Sustainable Decentralized Water Solutions

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Water and Wastewater Treatment

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February 2022

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#1fluence Investor Presentation February 2022 TM Sustainable Decentralized Water Solutions#2Disclaimer This presentation has been prepared by Fluence Corporation Limited (ASX: FLC). All currencies quoted as "$" are US dollars unless otherwise specified. This presentation may contain forward-looking statements which are identified by words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties. These statements are based on an assessment of past and present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this presentation, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors many of which are beyond the control of the Company, its Directors and management. Although the Company believes that the expectations reflected in and the assumptions underlying the forward looking statements included in this presentation are reasonable, readers are cautioned not to place undue reliance on them, as the Company cannot give any assurance that the results, performance or achievements covered by the forward-looking statements will actually occur. This presentation should not be considered as an offer or invitation to subscribe for or purchase any shares in FLC or as an inducement to make an offer or invitation to subscribe for or purchase any shares in FLC. No agreement to subscribe for securities in FLC will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under the law of any other jurisdiction. It has been prepared for informational purposes only and does not constitute an offer or invitation to apply for any securities, including in any jurisdiction where, or to any person to whom, such an offer or invitation would be unlawful. To the maximum extent permitted by law, the Company and its professional advisors and their related bodies corporate, affiliates and each of their respective directors, officers, management, employees, advisers and agents and any other person involved in the preparation of this presentation disclaim all liability and responsibility (including without limitation and liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use of or reliance on anything contained in, or omitted from, this presentation. Neither the Company nor its advisors have any responsibility or obligation to update this presentation or inform the reader of any matter arising or coming to their notice after the date of this presentation document which may affect any matter referred to in the presentation. Readers should make their own independent assessment of the information and take their own independent professional advice in relation to the information and any proposed action to be taken on the basis of the information. 2020 consolidated financial figures are presented on IFRS-basis and are audited. 2021 financial figures are subject to audit. fluence™ 2#3Fluence: Disrupting Global Water Infrastructure OUR MISSION • We make the world a better place by delivering sustainable water treatment solutions that produce high quality water, while saving energy and improving resilience • We are committed to becoming the global leader in decentralized water and wastewater treatment solutions An undeniable market growing opportunity... ...captured by the leading player in the space $650 Billion Global Water Market Pure-play water treatment company Proprietary technology $150 Billion Addressable Wastewater Market $118 Billion Addressable Water 9.7 billion estimated global population by 2050 Aging water infrastructure fluence™ Treatment Market ... and growing ... 