NIKOLA AND AiLO LOGISTICS ANNOUNCE ORDER FOR 100 HYDROGEN FUEL CELL ELECTRIC TRUCKS

LAS VEGAS, May 21, 2024 /PRNewswire/ -- The 2024 Advanced Clean Transportation (ACT) Expo marks another step in decarbonizing the trucking industry for Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand and AiLO Logistics, a major drayage carrier operating in the Ports of Los Angeles and Long Beach. Today, it is announced that AiLO has placed a 100-truck order of Nikola hydrogen fuel cell electric vehicles ("FCEVs") from Tom's Truck Centers, a member of the Nikola sales and service dealer network. Deliveries are scheduled for 2025.

As part of AiLO's ongoing efforts to advance sustainable logistics services, the company's drayage division is poised for expansion. This includes incorporating 100 Nikola hydrogen FCEVs into their operations to meet the growing demands of the port industry.

"Nikola trucks are on the road today, and the biggest test of our trucks is measured by our customers and their repeat orders," said Ryan Clayton, Global Head of Sales, Nikola Corporation. "Having a prominent and mission-driven customer in AiLO not only purchase trucks for 2024 but double their order for 2025 is an honor for our organization and a testament to their drive to make a difference. We are glad to support with Class 8 vehicles as well as our HYLA energy infrastructure."

AiLO, a newly rebranded company combining other corporations, including MDB Transportation, had previously ordered 50 Nikola FCEVs from Tom's Truck Centers. Deliveries from that original order have commenced and are ongoing throughout 2024.

"We're not just in the business of moving goods; we're in the business of moving businesses forward. Through innovation, technology, and sustainable practices, we aim to redefine the logistics landscape and drive positive change in the industry," said Jack Khudikyan, AiLO CEO. "This strategic move to incorporate Nikola FCEVs into our operations reaffirms our commitment to environmental stewardship and underscores our proactive approach toward embracing cutting-edge technologies."

One of the distinctive black and colored-striped AiLO trucks is featured at Nikola's Ride and Drive event area at the 2024 ACT Expo.

ABOUT NIKOLA CORPORATION:
Nikola Corporation's mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem, covering supply, distribution and dispensing.

Nikola headquarters is based in Phoenix, Arizona with a manufacturing facility in Coolidge, Arizona.

Experience our journey to achieve your sustainability goals at nikolamotor.com or engage with us on social media via Facebook @nikolamotorcompany, Instagram @nikolamotorcompany, YouTube @nikolamotorcompany, LinkedIn @nikolamotorcompany or X / Twitter @nikolamotor.

ABOUT AiLO
AiLO, which stands for "Ai Logistics," is a leading provider of port drayage services in the Ports of Los Angeles, Long Beach, and other major ports nationwide, reaffirms its dedication to sustainability and innovation with a significant milestone in its fleet technology.

The significance of this transition is highlighted by recent statistics from the Port of Los Angeles, where, in the first four months of 2024, local dockworkers moved a staggering 3,150,841 Twenty-Foot Equivalent Units (TEUs) across Los Angeles marine terminals. This marked a remarkable increase of nearly 25% compared to the previous year, reflecting the escalating demand for efficient and sustainable logistics solutions.

In line with our commitment to decarbonization, AiLO was one of the first fleets to utilize near-zero technology, powered by Compressed Natural Gas (CNG) and Renewable Natural Gas (RNG). This initiative not only aligns with our customers' Green Supply Chain Goals (GSG) but also underscores our mission of achieving zero emissions in our operations.

AiLO's comprehensive product offerings encompass a wide range of services tailored to meet the diverse needs of our clients, including Drayage, 3PL, Dedicated Service, Cartage, Local and Regional Haul, Cross-Border Operations, and Warehouse and Cross-Dock Solutions. Each service is delivered with a steadfast commitment to excellence, reliability, and environmental responsibility.

NIKOLA FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the "Company"), including statements relating to expected timing of deliveries for orders from AiLO Logistics; and the Company's belief that the biggest test of its trucks is measured by its customers and their repeat orders. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: the ability of the Company to access sufficient capital to meet its requirements and fund its business; manufacturing delays and difficulties; risks related to the rollout of the Company's hydrogen fueling infrastructure and the timing thereof; construction risks and delays; the availability of access to hydrogen refueling facilities; the level of and cancellation of customer orders; risks associated with manufacturing batteries and fuel cell power modules; the Company's ability to remain listed on Nasdaq; and the factors, risks and uncertainties  described in the "Risk Factors" section of the Company's annual report on Form 10-K for the year ended December 31, 2023 filed with the SEC, in addition to the Company's subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Nikola Corporation