Nikola Tre FCEV Receives CARB Executive Order

Following receipt of this Executive Order, Nikola has submitted an application for eligibility of the Nikola Tre FCEV as an authorized vehicle under the HVIP program for a base incentive amount valued at $240,000 per FCEV truck. The Tre FCEV is well-suited for a variety of applications ranging from drayage and intermodal to metro-regional truckload and less than truckload to certain specialized hauling use cases. Nikola’s Tre BEV, with a range of up to 330 miles, qualified for HVIP certification in California in January 2022. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and Nikola specifically disclaims any obligation to update these forward-looking statements.