Lightning eMotors Enters into Exchange Agreements with Certain 7.5% Convertible NoteholdersLOVELAND, Colo. Nov 17, 2022 — Lightning eMotors, Inc. (NYSE: ZEV), a leading provider of zero emission medium-duty commercial vehicles and electric vehicle technology for fleets, announced today that on November 16, 2022 it entered into privately negotiated exchange agreements with certain holders (the “Noteholders”) of its unsecured 7.5% convertible senior notes due in 2024 (the “Convertible Notes”) to exchange $14.0 million aggregate principal amount of the Convertible Notes for approximately 13.3 million newly issued shares of its common stock. After the closing, $73.9 million aggregate principal amount of the Convertible Notes will remain outstanding. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of U.S. federal securities laws. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. You should not put undue reliance on any forward-looking statements.