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Carla Tully Appointed to Nikola Board of Directors

Energy expert joins Nikola’s Board as 2024 infrastructure business expands

PHOENIX – February 16, 2024 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced the appointment of energy and infrastructure expert Carla Tully, to its Board of Directors. Over more than two decades, Tully has built a successful track record leading and scaling energy organizations across Fortune 150, private equity, startup, and government entities. Tully serves as the Vice Chair of Earthrise Energy’s Board of Directors, a Board Director for Citizens for Responsible Energy Solutions Forum and as an Advisor to several energy transition startups.

“As Nikola scales its energy infrastructure business, especially in the hydrogen ecosystem, the addition of Carla to Nikola’s Board of Directors will greatly benefit our company, employees and shareholders,” said Steve Shindler, Chairman of Nikola’s Board of Directors. “Carla’s diverse business expertise, spanning from launching startups to overseeing sizeable organizations, navigating a spectrum of energy industry challenges to mastering capital structure and M&A, and excelling in business development, CSR and sustainability, uniquely positions her to support the Board as the company grows in 2024.”

“I am a firm believer that now is the time to focus our creativity and capital on decarbonizing hard-to-abate sectors,” said Tully. “Nikola is a mission-oriented company that is at the forefront of zero-emission transportation. I’ve dedicated my career to similar missions, and I am delighted to join Nikola’s Board of Directors and support Nikola in 2024 and beyond.”

As Co-Founder and CEO at Earthrise Energy, PBC, Tully achieved remarkable growth leading the energy transition company from concept to a 1.7 GW operating business with a 2.0 GW renewable energy development pipeline. She raised venture capital, private equity, and debt, fueling strategic acquisitions, and built an organization designed to execute Earthrise’s unique business model.

Before founding Earthrise, Tully served as Executive Vice President and Managing Director of Renewable Energy at MAP Energy, a $2.4B energy investment firm, where she scaled MAP’s renewable energy development business and raised its first all-renewable energy fund. At The AES Corporation, a global power leader, Tully held key leadership roles, including President of AES UK and Ireland, Vice President of Corporate Strategy & Investment, and Chief of Staff for Global Utilities, where she shaped and executed growth strategies for AES’s 40 GW businesses worldwide.

Tully received the 2022 Silver Stevie Award for Best Female Entrepreneur and the 2016 UK Institute of Directors’ Award – Director of the Year for Corporate Responsibility. She holds an MBA from Columbia Business School, a Master of Arts in Law and Diplomacy from the Fletcher School at Tufts University, and a Bachelor’s degree in international relations and economics from the University of Southern California.

Nikola Corporation’s mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming transportation and over-the-road freight services. With our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, we are driving the advancement of the complete hydrogen refueling ecosystem. This encompasses supply, distribution, and dispensing, reflecting our commitment to sustainable practices and a cleaner future.

Nikola 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 Twitter @nikolamotor.

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: the Company’s beliefs regarding the potential benefits of Ms. Tully  joining the Company’s Board of Directors; Ms. Tully‘s experience in the energy industry and finance and her insights, acumen and industry relationships as assets that may help the Company in achieving its goals; and the Company’s ability to pave the way for a more sustainable and efficient future in the transportation industry. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. 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 factors, risks and uncertainties regarding the Company’s business described in the “Risk Factors” section of the Company’s quarterly report on Form 10-Q for the quarter ended September 30, 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 the Company’s 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 to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

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