Nikola SPAC Presentation Deck

EXPECTED SALES VOLUMES & PLANT UTILIZATION VOLUMES DO NOT INCLUDE POTENTIAL INCREMENTAL UPSIDE FROM 50/50 EUROPE JV BEV SALES VOLUME # OF VEHICLES) . "600 2021 1,200 2022 3,500 2023 Expected to reach full utilization in 2028 NIKOLA TRE 15,000 Full plant production First BEV truck sales expected in 2021 Sales based on number of trucks produced in period and an average time in inventory of "9 days It is expected that plant will reach full BEV capacity in 2028, producing "15,000 trucks per annum Nikola expects to reach full plant utilization for BEV and FCEV production by 2028 and 2027, respectively FCEV SALES VOLUME (# OF VEHICLES) . . 0 2022 "2,000 2023 NIKOLATWO "5,000 2024 ILLUSTRATIVE PURPOSES ONLY; ACTUALS MAY VARY Expected to reach full utilization in 2027 NIKOLA TRE "30,000 Full plant production First FCEV truck sales expected in 2023 Sales based on number of trucks produced in period and an average time in inventory of "9 days FCEV volumes expected to exceed BEV volumes in 2026 Plant expected to reach full FCEV capacity in 2027, producing "30,000 trucks per annum 43

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