TORONTO — July 30, 2024 —  Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, together with ITD Industries, opened the first commercial hydrogen refueling station for the heavy-duty transportation sector in Ontario. The station, located at ITD Industries’ headquarters in Etobicoke, ON, is situated at 161 The Westmall, a pivotal location near Highway 401, Highway 427, and the Queen Elizabeth Highway (QEW).

Notable guests in attendance at a special launch event included Hon. Doug Ford, Premier of Ontario, Hon. Sam Oosterhoff, Associate Minister of Energy-Intensive Industries of Ontario and other provincial and federal dignitaries, as well as notable business leaders within the energy, retail and transportation industry such as Walmart Canada, Canadian Tire and Loblaws.

This station marks a significant milestone for Nikola and ITD Energy, a subsidiary of ITD Industries, which is the first Canadian dealer in the Nikola sales and service network. The station uses a 700-bar pressure-fill system, allowing hydrogen fuel to be dispensed into onboard storage for long-range vehicles, such as the Nikola hydrogen fuel cell electric Class 8 truck.

“It is inspiring to witness the vision of a hydrogen-powered future coming to life with the opening of this refueling station in the greater Toronto area,” said Nikola CEO Steve Girsky. “Collaborating with ITD Industries, we are not only providing trucks but also the fueling solutions to support the entire hydrogen ecosystem. This station marks significant progress in our mission to build a comprehensive hydrogen infrastructure in North America.”

Together with partners such as the Canadian Hydrogen Association and other private and public organizations, including Walmart Canada, which recently became the first major retailer in Canada to use a Nikola hydrogen fuel cell electric truck in its fleet, Nikola and ITD Industries are spearheading the transformation of Ontario and Canada’s commercial transportation sector towards a carbon-free future.

“The presence of so many distinguished public and private figures, underlines and validates the importance of this station launch to the future of long-haul carbon-free commercial transportation. This station is the first of several ITD is planning on erecting across Ontario with Nikola Corporation as we aim to build a hydrogen fueling corridor connecting Windsor to Montreal,” mentioned Philip Turi, COO of ITD Industries during the opening remarks.

“Congratulations to Nikola Corporation and ITD Industries on building the first commercial hydrogen refueling station for the heavy-duty transportation sector in Ontario,” said Premier Doug Ford. “This milestone marks a significant step as we work together with businesses, industry and all levels of government to build reliable, affordable, and clean energy solutions to power our province’s growth.”

Nikola anticipates significant growth in Canada with eligibility received for the Incentives for Medium- and Heavy-Duty Zero-Emission Vehicles (iMHZEV) Program. The iMHZEV program offers Canadian organizations (for profit and non-profit), in all provinces, territories and municipalities, up to $200,000 (CAD) in incentives towards the purchase or lease of the Nikola hydrogen fuel cell electric truck and up to $150,000 (CAD) in incentives towards the purchase or lease of the Nikola battery-electric truck.

Furthermore, Nikola is eligible for the Clean BC Go Electric Rebates in the province of British Columbia, with $150,000 (CAD) in incentives towards the purchase or lease of both the Nikola hydrogen fuel cell and battery-electric trucks. This provincial incentive is stackable with the iMHZEV federal incentive.

Earlier this year, Alberta’s first commercial hydrogen refueling station was unveiled signaling the beginning of an expanded hydrogen refueling network across Western Canada. This HYLA refueling station is situated along Alberta’s two largest urban centers, the Edmonton region and Calgary, and will play a key role in decarbonizing one of Western Canada’s busiest highways.   

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 benefits and capabilities of the Ontario, Canada station and related hydrogen infrastructure; about the station beginning a pivotal milestone in the Company’s strategic plan; about the station marking a significant stride toward sustainable transportation; and about the stations ability to drive positive environmental impact; providing customers access to hydrogen; working with partners to establish a fueling ecosystem; and the Company’s beliefs regarding its competitive position and the benefits thereof. 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: 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; 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; variations in terrain, temperature, speed, road conditions, truck configuration, payloads and other variables which may affect range; the Company’s ability to remain listed on Nasdaq; and the factors, risks and uncertainties described in the “Risk Factors” section of the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2024 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.

