Xos, Inc. · NASDAQ:XOS

Xos — Investor Presentation (July 2023)

30 slides from Xos's investor presentation, Jul 11, 2023

  1. Slide 1: Investor Presentation July 2023

    © Copyright Xos Inc. 2023. All rights reserved. INVESTOR PRESENTATION NASDAQ: XOS JULY 2023

  2. Slide 2: Forward-Looking Statements

    © Copyright Xos Fleet, Inc. 2023. All rights reserved. Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include

  3. Slide 3: Company Overview, Investment Thesis, Recent Highlights, Appendix

    © Copyright Xos, Inc. 2023. All rights reserved. COMPANY OVERVIEW INVESTMENT THESIS RECENT HIGHLIGHTS APPENDIX

  4. Slide 4: A leading commercial EV OEM, with a path to profitability

    © Copyright Xos, Inc. 2023. All rights reserved. NASDAQ: XOS | A leading commercial EV OEM, with a path to profitability 4 Note: Total cost of ownership estimates are for illustrative purposes only and are subject to variation based on a number of factors not fully discussed herein. …enabling fleets

  5. Slide 5: Xos started delivering EV Stepvans in 2018

    © Copyright Xos, Inc. 2023. All rights reserved. Vehicle financing partnership launched Xos started delivering EV Stepvans in 2018 and is committed to making top-tier vehicles for leading fleets 1st Stepvan delivered to a customer 5 2016 2017 2018 2019 2020 2021 2022 2023 Xos founded by 2 fleet oper

  6. Slide 6: Board of Directors and Leadership Team

    © Copyright Xos, Inc. 2023. All rights reserved. BOARD OF DIRECTORS Anousheh Ansari Alice Jackson 6 Leadership Team Burt Jordan George Mattson Stuart Bernstein Ed Rapp Dakota Semler Chairman & CEO Liana Pogosyan Acting CFO Giordano Sordoni COO & Director

  7. Slide 7: Slide 7

  8. Slide 8: Xos is both a vehicle OEM and provider of charging solutions

    © Copyright Xos, Inc. 2023. All rights reserved. Xos is both a vehicle OEM and provider of charging solutions for commercial fleets Truck OEM Scale production of electric commercial vehicles for last-mile, back-to-base fleets that provide Total Cost of Ownership (TCO) and regulatory, and environment

  9. Slide 9: Truck OEM | Xos is an EV leader in Class 5 and 6 Stepvans

    © Copyright Xos, Inc. 2023. All rights reserved. Truck OEM | Xos is an EV leader in Class 5 and 6 Stepvans Light Duty Medium Duty Heavy Duty Specialty Weight Class Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 Class 8 Varies GVWR (lbs) <6,000 6,001 – 10,000 10,001 – 14,000 14,001 – 16,000

  10. Slide 10: Truck OEM | Xos 2023 SV (Stepvan)

    © Copyright Xos, Inc. 2023. All rights reserved. Truck OEM | Xos 2023 SV (Stepvan) 10 The Xos Stepvan is a 100% battery-electric Class 5 vehicle, purpose-built for commercial applications of up to 200 miles*. Features: Sliding Doors, Cup Holders, Jump Seat, Cabin HVAC, AC Chargers (optional), USB Ch

  11. Slide 11: Xos Energy Solutions | In-house team helps install fleet charging infrastructure

    © Copyright Xos Fleet, Inc. 2023. All rights reserved. Customer Discovery In-depth evaluation of customer charging needs, existing electrical capacity, and available incentives Xos Energy Solutions™ | In-house team helps customers install fleet charging infrastructure on-time STEP 1 11 Collaborative

  12. Slide 12: Xos Energy Solutions | The Hub is a mobile solution

    © Copyright Xos, Inc. 2023. All rights reserved. 12 Xos Energy Solutions™ | In addition to fixed chargers, the Hub is a mobile solution enabling fleets to go EV today 1. Trickle Charge the Hub throughout the day and during off-peak hours 2. Deploy the Hub wherever fast charging is needed - for capac

  13. Slide 13: Manufacturing, quality, and supply chain management are the core focuses of Xos

    © Copyright Xos, Inc. 2023. All rights reserved. Manufacturing capabilities ● All vehicles are produced in a 100,000 sqft factory located in Byrdstown, Tennessee ● Current capacity of 2,000 vehicles per year can be expanded to 5,000 vehicles per year via layout changes and a second shift Supply chai

  14. Slide 14: Xos vehicles provide financial and ESG benefits

    © Copyright Xos, Inc. 2023. All rights reserved. “Xos vehicles continue to deliver value to our growing fleet by helping us cut back on fuel and maintenance costs while also helping us meet our sustainability goals” VP of Procurement and Fleet “We are continuously working to reduce our environmental

  15. Slide 15: Company Overview, Investment Thesis, Recent Highlights, Appendix

    © Copyright Xos, Inc. 2023. All rights reserved. COMPANY OVERVIEW INVESTMENT THESIS RECENT HIGHLIGHTS APPENDIX

  16. Slide 16: Xos builds trucks customers need, on a path to profitability, with regulatory tailwinds

    © Copyright Xos, Inc. 2023. All rights reserved. Xos builds trucks that customers need, is on a path to profitability, and benefits from regulatory tailwinds 161. California ACF regulation requires priority fleets to purchase zero emission vehicles for 10-100% of their fleets Note: Total cost of own

