Nikola Investor Day Presentation Deck

5 4 PAGE VTOMIN NIKOLA "SUPPLY CO." ILLUSTRATED ILLUSTRATIVE PURPOSES ONLY; SUBJECT TO CHANGE H₂ PRODUCTION SPV's AL CUSTOMER May refuel at any station in Nikola network VO Nikola Energy Supply & Trading (ES&T) "Supply Co." PROCURES from any number of production facilities 0000 SELLS into any number of dispensing stations Nikola Responsible for DISTRIBUTION Nikola H₂ Margin comes via "Supply Co" # of H₂ kgs x margin per kg H₂ H₂ H₂ H₂ DISPENSING SPV's ㅜㅜ ㅜㅜ ㅜㅜ

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