Workhorse Group (WKHS) Investor presentation summary

Market opportunity and positioning

• Medium-duty commercial truck market valued at $23 billion, with low competitive intensity and high potential for electrification and modernization.

• Trusted by 10 of North America's largest fleets, with over 1,100 vehicles deployed and 20 million miles of real-world data.

• EVs offer significant cost savings, operational efficiencies, and public benefit, with medium-duty trucks contributing disproportionately to emissions.

• Market is B2B-focused, with stable rebuy cycles and predictable, depot-based routes ideal for electrification.

Strategic merger and value drivers

• Merger with Motiv Electric Trucks completed in December 2025, combining 20+ years of experience and $860M in invested capital.

• Enhanced product portfolio includes trucks, shuttles, and buses, with a path to Class 5/6 cab chassis and expanded addressable market.

• Demonstrated 64% lower operating costs versus ICE vehicles, with a pathway to further reduce unit costs and close the price gap.

• $50M in new debt financing supports growth, with existing plant capacity sufficient for multi-year expansion.

Product innovation and operational excellence

• Software-first, modular vehicle architecture enables rapid configuration, over-the-air updates, and advanced telematics.

• Proprietary SmartHub and intelligent connectivity drive predictive maintenance, uptime, and fleet optimization.

• Advanced safety features and ergonomic design improve driver experience and reduce insurance costs.

• Commercial-scale manufacturing in Union City, Indiana, supports growth with minimal additional CapEx.