Nikola Commences Exchange Offer to Acquire Romeo Power

The proposed exchange ratio represents an approximately 34% premium to Romeo’s July 29, 2022 closing share price. Nikola has filed with the U.S. Securities and Exchange Commission (the “SEC”) a tender offer statement on Schedule TO, which includes a summary of the terms of the Offer. The Exchange Offer Materials are available to all Romeo stockholders at no expense to them. The Exchange Offer Materials are available for free on the SEC’s website at www.sec.gov. In addition to the Exchange Offer Materials, Nikola and Romeo file annual, quarterly and current reports and other information with the SEC.