Xos SPAC Presentation Deck

Xos Battery Technology is Purpose-Built for the Commercial Market KEY FACTORS TO BE OPTIMIZED RANGE SIZE WEIGHT LIGHT DUTY PLATFORMS BASED ON AUTOMOTIVE ARCHITECTURE PRICE Variable use and consumer range anxiety leads to maximized total range Limited chassis space with larger pack (see above) drives maximum volumetric density Limited hauling requirements means weight is not a principle concern DURABILITY Low-impact driving & shorter life-cycles reduce concerns on durability & lifespan Customers are purchasing for luxury, so cost is not the primary selection criteria F XOS PURPOSE-BUILT MEDIUM- AND HEAVY-DUTY TRUCKS Highly predictable routes allow for battery designed for more limited range Significantly larger frame and smaller pack allows for reduced volumetric density Reduced weight is key as incremental weight reduces carrying capacity High-impact driving over long periods requires durable, long-lasting batteries Customers are purchasing primarily for savings so battery cost must be as low as possible Confidential and Privileged, Property of Xos, Inc. 24

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