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Nikola Corporation Appoints Joseph S. Cappello as President of Energy

Experienced energy executive joins Nikola leadership team

PHOENIX – September 21, 2023 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via its HYLA brand, is proud to announce the appointment of Joseph S. Cappello as President of Nikola Energy, effective September 25, 2023.

As President of Nikola Energy, Cappello will oversee all aspects of the company’s energy business to support Nikola’s customer base, including infrastructure, supply strategy, trading, technology, and development, as well as leading and expanding the company’s HYLA brand operations. His arrival coincides with the upcoming commercial launch of the Class 8 Nikola hydrogen fuel cell electric vehicle.

Cappello joins Nikola following a successful five-year tenure at Iwatani Corporation of America (ICA), a U.S. subsidiary of Iwatani Corporation, a prominent Japanese conglomerate and leader in hydrogen production, LNG and LPG supply. In 2018, Cappello initially served as Executive Advisor before assuming the roles of Chairman and CEO of ICA in 2019.

“Having an accomplished energy executive of Joe’s caliber join Nikola as President of our Energy division underscores our company’s vision and potential, and sets us on a course to advance our hydrogen highway initiatives,” said Nikola President and CEO Steve Girsky. “Energy management and infrastructure are integral to Nikola’s business strategy, and Joe has direct experience setting up hydrogen stations, which is vital as our hydrogen fuel cell trucks hit the road in the coming weeks.”

“Nikola is at the forefront of transformative change in the global transportation sector, poised to significantly reduce diesel emissions from Class 8 trucks,” said Cappello. “I’m thrilled to be part of this organization and contribute to its mission of revolutionizing and decarbonizing trucking by providing an exceptional value proposition.”

ABOUT JOSEPH CAPPELLO
Joseph S. Cappello began his career as a Sell-side Chemical Analyst on Wall Street before joining Praxair, now Linde, where he held roles of increasing responsibility over a 15-year period.

His first corporate assignment at Praxair was leading investor relations, followed by operating roles managing the U.S. CO2 business, Global Helium business, and the Pipeline Services organization. He was then named VP, North America where he led the company’s Product Management Group, which included the largest merchant hydrogen portfolio in the U.S. Additionally, Joe piloted the business units responsible for the expansion of the company’s position throughout Asia Pacific as President of Praxair Asia, based in Shanghai.

Cappello then transitioned to the Private Equity sector, leading business units in two separate companies. His leadership played a significant role in the success of both organizations, including managing one of the largest off-road energy transportation and logistics businesses in the U.S.

In 2019, Cappello assumed the role of Chairman and CEO of Iwatani Corporation of America (ICA) and was subsequently named Senior Managing Officer of Iwatani Corporation. Under his guidance, ICA grew significantly through acquisitions, strategic partnerships, and transformative investments, resulting in the establishment of four new U.S. Business Platforms: Hydrogen, Specialty Gases, Helium, and Industrial Gases.

Cappello earned a Bachelor of Science in Business Administration from Montclair State University and a Master of Business Administration from New York University, Stern School of Business.

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 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 Mr. Cappello joining the Company’s executive management team; Mr. Cappello’s ability to underscore the Company’s vision and potential; Mr. Cappello’s qualifications to serve as President of Energy and ability to advance the Company’s hydrogen highway initiatives and build hydrogen stations; and the ability to drive trucking to a zero-emissions future, encompassing trucking products, customer solutions, and the corresponding energy infrastructure while providing an exceptional value proposition. 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 quarterly report on Form 10-Q for the quarter ended June 30, 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]

Nikola Corporation Appoints Mary Chan as Chief Operating Officer

Experienced global executive to spearhead operations

PHOENIX – September 18, 2023 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via its HYLA brand, today announced the appointment of Mary Chan as Chief Operating Officer (COO), effective October 9, 2023.

In her capacity as COO, Chan will lead the company’s engineering, program, product, supply chain, and manufacturing teams. Her appointment aligns with the vision of President and CEO Steve Girsky to streamline decision-making processes and bolster Nikola’s reputation for excellence in engineering and manufacturing.

