Slide 1: Second Quarter 2026 Earnings Call
Second Quarter 2026 Earnings Call August 13, 2026 | NASDAQ: WKHS © 2026 Workhorse Group Inc. Confidential and Proprietary
Slide 2: Today's Presenters
Q2 2026 EARNINGS CALL Today’s Presenters Leading the New Workhorse through its second quarter as a combined company CEO CFO CCO SCOTT GRIFFITH JODY DAVIS JOHN WILLIAMS Chief Executive Officer, Workhorse Chief Financial Officer, Workhorse Chief Communications Officer, Group Group Workhorse Group 30+
Slide 3: Agenda
Agenda 01 Opening Remarks 02 Operational & Commercial Update 03 Financial Results & Capital Position 04 Closing Remarks 05 Q&A © 2026 Workhorse Group Inc. Confidential and Proprietary | 3
Slide 4: Cautionary Note Regarding Forward-Looking Statements
OPENING REMARKS | DISCLOSURES Cautionary Note Regarding Forward-Looking Statements Please review these statements before considering today’s remarks This presentation contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the P
Slide 5: The New Workhorse: An Industrial Technology Company
OPERATIONAL & COMMERCIAL UPDATE The New Workhorse: An Industrial Technology Company A Broader Mission Our Ability to Win Transforming from a pure-play EV manufacturer into an Synergies created by the Workhorse/Motiv merger American industrial technology company Extensive software, hardware, en
Slide 6: Delivering on Our Integration Plan & Optimizing for Growth
OPERATIONAL & COMMERCIAL UPDATE Delivering on Our Integration Plan & Optimizing for Growth Reducing cost today while building the organization to win tomorrow 1 2 3 INTEGRATION PROGRESS COST SYNERGY CAPTURE ORGANIZING FOR GROWTH Enterprise systems integration Redundancies reduced across teams Smalle
Slide 7: Reducing BOM Costs & Seizing Greater Share of TAM
OPERATIONAL & COMMERCIAL UPDATE Reducing BOM Costs & Seizing Greater Share of TAM $23B New supplier discussions underway to cut key component costs Consolidating thermal management and power electronics into a new SmartHub Overall size of the medium-duty truck market* China’s EV market illustr
Slide 8: Falling Prices Drove China's Electric Truck Takeoff
OPERATIONAL & COMMERCIAL UPDATE Falling Prices Drove China’s Electric Truck Takeoff China's electric truck share climbed from < 5% to 50%+ in just a few years. China · Electric share of new heavy-duty truck sales 60% INFLECTION EV Truck adoption % of new truck unit sales that are electric in China c
Slide 9: One Modular Chassis. Multiple Body Configurations.
OPERATIONAL & COMMERCIAL UPDATE One Modular Chassis. Multiple Body Configurations. One Workhorse-engineered chassis under development replaces the e450 and F59: a common base of battery, drivetrain and electronics for the full medium-duty range. One chassis, every configuration ‒ Medium-duty has a
Slide 10: Building Strong Momentum at the New Workhorse
OPERATIONAL & COMMERCIAL UPDATE Building Strong Momentum at the New Workhorse New Pricing Since the start of 2026 the sales pipeline has doubled from new and existing fleet customers. We expect to produce more Class 5/6 EV chassis over the next five months than in any prior five-month BOM Firm Order
Slide 11: Strengthening the Leadership Team
OPERATIONAL & COMMERCIAL UPDATE Strengthening the Leadership Team Welcoming Jody Davis as Chief Financial Officer In July, we added a new Chief Financial Officer, Jody Davis, an excellent addition to our senior leadership group. Jody brings many years of finance leadership across manufacturing,
Slide 12: Entering the Mobile AI Data Center Market
OPERATIONAL & COMMERCIAL UPDATE | NEW PRODUCT LINE Entering the Mobile AI Data Center Market A new growth vector for Workhorse 1 2 3 HIGH-GROWTH MARKET COMPETITIVE ADVANTAGE PARTNERSHIP MODEL Mobile data center market still in the Existing engineering and We serve as engineering and early stages of
Slide 13: Mobile AI Data Center: Market Opportunity
NEW PRODUCT LINE | MARKET SIZING Mobile AI Data Center: Market Opportunity $41B Growing Demand: “Edge” and “mobile” AI compute are driving projected market growth Speed to Deployment: Faster to manufacture and deploy than centralized MARKET BY 2031* facilities; can co-locate directly at the powe
Slide 14: Engineering and Manufacturing Synergies
NEW PRODUCT LINE | ENGINEERING FIT Engineering and Manufacturing Synergies Built Mobile. Built Rugged. Built to Scale. Power electronics, thermal management, and ruggedized enclosures Mobile connectivity, vibration isolation, and embedded systems Union City: purpose-built for high-mix, low-vol
Slide 15: Partnership-Based Go-to-Market Approach
NEW PRODUCT LINE | ENGINEERING FIT Partnership-Based Go-to-Market Approach Tier 1 Supplier Model Our customers know the end-user, workload, and deployment environment; we know how to design, test, validate, and manufacture ruggedized mobile platforms at scale We leverage our partners’ demand gen
Slide 16: Q2 2026 Financial Summary
FINANCIAL RESULTS & CAPITAL POSITION Q2 2026 Financial Summary ($ in millions) Q2 2026 Q2 2025 Revenue $3.6 $0.8 Cash Position Vehicles Delivered 26 4 $9.6M in cash and cash equivalents plus $0.7M of restricted cash as of Cost of Sales $11.0 $2.1 June 30, 2026. Gross Loss ($7.5) ($1.4) Credit Facili
Slide 17: Why Workhorse Wins
CLOSING REMARKS Why Workhorse Wins A new industrial technology company built on engineering & manufacturing expertise, a visionary team, proven products and an expanding market opportunity 1. Delivering on the Integration: Cost synergies on track for $20M annualized run rate • SG&A down 18% sequenti
Slide 18: Thank You
Thank You Questions & Answers © 2026 Workhorse Group Inc. Confidential and Proprietary