Investor Presentation December 2023

Strong Regulatory Tailwinds $5 Billion EPA Clean School Bus Program 2023 GRANT PROGRAM 2023 REBATE PROGRAM • $400M in expected funding $500M in expected funding Up to $395K per bus + charging infra. • Up to $345K per bus + charging infra. Applications closed in August • Applications deadline in Jan 2024 Awards expected Q1 2024 • Notification of selection in April 2024 Contined Momentum at State/Provincial Level Increasing number of states and provinces passing laws mandating transition to zero-emission school buses •⚫ Attractive subsidy programs at state and provincial levels supporting fleet electrification in school buses and trucks • Renewal of Quebec school bus subsidy program, with maximum funding increased from $125K to $175K per bus p.13 2024-2026 FUNDING • Additional $3B expected to be allocated over 2024-2026 SCHOOL BUS LIONCE Numerous incentive programs and regulatory initiatives targeting fleet electrification for medium- and heavy-duty vehicles LION ELECTRIC

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