Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Received an order from UPS for electric trucks to improve air quality in Houston-Galveston.

Social Achievements

• Not disclosed

Governance Achievements

• Established a Nominating and Corporate Governance Committee, a Compensation Committee, and an Audit Committee in December 2015.

Climate Goals & Targets

Environmental Challenges

• Lack of sales, negative working capital, and stockholders' deficit raise substantial doubt about the ability to continue as a going concern.
• Need for additional financing.
• Limited operating history makes it difficult to evaluate future business prospects.
• Failure to successfully integrate the Workhorse brand and assets.
• High costs and expenses associated with operating the business.
• Dependence on the willingness of fleet operators to adopt electric vehicles.
• Lack of long-term supply contracts with guaranteed pricing.
• Inability to scale operations quickly.
• Dependence on key personnel.
• Competition from companies with greater resources.
• Potential for products to become obsolete.
• Unavailability or reduction of government subsidies and incentives.
• Inability to keep up with advances in electric vehicle technology.
• Limited number of customers with no long-term agreements.
• Potential for product liability claims.
• Need to develop a retail product distribution network.
• Potential risks related to internal controls over financial reporting.
• Potential negative impact of regulatory requirements.
• Potential rejection of FAA application to test UAS/Truck combination.

Mitigation Strategies

• Management is developing plans to alleviate negative trends.
• Seeking additional financing through debt or equity.
• Working on initiatives to reduce cost structure.
• Developing fleet integration strategies and fleet management support services.
• Securing supply agreements for critical components.
• Scaling operations at the Union City facility.
• Working to attract and retain key personnel.
• Focusing on product innovation and differentiation.
• Monitoring industry trends and adapting products.
• Developing relationships with large customers.
• Maintaining product liability insurance.
• Implementing a retail product distribution network.
• Improving internal controls over financial reporting.
• Monitoring regulatory changes and ensuring compliance.
• Seeking FAA approval for UAS testing.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• E-GEN range-extended electric trucks
• E-100 all-electric trucks
• HorseFly unmanned aerial vehicle (UAV)

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Sustainability
• Zero emissions vehicles
• Workforce engagement
• Supply chain sustainability
• Corporate governance

Environmental Achievements

• Bringing commercial EV trucks to customers
• Revamp of manufacturing complex in Union City, Indiana

Social Achievements

• Workforce training to advance ESG priorities
• Employee well-being program including flexible paid time off, life planning benefits, wellness platforms and employee assistance programs
• Competitive compensation and benefits

Governance Achievements

• Established a comprehensive corporate governance plan
• ESG Committee oversees workforce training
• Board monitors developments in corporate governance

Climate Goals & Targets

Environmental Challenges

• Challenges that slowed progress
• Need for customers to ramp up their own transition to EV powered vehicles

Mitigation Strategies

• Closed a financing transaction to provide short- and long-term liquidity
• Aggressive cost reduction actions

Supply Chain Management

Responsible Procurement

• Developing sourcing of responsibly produced materials from suppliers who have social, environmental and sustainability best practices

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• All-electric delivery trucks

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainability

Environmental Achievements

• FedEx order for 15 W56 step vans, enabling the avoidance of an estimated 607 metric tons of tailpipe emissions annually.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• W56 step van

Awards & Recognition

• Not disclosed