Investor Presentation December 2023

Order Book (1) (As of November 6, 2023), Electric Vehicles 2,232 EVS/~$525M Total Order Book 1,964 ] All-Electric Buses 268 All-Electric Trucks LionEnergy ~$4M Total Order Book 129 Charging stations and related services Select School Bus Clients S STUDENT TRANSPORTATION OF AMERICA First Student national express LANGS BUS LINES LIMITED TwinRivers IFIED SCHOOL DISTRICT AUTOBUS SÉGUIN AUTOBUS Wabaunsee USD 329 Home of the Chargers Zum CAMPEAU BUSLINES Select Truck Clients Transport Canada C&S Wholesale Grocers Canada Hydro Québec GREEN MOUNTAIN POWER transdev Highland Celebrating MillionMiles Driven Keolis Pellston Public School ATLANTA PUBLIC SCHOOLS ANGELES UNIFI LE GROUPE BOARD 09.16 b of EDUCATION TRANSBUS (TRANSPORT SCOLAIRE. SPECIALISE. NOLISE ET URBAIN) R ROBERT DOLLARAMA Blus simons Bolt DAY ROSS EconEdison DEMERS AMBULANCES PRIDE Grou ENTERPRISES amazon amazon The BRICK CN familiprix CANADA POST POSTES CANADA Sobeys inc. IKEA 1) As of November 6, 2023. The Company's vehicle and charging stations order book is determined by management based on purchase orders that have been signed, orders that have been formally confirmed by clients or products in respect of which formal joint applications for governmental programs, subsidies or incentives have been made by the applicable clients and the Company. The order book is expressed as a number of units or a total dollar value, which dollar value is determined based on the pricing of each unit included in the order book as further explained below under the section entitled "Pricing in section 10.0 of the Company's MD&A for the three and nine months ended September 30, 2023 entitled "Order Book". The vehicles included in the vehicle order book as of November 6, 2023 provided for a delivery period ranging from a few months o the end of the year ending December 31, 2026, with substantially all of such vehicles currently providing for deliveries before the end of the year ending December 31, 2025. In addition, substantially all of the vehicle orders included in the order book are subject to the granting of governmental subsidies and incentives, including programs in respect of which applications relating to vehicles of Lion have not yet been fully processed to date. The processing times of governmental programs, subsidies and incentives are also subject to important variations. There has been in the past and the Company expects there will continue to be variances between the expected delivery periods of orders and the actual delivery times, and certain delays could be significant. Also, there has been in the past and the Company expects there will continue to be variances in the eligibility criteria of the various programs, subsidies and incentives introduced by governmental authorities, including in their interpretation and application. Such variances or delays could result in the loss of a subsidy or incentive and/or in the cancellation of certain orders, in whole or in part. See section 10.0 of the Company's MD&A for the three and nine months ended September 30, 2023, entitled "Order Book" for a full description of the methodology used by the Company in connection with the order book and certain important risks and uncertainties relating to such methodology and the presentation of the order book. p.14 ⑦LION ELECTRIC

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