PHOENIX – April 4, 2024 – It was a productive Q1 for Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, as the company produced 43 and wholesaled 40 Class 8 Nikola hydrogen fuel cell electric vehicles. In addition, the Nikola team has commenced the return process for the BEV “2.0” trucks to customers.

“We are on track for a successful 2024 by continuing the momentum set in 2023,” said Nikola CEO Steve Girsky. “It’s about more than just setting goals. It’s about following through on our commitments. This includes not only the production and sale of our hydrogen fuel cell electric trucks but also the start of returns for our battery-electric trucks to customers.”

All trucks wholesaled to Nikola dealers are destined for end customers. The three remaining hydrogen fuel cell electric trucks in finished goods inventory at the end of the quarter have already been allocated and will be delivered in early April.

“We anticipate further sales growth in future quarters as our HYLA hydrogen fueling solutions come online. This includes our recently celebrated first modular refueling station in Ontario, Calif., as well as our first Canadian refueling station in Edmonton, Alberta,” continued Girsky. “It’s rewarding for our team to see us out on the field, leading the effort for the decarbonization of the industry.”

The Nikola hydrogen fuel cell and battery-electric vehicles are assembled in Coolidge, Ariz.  

NOTE: Nikola has not completed its quarterly review process or the preparation of its financial statements for the first quarter ended March 31, 2024. Nikola will announce information regarding Q1 2024 financial results soon.

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 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 belief that the Company is on track for a successful 2024; the Company’s plans to follow through on its commitments, including the production and sale of hydrogen fuel cell electric trucks and the start of returns for battery-electric trucks to customers; expectations relating to trucks that are wholesaled and remaining hydrogen fuel cell electric trucks, including expected timing of deliveries thereof; and expectations relating to sales growth. 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 first quarter results; changes to assumptions underlying vehicle sales and deliveries; 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; 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, as amended, 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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March 27, 2024 [EDMONTON METROPOLITAN REGION]—Today marks a significant milestone in the 5,000 Hydrogen Vehicle Challenge as Blackjacks Roadhouse unveils Alberta’s first commercial hydrogen fueling station. This project is the beginning of an expanded hydrogen fueling network across Western Canada, which solves the hydrogen economy’s “chicken or the egg” dilemma—enabling fueling infrastructure to keep pace with demand. 

Supported by PrairiesCan and made possible by joint collaboration from key stakeholders including the Alberta Motor Transport Association, Nikola Motor Canada Inc., a subsidiary of Nikola Corporation, Suncor, Leduc County, Emissions Reduction Alberta, and Blackjacks Roadhouse, this project is a demonstration of the collective efforts from across the Edmonton region and beyond, to accelerate the hydrogen economy. The Edmonton region is moving aggressively to take advantage of the hydrogen opportunity for Canada.

The HYLA fueling station, representing Nikola Corporation’s energy brand, will be situated along Highway 2 in Leduc County, Alberta. Highway 2 is a vital transportation corridor linking Alberta’s two largest urban centres— the Edmonton region and Calgary. This station will play a key role in decarbonizing one of Western Canada’s busiest highways, with approximately 96,000 vehicles passing by Blackjacks Roadhouse daily. Moreover, it will help meet the fueling needs of the Nikola hydrogen fuel cell electric vehicles destined for the Canadian market and ensure a seamless and reliable refueling experience for hydrogen-powered vehicles in the Edmonton region.  

The ultimate goal of the 5,000 Hydrogen Vehicle Challenge is to get 5,000 hydrogen-powered or dual-fuel-hydrogen vehicles on the roads in Western Canada by 2028. Investments into fueling infrastructure and supporting technology are a big part of reaching that goal and achieving the critical mass of vehicles needed to sustainably transition the commercial transportation sector to hydrogen.  

Clarence Shields, owner and operator of Blackjacks Roadhouse, is making substantial investments in the project, underscoring his belief that hydrogen is Alberta’s future, and demonstrating the impact private industry can have on accelerating the hydrogen economy.  

The HYLA modular fueler uses a 700-bar pressure-fill system—allowing hydrogen fuel supplied by Suncor to be compressed into smaller volumes, and dispensed into onboard storage for long-range vehicles like trucks, busses, and cars. And as demand for hydrogen grows, the goal is to replace the modular fueler with a permanent facility and relocate it to expand the HYLA fueling network across Alberta.  

As Alberta remains the leading producer of hydrogen in Canada, initiatives like these reinforce the role hydrogen will play in achieving Canada’s net-zero goals by 2050, particularly in difficult-to-decarbonize sectors, like heavy-duty trucking. 

The 5,000 Hydrogen Vehicle Challenge isn’t just for large organizations; it’s an opportunity for everyone to come together to de-risk the transition to hydrogen. 

QUOTES: 

“Enabling Alberta’s heavy vehicle sector to adopt hydrogen fuel and demonstrate the real-world capabilities of hydrogen-powered heavy vehicles is part of our government’s support of a low-carbon energy ecosystem that creates good-paying jobs for Albertans. The strong partnership among all levels of government and industry on today’s launch of Alberta’s first commercial hydrogen fueling station is at the heart of the new Framework to Build a Green Prairie Economy—our government’s long-term commitment to greater collaboration with Prairie stakeholders on their priorities for a cleaner and sustainable economy that leaves no one behind.”  