MEDIA INQUIRIES
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PHOENIX – July 9, 2024 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced it will report its second quarter ended June 30, 2024 financial results and business updates on Friday, August 9, 2024. On that day, Nikola’s management will hold a conference call and webcast at 10:30 a.m. ET (7:30 a.m. PT) to review and discuss the company’s business and outlook.

To augment Nikola’s engagement with its shareholders and strengthen communication with investors, Nikola will utilize a Q&A platform developed by Say Technologies to allow verified retail and institutional investors to submit and upvote questions. Management will address a selection of the questions relating to Nikola’s business and financial results on the earnings call.  

The platform will open on August 1, 2024, at 10 a.m. ET (7 a.m. PT) and close on August 8, 2024, at 10 a.m. ET (7 a.m. PT). Please submit questions here.

What: Date of Nikola Q2 2024 Financial Results and Q&A Webcast 
When: Friday, August 9, 2024
Time: 10:30 a.m. ET (7:30 a.m. PT) 
Webcast: To attend, click here. An archived webcast of the conference call will be accessible from the Investor Relations section of the company’s website.  

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 Twitter @nikolamotor.

INVESTOR RELATIONS 
 
MEDIA RELATIONS
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PHOENIX – July 2, 2024 – For Q2 2024, Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, wholesaled 72 Class 8 Nikola hydrogen fuel cell trucks, above the high end of truck sales guidance of 60 units.   

For the first half of 2024, Nikola wholesaled 112 hydrogen fuel cell trucks.  

“We have maintained our 2024 momentum with solid wholesale numbers, new customers such as Walmart Canada, and repeat customers like 4GEN and IMC, purchasing vehicles through our dealer network,” said Nikola CEO Steve Girsky. “We are firmly on the field and are continuing to secure our first-mover advantage in zero-emissions Class 8 trucks in North America, as well as with our HYLA hydrogen refueling solutions.” 

All Nikola trucks are assembled in Coolidge, Ariz.  

NOTE: Nikola has not completed its quarterly review process or the preparation of its financial statements for the second quarter ended June 30, 2024.  

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.

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 benefits and capabilities of the Long Beach station or the planned HYLA fueling solutions and related hydrogen infrastructure;  about the station beginning a pivotal milestone in the Company’s strategic plan; about the station marking a significant stride toward sustainable transportation; and about the stations ability to drive positive environmental impact; providing customers access to hydrogen; working with partners to establish a fueling ecosystem; and the Company’s beliefs regarding its competitive position and the benefits thereof. 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: 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; 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; variations in terrain, temperature, speed, road conditions, truck configuration, payloads and other variables which may affect range; the Company’s ability to remain listed on Nasdaq; and the factors, risks and uncertainties  described in the “Risk Factors” section of the Company’s annual report on Form 10-Q for the quarter ended March 31, 2024 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.

MEDIA INQUIRIES
[email protected]

MISSISSAUGA, ON – June 27, 2024 – Walmart Canada’s new hydrogen fuel cell-powered electric semi-truck is now on the roads in Mississauga, Ontario as the retailer continues its ambitious journey towards a 100% alternatively-powered fleet.

Walmart Canada is the first major retailer in Canada to introduce a hydrogen fuel cell electric semi-truck to its fleet. Operating with zero tailpipe emissions, the Nikola Hydrogen Fuel Cell EV Class 8 tractor has a range of about 800 kilometres and on average can avoid 97 metric tons of CO2 tailpipe emissions annually according to the manufacturer.* According to Nikola, Walmart Canada is also the first retail fleet to operate one of these trucks in North America.

