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2026 2ND QUARTER EARNINGS CALL August 12th , 2026 HYLIION AVA
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DISCLAIMER The information in this presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this presentation, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this presentation. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, our status as an early stage Company with a history of losses, and our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNOTM Power Module and system; the execution of the strategic shift from our powertrain business to our KARNO business; our ability to comply with governmental regulations related to defense spending and procurement; the suitability of our products for defense applications; and the other risks and uncertainties described under the heading “Risk Factors” in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2026 for the year ended December 31, 2025 and in our subsequently filed Forms 10-Q. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this presentation occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings. 2HYLIION® 2026 | Proprietary
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DEFENSE UPDA TES HYLIION® 2026 | Proprietary 3 $41.7 Million Navy Contract Expecting Additional Military Contracts in 2026 Increased Engagement & Opportunities
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EARL Y ADOPTER UNITS 4 HYLIION® 2026 | Proprietary On Schedule to Complete the ~10 Early Adopter Units in 2026
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HYLIION® 2026 | Proprietary 5 MUL TI-MODULE OPERA TION & PRODUCTION PROGRESS
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Utilize KARNO tech for autonomous vessels and military base power installations. Driven by AI power demand and the KARNO system’s native 800-volt DC capability. 6 Military Data Centers CUSTOMER INTEREST HYLIION® 2026 | Proprietary
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ADDITIVE MANUF ACTURING BREAKTHROUGHS HYLIION® 2026 | Proprietary 7 Beta Machine Agreement with Colibrium Additive, a GE Company
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CAPIT AL TO PRINT CAP ACITY HYLIION® 2026 | Proprietary 8 1 MW Annual KARNO Power Module Capacity $1.5M One-time Manufacturing Capital Investment $2.5M–$3.0M Annual Revenue at Current Pricing
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Liquid Fuel Operation 2026 MILESTONES UL Certification Complete Remaining Early Adopter Deployments 9 Commercialization of 200kW KARNO Power Module* Complete 800kW US Navy Multi-KARNO System New R&D Contract with U.S. Military Commercial and R&D Services Revenue of $10 million Printer Speed Enhancements Initial Customer Site Deployment Multi-KARNO Power Module Operation HYLIION® 2026 | Proprietary * Prioritization of military and data center deployments with commercialization now planned for 2027
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10HYLIION® 2026 | Proprietary 3-YEAR OUTLOOK 2026 • Complete Early Deployments • Printer Speed Enhancements • Secure Additional Military R&D Services Contracts • Develop 800kW Multi- KARNO System for U.S. Navy 2027 • Ramp up Deliveries of and Commercialize 200 kW System • Develop Multi-MW KARNO Power Module for U.S. Navy • Resume Printer Acquisitions for Growth 2028 • Commercial Growth with Accelerating Deliveries • Continue Capital Buildout of Printer Fleet • Begin Multi-MW KARNO Field Trials and Deliveries
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2026 Q2 AND YEAR TO DA TE RESUL TS Year-to-Date Highlights • Growing Revenue and Gross Margin from Navy R&D work • Declining expenses due to lower R&D as Navy business grows • SG&A up due to labor and facilities costs, partly offset by lower insurance costs • Powertrain credits driven by asset sale gains, which are largely complete Q2 Highlights • Revenue from R&D Services for U.S. Navy • Gross Margin of $0.4 million • Lower R&D expense due to shift of work to revenue generating services and reduced spending on R&D activities • Higher SG&A driven by labor costs, partly offset by reduced facilities and insurance costs FINANCIAL RESULTS ($M) 2026 2025 2026 2025 R&D Service Revenue $4.9 $1.5 $7.8 $2.0 Cost of Sales (4.6) (1.4) (7.2) (1.9) Gross Margin $0.4 $0.1 $0.6 $0.1 Expenses Research & Development (9.5) (10.1) (17.2) (22.4) SG&A (6.4) (6.0) (12.6) (12.0) PT Exit and Termination 0.3 0.3 0.7 (1.1) Total Expenses ($15.7) $(15.8) ($29.1) ($35.5) Interest Income 1.4 2.2 2.9 4.7 Net Loss ($13.9) ($13.4) ($25.7) ($30.7) 2nd Quarter Year-to-Date 11HYLIION® 2026 | Proprietary
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Q2 2026 RESUL TS & 2026 OUTLOOK 2026 full year outlook • Increasing revenue forecast from $10 to $15 million • Capital expenditures of ~$4 million, offset by $10 to $15 million of financing • Reducing cash burn forecast from $50 million to ~$30 million, net of financing Q2 2026 resul ts • Cash use of $6.9 million in Q2 and $20.0 million in the first half • 2026 capital spending of $2.1 million year-to-date versus $11.6 million in 2025 • Ended Q2 with $132.4 million of cash and short and long-term investments 12HYLIION® 2026 | Proprietary 2025 YE 26 Spend Capital Spend Equip Financing 2026 YE 2026 Cash Forecast $152 $115 - $120 -$40 $10-$15 -$4
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CLOSING REMARKS 13 Increased Revenue Guidance by 50% Build the 800kW Navy System for USX-1 Defiant Awarded Largest Military Contract to Date at $41.7 Million Improving Additive Manufacturing Throughput Speed by up to 3x Complete Early Adopter Units HYLIION® 2026 | Proprietary QUARTER RECAP WHAT'S NEXT
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Q&A