Ideanomics 1IdeanomicsOctober 22, 2020

NASDAQ: IDEXAnnual General Meeting of Shareholders

Driving Commercial EV Adoption

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Disclosure and Forward-looking StatementsThis presentation contains certain statements that may include 'forward looking statements’ within the meaning of federal securities laws. All statements, other than statements of historical facts, included herein are 'forward-looking statements.’ Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this presentation.

The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

The financial information and data contained in this presentation is unaudited and does not conform to the Securities and Exchange Commission's Regulation S-X. This presentation includes certain estimated financial information and forecasts that are not derived in accordance with generally accepted accounting principles (GAAP), and which may be deemed to be non-GAAP financial measures within the meaning of Registration G promulgated by the Securities and Exchange Commission.

The Recipient acknowledges that US securities laws prohibit any Person who has received from an issuer any material, non-public information from purchasing or selling securities of such issuer or from communicating such information to any other Person under circumstances in which it is reasonably foreseeable that such Person is likely to purchase or sell such securities.

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VISIONA vibrant new energy

landscape for a cleaner, brighter, future

MISSIONDeliver high-value products and

services to facilitate the adoption ofEV by commercial fleet operators

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Global EV Challenge Requires a Global Company

Beijing

Qingdao

Guangzhou

Ideanomics

US Operations &Global Headquarters

SoftwareServices Group

China Operations

Treeletrik

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2020 at-a-Glance

Strong growth in the consumer sector for EV Financial marketsbullish on EV overall, including nascent commercial sectorGlobal support for EV continues, with favorable policies

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Covid-19 disrupted business and personal livesTravel restrictions remain, Malaysia impacted heavily until todayRestricted offline commerce, which impacted MEG EV deliveries in Q1 and some of Q2

IDEX progressed the business despite a challenging 2020 and is well-positioned for growth into 2021 and beyond

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2020 DeliveriesSteady Growth in Units Delivered

13 97

626

Q1 Q2 Q3 Q4

Units DeliveredStrong 4th

Quarter expected

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Talent Acquisition

• Grown sales teams in China & Malaysia

• Talent investment in Operations

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2020 at-a-GlanceMilestones Achieved

Sales Operations

• Q over Q revenue growth

• Sales analytics group

• Cross-border reporting automation

• Global pipeline reporting and tracking

• US-import infrastructure

Marketing / Technology

• Chinese MEG website launching Q4

• MEG sales hub launched

• Internally: MEG, Treeletrik and Medici

Motor Works will all utilize

Other Operational

• Reduced corporate debt by ~50%

• Offloaded redundant assets in US

leading to cost savings of approx. $5M

per year

• Treeletrik land transaction closed

• Fintech Village land asset for sale

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2020 at-a-Glance Market Dynamics Driving2021 Outlook

Marketplace

• Strong interest at consumer level is fueling fleet operator interest

• Battery is key factor in everything from range to financing, battery as a service emerging in China and South Asia as key sales driver

• OEMs evolving to service full ecosystem

• China is critical to mainstream affordability for EV, supply chain is now mature

Technology

• Hydrogen Fuel Cell tech is garnering interest for long haul vehicles

• Charging networks are expanding, Level II home charging growing fast

• Cost of tech is coming down, as a result, big auto offerings for 2021 are strong

Policy

• Rebates are reducing as market matures, demand is strong in mid-market

• Governments globally are setting more aggressive timelines to retire fossil fuels

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Overview of Ideanomics’ Business Segments Going Into 2021

EV Subsidiaries Fintech Subsidiaries Media Subsidiaries

(JV w/ BBD)

Investments

Planned for divestment

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Ideanomics EV BusinessSymbiotic Product & Service Offerings well-positioned to take advantage of growth in EV sectorProduct

PartnershipsOEM

Ownership / Interests

Services (Mobile Energy Global)

Sales Financing Charging

Manufactured / OEMHydrogen (long haul)TruckBusPickup

4-WheelersTruckBusCarSpecialty Vehicles

Manufactured / OEM2-WheelersMopedsMotorbikes

Manufactured / OEMBEV TractorsOther brands BEV Tractors

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Investment in People Building the team for growth in 2021 and beyond

ONBOARDED in 2020• Augmented sales team

in APAC• Global Operations• H2FC - Hydrogen

Technology Expertise• CFO for Treeletrik

(from big Auto)

RECRUITING Q4• Additional APAC Sales• Global Supply Chain & Partnerships• Global Corporate Development• Global Marketing

RECRUITING 2021• Expand APAC sales team• North America sales team

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1.0

51.0

101.0

151.0

201.0

251.0

301.0

351.0

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Global Electricity Charging Demand in TWhWork Public slow Public fast Commercial

-

5,000,000

10,000,000

15,000,000

20,000,000

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Light, Medium & Heavy Truck Global SalesPetrol & Diesel BEVs & FCVs

-

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Taxi/Ride-Hailing Global Unit SalesICE BEV & FCV

-

50,000

100,000

150,000

200,000

250,000

300,000

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Bus Global SalesICE EVs & FCVs

Source: Bloomberg NEF

Industry Projections ICE vs. EV

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33%

3%

60%

4%

0%

10%

20%

30%

40%

50%

60%

70%

Leads, early discussions Order specifications /proposal / negotiations

Financing / contracts In delivery

% of Expected Revenue by Stage of Sales Pipeline

Current PipelineInnovative financing programs key to unlocking sales pipeline

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Planned for 2021: Battery as a Service (BaaS)Funding Consortium

Ideanomics CATL Funding Partners

BaaS Operation

Financing Battery Management Deployment

Mobile Energy Global (MEG)Customer Order Flow

Owned OEMsPartner OEMs Vehicle Battery Customer

Delivery

Vehicle Financing Partner

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Pipeline StatusKey deals currently in financing discussionsMedici Motor Works is targeting mines, ports, steel plants, airports and logistic companies as well as cities and tourism. These include:

Qingdao Port

Providing H2FCV light trucks, H2FCV logistics vehicles and BEV heavy trucks.

