Nikola Results Presentation Deck

NIKOLA. PAGE / 11 FINANCIAL OVERVIEW In Thousands Except Share and per Share Data Revenues: Truck sales Service and other (1) Cost of revenues: Total revenues Truck sales Gross loss Service and other (1) Net loss. Total cost of revenues Operating expenses: Research and development Selling, general, and administrative Total operating expenses Loss from operations Interest expense, net Revaluation of warrant liability Other income (expense), net Loss before income taxes and equity in net loss of affiliates Income tax expense Loss before equity in net loss of affiliates Equity in net loss of affiliates Net loss per share, basic Net loss per share, diluted (2) Weighted-average shares outstanding, basic Weighted average shares outstanding, diluted (3) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 55,163 65,427 120,590 (120,590) (9) 951 219 (119,429) 1 (119,430) (794) ($120,224) ($0.31) ($0.31) 392,189,851 392,489,761 $ 67,726 70,672 138,398 (138,398) (92) (2,511) (1,102) (142,103) 2 (142,105) (1,126) ($143,231) ($0.36) ($0.36) 394,577,711 394,577,711 1. Service and other revenues and cost of revenues represents the sale of Nikola MCTs 2. Calculated by dividing net loss, adjusted for the revaluation of warrant liability, by weighted average number of common shares outstanding, diluted 3. Weighted-average shares outstanding, diluted does not include RSUS or employee stock options since the company is in a net loss position 78,896 192,929 271,825 (271,825) (118) 4,467 1,057 (266,419) 1 (266,420) (1,147) ($267,567) ($0.67) ($0.68) 400,219,585 400,230,669 $ 91,166 71,547 162,713 (162,713) (262) 144 3,928 (158,903) (158,903) (513) ($159,416) ($0.39) ($0.39) 407,448,311 407,448,311 1,887 1,887 1,456 1,456 431 74,557 77,183 151,740 (151,309) (211) (434) 1,833 (150,121) (150,121) (2,820) ($152,941) ($0.37) ($0.37) 415,152,656 415,152,656 Q2 2022 $ 17,383 751 18,134 46,781 610 47,391 (29,257) 63,106 79,868 142,974 (172,231) (2,808) 3,341 (27) (171,725) 2 (171,727) (1,270) ($172,997) ($0.41) ($0.41) 425,323,391 425,323,391

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