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Workhorse Group and The Truck Shop Secure First Pacific Northwest Sale with Municipal Order for Electric Work Trucks

1. Workhorse enters the Pacific Northwest with two electric truck sales. 2. The municipality aims to enhance waste management and sustainability using the trucks. 3. This deal simplifies procurement for governmental fleets through Sourcewell cooperation. 4. The W4 CC trucks contribute to zero-emission goals and reduce fossil fuel reliance.

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Why Bullish?

The municipal sale in a new region may boost demand and visibility for WKHS, similar to prior municipal contracts that positively affected similar companies.

How important is it?

This milestone reflects Workhorse's growth and market expansion, crucial for its financial health.

Why Long Term?

Establishing a foothold in the Pacific Northwest promotes future sales, aligning with long-term electrification trends.

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WKHS
February 13, 2025 08:30 ET  | Source: Workhorse Group, Inc. The municipality will deploy two W4 CC electric work trucks for trash and recycling can switch-outs, enhancing the efficiency of its waste management services. This sale marks Workhorse's entry into the Pacific Northwest, a key region for fleet electrification, facilitated through Sourcewell and The Truck Shop. CINCINNATI, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company pioneering the transition to zero-emission commercial vehicles, has received a purchase order for two W4 CC electric work trucks equipped with 16-foot Summit™ dry van bodies. The sale and delivery are facilitated by The Truck Shop, a Workhorse certified dealer with locations in Washington and Oregon. The customer, a municipality in Washington, will deploy the W4 CC trucks for trash and recycling can switch-outs as part of its fleet operations. By integrating Workhorse electric trucks into its fleet, the city aims to enhance the efficiency of its waste management services while making progress toward zero-emission goals. The W4 CC trucks will contribute to the municipality's sustainable operations by eliminating tailpipe emissions, lowering noise pollution, and decreasing reliance on fossil fuels, aligning with the city's broader environmental objectives.  The purchase was procured through Sourcewell, a cooperative purchasing organization that streamlines the procurement process for government, education, and non-profit agencies. As an awarded contract supplier since 2024, Workhorse enables public sector organizations to efficiently source medium-duty electric work trucks, simplifying the transition to sustainable fleet operations. This milestone marks Workhorse’s first sale in the Pacific Northwest, a key region for fleet electrification. “Breaking into the Pacific Northwest with this municipal sale is a big win for us,” said Kelly Kiger, Vice President of Sales. “By teaming up with trusted dealers like The Truck Shop and leveraging our Sourcewell contract, we're making it straightforward for government and municipal fleets to switch to zero-emission vehicles. It's all about providing reliable, sustainable solutions that make a real difference in our communities.” The Workhorse W4 CC is a 100% electric Class 4 cab chassis designed for a variety of upfit applications, offering a quiet, zero-tailpipe-emission solution for urban fleet operations. With a robust battery system and versatile body configurations, the W4 CC is built to support the evolving needs of municipal, vocational, and commercial fleets. For more information about Workhorse and its electric commercial vehicle lineup, visit workhorse.com Sourcewell Information:Contract Number: #032824-WKHMaturity Date: July 9, 2028Contract Renewal: One-year extensionsLearn more about Sourcewell and its contract with Workhorse at sourcewell-mn.gov. About Workhorse Group Inc.Workhorse is a technology company focused on providing ground-based electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric trucks. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit workhorse.com. Forward-Looking StatementsThe discussions in this press release contain forward-looking statements reflecting our current expectations that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “expect,” “plan,” “believe,” “seek,” “estimate,” and similar expressions are intended to identify forward-looking statements and relate to future periods. These are statements that involve substantial risks and uncertainties, including our ability to timely deliver the W4 CC cab chassis applicable to the purchase order and conditions to delivery and acceptance thereof. Forward-looking statements are statements that are not historical facts and speak only as of the date hereof. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. Media Contact:Aaron Palash / Greg KlassenJoele Frank, Wilkinson Brimmer Katcher212-355-4449 Investor Relations Contact:Tom Colton and Greg BradburyGateway Group949-574-3860WKHS@gateway-grp.com

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