Xos SPAC Presentation Deck

A New Mobility Ecosystem Is Emerging TRUCKS LARGEST PER CAPITA CONTRIBUTORS TO GREENHOUSE GASES GHG EMISSION SOURCE % OF TRANSPORTATION (2018) ● ● 41% TRUCKS 41% CARS 9% 2% AIRCRAFT RAIL 2% BOAT Trucks in the US emit as much Greenhouse Gas ("GHG") as cars, with less than 45% as many miles driven, producing over 750 million tons of GHG in the US annually. Regulation is intensifying as a result. Source: US Environmental Protection Agency. Almost twenty countries have made commitments to phase out fossil fuel use vehicles by 2040. 15 U.S. States have committed to transition to zero-emission vehicles, led by California. California has issued an executive order requiring 100% of truck sales to be zero-emission by 2035 and has targeted 100% of trucks on the road to be zero-emission by 2045. IMPERATIVE FROM GOVERNMENTS, INVESTORS, AND CUSTOMERS OPRU FICE OF OCED прахз On achieving a carbon-free power sector by 2035 and a net-zero economy by 2050 "The federal government also owns an enormous fleet of vehicles, which we're going to replace with clean electric vehicles... in America with American workers." Joseph R. Biden, President of the United States BlackRock On asking all boards to disclose a plan to be compatible with a net-zero economy "We believe the climate transition presents a historic investment opportunity. [Blackrock will be] launching investment products... aligned to a net zero pathway." Larry Fink, Chairman and CEO ups On investing $450mm to expand its alternative fuel vehicle fleet and infrastructure "UPS continues to expand and improve our smart logistics network... we intend for 25% of our vehicles purchased in 2020 to run on alternative fuels." Juan Perez, Chief Information and Engineering Officer amazon On co-founding The Climate Pledge, a commitment to be net zero carbon by 2040 "We're done being in the middle of the herd on this issue - we've decided to use our size and scale to make a difference." Jeff Bezos, Founder, Chairman and CEO Confidential and Privileged, Property of Xos, Inc. 12

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