Volta Inc. Provides Business Update

– Company Expects to Report Fourth Quarter and Total 12 months 2021 Income of around $12 Million and $32 Million, respectively –

– Expects Initially Quarter 2022 Revenue to Assortment from $8 million to $8.5 Million –

– Gives Entire Calendar year 2022 Earnings Outlook of $70 million to $80 Million –

– Expects Variety 10-K Submitting to be Delayed –

SAN FRANCISCO, April 01, 2022–(Enterprise WIRE)–Volta Inc. (“Volta” or the “Business”) (NYSE: VLTA), an sector foremost world EV charging community, powering automobiles and commerce, right now announced preliminary revenues of approximately $12 million for its fourth quarter 2021, up 45% yr-about-12 months, and revenues of $32 million for the total year ended December 31, 2021, up 66% 12 months-in excess of-yr. Whole stalls related as of December 31, 2021 was 2,330.

Furthermore, the Enterprise expects very first quarter 2022 revenues to assortment from $8 million to $8.5 million. For whole yr 2022, the Organization anticipates revenues to variety from $70 million to $80 million. Volta expects 2022 profits to be bigger in the next 50 percent of the calendar year, as a reflection of the expanding scale of our community and accompanying seasonal media earnings styles. For 2022, the Company expects total incremental, related stalls in the selection of 1,700 to 2,000.

Due to added time expected to entire its 12 months-stop reporting system and file its Annual Report on Type 10-K for the fiscal year ended December 31, 2021, Volta expects to file a Notification of Late Filing on Variety 12b-25. Upon completion of the submitting of Variety 10-K, the Company anticipates keeping an investor simply call.

About Volta Inc.

Volta Inc. (NYSE: VLTA) is a foremost world-wide EV charging network, powering autos and commerce. Volta Charging’s eyesight is to make EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by putting stations in which shoppers are living, perform, shop and engage in. By leveraging a data-driven comprehension of driver actions to provide EV charging options that fit seamlessly into drivers’ every day routines, Volta Charging’s purpose is to gain buyers, models and true-estate places though serving to to develop the infrastructure of the long term. As aspect of Volta Charging’s exceptional EV charging providing, its stations enable it to increase its web site hosts’ and strategic partners’ main professional passions, generating a new indicates for them to reward from the transformative shift to electric mobility. To master extra, go to www.voltacharging.com.

Forward-On the lookout Statements

This push release contains ahead-hunting statements, which are matter to the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These statements could be recognized by terms these kinds of as “anticipates,” “feels,” “thinks,” expects,” “estimates,” “jobs,” “intends,” “should,” “is to be,” or the destructive of such phrases, or other similar terminology and consist of, amid other matters, statements concerning Volta’s strategy and other long term functions that involve pitfalls and uncertainties. Such forward-looking statements are not assures of long term effectiveness and are issue to hazards and uncertainties, which could bring about genuine outcomes to vary materially from the forward-searching statements contained herein due to quite a few variables, including, but not limited to: intensive levels of competition confronted by Volta in the electrical motor vehicle (“EV”) charging current market and in its content things to do the likelihood that Volta is not able to make on and acquire robust associations with true estate and retail companions to create out its charging community and material associates to increase its articles income functions industry situations, which includes seasonality, that may well affect the demand from customers for EVs and EV charging stations or material on Volta’s digital shows the potential of Volta to effectively keep senior administration and execute on its small business method hazards, value overruns and delays related with building and installation of Volta’s charging stations threats linked with any long term expansion by Volta into additional intercontinental marketplaces price boosts, delays or new or greater taxation or other limits on the availability or charge of electricity speedy technological change in the EV field may call for Volta to continue on to develop new solutions and item improvements, which it might not be equipped to do productively or without substantial price tag the influence of competing technologies that could reduce the demand from customers for EVs the hazard that Volta’s change to including a spend-for-use charging small business design and the necessity of cell check out-ins adversely impacts Volta’s skill to keep driver fascination, written content companions and web site hosts the EV industry might not continue to improve as envisioned the threat that Volta may perhaps fail to proficiently construct scalable and robust procedures to regulate the growth of its business and to extend its geographic footprint the skill to guard its mental home rights and people elements talked about in Volta’s Quarterly Report on Type 10-Q under the heading “Possibility Variables,” filed with the Securities and Trade Commission (the “SEC”), as supplemented by other reports and paperwork Volta documents from time to time with the SEC. Any ahead-seeking statements communicate only as of the date on which they are manufactured, and Volta undertakes no obligation to update any ahead-wanting assertion to mirror occasions or situation just after the day of this press release.

Look at supply edition on businesswire.com: https://www.businesswire.com/information/household/20220331006071/en/


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