Nikola Results Presentation Deck

1 2 PAGE NIKOLA FINANCIAL OVERVIEW In Thousands Except Share and per Share Data Solar revenues (¹) Cost of solar revenues Gross profit Operating expenses: Research and development Selling, general, and administrative Total operating expenses Loss from operations Interest income (expense), net Loss on forward contract liability Revaluation of warrant liability Other income (expense), net Loss before income taxes and equity in net loss of affiliates Net loss Income tax expense Loss before equity in net loss of affiliates Equity in net loss of affiliates Premium paid on repurchase of redeemable convertible preferred stock Net loss attributable to common stockholders Net loss per share, basic Net loss per share, diluted (2) Weighted-average shares outstanding, basic Weighted-average shares outstanding, diluted (3) Q3 2021 $- $- 78,896 192,929 $271,825 ($271,825) (118) 4,467 1,057 (266,419) 1 (266,420) (1,147) ($267,567) ($267,567) ($0.67) ($0.68) 400,219,585 400,230,669 Q3 2020 $- $ 51,496 65,782 $117,278 ($117,278) 171 37,745 (340) (79,702) 2 (79,704) ($79,704) ($79,704) ($0.21) ($0.31) 377,660,477 378,286,678 Q3 2021 YTD $- $- 201,785 329,028 $530,813 ($530,813) (219) 2,907 174 (527,951) 4 (527,955) (3,067) ($531,022) ($531,022) ($1.34) ($1.35) 395,691,795 395,860,876 Q3 2020 YTD $94 73 $21 118,098 117,821 $235,919 ($235,898) 255 (1,324) 8,588 (249) (228,628) 4 (228,632) ($228,632) (13,407) ($242,039) ($0.76) ($0.79) 318,315,891 318,976,447 1) In 2020 we primarily generated revenue from services related to solar installation projects that are completed in one year or less. Solar installation projects are not a part of our primary operations and were concluded in 2020 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

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