Lion Electric Investor Event Presentation Deck

Vehicle Manufacturing Facility in Joliet, Illinois 42 CAPEX • Vehicle manufacturing facility ● ● ● expected total capex of US$130mm Total project costs include: o Equipment and installation o Facility commissioning Capex spend is expected to accelerate starting Q4 2021 FUNDING Bulk of funding expected to come from cash on hand, supported by a number of government incentives Lion has qualified Illinois' EDGE incentive program ● ● CON LION ● o Supports growth projects through payroll tax credits Lion also qualified for the High Impact Business ("HIB") incentive program, which provides support through tax abatements Also assessing a number of additional funding programs at state and federal levels LION ELECTRIC

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