#1R ADVENT ADVENT Green HiPo Market Potential FF Naiem Hussain, Chief Investment Officer ADVE INVESTOR DAY 2022 DO ADVENT 9 ADV ADVENT ADVENT ADVEN ADVENT#2Green HiPo ADVENT Status ▪ Advent's Green HiPo project received notification from the Greek State on June 16 for funding under the IPCEI Hydrogen Technology. The notification from the Greek State was sent to the EU under the IPCEI framework. Upon EU ratification, total funding of euro 782.1 million for Advent's Green HiPo project will be made available over a period of 6 years. ■ . Notification received from Greek State on June 16 EU ratification forecast by end of July Year 1 2 3 4 5 6 Total Funding (euro million) 35.8 84.3 175.7 259.3 111.7 115.2 782.1 2#3Green HiPo ADVENT Highlights Green HiPo: Innovative Production of HT-PEM Fuel Cells and Electrolysers Total grant of 782.1m € Duration 2022-2027 R&D and Production Facilities Direct and indirect cooperation with approximately 20 European entities NOMEN ADVENT Market Potential Electrolysers: If Advent Green HiPo has 0.35% share of 400GW projected by 2030¹, then this gives cumulative electrolyser capacity of 1.5GW over 6 years. At an estimated electrolyser price of $300/kW, this gives cumulative revenue of $ 450m. Fuel Cells: If Advent Green HiPo has 0.07% share of 170GW projected by 2030², then this gives cumulative fuel cell capacity of 120MW over 6 years. At an estimated fuel cell price of $1,700/kW, this gives cumulative revenue of $ 205m. ¹https://www.rechargenews.com/energy-transition/repowereu-global-demand-for-hydrogen- electrolysers-in-2030-will-be-about-six-times-higher-than-available-supply/2-1-1182589 https://www.fch.europa.eu/sites/default/files/Evidence%20Report%20v4.pdf 3#4INSAGY G Global Hydrogen Projects 19 1 14 11 8 7 18 20 2 10 3 16 15 13 Twenty of the world's largest announced giga-scale green hydrogen projects. 1 HyDeal Ambition (67GW) | Western Europe 2. Unnamed (30GW) | Kazakhstan 3. Western Green Energy Hub (28GW) | Australia 4. AMAN (16GW)ª| Mauritania 5. Asian Renewable Energy Hub (14GW) | Australia 6. Oman Green Energy Hub (14GW) | Oman 7. AquaVentus (10GW) | Germany 8. NortH2 (10GW) | Netherlands 9. H2 Magallanes (8GW) | Chile 10. Beijing Jingneng (5GW) | China 11. Project Nour (5GW) | Mauritania 12. HyEnergy Zero Carbon Hydrogen (4GW) | Australia 13. Pacific Solar Hyrdogen (3.6GW) | Australia 14. Green Marlin (3.2GW) | Ireland 15. H2-Hub Gladstone (3GW) | Australia 16. Moolawatana Renewable Hydrogen Project (3GW)* | Australia 17. Murchison Renewable Hydrogen Project (3GW) | Australia 18. Unnamed (3GW) | Namibia 19. Base One (2GW)a | Brazil 20. Hellos Green Fuels Project (2GW) | Saudi Arabia Map source: Natural Earth. 2021#5Green HiPo ADVENT Green Hydrogen Economics: A Multi-Billion Dollar Opportunity Estimated market potential for hydrogen equipment and components, 2050 Production USD 60-65 bn USD 50-60 bn for electrolysers. including balance of plant USD 5-7 bn for capture technology Transformation USD 35-40 bn USD 21-25 bn for ammonia USD 16-20 bn for carbon- based compounds (e.g. methanol. synfuels. LOHC) Transportation USD 25-30 bn USD 5-7 bn for storage USD 5-7 bn for compression USD 2-5 bn for pipelines USD 11-15 bn for other distribution End Use USD 80-90 bn Transport USD 21-25 bn for fuel cells USD 11-15 bn for onboard storage USD 8-10 bn for combustion engines USD 3-6 bn for fueling stations Source: https://www.bcq.com/en-in/publications/2021/capturing-value-in-the-low-carbon-hydrogen- market Industry USD 16-20 bn for iron reduction and electric-arc furnace USD 11-15 bn for equipment USD 8-10 bn for heat and power generation Average annual funding potentially available for hydrogen projects, 2021-2030 Chile Portugal China Denmark Poland Spain Canada United States Norway Republic of Korea United Kingdom Italy France Japan Netherlands Australia Germany European Union 3 USD bn ■ Technology-neutral funds for which H2 projects can... Targeted support for H2 Source: https://about.bnef.com/new-energy-outlook/ L 5#6INSAGYG Operations, Excellence & ESG James Coffey, COO, & General Counsel INVESTOR DAY 2022 14 %% 00:00#7Operations Excellence & ESG INSAOY ㅏ Hydrogen & Fuel Cell Markets Booming Worldwide ● Globally, $38 billion annually is expected to be invested in hydrogen and fuel cells between 2020 and 2040 $1-$1.4 trillion in investment is needed by 2040 to meet decarbonization commitments Sources: $38 bnfact: 10-Kreport & ESG report www.mckinsey.com/industries/oil-and-gas/our-insights/global-energy-perspective-2022 H#8Operations Excellence & ESG ㅏ INSAGY 0 Address the 3Es: Energy Security, Economy, Environment. Annual Co₂ Emissions from Energy Use Gigatones Co2 / yeqr 80 70 60 50 Co₂ emissions abatement 40 by Non-OECD 30 20 10 O 1960 Today - 1980 2000 OECD 2020 Co₂ emissions by OECD countries -Non-OECD 2060 Business as Usual 2040 Source: Advent L.I.F.E proposal: LiFE Annex 1 3 Combined.pdf 95GT/year by 2100 2080 efuels 2100 2120 ADVENT Advent's strategy: Innovate Focus on Total Cost of Ownership (TCO) HT-PEM Superiority Curb Non-OECD emissions 3#9Operations Excellence & ESG ㅏ INSAGY 0 Operational Excellence ● ● LIVERMORE. CALIFORNIA, USA Portable Solutions .. ACHERN, GERMANY Production, Stack BOSTON. MASSACHUSETTS, HQ HQ, Ion Pair Advent around the world as one company. Senior management regularly travels to all locations. Task force focused value creation through operational excellence. AALBORG, DENMARK Solutions, Development ATHENS & PATRAS, GREECE Polymer, lon- Pair MANILA, PHILIPPINES Regional Sales Center 4#10Operations Excellence & ESG ADVENT 0 Advent Partner & Market Approach Focus on what we do best - technology and product development Build business on proven technology and industry expertise Collaborate with like-minded partners Provide world-class solutions 5#11Operations Excellence & ESG ㅏ INSAGY 0 Advent's Fuel Cell Is Fuel-flexible ADVENT COMPETITION COST per/KG LPG METHANOL BIOMETHANOL <$1 IMMEDIATELY AVAILABLE <$2 BLUEH2 <$2 GREEN HYDROGEN $4 LOHC $2 FUTURE EMETHANOL $2 EFUELS $2 The world needs low-cost, clean