Nikola Results Presentation Deck

NIKOLA. PAGE / 17 RECONCILIATION TO NON-GAAP MEASURES In Thousands Net Loss Interest expense, net Income tax expense Depreciation and amortization EBITDA Stock-based compensation Revaluation of warrant liability Revaluation of derivative liability Equity in net loss of affiliates Regulatory and legal matters Adjusted EBITDA Q1 2022 ($152,941) 211 3,111 ($149,619) 53,528 434 (437) 2,820 14,122 ($79,152) Q1 2021 ($120,224) 9 1 1,805 ($118,409) 50,266 (951) 794 14,866 ($53,434)

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