Nu Ride Inc · OTC:NRDE
Nu Ride — Lordstown Motors — Shareholder Meeting (May 2022)
27 slides from Nu Ride's shareholder meeting presentation, May 19, 2022
Slide 1: Annual Stockholders' Meeting Welcome
Annual Stockholders’ Meeting Welcome 5/19/2022
Slide 2: Non-Executive Chairwoman Angela Strand
Non-Executive Chairwoman Lordstown Motors Corp. Angela Strand 00 00 00 00 02
Slide 3: EVP, General Counsel & Secretary Melissa Leonard
Executive Vice President, General Counsel & Secretary Lordstown Motors Corp. Melissa Leonard 00 00 00 00 03
Slide 4: Non-Executive Chairwoman Angela Strand
Non-Executive Chairwoman Lordstown Motors Corp. Angela Strand 00 00 00 00 04
Slide 5: The meeting has convened
Annual Stockholders’ Meeting The meeting has convened 5/19/2022
Slide 6: The meeting is adjourned
Annual Stockholders’ Meeting The meeting is adjourned 5/19/2022
Slide 7: Perspectives Then & Now
Annual Stockholders’ Meeting Perspectives Then & Now 5/19/2022
Slide 8: Forward-looking statements
This presentation includes forward looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel," "believe," "expects," "estimates," "projects," "intends,“ "sho
Slide 9: Chief Executive Officer Dan Ninivaggi
Chief Executive Officer Lordstown Motors Corp. Dan Ninivaggi 00 00 00 00 09
Slide 10: Video omitted: The Road Ahead
VIDEO OMITTED “THE ROAD AHEAD”
Slide 11: Endurance is what got us here.
ENDURANCE is what got us here.
Slide 12: Experienced automotive leadership team
Former CEO of Icahn Enterprises LP; 20+ years in Sr. leadership positions in the automotive and transportation industries. Dan Ninivaggi 30 years of experience serving in product development, engineering, manufacturing, commercial, and sr. executive roles at Ford, BMW, and GM Edward T. Hightower 20+
Slide 13: Then vs. Now: Strategic Pivot
Then 00 00 00 00 13 Strategic Pivot Traditional vertically integrated OEM without scale Flexible and less capital-intensive business model focused on partnerships to achieve scale benefits Now High fixed cost structure Sole management of supply base Sole vehicle development responsibility Endurance™
Slide 14: Solidified Long Term Relationship with Foxconn
00 00 00 00 14 Solidified Long Term Relationship with Foxconn Sold Lordstown facility for $260 million • ~400 experienced automotive personnel became Foxconn employees • Retained ~250 professionals with deep automotive experience, including in engineering, product development, quality and industrial
Slide 15: Strategic Shift - Fixed to Variable Cost Business Model
15 00 00 00 00 Strategic Shift - Fixed to Variable Cost Business Model Total1 Freight1 $5.5M $7.7M $22M $5.5M Direct/Indirect operating costs1 $1.2M Cost of manufacturing employees1 $10M $0M Substantially Reduced Complexity & Operating Risk 1) Estimates based on Q1 2022 results and provided for illu
Slide 16: Joint Venture for Vehicle Development
Joint Venture for Vehicle Development Signed MIH EV Design LLC Joint Venture (JV) agreement to develop and launch new electric vehicles utilizing Foxconn’s Mobility-in- Harmony (MIH) open platform. • JV includes $100 million in initial funding with 55%/45% Foxconn/LMC ownership split • Accelerates t
Slide 17: President Edward T. Hightower
17 00 00 00 00 President Lordstown Motors Corp. Edward T. Hightower
Slide 18: The Endurance BEV - Near Launch Ready
The EnduranceTM BEV - Near Launch Ready PPV builds begin Cold weather testing completed in Minnesota Mar 2022 Chassis brake, NVH and powertrain testing Mar-May 2022 MTS & structural durability, and high mileage testing Q1-Q3 2022 Hot weather testing Q222 Start of commercial production Q322 Vehicle h
Slide 19: Engineering validation and testing continues
Engineering validation and testing continues Currently building Endurance PPVs for homologation and certification, including tests for the EPA, CARB, and FMVSS Latest FMVSS frontal, side, and rear crash tests have been positive and consistent with CAE simulations. Prediction of 5-star crash safety p
Slide 20: Endurance Design Journey - A Purpose-Built Work Truck
Endurance™ Design Journey – A Great Purpose-Built Work Truck The dedicated design and engineering team at Lordstown has invested tens of thousands of hours, bringing a full- sized BEV to market to serve the needs of fleet customers – at a lower total cost of ownership 20 00 00 00 00 Durability 1 Man
Slide 21: In-Wheel Hub Motors Deliver Superior Performance
In-Wheel Hub Motors Deliver Superior Performance Hub Motor Differentiators Superior traction on snow/ice Quick acceleration response Maneuverability/stability – instant torque at corners (no lag response) Small vehicle footprint/simplicity of system – less maintenance and higher reliability Lower ce
Slide 22: Distinct Intellectual Property
00 00 00 00 22 Distinct Intellectual Property LMC has made substantial investments developing intellectual property to build the EnduranceTM including: • Hub motor and battery module and pack lines • Vehicle architecture and central supervisory powertrain controller (VCU) • Software and integrated c
Slide 23: $100M Commitment to MIH EV Design LLC Joint Venture
23 00 00 00 00 $100M Commitment to MIH EV Design LLC Joint Venture Stronger Together Lower material & manufacturing costs Faster economies of scale Broadens product portfolio Accelerates development and launch timelines Licensing globally Highly talented team with deep experience creating and launch
Slide 24: Why Lordstown Motors?
00 00 00 00 24 Why Lordstown Motors? Near Launch Ready Full-sized BEV pickup targeting the underserved commercial fleet market Unique Vehicle Attributes Purpose-built work truck, not a redesigned ICE, hub motors drive superior turning radius, traction and maneuverability Distinct IP Valuable IP cove
Slide 25: Thank you to our team
Slide 26: Video omitted: Ride with Lordstown
VIDEO OMITTED “RIDE WITH LORDSTOWN”
Slide 27: Thank you!
May 19, 2022 © 2022 LORDSTOWN MOTORS CORPORATION Thank you! INVESTOR RELATIONS ir@lordstownmotors.com MEDIA INQUIRIES crobar@robarpr.com | 313.207.5960 #RIDEWITHLORDSTOWN