fuel solutions sourced with existing infrastructure#12Operations Excellence & ESG INSAGY ㅏ 0 Advent Fuel Cell Value Proposition CO₂ ↓↓↓ Reduction of CO2 X Limited maintenance 1) Noise ROI Lowering Total Cost of Ownership (TCO) & increasing Return On Investment (ROI) 12 BOO No SOX, NOX, black carbon etc. Versatile technology Ihm Ease of use AMMONIA H2 Carrier Fuels 7#13Operations Excellence & ESG ADVENT 0 Strategic collaborations and awards ● ● ● Advent is a world leader in developing advanced materials, components, and processes Creates energy, defense, and telecom fuel cell solutions Clients in U.S., Europe, China, and Pacific Rim Completed dozens of EU and nationally sponsored projects. } U.S. Department of Energy L'Innovator program: Advent and Los Alamos National Labs, National Renewable Energy Labs, and Brookhaven Labs working to commercialize next-generation HT-PEM technology "ARPA-E" OPEN Award Advanced Research Projects Agency-Energy: Advent collaborated with Toyota Motor North America R&D, Los Alamos, University of Texas at Austin, Rensselaer Polytechnic Institute, and University of New Mexico to develop next- generation HT-PEM fuel cells for the automotive industry U.S. Department of Defense Honey Badger: 50 W reformed methanol wearable fuel cell power system selected by the U.S. DoD National Defense Center for Energy and Environment for demonstration/validation program. Northeastern University Development of MEAs for low-cost electrolyzers (green hydrogen production). 8#14Operations Excellence & ESG ADVENT 0 Supply Chain Value Creation Approach ● Engage and work with contractors and suppliers that also act in an environmentally, and socially responsible manner Ties to local communities - we work with local suppliers and contractors whenever feasible Key partnerships established with BASF and De Nora on key components sourcing and future scale-up KVG#15Operations Excellence & ESG ADVENT 0 Memberships & Excellence ● ● ● ● ● ● ● ● Hydrogen Europe Methanol Institute The Fuel Cell and Hydrogen Energy Association American-Hellenic Chamber of Commerce German Intelligent Mobility Association Confederation of Danish Industry E4ships Aalborg Alliancen Energy Cluster Denmark CAN in Automation (CIA) Brintbranchen Hydrogen Denmark Clean Power Net SYSTEM CERTIFICATIO QUALITY DNV GL ISO 9001 Since 2017, Advent Technologies A/S has adopted the ISO 9001:2015, Quality management system 10#16Operations Excellence & ESG ㅏ INSAGY 0 Manufacturing scale-up Massachusetts, U.S.: The Hood Park facility is scheduled to be operational in Autumn of 2022. Hood Park will allow Advent to scale-up and meet increasing global demand. Patras, Greece: Upgraded facilities to produce the necessary materials for MEAS. Patras upgrade will enable Advent to soon support production of nearly 1 MW of power per month. DIRNE MICHAN PUTEX P#17ADVENT Operational Excellence ESG Highlights 12#18ESG Highlights INSAGY ㅏ 0 April 2022: Published Advent's first ESG report ADVENT ESG Report 2021 Advent Technologies Holdings Inc. ADVE 13#19ESG HIGHLIGHTS ㅏ INSAGY 0 Our approach to sustainability REDUCE CREATE BECOME Reduce carbon footprint through use of HT-PEM fuel cells Create a circular economy by recapturing and recycling old fuel cells Become more sustainable by meeting sustainable development goals 1 7 NO POVERTY M AFFORDABLE AND CLEAN ENERGY 13 CLIMATE ACTION 2 8 ZERO HUNGER SSS DECENT WORK AND ECONOMIC GROWTH M 14 LIFE BELOW WATER 3 9 GOOD HEALTH AND WELL-BEING Wo INDUSTRY, INNOVATION AND INFRASTRUCTURE 15 LIFE ON LAND 4 10 16 QUALITY EDUCATION REDUCED INEQUALITIES PEACE, JUSTICE AND STRONG INSTITUTIONS 5 11 17 GENDER EQUALITY SUSTAINABLE CITIES AND COMMUNITIES PARTNERSHIPS FOR THE GOALS 6 CLEAN WATER AND SANITATION 12 RESPONSIBLE CONSUMPTION AND PRODUCTION со SUSTAINABLE DEVELOPMENT GOALS 14#20ESG HIGHLIGHTS ADVENT 0 Energy Savings, Leed And Well Certifications ● ● ● Advents seeks to realize energy savings whenever possible. We deliver electricity back to the grid and rely on green electricity where possible. Our Boston HQ at 200 Clarendon Street has a gold level LEED certification and we are working towards platinum level WELL certification.#21ESG HIGHLIGHTS ADVENT 0 Recycling and Waste Disposal Non Hazardous Hazardous 13,000 14,000 15,000 Hazardous INon Hazardous Form of treatment Recycling Incineration Faction group Packaging cardboard Hazardous Waste Iron and Metal Food waste Other waste Paper incl. newspapers Small equipment Hazardous Waste Suitable for combustion Total Total Quantity (kg) 1,700 663 8,459 1,078 980 64 1,490 4,489 9,200 28,123 *Numbers as of December 31. 2021, Advent A/S 16#22ESG HIGHLIGHTS ㅏ INSAGY Society - Human Capital Aalborg, Denmark San Francisco Bay Area, USA 40 employees in the USA 61 employees in Denmark Boston and Charlestown, MA, USA * Numbers as of June 30, 2022 Employee break-down per location 0 183 total employees Sar energy Achern, Germany 18 employees in Germany Patras and Athens, Greece 38 employees in Greece 26 employees in the Philippines Manila, Philippines 17#23ESG HIGHLIGHTS ADVENT 0 Society- Training and Development 78% of Advent employees participated in training and development programs in 2021: Professional skills improvement Human rights Ethics Health and safety issues on all laboratory processes Technological expertise Enhanced cooperation with academia and research institutions for internship ● ● ● ● ● programs. ● ● ● ● University of Patras University of Rennes University of Bern New England School of Law Massachusetts Institute of Technology •* Numbers as of December 31, 2021 caractellen N SerEnergy Academy#24ESG HIGHLIGHTS ADVENT 0 Advent's social commitment We are committed to community engagement at all locations. ● Advent supports local economies - its operations create value and employment opportunities. Our goal is to be a trusted partner where we operate. Advent is committed to fostering a dialogue with local committees To guide our commitment to society and active community participation we: ● ● ● Promote local employment; Support local organizations; and Strengthen local economic development 9 ADVENT STANLEY STANLEY ISHA STAKE STANLEY#25ESG HIGHLIGHTS INSAGY ㅏ 0 Governance - Business Ethics ● ● ● ● Code of Business Conduct & Ethics Whistleblower and Complaint Policy Insider Trading Policy Anti-Fraud Policy Related Persons Transaction Policy III 000000 000000 ESG ENVIRONMENTAL, SOCIAL COVERNANCE HHH#26ESG HIGHLIGHTS ADVENT 0 Summary The provision of clean energy is our global objective. Advent's fuel cells can fulfill the global need for low-cost, clean fuel solutions sourced with existing infrastructure. We partner with governments and the world's greatest companies, aiming to couple our advanced electrochemistry and engineering expertise with a global scale of operations and manufacturing footprint. We pride ourselves in being a forward-looking company, putting ESG at the center of our corporate strategy. 