Lightning eMotors to effect a 1-for-20 Reverse Stock Split

Lightning eMotors to effect a 1-for-20 Reverse Stock SplitLOVELAND, Colo. 24 April, 2023 – Lightning eMotors, Inc. (NYSE: ZEV), a leading provider of zero emission medium-duty commercial vehicles and electric vehicle technology for fleets, announced today that its Board of Directors approved a 1-for-20 reverse stock split of its issued and outstanding shares of common stock, effective at 5 p.m. Eastern Time on April 27, 2023. Upon the effectiveness of the reverse stock split, every twenty shares of common stock issued and outstanding will automatically be converted into one share of common stock. The reverse stock split will not reduce the number of authorized shares of common stock or change the par value of the common stock. The reverse stock split will affect all stockholders uniformly and will not affect any stockholder’s ownership percentage of the company’s shares of common stock. The common stock issued pursuant to the reverse stock split will remain fully paid and non-assessable.