The introduction of trucks powered by hydrogen fuel opens the door to longer-haul travel with alternative power, extending the range that’s currently possible with the fleet’s electric options. This first hydrogen FCEV was sourced by Etobicoke, Ontario-based ITD Industries Inc., an industry-leading transportation solutions provider, and will be deployed in Ontario for longer-haul trips.

“We’re proud to be introducing Walmart Canada’s first hydrogen fuel cell electric vehicle as a major milestone on our journey to becoming a regenerative company,” said Gonzalo Gebara, president and CEO, Walmart Canada. “This is a first for a retailer in Canada and is an example of how we will continue to push forward, embrace new technology and spark change within the industry.”

“At Nikola, we are incredibly proud to support Walmart’s sustainability initiatives and to be supporting their historic milestone of being the first retail fleet in Canada to operate a hydrogen fuel cell electric semi-truck,” said Steve Girsky, Nikola President and CEO. “This collaboration with Walmart Canada, a brand committed to a more sustainable future, aligns perfectly with our mission to drive innovation and environmental responsibility in the transportation industry. This achievement underscores our shared vision for a zero emissions future and the positive impact we can make together for our communities and the planet overall.”

“As our government massively expands production of clean, reliable and affordable energy we’re creating an environment for businesses to invest and create new jobs,” said Stephen Lecce, Ontario’s Minister of Energy and Electrification. “It’s no surprise that Walmart has chosen to deploy its first hydrogen-powered semi-truck in its fleet here in Ontario. We’re rapidly building out Ontario’s hydrogen economy with new production projects that are going to help forward-looking businesses across the province transition to hydrogen vehicles and reduce their emissions.”

“Walmart Canada has an ambitious plan to power 100% of our fleet with alternative power. We’re proud to be the first retailer in Canada to introduce a hydrogen fuel cell semi-truck to our fleet as a major milestone towards achieving that goal,” said Michael Buna, senior director, national fleet, Walmart Canada. “As we work to be more sustainable in our day-to-day fleet operations, embracing additional types of alternative power allows us to go further, faster.”

The Nikola hydrogen fuel cell electric semi-truck carries high-pressure gaseous hydrogen onboard in specialized tanks, similar to how a conventional truck carries diesel. The hydrogen then runs through the fuel cell stack, which is converted to electricity by combining it with oxygen, with water vapor as the only byproduct. This electric power is transferred to the high-voltage power-net, which can charge the on-board batteries, and transfer power to the pavement via an e-axle with integrated electric motors.

According to Natural Resources Canada, hydrogen is the simplest, lightest and most abundant element on earth, has the highest energy per unit of any fuel and plays a critical role in working towards a carbon-neutral future.

ABOUT WALMART CANADA
Walmart Canada operates a chain of more than 400 stores nationwide serving 1.5 million customers each day. Walmart Canada’s flagship online store, Walmart.ca is visited by more than 1.5 million customers daily. With more than 100,000 associates, Walmart Canada is one of Canada’s largest employers and is ranked one of the country’s top 10 most influential brands. Walmart Canada’s extensive philanthropy program is focused on supporting Canadian families in need, and since 1994 Walmart Canada has raised and donated more than $750 million to Canadian charities. Additional information can be found at walmartcanada.ca and on Walmart Canada’s social media pages – Facebook, X (formerly known as Twitter), Instagram and LinkedIn. 

LAS VEGAS –– May 21, 2024 — The 2024 Advanced Clean Transportation (ACT) Expo marks another step in decarbonizing the trucking industry for Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand and AiLO Logistics, a major drayage carrier operating in the Ports of Los Angeles and Long Beach. Today, it is announced that AiLO has placed a 100-truck order of Nikola hydrogen fuel cell electric vehicles (“FCEVs”) from Tom’s Truck Centers, a member of the Nikola sales and service dealer network. Deliveries are scheduled for 2025.

As part of AiLO’s ongoing efforts to advance sustainable logistics services, the company’s drayage division is poised for expansion. This includes incorporating 100 Nikola hydrogen FCEVs into their operations to meet the growing demands of the port industry.

