Statement of continued support

11/14/2022

To our stakeholders:

I am pleased to confirm that Hyperloop Transportation Technologies, reaffirms its support of the Ten Principles of the United Nations Global Compact in the areas of Human Rights, Labour, Environment, and Anti-Corruption.

In this annual Communication on Progress, we describe our actions to continually improve the integration of the Global Compact and its principles into our business strategy, culture, and daily operations. We also commit to sharing this information with our stakeholders using our primary channels of communication.

Sincerely yours,

Andres De Leon

Chief Executive Officer

Hyperloop Transportation Technologies

Hyperloop Transportation Technologies is committed to providing a safe and suitable work environment for all its employees, contributors, and contractors. We have taken the following actions to address the United Nations Global Compact Human Rights Principles –

• Developed governing principles of employment for corporate headquarters, which include policies on:
o Equal Employment Opportunity
o Discrimination, Harassment and Retaliation Prevention
o Drug-free workplace
o Workplace violence

• Developed general standards of conduct for corporate headquarters, which includes policies on:
o Workplace conduct
o Communication
o Use of social media
o Use of Facilities, Equipment, and Property, Including Intellectual Property
o Health and Safety
o Operation of company-owned and leased vehicles

• Developed safety policies for the test track in Toulouse, France, they include:
o Safe Operating Procedures (SOP) for vacuum testing on track
o Vacuum testing checklist for SOP
o Signage on the test facility
o List of required personal protection equipment
o In case of accidents or injuries, the procedure to be followed is included in the policies along with emergency contact numbers
o Thermal management checklist

• Developed health and safety recommendations for site work during the pandemic, paying close attention to the following details:
o Ventilation

o Lighting
o Acoustics
o Created a risk assessment matrix

• Developed office policies for all office locations to ensure the health and safety of all employees during the pandemic.

• Developed basic office policies for hiring and a code of conduct for all office locations.

• Supplier Management Guidelines mention that “HyperloopTT as a company and Supply Chain, in particular, must take every care not to employ, either directly or through its partners, suppliers or contractors, anyone under the age of 16, and must not tolerate any form of child labor or any type of forced labor or exploitation. HyperloopTT, while contracting their partners and subcontractors, must make sure explicitly that they confirm compliance with this essential rule.” It also requires suppliers and partners to demonstrate their commitment to ethical conduct.

• HyperloopTT has pledged to foster a culture of sustainability that promotes economic prosperity, environmental benefits, and social values.

Hyperloop Transportation Technologies stands against all forms of forced or bonded labor. We have taken the following actions to address the United Nations Global Compact Labour Principles.

• Developed operational policies for the corporate headquarters for all US employees, focus areas include:

o Flexible work schedules to accommodate the employees' requirements

o On-the-job injuries are covered by the Workers' Compensation Insurance Policy, which is provided at no cost to the employees

• Developed Hyperloop Transportation Technologies Code of Ethics, it is a mandatory compliance for all partners and suppliers of the company. HyperloopTT encourages

dignified employment, scrupulously respecting people’s right not to be victims of forced labor or any other form of labor exploitation within HyperloopTT and among HyperloopTT’s business partners, suppliers, contractors, and subcontractors.

• All corporate headquarter employees are eligible for paid sick leave, and in no event will the rate of pay be less than the Los Angeles or California minimum wage, whichever is higher.

Hyperloop Transportation Technologies is committed to the prosperity of the planet and its communities. We have taken the following actions to address the United Nations Global Compact Environment Principles.

• Corporate | Our actions at the corporate level are listed below:

o Created a sustainability pledge to address the three pillars of sustainability – People, Planet and Prosperity!

o Calculated baseline scope 1 and scope 2 carbon emissions for all office locations.
Identified the categories for Scope 3 calculations

o Switched to the use of 100% renewable energy for the corporate headquarters in Los Angeles

o Use of DocuSign to reduce our paper usage

o Remote meetings are preferred as compared to in-person meetings whenever possible to reduce the carbon emissions from employee travel
o Reduced business travel to reduce the environmental impacts
o In the process of establishing an Environmental Management System, ISO 14001

• Hyperloop Design, Operations, and Construction | We took the actions listed below to incorporate environmental sustainability:

o Developed the technology to reduce the emissions from the transportation sector via the use of renewable energy

o Created a material flow analysis model for benchmarking the carbon emissions for the Great Lakes Feasibility Study

o Conducted research on low emissions materials to reduce the emissions from the construction

o Our supplier quality requirements are stringent for waste reduction, recycling, hazardous material handling

As Hyperloop Transportation Technologies is starting its journey, we have identified the following indicators to measure outcomes from our actions to embed the 10 principles of the United Nations Global Compact.

• 100% use of green energy at corporate headquarters, avoided 4 Tons of carbon emissions from 11/01/2021 to 10/31/2022

• From 12/01/2021 to 10/31/2021 reduced 1,286 lbs. of carbon by using DocuSign

• We plan to calculate the carbon emissions from the construction materials and identify low emissions materials for use wherever possible

• We plan to set up an internal price on carbon

• We plan to engage the internal stakeholder community to raise awareness in moving forward the United Nations 2030 Agenda
• We plan to be ready for ISO 14001 certification by December 2023

Hyperloop Transportation Technologies stands against all forms of corruption. We have taken the following actions to address the United Nations Global Compact Anti-Corruption Principles.

• Updated Code of Ethics developed by Hyperloop Transportation Technologies include anti-money laundering and counter-terrorist financing measures as mandatory compliance for all suppliers and partners.

• Developed a Data Security and Access Management Policy for protecting access to IT systems and applications which is critical to maintaining the integrity of the technology and intellectual property and know-how of Hyperloop Transportation Technologies.