“I have had the pleasure of collaborating with Mary for over a decade, and I cannot think of a more qualified individual to assume the role of COO at Nikola,” said Nikola President and CEO Steve Girsky. “Mary brings a solid understanding of business, combined with extensive experience in technology and transportation, spanning both engineering and management. Her expertise will be a tremendous asset to the Nikola team.”

“My career has been dedicated to pioneering smart transportation and wireless communications across automotive, telecommunications, and high-tech industries,” said Chan. “Joining Nikola represents the culmination of this journey, and I’m excited to be part of the team that will drive trucking to a zero-emissions future, encompassing trucking products, customer solutions, and the corresponding energy infrastructure.”

ABOUT MARY CHAN
Chan was a Managing Partner at VectoIQ, where she assisted with the public launch of Nikola Corporation. She served as President of the Global Connected Consumer group at General Motors (GM) and built the next generation of connected infotainment products and OnStar broadband data services. She led the industry’s first launch of 4G LTE connectivity across GM’s global brands in the U.S., China, Europe, and Mexico.

Chan joined GM from Dell Inc., where she was Senior Vice President and General Manager of Enterprise Mobility Solutions & Services. 

Prior to Dell, Mary held various EVP and SVP executive positions at Alcatel-Lucent and Lucent Technologies Inc. as President of 4G/LTE Wireless Networks and President of Global Wireless Networks.  She led the Wireless Business Unit with responsibilities across product management, R&D, and system deployment with a revenue stream greater than $7B.

Chan was previously named the “Top Woman in Wireless” by the Fierce Wireless Industry Daily.

Chan serves as an independent Board of Director for Magna International, SBA Communications, and CommScope.  She holds a Bachelor of Science and Master of Science degree in Electrical Engineering from Columbia University.

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 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. Chan joining the Company’s executive management team; Ms. Chan’s ability to assist in streamlining decision-making and bolstering the Company’s reputation for excellence in engineering and manufacturing; Ms. Chan’s qualifications to serve as COO and ability to be an asset to the entire team; and the ability to drive trucking to a zero-emissions future, encompassing trucking products, customer solutions, and the corresponding energy infrastructure. 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 quarterly report on Form 10-Q for the quarter ended June 30, 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]

Nikola Announces Expansion of Dealer Sales and Service Network Into Canada in Partnership with ITD Industries

PHOENIX – September 15, 2023 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, announced today an expansion of its dealer network into Canada for its Class 8 truck sales and service coverage with the addition of ITD Industries Inc., an industry leading commercial trailer manufacturer and technology business headquartered in Toronto, ON.

ITD is a North American leader in transportation equipment manufacturing, boasting more than two decades of experience, more than 20,000 trailers built and a growing network of customers from across Canada and the U.S. ITD’s diversified products set industry standards for quality, innovation and customer experience.

Canada is a premium market with its supportive population, industry and government as it relates to addressing the impacts of climate change and its ambitious plans to transition towards hydrogen and cleaner fuels.

“Bringing ITD on board as our first Canadian dealer is an exciting move for Nikola. Canada’s zero-emission vehicle friendly environment for Class 8 trucks, fueled by attractive incentives and its ambitious carbon reduction goals, makes it a strategic market for the future of transportation,” said Nikola President and CEO Steve Girsky. “What makes this partnership even more ideal is the shared dedication to our customers. ITD’s commitment to product innovation and customer service aligns perfectly with our mission to empower fleets and drive success as they transition to a more sustainable future.”

“At the heart of ITD is a commitment to sustainability and innovation. Our ability to now include Nikola’s Class 8 zero-emission trucks in our growing product line-up is the perfect complement to our investments in electric trailer technology and a natural next step in our Company’s ambition to bring promising clean transportation solutions to the Canadian marketplace,” said ITD CEO Benny Di Franco.

ITD’s Toronto-based premier Nikola showroom and service operations will be integrated into its manufacturing facility and features 55-foot ceilings and more than 78,000 square feet.

