Tesla

Tesla Motors Investor Presentation January 2014 Jeff Evanson VP Investor Relations

Safe Harbor Statement Certain statements in this presentation, including statements relating to Model S demand, market share and gross margin; future manufacturing expansion, future store, service center and Supercharger network opening and expansion plans; and statements regarding future vehicles such as Model X and Gen III 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: delays in the ramping of production capacity and delivery of Model S, including the ability of suppliers to supply parts at desired quality levels and quantities; market acceptance of electric vehicles in general and new Tesla vehicle models, specifically Model S, Model X and Gen III; Tesla’s ability to control the costs associated with our business; Tesla’s ability to establish, maintain and strengthen the Tesla brand; Tesla’s ability to execute on its retail strategy and for new store, service center and Supercharger openings; potential difficulties in finding suitable Tesla store, service center and Supercharger sites as well as the risks and uncertainties identified under the section captioned “Risk Factors” in our quarterly report on Form 10-Q filed with the SEC on November 8, 2013. Except as required by law, Tesla disclaims any obligation to update information contained in these forward-looking statements.

Introduction

“Our goal when we created Tesla a decade ago was the same as it is today: to drive the world’s transition to electric mobility by bringing a full range of increasingly affordable electric cars to market.” -Elon Musk | CEO

Corporate Overview Founded: 2003 Employees: ≈6,000 Retail Locations: 100+ Tesla Electric Miles Driven: 190 million Headquarters Tesla Factory Tesla Assembly Design / Advanced Eng. Palo Alto, California Fremont, California Tilburg, Netherlands Hawthorne, California

Solid Foundation For Future Success Brand Partnerships IP Leadership Financial Management

Comprehensive Capabilities Direct feedback loop accelerates development Design Engineering Mfg Stores Service Charging Value Chain Customers

Tesla Culture Our Greatest Asset Move Fast Do the Impossible Constantly Innovate Reason from “First Principles” Think Like Owners We are ALL IN

Roadmap

Culture Drives Success Proven by Model S 1. Streamlined Development • Developed in ≈2 years • Cost to market ≈$650 million 2. Better vehicles • “The best car we have ever tested” Consumer Reports 3. Superior Economics • Profitable on low volume • 25%+ gross margin (LT target) Market share gains are the evidence

Leading F-Segment Vehicles US Units Sold YTD thru Q3’13 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 - Tesla Model S MB S-Class BMW 7-Series Lexus LS BMW 6-Series Audi A7 Porsche Panamera

Invest to Grow Vehicles, Production, Customer Support Vehicles Production Customer Support

Strong Growth Potential Tesla 2013 Market Share 2-3% of the U.S. premium auto market (with minimal penetration) ≈ 1% of the global premium auto market ≈ 0.02% share of the global auto market T

Expand Production Supply Chain & Capacity Suppliers Production Capacity

Customer Support Stores & Service 55 retail outlets in North America 24 in Europe 4 in Asia More stores & service centers coming

Customer Support Supercharging Today 2015 Free long distance driving, forever

Vehicles

s it Un Time

Tesla Product Strategy Better Driving at a Lower Price $$ $$$ s $$$$ it Un 3rd Generation nd 2 Generation st 1 Generation Time

0 - 60mph: 3.7 seconds • EPA Driving Range: 244 miles • Base Price: $109,000

Model S - Most Awarded Car of 2013

Your Only Car Most Capable & Convenient Over 80% of Tesla owners use Model S as their primary vehicle

Model X A New Vehicle Category Functionality, style & performance Dual motor AWD Starts production late 2014

Gen 3 Next Vehicle Platform Targets D-segment sedan Available in ≈3 years Base price $30-35K Tesla performance & range Category-leading gross margin

Corporate Capabilities

Design Inspired by the endurance athlete Blend of aerodynamics and beautiful design Incredible interior utility and cargo space Details: Door Handles, Charge Port, Key, Panoramic Roof

Vehicle Engineering Entirely in-house team All aluminum chassis construction (Extrusions, stampings, and castings) Lightweight, low center of gravity & high torsional rigidity 5-star NHTSA rating

Powertrain Engineering Integration Value: A system that is greater than the sum of its parts Small Cells Battery Inverter Motor Gear Box

Software Engineering Advanced software Core focus and Tesla DNA - Battery Management - Motor Control - Diagnostics - Touchscreen - Traction and Stability Control Customizable and upgradable

Powertrain Manufacturing Highly scalable Superior cost dynamics Trade secret methodologies Vehicle Manufacturing Efficient Multi-platform Superior ECO throughput

Reinventing Sales Distribution & Marketing Combined Superior customer experience Streamlined purchase process Direct relationship Capture retail mark-up More efficient Santa Monica Store

Reinventing Service Best Service is No Service Valet Loaner Service No Scheduled Maintenance Ranger Remote Service

Questions?