21#27ADVENT Business Development & Growth Chris Kaskavelis, CMO INVESTOR DAY 2022 S#28INSAGY Business Units Stationary Power Systems ✓ Replace the Diesel Generator Mobility ✓ Trucks ✓ Aviation ✓ Marine Portable Power Systems ✓ Infrastructure, Surveillance, Defense Electrolyzers ✓ Green Hydrogen Production H₂ 2#29ADVENT Business Unit Stationary Power Systems ✓ Replace the Diesel Generator [² FUEL OUT SereneU-5 powered by Sertenergu FUEL IN Sertenergy 3#30Stationary Power Systems INSAGY G Replace the Diesel Generator Now with Lower TCO ● Telecom Backup Power for Off-Grid/ Bad-Grid. Diesel Genset Replacement Combined Heat & Power (H2-powered buildings) Diesel Genset Market $37bn/yr 2027" 1000 800 600 400 200 0 Advent SereneU Fuel Cell Advent SereneU System runs on green fuel Annual generator sales for stationary applications lin 1.000 units] I 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Telecom ■Industrial Commercial Residential 4#31Stationary Power Systems INSAGY G Telecom Tower Backup Power ● ● 1.18 million towers globally need backup power Growth in number and power needs (due to 5G deployments) License to Operate: Government mandates & ESG agendas of Telecom companies expected to result in the replacement of diesel generators CAGR [%] -0.1 Total number of off-grid and bad-grid towers Off-grid Towers Bad-grid Towers 7.6 7.4 7.2 7 6.8 6.6 6.4 6.2 6 791,000 389,600 0.1 2020 Market share and growth by generator size x 15kW = 18GW Up to 5 kW el 5 to 10 kW el 0.2 0.3 Market Share 10 to 15 kW el 0.4 15 to 20 kW el 0.5 0.6 LO 5#32Stationary Power Systems ADVENT EUR/LITRE USP: "Any Fuel. Anywhere." Logistics: Serene can use biomethanol, e-methanol, biomethane, rNG, ammonia. "The fuels of tomorrow, today" Fuel Price: Diesel/eFuel price evolution favors Serene Quiet Power for Rooftops ● 4.5 3.5 3 2.5 2 1.5 1 0.5 1.5 0.6 2022 2.01 0.45 2025 2.7 0.39 2028 0.36 2032 Diesel Cost Green Fuel Cost Advent SereneU Fuel Cell H₂ wet FI Advent SereneU System runs on green fuel#33Stationary Power Systems ADVENT Total Cost of Ownership: Fuel Cell vs Diesel Genset Advent 2024 $0.9/kWh Service H₂ Fuel Capex ↓ 95%+ GHG reduction vs diesel with e-methanol Diesel Genset $1.5/kWh Service Diesel Capex 450 € 400 € 350 € 300 € 250 € 200 € 150 € 100 € 50 € 0 € -50 € Cumulative Cost of Multiyear Deployment: (cost in 000s. 3.75kW, 10year operation, 24hrs/day) I 1 2 3 4 5 6 Fuel Cells - TCO acc 7 8 Diesel Genset - TCO acc ■ROI 10 7#34ADVENT Philippines Deployment SERVICE AREAS Sales POC, TCO System Installation Remote Monitoring Repair & Maintenance Fuel Supply Fuel Delivery Logistics & Warehouse More than 30 engineers and technicians, experienced in installations and maintenance, ready to travel all over Asia. Philippines Malegere Davao Cavite City Obando Navotas Meycauayan Valenzuela Malabon 00 000 Manila 08 Bacoo Las Piñas FEE m Quezon City Parañaque ******* LAU NOVALICHES 00 Maluyong allows quig Marikina ADVENT Rodriguez Antipolo Angono Lakeside Park#35Stationary Power Systems ADVENT Moving from Direct Sales & Service to Channel Partners Đ ADVENT TOWERCOS OEMS Telcos OEM Relationships Germany, Indonesia, Philippines, Malaysia, Taiwan, Thailand. United States, Egypt, South Africa, Latam, Japan, India, China CURRENT ~1,000 systems deployed TARGET 2,000 new systems in the next 18 months PIPELINE 17,000 towers#36Massive Growth Opportunity ADVENT Massive Growth Opportunity Systems Direct Sales 5,000 X x Channel Partners 50,000 X Power 20 kW 20 kW חחחחחחח Opportunity 100MW LLLLLL K Xxx uwww 1,000MW Revenue: $1,000s/kW Gross Margin: lower CAPEX & OPEX: higher Revenue: $100s/kW Gross Margin: higher CAPEX & OPEX: Lower#37ADVENT Business Unit Portable Power Systems ✓ Human-portable, lightweight power for surveillance, critical infrastructure, and defense 11#38Portable Power Systems ADVENT Portable Power for Defense In development with US DoD funds with low-rate production starting next year and higher volumes expected in the future ● ● ● Has passed numerous military standard tests at Ft. Bragg NC and Ft. Benning GA Ability to operate On-the-Move and in extreme environments Potential strong demand in line with multibillion IVAS (Augmented Reality AR) US Army Program New Contract with PM-IVAS to fund product enhancements to meet evolved requirements Reduces weight vs batteries by 3x to 25x on missions. Designed for long-duration operations Windshield Washer fluid as fuel! - Simple Logistics HONEY BADGER 50 POWER GENERATION & BATTERY CHARGING ON-THE-MOVE#39Portable Power Systems ADVENT Remote Power for Critical Infrastructure ● ● The first application is focused on the Canadian Oil & Gas Market Partnership with Calscan, leader in the market System developed according to specs (operation at extreme environments) First units are expected to be tested and deployed in 2022 with strong demand expected (driven by regulation) in 2023-2024 Power for Winter for Control Systems Significant reduction in O&G well site emissions (up to 40 Mt carbon dioxide per year) Fueled by methanol (widely available at wellheads) M-ZERØ ADVENT Z A#40Portable Power Systems ADVENT From Defense to the Markets of the Future Innovative Technology is initially