Lohscheller Releases Video Explaining Why Proposal 2 is Vital to Nikola's Future

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PHOENIX, May 10, 2023 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, has published a video message from President and Chief Executive Officer Michael Lohscheller, explaining why he is recommending Nikola stockholders vote FOR all six proposals for the June 7 annual meeting, particularly Proposal 2. The video can be accessed HERE and is available on all Nikola social media channels.

Proposal 2 is seeking the approval to increase the number of authorized shares of Nikola common stock. In the video, Lohscheller states, "Nikola is in a capital-intensive energy and transportation business. Trucks and fueling stations are expensive. Our goal is to change the way the world transports goods, so we aren't damaging our planet. The company is meeting its milestones and producing some of the world's first battery-electric trucks, and is on track to produce some of the world's first hydrogen fuel cell electric trucks so we can reduce the 4 million Class 8 diesel trucks on U.S. roads today. Nikola is creating a clean energy ecosystem to acquire, produce and distribute hydrogen to fuel these trucks. We intend to have 60 stations in California by 2026."

To make this happen, Nikola is asking its stockholders to help create this future by voting FOR all the proposals.

Every vote matters. Stockholders must ACTIVELY VOTE by 11:59 p.m., Eastern Time, on June 6, 2023, for their vote to count.

VOTE NOW - it is quick and simple:

• BY PHONE: Please call Alliance Advisors, Nikola's proxy solicitor, toll-free, at (855) 935-2562, if in North America. International voters can call 1 (551) 210-9929. You can also contact Alliance Advisors if you have any questions about voting.
• Retail investors, including individual stockholders who purchased shares through app-based brokers, should call the relevant number above.
• Beneficial holders should call 1 (866) 804-9616.
• BY INTERNET: Vote at www.proxyvote.com using your control number by following the instructions shared by your broker, bank or other nominee.
• If you are a Robinhood holder, proxy voting emails are sent by [email protected] and voting is hosted by Say Technologies. You will be able to vote and view materials directly from your email.

The 2023 Annual Meeting of Stockholders will be held virtually on Wednesday, June 7, 2023, at 1:00 p.m., Pacific Time via live audio webcast. In order to attend, you must register in advance at http://www.viewproxy.com/nkla/2023 by 11:59 p.m., PT on June 6, 2023.

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 www.nikolamotor.com 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 goal and strategy; the Company's expectations regarding the production of hydrogen fuel cell electric trucks; and the Company's plans with respect to building hydrogen fuel stations, including the timing thereof. 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 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.

SOURCE Nikola Corporation