“Nikola trucks are on the road today, and the biggest test of our trucks is measured by our customers and their repeat orders,” said Ryan Clayton, Global Head of Sales, Nikola Corporation. “Having a prominent and mission-driven customer in AiLO not only purchase trucks for 2024 but double their order for 2025 is an honor for our organization and a testament to their drive to make a difference. We are glad to support with Class 8 vehicles as well as our HYLA energy infrastructure.”

AiLO, a newly rebranded company combining other corporations, including MDB Transportation, had previously ordered 50 Nikola FCEVs from Tom’s Truck Centers. Deliveries from that original order have commenced and are ongoing throughout 2024.

“We’re not just in the business of moving goods; we’re in the business of moving businesses forward. Through innovation, technology, and sustainable practices, we aim to redefine the logistics landscape and drive positive change in the industry,” said Jack Khudikyan, AiLO CEO. “This strategic move to incorporate Nikola FCEVs into our operations reaffirms our commitment to environmental stewardship and underscores our proactive approach toward embracing cutting-edge technologies.”

One of the distinctive black and colored-striped AiLO trucks is featured at Nikola’s Ride and Drive event area at the 2024 ACT Expo.

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.

ABOUT AiLO
AiLO, which stands for “Ai Logistics,” is a leading provider of port drayage services in the Ports of Los Angeles, Long Beach, and other major ports nationwide, reaffirms its dedication to sustainability and innovation with a significant milestone in its fleet technology.

The significance of this transition is highlighted by recent statistics from the Port of Los Angeles, where, in the first four months of 2024, local dockworkers moved a staggering 3,150,841 Twenty-Foot Equivalent Units (TEUs) across Los Angeles marine terminals. This marked a remarkable increase of nearly 25% compared to the previous year, reflecting the escalating demand for efficient and sustainable logistics solutions.

In line with our commitment to decarbonization, AiLO was one of the first fleets to utilize near-zero technology, powered by Compressed Natural Gas (CNG) and Renewable Natural Gas (RNG). This initiative not only aligns with our customers’ Green Supply Chain Goals (GSG) but also underscores our mission of achieving zero emissions in our operations.

AiLO’s comprehensive product offerings encompass a wide range of services tailored to meet the diverse needs of our clients, including Drayage, 3PL, Dedicated Service, Cartage, Local and Regional Haul, Cross-Border Operations, and Warehouse and Cross-Dock Solutions. Each service is delivered with a steadfast commitment to excellence, reliability, and environmental responsibility.

NIKOLA 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 expected timing of deliveries for orders from AiLO Logistics; and the Company’s belief that the biggest test of its trucks is measured by its customers and their repeat orders. 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: 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; the Company’s ability to remain listed on Nasdaq; 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.

MEDIA INQUIRIES
Nikola Corporation
[email protected]

PHOENIX –– May 8, 2024 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, proudly announces the opening of its latest HYLA high-pressure modular refueling station and facility in Southern Calif.

Situated near the Port of Long Beach at 2267 W. Gaylord St., this new station commenced operations on May 4, 2024. This launch is yet another pivotal milestone in Nikola’s strategic plan, aiming to establish a network of up to nine refueling solutions by mid-2024, with a total of 14 operational sites slated for completion by year-end, which include a combination of HYLA modular fuelers and partner stations such as FirstElement Fuels’ in the Port of Oakland.

Complementing the infrastructure is Nikola’s unwavering commitment to providing an exceptional customer experience, offering round-the-clock assistance through dedicated HYLA Ambassadors and Operation Technicians, ensuring seamless and efficient fueling.

“We are thrilled to inaugurate our second HYLA hydrogen refueling station in Southern California, marking a significant stride toward sustainable transportation,” said President of Energy Ole Hoefelmann. “Our heartfelt appreciation extends to the City of Long Beach and the Long Beach Fire Department for their instrumental role in realizing this vision. With multiple stations in the pipeline this year, we are steadfast in our mission to pioneer zero-emission trucking solutions and drive positive environmental impact.”