supported by Defense budgets $10-20 mn Development Funds 2020-2023 Bring Technology to other massive growth markets Drones Firefighting Agriculture Augmented Reality • Surveillance Robotics ● High-Margin and Uniquely Differentiated Niche Markets $2 bn a year by 2027 S H 14#41ADVENT Business Unit Mobility ✓Next-Generation Fuel Cell Technology for Trucks, Aviation, and Marine FEES 15#42Mobility ADVENT Mobility: Enabling Tier1s and OEMs One Technology. Many Applications. Advent next-generation Fuel Cell DIGI-TRONIC Advent MEA Heavy-Duty Automotive Aviation Marine Train 16#43Mobility ADVENT Market Feedback for HT-PEM Heavy-Duty Mobility Aviation Marine Locomotive Power 100s of kWs MWS MWS MWS Heat Rejection= Efficiency Multifuel Extreme Environments Convert Market Need to Strong Profitable Partnerships with Immediate Revenue for Development of Systems. Progress to "License + MEA" business model 17#44Mobility ADVENT Advent has the Technology. Tier1s and OEMs need a System Ready for Mass Production Advent develops core technology in-house. Advent develops application/market-specific system, certified for operation. - MEA Fuel Cell Technology 18#45Mobility ADVENT Joint Development Agreement - Partnership Direction Development Phase ADVENT Fuel Cell System Co-Development Production Phase Manufacturing Know-How Transfer MEA Supplier License Technology Production Phase Tier1/OEM Partner has the right to brand, manufacture locally, price, sell under own brand the system to the - specific market /application SEBEL#46Mobility ADVENT Advent Business Model in JDAs Partners 1. Advent: Manufacturer of MEAS & development of fuel cell systems 2. Tier 1/OEM: System manufacturing scale up and commercial expansion Prototype Phase: Advent develops specific prototype fuel cell system for application/market Year 1 Engineering Fees Year 2 OEM focuses on manufacturing & marketing preparation Early Production Phase: Advent manufactures MEAS and licenses out fuel cell technology to Tier 1/OEM Year 3: 30 MW Licensing fees MEA sales Year 4: 120 MW Mass Production Both Parties scale up their production Year 5: 450 MW Mass market scale- up - to 100k+ units Licensing fees MEA sales Year 6: 750 MW Licensing fees MEA sales Year 7: 1 GW 20#47Mobility ADVENT Strategic Partnerships Progress Hyundai Technology Assessment 2. Other Top Automaker Technology Assessment In discussions with many world-leading conglomerates across Automotive, Aviation, and Marine 1. 3. ADVENT HII#48ADVENT ADVENT Growth Strategy Advent is an innovation and enabler company that brings HT-PEM technology to the mass market through strategic partnerships with world leaders in the mobility and power- generation markets. The company will invest in innovation and manufacturing in the areas of MEAS and Fuel Cell Technology where it can achieve high differentiation and market impact. 22#49Growth Strategy ADVENT Innovation & Investment Drops Cost Demand Follows $/kWh 4-5 3.5 3 2.5 2 1.5 1 0.5 2021 Continuous improvement 2022 2022 Crisis 2023 2024 New MEA 2x-3x power 5x lifetime 2022 2025 2026 2027 CO2 penalties increase H2 cost expected to drop to $2/kg 2028 CO₂ 2029 H₂ 2030 $/kWh are indicative and market/application-specific -$/kWh Cost produced by fossil fuels -Advent $/kWh Cost produced by eFuels (H2) 23#50People ADVENT People 90² ● Senior VPs (from fuel cell industry) for Strategic OEM and JDA deal focus • Dedicated Salesforce for Serene Telecom Stationary Systems and Portable Systems • Focus on strategic partnerships vs direct sales on mobility Partnerships, EU, DOE, DOD ADVENT 24#51ADVENT ADVENT 2022 Outlook ● Majority of Sales expected in Q3 and Q4 Sales will depend on the speed of execution of framework agreements with telecom operators Revenue in the form of development fees from joint development agreements Expected support from R&D and Government grants, as part of the $23m revenue and grants target 25#52ADVENT Technology Dr. Emory De Castro, CTO INVESTOR DAY 2022 Hadda G#53Technology ADVENT HT-PEM Fuel Cell Technology HT-PEM fuel cells run hot (120-160°C) Competitive Advantage: Low TCO • Multifuel: can use any H2 fuel or biofuel Lifetime: performs at extreme conditions Efficiency: suitable for heavy-duty applications Fuel Cell Stack MEA 2#54Technology ADVENT Multifuel = Opex & Capex Reduction SUN WIND WASTE PRODUCTION Green H2 CONVERT FOR TRANSPORTATION eMethanol LOHC Ammonia Renewable Natural Gas Biomethane Biomethanol Green H2 ADVENT HT-PEM FUEL CELLS APPLICATIONS Trucks Marine Aviation Off-Grid Buildings 3#55Technology ADVENT Liquid H2 tank Multifuel capability enables wide and immediate market ● Marine will use eMethanol or Ammonia. Cannot Pack the H2 needed in a ship. Same for Aviation. Liquid hydrogen is 2.6 kWh/liter while methanol is 4.3 HD-Automotive & Trains would benefit from fuel flexibility to reduce cost per mile Buildings can move from NG to NG/H2 blend to pure H2 gradually with same technology Off-grid power, remote & portable power for defense, infra and surveillance need liquid clean fuel like eMethanol for Logistics eMethanol fuel cartridge Fuel tank 4#56Comparison of Fuel Cells ADVENT Best in Class for HD Transportation SOFC Efficiency Startup time Fuel flexibility Power Density Water needed/ run dry Cost reduc potent. High Long Medium, low sulphur tolerance Medium Start up/yes Medium MCFC Medium Long High Low Yes / no Low PAFC Medium Moderate High Medium None Low LT PEM Medium Fastest Low High No / No High ADVENT HT PEM High Fast High High No / No High 5#57Technology ADVENT HT-PEM = Long Lifetime. ADVENT HT-PEM LIFETIME / 60 [HR TO 10% VOLTAGE LOSS] FUEL FLEXIBILITY [CO TOLERANCE / 1000 (PPM)] RESILIENCE - HIGHEST TEMP 200 100 LT-PEM RUNS HUMID OR DRY [% RH DELTA] PEAK POWER/ 10 [mW/cm2] Wet- Dry HT PEM: 80% RH DELTA LT PEM: 50% RH DELTA Works ANYWHERE Reliance to heat HT PEM: upper operating T = 200-240 °C LT PEM: upper operating T = 80 °C Lifetime (time to 10% voltage drop) HT PEM: 10,800 hrs LT PEM: 3,600 hrs Resistance to pollution and hydrogen impurities HT PEM: can function with up to 4% carbon