Xos SPAC Presentation Deck

Use of Transaction Proceeds $515 Million Net Cash Proceeds GROWTH TECH & ENGINEERING $140MM $140MM $40MM $35MM $105MM $55MM Build out of automated flex battery assembly lines Build out of flex vehicle assembly lines Scaling business development and corporate overhead Additional growth investment and opportunities Engineering and R&D for continued fleet-as-a-service expansion Battery, Chassis and Cab tooling for product engineering Expected Timing 2021-2024 2021-2024 2021-2023 2021-2023 2021-2023 2021-2024 Confidential and Privileged, Property of Xos, Inc. 34

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