According to ITD’s COO, Philip Turi, “Canadian fleet operators are in critical need of strategic partners to help accelerate their shift to a more sustainable future. We are extremely excited to be leveraging our brand, reputation and new partnership with Nikola to be that accelerant here in Canada.”

Nikola is anticipating 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 truck. This provincial incentive is stackable with the iMHZEV federal incentive.

ITD will be promoting Nikola’s zero-emission trucks across its national sales channels and is a qualified dealer under the Federal government’s iMHZEV program.  ITD will be holding a launch event for industry and other interested stakeholders in the Fall of 2023 to share more about its partnership with Nikola.

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 ITD INDUSTRIES INC.
ITD is an industry leading commercial trailer manufacturer and technology business. Our Company’s strength lies in our rich history of innovative product development, the diversity and passion of our talented team, and deep-rooted commitment to the success of our customers and the communities they serve. Our strategic investments in smart and electric trailer technology will help to power our customers shift to a cleaner more sustainable future.

Out of our 200,000 square foot facility in Toronto, Ontario Canada, ITD manufactures a diverse range of commercial vans, container chassis and specialty trailers. ITD’s dealer and service network ranges from coast to coast. Experience our products and Company story at www.itdtrailers.com, or engage with us on social media via Facebook, Instagram, LinkedIn.

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 adding ITD as a partner and dealer in the Canadian market; and the benefits of the Canadian market for ZEV trucks related to its incentives and carbon reduction goals. 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 June 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]

ITD MEDIA CONTACT
[email protected]

Nikola Addresses Key Business Topics in CEO Chat and Q&A

President and CEO Steve Girsky discusses the company's vision, recent achievements, challenges, and future outlook

PHOENIX – September 13, 2023 – Steve Girsky, President and CEO Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, engaged in a candid and informative CEO Chat and Q&A session today, providing valuable insights into the company’s strategic direction and current developments as it relates to four key topics based on the questions received:

  1. Battery-electric truck recall
  2. Production and delivery expectations
  3. Hydrogen infrastructure buildout
  4. Nikolas future and outlook

The session commenced with an introduction to Girsky’s background and his journey with Nikola, highlighting his belief in the company’s substantial potential. He emphasized Nikola’s unique position in the zero-emission Class 8 truck market, underscoring the believed gap between Nikola and its competitors.

Girsky pointed out the vast opportunities in zero-emission commercial transportation and Nikola’s commitment to being a leader in this space, drawing parallels to his prior experiences with industry disruptors.

The importance of Nikola’s cradle-to-grave approach was discussed, focusing on downstream revenue streams and long-term profitability. Drawing from his extensive automotive background, Girsky emphasized the financial advantages of this comprehensive business model.

Girsky passionately described his experience as Nikola’s CEO, commending the dedication and drive of the team. He cited recent achievements, such as the commencement of hydrogen fuel cell electric truck production, the impressive performance of gamma hydrogen fuel cell test trucks, and successful customer fuel cell demos as evidence of Nikola’s progress.

Customers and stakeholders were assured of Nikola’s unwavering commitment to safety and its ongoing efforts to efficiently address any concerns relating to the battery-electric truck recall.

The attractiveness of Nikola’s products to customers were highlighted, which are reinforced by various state and federal incentives. He discussed the “Innovative Small e-Fleet program” in Calif., which offers substantial vouchers for Nikola’s vehicles, leading to strong customer demand.

Girsky discussed Nikola’s ambitious plans for the hydrogen infrastructure, emphasizing the significance of Calif. as a launchpad for the hydrogen highway. He detailed the deployment of mobile fuelers and collaborations with multiple suppliers to secure hydrogen supply, positioning Nikola as a frontrunner in hydrogen refueling solutions.

In conclusion, Girsky conveyed his optimism for Nikola’s future, emphasizing the significance of Calif. in the company’s commitment to its goals. He assured stakeholders that Nikola is moving in the right direction, with an unwavering focus on its mission to pioneer solutions for a zero-emissions world.

