Xos SPAC Presentation Deck

Significant International Expansion Opportunity Business model poised to be replicated internationally, due to the following characteristics: 1. FLEX MANUFACTURING STRATEGY Leverages existing local facilities and labor pool for vehicle assembly 2. MODULAR X-PLATFORM Supports customization based on local preference, application and demand 3. GLOBAL PARTNERSHIP NETWORK Existing network of global partners with long-standing international presence TARGET INTERNATIONAL MARKETS Canada Mexico Europe Asia³ Source: LMC Automotive. (1) Annual sales of medium-duty and 20% of heavy-duty commercial trucks assumed to be used for last mile applications. (2) Applied Xos assumed average selling price to Annual Vehicle Sales. (3) Excludes China. 4. MULTINATIONAL BLUE CHIP CUSTOMER PORTFOLIO Our customers operate multinationally today 5. LAST MILE AND RETURN-TO-BASE FOCUS Able to adapt to international roads and transportation infrastructure 6. EXPECTED INDUSTRY-BEST TOTAL COST OF OWNERSHIP Maximizes competitiveness in any market irrespective of local incentives Region Canada & Mexico Europe Asia³ Annual Vehicle Sales¹ 34,000 138,000 287,000 TAM² $4B $20B $36B Confidential and Privileged, Property of Xos, Inc. 21

View entire presentation