Nikola SPAC Presentation Deck

DEDICATED FCEV FLEET ROLL OUT CASE STUDY ANHEUSER-BUSCH (AB) Initial site selection determined based on customers' dedicated routes AB PILOT STATION • Currently working with Nel to build 8-ton hydrogen station near the Anheuser-Busch brewery in Van Nuys, CA Station capable of producing 8,000 kgs of hydrogen per day Station expected to be fully commissioned in 2022 • Fleet Test Beta Trucks with AB Starting mid-2021 utilizing Phoenix hydrogen station until Van Nuys station complete in 2022 * Brewery Locations ✰ Distribution Centers NIKOLA 1106 Van Nuys, CA ANHEUSER-BUSCH STATION LOCATIONS • AB to convert entire distribution fleet (approx. 800 trucks) to Nikola trucks • AB has 12 breweries and 6 distribution centers located across the United States . Nikola anticipates developing a hydrogen station near each brewery location to provide access to each distribution center . - Additional stations may be developed at certain distribution centers depending on the roundtrip length of the lane

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