Workhorse Group (WKHS) Proxy Filing summary

Executive summary

• Announced a merger agreement with Motiv Power Systems to form a leading North American medium-duty electric truck OEM, aiming to broaden product offerings and strengthen financial position for both near- and long-term periods.

• The merger is expected to provide shareholders with the opportunity to participate in the growth of the medium-duty EV commercial vehicle market.

• The transaction is positioned as the best path forward after evaluating multiple strategic options in response to challenging market conditions.

• Forward-looking statements highlight anticipated synergies, operational efficiencies, and enhanced shareholder value, but also caution about risks and uncertainties.

Voting matters and shareholder proposals

• Shareholder approval is required to consummate the proposed merger transaction.

• Proxy materials will be filed and distributed to shareholders, who are urged to review them carefully before voting.

Board of directors and corporate governance

• The board and management team evaluated numerous opportunities before selecting the merger as the optimal strategy.

• Information about directors, executive officers, and their interests in the transaction is available in recent SEC filings.