ENAEES

Certain statements in this presentation, including, but not limited to, statements relating to the future development, ramp, production capacity and output rates, supply chain, demand and market growth, cost, pricing and profitability, deliveries, deployment, availability and other features and improvements and timing of existing and future Tesla products and technologies such as Model 3, Model Y, Model X, Model S, Cybertruck, Tesla Semi, Robotaxi, our next generation vehicle platform, our Autopilot, Full Self-Driving and other vehicle software and our energy storage and solar products; statements regarding operating margin, operating profits, spending and liquidity; and statements regarding expansion, improvements and/or ramp and related timing at existing or new factories are 'forward-looking statements' that are subject to risks and uncertainties. These forward-looking statements are based on management's current expectations, and as a result of certain risks and uncertainties, actual results may differ materially from those projected. The following important factors, without limitation, could cause actual results to differ materially from those in the forward-looking statements: uncertainties in future macroeconomic and regulatory conditions arising from the current global pandemic; the risk of delays in launching and manufacturing our products and features cost-effectively; our ability to grow our sales, delivery, installation, servicing and charging capabilities and effectively manage this growth; consumers' demand for electric vehicles generally and our vehicles specifically; the ability of suppliers to deliver components according to schedules, prices, quality and volumes acceptable to us, and our ability to manage such components effectively; any issues with lithium-ion cells or other components manufactured at Gigafactory Nevada and Gigafactory Shanghai; our ability to ramp Gigafactory Shanghai, Gigafactory Berlin-Brandenburg, Gigafactory Texas and new factories in accordance with our plans; our ability to procure supply of battery cells, including through our own manufacturing; risks relating to international expansion; any failures by Tesla products to perform as expected or if product recalls occur; the risk of product liability claims; competition in the automotive and energy product markets; our ability to maintain public credibility and confidence in our long-term business prospects; our ability to manage risks relating to our various product financing programs; the status of government and economic incentives for electric vehicles and energy products; our ability to attract, hire and retain key employees and qualified personnel and ramp our installation teams; our ability to maintain the security of our information and production and product systems; our compliance with various regulations and laws applicable to our operations and products, which may evolve from time to time; risks relating to our indebtedness and financing strategies; and adverse foreign exchange movements. More information on potential factors that could affect our financial results is included from time to time in our Securities and Exchange Commission filings and reports, including the risks identified under the section captioned 'Risk Factors' in our annual report on Form 10-K filed with the SEC on January 31, 2023. Tesla disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events or otherwise.