• The Honourable Dan Vandal, Minister for PrairiesCan 

“Today’s unveiling of Alberta’s first commercial hydrogen fueling station demonstrates Edmonton’s leadership in Canada’s drive towards a net-zero economy. This milestone is a testament both to the region’s strength and expertise in driving Canada’s hydrogen future, and also to our shared vision of supporting a healthy environment and thriving economy.” 

• The Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages 

“Hydrogen is an important part of our future energy needs and Alberta is a keen partner in developing the technology and regulations needed to move hydrogen forward. It’s very exciting to see Alberta’s first commercial hydrogen fueling station and I look forward to watching further development and expansion of hydrogen use in the years to come.” 

• Alberta Premier Danielle Smith 

“The launch of Alberta’s first commercial hydrogen fueling station is a huge milestone in advancing Alberta as a global energy supplier. Hydrogen is the next step in our commitment to reducing emissions, and projects like this demonstrate that we have the resources, expertise and interest in our province to drive innovation and become leading suppliers of responsibly produced clean hydrogen. This fueling station will kickstart the build-out of hydrogen fueling infrastructure in Alberta and support the development of a hydrogen economy in this region.” 

• Brian Jean, Minister of Energy and Minerals 

“On behalf of Leduc County, we congratulate Blackjacks Roadhouse on the opening of the province’s first commercial hydrogen fueling station. The Nisku Business Park is a hub of innovation; this hydrogen fueling station not only highlights the economic diversification we are experiencing in the County, but provides a viable strategy for many of our transportation, logistics and distribution businesses to diversify as well.” 

• Tanni Doblanko, Mayor of Leduc County 

“As Shareholder Chair of Edmonton Global, I am excited to support the launch of the first commercial hydrogen fueling station. This project is a big step towards a greener future and shows the region’s commitment to innovative and sustainable energy solutions. Congratulations to everyone involved in making this happen. We’re not just building infrastructure but leading the way in environmental responsibility and inspiring others to join us in creating a sustainable future for our region and beyond.” 

• Simon Boersma, Mayor of Morinville and Edmonton Global Shareholder Chair 

“The hydrogen opportunity for the Edmonton region is massive but we need to work together to capitalize on it—and that’s what we see happening here. Many partners were involved in making this project happen. The 5,000 Hydrogen Vehicle Challenge is accelerating the transition to hydrogen and helping to decarbonize the transportation sector across Western Canada. Congratulations to Blackjacks and all the partners that have helped bring this project to fruition. Canada’s path to net-zero runs through the Edmonton region.” 

• Malcolm Bruce, CEO, Edmonton Global 

“The Alberta Motor Transport Association (AMTA) congratulates Blackjacks on this accomplishment. AMTA is constantly working to support the advancement of Alberta’s zero-emission economy. The commercial transportation industry is integral to Alberta’s prosperity, and widespread investments into a cleaner future will continue our province’s economic development. Recent successful projects with partners PrairiesCan, Nikola, and Bison Transport have proven that zero-emissions vehicles (ZEV) are more than viable for operations in Alberta, and we are looking forward to the future.” 

• Doug Paisley, Board Chair, AMTA 

“This is a ground-breaking step towards a hydrogen-powered future and is a testament to the collaborative spirit driving sustainable innovation in Alberta. As Nikola Corporation joins hands with such visionary partners, we celebrate the launch of the first commercial hydrogen refueling station on Alberta’s bustling Highway 2. This initiative will look to propel Western Canada towards a cleaner, hydrogen-driven transportation sector. Together, we are fueling the momentum for a more resilient and sustainable tomorrow.” 

• Ole Hoefelmann, President of Energy, Nikola Corporation 

“Today is a great day for Alberta. We’ve taken an important step forward as energy leaders. Innovation is a key to further advancing Alberta’s hydrogen ambitions. That’s why Alberta Innovates provides full hydrogen value chain support from funding to opening Canada’s first hydrogen purity lab to public awareness building. Harnessing the entrepreneurship of our business community ensures that we remain at the front of the hydrogen economy.” 

•  Laura Kilcrease, CEO, Alberta Innovates 

About the 5,000 Hydrogen Vehicle Challenge:
We’re designing Canada’s roadmap to a net-zero future—starting in the Edmonton region. The ultimate goal of the 5,000 Hydrogen Vehicle Challenge is to get 5,000 hydrogen or dual-fuel hydrogen vehicles on Western Canada’s roads within five years. This Edmonton Region Hydrogen HUB initiative is bringing together industry leaders and champions from across the entire hydrogen value chain to decarbonize the commercial transportation sector with hydrogen technology. And when we prove it works here, the same model can be used nationwide.  

Visit 5000hydrogen.ca to stay up to date and learn how you can participate in the Challenge.  

ABOUT EDMONTON GLOBAL
The purpose of Edmonton Global is to radically transform and grow the economy of the Edmonton Metropolitan Region. We are a not-for-profit corporation founded by 14 municipalities that make up the Edmonton Metropolitan Region. Our focus is attracting foreign investment, helping regional businesses export with the world, enhancing our region’s global competitiveness, and bringing our region together with a unified voice to attract the attention and interest of investors the world over. 