75% of population facing water shortages Annual CO2 reduction by up to 150MM tons 80% wastewater released without treatment Decentralizing infrastructure Deployed fast and easily - just-in-time infrastructure Lowest Total Cost of Ownership 300+ plants sold Attractive valuation 3#4Fluence: Fast To Deploy, Profitable Water Solutions fluence Revenue Mix Has Shifted To SPS ex-Ivory Coast Transition To Higher Margin Revenue Illustrative 82% 2017* 8% 2% 12% 16% 10% 25% 65% 80% 2021 excl Ivory Coast Future Target Smart Products Solutions (SPS) Recurring Revenue (RR) Custom Engineered Solutions * 12 months pro-forma Strategic Focus Sell MABR in China and SE Asia Sell Nirobox in Middle East and SE Asia Seek more recurring revenue via water as a service in US and Caribbean Timely execution of Ivory Coast project Improve operating efficiencies Large Projects Examples: Smart Products Solutions ~$190M NIROBOX™ Ivory Coast Project Proprietary Smart Products Solutions Aspiral™ Proprietary Smart Products Recurring Revenue SUBRE BOOT, O&M Only global, pure play water and wastewater treatment company delivering standardized solutions to a growing, global, decentralised market Fast to deploy, lower cost, lower risk way to meet tightening regulatory standards Maximize profitable growth by targeting highest growth markets Strong team and balance sheet Increasing Gross Margin 4#5Q4 and FY2021 Highlights " ◉ All numbers are subject to audit Strong revenue growth and backlog in Smart Product Solutions (SPS) leads to 2nd year in a row of positive underlying EBITDA, meeting guidance. Q4 2021 revenues¹ of $43.5M up 117% on Q3 2021 and 113% on Q4 2020 FY2021 revenue¹ of $103.2M grew by 18% over FY2020 Fluence meets guidance for SPS revenue and positive underlying EBITDA - FY 2021 SPS revenues $39.6M (including Italy) up 23% from FY 2020; underlying EBITDA² positive $1.0M in FY2021 SPS backlog entering 2022 is up 65% versus 2021 MABR sold capacity increased 56% -313 plants sold to date with capacity for almost 1 million people MABR capacity sold in FY2021 ex-China exceeded in-China for first time 8 Nirobox units (6 plants) sold in FY2021, up from only 1 Nirobox sold in FY2020 fluence Revenue Growth¹ $87.8M FY2020 18% growth 20% SPS growth $103.2M FY2021 Cost Out Improvement - full year operating expenses down 8% versus 2020. Cashflow positive $5.2M in Q4 2021 and negative $4.8M for FY 2021 Net Cash Position - $41.4M+ $23.0M in short and long-term liquid investments. Smart Products Solutions (SPS) Recurring Revenue (RR) Custom Engineered Solutions FY2022 guidance: SPS sales from continuing businesses +23% to $45M, EBITDA $3M (assumes continued COVID-19 headwinds throughout FY2022) 1From continuing operations 2 Underlying EBITDA = Statutory EBITDA excluding one-off items All numbers in presentation are USD unless otherwise stated. 5#6Strong Growth in Sales of MABR Capacity fluence All numbers are subject to audit finalization MABR Capacity Sold (People served) 56% Growth 957,000 MABR Plants Sold To Date 313 +67 246 613,000 2020 2021 Installed Added Competition: 15 fluence Above left: commissioned plants next to homes and hotel, Cambodia On right from top: buried Aspiral plant in China; Aspiral, Texas; Niroboxes in Philippines and Taiwan 2020 2021 China SE Asia Rest of World 物式淡機組 Fluence: 300+ Fluence has 95% MABR market share by plant count * = All numbers in presentation are USD unless otherwise stated. MABR Capacity Sold To Date By Region Ex-China Sales Passed in-China in 2021 47% of capacity now ex-China 16% 53% 31% 6#7Investment Highlights ..ll fluence™ Proven, Proprietary & Advantaged Water Treatment Products High Growth Market Leading ESG Impact in Water Treatment & Desalination Strong Market Penetration & Inflecting Demand From Partners Attractive Financial Profile and Valuation World Class Leadership Team 7#8FLUENCE: COMPANY OVERVIEW#9Proven & Proprietary Water & Wastewater Treatment Products Smart, automated wastewater treatment and desalination products deploy fast and require minimal maintenance Wastewater Treatment Products aspiral 300+ plants sold subre TO CLARIFICA fluence r Treatment System aspiral MIXED INFLOW ANEROBIC ZONE OPTIONAL TVDICAL INSTALLATION SEPARATION WALL IN ANOXIC ZONE AEROBIC ZONE Containerized Smart Packaged Plants Retrofit/Newbuild Fixed Facility Desalination & Water Treatment Products 120 units, 30 plants sold NIR BOX™ NIROFLEX NIR BOX" fuence Ultrafiltration Multi Media Filtration Reverse Osmosis Retrofit / Newbuild • • • • • Key Advantages: Wastewater Treatment Products Cost savings of ~30-70% on a total cost of ownership (TCO) basis Pre-engineered and modular, allowing speedy deployment of plants installed in weeks, not years Automated operation, minimal maintenance and energy requirements resulting in quiet, odorless operation Meets highest regulatory standards & enables sustainable reuse (California Title 22 compliant) Key Advantages: Desalination Products Estimated 65% shorter construction time & ~40% less