Lordstown Endurance Investor Presentation

Market: Large TAM - Secular Tailwinds for EVs & Trucks Strong Demand (1) >100,000 ~580 unit • Pre-Orders Avg. Order Large Total Addressable Market Annual Total US Sales Figures ~12MM(2) US light duty vehicles ~3MM Total US pickups ~1.3MM Total US Fleet pickups ~$600B Light Duty US Market ~$150B Total Pickup US Market ~$65B Fleet Pickup US Market • Market Highlights Pickup truck market is the most profitable segment of the auto industry Highly attractive fleet market: . • . . No complex retail sales network Large order volumes with sticky contracts across industries Highly underserved market with no EV- focused competitors targeting the space Competitive in critical metrics fleet buyers emphasize, including total cost of ownership (TCO) Significant Endurance interest from governmental agencies, many of which have no EV options • 80% of fleet customers surveyed have expressed a preference for the Endurance versus traditional vehicles • Potential to Enter SUV market longer-term Source: Public sources, third-party analysis, and management estimates. Note: Market sizes for US. Assumes average vehicle price of $50,000 (1) As of early January 2021. Note that orders are non-binding, (2) Light duty includes SUV, CUV and Pickup Trucks Investor Presentation | January 2021 10

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