ABOUT ALBERTA MOTOR TRANSPORT ASSOCIATION
The Alberta Motor Transport Association is a not-for-profit, advocacy and safety training association that functions as The Voice, The Standard and The Resource for commercial transportation in Alberta. For more than 86 years, our work has encompassed a broad range of environmental, social, economic, safety and compliance matters that impact provincial highways. Safety, research, and innovation are at the heart of our projects, enabling AMTA to bring key stakeholders together to lead research and develop new technologies that will significantly enhance the industry while reducing human and environmental impacts.

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, Arizona with a manufacturing facility in Coolidge, Arizona. 

ABOUT ALBERTA INNOVATES
Alberta Innovates manages nearly 1,300 projects in a portfolio valued at $1.33 billion. We work with innovators in all sectors of the economy and all corners of the province to drive entrepreneurship, applied research and industry development. With our impact-based funding programs and services, we are transforming energy systems for a net-zero world, promoting the responsible use of land and water, leveraging provincial strengths in agriculture, and contributing to improved health and well-being by harnessing digital tech and data. We are also advancing emerging technologies and strengthening entrepreneurship for a strong and diversified economy. We operate in 11 locations with more than one million sq. ft. of industrial testing and lab facilities, and 600 acres of farmland. We employ nearly 600 highly skilled scientists, business and technical professionals. From funding to commercialization, we are Alberta’s innovation engine! See what entrepreneurs say about our coaching and support. 

ABOUT PRAIRIESCAN
PrairiesCan is the federal department that supports economic growth in Alberta, Saskatchewan, and Manitoba. Its programs and services help businesses, not-for-profits and communities grow stronger. Its mandate is to support economic growth and diversification in the Prairie provinces and advance the interests of the region in national economic policy, programs and projects. Learn more at www.prairiescan.gc.ca.  

ABOUT BLACKJACKS ROADHOUSE
Blackjacks Roadhouse is a premier rest stop for truckers, offering a wide range of amenities and services tailored to the needs of the trucking community. Since opening its doors in December 2009, Blackjacks Roadhouse has established itself as a trusted destination for travelers seeking comfort and convenience during their journeys. With a commitment to continuous improvement, Blackjacks Roadhouse provides a welcoming environment complete with showers, laundry services, parking lot security, patios, a weigh scale, and a top-notch games room with 33 VLTs, a full bar, and a mezzanine area. Delighting patrons with delicious cuisine, Blackjacks Roadhouse strives to exceed expectations and provide a home away from home for truckers on the road. 

PHOENIX – March 21, 2024 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, celebrated the grand opening of its inaugural HYLA high-pressure modular refueling station and facility in Southern Calif. The celebration welcomed fleet customers, dealers from Nikola’s sales and service network, government officials, industry press and members of the Nikola leadership and engineering teams, each playing an integral role in the realization of this achievement.

Highlights of the event included remarks from Nikola executives, as well as Joe Biagi, Biagi Bros. Fleet Director, and representatives from both the City of Ontario and the office of Congresswoman Norma Torres, who presented Certificates of Recognition. Additionally, participants had the opportunity to take part in truck and hydrogen refueling demonstrations, facility and equipment tours and technology Q&A sessions with Nikola engineers focusing on hydrogen safety and the HYLA ecosystem. Attendees also had the opportunity to take rides in the Nikola hydrogen fuel cell electric trucks, further showcasing Nikola’s advanced technology that is available and driving on the roads today.  

The Ontario station, which opened for operation last month, will be capable of fueling up to 40 Nikola hydrogen fuel cell electric Class 8 trucks daily. This station is integral to Nikola’s strategic initiative to develop up to nine refueling solutions set to be completed by mid-2024, with 14 total refueling solutions to be operational by the end of the year.

Nikola will provide 24/7 support with on-site HYLA Ambassadors and Operation Technicians, ensuring a seamless and efficient fueling experience for its customers.

“We are proud to commemorate this historic day as we celebrate the inauguration of the first HYLA hydrogen refueling station in Southern California. We extend our sincere gratitude to the City of Ontario for their invaluable support and collaboration in bringing this vision to life,” said President of Energy Ole Hoefelmann. “This moment marks the beginning of a transformative journey toward a more sustainable future for transportation. With several more stations planned this year, we are committed to driving positive change and leading the charge for zero-emission trucking solutions.”

Working alongside industry leaders, Nikola is securing a robust hydrogen supply chain and expanding its HYLA refueling infrastructure to support growing demand. The continued development of the refueling ecosystem is anticipated to accelerate the adoption of hydrogen fuel cell electric trucks and drive the decarbonization of transportation.

“I welcome the news of HYLA constructing their first semi-truck hydrogen refueling station right here in Ontario. Clean and innovative technologies like battery-electric and hydrogen fueled trucks will create jobs and help the Inland Empire thrive, all while fighting the climate crisis,” said Congresswoman Norma Torres. “We must continue to invest in clean energy solutions like this to future-proof our communities and I look forward to seeing this project, and many others, come to fruition.”

The HYLA refueling solutions network is expected to offer Nikola hydrogen fuel cell electric vehicles and other Class 8 customers a variety of flexible refueling options, including modular and permanent HYLA stations, customer-owned facilities, and partnerships with public truck stops. This network includes the recent 10-year agreement with FirstElement Fuel for a hydrogen refueling station in Oakland, Calif.

