#1#2TESLA BOARD: HISTORY OF ENGAGEMENT AND LONG-TERM FOCUS Tesla's mission to accelerate the world's transition to sustainable energy requires a Board willing to commit to long-term goals Board has actively driven key decisions focused on achieving long-term growth and profitability, including decisions to: Manufacture and sell electric vehicles from the ground up rather than simply build powertrains for OEMs ● ● ● ● ● ● Establish Tesla-owned stores and service centers rather than use the franchised dealer system Create a global network of Superchargers to enable long-distance travel Build world's largest battery factory to meet our needs and reduce battery costs Expand into energy generation (solar) and storage to create a vertically integrated sustainable energy company Compensate our CEO only if other shareholders realize tremendous value Board is directly and regularly engaged with senior management, and participates in robust shareholder outreach and feedback Board members have significant experience as top-level executives at public companies or as entrepreneurs who founded successful organizations#3#4CEO/Director of 21st Century Fox & Top Executive at Related Companies CEO of Twenty-First Century Fox, Inc. Experienced chief executive who has scaled and run operations at large successful companies, including in global markets throughout Asia, Europe, and the Americas Board member at 21st Century Fox, Sky and News Corp. All entities used to be under the same company umbrella ● JAMES MURDOCH ● ● 21st Century Fox and Sky are still affiliated with one another Role as director of 21st Century Fox and Sky are tied to position as CEO of 21st Century Fox - part of his regular executive role in the company Because of the ongoing M&A activity at Fox, the 21st Century Fox and Sky boards likely will no longer exist within the next several months#5Co-Founder of The Kitchen CEO of The Kitchen, a company focused on sustainably produced food Successful entrepreneur and investor in technology and consumer-driven companies Zip2 Corporation The Kitchen Square Roots ● ● KIMBAL MUSK ●#6#7THE RESULTS: SIGNIFICANT SHAREHOLDER VALUE CREATION TOTAL SHAREHOLDER RETURN MARKET CAPITALIZATION ($B) 2500% 2000% 1500% 1000% 500% 0 $60B $50B $40B $30B $20B $10B O Jun 2010 $2.5 2010 Jun 2011 $3.0 2011 Jun 2010 $3.9 2012 Jun 2013 $18.4 2013 Jun 2014 $27.9 2014 Jun 2015 $31.4 2015 Jun 2016 $33.4 2016 Bager Jun 2017 $52.4 2017 - TSLA --- S&P 500 * MARKET CAPITALIZATIONS BASED ON INFORMATION AS OF THE END OF EACH YEAR