Through the alignment with notable industry partners, Nikola is actively securing its hydrogen supply chain and expanding its HYLA refueling infrastructure to support increased demand. This ongoing development underscores Nikola’s commitment to accelerating the adoption of hydrogen fuel cell electric trucks and advancing the decarbonization agenda in transportation.

The HYLA refueling network plans to offer a diverse portfolio of refueling solutions to Nikola’s hydrogen fuel cell electric vehicles and other Class 8 customers, including modular and permanent HYLA stations, ”behind-the-fence,” and partnerships with public truck stops. Notably, this expansion includes a recent 10-year agreement with FirstElement Fuel for a hydrogen refueling station in Oakland, Calif.

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.

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 benefits and capabilities of the Long Beach station or the planned HYLA fueling solutions and related hydrogen infrastructure;  about the station beginning a pivotal milestone in the Company’s strategic plan; about the station marking a significant stride toward sustainable transportation; and about the stations ability to drive positive environmental impact; providing customers access to hydrogen; working with partners to establish a fueling ecosystem; and the Company’s beliefs regarding its competitive position and the benefits thereof. 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: 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; 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; variations in terrain, temperature, speed, road conditions, truck configuration, payloads and other variables which may affect range; the Company’s ability to remain listed on Nasdaq; and the factors, risks and uncertainties  described in the “Risk Factors” section of the Company’s annual report on Form 10-Q for the quarter ended March 31, 2024 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.

MEDIA INQUIRIES
[email protected]

• Continued to execute our plan to ramp up hydrogen fuel cell electric trucks (FCEVs) in 2024
  • Wholesaled 40 FCEVs in Q1, all designated for end fleets, exceeding high-end of guidance range
  • Marked the second quarter of serial production of FCEVs; Program-to-date, Nikola has wholesaled 75 FCEVs
• Green shoots in new markets like N.Y., meeting the demands of fleet users beyond Calif.
• Expanded HYLA’s North American reach. During the quarter, we opened:
  • HYLA hydrogen modular refueling stations in Ontario and near the Port of Long Beach, Calif.
  • HYLA’s first hydrogen refueling station in Alberta, Canada to support fleets along the busy Edmonton to Calgary freight corridor
• Seeing opportunities in constructive green policies
• Completed first delivery of remediated BEV back to customer in Q1

PHOENIX – May 7, 2024 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today reported financial results and business updates for the quarter ended March 31, 2024.

“We continue to move forward rapidly and execute our plans. And please keep that in mind – we are in the execution phase, not the planning or concepting phase,” said Steve Girsky, President and CEO of Nikola. “Last quarter, I talked about getting on the field with the first deliveries of our hydrogen fuel cell electric trucks. Today, we are executing plays, competing, and cultivating more green shoots as we expand upon current markets and enter new ones.”

Hydrogen Fuel Cell Electric Truck
At the end of Q1, we exceeded the high-end of the guidance range by delivering 40 FCEVs, all designated for end fleets. That makes 75 wholesaled FCEVs in the first two quarters of serial production. We’re seeing green shoots with repeat and new fleets, some in new markets such as N.Y. While our initial focus has been Calif. and Canada, we can expand our reach to meet the demands of end fleet users virtually anywhere in the U.S.

Program-to-date, Nikola FCEVs have accumulated over 830,000 miles with an average fuel economy exceeding our target of 7.2 mi/kg. We’re doing what it takes to delight prospective and existing customers with the best possible experience. 

Energy
Our HYLA team is executing its Hydrogen Highway Plan, and we remain on track. Previously we had committed to nine additional HYLA refueling stations in Calif. by year-end 2024. Now we are expecting to provide nine hydrogen fueling solutions by mid-year 2024 and 14 by year-end 2024. These solutions include modular fuelers and partner stations in Calif., Canada and our home station at our Coolidge, Ariz. manufacturing facility. We want to emphasize that building the hydrogen ecosystem requires industry wide collaboration for the benefit of all. We need partners and they come in different forms and stages of infrastructure development. The shared mission is to build an open ecosystem accessible to all.  

