#1DRIVE FORWARD C volta Tortoise Acquisition Corp.II#2Disclaimer FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this presentation (this "Presentation") are forward-looking statements. Forward-looking statements may generally be identified by the use of words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," "potential," "seem," "seek," "future," "outlook," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this Presentation, and on the current expectations of Volta Industries, Inc.'s ("Volta" or the "Company") and Tortoise Acquisition Corp. Il's ("Tortoise II) management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and such differences may be material. Many actual events and circumstances are beyond the control of Volta and Tortoise II. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the potential business combination between Volta and Tortoise II and related transactions (the "Proposed Business Combination"), including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Proposed Business Combination or that the approval of the shareholders of Tortoise II or Volta is not obtained; failure to realize the anticipated benefits of the Proposed Business Combination; risks relating to the uncertainty of the projected financial information with respect to Volta; risks related to the rollout of Volta's business and the timing of expected business milestones; the effects of competition on Volta's business; the amount of redemption requests made by Tortoise Il's public shareholders; the ability of Tortoise Il or the combined company to issue equity or equity-linked securities in connection with the Proposed Business Combination or in the future; and those factors discussed in Tortoise Il's final prospectus filed with the Securities and Exchange Commission ("SEC") on September 14, 2020 and subsequently filed Quarterly Report on Form 10-Q under the heading "Risk Factors" and other documents of Tortoise II filed, or to be filed, with the SEC. If any of these risks materialize or Tortoise Il's or Volta's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Tortoise Il nor Volta presently know or that Tortoise II and Volta currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Tortoise Il's and Volta's expectations, plans or forecasts of future events and views as of the date of this Presentation. Tortoise II and Volta anticipate that subsequent events and developments will cause Tortoise Il's and Volta's assessments to change. However, while Tortoise II and Volta may elect to update these forward-looking statements at some point in the future, Tortoise II and Volta specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Tortoise Il's and Volta's assessments as of any date subsequent to the date of this Presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. INDUSTRY AND MARKET DATA Although all information and opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Volta and Tortoise II have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. Some data is also based on the good faith estimates of Volta and Tortoise II, which are derived from their respective reviews of internal sources as well as the independent sources described above. This Presentation contains preliminary information only, is subject to change at any time and, is not, and should not be assumed to be, complete or to constitute all the information necessary to adequately make an informed decision regarding your engagement with Volta and Tortoise II. USE OF PROJECTIONS This Presentation contains projected financial information with respect to Volta. Such projected financial information constitutes forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the projected financial information. See "Forward-Looking Statements" paragraph above. Actual results may differ materially from the results contemplated by the projected financial information contained in this Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such information will be achieved. Neither Tortoise Il's nor Volta's independent auditors have audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. IMPORTANT INFORMATION FOR INVESTORS AND SHAREHOLDERS If the Proposed Business Combination is pursued, Tortoise II will be required to file a registration statement (which will include a proxy statement/prospectus of Tortoise II) and other relevant documents with the SEC. Shareholders and other interested persons are urged to read the proxy statement/ prospectus and any other relevant documents filed with the SEC when they become available because they will contain important information about Tortoise II, Volta and the Proposed Business Combination. Shareholders will be able to obtain a free copy of the proxy statement/prospectus (when filed), as well as other filings containing information about Tortoise II, Volta and the Proposed Business Combination, without charge, at the SEC's website located at www.sec.gov. volta Tortoise Acquisition Corp.ll 2#3Disclaimer PARTICIPANTS IN SOLICITATION Tortoise II, Volta and their directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Tortoise Il's shareholders in respect of the Proposed Business Combination and the other matters set forth in the definitive proxy statement. Information regarding Tortoise Il's directors and executive officers is available under the heading "Management" in Tortoise Il's final prospectus filed with the SEC on September 14, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement relating to the Proposed Business Combination when it becomes available. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated under the Securities Act of 1933, as amended. