Nikola Results Presentation Deck

NIKOLA. PAGE/15 Q4 & FY 2022 OUTLOOK In Thousands Except Production, Deliveries, Gross Margin, Share, and per Share Data Tre BEV trucks produced (2) Tre BEV deliveries (units) Revenue Gross margin Research and development (3) Selling, general, and administrative (4) Stock based compensation (5) Capital expenditures Expected total shares outstanding as of 12/31/22 (6) Expected weighted average shares outstanding for the quarter and full year ended 12/31/22 (6) 1. FY 2022 Range equals YTD 9/30/22 actual plus Q4 2022 low/high range 2. FY 2022 Tre BEV trucks produced includes 10 pre-series trucks 3. Includes $5M for Romeo related R&D 4. Includes $25.5 M for Romeo related SG&A 5. SBC for Q4 2022: Nikola R&D $7M; Nikola SG&A $35M; Romeo SG&A $16M 6. Shares outstanding as of 9/30/2022 plus estimated employee stock option exercises, restricted stock unit distributions, and Romeo merger consideration Q4 2022 Range Low 120 -280% $82,500 $85,000 High $30,000 170 $58,000 -240% $87,500 $90,000 $40,000 490,500,000 479,400,000 FY 2022 Range (1) Low 255 $286,846 $374,916 High $148,432 305 $291,846 $269,214 $379,916 $158,436 490,500,000 439,700,000

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