Nikola Results Presentation Deck

15 PAGE NIKOLA Q4 AND FY 2021 UPDATE In Thousands Except Deliveries, Share, and per Share Data Deliveries (units) Revenue Gross margin Research and development Selling, general, and administrative (1) Stock based compensation (2) Capital expenditures Expected total shares outstanding as of 12/31/21 (3) Expected weighted average shares outstanding as of the quarter and fiscal year 12/31/21 (3) Q4 2021 Range Low NM $100,000 $70,000 $75,000 Up to 25 $56,000 High $7,500 $105,000 418,000,000 -190% $75,000 408,900,000 $85,000 FY 2021 Range Low NM $300,000 $395,000 $210,000 1) FY 2021 SG&A range includes $125M reserved loss contingency for the potential SEC settlement booked in Q3 2) SBC for Q4 2021: R&D $11.5M, SG&A $44,5M; SBC for FY 2021 R&D $40M, SG&A $169M 3) 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 Up to 25 $209,000 418,000,000 399,100,000 High $7,500 -190% $310,000 $405,000 $230,000

View entire presentation