Nikola SPAC Presentation Deck

MANUFACTURING FACILITY AND HYDROGEN STATION ASSET LIFE DEPRECIATION RELATED TO H2 STATIONS DEPRECIATION RELATED TO REMAINING BUSINESS OPERATIONS BS H₂ STATIONS ASSETS DEPRECIABLE ASSETS ASSET LIFETIME DEPRECIATION HYDROGEN STATIONS Electrolyzers Installation Buildings • Transformer / rectifier ~21 YEARS NIKOLA TRE™ MANUFACTURING FACILITY Hydrogen stations and manufacturing facility expected to have lifetimes of "21 years and ~30 years, respectively Manufacturing facilities in Coolidge, AZ, including primary power hookup, a central energy plant and site development -30 YEARS MANUFACTURING EQUIPMENT Equipment used in manufacturing facility. including body and assembly, sequencing and warehousing, paint and office -14 YEARS STRAIGHT LINE NIKOLA TWO HQ • Purchase of current HQ in Phoenix, AZ . Expected purchased in 1H 2022 -30 YEARS OTHER FIXED ASSETS • Includes leasehold improvements, furniture and fixtures, software, capital equipment (R&D), pilot hydrogen station and computers/ IT and other VARIOUS Note: Depreciation expenses are included as part of COGS. Hydrogen station depreciation included as part of hydrogen station COGS, Manufacturing facility, manufacturing equipment and HQ to be allocated between BEV and FCEV trucks sold in period. Other foxed asset depreciation included as part of operating expenses 54

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