Elms SPAC Presentation Deck

ELMS Anticipates the Lowest Total Cost of Ownership (TCO)¹ vs. Segment Leading Gas Vehicles + Class 1 Leader $25,000 I TCO per Mile Cu.ft.: $ per 100 miles $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Vehicle Cost ELMS Urban Delivery Year 0 $25,000* Year 1 Class 2 Leader Year 2 Class 2 Current Leader $34,510 Class 1 Leader $0.26 $0.21 TCO Year 3 (1) vs. Class 1 and 2 gas vehicles in market. Management statements and assumptions on this page based on data and vehicle specifications from public sources and/or management estimates. Figures subject to change based on final design. *Price net of $7,500 Federal Tax Credit; 25,000 miles per year; $2.50/gal. $0.13/kWatt; Differential Maintenance Costs of Brake Service, Engine and Transmission Oil Changes Year 7 ELMS Urban Delivery Year 4 Year 5 Class 1 Current Leader Cumulative TCO Savings, 25k Annual Miles and Residual Values after 8 Years 23 Operating Cost Class 1 Leader $2,500 $1,500 $4,000 Annual Energy Costs Year 6 Maintenance Total ELMS Urban Delivery $0.17 $0.10 Lowest TCO $19,000 Cost Savings Year 8 Residual Sales ELMS Urban Delivery $1,050 $500 $1,550 $36,000 Cost Savings .**||... ELMS ELECTRIC LAST MILE SOLUTIONS ..... Urban Delivery ELMS ELECTRIC LAST MILE SOLUTIONS Class 2 Leader $0.35 $0.14 Class 2 Leader $3,676 $1,500 $5,200

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