Xos SPAC Presentation Deck

Xos at A Glance Products in Service S CELO Ups RE Battery Electric Vehicle ✪ TESSEMAE'S COMPANY OVERVIEW ● Battery-electric mobility provider of purpose-designed and built vehicles and solutions specifically for commercial fleets. ● Focus on medium- and heavy-duty last mile and return-to-base segments. ● Vehicles currently in production and in regular on-road operations with key fleet customers. Proprietary, proven and low-cost sustainable technology. ● Highly experienced management and engineering. VEHICLE DELIVERY PROJECTIONS (2) 116 2,007 8,715 20,427 33,674 2024E FLEET-AS-A-SERVICE X-PLATFORM Xos ENERGY 50,000+ Vehicle eCommerce Fleet 17 UniFirst 2020E 2021E 2022E 2023E 2025E (1) Company contracted with UPS beginning in 2018 for the acquisition of vehicle units. Company additionally entered into a non-binding letter of intention with UPS in Q1 2021 for the purchase of Xos vehicle units. Associated with Elemental Excelerator program and expected to place contract in Q1 2021. KEY CONTRACTED CUSTOMERS Thompson CAT VEHICLE SERVICE FLEET MANAGEMENT ups SV LONESTAR ELECTRIC 1 LOOMIS X-LEASE /dL 85,000+ Vehicle Delivery Fleet SOUTHERN CALIFORNIA EDISON WIGGINS 2 Confidential and Privileged, Property of Xos, Inc. 9

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