Xos SPAC Presentation Deck

Reconciliation of Non-GAAP Financials US$ Millions EBITDA GAAP Operating Profit Stock-based Compensation Warrant Issued Expense Depreciation & Amortization EBITDA Free Cash Flow Cash Flow from Operations Capital Expenditure Free Cash Flow 2020E ($11.9) $0.0 ($1.0) $0.3 ($12.6) ($15.1) ($0.4) ($15.5) 2021E ($47.6) $0.1 $0.0 $7.5 ($40.1) ($40.3) ($67.0) ($107.3) 2022E ($66.1) $0.3 $0.0 $32.8 ($32.9) ($63.4) ($112.1) ($175.5) 2023E $84.3 $6.8 $0.0 $69.8 $160.9 $46.2 ($212.9) ($166.8) 2024E $471.8 $30.0 $0.0 $115.5 $617.4 $381.8 ($230.6) $151.2 2025E $995.7 $74.2 $0.0 $146.1 $1,216.0 $868.9 ($221.4) $647.5 Confidential and Privileged, Property of Xos, Inc. F 43

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