EVENT MEDIA ASSETS

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.

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 station or the planned HYLA fueling stations and related hydrogen infrastructure;  about the station beginning a transformative journey toward a more sustainable future for transportation; 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; 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; 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-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
[email protected]

PHOENIX – March 7, 2024 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, proudly marked a significant milestone as IMC, the largest marine drayage company in the U.S., unveiled the inaugural livery that will adorn its fleet of 50 Nikola hydrogen fuel cell electric trucks. This milestone follows a strategic deal that has been in progress since early 2023 and was formally commemorated during the grand opening of IMC’s state-of-the-art sustainable Compton facility.

“Nikola is proud to be at the forefront of sustainable transportation alongside IMC,” said Nikola President and CEO Steve Girsky. “Their vision to transition their fleet to zero-emissions is a testament to their leadership in the drayage sector and sets a high standard for the industry. We’re honored to be aligned with them as we all work to decarbonize the industry.”

In a forward-thinking move, IMC initiated the purchase of 50 Nikola hydrogen fuel cell electric trucks through Tom’s Truck Centers, a valued member of the Nikola sales and service dealer network. This strategic deal has already brought IMC the initial batch of 10 trucks in Q423, with an additional 10 scheduled for this month. The remaining 30 are expected to be delivered by the end of 2024, solidifying IMC’s commitment to a more sustainable future.

“Our order for 50 Nikola hydrogen fuel cell electric trucks signifies our commitment to innovation and sustainability in drayage operations,” said IMC CEO Joel Henry. “We’re confident that these technology-advanced trucks will not only meet but exceed our expectations for enhanced efficiency and operational excellence.”

As a key player in hauling containers from ports to warehouses, IMC is responding to the growing demand for sustainable transportation. The deployment of these hydrogen-powered trucks will be utilized in IMC’s operations primarily in Calif., as well as in Ariz. and Nev.

In compliance with pending California regulations mandating that all new drayage trucks registered must be zero-emission vehicles in an effort to phase out fossil-fuel trucks from ports by 2035, Nikola’s hydrogen fuel cell electric vehicles offer an immediate and viable solution. Assisted by Nikola’s Southern California dealer, Tom’s Truck Centers, IMC secured significant incentives through CARB’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (“HVIP”) program and Port of Los Angeles’ Clean Truck Fund Rate.

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, 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.

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 beliefs regarding the benefits of this deal with IMC; whether the Company and IMC are at the forefront of sustainable transportation; beliefs about IMC’s position as a leader in the drayage industry and whether its purchase of FCEV trucks sets a high standard; whether the FCEV truck will meet or exceed expectations for enhanced efficiency and operational excellence; and Nikola’s position at the forefront of a transformative industry. These forward-looking statements 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: risks related to the rollout of the Company’s business and milestones and the timing of expected business milestones; 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 for the year ended December 31, 2023 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 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 to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

NIKOLA MEDIA CONTACT
[email protected]

PHOENIX – March 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 the appointment of an accomplished and highly regarded financial executive, Thomas “Tom” B. Okray, who has joined the company’s executive team as Chief Financial Officer (CFO).

“We are proud to welcome Tom as our CFO. Attracting someone of his caliber is a testament to the exciting journey Nikola is on,” said President and CEO, Stephen Girsky. “Tom’s depth of financial expertise, cultivated over four decades, will play a crucial role as we expand our supply base and profitably scale our business. Tom will not only complete our executive team, but also help to solidify our foundation for success as we continue to reshape the trucking industry and drive decarbonization forward.”

This marks Okray’s fourth tenure as CFO of a public company. Previously Okray served as Executive Vice President (EVP) and CFO at Eaton Corporation, an intelligent power management company that provides solutions across the propulsion spectrum, Senior Vice President (SVP) and CFO at Grainger, and EVP and CFO at Advance Auto Parts. Okray also held various executive and CFO roles at General Motors over a 14 plus year period, including extensive time in product development. His expansive career has taken him around the world, with stints in Germany, Italy, Poland, and Korea, and considerable time spent in China, India, and Brazil.

“I have traveled the globe over the past 40 years and worked with cutting-edge technologies across various vehicles. Scaling the zero-emissions technology at Nikola is something I want to be a part of,” said Okray. “My connection with some of Nikola’s leadership spanning decades made the decision even more natural. I believe in Nikola’s mission and what they are working to do in the trucking and energy sectors and am excited to join the company and contribute in any way possible.”

ABOUT THOMAS B. OKRAY

Thomas “Tom” B. Okray serves as Chief Financial Officer (CFO) of Nikola Corporation.

Okray joined Nikola from Eaton, where he held the position of EVP and CFO. He also served as SVP and CFO of Grainger and as EVP and CFO of Advance Auto Parts. Prior to that role, he held Vice President positions at Amazon.

At General Motors, Okray started as a Senior Analyst and eventually rose to the position of CFO of Global Product Development, Purchasing and Supply Chain. In this capacity, he provided financial leadership for research and development, engineering operations, procurement, supply chain, capital, future portfolio strategy, future vehicle and powertrain projects, and third-party alliances. Okray also served as CFO of Global Product Development, Executive Director of Product Development in Asia and Europe, and Vice President of the Fiat-GM Powertrain joint venture, among other positions at Opel.