capex than typical custom desalination plants Pre-engineered and modular, allowing speedy deployment of plants installed in weeks, not years Automated operation, minimal maintenance and energy requirements resulting in quiet, odorless operation Vastly reduces process and related risks Containerized Smart Packaged Plants fluence™ Fixed Facility • Simple to maintain and upgrade 9#10• • • • MABR Overview Our proprietary technology: Membrane Aerated Biofilm Reactor (MABR) MABR Development Product Applications A Nitrifying biofilm oxidizes ammonium compounds to nitrate using oxygen diffusing from air through the membrane Denitrification: suspended biomass oxidizes BOD using nitrate WATER SIDE AIR SIDE OF THE MEMBRANE OF THE MEMBRANE A SEMI-PERMEABLE MEMBRANE SPIRALLY WOUND MEMBRANE & SPACERS Our team of Israel-based scientists developed proprietary MABR technology Six years to commercialization (2010-2016); five years in laboratory and one year in the field First demo unit in 2014 and first commercial plant in 2016; 15x cost reduction & 7x improvement in footprint efficiency to date Global patent portfolio, trade secrets and continuous improvement protect our product(s) • 312 plants deployed in various sizes, climates, wastewater types, +56% in 2021 "One of the Top 10 Water Tech Inventions of the Decade" fluence™ Global Water Intelligence, 2020 Increasing Decentralization SUBRE Upgrade Retrofitting existing WWTPs using MABR SUBRE Plant Using MABR to build new concrete WWTPS Aspiral™ Plant End-to-end solution Aspiral™ Smart Packaged plants Aspiral™ Micro Smart plant for small home clusters OPTIONAL TVICAL INSTALLION INANCKI ZOVE AEROBIC ONE TOCLARIFER fluence 10#11Advantages of MABR MABR enables migration of wastewater treatment from centralized to decentralized, disrupting $150bn market Fluence Smart MABR Beats Competing Technologies (1) Capex Fluence vs Competing Technologies MABR Competition Suez <DUPONT▸ environnement fluence Plant Scale Scales from cluster of homes to cities Larger plants only Larger plants only I 17% -55% lower Opex 50% 82% lower Energy Use 31% 63% lower Patents/ Markets Global US patents only Cannot access US market Chemical Use 30% -39% lower Suez: 12 Dupont: 3 30-70% overall lower TCO vs competing technology options (1) Fluence: 300+ fluence™ 1. TCO based on a 10-year period compared to MBBR, MBR, and FMBR technologies. Fluence has 95% MABR market share by plant count 11#12Aspiral Overview Our Aspiral product line packages our MABR technology into containerized, modular solutions aspiral Micro aspiral S aspiral™ M aspiral L fluence fluence fluence aspiral fluence aspiral Treats wastewater for 30-40 people Includes integrated pre-screen and clarifier Treats wastewater for up to 300-400 people Includes integrated pre-screen and clarifier Treats wastewater for up to 750-1,000 people Includes integrated pre- screen, clarifier and tertiary treatment Treats wastewater for up to 2,000-3,000 people 1 to 5 MABR modules assembled in the container fluence™ Pre-engineered and self-contained for fast installation and start-up Plants can easily be moved to optimize utilization Capital cost $84/person of capacity (~$700/m³/day) 12 22#13Scaling MABR Technology SUBRE applies MABR to larger plants at lower cost and energy use - 14 plants sold to date SUBRE enables MABR for larger plants serving up to 250,000 people Capex $84/person of capacity (~$700 per m³/day) Fluence's highest margin MABR application Left: Operating MABR plant in Cambodia Right: MABR plant upgrade, Israel SUBRE upgrade provides MABR cost, quality and footprint benefits fluence™ The most compelling way to upgrade capacity and quality with: • • 25-43% lower opex 32-39% lower energy use 30-38% lower chemical use No increase in plant footprint 13#14Established Operations and Manufacturing Capacity Our wholly-owned manufacturing facility in China produces MABR modules, SUBRE and Aspiral products MABR Manufacturing Since 2017 Manufacturing Line View • MABR produced at wholly owned plant in Changzhou, • Jiangsu Province, China, which serves as global manufacturing hub for MABR, with two additional assembly plants in Panjin and Yiyang, China Our Changzhou facility has one production line, with $75- 100mm in annual revenue capacity and ability to add three additional lines Production Line in Operation Aspiral Smart MABR Packaged Plants modules Assembly line in operation Aspiral pre-ship water test fluence™ ONCE MABR Raw production line materials 14#15Our Solutions Enable Decentralized Applications Our containerized desalination and water treatment products win on speed of deployment, footprint, and energy use fluence NIR BOX NIROBOX SW Sea Water RO desalination W NIR BOX" fluence NIROBOX BW Brackish Water RO desalination fluence W NIR BOX™ NIROBOX FW Fresh water filtration Three standard models meet the water needs of: 3,300 people 6,700 people . 