monoxide LT PEM: 10 parts per million Hot/Dry Polluted Air Humid Cold#58Technology ADVENT High Temperature = High Efficiency Aviation: We cannot fly unless we go HT-PEM. Heat-exchange inefficiency will make flight impossible • Trucks: Radiators to run big trucks in the desert, (and any hot environment) are not existent or efficient Buildings: with HT-PEM we have quality heat and hot water. Cannot do this with lt-pem High Temp Operation = Efficiency and Simple Design Anywhere means the fuel cell has fewer, more simple sub systems, lower maintenance, and lower MTBF box Lover 7#59Technology ADVENT How Advent Developed the HT-PEM Technology First LT-PEM fuel cells 1960s Acquisition of UltraCell. Serenergy and fischer eco solutions GmbH 2021 Advent HT-PEM Gen 1 2006 Silicon Valley product dev for next gen fc system R&D with NASA, ESA, DOE ESA DOE 2012 NASA New Boston & Europe production facilities under construction Advent-BASF HT-PEM Gen 2 2013 BASF Successfully demonstrates ion pair alone and in system Honey Badger DoE selects Advent for L'Innovator Joint Dev. Program 2018 LOS ALAMOS BROOKHAVEN Mobility next-gen Fuel Cell under development NREL Enters into tech assessments and aims to bring ht-pem to all key markets with partnerships scale up production to GWS HT-PEM Gen 3 launch with LANL 2021 New tech in HB and Serene (own systems) will drop cost and increase Lifetime massively مند 8#60Technology ADVENT Advent Has Assembled a 200-Strong Team of Top Materials Scientists and Fuel Cell Engineers For the last decade and more we are solely focused on developing the next generation of fuel cell technology Development/manufacturing hubs in Boston, Silicon Valley, Denmark, Germany, Greece ✓ 190 patents issued, licensed, or pending ✓ Strategic Partner of the U.S. Department of Energy (DoE) and U.S. Department of Defense (DoD). ✓ Awarded exclusive program with Los Alamos, Brookhaven, National Renewable Energy Laboratories to commercialize game- changing materials (MEAS, Catalyst)#61INSAGY Advent FC Systems SereneU: Stationary Power systems ✓ Replace the Diesel Generator DIGI-TRONIC: Mobility ✓ Trucks ✓ Aviation ✓ Marine Honeybadger ✓ Surveillance, Infrastructure, Defense M-Zero ✓ Remote Area Power System ✓ Mission-Critical Applications#62Systems ADVENT Fuel Cell Supply Chain We make the MEAS The "heart" of the fuel cell Design and manufacture the fuel cell stacks Membrane Electrode MEA Fuel Cell Stack Bipolar Plate Reformer- HT-Stack The complete fuel cell system that is ready to ship Core Unit Electro- mechanical Unit Power Electronics / Control Unit We design and manufacture systems for different market needs Stationary Power Portable & Remote Power TE Mobility 5#63Systems ADVENT Serene Power Systems Technology • HTPEM fuel cell operated on methanol System • Modular system in building block of 5 kW. System availability: 5-20 kW Tank size is 200L to 4,000L equivalent to 220kWh to 4.400 kWh of electrical energy. Why a modular system? • Having a modular system enables easy replacement, in case of repair/service. ● 5 kW Unit Easy mount and un-mount units for simplified field service. No fuel cell experience needed. Service and repair can do done at a certified local service center. 5 to 20 kW System#64Specialists ADVENT Advent's MEA Team Are Electrochemistry Specialists 1. Membrane: highly selective synthesis and machine casting of performance polymers 2. Electrode: creating optimum structures for high current and catalyst utilization 3. Lamination: automation team for high- speed assembly of membrane electrode assemblies and stacks CLUD PROUP 13#65Scale-up ADVENT $/kW Scale-up Manufacturing of MEA Steep decline in price as volume increases $900 $800 $700 $600 $500 $400 $300 $200 $100 $- 2023 2024 2025 2026 2027 2028 2029 2000 1800 1600 1400 1200 1000 800 600 400 200 MW/year -$/kW -MW/year wwwww#66DIGI-TRONIC ADVENT DIGI-TRONIC: Simple Design & Low-cost Manufacturing M CONFIGURABLE TO MARKET AND APPLICATION NEEDS: EMOTOR+FUEL CELL -H2 AS FUEL EMOTOR+FUEL CELL+REFORMER - EFUEL TANK EMOTOR-EV BATTERY-FUEL CELL RANGE EXTENDER ✓ HIGH-VOLTAGE 350V-800V ✓ INDIVIDUALLY DIGITALLY CONTROLLED CELLS FOR LONG LIFETIME AND REDUNDANCY ✓ SKATEBOARD DESIGN - FLEXIBLE FORM FACTOR 1G-2 SMART CARGO INT'S#67DIGI-TRONIC ADVENT Efficiency: Superior Heat Management /Removal J M ✓ Advent fuel cell operates at 80°C-200°C: Innovative thermal controls are used including smaller radiators and compact cooling circuits for stack and system. Will run efficiently in the Arizona desert.#68Next Gen MEA and Systems ADVENT From Innovation to TCO Higher Power Density Higher Lifetime TCO 6X Lower kW 35 30 25 20 15 10 5 10kW 2022 2023 -Lifespan -Power -TCO 30kW 2024 2.50 € 2.00 € 1.50 € 1.00 € 0.50 € 0.00 € $/kWh 17#69Technology ADVENT Summary Advent's HT-PEM fuel cell technology is multifuel capable, can perform at ambient conditions, and is particularly suitable for heavy-duty applications. The multifuel capability enables wide and immediate market adoption. • Advent is jointly developing the new Advent MEA in collaboration with the U.S. Department of Energy. Advent's HT-PEM has significant advantages over LT-PEM, SOFC, MCFC, and PAFC. • Advent aims to revolutionize mobility by replacing the diesel generator and the internal combustion engine with DIGI-TRONIC. • Advent's Boston-based team is working on the MEA manufacturing scale-up. • Advent has assembled a 200-plus team of top material scientists and fuel cell engineers. • Advent now covers the full supply chain of its products. ● 18#70INSAGY Advent's Path to Growth Dr. Vasilis Gregoriou Chairman & CEO INVESTOR DAY 2022 HYDROGEN T H₂#71Path to Growth ADVENT Vision and mission Our Vision We believe that the world can decarbonize quickly with green hydrogen and fuel cell technology Our Mission Bring the HT-PEM technology to the market and enhance energy independence, by building world-class fuel cells and electrolysers with low total cost of ownership and high environmental impact. H#72Path to Growth ADVENT Irreversible Path To Fossil Fuel Replacement 00 Europe