Investors and media interested in the full CEO Chat and Q&A session can access the archived webcast here.

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 Company’s belief in its potential and the gap between its competitors; the Company’s ability to be a leader in commercial transportation; the financial advantages of a cradle-to-grave business model approach; the performance of the fuel cell trucks and demos and the planned launch as an indicator of the Company’s progress; the Company’s ability to efficiently address any concerns relating to the battery-electric truck recall; the attractiveness of the Company’s products as a result of related incentives; the benefits of the Company’s planned hydrogen infrastructure; and the Company’s ability create a hydrogen highway or 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 June 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]

John Vesco Appointed to Nikola Board of Directors

More than 30 years of transportation and supply chain expertise joins Nikola’s leadership

PHOENIX – August 31, 2023 – 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 John Vesco, a seasoned multi-modal transportation expert, to its Board of Directors. With a career spanning more than three decades, Vesco’s extensive executive leadership within prominent transportation and supply chain organizations, including Hub Group and Schneider, underscores his qualifications to contribute significantly to Nikola’s strategic growth initiatives.

“We are thrilled to welcome John Vesco to Nikola’s Board of Directors. With his wide-ranging expertise in creating strategic customer relationships, asset management and navigating complex supply chain models, John brings a wealth of knowledge that I am confident will enrich our vision moving forward,” said Steve Shindler, chairman of Nikola’s Board of Directors. “We look forward to leveraging his insights as we execute our business plan.”

Vesco has continued to be actively involved in the logistics industry through consultancy with organizations developing emerging technologies as well as accessing portfolios for mergers and acquisitions. Additionally, Vesco shares his experience through the role of adjunct professor at Concordia and most recently Aurora University teaching courses in supply chain, leadership and operations management.

“I am pleased and honored to join Nikola’s distinguished Board of Directors, as their commitment to revolutionizing transportation and energy aligns with my own passion for sustainability and innovation,” said Vesco. “I am impressed with their dedication to manufacturing an industry-leading Class 8 semi-truck consistent with my career-long devotion to safety in the industry.  Together we will continue to pave the way for a more sustainable and efficient path forward in the transportation industry.”

A graduate of Walsh University in Finance and Business Administration, Vesco went on to complete a master’s in business administration from Silver Lake College.

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, driving the advancement of the complete hydrogen refueling ecosystem, covering supply, distribution and dispensing.

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 Mr. Vesco joining the Company’s Board of Directors; Mr. Vesco’s ability to contribute to the Company’s strategic growth initiatives and add to the Company’s vision moving forward; 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: 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 quarterly report on Form 10-Q for the quarter ended June 30, 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]

Nikola Corporation Announces Date for CEO Fireside Chat and Q&A Platform for Stockholders with Steve Girsky

PHOENIX — August 29, 2023 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, today announced it will hold a “Fireside Chat” and Q&A session for stockholders with CEO Steve Girsky on Wednesday, September 13, 2023 at 4:30 p.m. ET (1:30 p.m. PT).

Nikola will utilize a Q&A platform developed by Say Technologies to allow verified retail and institutional investors to submit and upvote questions. During the event, Girsky will address a selection of questions submitted.

The platform will open September 5, 2023, at 10 a.m. ET (7 a.m. PT) and close on September 12, 2023, at 10 a.m. ET (7 a.m. PT). To submit questions, please go here:

What: Nikola CEO Fireside Chat and Q&A Webcast with Steve Girsky
When: Wednesday, September 13, 2023
Time: 4:30 p.m. ET (1:30 p.m. PT)
WebcastLive and Replay

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 is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit nikolamotor.com or Twitter @nikolamotor.