ENAEES

Master Plan 3

Sustainable Energy For All of Earth 3

Current State

SUSTAINABLE

FOSSIL FUELS

Over 80% of Global Energy Comes From Fossil Fuels

Only 1/3 of Global Energy Delivers Useful Work or Heat

Our Energy Economy Is Dirty & Wasteful

Primary Energy

165 PWh/yr Consumption

But there's a better way

A Sustainable Energy Economy Is Within Reach & We Should Accelerate It

Primary Energy

Consumption

165

PWh/yr

Current State

FOSSIL FUELS

Sustainable

Energy Economy

SUSTAINABLE

SUSTAINABLE SOURCES

82 PWh/yr

End Use Efficiency

A Sustainable Energy Economy Is Within Reach & We Should Accelerate It

HOW THE MASTER PLAN WORKS

The Plan To Eliminate Fossil Fuels

35 %

Reduction In Fossil Fuel Use

24 TWh

Stationary Storage

10 TW

Solar + Wind

$0.8 T

Manufacturing Investment

1. Repower the Existing Grid With Renewables

21 %

Reduction In

Fossil Fuel Use

$7.0 T

Manufacturing Investment Needs

115 TWh

Vehicle Batteries & Stationary Storage

4 TW

Solar + Wind

2. Switch to Electric Vehicles

2. Switch to Electric Vehicles

21 %

115 TWh

Vehicle Batteries & Stationary Storage

4 TW

Solar + Wind

$7.0 T

Manufacturing Investment

21 %

Reduction In

Fossil Fuel Use

Tesla Model 3

Toyota Corolla

EVs Use Energy Far More Efficiently

4x

More Efficient Oil Well to Wheel

22 %

Reduction In Fossil Fuel Use

6 TWh

Stationary Storage

5 TW

Solar + Wind

$0.3 T

Manufacturing Investment

3. Switch To Heat Pumps in Homes, Businesses & Industry

22 %

Reduction In Fossil Fuel Use

Heat Pumps Move Heat, They Don't Create It

1.4

17 %

Reduction In Fossil Fuel Use

$0.8 T

Manufacturing Investment

48 TWh

Stationary Storage

6 TW

Solar + Wind

4. Electrify High Temp Heat Delivery & Hydrogen

17 %

Reduction In Fossil Fuel Use

48 TWh

Stationary Storage

6 TW

Solar + Wind

$1.0 T

Manufacturing Investment

4. Electrify High Temp Heat Delivery & Hydrogen

5 %

Reduction In Fossil Fuel Use

44 TWh

Vehicle Batteries & Stationary Storage

4 TW

Solar + Wind

$0.8 T

Manufacturing Investment

5. Sustainably Fuel Planes & Boats

Stacking Up the Investments in Our Sustainable Future

It's Entirely Feasible

If We Grow our Production Capacity as Shown by 2030 We Can Be 100% Sustainable by 2050

A Sustainable Energy Economy Is 60% The Cost of Continuing Fossil Fuel Investments

More Than Enough Renewable Resources Available

More Than Enough Renewable Resources Available

Total Earth Land Area = 32,111,167,147 Acres 12.5% of Land Use for Agriculture = 4B Acres = 2x Contiguous US

A Sustainable Energy Economy Involves Less Mineral Extraction

EACH TRUCK IS 1 GIGATON

A Sustainable Energy Economy Involves Less Mineral Extraction

EACH TRUCK IS 1 GIGATON

The Resources Are There To Support the Transition

Cumulative Demand Until 2050, Relative to 2023 USGS Estimated Resources

And History Teaches: The More We Look, The More We Find

Recycling Will Further Reduce Mineral Demand

A Sustainable Energy Economy Is Within Reach & We Should Accelerate It

HOW THE MASTER PLAN WORKS

01 Vehicle Design

Franz von Holzhausen, Lars Moravy

The Early Days

MODEL S

2012 Model S

1

2

3

1

2

DESIGN

ENGINEERING

MANUFACTURING

AUTOMATION

Model 3 Production Hell

Cybertruck

STEEL EXOSKELETON

Combining the Processes for the Future

1

DESIGN

ENGINEERING

MANUFACTURING

AUTOMATION

Stamp

Body

Paint

Final Assembly

Current Way of Assembling a Vehicle

Current Way of Assembling a Vehicle

G

450_LB

204

V

1

OKNIGHT

SERIES

Structural Pack Sub-Assembly

KG

More People Can Work Simultaneously on Next Generation Vehicle

44 %

Operator Density Improvement

30%

Space Time Efficiency Improvement

Parallel & Serial Assembly

Unboxed Process

Unboxed Process

Next Generation Vehicle Manufacturing Efficiencies

02 Powertrain

Colin Campbell

Faster Than a Porsche, More Efficient Than a Prius

Relentless Focus on Efficiency

Small SUVs (AWD) EPA Range in Miles/kWh

Efficiency Helps Us Scale

MODEL 3 POWERTRAIN FROM 2017-2022

20 %

Lighter Drive Unit

25%

Less Rare Earth Materials

75%

Smaller Powertrain Factory

65%

Cheaper Powertrain Factory

The Key: Holistic Thinking

Custom Microprocessor for High-Power Electronics Custom Designed Packages & Microprocessors for Power Electronics