10,000 people Four standard models meet the water needs of: Low salinity: 6,700 & 13,000 people High salinity: 6,700 & 10,000 people Standard model meets the water needs of: 33,000 people • Fresh water capacity for 10,000 people from a single 40-foot container (1) • Rapid deployment, remote operation & energy efficient • Easily upgraded and relocated: just-in-time capacity Estimated ~65% shorter construction time & ~40% less capex than typical custom desalination plants Utilizes off-the-shelf technology packaged into a proprietary modular solution Capital cost ~$60/person of capacity (~$400 per m³/day) fluence™ 1. Based on 150 l/person/day. 15#16Market Shifting to Decentralized Systems Problems Traditional Centralized System ence Pral Solutions Decentralized Systems Costly to build and operate - years to deploy Save up to 90% of piping cost: currently $84bn/year Infrastructure heavy - two-thirds of capex before the plant ✓ (piping, pumping) ✓ Improved use of existing water - reuse saves drinking water Highly energy efficient, can be off-grid Huge energy use ✓ Lower, just-in-time CAPEX - easily upgradable - Overdesigned for growth = lower ROI ✓ Easy and low cost to operate and maintain Hard to upgrade existing plants - Noisy, smelly eyesore Big plants present strategic vulnerability fluence™ ✓ Easily blends into the environment - quiet and odorless ✓ Enables resilient infrastructure 16#17Advantages of Decentralized Water & Wastewater Solutions Decentralized wastewater treatment is the most cost-effective, energy-efficient, sustainable solution Centralized Systems Decentralized Systems Decentralized Urban Water Magacea Vilagoral de la Serna Villa Mara Of de La Guarda Mirida de Liena gantana a de la Serons Decentralized advantages: • • • Decentralized saves 90% of piping capex, doubles treatment capacity per $ Local source of recycled water: an MABR treatment plant for 10,000 people costs less than 1 km of sewer or recycled water pipe Fluence MABR enables decentralized wastewater treatment and reuse - automated operation, near zero maintenance Rural area with towns and villages with populations ranging 200 - 35,000 people Decentralized advantages: Decentralized in-building treatment bypasses decaying infrastructure Recycled water meets 95% of commercial building's water demand Example: San Francisco mandates reuse; New York has implemented reuse fluence™ 17#18Leading ESG Impact in Water Treatment Committed to UN SDGs ➤ Fluence technologies are highly energy efficient (MABR, desalination) and lower CO2 and other harmful contaminants ➤ Many wastewater treatment technologies emit Nitrous Oxide (N₂O): 300x worse than CO2 - Fluence MABR emits nitrogen: installed systems currently save 314 tons/year of N2O emissions, equivalent to 93,600 tons of CO2 ➤ A decentralized approach using Fluence MABR to solve the world's wastewater needs would result in increased access to clean water and wastewater → Potential annual energy savings of 2 TWh, equivalent to 150 million tons CO2 ➤ Fluence is committed to ESG and delivers on 9 of the 17 UN SDGS Sustainability Impact from Fluence's Installations fluence MABR & NIROBOX 32 GWh/year in energy savings compared to conventional technologies Equivalent to 23,100 Tons CO₂/year Reuse NO POVERTY 2 ZERO HUNGER 3 GOOD HEALTH AND WELL-BEING QUALITY EDUCATION 5 GENDER EQUALITY CLEAN WATER AND SANITATION ++ 7 AFFORDABLE AND CLEAN ENERGY DECENT WORK AND ECONOMIC GROWTH 9 INDUSTRY, INNOVATION AND INFRASTRUCTURE 10 REDUCED INEQUALITIES 11 SUSTAINABLE CITIES AND COMMUNITIES 12 RESPONSIBLE CONSUMPTION AND PRODUCTION Water Wastewater CLIMATE ACTION 14 LIFE BELOW WATER fluence™ PARTNERSHIPS 15 LIFE ON LAND 16 PEACE, JUSTICE 17 FOR THE GOALS AND STRONG INSTITUTIONS 8 SUSTAINABLE DEVELOPMENT GOALS Source: EPA, research, Company analysis. 