Volta Inc. Provides Business Update

– Organization Expects to Report Fourth Quarter and Comprehensive 12 months 2021 Revenue of roughly $12 Million and $32 Million, respectively –

– Expects First Quarter 2022 Income to Array from $8 million to $8.5 Million –

– Provides Total Year 2022 Profits Outlook of $70 million to $80 Million –

– Expects Form 10-K Submitting to be Delayed –

SAN FRANCISCO, April 01, 2022–(Small business WIRE)–Volta Inc. (“Volta” or the “Corporation”) (NYSE: VLTA), an field major global EV charging network, powering vehicles and commerce, currently announced preliminary revenues of about $12 million for its fourth quarter 2021, up 45% yr-around-year, and revenues of $32 million for the whole calendar year finished December 31, 2021, up 66% year-around-12 months. Complete stalls connected as of December 31, 2021 was 2,330.

Also, the Company expects initially quarter 2022 revenues to variety from $8 million to $8.5 million. For whole year 2022, the Enterprise anticipates revenues to assortment from $70 million to $80 million. Volta expects 2022 income to be greater in the second 50 % of the yr, as a reflection of the expanding scale of our community and accompanying seasonal media profits designs. For 2022, the Business expects overall incremental, related stalls in the assortment of 1,700 to 2,000.

Because of to supplemental time needed to full its year-close reporting system and file its Once-a-year Report on Sort 10-K for the fiscal 12 months finished December 31, 2021, Volta expects to file a Notification of Late Submitting on Sort 12b-25. On completion of the filing of Kind 10-K, the Enterprise anticipates holding an investor phone.

About Volta Inc.

Volta Inc. (NYSE: VLTA) is a main international EV charging network, powering cars and commerce. Volta Charging’s vision is to establish EV charging networks that capitalize on and catalyze the shift from combustion-driven miles to electric miles by putting stations in which individuals stay, operate, shop and participate in. By leveraging a facts-pushed knowing of driver conduct to provide EV charging methods that in shape seamlessly into drivers’ each day routines, Volta Charging’s purpose is to gain customers, models and serious-estate places even though supporting to establish the infrastructure of the future. As section of Volta Charging’s special EV charging featuring, its stations enable it to improve its web page hosts’ and strategic partners’ core business pursuits, producing a new means for them to gain from the transformative shift to electric mobility. To understand more, take a look at www.voltacharging.com.

Ahead-Hunting Statements

This push launch includes ahead-on the lookout statements, which are topic to the “risk-free harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may well be discovered by words and phrases such as “anticipates,” “feels,” “thinks,” expects,” “estimates,” “tasks,” “intends,” “should really,” “is to be,” or the detrimental of these terms, or other similar terminology and consist of, among other items, statements concerning Volta’s system and other foreseeable future gatherings that require risks and uncertainties. Such ahead-looking statements are not ensures of long run effectiveness and are topic to risks and uncertainties, which could trigger real effects to differ materially from the ahead-hunting statements contained herein because of to several factors, such as, but not limited to: rigorous competition confronted by Volta in the electrical car (“EV”) charging sector and in its content material functions the probability that Volta is not equipped to make on and acquire solid relationships with actual estate and retail partners to build out its charging community and articles partners to expand its content material income pursuits marketplace conditions, which includes seasonality, that could effect the demand from customers for EVs and EV charging stations or material on Volta’s digital displays the means of Volta to efficiently keep senior administration and execute on its small business method challenges, expense overruns and delays associated with development and set up of Volta’s charging stations threats related with any future enlargement by Volta into supplemental intercontinental marketplaces charge raises, delays or new or greater taxation or other limitations on the availability or charge of electric power fast technological transform in the EV market may have to have Volta to go on to produce new products and merchandise improvements, which it may possibly not be in a position to do effectively or devoid of important price the impact of competing systems that could lower the desire for EVs the possibility that Volta’s change to which includes a pay-for-use charging business enterprise model and the need of mobile verify-ins adversely impacts Volta’s skill to retain driver fascination, content material partners and internet site hosts the EV market place may well not carry on to develop as envisioned the hazard that Volta might fall short to successfully develop scalable and robust processes to handle the growth of its enterprise and to extend its geographic footprint the potential to guard its intellectual property rights and those aspects talked about in Volta’s Quarterly Report on Type 10-Q under the heading “Danger Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by other studies and documents Volta files from time to time with the SEC. Any ahead-searching statements discuss only as of the date on which they are built, and Volta undertakes no obligation to update any forward-looking assertion to mirror activities or situation immediately after the date of this push launch.

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