#1e 360 RV Marine | Overland IP66 LITHUM 12V UFePO4 BATTERY Designed and Engineered in America Corporate Presentation Industry Leader in Lithium Battery Power Solutions for RV, Marine & More e360 LITHIUM POWER SOLUTIONS EXPION360 NASDAQ: XPON August 2023#2Important Cautions & Disclaimers Expion360, Inc. ("Company") makes no representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of this presentation (this "Presentation") or any information therein. This Presentation and any accompanying information, documents and material presented or distributed during this Presentation have been prepared by the Company solely for informative purposes and do not constitute an offer to sell, or a recommendation or solicitation of an offer to subscribe for or purchase any securities. 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A Product of CMA 082523 2#3e NASDAQ: XPON 360 Key Stats EXPION360 = NASDAQ:XPON mrq Most Recent Quarter Ended June 30, 2023 ttm = Trailing Twelve Months @ June 30, 2023 Stock Price 8/17/23 $4.92 Revenue, ttm $6.0M Annual Revenue Growth $millions Avg. Volume 42.9K Revenue, mrq $1.7M $7.2 Shares Outstanding¹ 6.9M Gross Profit, ttm $1.6M 73% CAGR Market Cap. $34.0M Net Loss, ttm $6.2M 2019-22 Public Float, est.² 4.9M Cash & cash equiv. mrq $3.6M $4.5 Insider Holdings, est. 31% Total Assets mrq $13.3M Employees 25 Total Debt mrq $1.2M Founded 2016 Total Liabilities mrq $4.9M $1.4 $1.6 Fiscal Year End Dec. 31 Working Capital mrq $8.0M 2019 2020 2021 2022 1) Total weighted shares outstanding for the 12 months ended June 30, 2023. 2) Free float = Total shares outstanding excluding insider ownership (fully diluted), estimated. Data sources: IPREO, Yahoo! Finance, Expion360 Form 10-K for Year Ended Dec. 31, 2022 and Form 10-Q for the quarter ended June 30, 2023. 3#4e EXPION360 960 NASDAQ:XPON • • Industry leader in lithium battery solutions for RV, marine and more. Experts in design and integration of battery power components and finished products. Strategic battery supplier for major RV OEMs. • NASDAQ IPO April 2022 as a unique public pure-play. • 2022 revenue up 59% to a record $7.2M. . • Shipments for five new major RV OEM wins to begin ramping up in 2H-2023. Recently entered Light Electric Vehicle (LEV) market with new battery technology. • Preparing to enter home clean energy & industrial markets. e 360 K-20231 360 360#5e We Address the Fast-Growing 360 Lithium-Ion Battery Market EXPION360 NASDAQ:XPON Market growing at 13.2%CAGR to $93.3 billion by 2028.1 Key market drivers: • . • Greater focus on sustainable energy. Growing awareness of adverse effects of traditional lead-acid batteries. RV & Marine OEMs and end users switching from lead acid batteries to Lithium-ion. Lithium-Ion Battery Market Outlook' $ Billions $93.3B 13.2% CAGR 2022-28 • Increasing demand for reliable electricity supply. e 360 $45.0B 2022 1) IMARC Report Lithium-ion Battery Market, March 2023 2028 LO 5#6e Also Addressing Global Battery 360 Energy Storage Systems Market EXPION360 NASDAQ:XPON • • Global battery energy storage system market growing at 27.9% CAGR to $15.1 billion by 2027.1 Key market drivers: Global Battery Energy Storage System Market¹ $ Billions $15.1B • Ongoing grid modernization. • Increasing focus on renewable energy. Rising adoption of low-carbon emission economy. 