Hyliion Holdings Corp. announced that effective March 17, 2023, Elaine L. Chao and Howard Jenkins have resigned from the Board of Directors of the company. In connection with the resignations of Ms. Chao and Mr. Jenkins, and the appointment of three new directors described in further detail below, the Board voted to increase the size of the Board from nine members to ten.

On March 17, 2023, the board increased the size of the Board to ten directors and appointed three new directors to fill the vacancies. Melanie Trent, age 58 will serve as a Class I director with a term that expires at the company's 2024 annual meeting of stockholders. Richard Freeland, age 65 will serve as a Class II director with a term that expires at the 2025 annual meeting of stockholders.

Rodger Boehm, age 65, will serve as a Class III director with a term that expires at the company's 2023 annual meeting of stockholders. Each newly appointed director will serve until the expiration of their respective term or until his or her successor is elected and qualified. Ms. Trent was appointed to serve as the chair of the Nominating and Corporate Governance Committee of the Board.

Mr. Freeland was appointed to serve on the Compensation Committee and the Technology Committee of the Board. Mr. Boehm was appointed to serve on the Audit Committee and Technology Committee of the Board.