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any proxy statement to be filed by Tortoise Il with the SEC. Some of the financial information and data contained in this Presentation, such as EBIT, EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). Tortoise II and Volta believe that these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to Volta's financial condition and results of operations. Tortoise II and Volta believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating projected operating results and trends in and in comparing Volta's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Volta's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. TRADEMARKS AND TRADE NAMES Volta and Tortoise II own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Volta or Tortoise II, or an endorsement or sponsorship by or of Volta or Tortoise II. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation may appear with the Ⓡ, TM or SM symbols, but such references are not intended to indicate, in any way, that Volta or Tortoise II will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. volta Tortoise Acquisition Corp.ll 3#4Risk Factors The list below of risk factors has been prepared as part of the Proposed Business Combination of Tortoise II and Volta. All references to "Volta" refer to the business of Volta Industries, Inc. and its consolidated subsidiaries. The risks presented below are certain of the general risks related to the business of Volta and the Proposed Business Combination, and such list is not exhaustive. The list below is qualified in its entirety by disclosures contained in future documents filed or furnished by Volta and Tortoise II, with the SEC, including the documents filed or furnished in connection with the Proposed Business Combination between Volta and Tortoise II. The risks presented in such filings will be consistent with those that would be required for a public company in its SEC filings, including with respect to the business and securities of Volta and Tortoise II and the Proposed Business Combination between Volta and Tortoise II, and may differ significantly from and be more extensive than those presented below. If Volta cannot address any of the following risks and uncertainties effectively, or any other risks and difficulties that may arise in the future, its business, financial condition or results of operations could be materially and adversely affected. The risks described below are not the only ones Volta faces. Additional risks that Volta currently does not know about or that it currently believes to be immaterial may also impair its business, financial condition or results of operations. You should review the investors presentation and perform your own due diligence, prior to making an investment in Tortoise II and Volta. Risks Related to Volta's Business Volta is an early stage company with a history of losses and expects to incur significant expenses and losses for the near term. To achieve its growth, Volta needs to continue to expand its team and geographic footprint aggressively and build scalable and robust processes. Volta may never successfully do so or achieve or sustain profitability. Volta currently faces competition from a number of companies, and expects to face significant competition in the future as the market for electric vehicle ("EV") charging and out-of-home and digital display advertising evolves. Volta depends upon strong relationships with real estate and retail partners to build out its charging network and increased competition or loss of a partner could negatively impact Volta's results. Volta relies on a limited number of suppliers and manufacturers for the manufacture and supply of its charging stations, some of which are also early stage companies. A loss of any of these partners or defects in or failure of the products that they supply Volta could negatively affect Volta's business. Volta faces risks related to health pandemics, which could have a material adverse effect on its business and results of operations. For example, impacts to its business as a result of the on-going COVID-19 pandemic included, slow-down of permitting and construction activities during shutdowns, shutdown of properties where Volta's stations are located (such as movie theaters), impacting revenue potential and usage, drop off in media spend, and shut-down of offices and remote work force. Volta's business is subject to risks associated with construction, cost overruns and delays, and other contingencies that may arise in the course of completing installations, and such risks may increase in the future as Volta expands the scope of such services with other parties. Volta's future growth and success is highly correlated with and thus dependent upon the continuing rapid adoption of EVs for passenger and fleet applications. The success of alternative fuels, competing technologies or alternative transportation options or technologies could considerably undermine Volta's prospects. . . . . . Volta is developing and is operating in an emerging technology sector. Volta's charging stations could contain defects, and the full operating life of equipment in Volta's charging stations is not fully known and may malfunction through repeated use, any of the foregoing of which could result in property damage or bodily injury. Additionally, if any of Volta's charging stations or charging stations of our competitors, whether as the result of operator misuse, defect, malfunction or otherwise, results in property damage or bodily injury, the public may develop a negative perception of EVS, EV charging, or Volta and its brand image, which could negatively affect Volta's business and results of operations. . Volta's business and its ability to execute on its plan could be highly impacted by the regulatory environment in which Volta operates on the federal, state and local levels, including in the areas of infrastructure financing or support; carbon offset programs, EV incentives and taxes and tax policy; utility and power regulation; data privacy and