Xos SPAC Presentation Deck

Expected Industry-Leading Unsubsidized Total Cost of Ownership Enabled by Proprietary IP MEDIUM-DUTY (CLASS 5-6) HEAVY-DUTY (CLASS 7-8) XOS PROPRIETARY TECHNOLOGY Xos Battery System Xos Battery Management System Xos Modular Chassis TOTAL COST OF OWNERSHIP DIESEL ALT FUEL Total Savings Payback Period Total Savings Payback Period $400K $300K $200K $100K $OK OK 100K LIFETIME MILES 200K 300K $88K < 3 years $28K 4 - ΝΑ TCO AT 300K MILES Diesel $318K F $40K THE LION ELECTRIC CO $269K WORKHORSE $258K XOS $230K Total Savings Payback Period Total Savings Payback Period $800K $600K $400K $200K SOK OK 100K 200K Source: NACFE, ATRI, EPA, NHTSA, EIA, public filings, press releases and internal estimates. Figures adjusted for cost of electricity, infrastructure charging, sales tax, insurance and AFV savings to compare with consistency and exclude driver wages and benefits. 300K 400K 500K $230K ~1 year $51K - $179K ~1 year TCO AT 500K MILES Diesel $659K HYLIION $607K 4 THE LION ELECTRIC CO $479K F XOS $428K Confidential and Privileged, Property of Xos, Inc. 15

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