Okray serves on the board of directors of Flowserve Corporation (NYSE:FLS), The Cleveland Orchestra, and The City Mission.

Okray is a graduate of Michigan State University, with a bachelor’s degree in chemical engineering. He earned a Master of Business Administration (MBA) with concentrations in finance, statistics, production and operations, and business policy from the University of Chicago.

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, 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 @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 beliefs regarding the potential benefits of Mr. Okray joining the Company’s executive management team; Mr. Okray’s ability to help expand the Company’s supply base and profitably scale our business; Mr. Okray’s role in solidifying the Company’s foundation for success as it works to reshape the trucking industry and drive decarbonization forward; and Nikola’s position at the forefront of a transformative industry. These forward-looking statements 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: risks related to the rollout of the Company’s business and milestones and the timing of expected business milestones; 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 for the year ended December 31, 2023 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 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 to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

NIKOLA MEDIA CONTACT
[email protected]

• Delivered the first production hydrogen fuel cell electric truck available in North America
  • Delivered 35 hydrogen fuel cell electric trucks in Q4 ending the period with no finished goods inventory
  • From October 2023 through January 31, 2024, 225 additional voucher requests have been submitted in Calif. for hydrogen fuel cell electric trucks, all for Nikola
• Remain on track to get the first battery-electric trucks back into end user hands by the end of Q1
• Opened first HYLA modular refueling station in Ontario, Calif. and announced partnership with FirstElement Fuel in Oakland, Calif. providing fleets with fueling solutions in Northern and Southern Calif.
• During Q4 raised $230.3M, ending the year with $464.7M of unrestricted cash, highest unrestricted cash balance since Q4 2021
• Added two additional reputable and seasoned board members with deep experience in trucking and energy
  • Jonathan Pertchik, former CEO of TravelCenters of America
  • Carla Tully, whose experience includes leading and scaling energy organizations across Fortune 150, private equity, and startups (appointed in February 2024)

PHOENIX – February 22, 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 fourth quarter and full year ended December 31, 2023.

“Today we’re sharing what we’ve accomplished and how we are providing fully integrated zero-emissions mobility solutions to fleets right now,” said Nikola President and CEO Steve Girsky. “We began delivering production hydrogen fuel cell electric trucks in Q4, fleets are fueling daily at our modular refueling station in Ontario, California, we continue to rack up HVIP vouchers, and we are on track to start getting our battery-electric trucks back to end users by the end of the first quarter.”

“In California, we have 99% of all the hydrogen fuel cell electric tractor HVIP vouchers requested in 2023 through January 2024,” Girsky continued. “There are more requests for our fuel cell truck alone than all other truck OEMs combined on both battery and hydrogen fuel cell electric trucks in the same period. It’s a testament to our market leading position, quality of our products, and the high level of Nikola fleet success. We are making the most of our head start and capitalizing on our first-mover advantage.”

Launch of the Hydrogen Fuel Cell Electric Truck and Hydrogen Refueling Ecosystem
In Q4 2023, we demonstrated our ability to produce, manufacture, and deliver the hydrogen fuel cell electric truck. We believe we have delivered the first production Class 8 hydrogen fuel cell truck available in North America. Fleets are operating the trucks daily, fueling at our first modular refueling site in Ontario, Calif. and our partner FirstElement Fuel’s station in Oakland, Calif.

Looking forward to 2024, we are focused on optimizing revenue and costs in our business, as we seek to scale hydrogen fuel cell electric truck production, secure additional modular refueling sites and deploy modular fuelers to support fleets and bring the battery-electric product back to the marketplace.

Hydrogen Fuel Cell Electric Truck
In Q4 2023, we delivered what we believe is the first production hydrogen fuel cell electric truck available in North America. We produced 42, delivering 35 of those to dealers and reserved seven for continued testing and fleet demos. Every truck delivered to dealers is spoken for by an end user, some of which are already utilizing the trucks in operations daily. End users include:

• Long standing partner Biagi Bros.
• IMC Logistics, the largest marine drayage company in the U.S.
• 4 Gen / Duncan and Sons Lines
• Alberta Motor Transport Association
• Coyote Container

In Calif. 99% (355 of 360) of the hydrogen fuel cell electric HVIP vouchers requested in 2023 through January 2024 are for our hydrogen fuel cell electric truck. We continue to build a strong sales funnel as our sales team works in conjunction with dealers. Initial fleet feedback on truck performance has been positive. Coyote Container completed an 866-mile round trip haul between The Port of Oakland, Port of Long Beach, HYLA Ontario refueling station, and returned to Oakland, stopping for only one refuel.

Battery-Electric Truck
We remain on track to deliver the first re-worked battery-electric trucks with new battery packs back to end users by the end of Q1 and believe all trucks will be returned to end user fleets by the end of Q2 or early Q3. Once end user trucks have been returned, we plan to begin retrofitting the remaining battery-electric trucks in Nikola inventory and selling them for revenue in late Q3 or early Q4.

