Canoo Inc. $GOEV | June 12, 2021 Table of Contents Canoo Inc. ................................................................................................................................................................... 1 Engineering ................................................................................................................................................................ 2 Foundation .............................................................................................................................................................. 2 Platform ............................................................................................................................................................... 2 Steer-by-wire ...................................................................................................................................................... 2 Leaf springs ........................................................................................................................................................ 2 Climate control .................................................................................................................................................. 3 Battery housing .................................................................................................................................................. 3 Safety ....................................................................................................................................................................... 3 Cabin .................................................................................................................................................................... 3 Visibility ............................................................................................................................................................. 3 Advanced driver-assistance systems (ADAS) ............................................................................................. 4 Airbags ................................................................................................................................................................ 4 Power ....................................................................................................................................................................... 5 100% electric ....................................................................................................................................................... 5 Charging .............................................................................................................................................................. 5 Battery and motor .............................................................................................................................................. 5 Canoo Products & Pre-orders .................................................................................................................................. 6 The lifestyle vehicle ............................................................................................................................................. 6 Multi-purpose delivery vehicle (MPDV) ......................................................................................................... 8 Pickup truck ........................................................................................................................................................... 9 Canoo opens pre- orders up for electric “lifestyle vehicle”, van and Ute ................................................ 11 Problems at Canoo .................................................................................................................................................. 14 Canoo Stock Has Serious Risks Well Beyond Its Bold Aesthetics ........................................................... 14 Canoo Stock Still Looks Speculative After Big Sell Off ............................................................................. 15 Canoo contracts ........................................................................................................................................................ 17 Canoo’s deal with Hyundai appears dead ..................................................................................................... 17 Canoo Merger with Hennessy Capital Acquisition IV Corp. .................................................................... 19 Canoo & University of Wisconsin-Madison partner on next-generation electric vehicle technologies ................................................................................................................................................................................. 20 Competitor Analysis ............................................................................................................................................... 22 1. Xos Trucks .................................................................................................................................................... 22 Xos Trucks’s Trends ....................................................................................................................................... 23 2. Ford ................................................................................................................................................................ 26 Unique Offers .................................................................................................................................................. 26 All vichels prices ............................................................................................................................................. 27 3. Rivian ............................................................................................................................................................ 28 Unique offers ................................................................................................................................................... 28 Prices .................................................................................................................................................................. 29 Events ......................................................................................................................................................................... 