Powerful In-House Software

KEY SIMULATION TOOLS DEVELOPED BY TESLA

Powerful In-House Software

KEY SIMULATION TOOLS DEVELOPED BY TESLA

Powerful In-House Software

KEY SIMULATION TOOLS DEVELOPED BY TESLA

75 %

Reduction In Silicon Carbide

ANY

Battery Chemistry Accepted

~$1,000

All-In Cost

50%

Reduction In Factory Footprint

Rare Earths Required

MODEL Y

~500g

Rare Earth 1

~10g

Rare Earth 2

~10g

Rare Earth 3

Rare Earths Required

NEXT GENERATION PERMANENT MAGNET MOTOR

0g

Rare Earth 1

0g

Rare Earth 2

0g

Rare Earth 3

Lower Cost & Higher E /ffi ciency Drive Units Using Zero Rare Earths

03 Electronic Architecture

Pete Bannon

Model S 2012

COMPLEX LOW VOLTAGE ARCHITECTURE

Progress So Far

From Model S to Model 3

IMPROVED LOW VOLTAGE ARCHITECTURE

Designed Our Own Controllers, With More To Come

% OF TESLA-DESIGNED CONTROLLERS

Switched From Fuse & Relay to Electronic Fuses

FUSE + RELAYS

Replaced Lead Acid With Lithium Ion Batteries

LEAD-ACID BATTERY

LITHIUM ION BATTERY

4-YEAR REPLACEMENT

LIFETIME

87 %

Mass Reduction

Reduced Costs of Model 3/Y Center Display

What's Next

The Future of Low Voltage Architecture

CYBERTRUCK, OPTIMUS, & FUTURE VEHICLES ALL 48V

Cybertruck

FURTHER IMPROVING LOW VOLTAGE ARCHITECTURE

CYBERTRUCK

Future of Tesla Low Voltage

04 Software

David Lau

Relentless Improvement Via Updates & Data Insights

LEFT HAND IMPACTS

Real World Crash Tests: Fewer Dummies, More Smarts

FRONTAL IMPACTS

Industry standard crash tests

RIGHT HAND IMPACTS

Enabling Plaid-Speed Product Development

123M MILES DRIVEN PER DAY | 1.9M CHARGE SESSIONS EVERY DAY

Total Vehicle Miles, All Platforms

Software That Spans the Entire System

Leveraging Vertical Integration

PREDICTIVE AIR SUSPENSION

Vehicle Software as an Integral Part of the Assembly Line

Moqe

Building the Foundations of Autonomous Fleet Management

TESLA PROFILES | SHARED PHONE KEY | LOGISTICS APP

Software Enables Efficiency, Cost Reduction & Speed

Enabling Robotaxi Fleet

Empowering Manufacturing

Reducing Service at Mass Scale

05 Full Self-Driving

Ashok Elluswamy

Architecture for a Generalized Vision System

Using State-of-the-Art AI for Modeling

Also Solve Complex Planning Problems Using AI

10ms

Joint Planning for Each Configuration

50ms

Desired Planner Execution Time

Automated Labeling by Multi-Trip Reconstruction

1

Automatically Produce Challenging Simulations

Church Street

Data Alone Can Improve Corner Cases

Tesla Fleet

Deploy

Triage Shadow Testing

DATA ENGINE

Mine Fleet

Corrrect Inaccuracy

Train Online Model

Train O /ffl ine Model

Simulation Auto Label Human Label

Evaluation Set

Training Set

14K GPUs

4K For Auto Labeling

10K for Training

30PB DISTRIBUTED VIDEO CACHE

160B Frames

500K Videos Rotating Through Cache/Day

400K Video Instantiations per Second:

OCCUPANCY NETWORK RECIPE

Pick 1.44B frames

Train for 100.000 GPU-hours at 90 C

Trained With Large Dataset Large Networks Need Large Clusters

Scalable FSD = AI + Data + Compute

Higher Utilization

Higher Safety

06 Charging

Rebecca Tinucci

How We Got Here

Industry's Lowest Deployment Costs

Pre-Built Superchargers Save Weeks of Install Time & Cost

40% Improvement in Per kWh Costs

Trip Planner Powers Efficient Routing

Wait Time Is Down & Site Utilization Is Up

2019

2020

2021

2022

aiting

omer W

t

% Of Cus

2.0%

1.0%

0.0%

200

150

100

50

0

t

h per pos

Daily kW

30% Quicker Charge Times

Charging the Fully-Electrified Fleet

Ready To Serve All Vehicles

Maximize Convenient, Renewably-Powered Daytime Charging

Hour of Day

Scale Capacity

More Renewable Charging

What It Takes To Get There

Open Up to Non-Teslas

Can't Forget To Do Cool S***

07 Supply Chain

Karn Budhiraj, Roshan Thomas

Tesla Supply Chain

TIER 1 PARTS

TIER 2 PARTS

3.4K

2.1K

2.8K

7K

21K

19K

The Most Powerful In-Vehicle Computer

7K+

Components

1.4ms

Between Each Component Assembled Into a Car Computer

95%

Reduction in Labor

Inbound Complexity

16M

Pallets & Racks Received in 2022

1B

Electronic Components Shipped Each Week

685

Global Service Locations

45

Countries

Why are to the so many queuing get US?