Since October 2023, there have been 33 additional HVIP voucher requests for the battery-electric truck in Calif. In addition to new battery packs from an alternative supplier, what we call the BEV “2.0” is expected to have a number of additional enhancements, some available upon release and some to be implemented over time, which further improve the trucks capabilities. Some of the improvements include an updated instrument display, a more user-friendly mobile app, and scheduled departure charging to ensure maximum state of charge when a driver begins their route. In addition to the new packs and features, we also expect the trucks will be lighter, improving payload capacity.

Energy
We recently announced the opening of our first HYLA modular refueling station in Ontario, Calif., as well as our collaboration with FirstElement Fuel for fleets to use their refueling station in Oakland, Calif. Fleets are utilizing both fueling locations and hauling freight between Southern and Northern Calif.

Our HYLA team is working to secure additional fueling sites throughout Calif., and believes we have line of sight to secure an additional six in Southern Calif. and three in Northern Calif. in 2024. The HYLA station development strategy is to deploy modular fueling assets as truck network density is amassed in the region. Once truck density is amassed, fixed stations can be constructed and placed into service. Upon the completion of fixed station infrastructure, modular fuelers can be redeployed to a new geography and the cycle can be replicated. We believe the modular refueling strategy allows us to be nimble and rapidly enter new markets, while remaining capital efficient.

Fourth Quarter and Full Year Financial Highlights

Webcast and Conference Call Information
Nikola will host a webcast to discuss its fourth quarter and full year 2023 results and business progress at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time) on February 22, 2024. To access the webcast, parties in the United States should follow this link: https://www.webcast-eqs.com/nikola20240222/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.

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 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; expected orders and customer demand for trucks; the Company’s beliefs regarding competition and that it has competitive and first-mover advantage; the Company’s business outlook; the Company’s expectations regarding hydrogen supply and plans to secure adequate hydrogen supply; expected benefits of the modular refueling strategy; expectations related to the battery-electric truck recall, including the nature of the repairs, the Company’s expectations regarding the trucks, and timing of battery replacement and truck deliveries and sales; the Company’s sales efforts; and government incentives and expectations regarding customer demand related to such incentives. These forward-looking statements 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 global shortages in 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; the completion of the 2023 audit and any related adjustments to financial results; and the factors, risks and uncertainties regarding the Company’s business described in the “Risk Factors” section of the Company’s quarterly report on Form 10-Q for the quarter ended September 30, 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 – February 16, 2024 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced the appointment of energy and infrastructure expert Carla Tully, to its Board of Directors. Over more than two decades, Tully has built a successful track record leading and scaling energy organizations across Fortune 150, private equity, startup, and government entities. Tully serves as the Vice Chair of Earthrise Energy’s Board of Directors, a Board Director for Citizens for Responsible Energy Solutions Forum and as an Advisor to several energy transition startups.

“As Nikola scales its energy infrastructure business, especially in the hydrogen ecosystem, the addition of Carla to Nikola’s Board of Directors will greatly benefit our company, employees and shareholders,” said Steve Shindler, Chairman of Nikola’s Board of Directors. “Carla’s diverse business expertise, spanning from launching startups to overseeing sizeable organizations, navigating a spectrum of energy industry challenges to mastering capital structure and M&A, and excelling in business development, CSR and sustainability, uniquely positions her to support the Board as the company grows in 2024.”

“I am a firm believer that now is the time to focus our creativity and capital on decarbonizing hard-to-abate sectors,” said Tully. “Nikola is a mission-oriented company that is at the forefront of zero-emission transportation. I’ve dedicated my career to similar missions, and I am delighted to join Nikola’s Board of Directors and support Nikola in 2024 and beyond.”

As Co-Founder and CEO at Earthrise Energy, PBC, Tully achieved remarkable growth leading the energy transition company from concept to a 1.7 GW operating business with a 2.0 GW renewable energy development pipeline. She raised venture capital, private equity, and debt, fueling strategic acquisitions, and built an organization designed to execute Earthrise’s unique business model.

Before founding Earthrise, Tully served as Executive Vice President and Managing Director of Renewable Energy at MAP Energy, a $2.4B energy investment firm, where she scaled MAP’s renewable energy development business and raised its first all-renewable energy fund. At The AES Corporation, a global power leader, Tully held key leadership roles, including President of AES UK and Ireland, Vice President of Corporate Strategy & Investment, and Chief of Staff for Global Utilities, where she shaped and executed growth strategies for AES’s 40 GW businesses worldwide.

Tully received the 2022 Silver Stevie Award for Best Female Entrepreneur and the 2016 UK Institute of Directors’ Award – Director of the Year for Corporate Responsibility. She holds an MBA from Columbia Business School, a Master of Arts in Law and Diplomacy from the Fletcher School at Tufts University, and a Bachelor’s degree in international relations and economics from the University of Southern California.

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, 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.

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 beliefs regarding the potential benefits of Ms. Tully  joining the Company’s Board of Directors; Ms. Tully‘s experience in the energy industry and finance and her insights, acumen and industry relationships as assets that may help the Company in achieving its goals; and the Company’s ability to pave the way for a more sustainable and efficient future in the transportation industry. These forward-looking statements 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 the factors, risks and uncertainties regarding the Company’s business described in the “Risk Factors” section of the Company’s quarterly report on Form 10-Q for the quarter ended September 30, 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 to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

NIKOLA MEDIA CONTACT
[email protected]

PHOENIX – February 9, 2024 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, said today that its Board of Directors has rejected a slate of five dissident nominees proposed by an entity controlled by former Executive Chairman Trevor Milton for election as directors at Nikola’s 2024 Annual Meeting of Stockholders.

