On January 31, 2024, Nikola Corporation promoted Dirk Ole Hoefelmann, the Company?s current Global Head of Infrastructure Operations of HYLA, to serve as the Company?s President of Energy, effective February 5, 2024, to replace Joseph S. Cappello, who is transitioning from the Company. Mr. Hoefelmann, age 56, has served as the Company?s Global Head of Infrastructure Operations of HYLA since October 2023. Prior to joining the Company, Mr. Hoefelmann served as General Manager, Electrolyzers of Plug Power Inc., from January 2021 to April 2023.

Prior to that, Mr. Hoefelmann served in various capacities for 30 years at Air Liquide, a global supplier of industrial and medical gases, including as Vice President, World Business Line Industrial Merchant from September 2019 to January 2021, Chief Executive Officer, Air Liquide Advanced Technologies U.S. LLC from March 2013 to August 2019, and Chairman of Air Liquide Advanced Materials from September 2013 to December 2015. Mr. Hoefelmann received an MBA in International Business and a Bachelor of Science degree in Mathematics from Saint Mary?s College of California. Mr. Cappello will remain employed with the Company through March 1, 2024 as a non-executive officer.

Mr. Capello will receive severance benefits in accordance with the terms of his executive employment agreement.