security, transportation policy; and construction, electrical and sign code permitting. • The EV charging market is characterized by rapid technological change, which requires Volta to continue to develop new products and product innovations and maintain and expand its intellectual property portfolio. Any delays in such developments could adversely affect market adoption of our products and Volta's financial results. The EV market currently benefits from the availability of rebates, tax credits and other financial incentives from governments, utilities and others to offset the purchase or operating cost of EVs and EV charging stations. The reduction, modification, or elimination of such benefits could cause reduced demand for EVs and EV charging stations, which would adversely affect Volta's financial results. Volta maintains certain levels of insurance; Volta may, however, face claims from time-to-time that could exceed its insurance coverage or not fall within its coverage. Volta may be unable to collect and leverage customer data in all geographic locations, and this limitation may impact research and development, media sales, partnership relations and operations. Volta depends on media and advertising revenue, which is seasonal and subject to market conditions outside of its control, and it may not be able to place media in certain geographies until it has achieved scale in such geographies. Volta's forecasted operating results rely in large part upon assumptions and analyses developed by Volta. If these assumptions and analyses prove to be incorrect, Volta's actual operating results may differ materially. volta Tortoise Acquisition Corp.ll#5Risk Factors Risks Related to the Business Combination Both Tortoise II and Volta will incur significant transaction costs in connection with the Proposed Business Combination. The consummation of the Proposed Business Combination is subject to a number of conditions and if those conditions are not satisfied or waived, the Proposed Business Combination Agreement may be terminated in accordance with its terms and the Proposed Business Combination may not be completed. The ability to successfully effect the Proposed Business Combination and following the consummation of the Proposed Business Combination, the combined company's (the "Combined Company") ability to successfully operate the business thereafter will be largely dependent upon the efforts of certain key personnel of Volta, all of whom Volta expects to stay with the Combined Company following the consummation of the Proposed Business Combination. The loss of such key personnel could negatively impact the operations and financial results of the combined business. There is no guarantee that a stockholder's decision whether to redeem its shares for a pro rata portion of the Trust Account will put the stockholder in a better future economic position. If the Proposed Business Combination's benefits do not meet the expectations of investors or securities analysts, the market price of Tortoise Il's securities or, following the consummation of the Proposed Business Combination, the Combined Company's securities, may decline. There can be no assurance that the Combined Company's common stock will be approved for listing on the New York Stock Exchange (the "NYSE") or that the Combined Company will be able to comply with the continued listing standards of the NYSE. • Legal proceedings in connection with the Proposed Business Combination, the outcomes of which are uncertain, could delay or prevent the completion of the Proposed Business Combination. The Proposed Business Combination or Combined Company may be materially adversely affected by the on-going COVID-19 pandemic. Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect Volta's business, including our ability to consummate the Proposed Business Combination, and results of operations. . . . . . . volta Tortoise Acquisition Corp.ll 5#6Transaction Summary ▸ Founded in 2010, Volta has been building one of the most used electric vehicle (EV) charging stations in the United States¹ SUMMARY OF TRANSACTION ▸ Volta's award-winning charging stations benefit brands, consumers and real-estate locations by providing valuable advertising space to businesses and EV charging to drivers ▸ Tortoise Acquisition Corp. II (Tortoise II) (NYSE: SNPR) is a publicly listed special purpose acquisition company (SPAC) with ~$345M of cash held in trust ▸ Tortoise II anticipates entering into a business combination agreement with Volta in Q1 2021 Volta shareholders are rolling 100% of their equity Transaction proceeds are being retained in the business ▸ Pro Forma for the transaction (assuming no redemptions) volta ▸ Pro Forma enterprise value of $1.4Bn volta Volta will have an additional ~$600M of proceeds net of transaction fees to fully fund business model through cash flow positive Near-term EBITDA relative to public charging peers Represents attractive entry point relative to recently announced public SPAC transactions SCOTT MERCER Founder + CEO + Chair Tortoise Acquisition Corp.ll CHRIS WENDEL Co-Founder President + Director DREW LIPSHER CSO Issuer 6 Ticker/Listing Securities Offering Size Use of Proceeds LEADERSHIP SUMMARY OF PIPE OFFERING Expected Closing Date VINCE CUBBAGE CEO + President + Chair Tortoise Acquisition Corp. II (name to be changed to Volta Inc. at closing) NYSE: SNPR (to become NYSE: VLTA at closing) Unregistered Class A Common Stock (customary registration rights) $300M Develop the existing backlog of Volta charging station location demand and accelerate further growth within the company ~Q2 2021 STEPHEN PANG CFO + Director T Tortoise Acquisition Corp.Il 1: Company data and publicly available information.