On February 20, 2024, M&M Residual, LLC announced that it has issued a statement regarding its nomination of 5 independent director candidates Cole Cannon, Derek Johnson, Hans Peterson, Paul Southam, and Dave Sparks for election to Nikola Corporation?s 9-member Board of Directors at the 2024 Annual Meeting of Stockholders. M&M Residual stated that its 5-member slate of independent candidates is excited about the opportunity to help fix the Company?s addressable issues and put the Company back on the path to value creation. While the Board recently publicly stated that it rejected its nominations, the reality is that the Company has not legally done so and that its nominations still stand who are focused on one goal: implementing a lasting turnaround that unlocks the significant potential of the Company.