Global in 'reaches shortage chips

dampened by chip Car sales COVID measures

Supply Chain Hell

INDUSTRY for Car Makers BUSINESS Set to Worsen Global Chip Shortage TRANSPORTATION

'Its Not Sustainable : What America's Port Crisis Looks Like Up Close

Why the Chip Shortage Is So Hard to Overcome

The Global Fight Over Chips Is About to Get Even Worse

chain is growth. to get global worse Supply chaos already And hitting its about

The supply chain crisis and US ports: 'Disruption on top of disruption'

No End In Sight For The Chain Disruption

Scaling Against the Odds

Semiconductor Industry Can Support Our Growth

Tesla with FSD Hardware Uses More Semiconductors Than an ICE Vehicle

Before Heat Pump

Next Generation Thermal Architecture

HEAT PUMP

WHERE WE STARTED

WHERE WE ARE NOW

Evolution of the Heat Pump Line

400

200

Manual

Automated

Doing More With Less

99%

Reduction in labor

99.995%

Of heat pumps received at Tesla are of high quality

7 sec

Between each heat pump rolling off a supplier line

Fewer Parts, Fewer Components

Deep Involvement With Suppliers

Do More With Less

08 Manufacturing

Tom Zhu, Drew Baglino

We Build Ultra High Volume Factories

4

Vehicle Factories

65K

Manufacturing Employees

~2M

Total Annual Build Capacity

Completed Gigafactory Shanghai in 9.5 Months

First Million

12 Years

Hitting New Milestones in 2023

FOR TOTAL VEHICLE PRODUCTION

4,000,000

Fourth Million 7 Months

What It Takes To Ramp a Gigafactory

90% OVERALL EQUIPMENT EFFECTIVENESS & 45 SECOND CYCLE TIME

Output

Labor Hours

Question

Strengthened Feedback Loop Between Manufacturing & Service

(Last 6 Months)

11%

Time in Service Reduction

16%

Early Service Reduction

9%

Service Appointment Wait Time Reduction

Remove the minus sign from in front of each number since it says reduction in the unit

Austin

Shanghai

Tesla Vehicle Footprint

& MORE TO COME ;)

Berlin

Fremont

There Is No Spoon Future Cell Factories, Too

THERE IS NO SPOON

There Is No Spoon Future Cell Factories, Too

THERE IS NO SPOON

Simplicity Up, Investment Down, Scale Up

And Upstream Materials Where Necessary

50 GWh/Year Corpus Christi Lithium Refinery

STARTS COMMISSIONING END OF 2023

1

2

Build Production Lines Faster

New Waves of Production Lines Incoming

Manufacturing is the Cornerstone of a Sustainable Future

Ramp Faster Through Learnings

09

Energy

Drew Baglino, Mike Snyder

Building Mission-Aligned Projects Globally for 10 Years

Growth Is Accelerating

65% CAGR SINCE 2016

How Did We Get Here

MANIACAL FOCUS ON ALL ASPECTS OF DELIVERING STATIONARY STORAGE VALUE

Not Just a Big Box of Batteries

14 Years of in-House Power Electronics Expertise

1.4+ TW DEPLOYED

Retiring Fossil Fueled Power Plants With Software

ARCHIVE NEWS

'Undeniable success : South Australia's 129MWh Tesla battery

By Andy Colthorpe

December 6,2018

Southcas: Grla Scole Market Watch Policy Technology

Linkedlo

0

Facebook

Bloomberg

Secret Mega-Battery Into the Texas Grid

The utility-scale battery located outside of Houston will connect to the same grid that faltered February's freeze

March

2021

PST

From Hyperdrive

unrevealed construction of a gigantic battery connected t0 an ailing electric grid that nearly collapsed last month. The move marks Tesla

World Ist: Tesla Batteries Providing Inertia Services At Scale

Even

Tesla has a new product called 'Virtual Machine Mode' coming to its 'Big Battery'

Modo Energy

@ModoEnergy

10/ Congratulations to Contego ESS - 34MW/68MWh!