#7Why Volta volta 1 2 3 4 LO 5 6 Tortoise Acquisition Corp.ll Market opportunity that capitalizes on transformational industry megatrends Differentiated and unique EV charging business model Compelling revenue diversity and unit economics Top charging utilization amongst competitors Highly visible site pipeline creates predictable growth Experienced management team 7 Supporting detail provided throughout presentation.#8The transition to electric mobility is one of the largest macro-economic shifts in our lifetime. volta Tortoise Acquisition Corp.Il 11:20#9Electric cars will be cheaper than gas cars beginning in 36 months volta Battery Cost ($/kWh) $ 400 $ 350 $300 $ 250 $200 $ 150 $ 100 $ 50 $0 BATTERY COST CURVE DECLINES ... 2016 Tortoise Acquisition Corp.ll Battery costs drop <$100/kWh beginning in 2024; EVS compete on cost with ICE 2018 2020 2022 2024 2026 2028 2030 9 2010'S TODAY TOMORROW .….. BRINGING EV COST TO INFLECTION POINT ICE $46,700 $40,250 $58,900 EV ~$10K MORE EXPENSIVE EV PRICE PARITY EV ~$10K CHEAPER THAN ICE EV $57,400 $37,990 $49,990 Source: BloombergNEF and other publicly available data.#10The cars are coming... Million Vehicles Sold volta 10.0 8.0 6.0 4.0 2.0 0.0 U.S. PASSENGER ELECTRIC VEHICLE SALES 2015 +20% Growth CAGR Through 2040 +30% Growth CAGR Through 2030 2020 Tortoise Acquisition Corp.ll 2025 2030 2035 2040 Million Connectors 2.5 2.0 1.5 1.0 0.5 0.0 2015 CUMULATIVE U.S. PUBLIC CHARGER DEMAND 2040: +24x Expansion vs. Today 2030: +8x Expansion vs. Today 2020 2025 10 2030 2035 2040 Billions $10.0 $8.0 $6.0 $4.0 $2.0 $0.0 ANNUAL U.S. PUBLIC CHARGING INVESTMENT REQUIRED ~$25Bn of Public EV Charging Development by 2040 2020-2025 2025-2030 2030-2035 2035-2040 Source: BloombergNEF.#11The cars are coming... volta DAIMLER W gm Ford The OEM's are committing Tortoise Acquisition Corp.Il Electrify Entire Mercedes-Benz Portfolio by 2022 22M Electric Vehicles in the next 10 Years & $91Bn in Committed EV Spending 30 EV Models by 2025 & $27Bn in Committed EV Spending $11.5Bn in Committed EV Spending by 2022 & Recent Mustang Mach-E Launch Expects EVS to Make Up 15%-25% of 2025 Sales with +7M Electrified Vehicles on the Road by 2030 The rise of EV-first companies ZO OX polestar LORDSTOWN. I I NIO 11 C | - CANOO - T TESLA RIVIAN LUCID Government is going big... Federal +500K charging cords by 2030 (Biden) DOE, DOT, and other federal cabinet/ agency postings filled with climate friendly/ active leaders State By 2035, all new cars sold in CA, MA, and NJ will likely be zero- emission vehicles Regulatory/ Utilities NY Public Service Commission approves $700M to fund EV Charging Infrastructure for multiple utilities Southern California Edison $436M Charge Ready infrastructure program, making it the largest single-utility program in the country. Source: Publicly available information.#12Disruption stories create new addressable markets volta Cable Television/ DVD Rental NETFLIX Tortoise Acquisition Corp.Il ARMA Retail amazon Travel Planning priceline.com 12 207 Hotels Fueling airbnb volta#13And $500BN of revenue will shift as fueling behavior evolves $500Bn U.S. drivers clock 3 trillion miles per year costing them $200Bn volta 150,000 US gas stations' revenue up for grabs Tortoise Acquisition Corp.Il $300Bn Non-fuel amenities and services are also up for grabs 13 Source: Publicly available information.#14We no longer go to fuel up, we fuel up where we go. The biggest economic opportunity isn't in fueling dollars, it's in the behavior shift surrounding fueling habits. volta ~$500Bn Annual U.S. Gasoline Station Sales C-STORE $200Bn SALES FUEL SALES Tortoise Acquisition Corp.Il $300Bn Purchasing shift from C-Stores to groceries increases transaction values $8 Average Transaction at Gas Station C-Store EV adoption decreases overall fuel costs by 60% Only 15% of charged miles will be delivered in public 14 $35 Average Transaction at Grocery Store ~$1Tn Annual EV Charging + related store purchases ~$1Tn $180Bn $27Bn PUBLIC CHARGING REACHABLE PURCHASING MARKET ELECTRIC CHARGING Volta Ecosystem Charging Industry Source: EIA, The Food Industry Association, International Council on Clean Transportation, Convenience Store News Industry Report and other publicly available data.#15volta Tortoise Acquisition Corp.Il C 15#16THE VOLTA MODEL MARKET OPPORTUNITY COMPANY & METRICS TRANSACTION OVERVIEW 16#17Commerce-Driven Charging A client-first model that uses commerce and charging to unlock the larger macro opportunity surrounding the disruption of fueling volta • Proprietary data-driven planning High-traffic/ high-visibility, premium partner locations Bespoke configuration (full range of AC and DC products) • Land and expand development model Revenue: Public and private network investment opportunities; rebates and tax credits ● NETWORK DEVELOPMENT ● Tortoise Acquisition Corp.Il The Volta Business Model BEHAVIOR & COMMERCE • Full-funnel behavioral understanding and impact (store choice, dwell time, product choice) Multiple revenue streams and counter-parties that are secured with +10yr contracts • Revenue: Network monetization that is independent of EV adoption (turns on early and compounds with growth) 17 CHARGING OPERATIONS Among the highest utilization and best in class up- time in the industry • The most miles delivered per dollar invested • Revenue: Multiple revenue streams that index to EV adoption (Pay Per Use, Idle Fees, Managed Services, Fleet); carbon and other credit strategy Source: Company data and other publicly available information.#18TOWERS Volta at Whole Foods, Los Angeles The ideal site example¹ volta WHOLE FOODS DC Tortoise Acquisition Corp.Il L2 Kelly you L2 DC 18 TOWERS VOLTA SITE VALUE COMPONENTS Network Development Utility make-ready and rebate programs Other public and private network investments Tax-equity Charging Operations Managed service model Carbon credits and FC1² credits Mature EV adoption and driver Pay Per Use Charging + Idle Fees + Distributed and on-site Fleet Pay Per Use Charging Behavior & Commerce OEM launch campaigns Entertainment vertical Programmatic media National advertisers Shopper marketing + Local advertisers A layer cake of value that compounds with: 1. Network Growth 2. EV Adoption 3. Brand Awareness 1: For illustrative purposes, represents the opportunity in portfolio. 