA-authorized stations opened and a larger sustainability impact as zero tailpipe emissions trucking becomes more widespread in North America.”

ABOUT NIKOLA CORPORATION
Nikola Corporation’s mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem, covering supply, distribution and dispensing.

Nikola headquarters is based in Phoenix, Arizona with a manufacturing facility in Coolidge, Arizona.

Experience our journey to achieve your sustainability goals at nikolamotor.com or engage with us on social media via Facebook @nikolamotorcompany, Instagram @nikolamotorcompany, YouTube @nikolamotorcompany, LinkedIn @nikolamotorcompany or X / Twitter @nikolamotor.

FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the “Company”), including statements relating to: the momentum throughout calendar year 2024 with more Nikola trucks sold, more HYLA-authorized stations opened and a larger sustainability impact as zero tailpipe emissions trucking becomes more widespread in North America.  Forward-looking statements are predictions, projections, and other statements about future events 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 press release, including but not limited to: completion of the Company’s review of its third quarter results; changes to assumptions underlying vehicle sales; the ability of the Company to access sufficient capital to meet its requirements and fund its business; manufacturing delays and difficulties; risks related to the rollout of the Company’s hydrogen fueling infrastructure and the timing thereof; construction risks and delays; the availability of access to hydrogen refueling facilities; the level of and cancellation of customer orders; risks associated with manufacturing batteries and fuel cell power modules; variations in and characteristics of the hydrogen fueling location, including but not limited to fueling hardware and software protocol, fuel amount, and fueling conditions, any of which may affect refueling times; and the factors, risks and uncertainties described in the “Risk Factors” section of the Company’s annual report on Form 10-K for the year ended December 31, 2023 filed with the SEC, in addition to the Company’s subsequent filings 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, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

NIKOLA MEDIA CONTACT
[email protected]