Nikola Investor Day Presentation Deck

7 8 PAGE VTOMIN EXECUTIVE COMPENSATION STRATEGY ALIGNED TO SHAREHOLDERS RISK REFLECTED $1 Executives make $1 cash a year All other compensation is stock, creating a 99:1 at-risk pay ratio LONG-TERM ORIENTED 3 Executive annual stock awards cliff vest after 3 years Encourages long-term thinking and decision making SHAREHOLDER ALIGNED Executive performance awards are tied to shareholder gains in the form of stock prices hurdles ($25, $40, $55) Only earned if prices are met and maintained for a specified period

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