NIKOLA CELEBRATES GRAND OPENING OF FIRST HYLA REFUELING STATION IN SOUTHERN CALIFORNIA

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Mar 21, 2024, 18:00 ET

Ontario-based station marks a significant step forward in establishing comprehensive hydrogen refueling network for Class 8 trucks

PHOENIX, March 21, 2024 /PRNewswire/ -- 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.

SOURCE Nikola Corporation