17Bn Liters Water Recycled/year 158Bn Liters Drinking Water Produced/year 253Bn Liters Wastewater Treated/year ✓ MABR installations remove >2,100 tons of nutrient pollution/year ✓ Lowers Nitrous Oxide emissions by 314 tons/year 18#19GO TO MARKET#20Proven, Targeted Partner-Driven Sales Strategy De-Risks Growth Penetrating priority markets with immediate needs, strong growth, healthy margins aspiral subre NIR BOXT fluence aspiral Wastewater treatment & reuse China Driven by 2021 5 year plan Both NIREBOX" Fresh water North America Maximize IRR by selling water versus plants Upgrade larger plants quality and capacity in same footprint Middle East Driven by drought and need for resilience SE Asia Driven by drought and stricter standards Global Aftermarket Proven Sales Strategy: Sell via partners with volume deployment needs - maximizes salesforce efficiency fluence™ 20#21China Opportunity China's 14th Five-Year Plan commits $50 billion to wastewater treatment through 2025 and stresses water reuse Fluence MABR plants in China 2 22 2017 2018 112 2019 204 270 2020 2021 fluence™ * Based on signed agreements. ** Based on China government specification of 1201/day/person. Market Drivers Strategy High standards. MABR meets required Chinese wastewater treatment standards for non-potable reuse at the lowest cost • China plan is enforced and funded, driving near-term Fluence partner momentum Key partners. Established key partnerships securing bulk orders in 14 provinces, accelerating the sales ramp - additional bulk order partnerships anticipated on annual basis • National SOE partners. China Three Gorges, China Rail, BEWG are well funded with huge market reach • Seek O&M contracts 21 21#22Case Study: Aspiral Plants Installed in China China leadership in wastewater treatment decentralization fluence Value from Water Wastewater Treatment Syste MABR Technology al Aspiral Micro treats home cluster, Liaoning province Aspiral S1 near homes, Hefei, Anhui province Buried Aspiral plant, Hangzhou, Zhejiang province itest Highway rest stop Aspiral L4 plant, Xiaogian, Hubei province Rural Aspiral plant, Luoyang, Henan province Control console manages remote, automated plants 4 Aspiral L4's, Xie Lin Gang, Hunan province fluence™ 22 22#23Southeast Asia Opportunity Faster pace than China, driven by drought and enforcement of stricter wastewater treatment standards Myanmar Vietnam Laos Thailand Cambodia Malaysia Singapore Brunei Indonesia Philippines Market Drivers East Timor Wong Jin Yong, Singapore- Based Head of China & Asia • • 26 years of sales, business development and operational experience 15 years in water and wastewater in China and Asia Built China and Asia business from zero Strategy • Drought, need for higher wastewater treatment standards and reuse. MABR meets required Chinese wastewater treatment standards for non-potable reuse at a lowest cost Funding is available, driving near-term Fluence partner momentum Accelerate sales via existing partners in Philippines, Cambodia, Taiwan, Vietnam ⚫ Leverage existing plants as references Philippines (10 plants), Cambodia (2 large plants, 100K people served), Taiwan, Vietnam • Established local subsidiaries to allow direct bidding: Singapore, Philippines • Enter emerging markets via new • partners: Malaysia, Thailand, Indonesia Seek O&M contracts fluence™ 223#24Case Study: SUBRE Plants in Sihanoukville, Cambodia Country's first biological wastewater treatment plants support 260,000 people: includes world's largest MABR plant Pool Operating MABR plant Capacity: 40K people Hotel Luxury villas Operating MABR plant Capacity: 60K people New Bridge L-24m New Design for world's largest MABR plant Capacity: 160K people fluence™ Quiet Odor-Free Operation Enables Plant Location Near People 24 14#25North America Opportunity MABR delivers substantial savings and generates high IRR for wastewater reuse - Washington Oregon New Hampshire Vermont Massachusetts Montana North Dakota Minnesota Wisconsin South Dakota Wyoming New York Michigan Iowa Pennsylvania Rhode Island Connecticut Nebraska Nevada Ohlo New Jersey Utah Mlinois Indiana Del Colorado Kansas Missouri Kentucky Tennessee Oklahoma Arizona Arkansas New Mexico Virgin la North Carolina South Carolina/ Mary Washingto West Florida Bahama Archipelago ATLANTIC OCEAN Mississippi Georgia Market Drivers Tuk Alabama California Alaska 30 H Haura Texas Louisiana Greater Antilles Cayman