Nikola Results Presentation Deck

PAGE NIKOLA FINANCIAL OVERVIEW In Thousands Except Share and per Share Data Solar revenues (1) 123 Cost of solar revenues Gross profit Operating expenses: Research and development Selling, general, and administrative Total operating expenses Loss from operations Interest income (expense), net Loss on forward contract liability. Revaluation of warrant liability Other income, net Loss before income taxes and equity in net loss of affiliate Income tax expense Loss before equity in net loss of affiliate Equity in net loss of affiliate Net loss. Net loss per share, basic Net loss per share, diluted (2) Weighted-average shares outstanding, basic Weighted-average shares outstanding, diluted (3) SOGE Q1 2021 ΤΑ $- $ 55,163 65,427 $120,590 ($120,590) (9) 951 219 (119,429) 1 (119,430) (794) ($120,224) ($0.31) ($0.31) 392,189,851 392,489,761 Q1 2020 $58 43 $15 24,077 7,935 $32,012 ($31,997) 62 (1,324) 114 (33,145) 1 (33,146) To date, we have primarily generated revenue from services related to solar installation projects that are completed in one year or less. Solar installation projects are not a part of our primary operations and were concluded in 2020 Calculated by dividing net loss, adjusted for the revaluation of warrant liability, by weighted average number of common shares outstanding, diluted Weighted average shares outstanding, diluted is adjusted for dilutive effect of assumed exercises of private warrants TRUCK UPDATES ULM FACILITY UPDATE COOLIDGE FACILITY UPDATE RIG360 ($33,146) ($0.12) ($0.12) 271,896,258 271,896,258 Q1 2021 RESULTS Q2 & FY 2021 OUTLOOK APPENDIX

View entire presentation