Proterra Investor Presentation Deck

Buses → Medium-Duty Trucks → Long-Haul Commercial Vehicles Are Electrifying at Different Paces Based on Duty Cycles and Regulations 2025 forecasts for new vehicle sales in » ~3K U.S. and Europe 9% TE ELECTRIC 50% Löddat 1000 UD Transit Buses 1 >10K 1% 30% FRUIERKA School Buses 2 >26K <1% VOLTA ZERO 8% VOLTA V270 290 Medium-Duty Trucks 3 2020 2025 PROTERRA Battery electric as % of new vehicle sales ~25K <1% Electric commercial vehicle forecasts imply potential battery demand in U.S. and Europe of >25 GWh in 20254 1. North America only. 2020 data from The International Council on Clean Transportation and Metro Magazine; 2025 forecast from Frost & Sullivan's "Global Electric Bus Market Opportunity Analysis, 2017-2025" report 2. North America only. 2020 data from The International Council on Clean © 2022 Proterra. All Rights Reserved. Transportation and School Bus Fleet; 2025 forecast from Canaccord Genuity's March 8, 2022 Lion Electric initiation report 4% Heavy-Duty Trucks 3 3. North America and Europe. Morgan Stanley's April 5, 2022 report, "Zero- Emissions Truck Penetration Refresh 4. North America and Europe. Management estimate based on Morgan Stanley's penetration forecasts from April 5, 2022 report, "Zero-Emissions Truck Penetration Refresh" and assume average battery size/vehicle of 225 kWh for medium-duty, 300 kWh for buses and 750 kWh for heavy-duty

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