Constructive Green Policies
We maintained our dominant market share of HVIP vouchers for Class 8 FCEVs, ending the quarter with 362 of 367 or 99% of the unredeemed vouchers that were requested in 2023 through March 2024. On the Class 8 BEV side, we ended Q1 with 85 unredeemed vouchers or 30% market share. While HVIP is only one program, we’re encouraged by the progress in constructive green policies. Two in particular, help us fund our business. CARB’s Heavy-Duty Omnibus Regulation allows us to monetize the NOx and particulate matter or PM credits we generate from selling zero-emissions trucks on a model year basis. We are pleased to confirm that Nikola has executed its first sale agreement for credits generated for Model Year 22 and revenue from this transaction will be recognized in Q2 2024. We expect future revenue from the sale of CARB credits to grow over time and be meaningful. 

Battery-Electric Truck
Lastly, we completed the first delivery of a remediated BEV in Q1. We continue to prioritize returning BEVs to customers and dealers and now expect to complete remediation of these units by year-end 2024. Our ability to sell Nikola’s on-hand inventory, however, will be dependent upon future battery supply; we now expect to opportunistically sell on-hand inventory for revenue in 2025. 

We’ve also taken this opportunity to “future proof” the BEV 2.0, as it now shares significant software commonality with the battery and operating systems on the FCEV, allowing customers to receive next-generation upgrades seamlessly over-the-air as they are deployed. We’ve kept our fleet users front and center as we’ve engineered over-the-air enhancements, including dynamic data gathering for predictive diagnostics, improved truck performance and field issue identification. We’ve also deployed new Advanced Driver Assistance Systems (ADAS) features to effectively manage powertrain demand in aggressive route conditions such as mountainous driving.

First Quarter Financial Highlights

Webcast and Conference Call Information
Nikola will host a webcast to discuss its first quarter results and business progress at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time) on May 7, 2024. To access the webcast, parties in the United States should follow this link:  https://www.webcast-eqs.com/nikola20240507/en.

The live audio webcast, along with supplemental information, will be accessible on the Company’s Investor Relations website at https://nikolamotor.com/investors/news?active=events. A recording of the webcast will also be available following the earnings call.

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.

For more information visit our website, 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 Company’s future financial and business performance, business plan, strategy, focus, opportunities and milestones; customer demand for trucks; the Company’s beliefs regarding its competition and competitive position; the Company’s business outlook; the Company’s expectations regarding hydrogen refueling solutions; expected fueling capacity of the modular refueling stations; expectations related to the battery-electric truck recall, including timing of battery replacement and truck deliveries and sales; the Company’s beliefs regarding the benefits and attributes of its trucks, and customer experience; and government incentives including CARB credits and expectations regarding related revenue  . These forward-looking statements other than statements of historical fact, and generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. 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: successful execution of the Company’s business plan; design and manufacturing changes and delays, including shortages of parts and materials and other supply challenges; general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; demand for and customer acceptance of the Company’s trucks and hydrogen refueling solutions; the results of customer pilot testing; the execution and terms of definitive agreements with strategic partners and customers; the failure to convert LOIs or MOUs into binding orders; the cancellation of orders; risks associated with development and testing of fuel cell power modules and hydrogen storage systems; risks related to the recall, including higher than expected costs, the discovery of additional problems, delays retrofitting the trucks and delivering such trucks to customers, supply chain and other issues that may create additional delays, order cancellations as a result of the recall, litigation, complaints and/or product liability claims, and reputational harm; risks related to the rollout of the Company’s business and milestones and the timing of expected business milestones; the effects of competition on the Company’s business; the Company’s ability to raise capital; the Company’s ability to achieve cost reductions and decrease its cash usage; the grant, receipt and continued availability of federal and state incentives; and the factors, risks and uncertainties regarding the Company’s business described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K, as amended, 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 the Company’s 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.

