Nikola Investor Day Presentation Deck

DURABLE MEAS FOR HD FCE TRUCKS DOE PROJECT I The goal of this project is to Reduce/eliminate crack formation during deposition/operation → improve durability Improve catalyst utilization → Use less PGM More effectively orient ionomer, reducing SO3 poisoning → better mass transport and ORR activity Accurately control pore-size distribution → better water management and mass transport Technology Improvement Targets: At high RH: Reduction in flooding from "macro" pores At low RH: Improvement in ionic conductivity from water condensation in primary pores MEA Design Approach Reference 2020 US DOE AMR Publication https://www.hydrogen.energ v.gov/pdfs/review20/fc326 murthi 2020 p.pdf BRRRRRRRR 250-500m Catalyst lonomer Void space 10 Primary pores will be more accessible in 80 core due to low ionomer coverage. 10 18 Percentage of primay pone volume to total pore volume (1) 30 Creative divity 0.00 0.07 0.00 10.04 Jom 0 0 GDL+MPL Catalyst Layer Georgia Tech Membrane There will be a larger percentage of "Macro" pores between spheres 100 200 300 Secondary pre determi 400 500 Northeastern University Catalyst Highly active and durable Pt alloy catalyst Physical/electrochemical Characterization Iterative MEA design NIKOLA CL/MEA Development MEA Performance and Durability Testing Carnegie Mellon Post-mortem analysis University Electrode synthesis OAK RIDGE National Laboratory Modeling Catalyst layer & MEA University parameter MEA Fabrication Carnegie Mellon -Los AlamosNREL (Conventional MEA fabrication/baseline only) MEA testing, component AST & characterization Los Alamos NREL CL/MEA physical analysis Carnegie Mellon University * Northeastern (Prof. Mukerjee): Dual IBAD technique to produce durable catalyst powders Georgia Tech. (Prof. Xia): Synthesize supported durable cuboctahedral PtCo catalyst Nikola: Novel durable CL/MEA structure (Nikola IP), to form layered structures of catalyst powders and ionomer CMU (Prof. Litster): Create CL transport models and recommend MEA formulation/optimization based on feedback from X-ray computed tomography and pFIB- SEM imaging

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