Lordstown Endurance Investor Presentation

· • Modest Facility Retooling Needs ~$120MM Modest retooling + reconfiguration needs, but greater vehicle Estimated Investment Stamping New soft tooling for three presses required for production The remaining four presses could be removed and sold at auction demand means we are likely to expand the plant Body Shop Minimal investment required in new fixtures, welding tools, and a truck box robotic cell $32MM • . Paint Equipment in place and sufficient in size to manufacture Endurance Converting paint line from dry powder coating to "wet on wet" paint $16MM • Battery Packing Hub Motor Manufacturing Reconfiguration • Electric in- • wheel hub motor of area above final assembly to create a battery packing assembly line New robot tooling and quality & test equipment required $27MM production line requires purchase of additional CNC machines, tooling, and quality and test equipment $23MM General Assembly Existing state- of-the-art skillet conveyor system large enough for Endurance; only minimal modifications required $14MM Estimated Investment Estimated Estimated Investment $3MMM Estimated Investment Other ~$5MM Estimated Investment Estimated Investment Estimated Investment Investment Physical infrastructure, security, and IT infrastructure are in place and in good working condition requiring only marginal investment Source: Management estimates Investor Presentation | January 2021 23

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