Nikola SPAC Presentation Deck

PRODUCTION TIMELINE OVERVIEW PRODUCTION FOR U.S. MARKET COMMENTARY GO-TO-MARKET European production for US. U.S. production for U.S. TARGET CUSTOMERS SALES CHANNEL MARKETING CHANNEL 2020 BEV initially produced in Europe for the U.S. market 2H 2020 STRATEGIC FLEET OWNERS SOCIAL MEDIA/EXPO 2021 BEV SOP AT IVECO'S FACILITY INULM. GERMANY NIKOLA MANAGED STRATEGIC SALES COOLIDGE PHASE I BEV PRODUCTION START IN EUROPE BEV Production for the U.S. market expected to start up in 1H 2021, followed by planned FCEV production start in Q1 2023 BEV SOP AT NIKOLA'S COOLIDGE FACILITY 2022 BEV PRODUCTION START IN U.S. MASS MEDIA COOLIDGE PHASE II DEVELOPMENT LARGE INVESTMENT GRADE U.S. FLEET OWNERS FCEV SOP AT NIKOLA'S COOLIDGE FACILITY DIRECT SALES AND SALES THROUGH THIRD PARTIES 2023 H₂ FCEV PRODUCTION START COMPLETION OF COOLIDGE FACILITY ICAPACITY OF 50 DOD TRUCKSP.A) Nikola expects to initially leverage existing Iveco facility in Ulm, Germany, before moving production to Coolidge, AZ, U.S. with phase I development expected finished by end of 2021 41

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