Hyliion Holdings Corp. announced that Effective February 13, 2024, Mr. Andrew Card, Jr. and Mr. Stephen Pang have resigned from the Board of Directors. Mr. Card is pursuing a new leadership role with the George & Barbara Bush Foundation, and Mr. Pang is resigning due to personal reasons.

Neither resignation was due to any disagreement with the Company on any matter relating to the Company?s operations, policies or practices. The Company sincerely thanks Mr. Card and Mr. Pang for their contributions and dedication to the Company. In connection with the resignations of Mr. Card and Mr. Pang, on February 13, 2024, the Board voted to decrease the size of the Board from ten members to eight.

In connection with transition away from the powertrain business, Mr. Dennis Gallagher will depart from his role as Chief Operating Officer, effective February 29, 2024. Mr. Gallagher?s departure is not a result of any disagreement with the Company or its Board of Directors on any matter relating to the Company?s operations, policies or practices. The Company sincerely thanks Mr. Gallagher for his leadership and contributions to the Company.