Hyliion Names Shiva Duraiswamy as Vice President of Engineering

• Former engineering leader at Wabtec Corporation and GE Transportation, bringing extensive product innovation and powertrain electrification experience
• Duraiswamy will lead engineering commercialization and drive engineering and software functions as Hyliion brings to market the leading electrified powertrain solutions for the commercial transportation industry

Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that Shiva Duraiswamy has joined the company as Vice President of Engineering.

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Shiva Duraiswamy (Photo: Business Wire)

A seasoned engineering and product leader, Duraiswamy brings nearly 20 years of diverse global experience and a track record of successfully leading large technology-focused teams in product development, life cycle, and project management. At Hyliion, he will oversee engineering teams focused on projects across the product development spectrum, from powertrain and battery innovation to controls and software systems implementation.

Duraiswamy joins Hyliion from Wabtec Corporation—formerly GE Transportation—where he served as Director of Engineering. During Duraiswamy’s time at GE Transportation, he led a global organization of engineers and managers, launched advanced engine and propulsion technologies for fuel efficiency, and spearheaded multiple product initiatives including the development of electrified powertrain solutions for locomotives. Previously, he was with Daimler Trucks North America and Cummins leading the development of engine and powertrain controls products to drive fuel efficiency improvements. Duraiswamy earned a bachelor’s degree in Mechanical Engineering from Bangalore University, a master’s degree in Mechanical Engineering from Purdue University, as well as an MBA in Strategy & Management from Kellogg School of Management.

“I am pleased to welcome Shiva, whose extensive industry expertise, employee management track record, and demonstrated customer-centric leadership make him an invaluable addition to our growing team, which continues to expand with impressive engineering talent from the industry,” said Hyliion CEO Thomas Healy. “Under Shiva’s management, Hyliion’s engineering commercialization team will continue to focus on delivering differentiated products that solve true problems with practical solutions.”

With Duraiswamy’s primary focus on commercialization, Chief Technology Officer Patrick Sexton will continue to develop Hyliion’s forward-looking product strategies. “We are excited to have Shiva join the Hyliion team to lead the tactical commercialization of our engineering products. Bolstering our team with this caliber of talent offers me the bandwidth to focus on future technologies so that Hyliion products can be competitive and differentiated in the future for our customers,” said Sexton.

About Hyliion

Hyliion Holdings Corp.’s (NYSE: HYLN) mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.

Forward Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2021 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX, the ability to meet 2021 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K/A filed with the Securities and Exchange Commission (the “SEC”) on May 17, 2021 for the year ended December 31, 2020. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.

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