360 Expion360 Boondocker Integrated Power System (400 Ah 525 W) e 360 e 100% 238 05:29:53 13.10 43.534 571 EXPION360 360 Bluetooth 360 50 A MPPT III $4.4B 2022 27.9% CAGR 2022-27 2027 1) MarketsandMarkets Global Battery Energy Storage Systems Market, February 2022 6#7e 960 EXPION360 NASDAQ:XPON Recently Entered Global Light Electric Vehicle (LEV) Market Global light electric vehicle market growing at 9.4% CAGR to reach $122.7 billion by 2027.1 Global golf cart battery market growing at 5.9% CAGR to $216.5 million by 2031.2 Light Electric Vehicle Market Global, USD Billions 1 $122.7B • Key market drivers: Efforts to reduce emissions • Rising popularity of lithium-ion batteries $78.5B 20.24 101 101 0 960 New e360 SmartTalk™ Lithium-ion Battery for Golf Carts & other LEVS 2022 9.4% CAGR 2027 1) ReportLinker Light Electric Vehicles Market, Nov 2022 Golf Cart Batteries Market Segment Global, USD Millions 2 $122.8M 2022 $216.5M 5.9% CAGR 2031 2) Allied Market Research Golf Cart Battery Market, Aug 2022 7#8e Our Technology Advantages 960 EXPION360 NASDAQ:XPON Expion360 Lithium Battery • Overall: Compact, high-capacity and extreme reliability. • Lithium-Iron Phosphate Chemistry: recognized as among the safest battery chemistries. • 1x capacity Charge Rate: enables users to rapidly charge to capacity. • User-Centric: flexible & modular; designed for ease of placement and integration. • Extended Lifespan: ~12+ years; 3K-5K charging cycles. 10x lifespan of lead acid batteries. • Long Warranties: up to 12 years. Rugged Design: IP66-rated enclosures for protection in variety of environments. Easy placement and integration. ... 10x Life Cycle e 360 RV | Marine Overland LITHEA BY UNPRO HATT Tenfold the lifetime of your battery investment. 3x Energy Density Power more appliances, longer. 3x Faster Recovery Charge faster, save time and move further. 50% Lighter Lighten your load to improve handling and mpg. 8#9e Why Customers Choose E360 360 Superior Aesthetics, Design, Materials & Construction EXPION360 NASDAQ:XPON 10% Fiber Glass Infused ABS Plastic for Enhanced Strength UL-94 VO FIRE RATED IP66 Dust & Water Ingress Protection Rating Our E360 (12V/360Ah) has 3.5x the Capacity of Average RV Battery & Unique Form Factor EXP CRESSS Lang4383 EXPL776630E 4DOT ULCH6483 EXP &1665054000 ALAMHM-83 321408664272394 EXPC22669064000 AULAMP64383 EXP-CP165050 Um/H64383 EXP-CF2E VOND RIWH64393 E A E QUALITY CONNECTIONS Oversized brass terminal pads. Plainly and permanently marked polarity. HIGH-PERFORMANCE BATTERY MANAGEMENT SYSTEM Under or overvoltage shutdown. Under or overtemperature shutdown. Short circuit protection. Auto-reset. SAFE BATTERY CONSTRUCTION Top-quality cells welded to thick solid-copper distribution plate. All terminals are epoxy sealed. TEi listed battery (UL 1973). UL recognized cells (UL 1642) - file No. MH64383 RUGGED CASE UL 94 V-0 rated fiberglass-infused ABS case. Engineered insulation. Custom, no-slip, tie-down points. Round corners add strength & absorb shock. Rubber feet prevent sliding & reduce vibration. 9#10e 960 EXPION360 NASDAQ:XPON Expion360 vs. Competitors Lithium Battery Features High-Current Cable Connections Power Collector Plates Lithium Cell EXPION360 Mechanical Connections: vibration resistant & better connection efficiency Thicker, Higher Quality Plates: 0.4mm Solid Copper Plates Stainless Steel Encased Cylindrical Cell VS Lithium Competitors Soldered Connections - less resistant to vibration and less efficient Thinner, Lower Quality Plates: 0.1mm Nickel Plated Tin Strip Polymer or Prismatic Cell Oversized Terminals Cell - UL 1642 Recognized, UL 1973 Compliant Battery Management System CPU Regularly Controls Cell Balancing and Charging/Discharging; Protection Features Simple to install Highly Aesthetically Pleasing Design Overall Size to Energy Density ✓ Superior ? Inferior 10#11e New e360 SmartTalk™ Lithium-ion 360 Battery for Golf Carts & Other LEVS EXPION360 NASDAQ:XPON • • Introduced exclusive e360 SmartTalk - June 2023: • • Innovative mobile app allows seamless integration and management of e360 Bluetooth-enabled LiFePO4 batteries. Wirelessly monitor performance and view valuable analytics on virtually any Bluetooth-enabled mobile device. First e360 SmartTalk battery for LEVS: 48 Volt GC2 LiFePO4 Battery: • • Intelligent wireless mobile management capabilities, outstanding capacity, and superior construction and durability. Offered in conversion kits to aftermarket, replacing lead acid batteries. U.S. patent pending covering the new battery design. P 11:00 Battery Info © ℗ 533 0.0 & 10°C 10°C Cycle 28.2Ah 78% 0 e 360 New Smart LiFePO4 Battery Leads Rollout of Expion360's New Bluetooth-Enabled Wireless Management Platform Planning launch of additional e360 SmartTalk-ready batteries for both existing and future product applications. 