Xos, Inc. · NASDAQ:XOS

Xos — Investor Presentation (September 2024)

24 slides from Xos's investor presentation, September 2024

Slide 2: Disclaimer
DISCLAIMER 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, but are not limited to, expectations relat
Slide 3: Commercial EVs customers need, a clear path to profitability and regulatory tailwinds
NASDAQ: XOS COMMERCIAL EVS THAT Xos Hub Mobile Charging Solution CUSTOMERS NEED, A CLEAR PATH TO PROFITABILITY AND STRONG REGULATORY TAILWINDS LOWER COST OF OWNERSHIP Xos Stepvans deliver Total Cost of Ownership (TCO) savings before incentives, with payback periods <5 years when 2024 Xos SV Stepvan
Slide 4: Xos' competitive pricing and efficient EV powertrains save fleets money
NASDAQ: XOS XOS’ COMPETITIVE PRICING AND EFFICIENT EV POWERTRAINS SAVE FLEETS MONEY SAVINGS AT 70% 40% PURCHASE LOWER SAVINGS Compared to diesel, after incentives. 1 Per-mile energy costs In per-mile scheduled maintenance costs for EVs2 In many markets incentives can bring Xos EVs are signiﬁcantly m
Slide 5: Strong sales and gross margins with a promising profit trajectory
NASDAQ: XOS STRONG SALES & GROSS MARGINS WITH A PROMISING PROFIT TRAJECTORY ARE BUILDING A SUSTAINABLE BUSINESS 67 to 100 Xos does RECENT XOS FINANCIAL not provide gross proﬁt guidance PERFORMANCE -44 to -48 © Copyright Xos Inc. 2024. All rights reserved. 5
Slide 6: California put a deadline on the EV transition, and other states expected to follow
NASDAQ: XOS CALIFORNIA PUT A DEADLINE ON THE EV TRANSITION, AND OTHER STATES ARE EXPECTED TO FOLLOW CALIFORNIA FLEET REGULATIONS Advanced Clean Fleets (ACF) Mandated share of zero-emission vehicles, 100% California stepvan ﬂeets1 The Advance Clean Fleets (ACF) rules passed in 2023 by the California
Slide 7: Stackable federal and state incentives can cover the majority of vehicle costs
NASDAQ: XOS STACKABLE FEDERAL & STATE INCENTIVE CAN COVER THE MAJORITY OF VEHICLE COSTS $40K FEDERAL IRA TAX CREDIT (~25% of stepvan cost) + California $85K Voucher Nevada $90K Voucher Massachusetts $60K Voucher Maryland $60K Voucher New York Up to $145K Voucher Texas 80% of Vehicle & Charger Cost U
Slide 8: Slide 8
Slide 10: Three product lines cover vehicles, powertrains and charging solutions
NASDAQ: XOS | PRODUCTS THREE PRODUCT LINES COVER COMPLETE VEHICLES, POWERTRAINS AND CHARGING SOLUTIONS FOR COMMERCIAL APPLICATIONS XOS TRUCKS XOS ENERGY SOLUTIONS™ POWERED BY XOS™ Cost-competitive commercial EVs for Flexible charging products and EV powertrain kits for established last-mile ﬂeets se
Slide 11: Xos is a leader in Class 5 & 6 stepvans and provides powertrains to specialty OEMs
NASDAQ: XOS | ELECTRIC COMMERCIAL VEHICLES XOS IS A LEADER IN CLASS 5 & 6 STEPVANS AND PROVIDES POWERTRAINS TO SPECIALTY OEMS 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 6,001 – 10,001 – 14,001 – 16,001 – 19,501 – 26
Slide 12: The Xos Stepvan is purpose-built for last-mile commercial fleets
NASDAQ: XOS | ELECTRIC COMMERCIAL VEHICLES THE XOS STEPVAN IS PURPOSE-BUILT FOR LAST-MILE COMMERCIAL FLEETS FAMILIAR BODY We partner with companies like Morgan Olson and Utilimaster to provide customers with stepvan bodies they know and love. BATTERY MODULARITY Our modular battery system allows cust
Slide 13: 2024 Xos SV Stepvan specifications
NASDAQ: XOS | ELECTRIC COMMERCIAL VEHICLES 2024 XOS SV STEPVAN SPECIFICATIONS The 2024 Xos SV is designed to be the optimal battery-electric vehicle for key use cases, including parcel delivery, linen and textile services trucks, utility and repair trucks, and armored transport. Its modularity allow
Slide 14: Range of charging solutions tailored to commercial fleets
NASDAQ: XOS | ENERGY SOLUTIONS SUPPORTING EV ADOPTION WITH A RANGE OF CHARGING SOLUTIONS TAILORED TO COMMERCIAL FLEETS XOS HUB™ Fixed or mobile deployments of Hubs on customer sites as an alternative or augmentation to permanent infrastructure TEMPORARY CHARGING EQUIPMENT Deployments of quick-to-ins
Slide 15: Xos Hub provides flexible charging and energy storage for fleets and job sites
NASDAQ: XOS | ENERGY SOLUTIONS XOS HUB™ PROVIDES FLEXIBLE CHARGING AND ENERGY STORAGE FOR FLEETS AND JOB SITES AFFORDABLE Price competitive with permanent infrastructure for many applications MOBILE Total weight of the Hub unit + trailer is less than 9,000 lbs and towable with a standard pickup truc
Slide 16: Xos Hub mobile charging solution specifications
NASDAQ: XOS | ENERGY SOLUTIONS XOS HUB™ MOBILE CHARGING SOLUTION SPECIFICATIONS The Xos Hub is a rapidly deployable charging unit designed to help expedite EV adoption. The Hub adds charging ﬂexibility to any EV ﬂeet, from light duty passenger vehicles to specialized equipment for construction and i
Slide 17: Xos manufactures in Byrdstown, TN, close to customers' upfitters
NASDAQ: XOS | PRODUCTION XOS MANUFACTURES IN BYRDSTOWN, TN, CLOSE TO OUR CUSTOMERS’ PREFERRED UPFITTERS Byrdstown, TN Chassis assembly UPFITTER PARTNERS Installers of customer speciﬁed bodywork and accessories on Xos chassis Los Angeles, CA Headquarters © Copyright Xos Inc. 2024. All rights reserved
Slide 18: All Xos vehicles assembled on efficient parallel production lines in Byrdstown
NASDAQ: XOS | PRODUCTION ALL XOS VEHICLES ARE ASSEMBLED ON EFFICIENT, PARALLEL PRODUCTION LINES IN THE BYRDSTOWN FACILITY Delivery to customer or upﬁtter Sub Assembly Booths Station 4 Location Byrdstown, TN 8 6 9 7 5 n n n n n (<2 hrs to Nashville) io io io io io at at at at at St St St St St Statio
Slide 19: Delivering vehicles to leading commercial fleets since 2018
NASDAQ: XOS | TIMELINE DELIVERING VEHICLES TO LEADING COMMERCIAL FLEETS SINCE 2018 Founded by two First customer First deliveries First deliveries to Updated Stepvan Announced Blue ﬂeet operators deliveries of the to UPS FedEx Ground launched Bird Partnership Xos stepvan ﬂeets 2016 2018 2019 2021 20
Slide 20: Slide 20
Slide 22: Xos delivers strong unit delivery, sales growth and promising operating profit
NASDAQ: XOS | Q2 2024 HIGHLIGHTS XOS, INC. DELIVERS STRONG UNIT DELIVERY, SALES GROWTH AND PROMISING OPERATING PROFIT PERFORMANCE IN THE SECOND QUARTER OF 2024 ● Achieved 45% quarter-over-quarter and 137% year-over-year growth in unit deliveries ● Achieved 18% quarter-over-quarter and 227% year-over
Slide 23: Q2 2024 Financial Highlights
NASDAQ: XOS | Q2 2024 RECENT HIGHLIGHTS Q2 2024 FINANCIAL HIGHLIGHTS INCOME STATEMENT HIGHLIGHTS ($M) BALANCE SHEET HIGHLIGHTS ($M) Three Months Ended 30 Jun 2024 31 Dec 2023 30 Jun 2024 31 Mar 2024 Inventories $41.4 $37.8 Revenue $15.5 $13.2 Cash equivalents, restricted cash and marketable debt $20