2: "Fast Charge Incentive" credits.#19Company Timeline Adding services and revenue with market growth volta 2012 2013 BEHAVIOR & COMMERCE NETWORK DEVELOPMENT Hawaii Pilot Site CHARGING OPERATIONS 2014 Tortoise Acquisition Corp.Il California Site Build CUMULATIVE INSTALLED STATIONS 9 31 71 POWER IS YOURS 888.SOL.CITY SOLARCITY.COM 2015 AC Charging 160 WA 2016 Automotive Network Launch 203 Tannehill Promenade 2017 363 2018 OPTRA Data Launch Network Investment Partnership Launch Carbon Credit Launch 19 606 2019 2020 Programmatic Network Launch 1,082 DC Fast Charging Shopper Marketing Partnership 2021 1,507 Driver Loyalty Pay Per Use Fleet 3,142E volta 2022 and Beyond Volta EU Launch In-Car Partnership Plug & Charge#20Volta's Current Unit Economics: Stations grow in value as the network scales Cumulative Cash Flow per Station $600,000 volta $450,000 $300,000 $150,000 $0 -$150,000 Tortoise Acquisition Corp.Il 1 2 3 6-7X ROI on Current 4 5 Development (Years) 6 7 20 8 9 10 CURRENT¹ L2 UNIT ECONOMICS 46% 3.4YRS Payback Period IRR CURRENT¹ DCFC UNIT ECONOMICS 45% 3.8YRS IRR Payback Period Cumulative Cash Flow - Current L2 Cumulative Cash Flow - Current DCFC 1: Current unit economics are based on historical performance and 2021 network assumptions. Source: Company projections.#21Volta's Mature Unit Economics: The impact of network effects on our unit economics Cumulative Cash Flow per Station $600,000 volta $450,000 $300,000 $150,000 $0 -$150,000 0 Tortoise Acquisition Corp.Il 1 2 3 16x ROI on Mature 4 5 H Development (Years) 6 7 21 8 9 10 MATURE¹ L2 UNIT ECONOMICS 142% <2YRS Payback Period IRR MATURE¹ DCFC UNIT ECONOMICS 128% IRR <2YRS Payback Period Cumulative Cash Flow - Mature L2 Cumulative Cash Flow Mature DCFC 1: Mature unit economics are based on 2025 network assumptions. Source: Company projections.#22Volta's Site Unit Economics: Sites grow in value as EV demand on site increases Volta's land and expand strategy installs new charging units when EV demand in the market grows Annual Revenue per Site $1,400,000 $1,050,000 $700,000 $350,000 volta $0 1 Tortoise Acquisition Corp.Il 2 3 L 4 Site economics grow by 41% CAGR over 10 Years 5 Development (Years) 6 7 22 8 9 Original Build Expansion 2 10 Expansion 1 Expansion 3 L2 Expansion 3: 10 x Towers Measured value from Volta stations supported by data and continued increase in EV penetration, drives further expansion. DCFC Expansion 2: 4 x Towers 4 x Media Increased EV penetration into the market drives demand for full service charging offerings, including DCFC. 2x Media 2 x Media Expansion 1: After initial build, site partner sees value of Volta stations for their property and requests more to be installed. Initial Build: 2x Media Total Stations: 18 x L2 + 6 x DCFC Source: Company projections.#23Network traction builds flywheel velocity National scale leverage expected to turn on at ~10,000 screens volta SEATTLE PORTLAND SACRAMENTO SAN FRANCISCO HONOLULU LAS VEGAS LOS ANGELES SAN DIEGO PHOENIX Tortoise Acquisition Corp.Il DENVER AUSTIN SAN ANTONIO 3-4yrs CHICAGO DALLAS HOUSTON DETROIT Line of Sight Development with existing Station Pipeline PHILADELPHIA WASHINGTON, DC ATLANTA NEW YORK MIAMI BOSTON 23 SCREENS STATIONS SITES INSTALLED¹ CONTRACTED PIPELINE 3,014 2,224 20,136 1,507 1,112 10,068 459 471 5,030 1: Installed Network as of 01/01/21. Source: Company projections.#24A track record underwritten by established partners and client success volta STORES The GIANT Company amazon fresh Albertsons Giant Walgreens seb TOPGOLF Stop&Shop WHOLE FOODS MARKET Saks Fifth Avenue Tortoise Acquisition Corp.Il Network Development REITS Brookfield Properties SI TIE KIMCO REALTY BRIXMOR™ MACERICH WEINGARTEN REALTY Regency Centers. STARWOOD RETAIL PARTNERS COMMUNITY ORACLE ARENA & Dignity Health. UNITED CENTER wille LOYOLA UNIVERSITY CHICAGO CHMON FORNE AU 1905 TIGARD Bergen County Zoological Park CO OEMS NISSAN JAGUAR MINI polestar FIAT 8 HYUNDAI CHRYSLER TOYOTA 24 Behavior & Commerce¹ NATIONAL ADVERTISERS f smartwater NETFLIX Alaska AIRLINES CHASE COFFEE Nestle ANHEUSER-BUSCH сох hulu CHANNEL PARTNERSHIPS VISTARMEDIA SCREEN VISION MEDIA SV Peaped Data UTILITIES & GOVERNMENT Georgia Power Alabama Power EVERS URCE ENERGY SOUTHERN CALIFORNIA EDISON Energy for What's Ahead" (D BEACH CITY OF HUNTINGTON ORANGEORNIA GE 1: Examples of current and past media clients.#25Social good and commercial success are intertwined 10YR ESG FORECAST volta 21cwh 6.0Bn Gas Driven Miles Offset Energy Delivered 232M 8.2Bm Tons of CO2 Offset Gallons of Gas Offset Tortoise Acquisition Corp.Il MILES DELIVERED PER DOLLAR INVESTED ¹ 1 25 volta EVgo -chargepoin+ electrify america 1.7 Miles 0.9 Miles 0.6 Miles 0.2 Miles 1: Return calculated as energy deployed over unit capex cost. Source: Company projections, internal utilization statistics and publicly available information.#26The Volta Team SCOTT MERCER Founder + CEO,+ Chair volta ~150 volta CHRIS WENDEL Co-Founder + President + Director Goldman Sachs Number of current employees Tortoise Acquisition Corp.ll DREW LIPSHER CSO Clear Channel GREYCROFT JIM DEGRAW General Counsel + CAO ROPES & GRAY JON MICHAELS EVP, Network Development ⒸENERNOC MIKE EVANS SVP, Investment Committee PROLOGIS PRAVEEN MANDAL CTO -chargepoin+ KAREN ZELMAR SVP, Network Planning PG&E 26 JEFFREY KINSEY SVP, Engineering amazon Microsoft NADYA KOHL CMO Place IQ experian. TED FAGENSON SVP, Site Development -chargepoin+ 199 DR. ABDELLAH CHERKAOUI SVP, International -chargepoint sodexo BRANDT HASTINGS CRO DREW BENNETT SVP, Network Operations T iHeart MEDIA ANDREW CORNELIA Chief of Staff T DEBRA CROW CFO YAHOO! MIKE SCHOTT SVP, Media Sales VIANT. San Francisco Chronicle#27Network Development volta Tortoise Acquisition Corp.Il Network Development 01 Fueled by our proprietary data product - OPTRA - it all starts with a deep understanding of how the electric revolution will unfold. Charging Operations 02 Charging services that create much more value than selling electrons on their own. 27 Behavior & Commerce 03 A monetization platform that leverages behavioral understanding to contribute in all phases of EV adoption.