Nikola Corporation Announces Change to Board of Directors

PHOENIX, April 14, 2022 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, today announced that Sophia Jin will be completing her three-year term on Nikola's Board of Directors and will be retiring from the Board after this year's annual meeting in June. Jin has been a valued member, serving on the Board's audit committee during that time.

Jin is currently senior director of venture investments of Hanwha Holdings, a stage-agnostic investor representing Hanwha Corporation, since January 2019, and was director of venture investment of Hanwha Holdings from January 2018 to December 2018.

"I am grateful for my opportunity to serve on the Nikola Board and am proud of what has been accomplished during that time. I remain confident in Nikola's future and am excited to see the company execute on its groundbreaking business plan," Jin shared.

Jin's departure does not affect the ongoing strategic relationship between Nikola and Hanwha as both continue to have mutual confidence in the vision to move a zero-emissions future forward.

"On behalf of the Board, I want to thank Sophia for her commitment and support to advance Nikola's vision forward over these past three years," said Nikola Chairman of the Board Stephen Girsky.

Nikola does not intend to replace Jin's position, and will decrease the size of its board from ten to nine.

ABOUT NIKOLA CORPORATION:
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.

FORWARD LOOKING STATEMENT
Certain statements included in this press release that are not historical facts are forward-looking statements. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the relationship between Nikola and Hanwha and Nikola's strategic mission. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Nikola's management. We cannot assure you that forward looking statements will be achieved and forward-looking statements are not predictions of actual performance. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to, design and manufacturing changes, challenges and delays; economic, financial, legal, supply chain, regulatory, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; the potential effects on global markets from the war in Ukraine; the outcome of legal, regulatory and judicial proceedings to which Nikola is, or may become a party; demand for and customer acceptance of Nikola's trucks; risks associated with development and testing of fuel cell power modules and hydrogen storage systems; risks related to the rollout of Nikola's business and the timing of expected business milestones, including delivery of trucks for sale; the effects of competition on Nikola's future business; the availability of capital; risks associated with changes in accounting treatment or accounting standards; and the other risks detailed from time to time in Nikola's reports filed with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 30, 2021 and other documents Nikola files with the SEC. 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.

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SOURCE Nikola Corporation