30 Twitter updates ........................................................................................................................................................ 31 Follower’s eva luation chart ............................................................................................................................... 31 Tweets evaluation chart ..................................................................................................................................... 32 Canoo Videos ........................................................................................................................................................... 34 History of Co-founder, CEO & board of directors ........................................................................................... 36 Board of Directors ............................................................................................................................................... 39 News Headlines ....................................................................................................................................................... 48 Press Releases .......................................................................................................................................................... 51 Earnings Date ........................................................................................................................................................... 54 Canoo Stock Forecast & Price ............................................................................................................................... 57 Short Interest ............................................................................................................................................................ 58 Stock price ................................................................................................................................................................ 59 1 Canoo Inc. Canoo is a Los Angeles-based company that has developed breakthrough electric vehicles, reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to put customers first. Distinguished by its experienced team – numbering over 300 employees from leading technology and automotive companies – Canoo has designed a modular platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses. Canoo brings together curious and driven minds from across automotive, high tech, design and many other cutting-edge industries. 2 Engineering Designed with your needs in mind: We believe that the potential of EV architecture can enable a post- SUV era that addresses the ever-growing desire for space and value. Foundation Platform Completely independent from the cabin, our proprietary architecture enables all Canoo vehicles to share the same platform, providing a large SUV space atop a compact car footprint. Canoo's foundation is its platform. Steer-by-wire The first true steer-by-wire platform. This system is the only way to have no direct mechanical connection to our wheels. It has the ability to push the driver forward, be future-proof for autonomy, and provide safety redundancy. Leaf springs For both front and rear suspension, Canoo utilizes composite transverse leaf springs that provide a flatter platform and increase passenger space. 3 Climate control Canoo’s climate system is directly incorporated into the platform which leads to a more optimal usage of space. Battery housing Batteries are integrated directly into the platform increasing torsional rigidity and package efficiency. Safety Cabin We’ve created an electric vehicle utilizing lightweight high -strength steel that exceeds rigorous strength, safety and performance requirements. Visibility The Canoo affords best-in-class driver visibility featuring 22 windows including the front-of-vehicle street view window. 4 Advanced driver-assistance systems (ADAS) Level 2+ Autonomous: The Canoo uses 7 cameras, 5 radars and 6 ultra-short-range sensors that employ deep learning algorithms to perceive the world around the vehicle. External and internal sensors along with facial monitoring cameras determine when to warn and intervene with a driver. Airbags The Canoo is designed and engineered to target an overall 5-star safety rating. 12 airbags throughout the cabin work together to ensure your protection. 5 Power 100% electric Our vehicle runs exclusively on electricity, which is quiet and contributes to a greener future for our cities. Charging The Canoo battery pack can reach an 80% charge in only 28 minutes. Side mirror lighting indicates charge state so you can easily track charge progress. Battery and motor A single permanent magnet synchronous electric motor powers the Canoo with 300hp. A liquid cooling mechanism prevents the system from overheating. Canoo can be configured in Front Wheel Drive, Rear Wheel Drive, and All Wheel Drive. “ Engineered to maximize efficiency ” 6 Canoo Products & Pre-orders The lifestyle vehicle The Lifestyle Vehicle will be Canoo’s first vehicle to market in 2022 with targeted pricing starting from $34,750 - $49,950 for several soon to be announced trims, before incentives, or optional equipment. The lifestyle vehicle has evolved: Higher ground clearance, bolder design, and more utility inside and out for city explorers, businesses, families and adventurers. Preorder today with a fully-refundable $100 deposit. 7 Spacious cabin: Interior space of an SUV with the small footprint of a compact vehicle Driver monitoring: Cutting-edge safety feature User connectivity: Your device, your infotainment, always updated Preorder your lifestyle vehicle 8 Multi-purpose delivery vehicle (MPDV) Business ready: Lower total cost-of-ownership, easy maintenance Cargo volume: More cargo, small footprint, easy maneuverability Productivity tool: Power plant, plug in your tools and get to work Preorder your MPDV 9 Pickup truck A purpose-built pickup truck: Launching as early as 2023. U.S. Preorders Now Open. “All electric. All American. All utility.” The Pickup Truck is built to be the new standard in function, form and utility — ready for work and the weekend. Engineered on our tested Multi-Purpose Platform (MPP1), the Pickup Truck has the payload capacity of a full-size on the exterior footprint of a mid-size with enhanced maneuverability for any terrain . Our pickup truck is as strong as the toughest trucks out there and includes features for people who use trucks – on the job, weekends, and adventure. (Tony Aquila, executive chairman & ceo, Canoo). 