Nikola Results Presentation Deck

1234 FINANCIAL OVERVIEW STATEMENT OF OPERATIONS Continued gross margin improvement Closing of Romeo battery production operations and optimization of resources expected to continue driving down cash usage Executing cost reduction measures and expect further reductions through the end of 2023 BALANCE SHEET Increased unrestricted cash position by $107.1m in Q2 Executed Coolidge ground sale leaseback resulting in $49.6m net proceeds Reducing inventory on the balance sheet and optimizing working capital as we accelerate deliveries and move to build-to-order ACCESS TO CAPITAL Maintain access to capital of $743.0m as of July 2023 (2,3) Increased cash position while simultaneously reducing cash usage Includes restricted cash Includes proceeds from FFI acquisition of PHH received in July 2023 Subject to successful share registration, Nasdaq share cap limit, and market conditions 04 and 01 have been adjusted to remove Romeo $ in thousands Revenues Cost of revenues Gross loss R&D SG&A Other Net loss from continuing operations Cash & cash equivalents (1) Other assets Total assets Liabilities Stockholder equity Total liabilities and stockholder equity Cash and cash equivalents (1) ELOC & ATM capacity Convertible debt Total Access to Capital (3) Q3 2022 $24,241 54,410 (30,169) 66,683 132,865 (6,517) ($236,234) Q3 2022 $403,790 755,635 1,159,425 595,396 564,029 $1,159,425 Q3 2022 $403,790 612,037 $1,015,827 04 2022 (4) $5,463 32,437 (26,974) 66,134 56,270 (26,266) ($175,644) 04 2022 (4) $313,909 922,749 1,236,658 710,179 526,479 $1,236,658 04 2022 (4) $313,909 544,774 75,000 $933,683 01 2023 (4) $10,677 33,374 (22,697) 61,806 42,697 (18,051) ($145,251) 01 2023 (4) $203,286 955,074 1,158,360 612,489 545,871 $1,158,360 012023 (4) $203,286 443,532 50,000 $696,818 02 2023 $15,362 42,993 (27,631) 64,514 58,764 10,899 (140,010) 02 2023 $295,355 842,146 1,137,501 614,785 522,716 $1,137,501 JULY 2023 $316,097(2) 403,929 22,925 $742,951 10 NIKOLA

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