Workhorse Group Inc.

On December 15, 2025, Workhorse Group Inc. (the “Company” or “Workhorse”) completed its previously announced merger transaction in accordance with the terms and conditions of the Agreement and Plan of Merger, dated as of August 15, 2025 (the “Merger Agreement”), by and among Workhorse, Omaha Intermediate 2, Inc., a wholly owned subsidiary of Workhorse (“Intermediate Parent”), Omaha Intermediate, Inc., a wholly owned subsidiary of Intermediate Parent (“Intermediate”), Omaha Merger Subsidiary, Inc., a wholly owned subsidiary of Intermediate (“Merger Subsidiary”), and Motiv Power Systems, Inc., a privately-held Delaware corporation (“Motiv”), pursuant to which Merger Subsidiary merged with and into Motiv, with Motiv surviving as a wholly owned subsidiary of the Company (the “Merger”). For accounting purposes, the Merger was treated as a reverse acquisition and, as such, the historical financial statements of the accounting acquirer, Motiv, which were audited by CBIZ CPAs P.C. (“CBIZ”), become the historical consolidated financial statements of the Company.