10 Pull-out bed: Extend the versatile 4ft x 6ft bed to 8ft to maximize enclosed space then shorten to fit in your garage. Dual flip-down tables : Double your productivity with dual flip down workbenches with two expandable depths near multi-functional power sources. 11 Canoo opens pre- orders up for electric “lifestyle vehicle”, van and Ute Californian EV start-up Canoo has announced that it has opened pre-orders and reservations in the United States for its three electric models – the so-called Lifestyle Vehicle, Multi-Purpose Delivery Vehicle (MPDV), and pickup truck – with only a $US100 down payment required. The company’s Lifestyle Vehicle will be the first of the company’s EVs to market, expected in 2022, and has targeted pricing starting from $US34,750 to $US49,950 (before incentives or optional equipment) for the delivery, base, and premium models – which reflects the company’s current estimates, but are subject to change. Canoo boasts that its “Lifestyle Vehicle has the interior space of a large SUV, with the exterior footprint of a compact car and is made for urban, adventure, families, fleet, ride hailing and more.” Deliveries for the Canoo Pickup Truck and scaled production for its MPDV are scheduled to begin as early as 2023. Pricing for the planned Lifestyle Vehicle Adventure model will be available in the coming months, according to Canoo. “It’s no longer a question of whether America will go EV – but when,” said Tony Aquila, chairman and CEO of Canoo Inc. 12 Canoo’s Pickup Truck, on the other hand, seems to require no ‘anticipation’ over its specifications, with more than 500-horsepower and 550lb.-ft of torque from its dual motors, and a payload capacity of 1,800lbs while still providing 200-miles (320-kilometres) of battery range. Meanwhile, the Multi- Purpose Delivery Vehicle ‘anticipates’ up to 200hp and 236lb. -ft of peak motor torque with up to 250-miles (400- kilometres) of battery range. As with the ‘targeted price range’ of the vehicles, these vehicle specifications are also subject to change. Fin al vehicle specifications for all Canoo’s vehicles will be revealed closer to production. “Our line -up is future-forward and succeeds where others have struggled: Giving people the EV that works smarter for them at a price that can work for their budgets. That’s why we are designing for flexible use cases and focused on productivity solutions. According to the company’s press release, “anticipated specifications” for the Lifestyle Vehicle include up to 300hp and 332lb. -ft of peak motor torque with 250- miles (400-kilometres) of battery range. Unfortunately, news of Canoo’s opening of pre - orders and reservations was joined by Aquila’s revelation that the company is being investigated by the US Securities and Exchange Commission (SEC) which, according to Acquil a, the SEC “characterize the process as a fact - finding inquiry.” Canoo was one of a 13 number of EV start-ups to go public through a special purpose acquisition company, or SPAC, with Canoo’s SPAC of choice called Hennessy Capital Acquisition Corp IV (HCAC). The $US2.4 billion deal was followed later in the year by a massive drop in the company’s share price. According to Aquila, “EV SPACs are now facing some near - term headwinds, including the SEC’s interest in determination on how warrants are treated.” “Th e SEC has also informed the Company that the investigation does not mean that it has concluded that anyone has violated the law, and does not mean that it has a negative opinion of any person, entity or security,” Canoo noted in its regulatory filing in response to the investigation. “We intend to provide the requested information and cooperate fully with the SEC investigation.” 14 Problems at Canoo Canoo Stock Has Serious Risks Well Beyond Its Bold Aesthetics In what seemed like an approach toward a catastrophic year in 2020 was instead a banner moment for electric vehicles. It didn’t seem exactly intuitive at the time, but publicly traded EV manufacturers watched their valuations soar. Thus, in this context, it’s not surprising that one of the hot names of the day is Canoo (NASDAQ: GOEV ). It’s even got one of the cleverest ticker symbols, GOEV stock. Canoo isn’t built on hype alone, far from it. First and foremost, the novel coronavirus pandemic demonstrated the dependency problem of combustion-engine vehicles. Everyone knows that owning a regular car is a pain in the rear. Beyond pumping gasoline, you’ve got to change the oil, change other fluids and go through scheduled maintenance. It adds up. But most importantly, you need other people to do the work. Yes, technically, you can do your own maintenance, but with everything crammed into a small space in modern cars, it’s a bit of a pain. That’s the problem – most folks need to visit their dealership or mechanic for maintenance purposes. That added potential contact risk during the pandemic, which fundamentally benefits the case for GOEV stock 15 and other related investments. EVs simply have fewer moving parts, requiring less maintenance all things being equal. The other catalyst boosting GOEV stock is shifting demographics. Multiple surveys reveal that millennials and Generation Z are the most willing demographics to pay for sustainable products. Over the trailing year, we’ve witnessed how young people are investing their money differently from prior generation s, to put it mildly. Of course, it makes sense that their platform of transportation will change as well. Plus, you have Canoo’s subscription model, where consumers are not encumbered with long -term contracts. Instead, they basically pay as they go. Canoo Stock Still Looks Speculative After Big Sell Off EV startup Canoo (NASDAQ: GOEV ) has seen its stock decline by about 10% over the last month and remains down by roughly 40% year-to-date. Canoo stock trades at about $7.50 per share, with its market cap standing at under $2 billion currently. However, we still think the stock looks somewhat speculative for a couple of reasons. While Canoo has no revenue-generating products, investors were drawn to the stock last year due to the company’s planned strategy of offering its vehicles via a subscription service, using an asset-light manufacturing strategy, partnering with the likes of Hyundai, and licensing its