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PRESS RELEASE AUGUST 03 , 2021 Nikola Corporation Reports Second Quarter 2021 Results PHOENIX - August 3 , 2021 -- Nikola Corporation ( Nasdaq : NKLA ) , a global leader in zero - emissions transportation solutions , today reported financial results for the quarter ended June 30 , 2021 . NIKOLA " During the second quarter Nikola continued to pave the way and solidify our place as a global leader in zero - emissions transportation solutions , " said Mark Russell , Nikola's Chief Executive Officer . " We have had continued success in commissioning and validating the Nikola Tre BEVs , completed both our Ulm , Germany and Phase 0.5 of our Coolidge , Arizona manufacturing facilities , entered into a purchase agreement with Tumim Stone Capital LLC for up to $ 300 million of Nikola common stock , and acquired a 20 % stake in the Wabash Valley Resources clean hydrogen project in West Terra Haute , Indiana . ” Nikola Tre BEV Validation and Commissioning Progress During the second quarter , validation activities continued on the first batch of five ( 5 ) Nikola Tre BEVs . All nine ( 9 ) trucks from the second batch have been built and are in the United States . Three ( 3 ) trucks from the second batch have been commissioned and are in various stages of validation . The remaining six ( 6 ) trucks from the second batch are currently undergoing commissioning in Arizona . Our batch two trucks have incorporated component improvements and systems iterations from batch one testing . Validation testing will continue to run through Q3 and into the beginning of Q4 . Our team continues to work diligently with suppliers to offset the global parts and materials shortage , as well as work to grow the parts maturity level as we ramp up pre series builds . NIKOLA www.nikolamotor.com Progress Made at Nikola's Coolidge , Arizona Manufacturing Facility As of today , Nikola has completed Phase 0.5 of our Coolidge , Arizona manufacturing facility and is in the process of building seven ( 7 ) trucks in Coolidge , comprised of two ( 2 ) Tre BEV Pre Builds and five ( 5 ) Tre FCEV Alphas . As we are building trucks in Phase 0.5 of the facility , we are concurrently building out the Phase 1 assembly expansion area which will provide additional manufacturing capacity . We anticipate the Phase 1 assembly expansion area will be completed by the end of 2021 . Page 1 of 8