Use of Non-GAAP Financial Measures
This press release references Adjusted EBITDA and non-GAAP net loss per share, basic and diluted, all of which are non-GAAP financial measures and are presented as supplemental measures of the Company’s performance. The Company defines Adjusted EBITDA as earnings before interest expense, taxes, depreciation and amortization, stock-based compensation expense, and certain other items determined by the Company. Non-GAAP net loss is defined as net loss adjusted for stock-based compensation expense and certain other items determined by the Company. Non-GAAP net loss per share, basic and diluted is defined as non-GAAP net loss divided by weighted average basic and diluted shares outstanding. These non-GAAP measures are not substitutes for or superior to measures of financial performance prepared in accordance with generally accepted accounting principles in the United States (GAAP) and should not be considered as an alternative to any other performance measures derived in accordance with GAAP.

The Company believes that presenting these non-GAAP measures provides useful supplemental information to investors about the Company in understanding and evaluating its operating results, enhancing the overall understanding of its past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by its management in financial and operational-decision making. However, there are a number of limitations related to the use of non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore any non-GAAP measures the Company uses may not be directly comparable to similarly titled measures of other companies.

INVESTOR INQUIRIES:
[email protected]

PHOENIX – April 30, 2024 — In a recent social media post, Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, invited NKLA stockholders to submit questions related to the Proxy Statement filed earlier in the month. Steven Shindler, Chairman of the Board at Nikola, recorded a video addressing key questions about Proposal 2, which includes a reverse stock split.

The video addresses one of the five proposals to be voted on at the June 5, 2024, Annual Stockholder Meeting. The full video and transcript of the interview can be accessed here.

In the video, Shindler elaborated on the rationale behind Proposal 2 — the recommendation of a reverse split:

“We must eliminate the distraction of delisting and position ourselves to raise capital more efficiently and effectively. We believe that if we can achieve a share price at a more consistent level with the Russell 3000 companies, it will encourage investor interest and improve the marketability of our common stock to an even broader range of investors.”

Among the questions addressed by Shindler were:

• What is a reverse split and how does it impact NKLA stockholders and the company?
• Why is a reverse split being proposed now?
• What are the advantages of a reverse split?

Proposal 2 is up for a vote of stockholders following extensive analysis and consultations with financial advisors to explore options for regaining compliance with Nasdaq listing rules and the need to secure future capital to sustain the company’s business.

NKLA stockholders are encouraged to VOTE IN FAVOR of all five proposals, notably for each of the Nikola nominees for the Board of Directors in Proposal 1, and the anticipated positive impact of the reverse stock split in Proposal 2 in addressing potential delisting concerns and resetting the company’s financial foundation.

Nikola invites NKLA stockholders to continue submitting questions, as ongoing communications are planned to provide answers to those most frequently asked.

For other company updates, please join the Nikola Q1 2024 earnings call on Tuesday, May 7.

Every vote matters. Stockholders must ACTIVELY VOTE by 11:59 p.m., Eastern Time, on June 4, 2024, for their vote to count. Stockholders as of the close of business on April 19, 2024, are entitled to vote, even if they no longer own the shares.

Voting is quick and simple:

• BY PHONE: Call Alliance Advisors, Nikola’s proxy solicitor, toll-free at (855) 935-2562 if in North America. International voters can call +1 (551) 210-9929. You can also contact Alliance Advisors if you have any questions about voting.
• BY EMAIL: Message Alliance Advisors at [email protected]. 
• BY INTERNET: Vote at www.proxyvote.com using your control number by following the instructions shared by your broker, bank or other nominee.
  • If you are a Robinhood holder, proxy voting emails are sent by [email protected] and voting is hosted by Say Technologies. You will be able to vote and view materials directly from your email.

The 2024 Annual Meeting of Stockholders will be held virtually on Wednesday, June 5, 2024, at 1:00 p.m., Pacific Time via live audio webcast. To attend the meeting, register in advance at www.viewproxy.com/nkla/2024 by 11:59 p.m., Pacific Time on June 4, 2024.