11#12e 960 EXPION360 NASDAQ:XPON Go-to-Market Channels OEM O your brand Dealer Direct • Sell directly to dealers who offer Expion360 products to their customers. ● 300 dealers & growing. Distributors • Our distributors provide us access to thousands of retail store locations nationwide. Elevates brand awareness and opens the door to new applications. · OEM Offers customers scalable integrated power system solutions for their products. Highly scalable & reduced time-to- market. Private Label Offers our standardized products under client's existing brand. Enables turnkey, fast time-to-market, and rapid brand expansion. ⚫ Scale compatibility. O O O O O Our Proprietary Products & Manufacturing Capabilities are at the Foundation of Our Go-to-Market Strategy 12#13e 960 EXPION360 NASDAQ:XPON Our Expanding Reseller Network Dealers, wholesalers, and original equipment manufacturers. • 300+ nationwide and growing. • Marquee customers include: CAMPING WORLD INTERSTATE BATTERIES Outrageously Dependable® meyer DISTRIBUTING Expion360 Nationwide Reseller Network QUEBEC Sle WASHING MONTANA NORTH DAKOTA MINN SOUTH DAKOTA MISCONSIN OREGON WYOMING Ottaw Montreal ° MAINE Tonto VT NEW ago IOWA NEBRASKA CT RI ILOIS PE DHIO NEVADA L⚫ited States INDANA New York UTAH DE NJ COLORADO KANS M OURI WES VIRG CALIF NIA Los San Diegoo Las Vegas OKLAHOM ENNES es ARKANSAS NA NEW MEXICO: MISSISSIPP ALAB TEXA LOUISIANA Houston Gulf of Californ EXPION LITHIUM POWER SOLUTIONS LiFePO4 10X LIFE CYCLES EXPION360.COM | HOME OF HESS IDA Gulf of Movico EXPION360 EXPONSED 13#14e Global Presence 960 EXPION360 NASDAQ:XPON 1. Headquarters: Redmond, Oregon. Currently building out assembly capacity at our corporate headquarters. 2. Planned Pack Assembly & R&D Cell Plant: Redmond, Oregon. Our long-term goal is to onshore to the U.S. manufacturing of most of our components and assemblies, including cell manufacturing. 3. OEM Sales & Distribution Warehouse: Elkhart, Indiana. 4. Battery Manufacturing Suppliers: China 1. 2. 3. 4. 14#15e 960 EXPION360 NASDAQ:XPON Financial Performance Q2 2023 Revenue up 14% sequentially to $1.7M, due to increased sales to dealerships, wholesalers and OEMs. Gross profit increased 2% sequentially to $454,000 in Q2. Cash & cash equivalents: $3.6M at June 30, 2023. Inventory on hand combined with pre-paid/in-transit inventory totaled $5.1M at June 30, 2023, up $456K vs. at year end. Annual Revenue Growth $millions 73% CAGR 2019-22 $4.5 $7.2 Full Year 2022 Revenue up 59% to a record $7.2 million. $1.6 $1.4 Gross profit up 39% to $2.3M or 31.9% of revenue vs. $1.6M or 36.4% of revenue in 2021. Outlook for continued strong y/y growth in 2023 2019 2020 2021 2022 15#16Public Peer Comparative Valuation Enterprise Value to Sales (EV/S) Share Ticker Price Enterprise Sales Market EV/S Value ($M) ttm ($M) Cap ($M) @8/17/23 T TESLA PLUG POWER Tesla Solar panels, solar roofs & batteries for stationary storage. TSLA 219.22 678,540 94,030 695,800 7.2x Plug Power Modern hydrogen and fuel cell technology. PLUG 8.59 5,060 880 5,170 5.8x QuantumScape QuantumScape Lithium-metal batteries for use in electric vehicles. QS 6.82 2,500 0 3,310 ENOVIX Enovix Silicon-anode lithium-ion batteries. ENVX 13.89 1,990 1 2,220 N/M microvast Microvast Lithium-ion battery solutions. MVST 1.95 562 225 615 2.5x Solid Power Solid Power