Slide 1: Fourth Quarter 2021 Earnings Call
1 Fourth Quarter 2021 Earnings Call March 28, 2022
Slide 2: Safe Harbor
2 Safe Harbor This presentation (this “Presentation”) contains “forward - looking statements” within the meaning of U . S . federal securities laws . Such forward - looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions, plans, prospects
Slide 3: Today's Presenters
3 Tim Reeser Founder and Chief Executive Officer Today’s Presenters Teresa Covington Chief Financial Officer Kash Sethi Chief Revenue Officer
Slide 4: Agenda
4 Agenda Supply Chain and Manufacturing Update 3 5 Q&A 6 Lightning Overview 1 Building a Stronger Company 2 4 Sales and Business Development Update Financial Summary
Slide 5: Lightning Overview and CEO update
5 Lightning Overview and CEO update Collins Cut - Away School Bus Chassis on the Lightning Production Line
Slide 6: Lightning Overview (vehicle platforms and footnotes)
6 1 Ford Transit, Ford E - 450, Ford F - 550, Ford F59/53, GM6500, Gillig transit bus, Van Hool motorcoach. Applications include cargo and passenger vans of each type, ambulances, step vans, shuttle buses, box trucks, sch oo l buses, tow trucks, refrigerated vans and trucks, single and double - deck
Slide 7: Optimized Modular Design Addresses Diversified Opportunities
7 Optimized Modular Design Addresses Diversified Opportunities Note: Pictures represent selected vehicles as examples in each class and our products are not limited to vehicles shown ▪ Vehicle class - and application - agnostic design ▪ Cost - effective customization enabled by modular software and
Slide 8: Partnering with GM to Electrify Medium Duty Trucks
8 Partnering with GM to Electrify Medium Duty Trucks • Class 3 through 6 commercial vehicles • Applications include school buses, shuttle buses, delivery trucks, work trucks, and more • Broadens and diversifies Lightning’s chassis supply • Can be used to diversify our offerings to Forest River and C
Slide 9: Supply Disruptions Remain, but Progress in Key Areas
9 • Batteries: • Our previously announced battery partnership agreements have put us in an excellent position regarding battery supply, with inventory on - hand today. • Chassis: • Major chassis OEMs have publicly spoken to limited chassis availability. This is now expected to continue through 2022.
Slide 10: Already In Production with Expanded Facility
10 • Completed the expansion of manufacturing facility space to over 140 ,000 square feet • Production capacity at 3,000 vehicles and powertrain systems per year in two shifts (currently running one shift) • Renovating additional 3,700 square feet for vehicle research & development annex and dyno an
Slide 11: Sales and Business Development Update
11 Sales and Business Development Update
Slide 12: Products & Markets Update
12 Products & Markets Update Market / Vehicle Applications Body / Channel Partner Status Cargo Vans and Delivery Trucks (Class 3 - 6) • Vehicles on the road with multiple customers • Ongoing production • Repeat orders received • Selling direct and via regional dealer partners Passenger Vans & Shuttl
Slide 13: Products & Markets Update
13 Products & Markets Update Market / Vehicle Applications Body/Channel Partner Status Ambulances (Class 3) • Vehicles in production • Initial deployments with US fleets in 1H 2022 Motorcoach & Transit Bus Repowers (Single and Double Deck) • Pilot units successfully tested in the field • Conducting
Slide 14: Regulation, Grants & Corporate Targets Continue to Drive EV Adoption
14 ▪ California ACT Regulation : Minimum ZEV requirements starting in 2024 ramping to 100% by 2045 ▪ 15 state MOU representing 50% of US economy and 40% goods movement: 30% zero emission sales by 2030 ramping up to 100% by 2050 ▪ California Transit Rule : Minimum ZEV purchase requirements starting i
Slide 15: The Repower Opportunity
15 The Repower Opportunity • Industry - wide chassis shortages have created new opportunities for repowering commercial vehicles with zero - emission powertrains • Lightning eMotors has been repowering vehicles to near - zero or zero emission technology for nearly 10 years • Agreement and partnershi
Slide 16: Financial Update
C LIGHTNING MOTORS Financial Update | TAME SAUTER may ‘nite Sh: TIT
Slide 17: Lightning eMotors Business Update 2021 Q4 and 2020 Q4
17 ($’s in millions) 1 Represents calculations based upon Non - GAAP metrics. See slide 19 for reconciliation of GAAP to Non - GAAP measures. $4.2 (63.5%) ($17.2) $22.2 $26.3 ($15.9) 2021 Q4 Actuals Lightning eMotors Business Update 2021 Q4 and 2020 Q4 2020 Q4 Actuals $3.7 (31.0%) ($5.2) ($13.4) ($1
Slide 18: Lightning eMotors Business Update 2022 Q1 Guidance
18 Revenue Vehicle and Powertrain Systems Sold Adjusted EBITDA (1) $5.0 to $6.0 65 to 75 ($15.0) to ($17.0) 2022 Q1 Guidance Supply chain delays may impact our ability to sell vehicles and our financial results. Lightning eMotors Business Update 2022 Q1 Guidance ($’s in millions) 1 Represents calcul
Slide 19: Net Loss to Adjusted EBITDA Reconciliation
19 Net Loss to Adjusted EBITDA Reconciliation ($’s in millions) Q4 2021 Actual Q4 2020 Actual Q1 2022 Guidance Net Income (Loss) $22.2 ($13.4) ($20.2) to ($22.2) Depreciation and Amortization $0.3 $0.1 $0.4 to $0.5 Interest expense $3.8 $1.8 $3.8 EBITDA (Loss) $26.3 ($11.5) ($15.9) to ($18.0) Stock
Slide 20: Thank You
6, ra rere eMOwTOR S =~ WOLOKK® Thank You