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 transportation and over-the-road freight services. With our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, we are driving the advancement of the complete hydrogen refueling ecosystem. This encompasses supply, distribution, and dispensing, reflecting our commitment to sustainable practices and a cleaner future.

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

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 communication contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the “Company” or “Nikola”). Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions that are not historical fact and, as a result, are subject to risks and uncertainties. Forward-looking statements include but are not limited to: the Company’s future financial outlook and future business performance; and the Company’s beliefs regarding the potential benefits of a reverse stock split, including its potential effect on the Company’s stock price, Nasdaq listing, the ability to increase investor interest and facilitate raising future capital and other intended benefits. Risks and uncertainties that may cause actual results to differ include factors generally affecting the business, operations, and financial condition of the Company; the actual effect of any reverse stock split on the Company’s stock price; the ability of the Company to attract additional investors; 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, as amended, filed with the Securities and Exchange Commission (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 to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date of this press release. 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.

INVESTOR INQUIRIES
[email protected]

MEDIA INQUIRIES
[email protected]

Nikola Corporation (NKLA), EMBR Motors, Inc., Cole Cannon and David “Dave” Sparks are pleased to announce that they have amicably resolved the claims and disputes between them in the lawsuit pending in the U.S. District Court for the District of Arizona, styled Nikola Corp. v. EMBR Motors, Inc. et al., No. 2:24-cv-00690-DWL.  The lawsuit’s claims against EMBR Motors, Inc. and Messrs. Cannon and Sparks — which claims they deny — are being dismissed with prejudice and without any finding of liability or fault against them. 

After reviewing the plans of Nikola’s current management and Board of Directors, Cole Cannon, David “Dave” Sparks, Paul Southam and Hans Peterson, four of the five individuals who had previously been nominated by M&M Residual, LLC to run as director nominees, decided to stand down and no longer seek election to the Board of Directors at Nikola’s 2024 Annual Meeting.  M&M Residual, the nominating stockholder of the insurgent slate, withdrew its nomination of these individuals and has withdrawn its slate in its entirety.  Cannon, Sparks, Southam and Peterson now support Nikola’s current Board of Directors and their direction for the Company.  Furthermore, EMBR is not engaged in any business with Milton or M&M Residual.

A spokesperson for Nikola commented: “We appreciate the chance to work with the four former candidates and get their input.  We always value creative ideas and are happy to speak to shareholders who care about the Company and its future. We wish EMBR and their owners the best, especially with respect to our shared goals of an electrified vehicle future.”

PHOENIX – April 4, 2024 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced it will report its first quarter ended March 31, 2024 financial results and business updates on Tuesday, May 7, 2024. On that day, Nikola’s management will hold a conference call and webcast at 10:30 a.m. ET (7:30 a.m. PT) to review and discuss the company’s business and outlook.

To augment Nikola’s engagement with its shareholders and strengthen communication with investors, Nikola will utilize a Q&A platform developed by Say Technologies to allow verified retail and institutional investors to submit and upvote questions. Management will address a selection of the questions relating to Nikola’s business and financial results on the earnings call.  

The platform will open on April 29, 2024, at 10 a.m. ET (7 a.m. PT) and close on May 6, 2024, at 10 a.m. ET (7 a.m. PT). To submit questions, please visit https://app.saytechnologies.com/nikola-corporation-2024-q1.

What: Date of Nikola Q1 2024 Financial Results and Q&A Webcast 
When: Tuesday, May 7, 2024
Time: 10:30 a.m. ET (7:30 a.m. PT) 
Webcast: https://www.webcast-eqs.com/nikola20240507/en. An archived webcast of the conference call will be accessible from the Investor Relations section of the company’s website https://www.webcast-eqs.com/nikola20240507/en.  

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 Twitter @nikolamotor.

INVESTOR RELATIONS 
[email protected] 
 
MEDIA RELATIONS 

[email protected]