Lion Electric Investor Presentation Deck

Lion Campus - Battery Plant and Innovation Center Located in Mirabel, QC, near our existing manufacturing footprint Completed 100% of the steel structure for the battery plant building Large 1.6M ft² site with exclusive access to runway for vehicles testing and ample room for future expansion ■ ■ ■ 8 21700 cylindrical cell-based battery production Partnership with Ricardo for development of custom module ■ H ■ I Working with JR Automation (Hitachi) on conception tests for the commercial module production line, which will first be installed and commissioned at JR Automation's facility, and ultimately transferred to our Mirabel battery plant ■ L Innovation Center to focus on R&D: new advancements in performance, range, energy capacity and the development of innovative products (includes climate testing/battery destruction rooms) Completion planned for 2023 Retained an advisor to explore a potential sale-leaseback of the battery building Upcoming Milestones: Factory acceptance test of the commercial module production line at JRA's facilities ▪ Substantial completion of the battery plant building Site acceptance test of the commercial module production line at our battery plant Remain on-track to produce first modules and packs out of the Mirabel battery plant in H2 2022 Rationale L ■ Completed installation of prototype module line at JR Automation's facility in Troy, Michigan Produced first prototype pack, which is undergoing testing Producing additional prototype packs for testing purposes Projected Cost Savings Through Further $ Vertical Integration Significant improvement in Battery Cost Flexibility to Adapt to Emerging Battery Technologies Increased design flexibility and strong positioning for first-mover advantage with disruptive technologies (e.g., solid state) Increasing Supply Alternatives Management of potential cell shortage, many tier 1 OEM can supply 21700 cell technology Control Over Battery Design to Optimize Specifications Full control over battery specs, optimized for Lion vehicle platforms, optimal EV weight and balance including increased onboard kwh Battery Plant Adhesive Dispense Stations Cell Load Matrix Curing Press Total Estimated Project Cost of $180M ($100M in 2022) Lill m -$22M Spent to Date ASETAX Wire Bonding Process Laser Cleaning 00 Prototype Lion Module Prototype Lion Pack Additional ~$64M Engaged JEDE LION ELECTRIC

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