Elms SPAC Presentation Deck

Capital-Efficient Business Model To Deliver Two Vehicle Models ($ in millions) $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 At Least $1.6 Billion OpEx and G&A Supplier Tooling Product Engineering Plant Tooling Plant Typical New Entrant In N.A. Market ~$45M Capital Expenditures ng Plant and Equipment Purchases Source: Public sources and/or management estimates. Estimated Vehicle Project Investment Needs $160 Million Third-Party Investments to Date ~$70M Engineering Engineering and Software Development ELMS' Anticipated Launch Cost Is A Fraction Of Competition 41 ELMS Launch Cost ..... Personnel and G&A Go to Market ELMS ELECTRIC LAST MILE SOLUTIONS ~$45M Operating and G&A Expenses

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