Investor Presentation December 2023

Q3 2023 Financial Results Overview Q3 2023 Revenue (US$M) $41.0 $80.3 Q3 2022 Q3 2023 Quarterly Revenue Growth (US$M) 1) p.18 $58.0 $54.7 $46.8 $41.0 $29.5 $22.6 $80.3 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2023 Highlights • • $80.3M in revenue, double the $41M in Q3 2022 Approximately same SG&A ($17.4M vs $18.2M in Q3 2022) Gross profit of $5.4M and 6.7% gross margin, vs (9%) in Q3 2022, mainly driven by volume, favorable product mix, ASP and cost discipline Significant Adjusted EBITDA (1) increase from ($15.1M) in Q3 2022 to ($3.9M) and Net loss of ($19.9M) $16.2M in CAPEX $15.0M in additions to intangible assets, which mainly consists of R&D activities Non-IFRS measure. See "Financial Information; Non-IFRS Financial Measures and Other Performance Metrics". This measure is also defined in Appendix A, which also includes a reconciliation to the most directly comparable IFRS measure. ⑦LION ELECTRIC

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