Nikola Results Presentation Deck

1 3 // 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 Impairment expense Total operating expenses Loss from operations Net loss 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 Income tax expense (benefit) 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) Q4 2021 $- $- 91,166 71,547 $162,713 ($162,713) (262) 144 3,928 (158,903) (158,903) (513) ($159,416) ($159,416) ($0.39) ($0.39) 407,448,311 407,448,311 Q4 2020 $ - $ 67,521 64,903 14,415 $146,839 ($146,839) (53) 4,860 (597) (142,629) (1,030) (141,599) (637) ($142,236) ($142,236) ($0.37) ($0.38) 385,983,645 386,323,048 FY 2021 $ 292,951 400,575 $693,526 ($693,526) (481) 3,051 4,102 (686,854) 4 (686,858) (3,580) ($690,438) ($690,438) ($1.73) ($1.74) 398,655,081 398,784,392 FY 2020 $95 72 $23 185,619 182,724 14,415 $382,758 ($382,735) 202 (1,324) 13,448 (846) (371,255) (1,026) (370,229) (637) ($370,866) (13,407) ($384,273) ($1.15) ($1.18) 335,325,271 335,831,033 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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