Solid-state battery cells for EVs. SLDP 2.13 169 16 380 10.6x FREYR Freyr High-density lithium-ion batteries. FREY 6.32 570 0 883 ESS INC CATALYZING A CLEANER FUTURE ESS Tech Designs iron flow batteries for commercial & utility applications. GWH 1.18 88 3 184 N/M eos dragonfly Celectrovaya Dragonfly Energy Electrovaya Eos Energy Enterprises Battery storage solutions for the electric utility industry. Lithium-ion batteries for the energy storage industry. Lithium-ion batteries, battery systems and related products. EOSE 2.63 731 23 352 31.8x DFLI 1.83 115 87 105 1.3x ELVA 3.94 148 39 129 3.8x VS Enterprise value is defined as market capitalization plus total debt minus total cash and cash equivalents, as of most recent Form 10-Q for quarter ended June 30, 2023. Excludes outliers GWH due to marginal sales. N/M = not meaningful. Average Peer Comp Enterprise Value-to-Sales¹ 9.0x 6360 XPON $4.92 $31.6 $6.0 $34 4.4x LITHIUM POWER SOLUTIONS 16#17Investment & M&A Comparative Valuation Industry Peer Focus Sila Nanotechnologies Supercharged car batteries. NANOTECHNOLOGIES SILA CLARIOS Clarios POWER ON Advanced, low-voltage battery technologies. Lithium-ion battery technologies designed to charge EVs faster. Large-sized lithium-ion batteries and power storage system. Lithium-ion batteries intended for EVs. Most Recent Transaction $590M Series F venture funding led by Coatue Management, Jan. 2021. Filed NYSE IPO in May 2021 to sell 88M shares at $17 - $21 per share. Last Valuation $2,710M $1,670M ENEVATE Enevate $81M combination of Series E1 & E2 venture funding, Feb. 2021. $501M ili ELIIY Power BRITISHVOLT ELIIY Power Jafco, Nippon Venture Capital, Nissay Capital and SBI Investment sold stake. $400M Britishvolt Seeking Series C venture funding from undisclosed investors. $250M Boston Power Lithium-ion battery technology for energy storage. $20 million in debt financing from undisclosed investors, Feb. 2015. $237M ionic MATERIALS Ionic Materials Solid-state batteries designed to provide polymers for batteries. $65M Series C funding: Alliance Ventures, Bill Joy & Kleiner Perkins, Feb. 2018. $112M $12.06M in venture funding from Aravaipa Ventures, July 2021. $30M Boston POWER SiONIC energy Sionic Energy Volta Power Systems Volta Power Systems Envision AESC Envision AESC Lithium-ion batteries. Lithium-ion energy systems. Lithium-ion batteries for EVs. Received $600M in from Primavera Capital Group, Oct. 2021. Sion Power Sion Power Energy storage systems for EVs and aerospace. $240.4M in venture funding from undisclosed investors, Nov. 2021. LITHIUM POWER SOLUTIONS 6360 Market Capitalization (8/17/23): $34.0M VS Average Valuation $739M 17#18e Future Market Expansion 360 e360 Home Energy EXPION360 NASDAQ:XPON • Targeting low barrier price-to-own. • Provide flexibility to move power from home to mobile products. • Focus on scalability & versatility (DIY upgradable). • • Recurring revenue opportunity for e360 and sales partners. Development of e360 Smart Talk solution for inter-product communication. e 360 e e Concept mockup/artistic rendering (not actual). 18#19e Future Market Expansion 360 Home Energy Storage Market EXPION360 NASDAQ:XPON Global Residential Solar Energy Storage Market¹ $ billions • Global residential energy storage market 34.9% CAGR to reach $88.9 billion by 2028.1 Key market drivers: • Government support & financial incentives for renewable energy (new 30% federal tax credit for solar installs). • Low battery costs. • Need for energy self-sufficiency. 88 grid $15.2B $88.9B 34.9% CAGR 2023-28 2023 2028 battery inverter electric panel meter 1) Market Data Forecast, Global Residential Solar Energy Storage Market, March 2023 19#20Global Forklift Battery Market¹ $ billions e Future Market Expansion 360 Industrial Applications EXPION360 NASDAQ:XPON • We aim to provide additional capacities to the ever-expanding electric forklift and industrial material handling markets. 