Florida CARIBBEAN SEA Bish Virgin Ponds Ange US V Auba Cups Bonaire Montserrat Guadelupe عاملة Los Margarit Align St Lucia Dominica Martinique Barbados Grenada The Grenadines Tobago Venezuel Trinidad Rick Cisterna, Chief Strategy Officer Over 30 years' water industry management experience, $1B in contracts, $100M in recurring revenue Dario Perez, Head of North America Water Services 30 years of sales, business development and operational experience • Has overseen sale, construction and operation of plants fluence™ Strategy Water scarcity and high water costs drive need for wastewater reuse and desalination as a service Initial Target: Caribbean and US sunbelt resorts ⚫ Prioritize Sale of Water not Plants: Fluence uniquely lowers water cost while generating ~25% IRRS (unlevered) ⚫ 25 Plants in Region (1 BOOT) • Scale up by partnering with operators of many properties, acquiring projects and tuck-in teams • Seek O&M contracts 25 25#26Case Study: Selling Water Instead of Capital Equipment Selling water as a service delivers operating savings shared by customers and Fluence (25%+ IRR) Complete Water and Wastewater Solutions NIR BOX" Water treatment || Water source Seawater/ Brackish water plant NIROBOX Hotel aspiral Wastewater treatment plant ASPIRAL • Recurring High Margin Revenue Wastewater reuse with MABR potentially halves overall water costs while generating 25%+ IRR and saving energy Fluence's MABR brings unique cost and energy saving advantages over all other approaches Scale sales via partners operating portfolio of projects NIR BOX TM aspiral Bimini Project Represents Future Template NIR BOX fluence Wastewater Treatment System MABR Technology Water Treatment Drinking Water Opex $0.75 - $1.00/m³ fluence™ Wastewater Reuse Irrigation Water Opex $0.04 $0.10/m³ (competitors $0.20 -0.40/m³) NIREBOX 26#27Middle East Opportunity Urgent need for high-quality decentralized solutions SYRIA LEBANON IRAQ ISRAEL JORDAN EGYPT SUDAN KUWAIT AFGHAN- ISTAN IRAN PAK- QATAR ISTAN SAUDI ARABIA U.A.E. ERITREA YEMEN fluence™ OMAN Karim Nasr, Dubai-based Head of Middle East • 20 years of water industry sales experience Runs Dubai and Cairo offices: sales, process design, support • Prior experience in Middle East with GE and Siemens Market Drivers Water Scarcity: urgent need for high- quality decentralized solutions including wastewater reuse; well funded Strategy Target: Arabian gulf states ⚫ Sell via Partnerships: Masdar, NUCA (Egyptian Housing Ministry) • Nirobox & MABR plants in region • Scale up via local partner/JV to accelerate growth in region and beyond • Seek O&M contracts 27 27#28World Class Leadership Team Richard Irving Chairman & CEO Key Management Over 30 years' tech and venture capital experience $3bn value created • Tony Hargrave COO Over 30 years' water industry management experience Wong Jin Yong CEO China & SE Asia • 30 years' water, industrial & IT experience Francesco Fragasso CFO • 20 years' finance experience in renewable energy and water treatment Rick Cisterna CSO . Over 30 years' water industry management experience, $1B in contracts, $100M in recurring revenue Spencer D. Smith CLO • Over 15 years' corporate law and M&A experience ⚫ Former GC of RWL Water . Board of Directors Richard Irving, Chairman & CEO Paul Donnelly Lead Independent Director • Over 30 years' international financial services experience Samantha Tough Non-executive Director Over 20 years' executive and Board experience in industrial and commercial sectors Rengarajan Ramesh Non-executive Director Former CTO of GE Water 30 years' operating, acquisition and tech experience Ross Haghighat Non-executive Director • 30 years' tech and venture capital experience ⚫ $4bn value created • Karim Nasr GM Middle East 20 years' water industry experience fluence™ Yaron Bar-Tal Head of R&D & GM 28 years' water & technology R&D experience Dario Perez VP Water Services • 30 years water, industrial, technology sales & operations Melanie Leydin Company Secretary Over 20 years' experience as Company Secretary 28#29Conclusion ..ll fluence™ Proven, Proprietary & Advantaged Water Treatment Products High Growth Market Leading ESG Impact in Water Treatment & Desalination Strong Market Penetration & Inflecting Demand From Partners Attractive Financial Profile and Valuation World Class Leadership Team 29

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