Nikola SPAC Presentation Deck

TECHNOLOGY PORTFOLIO ADDRESSES COMPLEMENTARY USE CASES GENERAL TECHNOLOGY COMPARISON PRIMARY POWER UNIT (PPU) REFUEL/CHARGE TIME EST. RANGE REFILL AFFECT ON ELECTRICAL GRID PPU SUSTAINABILITY PROFILE IMPACT ON EMISSIONS EST. VEHICLE WEIGHT EST. HAULING CAPACITY (1) H₂ HYDROGEN-ELECTRIC Hydrogen Fuel Cell 10-15 minutes 500-750 miles (Long-haul) Hydrogen stations act as buffer & balance grid Hydrogen is the most abundant element on planet Zero emission vehicle ~22,000-24,000 lbs ~56,000-58,000 lbs Complementary Use Cases 1. Estimated hauling capacity includes both cargo capacity and the weight of the trailer Nikola is the only company offering both BEV and FCEV solutions; addressing both short-haul and long-haul markets 8 100% BATTERY ELECTRIC Battery Several Hours 100-300 miles (Medium-/Short-haul) Recharge to be managed within grid load capacity Dependent on further advances in technology Zero emission vehicle ~25,000-27,000 lbs ~53,000-55,000 lbs DIESEL Diesel Engine 10-15 minutes 500-750 miles N/A Access to oil reserves can be costly and prices are highly volatile Heavy emission vehicle unlikely to adhere to future regulations on emissions standards ~17,000-19,000 lbs ~61,000-63,000 lbs N 13

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