INVESTOR RELATIONS
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MEDIA RELATIONS
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Nikola Announces Preliminary Results of Battery Investigations, Voluntarily Recalls 209 Class 8 Battery-Electric Trucks

  • Third party and internal investigations indicate probable cause of previously reported battery pack thermal event
  • Customer trucks may remain in service, immediate actions recommended for Nikola customers and dealers
  • Efforts underway to remedy issues, repairs expected to commence in the coming weeks
  • Hydrogen fuel cell electric truck launch unaffected, in production now with deliveries slated in Q3

PHOENIX – August 11, 2023 – The safety of customers, dealers and team members are Nikola’s top priority. Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today provides the preliminary results of its battery pack investigations and as a precautionary measure, announces a voluntary recall of approximately 209 Class 8 Tre battery-electric vehicles (BEVs). Nikola is currently in the process of filing this voluntary recall with the National Highway Traffic Safety Administration (NHTSA) and is placing a temporary hold on new BEV sales until a resolution is in place.

These actions do not affect the hydrogen fuel cell electric vehicle (FCEV) currently in production as the truck’s battery pack has a different design.

Following an August 10 presentation of preliminary findings from Exponent, a reputable third-party investigator, a coolant leak inside a single battery pack was found to be the probable cause of the truck fire at the company’s headquarters in Phoenix, Ariz. on June 23, 2023. The findings were further corroborated by a minor thermal incident that impacted one pack on an engineering validation truck parked at the company’s Coolidge, Ariz. plant on Aug. 10. No one was injured in either incident.

Internal investigations from Nikola’s safety and engineering teams indicate a single supplier component within the battery pack as the likely source of the coolant leak and efforts are underway to provide a field remedy in the coming weeks.

Tre BEV trucks may remain in operation, but for optimal performance and safety, the Nikola team encourages all customers and dealers to immediately take the following actions:

  • Place the Main Battery Disconnect (MBD) switch into the “ON” position at all times to enable real-time vehicle monitoring and safety systems operation
  • Consider parking trucks outside to allow for over-the-air updates and better connectivity with Fleet Command, Nikola’s truck monitoring system

The company’s software systems are being used in real-time to monitor trucks in the field closely and continually assess risks. Thus far, only two (2) battery packs have experienced a thermal event, out of more than 3,100 packs on trucks produced to date (less than 0.07%).

Additional information, updates and required customer actions will be announced in the coming weeks.

“At Nikola we take safety very seriously,” said Steve Girsky, Nikola’s CEO. “We stated from the beginning that as soon as our investigations were concluded we would provide an update, and we will continue our transparency as we learn more.”

The company’s initial statement on June 23 alluded to foul play as a possible cause of the incident, based on video footage showing a vehicle parked next to the impacted trucks and quickly pulling away after a bright flash and the commencement of the fire. Extensive internal and third party-led hypothesis testing, employee and contractor interviews, and hours of video footage review has since suggested foul play or other external factors were unlikely to have caused the incident.

NIKOLA TRUCK SAFETY
Prior to putting the Tre BEV into production, Nikola spent significant time validating the truck for the safety of the driver and their surroundings. The truck meets and exceeds FMVSS and UN GTR 20 government regulations; was subjected to front, side, rear, and rollover crash testing; and satisfied battery safety elements including vehicle resistance isolation monitoring, water fording resistance, battery coolant leakage monitoring, battery thermal runaway detection, and high-voltage interlock loop fault detection. Battery system safety was tested and validated, including single cell passive propagation resistance (PPR), vibration and mechanical integrity, thermal shock and cycling, fire resistance, external short circuit, and battery management system overcharge, over-discharge, overcurrent, and extreme temperature testing.

ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, via the HYLA brand, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit nikolamotor.com.

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 probable cause and likely source of the thermal event; the Company’s beliefs regarding its ability to provide a remedy, the nature of such remedy and expected timing of repairs; and the Company’s beliefs regarding the extent of vehicles affected. 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 final results of the Company’s investigations into the thermal event; the discovery that the cause of the thermal event is more extensive than initially anticipated; delays or the Company’s inability to remedy the problem; the impact on customer orders and the Company’s brand and reputation; the effect of any governmental or regulatory actions; 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 June 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]

Nikola Corporation Reports Second Quarter 2023 Results

  • Executing on business plan, increasing cash position, and decreasing cash use
  • Continuing to build sales momentum with 45 wholesales and 66 retail deliveries in Q2
  • Began serial production of the hydrogen fuel cell electric truck July 31; first customer deliveries expected in September
  • 18 customer orders to Nikola and dealers for over 200 hydrogen fuel cell electric trucks
  • Continued hydrogen refueling ecosystem development with partners
  • Increased unrestricted cash by $107.1 million in Q2

PHOENIX – August 4, 2023 — 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 June 30, 2023.