RePowerEU "Hydrogen Accelerator" B H₂ 17.5 GW of electrolysers by 2025 10 million tons of renewable hydrogen H₂ captive production 2 by 2025 (increasing to 20 million tons in 2030). €113 billion for renewables (€86bn) and key hydrogen infrastructure (€27bn) by 2030 €300 billion (50 billion for H2 technologies) to specifically make Europe independent of Russian natural gas Sources: https://ec.europa.eu/commission/presscomer/detail/en/IP_22_3131 U.S. CO2 https://www.energy.gov/articles/doe-launches-bipartisan-infrastructure-laws-8-billion-program-clean-hydrogen-hubs-across H₁₂ 50-52% reduction goal from 2005 levels in economy-wide net greenhouse gas pollution in 2030. Bold executive action recently taken by U.S. President Biden to spur clean energy manufacturing. $8 billion program from the U.S. DOE to develop regional clean hydrogen hubs across America through. https://www.whitehouse.gov/briefing-room/statements-releases/2022/06/06/fact-sheet-president-biden-takes-bold-executive-action-to-spur-domestic-clean-energy-manufacturing/ 3#73Path To Growth ADVENT What We Must Do Produce green hydrogen: electrolyser global capacity has to increase massively. Advent's Green HiPo is well positioned to meet this need • Use e-methanol, ammonia, LOHC and all liquid hydrogen carriers, biomethane and efuels ● Advent's technology does not need pure hydrogen to operate and because it works with hydrogen carrier fuels, does not require a trillion-dollar infrastructure to begin deployment H₂ 2#74The Time Is Now ADVENT The Time For Fuel Cells Is Now The end of diesel is fast approaching Small cars will run on batteries Trucks, marine, aviation and large scale power generation will run on fuel cells • We'll need to replace substantially all our engines and all our fuels in the next 15 years H₂ 2 5#75The Time Is Now ADVENT What we must do Make fuel cells cheaper • Most of the world's population cannot afford to switch to more expensive solutions just for the environmental impact First address areas where batteries fail off-grid, large scale storage, heavy-duty mobility M-ZERØ ADVENT L ADVENT ADVS#76The Time is Now ADVENT Advent Is Uniquely Positioned As An Enabler What they sold in 2020 is not what they'll sell in 2030 • There are only a handful of high-tech companies on the planet that have strong fuel cell expertise. Advent is one of them • Advent has the next-generation of technology for many markets. We have partnered with the EU. US DOE, US DoD and plan to partner in Japan and South Korea with the top institutions and world- leaders • We transfer Manufacturing and Systems know- how to Tier1s/OEMs so that they can produce locally and own system brand ADVENT H₂000 CE 13#77Advent's Team ADVENT Our People Vasilis Gregoriou Chairman & CEO Nora Gourdoupi SVP, Corporate Business Development Emory De Castro CTO lan Kaye SVP, Product Development Kevin Brackman Europe CFO Morten Hougaard Sørensen SVP, Advent Technologies A/S Chris Kaskavelis CMO Daniel Hennig SVP, Advent Technologies GmbH Warren Brower Hechem Nadjar Vasilis Kopelas Alan Kneisz VP, Business Development, North VP, Business Development, VP, Business Development (Green VP, Business Development, America Mobility) Asia Jim Coffey General Counsel & COO Preben Rasmussen VP, Advent Technologies A/S Per Arild VP, Sales, Marketing & Business Development Naiem Hussain CIO Jochen Baurmeister CTO's Office George Paloumbis Director of Manufacturing 8#78Markets ADVENT 100 kWh Markets: We already sell systems in Stationary (Telecom and Marine) and in Portable (Defense and infrastructure) ENERGY: BATTERY EV 4hrs GRID POWER TRUCKS, BUSES H2 (PURE) AVIATION 12 hrs OFF-GRID & PORTABLE days Autonomy H2 (PURE, REFORMED, LOHC), METHANOL, E-FUELS, NATURAL GAS) 9#79Markets ADVENT Markets: We Are Expanding To Mobility With Strategic Partnerships COMPETITION: MWh-GWh -MWh 100 kWh ENERGY: LI-ION BATTERY EV 4hrs GRID POWER Path to mobility market through JVs & Joint Development Agreements LOW-TEMPERATURE PEM TRUCKS, BUSES HEAVY-DUTY MOBILITY H2 (PURE) 8hrs AVIATION Increasing interest for large-scale systems SOFC/MCFC 12 hrs P2X, CHP & MARINE OFF-GRID & PORTABLE days Autonomy H2 (PURE, REFORMED, LOHC), METHANOL, E-FUELS, NATURAL GAS) 10#80Markets ADVENT VENT Markets: We Are Expanding To Electrolysers xpanding With IPCEI (Important Projects Of Common European Interest) Support ADVENT ADVENT ADVENT#81Highlights ADVENT Green HiPo Innovative Production of HT-PEM Fuel Cells and Electrolysers Total funding of 782.1m € Duration 2022-2027 • R&D and Production Facilities • Direct and indirect cooperation with approximately 20 European entities Electrolysers: 1.5 GW over 6 years Fuel Cells: 120MW over 6 years. Green HiPo Off-Takers HOMEN 12#82Dr. Emory De Castro, CTO ADVENT HT-PEM "Any Fuel. Anywhere." Technology H₂ ANY FUEL HYDROGEN Fuel for most heavy-duty mobility & industrial markets METHANOL Option for off-grid & portable • Interim low-cost option for mobility MARKET NOW e-FUELS (H2 carriers) Low-cost hydrogen at minimal infrastructure cost • e-Methanol, DME. LOHC MARKET IN NEAR FUTURE Advent Fuel Cell Stack COLD HEAT ANYWHERE HUMIDITY POLLUTION MARKETS + ELECTRICITY Advent MEA Defense Heavy-Duty Automotive Aviation Off-Grid Combined Heat & Power Marine 13#83Dr. Chris Kaskavelis, CMO ADVENT Revenue Will Come From SYSTEMS Stationary Power Portable Power Mobility Electrolysers H₂ ADVERCOEN ENERGY STORAGE ADVENT Next-Gen MEAS & Electrodes ENGINEERING & License Fees JDAS/Gov't Projects#84Accomplishments ADVENT 2021 Accomplishments: Build A Team Of The Best February 2021: • Advent rings Nasdaq Stock Market opening bell Advent acquires UltraCell June 2021: Advent signs new contract with U.S. Department of Defense for wearable fuel cell March 2021: Advent announces Joint Collaboration with the U.S. Department of Energy for next-gen fuel cell technology Advent announces new product development & manufacturing facility in Charlestown, MA, USA. U.S. Department of Defense selects Advent's wearable fuel cell for 2021 validation program July 2021: + September 2021: . Advent is Nominated to be part of the First Wave of IPCEI Hydrogen Advent launches M-ZERO™ Fuel Cells Advent's Green HiPo project approved by Greek Government and submitted to EU Advent's acquisitions of German FES and Danish SerEnergy bring forth a new. global fuel cell leader October 2021: . December 2021: • Advent signs MoU with BASF to secure supply chain for large- scale projects Advent announces successful demonstration of Serene Fuel Cells to the Maritime Sector Advent Technologies A/S 5kW Fuel Cell Systems roll out in Asian market for Telecom Sector Advent announces successful installation of the Advent Fuel Cell System in the Philippine Telecom Sector 15#85Accomplishments ADVENT 2022 Engage the Market January 2022: Advent signs Distribution and Service Agreement with Calscan Solutions Advent to supply Serene Fuel Cells for Globe Telecom's rooftop sites in the Philippines . February 2022: • Advent signs new contracts worth $2.2 million for delivery of MEA electrochemistry components March 2022: · Advent announces availability of Next-Generation HT-PEM MEAS April 2022: . Advent and Hyundai Motor Company enter into Technology Assessment agreement New orders of HT-PEM MEAs by Safran Power Units ADVENT May 2022: Advent co-signs Joint Declaration to increase electrolyser manufacturing capacities in the European Union Advent enters into technology assessment agreement with second large global Automotive Manufacturer . June 2022 • Advent's methanol-based fuel cell unit contributes to new world record for both electric and hydrogen-powered cars Advent receives notification of euro 782.1 million funding from the Greek State for IPCEI Green HiPo project 16#86Forward ADVENT 2023 and Forward Scale up capacity USA, Western Europe and Greece Strategic Partnerships and continued progress on commercializing the DoE technology Product development activity around portable/off- grid, aviation and mobility Collaboration/Joint Development Agreements with large, global players Potential strategic transactions MA 17#87Jim Coffey, COO & General Counsel ADVENT The Environmental Challenge • Focus on the 3Es (Environment, Energy Security, and Economy). • We need clean fuels and engines that will be green, manufactured locally, and do not require immense infrastructure spending.#88Kevin Brackman, CFO ADVENT Advent Finance & Investment Thesis Advent is on track to meet its 2025 target 8 673.70 228.57#89ADVENT Summary • The hydrogen economy is here. Globally, an average of $38 billion per annum is expected to be invested in the hydrogen and fuel cell sector between 2020 and 2040. Advent will decarbonize the world faster by bringing its highly differentiated HT-PEM technology to the market. • Through Green HiPo, Advent expects to receive total funding of 782.1m euros over a period of six years and will cooperate with at least 20 European entities across the value chain. ● We will play a leading role in the clean energy transition by building world- class fuel cells and electrolysers with a low total cost of ownership. 20#90ADVENT Financial Outlook and Growth Catalysts Kevin Brackman, CFO INVESTOR DAY 2022 Fi#91Finance ADVENT Revenue Streams SYSTEMS Off-Grid Telco Towers Defense Remote Power Electrolysers • Framework agreements with TowerCos. Telcos. Local Partners • Private Label versions to be developed for major Diesel Genset providers to help them bring new "green" offering to market • Electrolysers developed under Green HiPo project • Future business model scalable to 100s of MWs and GWs HYDROGEN ENERGY STORAGE ADVENT Next-Gen MEAS & Electrodes IP: Advent's recipe to make electrodes, membranes and MEAS is superior to competition and extremely difficult to replicate Next-Gen MEAs developed with the U.S. Department of Energy will significantly reduce TCO and improve ROI, leading to higher demand ENGINEERING & License Fees Access to market by partnering with global OEMs Expansion of innovation and manufacturing capabilities through IPCEI program (Green HiPo) JDAS/Gov't Projects#92Finance ADVENT ● ● Catalysts for Growth Advent Green HiPo project funding of euro 782.1m from the Greek State for the development and production of fuel cells and electrolysers Framework agreements for selling systems Continued progress on commercializing the DoE technology Product development activity around portable/off-grid, mobility and aviation Collaboration/Joint Development Agreements (JDAs) with large, global players Potential strategic transactions Completion of the R&D and manufacturing facility in Boston RepowerEU "Hydrogen Accelerator", large-scale U.S. hydrogen infrastructure projects and increasing interest in hydrogen technologies from industries and governments -S -$ 37% ·S ·$ 39293 $316#93Finance ADVENT The Landscape for Tier1/OEMs is Changing Rapidly The engines and fuels of today will change in the next 15 years. • Hydrogen and fuel cell know-how is scarce globally and is a strategic resource. OEMs innovating in- house could mean high costs and late to market. Advent will be a key enabler in this transition, by: • Accelerating product development Continuous innovation Providing private label versions Providing the MEA at scale • Licensing fees for technology Tier 1/OEMs will provide Advent with: • Development funds and vertical market expertise • Scale-up manufacturing capital for system production • Access to significant market opportunities 4#94Finance ADVENT Summary ● ● Significant market and growth opportunities in the coming years Ensure access to market by partnering with global OEMs Expand innovation and manufacturing capabilities through IPCEI program (Green HiPo) Supplement CAPEX and R&D financial needs by identifying strategic partners Scale-up MEA production Continuous innovation and product development 673.70 228.57#95Finance ADVENT Revenue 2025 Revenue Target: $300 Million Significant Market Opportunities • Stationary: 1.18 million telecom towers globally need backup power x 15kW = 18GW • Mobility: Heavy-Duty Trucks, Marine, Aviation • Current technology assessments with Hyundai