Nikola Results Presentation Deck

1 6 PAGE NIKOLA FINANCE | FEDERAL INCENTIVES Potential H2 Production Tax Credit (1) ● WHAT Clean Hydrogen Production Tax Credits Part of the proposed $1.75T reconciliation bill Credit is based on the number of kg of qualified clean H₂ produced at a qualified clean H₂ production facility beginning in 2022 Applies for a 10-year period beginning on the date the hydrogen production facility is placed in service INCENTIVE Up to $3 per kg multiplied by applicable % Applicable % is determined by the lifecycle GHG emissions rate achieved in producing clean H₂(¹): O Lifecycle GHG emissions of < 6kg and > 4kg, applicable % is 8.4 Lifecycle GHG emissions of < 4kg and > 2.25kg, applicable % is 20 O Lifecycle GHG emissions of < 2.25kg and > 1.5kg, applicable % is 33.4 Lifecycle GHG emissions of < 1.5kg and > 0.45kg, applicable % is 50 Lifecycle GHG emissions of < 0.45kg, applicable % is 100 1. House and Senate to finalize provisions and budget for the reconciliation package 2. 3. 4. NEXT STEPS Final vote to be scheduled for bipartisan infrastructure bill in the House and sent to President Biden for signature Congress to schedule votes for reconciliation package and send to President Biden for signature Goal is for President to sign one or both bills into law by year-end 1) Applicable % subject to change; Applicable % as reflected in most recent text provided by the House Rules Committee and pending further discussion as of 10/28/2021

View entire presentation