“Nikola has turned the corner and is well on the way to executing our business plan and achieving profitability,” said Nikola CEO Michael Lohscheller. “We have nearly doubled our unrestricted cash position while also substantially reducing our spending. We continue to drive forward in our mission to decarbonize heavy-duty trucking and ensure Nikola is successful for the long haul.”

“Our management team is highly focused on delivering trucks to customers at scale and making the most of our first mover advantage in the hydrogen refueling ecosystem” Lohscheller continued.

Execution of Strategic Priorities
During the second quarter we made substantial progress on the realignment of resources with our strategic priorities:

  • Continued building sales momentum delivering 45 wholesale and 66 retail battery-electric trucks, the best retail quarter to date
  • Increased our unrestricted cash position by $107.1 million while substantially reducing our adjusted free cash flow to below our $150 million target for the quarter
  • Raised $233.2 million through capital raise and asset monetization, and improved visibility into future capital needs to fully fund the business model
  • Closed down battery production operations of Romeo Power, Inc. (“Romeo”) and are establishing a battery pack line in Coolidge for our battery-electric trucks
  • Completed the sale of European joint venture to Iveco
  • Made substantial progress in the development of the hydrogen refueling ecosystem with partners


Hydrogen Fuel Cell Electric Truck
On July 31, 2023, we officially began serial production of the hydrogen fuel cell electric truck. The first customer deliveries are expected to take place in September. To date, 18 customers have placed orders for over 200 hydrogen fuel cell electric trucks with Nikola and dealers (1). During the second quarter, the remainder of the 10 gamma trucks were fully built and commissioned. Gamma trucks will be used in final vehicle validation and customer pilot testing.


Battery-Electric Truck
During the second quarter we continued to build sales momentum on the battery-electric trucks, wholesaling 45 to dealers with 66 retail sales. We expect sales momentum to continue building as customers realize the total cost of ownership benefits of zero-emissions trucks and additional government support is introduced to accelerate the transition to zero-emissions.


Energy Infrastructure
Our HYLA team is focused on ensuring there is adequate hydrogen supply to meet truck sales volumes in 2023 and beyond. We continue to move the hydrogen refueling ecosystem forward with well capitalized partners that align with our capital-efficient strategy. Voltera and Nikola are collaborating on the recently announced partnership, and we have begun the station development process for eight (8) initial stations. Our first station in Ontario, California is expected to go into operation by the end of 2023. We have also secured over $50 million in grant funding from various California agencies, reducing the capital costs for hydrogen stations.

On July 19, 2023, we announced Fortescue Future Industries (FFI) acquired the Phoenix Hydrogen Hub project, further validating our capital efficient strategy. We are negotiating an offtake agreement with FFI, which is intended to support hydrogen demand from Nikola truck customers starting in 2025.

In the near term as permanent station infrastructure is built, we are securing adequate fueling solutions to enable trucking operations for early customers. We expect to deploy nine (9) hydrogen mobile fuelers at several locations in California by the end of 2023 to support zero-emissions trucking operations.

Coolidge, Arizona Manufacturing Facility
In Coolidge, the Phase 2 assembly expansion has been completed and the new mixed-model line capable of building both battery-electric and hydrogen fuel cell electric trucks has been installed. The current production capacity of the facility is 2,400 trucks / year on three (3) shifts.

Progress continued on the fuel cell power module assembly line. We expect the fuel cell power module assembly line to be completed in Q4 of this year. Fuel cell power modules utilized in hydrogen fuel cell electric trucks in 2023 will be built and shipped to Coolidge by Bosch.

