Hyliion Joins World Economic Forum’s Road Freight Zero Coalition to Drive Global Decarbonization

Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that it has become a member of the World Economic Forum and will join the Road Freight Zero coalition, an initiative that engages industry leaders around the world to accelerate the global transition to a zero-emission transportation future.

The World Economic Forum’s Annual Meeting will take place in Davos, Switzerland next week, where Hyliion will be co-hosting “The Transition to Sustainable Road Freight” affiliate session with Hypertruck Innovation Council member Agility. The panel will feature Thomas Healy, founder and CEO of Hyliion, along with other global industry leaders as they discuss decarbonization challenges and the practical and scalable solutions that can accelerate sustainability-focused technologies.

In 2020 there were 27 million heavy-duty trucks on the road worldwide, emitting 1,183 metric tons of carbon dioxide—41% of total global road freight greenhouse gas emissions. And with 95% of the world’s transportation energy coming from petroleum-based fuels like diesel, the need for innovative technology that utilizes alternative fuels has never been more evident.

“Through their Road Freight Zero effort, the World Economic Forum engages a wide array of forward-thinking leaders in working toward global decarbonization, and we are pleased to be able to bring our perspective to the table. Hyliion was founded with a vision for a net-carbon-negative commercial transportation industry, and we have a singular focus on developing solutions that can reduce the carbon emissions of heavy-duty trucks. I look forward to adding to the conversation around technology advancements and alternative fuels on such an elevated platform,” said Thomas Healy.

Along with other like-minded stakeholders, Hyliion seeks to further the discussion surrounding the transportation industry’s massive carbon footprint and the advancements in technology, infrastructure and policy needed to achieve Road Freight Zero’s ambitious zero emission goals.

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 2022 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 2022 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 filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. 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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