6.6% CAGR 2019-27 • Global forklift battery market to grow at 6.6% CAGR to ~$7.2 billion by 2026.1 . ⚫ Lithium-ion forklift batteries is the fastest growing market segment of forklift battery market.1 $4.6B SAS EPX3 $7.2B 19 20 21 22 23 24 25 26 Example potential Application (not actual) Example potential Application (not actual) 1) Research Dive report, July 2022. 20#21e Future Onshore Production 360 Three Stages Toward Full Onshore Manufacturing EXPION360 NASDAQ:XPON Stage 1 Design & Engineering in U.S. (Current) Manufacturing partner in Asia handles component manufacturing, assembly and packaging. • We assemble & distribute out of our Redmond, OR facility. Currently deploying IP strategies and cutting-edge research to design and develop new products. Stage 2 Onshore Assembly to U.S. (Near Future) Design, engineer and assemble our battery systems in the U.S. Currently building out assembly capacity at corporate headquarters. • Transition certain manual processes to automated. • • Stage 3 Onshore All Production (Long-term Future) Engage manufacturing partners who require a reliable source of batteries for their products. Launch "mega factory" in partnership with these key player. • Control all component manufacturing • & assembly, including cell manufacturing. Enables better quality control and reduces supply chain risk. Target completion date TBD. 21#22e 960 EXPION360 NASDAQ:XPON Future Growth Drivers IMPERIAL OUTDOORS CHINOOK RY ● Highly competitive on quality, price, form factor and power density. • Selected as strategic supplier by multiple major RV OEMS over last several months: • Chinook RV premium motorhomes- May 24, 2023 XPLORE IMPERIAL ONTDOOKS 222 Rugged power storage for new off-grid, extreme overland Imperial Outdoors RV camper series. Storage for solar power, air conditioner and induction cooktop on Chinook RV premium motorhomes. • Xtreme Outdoors Little Guy trailers - March 9, 2023 • Cube Series pop-up campers - Feb. 9, 2023 • • Imperial Outdoors overland RV camper series - Jan. 3, 2023 Overland RV trailer branded & sold by a Top U.S. sports utility vehicle (SUV) manufacturer through 5,000 SUV dealerships nationwide - Dec. 22, 2022. Shipments under these major OEM wins expected to begin ramping up in 2H - 2023. TM CUBE SERIES TROAK e360 batteries to be included in Cube Series new compact, pop-up camper for lightweight trucks. LITTLE GUY TRAILERS TREME OUTDOORS Strategic battery supplier for Xtreme Outdoors teardrop campers, including the Little Guy Max trailer. 22#23e Key Takeaways 960 EXPION360 NASDAQ:XPON • . Industry leader in lithium battery power storage solutions. Addressing high-growth markets and transition from lead to lithium power storage. Preparing launch of new home energy storage & industrial solutions. Selected as strategic supplier by multiple major RV OEMs, with shipments ramping up in 2H-2023. • Outlook for continued strong y/y growth in 2023. ים Annual Revenue Growth $millions $1.6 $1.4 $4.5 $7.2 73% CAGR 2019-22 2019 2020 2021 2022 23#24€360 LITHIUM POWER SOLUTIONS EXPION360 2025 Contact Us Expion360 Headquarters 2025 SW Deerhound Ave. Redmond, OR 97756 Tel +1 (541)797-6714 Investor Relations Contact Ronald Both or Grant Stude [email protected] Tel +1 (949) 432-7566 Media Contact Tim Randall [email protected] Tel +1 (949) 432-7572 24#25€360 LITHIUM POWER SOLUTIONS Appendix 25 55#26e Senior Management Team 360 EXPION360 NASDAQ:XPON Brian Schaffner CEO 30+ years of executive experience in a variety of capacities including CEO, CFO, CIO and controller. Former CEO of Capital Physical & Hand Therapy, a multi-site healthcare organization. Previously served as operations controller of senior care provider with $550M in annual revenues & $2B in assets. Former VP of finance for Monterey Bay Academy. Served as director of development at Mount Ellis Academy where he oversaw marketing, recruiting and Alumni relations. Former director of finance at Family Help & Wellness. Paul Shoun Co-Founder, President & COO 30+ years experience in project management, product development, engineering leadership, business accounting, ERP/CRM system management and product marketing. Founded and led Shounco Design Studios, an engineering consulting firm focused on scalability and manufacturability of products through automation and process improvement. Greg Aydelott CFO 20+ years of experience in financial management and operations, including accounting, budgeting, business development and strategic planning, M&A, regulatory compliance, facility construction and customer relations. Served as senior financial analyst for a network of hospitals, clinics and health services with system-wide annual revenues of $1.5 billion. Former director of business operations at a senior care provider with annual revenues of over $20 million. John Yozamp Co-Founder & Chief Business Development Officer 30+ years of sales and marketing experience, including 24 years of product concept, development and manufacturing. Founded two recreational vehicle/trailer tent companies (CVT Tents, Free Spirit Tents). Founded one of the largest solar manufacturing companies in the U.S., Zamp Solar, focused on RV and off grid solar markets. Extensive experience in selling and developing products for large retailers, including Sherwin- Williams, Costco, Lowes and Home Depot. Recognized as HDTV's top 10 pick "Best New Idea" at the 1996 Chicago Hardware Show. 26#27e How We Are Different 360 Power Collector Plates Comparison EXPION360 NASDAQ:XPON • EXPION360 ப L 區 17 E RI 四 D ח ப 目 B 0.4 mm SOLID COPPER PLATES COMPETITOR A COMPETITOR B 0.1 mm NICKEL PLATED TIN STRIP 0.1 mm NICKEL PLATED TIN STRIP Expion360 thick collector plates are made of copper, a better electrical conductor vs. tin strips. • Our plate's greater surface area increases electrical efficiency. • Our plates are machine welded for a precise build, whereas competitor batteries are typically hand-built. 27#28e How We Are Different 360 High Current Cable Connection Comparison EXPION360 NASDAQ:XPON EXPION360 COMPETITOR A DAVO MECHANICAL CONNECTIONS SOLDERED CONNECTIONS COMPETITOR B B- SOLDERED CONNECTIONS Expion360 cable connections are connected by a nut or stud. This is more efficient electrically and less prone to fail versus soldered connections. 28#29How We Are Different Our Custom Case for Battery Pack 200°C • • e 1360 EXPION360 NASDAQ:XPON Each case is designed for cell pack contained inside. Expion360 owns the molds used to create the battery cases making it truly unique. ● Support ribs on all sides to fully cradle the cell pack to prevent the battery from shifting due to movement and vibration. . Batteries can be mounted in any direction, except 360 Ah model due to its larger internal pack size and weight. CASE IS DESIGNED SPECIFICALLY FOR THE BATTERY PACK 29#30How We Are Different We Provide 96% Larger Offset Terminals vs. Competitors VPR 4EVER CLASSIC LITHIUM 12.8V 100Ah LiFePO4 BATTERY MEER BROW EXPION360 THE LITHIUM EXPERT Large offset terminals to prevent cross polarization during installation and to make the batteries easier to connect during parallel and series banks. VPR 4EVER PARALLEL BANK e 360 EXPION360 NASDAQ:XPON VPR 4EVER SERIES BANK VPR 4EVER CLASSIC 30#31e 960 EXPION360 NASDAQ:XPON Capitalization Summary Insiders Holdings (fully diluted) 31% Public Float (est.) 4.9M Total Common Shares Outstanding (June 30, 2023) 6,910,717 Options 829,500 Weighted Average Strike Price: $3.43 Warrants 777,830 Weighted Average Strike Price: $4.38 Fully Diluted Shares Outstanding 8,518,047 31