Progress also continued on the battery pack line installation in Coolidge. When we resume battery-electric truck production, the battery packs utilized will be built at our facility in Coolidge.


Second Quarter Financial Highlights

Webcast and Conference Call Information
Nikola will host a webcast to discuss its second-quarter results and business progress at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time) on August 4, 2023. To access the webcast, parties in the United States should follow this link: https://www.webcast-eqs.com/register/nikiola20230804/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 is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, via the HYLA brand, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information visit our website 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 performance, business plan, strategy and milestones; expectations related to manufacturing facility expansion and truck manufacturing schedule; the Company’s expectations with respect to its capital needs; expectations relating to battery module and pack manufacturing; expectations relating to fuel cell power module manufacturing; expected orders and deliveries of trucks and the timing thereof; expectations related to sales momentum;  the Company’s belief that it has turned the corner, that it has competitive and first mover advantage; the Company’s business outlook; the Company’s plans to ensure adequate hydrogen supply; and terms and potential benefits of planned and actual collaborations with strategic partners. 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: design and manufacturing changes and delays, including global shortages in parts and materials; general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; the effects of inflation and COVID-19; the outcome of legal, regulatory and judicial proceedings to which the Company or Romeo is, or may become a party; demand for and customer acceptance of the Company’s trucks; 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 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 availability of and need for 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 quarterly report on Form 10-Q for the quarter ended March 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 , adjusted free cash flow 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]

(1) Orders are subject to receipt of purchase order from dealers to Nikola

Nikola Announces Leadership Transition; Appoints Stephen Girsky as Chief Executive Officer

  • Michael Lohscheller to step down as President and Chief Executive Officer of Nikola Corporation and as a member of the Board of Directors
  • Stephen Girsky, Chairman of Nikola’s Board of Directors, has been named successor, effective immediately, and will remain a member of the Board; Steve Shindler becomes Chairman of the Board

PHOENIX – August 4, 2023 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced Michael Lohscheller will step down as President and Chief Executive Officer (CEO) of Nikola Corporation effectively immediately and as a member of the Board of Directors effective as of August 31, 2023. Steve Girsky, Chairman of the Board since September 2020, has been named CEO of Nikola. Lohscheller has decided to step down due to a family health matter and will be returning to Europe. He will remain at Nikola in an advisory capacity through the end of September to support a seamless transition.

Lohscheller has led Nikola to a more focused business plan to advance the company’s position as a leader in zero-emissions transportation. Key accomplishments include driving sales momentum of the battery-electric truck, doubling retail sales from Q1 to Q2 2023; supporting the launch of the Class 8 hydrogen fuel cell electric truck and generating customer demand; further advancing the organization’s production capabilities in Coolidge, Ariz.; substantially reducing the cash burn by more than 30% from Q1 to Q2 2023 through re-focusing the business; and concentrating on the core North American marketplace as well as creating a new global hydrogen energy brand, HYLA.

Girsky said, “The Board respects Michael’s decision to be with his family during this time and thanks him for his hard work, dedication, and contributions to Nikola. I am grateful for all that Michael was able to accomplish to move our company forward during his tenure.”

“I feel privileged and honored to have served as Nikola’s CEO and to have worked with so many inspiring colleagues who are relentlessly focused on advancing Nikola’s position as a leader in zero-emissions transportation. I am incredibly confident in Nikola’s future,” said Lohscheller.

With more than 30 years of experience working with corporate board executives, labor leaders, OEM leaders, suppliers, dealers, and national policymakers, Girsky is unique in his proven ability to translate vision and strategy into world-class execution, bringing together teams and solutions to drive results.

“Since Nikola’s inception, I have been a champion of its mission. I am energized to take on this role and build upon the work of Michael and the team,” stated Girsky. “I have had the pleasure of getting to know many of Nikola’s executives during my time on the Board and look forward to working with them as well as our talented employees as we continue to execute on our strategy and deliver on our milestones to best serve our valued partners, customers, and suppliers.”

