M A R K E T

© 2024 ENERGY VAULT, ALL RIGHTS RESERVED

S u p p l y a n d D e m a n d a n d D e c a r b o n i z a t i o n C o n u n d r u m

M a k i n g S t o r a g e a n I m p e r a t i v e

W I N D P O W E R

S O L A R

P O W E R

L E G A C Y

P O W E R

D E M A N D F O R P O W E R

S U P P LY O F P O W E R

Growing

Less predictable

in magnitude & variability

with wind & solar

Storage - maintaining grid reliability as wind and solar become more pervasive

WELCOME & STATE OF OUR COMPANY

Robert Piconi

Chairman and CEO

© 2024 ENERGY VAULT, ALL RIGHTS RESERVED

1

A GEND A

S E C T I O N

S P E A K E R

S T A T E O F T H E C O M P A N Y

R o b e r t P i c o n i

C h a i r m a n a n d C E O

B A T T E R Y B U S I N E S S

A k s h a y L a d w a

C h i e f E n g i n e e r i n g O f f i c e r , E V S

E N E R G Y V A U L T & S O M F I R E S I D E C H A T

R o b P i c o n i & B i l l B a k e r

B R E A K

G R A V I T Y B U S I N E S S

M a r c o T e r r u z z i n

C h i e f C o m m e r c i a l

a n d P r o d u c t O f f i c e r

H Y D R O G E N B U S I N E S S

C r a i g H o r n e

V P A d v a n c e d E n e r g y S o l u t i o n s

S O F T W A R E B U S I N E S S

A k s h a y L a d w a

C h i e f E n g i n e e r i n g O f f i c e r , E V S

F I N A N C I A L R E S U L T S A N D 2 0 2 4 / 2 0 2 5 G U I D A N C E

M i c h a e l B e e r

C F O

Q & A

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2

C O M P A N Y

Our First Two Years … by the numbers

Revenue

Gross

Margin

9.9 GWh

Awarded/Short

Listed

2022 - 2023

$487M

Actual

16%

2.0 GWh 1.0 GWh

Contracted

In Operation

G R A V I T YB A T T E R Y H Y D R O G E N

China - World's first grid-scalegravity energy storage system

Site physical constraints for batteries and demanding schedule - met all deliverables

Public utility, Bring Your Own Battery (BYOB) and accelerated schedule - record setting

1st AC B-VAULTbattery deployment and accelerated commissioning and testing

All Projects on time, on budget, safe, with Quality

First-of-its-kindlong-durationhydrogen hybrid

Strong cash, no debt, no dilutive financings

microgrid - 30% below all other alternatives

© 2024 ENERGY VAULT, ALL RIGHTS RESERVED

3

C O M P A N Y

Results start with our people … and Leadership

" B e s t o f B r e e d " D o m a i n a n d F u n c t i o n a l E x p e r i e n c e - G l o b a l - S e r v a n t L e a d e r s - P a s s i o n a t e - H u m b l e

Robert Piconi

Andrea Pedretti

Gonca Icoren

Laurence Alexander

Michael Beer

Chairman, Co-Founder

Co-Founder &

Chief People

Chief Marketing

Chief Financial

& CEO

Chief Technology Officer

Officer

Officer

Officer

Josh McMorrow

Chris Wiese

Marco Terruzzin

Akshay Ladwa

Kevin Keough

Chief Operations

Chief Product &

Chief Engineering

Senior Vice President

Chief Legal

Officer

Commercial Officer

Officer EVS™

Corporate Development

Officer

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4

N e w R e g i o n s , N e w C u s t o me r s ,

C O M P A N Y

N e w P r o d u c t s , N e w M a r k e t S e g me n t s a n d T A M

Geographical and Customer Expansion

Expansion in China 3.7GWh of Projects

C H I N A

First 25MW 100MWh

Portfolio and Segment Expansion

New Application of Gravity

Technology that are:

1.Economically disruptive

G - V A U L T

Gravity Storage

Project Operational

EVo

EVy

2.Expand our TAM

Entry to Southern Africa

125 GWh potential

South African Development

S A D C

Community (SADC)

B - V A U L T

Entry to Australia

Battery Storage

Investor

H - V A U L T

A U S T R A L I A

2.6 GWh Total

(275 MW, 2.2GWh)

IPP

Hybrid and

Hydrogen Storage

EVu

Calistoga, CA

Snyder, TX

New Strategic Partnership:

EVc

Skidmore Owings & Merrill

OWN/OPERATE

New R&D Energy Solutions Center

© 2024 ENERGY VAULT, ALL RIGHTS RESERVED

5

A r o u n d t h e W o r l d i n 1 0 D a y s

A p r i l 2 5 t o M a y 3

C O M P A N Y

RIYADH, SAUDI ARABIA

A D V A N C E D E N E R G Y S O L U T I O N S C O M M U N I T Y :

"How will we meet the TW growth in demand from

Electrification and Generative AI processing sustainably?"

"The first set of charging and discharging units of the Rudong

100MWh gravity energy storage project was successfully tested…."

C H I N A T I A N Y I N G P R E S S R E L E A S E

© 2024 ENERGY VAULT, ALL RIGHTS RESERVED

6

C O M P A N Y

Annual global investment in the energy transition is at an all-time high. However, nearly all sectors are spending less than what's needed

+101%

+73%

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7

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Energy Vault Holdings Inc. published this content on 09 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 May 2024 14:17:07 UTC.