#28Volta's Network Planning Tool Predicting charging demand and economic, social, and grid impact allows Volta to maximize the efficiency and impact of our network. volta This tool is of national and global significance. -DR. PETER FOX-PENNER CHIEF STRATEGY AND IMPACT OFFICER EIP; DIRECTOR OF BOSTON UNIVERSITY'S INSTITUTE FOR SUSTAINABLE ENERGY Tortoise Acquisition Corp.Il volta EVA MASSISTIROL Custom Scenario Planning Drew Boundary TENNESSEE 28 Block Groups Metrics CO Current Electric Vehicles Proposed EV Charging Stat 125 Impact Vale of Statistical Life Demographics Population - Sites L-DF- Households- Predicted Usage Per Port Predicted Session Per Por 600 450 Export Report DAY WER 17-Pachyn Micro GDP- EV'S per Household#29A DEEP UNDERSTANDING EV charging demand is changing retail Machine-learning-driven demand forecasting allows us to predict the current and future need for charging services. Market leading planning delivers the most miles per dollar invested. 22 Stations volta 3,965 $3.1M Charges per Month VOLTA LEVEL 2 Tortoise Acquisition Corp.Il EV Driver Retail spend per year VOLTA DC FAST VOLTA TOWER 29 CHASE ZARA APPLE STORE STONESTOWN GALLERIA SEPHORA Source: Company research and analysis.#30Network Operations volta Tortoise Acquisition Corp.Il Network Development 01 Fueled by our proprietary data product - OPTRA - it all starts with a deep understanding of how the electric revolution will unfold. 02 Charging Operations Charging services that create much more value than selling electrons on their own. 30 Behavior & Commerce 03 A monetization platform that leverages behavioral understanding to contribute in all phases of EV adoption.#31Our award-winning, user-experience focused product family allows tailored site planning reddot winner 2020 volta II volta Tortoise Acquisition Corp.Il il Pro 12 DESIGN AWARD 2020 60 volta Pro 10 20 volta Pro 08 90 volta Pro 31 06 0 volta P 04 TO volta P 02 D Hell & fot#32Unrivaled EV Charging Utilization Last Year Per Port Across Volta's: CALIFORNIA NETWORK US NETWORK volta Tortoise Acquisition Corp.Il ALL GRIT. NO FUSS. LOCATED IN VENICE ARTS DISTRICT & THE GROVE SHINOLA DETROIT VOLTA Average Charging Sessions Daily 7 5 FAST VOLTA Average Hours of Daily Use 10HRS 7HRS 32 SHINOLA EST GIFTS ME TIMELES Average Charging Session Length 110MINS 148MINS 25 GIGAWATT HOURS DELIVERED 88M FREE SPONSORED ELECTRIC MILES 4.9M CHARGING SESSIONS 39M CO2 EMISSIONS OFFSET LBS Source: Company internal data and publicly available information.#33All charging networks sell visitorship, we deliver it. volta electrify america Per Port Across Electrify America's California Network M T <1x Average Charging Sessions Daily Tortoise Acquisition Corp.Il W T F 0.1HRS Average Hours of Daily Usage S S 34MINS Average Charging Session Length 33 volta Volta's California Network M T 7x Average Charging Sessions Daily 4 W T 10HRS Average Hours of Daily Usage F S S 110MINS Average Charging Session Length Note: Volta network data based on actual CA utilization compared to a single representative competitor. Source: Company data and publicly available filings.#34Driver Experience volta FAST VOLTA SING.COM Tortoise Acquisition Corp.Il Please verify your email. This is required to access many features. Check In Water Tower Center Garage Level 3 Open 6am - Midnight v 15555 E. 14th St. San Leandro, CA 94578 DC Fast 04 Available L2 Chargers 03 04 04 15 mins free, then $0.26/kWh V 2 hours free, then $0.18/kWh V In Use Available Available Check in Directions 12 mi | 34 mins drive Check in Check in Check in 34 Charge Starting your charge Free for 15 mins, then $0.26/kWh. Cancel Report an Issue Thanks for charging with Volta! Total Cost $8.48 Cost Breakdown Free Charging First 15 minutes are on us! Extended Charging 40 kWh @ $0.26/kWh Idle Fees Begin 5 mins after charge stopped @ $.50/min Taxes @6.5% Charging Details Go Charging Time Energy Delivered Site Info $2.60 $7.80 $0 0.68 1 hr 40 kWh#35Behavior & Commerce volta Tortoise Acquisition Corp.Il Network Development 01 Fueled by our proprietary data product - OPTRA - it all starts with a deep understanding of how the electric revolution will unfold. Charging Operations 02 Charging services that create much more value than selling electrons on their own. 35 Behavior & Commerce 03 A monetization platform that leverages behavioral understanding to contribute in all phases of EV adoption.#36The only network designed to increase traffic and spend volta Tortoise Acquisition Corp.Il HELLO Free electric vehicle charging has arrived. Plug-in right here for free electric miles VOLTA VOLTA 7x More EV Drivers Attracted 3x Longer Stays Achieved 36 66 When a nearby Safeway got free L2 Volta charging, I immediately switched grocers and haven't looked back. ELECTREK 2019 Note: Volta network data based on actual CA utilization compared to a single representative competitor. Source: Company data and publicly available filings.