  17. Slide 17: Lower TCO | Xos' proprietary technology saves fleets money

    © Copyright Xos, Inc. 2023. All rights reserved. Custom battery system Delivers high performance and reliability, supported by in-house battery team In-house software & controls Enables rapid iteration on the most critical EV technologies Xos-built chassis Provides fleets and upfitters with a higher

  18. Slide 18: Profitability | The 2023 stepvan has Xos on-track to deliver positive gross margin units

    © Copyright Xos, Inc. 2023. All rights reserved. Gross Margin drivers Recent progress Estimated impact Assuming 450 unit production Ongoing efforts Pricing >20% increase in average selling price (ASP) between Q3 2022 and Q1 2023 >$8M Supporting strong ASPs with clear pricing and new options Direct m

  19. Slide 19: Regulatory tailwinds | California put a deadline on the EV transition

    © Copyright Xos, Inc. 2023. All rights reserved. 19 Regulatory tailwinds | California put a deadline on the EV transition, and other states are expected to follow Thousands of EV stepvans will be needed by 2025 Mandated share of zero-emission vehicles, California stepvan fleets1 1. Based on the ZEV

  20. Slide 20: Regulatory tailwinds | Stackable federal and state incentives

    © Copyright Xos, Inc. 2023. All rights reserved. Regulatory tailwinds | Stackable federal and state incentives can cover the majority of vehicle costs Note: Neither Xos, Inc. nor it affiliates render advice on tax or tax matters to clients or potential clients. Nothing in the materials provided cons

  21. Slide 21: Company Overview, Investment Thesis, Recent Highlights, Appendix

    © Copyright Xos, Inc. 2023. All rights reserved. COMPANY OVERVIEW INVESTMENT THESIS RECENT HIGHLIGHTS APPENDIX

  22. Slide 22: Q1 2023 | Team remains focused on margin improvements and scaling deliveries

    © Copyright Xos, Inc. 2023. All rights reserved. ● Xos recently introduced the Next-Generation 2023 Stepvan, a higher performance iteration of our proven stepvan ● Announced the Xos Hub™, a mobile charger that will unlock vehicle deliveries for fleets waiting on permanent infrastructure ● In the qua

  23. Slide 23: Q1 2023 | Financial highlights

    © Copyright Xos, Inc. 2023. All rights reserved. Q1 2023 | Financial highlights BALANCE SHEET HIGHLIGHTS ($M) 31 Mar 2023 31 Dec 2022 Inventories $57.0 $57.5 Cash equivalents, restricted cash and marketable debt securities $64.0 $89.3 23 INCOME STATEMENT HIGHLIGHTS ($M) Three Months Ended 31 Mar 202

  24. Slide 24: Company Overview, Investment Thesis, Recent Highlights, Appendix

    © Copyright Xos, Inc. 2023. All rights reserved. COMPANY OVERVIEW INVESTMENT THESIS RECENT HIGHLIGHTS APPENDIX

  25. Slide 25: Truck OEM | Planned models

    © Copyright Xos, Inc. 2023. All rights reserved. Class 6 / 7 medium-duty chassis cab Provisional specifications: ● Range: 130 - 270 miles ● Max Payload: 14,000 - 20,000 lbs ● GVWR: 23,000 - 33,000 lbs ● Max Torque: 11,285 - 16,595 ft lbs ● Power: 401 - 469 Horsepower Class 8 heavy-duty tractor Provi

  26. Slide 26: Condensed consolidated balance sheets

    © Copyright Xos, Inc. 2023. All rights reserved. Condensed consolidated balance sheets 26 March 31, 2023 December 31, 2022 (in thousands, except par value) Assets Cash and cash equivalents $ 36,489 $ 35,631 Restricted cash - 3,044 Accounts receivable, net 6,970 8,238 Marketable debt securities, avai

  27. Slide 27: Condensed consolidated statements of operations and comprehensive loss

    © Copyright Xos, Inc. 2023. All rights reserved. Condensed consolidated statements of operations and comprehensive loss 27 Three Months Ended March 31, (in thousands, except per share amounts) 2023 2022 Revenues $ 4,697 $ 7,031 Cost of Goods Sold 5,574 13,030 Gross (Loss) (877) (5,999) Operating Exp

  28. Slide 28: Reconciliation of free cash flow and non-GAAP operating loss

    © Copyright Xos, Inc. 2023. All rights reserved. Reconciliation of operating cash flow less CapEx (free cash flow) and non-GAAP operating loss 28 Three Months Ended March 31, (in thousands) 2023 2022 Net cash used in operating activities $ (15,326) $ (31,304) Purchase of property and equipment (253)

  29. Slide 29: Reconciliation of non-GAAP gross loss

    © Copyright Xos, Inc. 2023. All rights reserved. Reconciliation of non-GAAP gross loss 29 Three Months Ended March 31, Three Months Ended December 31, (in thousands) 2023 2022 2022 Gross loss $ (877) $ (5,999) $ (7,975) Inventory reserves (471) 1,064 361 Physical inventory and other adjustments (453

  30. Slide 30: investors@xostrucks.com

    © Copyright Xos Inc. 2023. All rights reserved. investors@xostrucks.com

Xos — Investor Presentation (July 2023) on 6ix