On January 26, 2024, Nikola received a notice from M&M Residual, LLC, Mr. Milton’s entity, declaring its intent to nominate a slate of five directors for its eight-member board: Cole Cannon, Derek Johnson, Hans Peterson, Paul Southam and Dave Sparks.

The Board of Directors reviewed the director nominees and rejected the slate and does not endorse their nomination. The director nominees have no public company experience, add no skills or experience to the board, and indisputably lack the depth of experience that the current Nikola board members bring to the Company. Additionally, it is the Company’s belief that the director nominees lack the expertise or knowledge needed to navigate the complexities of a zero-emissions trucking and energy infrastructure business.

Mr. Milton was criminally convicted of one count of securities fraud and two counts of wire fraud as it relates to the Company, and on December 18, 2023, was sentenced to 48 months in prison, followed by supervised release for three years. On October 20, 2023, Mr. Milton was found liable in an arbitration with the Company, resulting in an award to the Company of $165 million plus interest, which includes a $125 million settlement with the Securities and Exchange Commission from December 2021. This judgment remains unpaid, and Nikola is vigorously seeking all legal avenues to recover monies owed to the Company by Mr. Milton.

Mr. Milton is separated from the Company entirely and has had zero involvement in Nikola’s day-to-day operations since September of 2020; however, Nikola continues to suffer harm created by Mr. Milton’s business decisions from over three years ago in his role as Founder and Executive Chairman.

Nikola’s current Board of Directors comprises a diverse group of reputable, leading experts in their respective fields – from trucking to startups to technology to energy, as well as customer service – all integral aspects of Company business. Each member holds specific and relevant industry experience that has driven forward strategic initiatives to help support Nikola’s long-term financial strength. This in turn delivers on our commitment to create long-term value for our stockholders.

In short, the hydrogen ecosystem is a series of complex systems that require complex answers. Nikola’s board of directors has the expertise and experience necessary for the Company’s success, and our team stands firmly behind them. 

These experts include:

• Nikola President and CEO, Steve Girsky, who is a former vice-chairman of GM and Managing Director at Morgan Stanley and has 30-plus years of business experience;
• Steve Shindler, a former CEO and CFO in the Nextel organization, also with more than 30 years of success in his field;
• Mary Petrovich, Senior Operating Executive for The Carlyle Group and former Chairman and CEO of two highly successful Carlyle portfolio companies in industrial and transportation sectors, with more than three decades of experience;
• Andrew Vesey, President and CEO, North America, Fortescue Future Industries, with more than 40 years of energy business experience;
• Bruce Smith, Chairman and CEO of Detroit Manufacturing Systems, a tier 1 automotive supplier, with 30 years of deep automotive and supplier leadership positions and relationships;
• Michael Mansuetti, president, North America, Robert Bosch LLC, with decades of experience in the technology and supplier sectors;
• John Vesco, with more than three decades of executive leadership for prominent transportation and supply chain organizations, including Hub Group and Schneider; and
• Jonathan Pertchick, former CEO and Managing Director of TravelCenters of America (TA), with decades of successful company transformation on his resume. 

Nikola’s Board of Directors strongly opposes the nominations made by Mr. Milton and will disclose its director nominees when its proxy statement is filed with the Securities and Exchange Commission (the “SEC”). Nikola stockholders are not required to take any action at this time.

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, Arizona with a manufacturing facility in Coolidge, Arizona. 

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 beliefs regarding the director nominees proposed by Trevor Milton; the expertise or knowledge needed to navigate the complexities of a zero-emissions trucking and energy infrastructure business; and the expertise and experience of the Company’s current board of directors, including potential benefits to the Company and long-term value for stockholders. 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; 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 quarterly report on Form 10-Q for the quarter ended September 30, 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.

ADDITIONAL INFORMATION AND WHERE TO FIND IT
Nikola intends to file with the SEC a proxy statement on Schedule 14A, containing a form of WHITE proxy card, with respect to its solicitation of proxies for Nikola’s 2024 Annual Meeting of Stockholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY NIKOLA AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Investors and security holders may obtain copies of these documents and other documents filed with the SEC by Nikola free of charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by Nikola are also available free of charge in the investor relations section of Nikola’s website at nikolamotor.com.

PARTICIPANTS
Nikola, its directors and executive officers and other members of management and employees will be participants in the solicitation of proxies with respect to a solicitation by Nikola. Information about Nikola’s executive officers and directors is available in Nikola’s definitive proxy statement for its 2023 Annual Meeting, which was filed with the SEC on April 25, 2023, and its Current Reports on Form 8-K filed with the SEC on April 28, 2023, August 4, 2023, August 18, 2023, September 1, 2023, September 19, 2023, September 21, 2023, November 17, 2023, December 15, 2023 and February 2, 2024. To the extent holdings by the directors and executive officers of Nikola securities reported in the proxy statement for Nikola’s 2023 Annual Meeting have changed, such changes have been or will be reflected in Forms 3, 4 or 5 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at www.sec.gov and in the investor relations section of Nikola’s website at nikolamotor.com.