#37Media enabled charging • Access to prime locations Multiple advertising budgets Proven messaging efficacy Full-funnel behavioral understanding and impact (store choice, dwell time, product choice) Halo-effect raising consumer perception of participating brands ● ● volta Tortoise Acquisition Corp.Il 37 2 Polestar 2 100% electric 2 VOLTA FREE EV CHARGING#38A dynamic media asset that unlocks access to multiple media budgets AUTOMOTIVE ENDEMIC PROGRAMMATIC NATIONAL AGENCY ON-SITE CONTENT LOCAL OUTDOOR volta Tortoise Acquisition Corp.Il volta VISTARMEDIA volta Ahold Delhaize volta SCREEN SVE VISION MEDIA Kroger SCREEN SVE VISION MEDIA 38 TODAY A STORM IS BREWING volta 45" 32" RAIN LINDENI#39MEDIA EFFICACY Real world viewership, digital measurement "" Volta helped us create 66 awareness and trial in the Volta- activated Whole Foods locations. -DIRECTOR OF MARKETING Tolerant Foods Tolerant Foods is a maker of organic, plant-based pastas. As a smaller, emerging brand with limited grocery distribution and new packaging underway, the lack of visibility at retail was a challenge. Volta featured the brand front and center, driving a 35% sales lift. volta Tortoise Acquisition Corp.Il +35% SALES INCREASE 39 matchbox POWER UP AT HOME Tolerant Tolerant Organic RED LENTIL Tolerant FIND IT IN THE PASTA AISLE matchbox Note: Does not represent performance of every campaign. Source: Based on internal research and product level point of sale data.#40MEDIA EFFICACY Both onsite & off Nissan was the first to leverage Volta Vision to develop creatives that adapt to vehicles pulling into the station. With an endemic campaign and effective, tailored creative, Nissan drove 2,217 visits to Nissan dealerships across a six-week campaign. +168% +75% +2,217 volta Increase in Leaf Awareness Increase in likelihood to lease or buy Visits to dealerships during this campaign Tortoise Acquisition Corp.Il FLY SMART. LAND HAPPY 40 Alaska MISLIMES VOLTA VISION RECOGNIZES A NISSAN LEAF HAS PULLED IN TO THE STATION, DISPLAYS CUSTOM CREATIVE. WHOLE FO Source: Third-party research study and conversion from mobile re-targeting campaign.#41MEDIA EFFICACY What they're saying volta Many of our retail locations are near Volta stations. Our contextually branded messaging helped to direct customers to nearby Shinola stores. The stations provided an amazing advertising solution for us, especially in Q4 when our holiday sales were crucial. -ALEX DRINKER, VP OF MARKETING Shinola The ads really stand out. Hard for anyone walking by to miss them... Working with Volta has been great. They have some great minds over there. It's an innovative company with big things ahead of them. -JEFF D'ANNIBALE, PARTNER UM Tortoise Acquisition Corp.Il 41 66 Our partnership with Volta brought us results in many ways. It allowed us to successfully message shoppers in front of Whole Foods, increase our sales, and help us live up to our core values as a Certified B Corporation. -ELLIOTT RADAR, FOUNDER The Gluten Free Bar These are not your ordinary billboards, they are placements that align with our values related to environmental stewardship. -PIA BAKER, GROUP MARKETING MANAGER Arrowhead Water#42THE VOLTA MODEL MARKET OPPORTUNITY COMPANY & METRICS TRANSACTION OVERVIEW 42#43The Volta ecosystem is a trillion dollar market volta Tortoise Acquisition Corp.ll Data > $500B Vehicle Fueling > $500B TESLA Q Palantir ExxonMobil -chargepoint. EVBOX acxiom. uo Mu Sigma electrify americă Chevron EVgo volta 43 Google GSTV citi bike operated by motivate COX OUTFRONT/ NEWS AMERICA MARKETING Intersection JCDecaux Media Media > $170B Source: Publicly available data.#44Momentum and Policy in the US 66 volta We can own the electric vehicle market - building 550,000 charging stations - and creating over a million good jobs here at home -PRESIDENT JOE BIDEN The Biden Administration also plans to restore the full federal EV tax credit, incentivizing EV system consumption. Forward CAPEX in energy will be led by renewables totaling: Tortoise Acquisition Corp.Il $350Bn 44 Mc HELLO Free electric vehicle charging has arrived. Plug-in right here for free electric miles VOLTA VOLTA FREE BY CHARGING VOLTA AT QUANTICO Source: Publicly available data.#45THE VOLTA MODEL MARKET OPPORTUNITY COMPANY & METRICS TRANSACTION OVERVIEW 45#46New We believe our revenue is sustainable and stacks over time Installations volta 9,000 6,750 4,500 2,250 0 Tortoise Acquisition Corp.Il $25M 2020 LONG-TERM REVENUE FORECAST ($M) $47M 2021 Charging Network Cumulative Stations $141M FORECAST 2022 $280M 2023 Behavior & Commerce $47MM 2021 Revenue $492M 2024 Data & Other $826M 46 2025 100% 5 Yr ('20-25) CAGR 7% 56% 2025 FORECASTED REVENUE MIX O 2022 EBITDA Break-Even 37% Behavior & Commerce Charging Network Data & Other Note: 2020 based on unaudited year end forecast. Source: Company actuals and projections.#47Installation Forecast and Growth Outlook Cumulative Stations volta 1,507 2020A Tortoise Acquisition Corp.Il CUMULATIVE STATION INSTALLATIONS 3,142 2021 6,492 2022 11,242 2023 17,992 2024 47 26,242 2025 New Installations (During Year) Existing Installations (Year Start) STAR Source: Company actuals and projections.#48Long-Term Gross Profit and EBITDA Forecast 2020 volta 31% Gross Profit % LONG-TERM GROSS PROFIT FORECAST ($M) $19 2021 40% Tortoise Acquisition Corp.ll 2022 47% $135 2023 48% 49% $242 2024 53% $436 2025 ($29) 2020 48 LONG-TERM EBITDA FORECAST ($M) ($30) 2021 Competitor EBITDA Breakeven {$1) 2022 $33 2023 Strong unit economics expected to allow Volta to reach positive EBITDA in the near term $109 2024 EVBOX -chargepoin+ EVgo $252 2025 Note: 2020 based on unaudited year end forecast. Source: Company actuals and projections.#49Long-Term Financial Projections Summary volta Revenue YOY Growth Gross Profit Gross Margin % Total Operating Expenses EBITDA EBITDA Margin % CAPEX Tortoise Acquisition Corp.Il 2021 $47 85% $19 40% ($59) ($30) NM ($73) PRO FORMA FINANCIALS ($M) 2022 2024 $141 198% $66 47% ($92) ($1) NM ($130) 2023 $280 99% $135 48% ($149) $33 12% ($142) $492 75% $242 49% ($211) $109 22% ($189) 49 2025 $826 68% $436 53% ($303) $252 30% ($221) Expected best-in-class growth due to extensive development backlog Volta's average 2021-2023E gross margin percentage is 10% higher than median of EV charging competitors¹ Media-enabled charging model creates nearest EBITDA profitability among public charging peers Fully-funded business model supported by transaction capital raised and forecasted cash from operations 1: EV charging competitors include Evgo, ChargePoint, and EVBox. Source: Company projections, publicly available company materials.