Xos — Investor Presentation (September 2024) on 6ix

Xos — Investor Presentation (September 2024)

Slide 1: Investor Presentation September 2024

Slide 2: Disclaimer

Slide 3: Commercial EVs customers need, a clear path to profitability and regulatory tailwinds

Slide 4: Xos' competitive pricing and efficient EV powertrains save fleets money

Slide 5: Strong sales and gross margins with a promising profit trajectory

Slide 6: California put a deadline on the EV transition, and other states expected to follow

Slide 7: Stackable federal and state incentives can cover the majority of vehicle costs

Slide 8: Slide 8

Slide 9: Company Overview

Slide 10: Three product lines cover vehicles, powertrains and charging solutions

Slide 11: Xos is a leader in Class 5 & 6 stepvans and provides powertrains to specialty OEMs

Slide 12: The Xos Stepvan is purpose-built for last-mile commercial fleets

Slide 13: 2024 Xos SV Stepvan specifications

Slide 14: Range of charging solutions tailored to commercial fleets

Slide 15: Xos Hub provides flexible charging and energy storage for fleets and job sites

Slide 16: Xos Hub mobile charging solution specifications

Slide 17: Xos manufactures in Byrdstown, TN, close to customers' upfitters

Slide 18: All Xos vehicles assembled on efficient parallel production lines in Byrdstown

Slide 19: Delivering vehicles to leading commercial fleets since 2018

Slide 20: Slide 20

Slide 21: Recent Highlights

Slide 22: Xos delivers strong unit delivery, sales growth and promising operating profit

Slide 23: Q2 2024 Financial Highlights

Slide 24: investors.xostrucks.com