Membership Furthers Volta’s Leadership Role in the Decarbonization of Digital Media

Volta Inc. (NYSE: VLTA) (“Volta”), an industry-leading electric vehicle (EV) charging and media company, today announced it will join Ad Net Zero as a founding partner for the organization’s new USA chapter. As the only digital out-of-home (DOOH) media network to become a member, Volta’s support demonstrates the company’s continued role in decarbonizing media at a time when the need for advertising leaders to curb emissions while driving sales has never been more pronounced.

Ad Net Zero is an international organization committed to decarbonizing the advertising industry and using marketing’s power to accelerate consumers’ switch to more sustainable products and services. Across its regions, the organization counts more than 100 advertisers, agencies, commercial media owners, and production companies as supporters, with global members including IPG, Google, Havas, Omnicom, Meta, WPP, Sky, Pubmatic, Unilever, and Reckitt, among others. These supporters pledge to uphold Ad Net Zero’s 5-point action plan, which includes curtailing emissions from business operations, advertising production, media planning and buying, and awards and events, as well as utilizing advertising’s power to support consumer behavior change.

“Volta offers advertisers the opportunity to reach highly valuable audiences and measurably drive sales while directly supporting emissions-free, electric miles,” said Brandt Hastings, Chief Commercial Officer at Volta. “As a founding member of Ad Net Zero’s USA chapter, Volta is proud to lead the industry by furthering our efforts to decarbonize our media supply chain and using our network to accelerate a sustainable future for all.”

The Volta Media™ Network is the world’s largest DOOH network integrated into EV charging stations that support the transition to electric mobility. Every campaign featured across Volta’s network of more than 5,700 large-format digital screens directly supports charging sessions providing electric miles to drivers. To date, Volta has provided more than 150 million electric miles and avoided over 70 million pounds of CO2 emissions that would have otherwise been created by gas-powered vehicles.¹

Shifting advertising budgets toward more sustainable platforms requires emissions data to be available during the media planning process. To enable agencies and brands to plan effectively, Volta recently made its campaign emissions calculator publicly available. This easy to use tool allows any advertiser to estimate the CO2 emissions a campaign on Volta’s media network would help avoid as a result of the electric miles it could provide for an EV driver.

In addition to directly supporting the transition to carbon-free electric mobility, campaigns displayed across Volta’s media network assist the transition to a grid powered by renewable energy. Volta purchases certified Renewable Energy Certificates (RECs) equivalent to the amount of electricity used to power its network, giving sponsors confidence they are accelerating a clean transportation and energy future for all. Volta aims to purchase RECs generated in the same year as the electricity consumption, helping to support recently completed renewable energy projects.

In alignment with “Action 5” on Ad Net Zero’s action plan, Volta also leverages the power of its media network to accelerate sustainable consumer behaviors. In September 2022, Volta announced the expansion of its “Charging For All” initiative with the launch of an evergreen educational platform displayed across the Volta Media Network, Volta’s social channels, and Volta’s website. The regularly refreshed creative addresses consumers’ perceived concerns around EVs while shining a light on their numerous benefits and encouraging drivers to consider an EV for their next vehicle. This ongoing campaign demonstrates Volta’s commitment to utilizing the full potential of its media platform to accelerate a clean transportation future.

“In 2022, the US media industry woke up to its emissions responsibilities. This year, the industry must start decarbonizing its operations and getting closer to net zero emissions,” said John Osborn, Director of Ad Net Zero’s USA Chapter. “I have long admired Volta’s leading role in sustainable media and we are honored they have joined Ad Net Zero’s USA chapter as a founding member.”

About Volta

Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle ("EV") charging and media company. Volta's unique network of charging stations powers vehicles and drives business growth while accelerating a clean energy future. Volta delivers value to site partners, brands, and consumers by installing charging stations that feature large-format digital advertising screens located steps away from the entrances of popular commercial locations. Retailers can attract and influence foot traffic, advertisers can precisely target audiences, and EV drivers can charge their vehicles seamlessly as they go about their daily routines. Volta's extensive network leverages its proprietary PredictEV® platform, which uses sophisticated behavioral science and machine learning technology to help commercial property owners, cities, and electric utilities plan EV infrastructure intelligently, efficiently, and equitably. To learn more, visit www.voltacharging.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding our electric vehicle charging and media network. These forward-looking statements generally are identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “may,” “opportunity,” “plan,” “potential,” “project,” “should,” “strategy,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2022 and June 30, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.voltacharging.com. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

¹ Data collected to determine environmental benefits from Volta's charging stations is calculated in accordance with US EPA’s methodology using the published greenhouse gas equivalencies calculator, and the US Department of Energy's published miles per kWh rating per electric vehicle (EV) model. Environmental calculations are good faith estimates made using assumptions that are based on current industry and other government and societal data available to Volta, which may be updated from time to time.