Proterra SPAC Presentation Deck

TRANSACTION SUMMARY ...Yet Attractive Valuation Relative to Current Trading Levels Valuation Benchmarking vs. Mobility Technology SPAC Transactions Enterprise Value / 2022E Revenue At Announcement / Current Trading (x) Announcement Median: 3.9x 3.6x PROTERRA January 2021 Current Trading Median: 9.3x 35.5× 6.9x 27.4x 11.1x 2 -chargepoin+ ² NNIKOLA³ 3 15.9x 5.3x * ΑΓΓΙVAL 9.6x 3.9x XLFleet I 9.3x I 5.6x CANO0 6.4x 3.2x ⒸHYLIION 6.1x 2.3x At Announcement THE LION ELECTRIC CO 5.6x 2.4x ROMEO POWER TECHNOLOGY PROTERRA Source: Capital IQ, Company materials 1. Market data and Refinitiv median estimates from Capital IQ as of January 8, 2021; for those companies that have not yet completed the deSPAC process, enterprise value calculated using market capitalization (equal to pro forma shares outstanding times SPAC's current share price) plus net debt as disclosed in transaction announcement materials; all use at announcement 2022E revenue except Nikola 2. ChargePoint approximate calendar year (actual fiscal year ends January 31st) 3. Nikola current trading multiple based on 2022E Refinitiv median estimate revenue Note: Refer to Disclaimer on pages 2 and 3 regarding forward-looking statements and use of projections Current Trading ¹ 1 1.7x 0.6x LORDSTOWN. 49

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