The legislation supports every aspect of Nikola’s integrated truck and energy business model from the development of zero-emissions vehicle technology through and including low-cost hydrogen production and dispensing infrastructure deployment. The IRA, when combined with other state-based incentives, such as the California Low Carbon Fuel Standard (LCFS), will reduce the overall cost of hydrogen production and dispensing. Scaled Clean Hydrogen ProductionNikola and its strategic partners are working to build a large-scale hydrogen supply and dispensing infrastructure business to support Nikola’s truck customers, as well as third-party demand. These projects are anticipated to benefit Nikola through the application of the IRA’s incentives for hydrogen supply and dispensing station infrastructure development. These forward-looking statements include, but are not limited to, statements regarding the anticipated benefits of the IRA to Nikola’s business.