In connection with his appointment as CEO, Girsky will remain on the Board of Directors and Steve Shindler, a director since October 2020, will serve as Chairman of the Board. Shindler is a veteran executive who has significant corporate financial management and strategic planning experience. He has served in c-suite positions, including most recently as CEO of NII from 2012 until August 2017, as well as from 2000 to 2008, where he successfully transformed the company from a start-up operation into a leading wireless provider.

“I am delighted for the opportunity to expand my role with the company and to collaborate more closely with Nikola’s deep and experienced leadership team,” said Shindler. “I have known Steve for many years and as Chair, I am excited to support his vision for the future.”

Nikola will host a conference call and webcast to discuss this news and review and discuss the company’s financial results for the second quarter ended June 30, 2023 on Friday, August 4, 2023, at 10:30 a.m. ET / 7:30 a.m. PT. The webcast will be available at https://nikolamotor.com/investor-events/.


ABOUT STEPHEN GIRSKY
Stephen J. Girsky serves as managing partner of VectoIQ, LLC, an independent advisory firm based in New York. He served as president and CEO of VectoIQ Acquisition Corp. I from its incorporation in January 2018 until the consummation of its business combination with Nikola Corporation. He has more than 30 years of experience working with corporate board executives, labor leaders, OEM leaders, suppliers, dealers, and national policymakers.

Girsky served in a number of capacities at General Motors from November 2009 until July 2014, including vice chairman. He served as chairman of the Adam Opel AG Supervisory Board and was president of GM Europe for a period of time. He was a special advisor to the CEO and CFO of General Motors Corporation from August 2005 to June 2006.

Girsky served as president of Centerbridge Industrial Partners, an affiliate of Centerbridge Partners, LP, and a multibillion-dollar investment fund. Mr. Girsky also previously served as managing director at Morgan Stanley and as senior analyst of the Morgan Stanley Global Automotive and Auto Parts Research Team.

He is on the board of directors at Nikola Corporation, Brookfield Business Partners Limited, the general partner of Brookfield Business Partners, L.P., as well as a private company, Clarios, which is a leader in battery manufacturing. Girsky served on the Board of U.S. Steel from 2016 to 2021 and on the General Motors Board of Directors following its emergence from bankruptcy in June 2009 until June 2016. He also served as the lead director of Dana Holdings Corp. from 2008 to 2009. 

Girsky received a bachelor of science degree in mathematics from the University of California at Los Angeles and a master of business administration from the Harvard Business School.

ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, via the HYLA brand, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit nikolamotor.com.

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 goals and strategies; the Company’s expectations and benefits regarding it business plans and the ability to deliver on those plans and be a leader in zero-emission transportation; and the benefits potentially derived from this leadership transition at the Company;. 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: design and manufacturing changes and delays, including global shortages in parts and materials; 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; the execution and terms of definitive agreements; risks associated with development and testing of fuel-cell power modules and hydrogen storage systems; risks related to the rollout of the Company’s business and milestones and the timing of expected business milestones; the availability of and need for capital; 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 June 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.

NIKOLA MEDIA CONTACT
[email protected]

Nikola Stockholder Meeting: Proposal 2 Passes

Stockholders approve increase in authorized number of common shares

PHOENIX – August 3, 2023 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure supply and solutions, today announced that Nikola has received the requisite number of votes to elect all nominees for director and approve each of the other proposals, including a sufficient number of shares voted in favor of Proposal 2, the Amendment to the Second Amended and Restated Certificate of Incorporation to Increase the authorized number of shares of common stock.

“We are immensely grateful for the unwavering support and confidence our stockholders have demonstrated in Nikola with the passage of all of this year’s Proposals,” expressed Michael Lohscheller, Nikola’s Chief Executive Officer. “This positive outcome, particularly with respect to Proposal 2, was critical for continued growth and success as we move forward with our strategic priorities, including autonomous technologies and software, our HYLA hydrogen ecosystem and the recent launch of the Nikola hydrogen fuel cell electric vehicle.”


ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit nikolamotor.com.

INVESTOR INQUIRIES
[email protected]

MEDIA INQUIRIES
[email protected]