Mining

(Inner Mongolia and Yunnan Provinces)Providing heavy trucks and logistics vehicles for mining-related uses..

City BusesTour Buses

Buses

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MEGOverview Services business, based on S2F2C model to acquire large-scale fleet customers

Sales & Financing one-time revenues, Charging are recurring revenues

SALES4 Vehicle Segments:• Trucks & Specialty

Vehicles• Bus – Commuter & Tour• Vans – Delivery &

Logistics• Taxis & RidesharingSales fulfilled through:• Medici Motor Works• Treeletrik• Solectrac• Other brands, as

required

FINANCINGFinancing Types:• Business Loan• Lease Financing (finished

product)• Lease Financing (BaaS)• ABS refinancing• ABS financing of leasing

fundsFinancing channels:• Bank & Lease Financing

Lenders• Dedicated Funds for

Finished Product• Dedicated Funds for

BaaS• Investment bank

partners for ABS

CHARGINGApparatus Sales:• Charging Apparatus• Energy Management

Apparatus• Energy Storage

ApparatusEnergy Sales:• Pre-paid wholesale

electricity• Suitable for Depots,

Mines, etc.• Discounted Access to

Charging Networks• Suitable for in-field

charging• Discount & Loyalty

App/Card1 6

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MEG Center - Update

Renovations at the MEG Center in Qingdao are progressing. Next phase comes online in Q4, partners will join us in 2021.

Currently, MEG B2B sales and finance personnel active at the site in addition to the existing retail car business.

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Medici Motor Works - OverviewCost- efficient Hydrogen & BEV powered commercial vehicles

Medici is developing a line of hydrogen fuel cell heavy trucks and buses, as well as BEV commercial vehicles in partnership with leading OEM partners, using Medici's own hydrogen to fuel cell technology

Medici Motor Works expects to have its first BEV vehicles ready in Q1 2021, with Hydrogen-powered vehicles available in 2021.

Medici’s Competitive Advantage: PRICEThrough its proprietary technology and close relationships with OEMs, Medici will bring to market a cost-efficient vehicle in each class; aiming to save 15-20% of the purchase price and lifetime cost of ownership versus its competitors.

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North American Market - Timeline

November December H1 2021 H2 2021

Submission of EPA waiver application

Specification assessment for USA

certification

POC vehicle manufacturing

complete

USA certification follow up / final engineering POC vehicle(s) in Port

Newark, New York AreaUSA Homologation testing commence

Final testing completes / re-engineeringShipping first

homologated units to USArrival in Port Newark,

New York Area

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TreeletrikRight product, right placeTreeletrik is the only licensed pure-play EV manufacturer and distributor in Malaysia, focusing on high-growth ASEAN and South Asia markets.

Mission• Treeletrik will raise the bar for others in Malaysia and

the ASEAN region, introducing world-class innovations and standards in electric vehicles.

Market • ASEAN is one of the most populous areas in the

world • Heavily reliance on motorbikes for transportation

based on cost and traffic congestion.

Opportunity • Access to a portfolio of well-known Chinese

manufacturers for production capacity and sales/marketing collaboration

• Malaysia’s VTA is at EU standards and widely accepted

• around the world. • Expanding to include industrial and heavy trucks,

logistics vehicles, small utility trucks, buses, and taxis.

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SolectracExpanding Our FootprintLocated in Northern California, Solectrac develops and sells BEV tractors for agriculture and recreational markets.

Mission• To free farmers from the pollution, infrastructure

dependencies and price volatility associated with fossil fuels.

Market• The agricultural tractor market is a $75B market

globally• The North American market is expected to be

>$20B by 2023• The <40 HP segment is the largest segment (>

60%) of the agricultural tractor market• US sales in the <40 HP segment have grown

17.1% YTD vs the same period last year according to the Association of Equipment Manufacturers

Opportunity• Domestic and international sales and

distributions• Supply chain efficiencies

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M&AStrategy Accelerating our mission

EV Industry is moving FAST. Pursuing accretive M&A serves to accelerate the overall company strategy

EV PRIORITIES

• Enhance technology offerings

• Strengthen EV supply & distribution channels

• Charging & energy management solutions

• Accelerate EV adoption in new geos and categories

FINTECH PRIORITIES

• Target mature industries requiring disruption

• Loyalty, payments, and big data themes

• Synergies with the EV ecosystem

CHARACTERISTICS FOR M&A TARGETS

• Aligned with strategic priorities

• Synergy with existing businesses

• Domain expertise and integrity

• Stable, cash flow positive businesses

• Businesses with significant growth potential

• Businesses where IDEX can be a force multiplier

Ideanomics 2 3IdeanomicsOctober 22, 2020

NASDAQ: IDEX

Driving Commercial EV Adoption

THANK YOU!