Investor Presentation December 2023

Lion Campus - Battery Plant and Innovation Center Highly-automated battery plant and Innovation Center, located in Mirabel, near existing manufacturing footprint Equipment currently in place for annual production capacity of 1.7 GWh (enough to power ~5,000 vehicles) and estimated maximum annual capacity of 5GWh at full scale (1) Final certification of Lion battery packs in Q4 2023 Continued to ramp-up production of Lion battery packs and activities to integrate Lion battery pack technology into vehicles Completed shell of the Innovation Center, which is used as a testing & certification center, a pre-delivery inspection site and a warehouse for inventory. It will soon to be used as a showroom, delivery center, for customers to see and test vehicles on test track Rationale Projected Cost Savings Through Increasing Supply Alternatives $ Further Vertical Integration Flexibility to Adapt to Emerging 0 Battery Technologies Control Over Battery Design to Optimize Specifications Project Cost Update (2) Incurred $10M in Q3 2023 Total capex incurred to date of ~$116M Expected capex of $7M for the remainder of 2023, which will be the end of main initial investments p.11 1) Management's expectations with respect to the LionCampus and the related ramp-up of production are based on a number of assumptions and may be subject to change. See "Forward-Looking Statements" on page 1. 2) Capex figures include R&D addition to intangible assets LION LION ELECTRIC

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