and another top automaker Electrolysers and Fuel Cells from Green HiPo: • Electrolysers: If Green HiPo has less than 1% share of 400GW EU target by 2030, cumulative electrolyser capacity for Advent of 1.5GW over 6 years x estimated price of $300/kW = $450 Million cumulative revenue over 6 years • Fuel Cells: If Green HiPo has 0.07% share of 170GW EU target by 2030, cumulative fuel cell capacity for Advent of 120MW over 6 years x estimated price of $1700/kW = $205 Million cumulative revenue over 6 years • Fractional share of these markets can support Advent's long-term revenue target S AP (summmmmm INTIMI MONU 7 OOO 1 () 6#96Finance ADVENT Balance Sheet and Liquidity $59.3 million in cash as of March 31, 2022; no debt; anticipate receiving -$5 million in the second half of 2022 in tenant improvement allowances for Hood Park facility as reimbursement for spending that occurred in the first half of 2022 Excluding any margin contribution from revenue and Hood Park impact, net spending currently averages ~$11 million per quarter Targeting a 20% reduction of this run rate Cash use higher than average in Q1 due to annual payments such as insurance renewals, and lower than average in Q2-Q4. • Green HiPo Funding: Euro 782.1 million over six years, as follows (in euro million): ● . Year 1 35.8 Year 2 84.3 Year 3 175-7 Year 4 Year 5 Year 6 259.3 111.7 115.2 500 20 200 1007 > 8 POLE 8 LET#97Finance ADVENT EV/Revenue Multiples 3.4x 24.0x 11.4x JAL 9.2x 7.9x 2.9x ceres BALLARD 0.3x ADVENT 2022E-2025E Revenue CAGR Market Capitalization ($m) 24.8x POWERCELL Developer & producer of hydrogen fuel cell stacks and systems 135.0% $136m Fuel cell technology & engineering company 46.2% $680m Core Comps Developer & manufacturer of PEM fuel cells 28.1% Note: Market data as of June 24, 2022 Peer revenue estimates are based on Wall Street analyst consensus estimates. (1) Advent revenue estimates are based on management targets of $23 million for 2022E and $300 million for 2025E $1,351m 28.6x 47.9% 3.5X ITM POWER PEM technology for hydrogen electrolysers and fuel cells $2,040m 9.6x 100.8% fuelcellenergy Direct gas natural gas fuel cell manufacturer 3.9x $1,466m 34.6% 8.7x $1,508m 2.7X PLUG POWER Design and manufacturing of hydrogen fuel cell systems Other 48.4% Legend 2022E 2025E Peer Avg. Multiples 2022E 2025E $10,539m 3.8x 15.5X 4.9x 1.7X Bloomenergy Developer & manufacturer of solid oxide fuel cells 29.7% $3,222m 8#98ADVENT Green HiPo IPCEI Hydrogen Technology Project H₂ 2 Nora Gourdoupi Ph.D. / SVP, Corporate Business Development INVESTOR DAY 2022 2#99Green HiPo ADVENT Advent's Green HiPo is a key IPCEI Hydrogen Technology Project IPCEI (Important Projects of Common European Interest) Hydrogen Technology is an EU initiative to achieve: ▪ Europe's energy and climate targets, in line with the Paris Agreement economic growth and maintaining the competitiveness of the EU industry and economy ▪ the technological and energy autonomy of the EU I • The EU is targeting a scale-up of electrolyser capacity of up to 400GW in 2030. This corresponds to 10 million tons of renewable-produced hydrogen. • REPowerEU (8th March, 2022) is a recent EU initiative to reduce the dependence of Europe on external energy markets and augments the IPCEI Hydrogen Technology initiative. O#100Green HiPo ADVENT Advent Green HiPo: Electrolysers can be used for the production of green hydrogen Advent in collaboration with strategic partners is aiming to provide a modular and versatile solution that is suited for scale-up and serial production. Through Green HiPo, Advent is aiming to produce electrolysers of total capacity 1.5GW over 6 years in Western Macedonia, Greece. Green Hydrogen can play a major role alongside electricity generation in future low- carbon economies, with the versatility to provide mobility, power system, heat and industrial services. ADVENT ADVENT AD AD ADVENT 640 3#101Green HiPo ADVENT Electrolysers: Off Takers and Applications Green hydrogen will be a key element in the decarbonization of the planet and will have an impact on numerous industries and sectors. RENEWABLE ENERGIES ELECTROLYSER TRANSPORT 0 H₂V HEAT & COLD OTHER INDUSTRIES CHEMICAL INDUSTRY PETROCHEMICAL INDUSTRY AGRICULTURE https://www.iberdrola.com/documents/20125/1226064/Infographic Applications Green Hydrogen.pdf/ 50f3a85c-5008-e2c7-71a4-27233c9ce93f?t=1639123929915 4#102Green HiPo ADVENT CUMULATIVE INSTALLED CAPACITY (GW) Rapid Growth in Solar PV 9000 8000 7000 6000 5000 4000 3000 2000 1000 43% CAGR 2000-18 2000 2002 2004 2006 2008 Historical Projections 480 (2018) 8.9% CAGR 2019-50 2,840 (2030) 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 Installations to 2050 8,519 (2050) Installations to 2050 The global installed capacity of solar PV could rise six-fold by 2030 (2,840GW) and is forecast reach 8,519GW by 2050 compared to installations in 2018 (480 GW). ✓ This represents a CAGR of nearly 9% up to 2050. ✓ Green hydrogen produced from solar PV/electrolyser combination is a significant opportunity. Source: FUTURE OF SOLAR PHOTOVOLTAIC, IRENA 5#103Green HiPo ADVENT Advent Green HiPo: Fuel cells for CHP & mobility markets . . . THROUGH GREEN HIPO, ADVENT WILL MANUFACTURE FUEL CELL SYSTEMS OF TOTAL POWER OUTPUT 120MW WITHIN AN INITIAL PERIOD OF 6 YEARS. SEAMLESS, CONSISTENT GENERATION OF CLEAN POWER AND HEAT TIES IN WITH THE LARGE DOMESTIC H2 INFRUSTRUCTURE PROJECTS IDEAL FOR MOBILITY MARKET UNIQUE FOR THE GREEK MARKET CONTRIBUTE TO THE NATIONAL GOAL FOR ENERGY TRANSITION TO CLEAN ENERGY ADVENT ADVENT HOMENT#104Green HiPo ADVENT Fuel cells: Off takers and applications COMPETITION: MWh-GWh MWh 100 kWh ENERGY: LI-ION BATTERY EV 4hrs GRID POWER LOW-TEMPERATURE PEM TRUCKS, BUSES HEAVY-DUTY MOBILITY H2 (PURE) 8hrs AVIATION Fuel cells are targeting several sectors (heavy duty mobility, maritime and aviation, stationary and energy-to-hydrogen), having competitive advantages over other alternatives SOFC/MCFC 12 hrs I P2X, CHP & MARINE OFF-GRID & PORTABLE days Autonomy H2 (PURE, REFORMED, LOHC), METHANOL, E-FUELS, NATURAL GAS) stick 7