MEDIA INQUIRIES
[email protected]

PHOENIX – February 7, 2024 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, is breaking new ground as the first commercial vehicle in North America to integrate what3words, a precise location technology that aims to provide confidence in Nikola customers in the accuracy of their addresses, ensuring timely deliveries and an exceptional customer experience.

Navigating large sites and industrial parks can often be a daunting task for drivers due to multiple entrances and vague delivery zones lacking specific addresses, resulting in delayed deliveries. what3words offers a revolutionary solution, providing an easy way to identify precise locations.  The system has divided the globe into a grid of 10ft squares and assigned each a unique combination of three words: known as a what3words address. This means every warehouse entrance, drop off point and tucked-away delivery door has its own unique what3words address. This integration is expected to enhance the driver experience by providing a concise and accurate method for location input and will also seek to simplify location entry via voice or text, offering a forward-looking advantage.

This advanced technology will be incorporated into Nikola’s Class 8 zero-emission trucks in 2024, setting a new standard for precision and performance in the industry and further demonstrating Nikola’s ability to integrate progressive features and improvements over-the-air.

“In the commercial vehicle landscape, precision is paramount to avoid delays and disruptions,” says Mary Chan, Nikola Chief Operating Officer. “This strategic partnership underscores our commitment to innovation by elevating the standard for commercial vehicle navigation and speaks to our dedication to customer-centric solutions. The added benefit of simplifying location entry, whether through voice or text, further solidifies our commitment to providing a seamless and efficient experience for our drivers.”

“what3words has been shown to significantly improve both delivery accuracy and customer experience – benefitting drivers and customers alike,” comments Chris Sheldrick, Co-Founder and CEO of what3words. “This integration is illustrative of Nikola’s commitment to enabling exceptional delivery experiences across the U.S., and we look forward to seeing our technology live in their vehicles soon.”

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.

ABOUT WHAT3WORDS
Co-founded in London in 2013 by Chris Sheldrick, what3words is a simple way to talk about precise locations. A what3words address is a human-friendly way to share very precise locations with other people, or to input them into platforms and machines such as ride-hailing apps or ecommerce checkouts. It is optimized for voice input and contains built-in error prevention to immediately identify and correct input mistakes.

The free what3words app, available for iOS and Android, and the online map, enables people to find, share and navigate to what3words addresses in more than 50 languages to date. Millions of what3words addresses are in use around the world, with thousands of businesses using them to save money, be more efficient and provide a better customer experience. what3words is easily integrated into apps, platforms and websites. Products are available for free or for a nominal fee for qualifying NGOs. Its partners include Nikola, Mercedes-Benz, Jaguar Land Rover, Evri, Subaru, Lamborghini, DPD, DHL, the AA and many emergency services across the world.

what3words has a team of over 150 people, across offices in the UK, U.S. Germany, India, South Korea, Vietnam and Mongolia.

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 for Nikola customers related to the what3words technology; the Company’s belief that it is the first commercial vehicle in North America to incorporate what3words;  the Company’s ability to incorporate this location solution technology in its vehicles in 2024; the Company’s belief that by incorporating this technology in its trucks it will help drivers have precision deliveries thereby avoiding delays and disruptions; 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; 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; 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 September 30, 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]

WHAT3WORDS MEDIA CONTACT
[email protected]

PHOENIX – February 5, 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 first HYLA hydrogen refueling station in Southern Calif. Featuring an advanced modular fueler, the station at 2445 East Guasti Road in Ontario, Calif., represents the latest phase in Nikola’s commitment to providing hydrogen refueling solutions for Class 8 trucks. View images and video of the refueling station.

The Ontario station will be capable of fueling up to 40 Nikola hydrogen fuel cell electric Class 8 trucks daily. This station is part of a strategic plan to establish up to 60 hydrogen refueling solutions in the coming years, with nine planned to be in place by the close of Q2 2024.

Nikola will provide 24/7 support with on-site HYLA Ambassadors and Operation Technicians, ensuring a seamless and efficient fueling experience for its customers.

“We are thrilled to open the first HYLA hydrogen refueling station in Southern Calif., marking a significant milestone for Nikola and offering convenient access for our customers,” said President of Energy Ole Hoefelmann. “Easing the transition to a zero-emission trucking future and prioritizing access to a hydrogen solution network is our top objective and we’re just getting started. Once the nine planned solutions are in place by mid-2024, Nikola will have established one of the world’s largest heavy-duty hydrogen refueling networks, providing customers accessibility at their current locations and along their planned routes.”

Working alongside industry leaders, Nikola is securing a robust hydrogen supply chain and refueling infrastructure to support its growing customer base. The continued development of the refueling ecosystem is anticipated to further facilitate the adoption of hydrogen fuel cell electric trucks and contribute to the decarbonization of transportation.

The HYLA refueling solutions network will offer Nikola hydrogen fuel cell electric vehicles and other Class 8 customers flexible refueling options, including modular and permanent HYLA stations, customer-owned facilities, and partnerships with public truck stops. Part of this network includes the recently announced 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, covering supply, distribution and dispensing.

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

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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 Guasti station or the planned HYLA fueling stations and related hydrogen infrastructure;  transitioning to zero emission trucking; 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; 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; 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 September 30, 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.

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