Nikola Investor Day Presentation Deck
89
PAGE
VTOMIN
ILLUSTRATIVE IMPACT OF H₂ INCENTIVES
"Supply Co." captures benefits of tax or monetized credits through value chain through increased margins
ILLUSTRATIVE PURPOSES ONLY; SUBJECT TO CHANGE
PRODUCTION SPVs
AL
PRODUCTION
TAX CREDITS
# of eligible kgs produced
X Credit $/kg H₂ Produced
PRODUCTION TAX CREDITS
Offsets costs of production
Allows lower sales price to "Supply Co."
Lowers Molecule Cost to "Supply Co."
1) Presence of LCFS credits will likely result in higher price/ kg purchased from "Supply Co."
NIKOLA
"Supply Co."
Optimize Margin at "Supply Co."
BUNDLED LEASE
TOOL
LCFS CREDIT
~40%
DISPENSING SPVs
ㅜㅜ
# of eligible kgs dispensed
X Credit $/kg H₂ Dispensed
LCFS CREDITS
~50%
9
~10%
Higher Price/kg Sold into Dispensing Stations (1)
Increases Molecule Revenue to "Supply Co."View entire presentation