Proterra SPAC Presentation Deck

PROTERRA TECHNOLOGY Battery System: Continuous Research and Development Excellence Next Generation Battery Targeting Commercial Vehicle Powertrain Cost Parity by Mid-Decade Confidential Next Generation 2022 5th Generation 2021 4th Generation 2017 3rd Generation April 8, 2021 S Significant Increase in Scale to 5+ GWh SERIES 7777 HELM H SERIES First to Market with NCM 811 18650 Cells Pursue Investment in Dedicated Domestic Cell Capacity 10% increase in Energy Density Higher Energy Density 2170 Cells New Core Single Module Architecture Vertical Integration of Sub-Components Flexible Module Platform (7 Variants) Ramp of Team Testing, and Integration 1 As compared to the 2nd generation battery Continued Module Design Enhancement Greater Scale and Continued Learning Curve 20%+ estimated cost reduction 80%+ cost reduction 1 Deepening of Vertical Integration of Electrical Components 20%+ estimated cost reduction PROTERRA 25%+ estimated cost reduction Battery Program Guiding Principles Increase Energy Density Lower Costs Further Advance Safety Leadership 47

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