Nikola Results Presentation Deck

NIKOLA. PAGE /7 IRA & INCENTIVES (1,2) Relevant Incentives Available to Nikola ● ● AL PRODUCTION Clean Hydrogen Production Tax Credit (45V): Up to $3.00 / kg Carbon Sequestration Credit (45Q): Up to $1.00/ kg Investment Tax Credits (48): promotes the development of renewable electricity projects that provide zero- carbon electricity used in the production of hydrogen via electrolysis Investment Tax Credit (48D): benefit various critical parts of the hydrogen manufacturing process, including hydrogen storage, by up to 30% of the eligible investment ● C 1) Subject to change; Subject to successful application and approval 2) Credit utilization and stacking is subject to limitations 3) Subject to LCFS credit trading price 4) 5) Currently there is a 100% multiplier for FCEV allowing up to $240,000 voucher / FCEV truck Subject to change DISPENSING Alternative Fuel Refueling Property Credit (30C): Up to $100,000 per dispensing equipment item California LCFS Credits: $1.00 - $2.00 / kg dispensed (3) ● ● ● TRUCK Advanced Energy Project Credit (48C): The expansion of our Coolidge, AZ Manufacturing may benefit for up to a 30% credit through a $10 billion grant Advanced Manufacturing Production Credit (45X): $10/kWh for producing battery modules Commercial Clean Vehicle Credit (45W): $40,000/ truck California HVIP: Up to $150,000/ truck (4,5) New York TVIP: Up to $185,000 / truck

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