• U.S. Secretary of Energy takes ride in Hypertruck ERX™ demonstration unit

• Current administration’s infrastructure package emphasizes clean energy technology, EVs and the creation of more jobs in the sector

Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, recently met with U.S. Secretary of Energy Jennifer Granholm and U.S. Representative Haley Stevens to showcase the Hypertruck ERX™ at development collaborator FEV North America’s Auburn Hills, Michigan facility. The visit was part of a tour to promote the Biden administration’s $1 trillion bipartisan infrastructure proposal.

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U.S. Secretary of Energy Jennifer Granholm and U.S. Representative Haley Stevens take an in-depth look at the Hyliion Hypertruck ERX ™ during a tour of the FEV North American Technical Center in Auburn Hills, MI. (Photo: Business Wire)

Secretary Granholm and Representative Stevens were given an in-depth overview of the innovative, American-made technology that powers the Hypertruck ERX™, and also took a ride in a proof-of-concept unit, experiencing firsthand the quiet power of an electrified Class 8 truck.

“We were so pleased to showcase the Hypertruck ERX™ to Secretary Granholm, whose commitment to helping America achieve its goal of net-zero carbon emissions through innovative clean energy technology aligns with our vision of an electrified trucking industry,” said Bobby Cherian, Senior Vice President of Sales and Supply Chain.

“Hyliion’s powertrain technology provides fleets with a next-generation solution that empowers them to efficiently address sustainability goals by reducing their carbon footprint while bolstering performance,” Cherian added.

The Hypertruck ERX™ is an electric powertrain that is recharged by an onboard natural gas generator for Class 8 commercial trucks and will provide lower operating costs, emissions reductions, and superior performance to fleets nationwide. Utilizing the 700+ commercial natural gas vehicle filling stations across North America, it enables long range and quick refueling, and when fueled with renewable natural gas, can provide net-negative carbon emissions to commercial fleets.

In April, Hyliion announced a first of its kind Hypertruck Innovation Council with leading fleet and technology companies that will test and provide feedback on the Hypertruck ERX™. Just last week, the company noted that one of its current customers, Detmar Logistics LLC, has executed a reservation agreement covering 300 Hypertruck ERX™, with Hyliion showcasing demonstration units to the Detmar team in late 2021 and trials running in 2022.

About Hyliion

Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.

Forward Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2021 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2021 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K/A filed with the Securities and Exchange Commission (the “SEC”) on May 17, 2021 for the year ended December 31, 2020. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.

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