Volta Inc. Provides Business Update

– Company Expects to Report Fourth Quarter and Complete Yr 2021 Profits of somewhere around $12 Million and $32 Million, respectively –

– Expects Initially Quarter 2022 Profits to Vary from $8 million to $8.5 Million –

– Delivers Full Year 2022 Revenue Outlook of $70 million to $80 Million –

– Expects Sort 10-K Filing to be Delayed –

SAN FRANCISCO, April 01, 2022–(BUSINESS WIRE)–Volta Inc. (“Volta” or the “Enterprise”) (NYSE: VLTA), an field foremost world EV charging network, powering cars and commerce, now introduced preliminary revenues of roughly $12 million for its fourth quarter 2021, up 45% 12 months-above-calendar year, and revenues of $32 million for the total year finished December 31, 2021, up 66% 12 months-about-calendar year. Whole stalls linked as of December 31, 2021 was 2,330.

On top of that, the Enterprise expects initially quarter 2022 revenues to selection from $8 million to $8.5 million. For complete yr 2022, the Business anticipates revenues to assortment from $70 million to $80 million. Volta expects 2022 profits to be bigger in the next fifty percent of the 12 months, as a reflection of the expanding scale of our network and accompanying seasonal media earnings styles. For 2022, the Firm expects whole incremental, related stalls in the variety of 1,700 to 2,000.

Owing to additional time essential to complete its yr-close reporting approach and file its Yearly Report on Form 10-K for the fiscal yr finished December 31, 2021, Volta expects to file a Notification of Late Filing on Kind 12b-25. On completion of the filing of Sort 10-K, the Business anticipates keeping an trader simply call.

About Volta Inc.

Volta Inc. (NYSE: VLTA) is a main world wide EV charging network, powering vehicles and commerce. Volta Charging’s eyesight is to make EV charging networks that capitalize on and catalyze the change from combustion-powered miles to electrical miles by inserting stations where by buyers stay, get the job done, shop and participate in. By leveraging a details-driven knowledge of driver behavior to supply EV charging solutions that match seamlessly into drivers’ each day routines, Volta Charging’s purpose is to advantage people, manufacturers and genuine-estate places when supporting to make the infrastructure of the upcoming. As aspect of Volta Charging’s distinctive EV charging supplying, its stations enable it to boost its site hosts’ and strategic partners’ main professional interests, developing a new suggests for them to gain from the transformative shift to electrical mobility. To understand much more, go to www.voltacharging.com.

Tale carries on

Forward-Seeking Statements

This push release includes forward-hunting statements, which are topic to the “risk-free harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These statements could be identified by text this kind of as “anticipates,” “feels,” “believes,” expects,” “estimates,” “tasks,” “intends,” “ought to,” “is to be,” or the damaging of these types of terms, or other comparable terminology and incorporate, among other factors, statements pertaining to Volta’s strategy and other potential gatherings that contain threats and uncertainties. This kind of ahead-wanting statements are not assures of future general performance and are topic to risks and uncertainties, which could trigger true benefits to differ materially from the forward-hunting statements contained herein due to numerous aspects, including, but not confined to: intensive competition faced by Volta in the electric powered car or truck (“EV”) charging marketplace and in its information activities the likelihood that Volta is not equipped to build on and develop potent relationships with serious estate and retail partners to make out its charging community and information companions to develop its content product sales things to do sector ailments, together with seasonality, that might impact the need for EVs and EV charging stations or articles on Volta’s digital displays the capability of Volta to efficiently retain senior administration and execute on its business strategy pitfalls, price tag overruns and delays linked with building and set up of Volta’s charging stations dangers connected with any long run growth by Volta into further intercontinental markets cost improves, delays or new or greater taxation or other constraints on the availability or charge of electricity quick technological change in the EV industry may need Volta to go on to establish new goods and product innovations, which it may not be capable to do correctly or with out important cost the effect of competing systems that could reduce the need for EVs the possibility that Volta’s shift to together with a pay-for-use charging business design and the prerequisite of cellular check out-ins adversely impacts Volta’s means to retain driver desire, material companions and internet site hosts the EV sector may not keep on to develop as envisioned the possibility that Volta may perhaps fall short to proficiently make scalable and sturdy procedures to manage the growth of its business and to extend its geographic footprint the potential to defend its intellectual assets legal rights and those elements talked over in Volta’s Quarterly Report on Kind 10-Q underneath the heading “Chance Components,” filed with the Securities and Trade Commission (the “SEC”), as supplemented by other reports and documents Volta files from time to time with the SEC. Any ahead-looking statements discuss only as of the date on which they are designed, and Volta undertakes no obligation to update any forward-on the lookout assertion to reflect activities or instances immediately after the date of this press release.

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