Aeva Investor Presentation Deck

Pro Forma Equity Ownership Sources and Uses ¹,2 $ in millions InterPrivate Trust Rollover Equity PIPE Existing Cash on Balance Sheet³ Total Sources Existing Cash on Balance Sheet³ Cash to Balance Sheet (Cash in) Rollover Equity Fees & Other Transaction Expenses Total Uses ● Sources ● Uses $243 $1,706 $320 $32 $2,301 All Aeva preferred and common equity holders received stock in public company ● Proceeds from transaction used to capitalize balance sheet for $511MM Aeva will use proceeds to primarily fund: Operating expenses incurred to support significant demand from leading Automotive customers $32 $511 $1,706 $52 $2,301 Substantial research and development activities devoted to developing the next- generation of customized solutions for mass production Working capital to support increasing production demand Pro Forma Valuation¹ $ in millions (Share Price in $) Share Price Pro Forma Shares Outstanding4 Equity Value Plus: Debt Less: Cash to Balance Sheet Enterprise Value Pro Forma Post Money Ownership¹,4 %/millions of shares Existing Avea Shareholders 74% / 170.6 Public Shares 11%/ 24.2 PIPE Investor Shares 12% / 28.2 $10.00 229.87 IPV Sponsor Shares 3% / 6.9 ● Completion of the transaction is expected to occur on or about March 12, 2021 ¹Based on InterPrivate's Registration Statement on Form S-4 filed with the Securities and Exchange Commission on February 10, 2021, as amended, and assumes no stockholder conversions 2 Based on Aeva and IPV capital structure as of September 30,2020. ³ Includes Aeva and IPV existing cash on Balance Sheet as of Sept 30, 2020. 4 Includes 23.5MM of Options and RSUS, and does not include 12.4MM of total SPAC warrants (12.1 MM public and 0.3MM from sponsor) outstanding at a strike price of $11.50. $2,299 0 $543 $1,756 AEVA 32

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