Workhorse Group Expands Dealer Network with Addition of Ziegler Truck Group (2024)

Workhorse Group Inc. (Nasdaq:WKHS) (“Workhorse” or “theCompany”), an American technology company focused onpioneering the transition to zero-emission commercial vehicles,today announced it has added Ziegler Truck Groupto its network of dealers, bringing the Company’s total dealercount to 11 partners nationwide.

Ziegler Truck Group has locations in Minnesota, Iowa, andWisconsin, expanding Workhorse’s dealer network across the Midwestregion. With a 110-year legacy of selling and servicing the premierbrands in construction, energy, and agriculture equipment, ZieglerTruck Group brings vast knowledge, advanced infrastructure, andexpertise to the zero-emission vehicle space.

“The expansion of our dealer network to the Upper Midwest, andnow to eleven partners nationwide, demonstrates Workhorse’scontinued progress as we increase production and sales across thecountry,” said Workhorse CEO Rick Dauch. “We are pleased to partnerwith Ziegler Truck Group to meet the growing needs of customers asEV adoption continues to grow.”

“We're building a portfolio of zero-emission vehicles to helpour customers seamlessly navigate the transition of their fleet,"saidJohannes Ariens, Ziegler Truck Group. “Our customers areready to explore, test, and pilot vehicles, and with Workhorse,we're able to get them on the road to zero emissions faster, backedby the support andstabilityof Ziegler Truck Group.”

About Ziegler Truck Group
Ziegler Truck Group (ZTG) is the trusted partner on the road tozero emissions backed by innovative energy solutions that removetraditional roadblocks to getting there. We provide a comprehensivesolution customized to the needs of our customers—including aportfolio of zero-emissions vehicles, access to flexible chargingoptions, and a team of specialists ready to help accelerate thetransition. Ziegler Truck Group is an independent entity as part ofthe Ziegler Companies portfolio.VisitZieglerTruck.com.

About Workhorse Group
Workhorse is a technology company focused on providing ground andair-based electric vehicles to the last-mile delivery sector. As anAmerican original equipment manufacturer, we design and build highperformance, battery-electric trucks and drones. Workhorse alsodevelops cloud-based, real-time telematics performance monitoringsystems that are fully integrated with our vehicles and enablefleet operators to optimize energy and route efficiency. AllWorkhorse vehicles are designed to make the movement of people andgoods more efficient and less harmful to the environment. Foradditional information visit workhorse.com.

Forward-Looking Statements
The discussions in this press release contain forward-lookingstatements reflecting our current expectations that involve risksand uncertainties. These statements are made under the “safeharbor” provisions of the U.S. Private Securities Litigation ReformAct of 1995. When used in this Report, the words “anticipate,”“expect,” “plan,” “believe,” “seek,” “estimate” and similarexpressions are intended to identify forward-looking statements.These are statements that relate to future periods and include, butare not limited to, statements about the features, benefits andperformance of our products, our ability to introduce new productofferings and increase revenue from existing products, expectedexpenses including those related to selling and marketing, productdevelopment and general and administrative, our beliefs regardingthe health and growth of the market for our products, anticipatedincrease in our customer base, expansion of our productsfunctionalities, expected revenue levels and sources of revenue,expected impact, if any, of legal proceedings, the adequacy of ourliquidity and capital resources, the likelihood of us obtainingadditional financing in the immediate future and the expected termsof such financing, and expected growth in business. Forward-lookingstatements are statements that are not historical facts. Suchforward-looking statements are subject to risks and uncertainties,which could cause actual results to differ materially from theforward-looking statements contained in this Report. Factors thatcould cause actual results to differ materially include, but arenot limited to: our ability to develop and manufacture our newproduct portfolio, including the W4 CC, W750, W56 and WNextprograms; our ability to attract and retain customers for ourexisting and new products; risks associated with obtaining ordersand executing upon such orders; the unavailability, reduction,elimination or adverse application of government subsidies,incentives and regulations; supply chain disruptions, includingconstraints on steel, semiconductors and other material inputs andresulting cost increases impacting our Company, our customers, oursuppliers or the industry; our ability to capitalize onopportunities to deliver products to meet customer requirements;our limited operations and need to expand and enhance elements ofour production process to fulfill product orders; our generalinability to raise additional capital to fund our operations andbusiness plan; our ability to obtain financing to meet ourimmediate liquidity needs and the potential costs, dilution andrestrictions imposed by any such financing; our ability to regaincompliance with the listing requirements of the Nasdaq CapitalMarket and otherwise maintain the listing of our securities thereonand the impact of any steps we take to regain such compliance, suchas a reverse split of our common stock, on our operations, stockprice and future access to liquidity; our ability to protect ourintellectual property; market acceptance for our products; ourability to obtain sufficient liquidity from operations andfinancing activities to continue as a going concern and, ourability to control our expenses; the effectiveness of our costcontrol measures and impact such measures could have on ouroperations; potential competition, including without limitationshifts in technology; volatility in and deterioration of nationaland international capital markets and economic conditions; globaland local business conditions; acts of war (including withoutlimitation the conflicts in Ukraine and Israel) and/or terrorism;the prices being charged by our competitors; our inability toretain key members of our management team; our inability to satisfyour customer warranty claims; the outcome of any regulatory orlegal proceedings; and other risks and uncertainties and otherfactors discussed from time to time in our filings with theSecurities and Exchange Commission (“SEC”), including under the“Risk Factors” section of our quarterly reports on Forms 10-K and10-Q filed with the SEC. Forward-looking statements speak only asof the date hereof. We expressly disclaim any obligation orundertaking to release publicly any updates or revisions to anyforward-looking statements contained herein to reflect any changein our expectations with regard thereto or any change in events,conditions or circ*mstances on which any such statement is based,except as required by law.

Media Contact:
Aaron Palash / Greg Klassen
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Group
949-574-3860
WKHS@gateway-grp.com