Contego utilised its 2-hour duration to capitalise on those high day-ahead spreads in addition to providing symmetric DC!

How Did We Get Here

RELENTLESS FOCUS ON SPEED OF EXECUTION

Build Megafactories Faster

FIRST MEGAFACTORY BUILT IN LESS THAN ONE YEAR

SEPTEMBER 2021 Construction Begins

6

Install Projects Faster

4X INSTALLATION & COMMISSIONING SPEED SINCE 2019

Tesla Electric Unlocks the Full Value of Distributed Energy & Storage

ENABLING OUR CUSTOMERS TO BECOME THEIR OWN UTILITY

$142/month

Default Utility Service

Cost of Providing Electricity to the Average Retail Customer

$69/month

Add Solar and Powerwall, without Grid Interaction

$130

Tesla Electric Value Creation

$61/month

Tesla Electric Real-Time Dispatch of Solar and Powerwall to Benefit the Grid

Tesla Electric Rollout Plan

Available Today

For homes with Powerwall in competitive retail electricity markets in Texas

Tesla Electric Rollout Plan

Coming in July to Texas

ing overnight

$3O/month

This Is Just the Beginning

Cumulative Tesla Storage Deployed

Impact at Tesla

01

Impact

Laurie Shelby, Brandon Ehrhart

Who We Are

The Team is Growing Rapidly

1/2 WORK IN MANUFACTURING

Total Applicants

US Engineering Students' Rankings

Engineers Want to Work Here

As Employee Engagement Increases, Safety Improves

2022

Sustainability & Impact is Everything We Do

Our Products Generate More Energy Than Our Products & Factories Consume

Tesla Cumulative Net Energy Impact: 2012-2021

Energy Produced

Tesla Solar Panels

Energy Consumed

Tesla Factories & Other Facilities

Energy Used at Tesla

Factories & Other Facilities

Energy Used to charge

all Tesla vehicles

25.39

25.27

(TWh)

Our Vehicles Emit Less Emissons Than Gas Vehicles

INCLUDING BOTH MANUFACTURING & USE

02 Financials

Zach Kirkhorn

We Continue To Reduce Cost of Our Existing Products

Model 3 Cost Per Car - Normalized

Cost Reductions Come From Everywhere

New Gen Vehicle Will Enable Step Change in Cost & Volume

Total Cost of Ownership per Mile Over 5 Years

Tight Operating Expense Control To Enable Operating Cash Flow

Excludes digital assets gain/loss, stock-based compensation, material one-time items 2021 figure excludes $340M payroll tax on CEO award option exercise

Industry Leading SG&A per Car Enabling Improved Affordability

Selling, General & Administrative Expenses per Vehicles

Traditional

Tesla

Benchmark: GAAP Operating Expenses, publicly traded OEM SG&A per vehicle + dealer SG&A per vehicle Publicly traded OEM SG&A includes average of GM, Ford, BMW, Toyota, Volkswagen, Mercedes Benz Dealer SG&A per car includes average of Autonation, Lithia, Group 1 Automotive, Sonic Automotive, Asbury Automotive

Efficiency Improvements

FINANCE CASE STUDY

Continued Improvement in Internal Process Efficiency

Efficiency Improvement

Performance & Capabilities

North American Sales 4x

4x

Order Operations

5x

Financial Services

Accounts Payable 6x

7x

Document Generation

Order Modification

Captive Lease / Loan Servicing

Captive Insurance

Real Time Data Visibility

10Q & 10K Timeline

We Expect our Pace of Investment to Scale With Operating Cash Flow Growth

1. Daily Operations

2. Growth

3. Opportunistic

4. Excess

Capital Allocation

Working Capital

Captive Financing (Market Gaps)

Downside Protection

Capital Expenditures (Elective)

Captive Financing (Elective)

Acquisitions

Debt Reduction

R&D Capital Expenditures (Growth)

Buyback / Dividend

Innovation Driven Cost & E /ffi ciency

Achieving the Master Plan

Improved A /ff ordability

Reinvest to Achieve Unprecedented Scale

Accelerate the World's Transition to Sustainable Energy

Gigafactory Mexico

MANUFACTURING NEXT GEN VEHICLE

Q&A

ENAEES