Nikola Results Presentation Deck

1 5 PAGE NIKOLA Q3 AND FY 2021 UPDATE In Thousands Except Deliveries, Share, and per Share Data Deliveries (units) (1) Revenue (2) Gross margin Research and development Selling, general, and administrative Stock based compensation (3, 4) Capital expenditures Expected total shares outstanding as of 9/30/21 and 12/31/21 (5) Expected weighted average shares outstanding as of 9/30/21 and 12/31/21 (5) Q3 2021 Range Low High TRUCK UPDATES NM COOLIDGE FACILITY UPDATE $90,000 $65,000 $75,000 $53,000 $95,000 $70,000 NM $85,000 408,500,000 402,500,000 FY 2021 Range Low High 25 NM $318,000 $252,000 $210,000 4) SBC for FY 2021 R&D - $40M, SG&A - $169M (5) Shares outstanding as of 12/31/2020 plus estimated employee stock option exercises, restricted stock unit distributions, and estimated purchase notices issued to Tumim Stone Capital LLC $209,000 50 $7,500 $328,000 418,000,000 -190% $262,000 413,500,000 $230,000 1) Represents trucks in customers' hands for freight delivery on public roads; May not represent saleable vehicles 2) Some portion of Tre BEV Pre-Series Builds in Q4 will not be saleable even if placed with dealers or launch customers for freight haul on public roads. Accordingly, the upper Revenue range assumes 25 saleable trucks with an ASP of $300k 3) SBC for Q3 2021: R&D - $10M, SG&A - $43M ULM FACILITY UPDATE WVR DEALER NETWORK Q2 2021 RESULTS Q3 & FY 2021 OUTLOOK APPENDIX

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