#50THE VOLTA MODEL MARKET OPPORTUNITY COMPANY & METRICS TRANSACTION OVERVIEW 50#51Detailed Transaction Overview $1.4Bn Enterprise Value - $300M PIPE volta TRANSACTION HIGHLIGHTS ● ● ● $345M Tortoise II Cash in Trust + $300M PIPE $1.4Bn Pro Forma Enterprise Value $662M Cash on Balance Sheet (assuming no redemptions) to fund network expansion Tortoise II shares post merger will trade as VLTA PRO FORMA OWNERSHIP 2 1 PIPE Investors 14.8% Tortoise II Investors 17.0% Tortoise Acquisition Corp.Il Founders' Shares 4.2 % Existing Volta Shareholders 64.0 % 51 Sources Estimated Cash Held in Trust PIPE Proceeds Existing Cash Total Sources Pre-Money Equity Value 3 (+) Tortoise II Shareholders (+) PIPE Shareholders (+) Founder Shareholders Post-Money Equity Value (+) Debt (-) Cash to Balance Sheet Enterprise Value Ownership Breakdown Existing Volta Shareholders Tortoise II Investors PIPE Investors Founders' Shares Equity Ownership Sources and Uses $M $ 345 300 61 $ 706 Uses Cash to Balance Sheet Debt Paydown Payment of Transaction Fees Total Uses Pro Forma Capitalization Pro Forma Ownership Shares (M) 130.0 34.5 30.0 8.6 $M $ 662 44 $ 706 $ 1,300 345 300 86 $ 2,031 % 52 (662) $ 1,422 64.0 % 17.0 14.8 4.2 203.1 100.0 % ¹ Existing cash and debt balances are as of 12/31/20. 2 Pro Forma ownership and capitalization assumes no redemptions by Tortoise II shareholders and excludes public warrants of 8,625,000, private warrants of 5,933,333, Founder Incentive Adjustment Plan shares of 10,500,000 committed to be awarded (and are subject to vesting based on continued service through January 1, 2022), and Omnibus Incentive Plan shares of 34,750,000 (16,500,000 of which are committed to be awarded and will be subject to various vesting requirements). 3 Equity value to Volta's existing shareholders is calculated as 130.0 million Tortoise II shares, using a $10.00 pro forma share price, on a fully diluted basis (assuming a net share settlement calculation for Volta's outstanding warrants and options (whether vested or unvested)).#52Discounted Future Value volta Tortoise Acquisition Corp.Il Transaction Value $1,422 Pro Forma Enterprise Value Discounted Future Value $4,250 -60% SPAC Discount To Midpoint $3,025 Discount 4 Periods At 20% Rate 52 Future Value $8,800 ~80% SPAC Discount To Midpoint $6,300 Valuation at 25x - 35x 2025E EBITDA 7.6x-10.7x 2025E Revenue Source: Company projections.#53Public Company Universe volta EV Infrastructure Network Owner/ Operator EVgo blink Tortoise Acquisition Corp.Il Hardware Providers EVBOX -chargepoin+ Publicly-listed EV charging-based companies and other recently announced SPAC transactions Business model varies from equipment / support sales to station operators ● . Energy Technology e ENPHASE solaredge ARRAY TECHNOLOGIES Technology-solution for clean energy growth Attracts premium valuation 53 EV Technology T TESLA EV-adoption driven growth story Capex intensive business model#54Volta's Differentiated Business Model Provides a Competitive Advantage volta Business Model Infrastructure Ownership Network Provider Software Offering Manufacture Hardware Monetization Electricity Sales Media & Advertising Data & Intelligence Services Charging Network Services Hardware Unit Sales Revenue Growth CAGR ('21E-'25E) Long-Term Gross Profit Margin EBITDA Break Even Year Valuation EV / '24E Revenue EV /'25E Revenue EV /'24E EBITDA EV/'25E EBITDA Tortoise Acquisition Corp.ll volta 104.6% +50% 2022E At Announce 2.9x 1.7x 13.0x 5.7x Network Owner/ Operator EVgo ✓ 133.6% +50% 2023E At Announce / Current 6.3x/14.6x 3.4x / 8.0x 34.3x/79.0x 10.7x / 24.7x 54 blink ✓ N/A ~30% N/A Trading 213.5x (2021E) N/A (2021E) Hardware Providers EVBOX -chargepoin+: ✓ N/A ~40% 2023E At Announce / Current N/A N/A N/A N/A ✓ 63.8% ~40% 2024E At Announce / Current 2.4x/14.6x 1.7x / 10.0x 27.9x/166.6x 13.5x / 80.5× Source: Publicly available company Materials, CapIQ; market data as of 04-Feb-2021. Note: EVgo, ChargePoint, and EVBox enterprise value includes dilution from warrants and options using treasury share method.#55Operational Benchmarking volta 99 % Volta (2023E) 48 % Volta (2023E) 12% Volta (2023E) Tortoise Acquisition Corp.ll 75% Volta Volta (2024E) (2025E) 49% Volta (2024E) 68 % 22% 53 % 207 % 30 % EVgo (2023E) 60 % 97% 3% EVgo (2024E) Volta EVgo EVgo (2025E) (2023E) (2024E) 56% 19% Volta Volta EVgo EVgo (2024E) (2025E) (2023E) (2024E) 83 % EVgo (2025E) 58 % EVgo (2025E) 32% EVgo (2025E) Projected Revenue Growth 74% 63% 37% ChargePoint ChargePoint ChargePoint (2023E) (2024E) (2025E) Projected Gross Margin 41% 45 % ChargePoint ChargePoint ChargePoint (2023E) (2024E) (2025E) 9% 41% Projected EBITDA Margin 55 12% ΝΑ ChargePoint ChargePoint ChargePoint (2023E) (2024E) (2025E) 65 % EVBOX (2023E) 38% 90 % 1% Blink (2021E) 30% EVBox Blink (2023E) (2021E) ΝΑ EVBox Blink (2023E) (2021E) 66% Enphase SolarEdge (2021E) (2021E) 38 % Enphase (2021E) 22% 26% 33 % SolarEdge (2021E) 19% 15% Array (2021E) 23 % 30 % 17% Tesla (2021E) 17% Array Tesla (2021E) (2021E) 18 % Tesla Enphase SolarEdge Array (2021E) (2021E) (2021E) (2021E) EV Charging Energy Technology EV Technology Source: Volta Management Projections, Publicly Available Company Materials, IBES Consensus, CapIQ; market data as of 04-Feb-2021.#56Financial Benchmarking - $1.4BN Volta Valuation volta 5.1 x Volta (2023E) 0.10 x Volta (2023E) Tortoise Acquisition Corp.ll 43.7 x Volta (2023E) 2.9 x Volta (2024E) 0.07 x Volta (2024E) 13.0 x Volta (2024E) 1.7 x Volta (2025E) 0.04 x Volta (2025E) 5.7 x Volta (2025E) 28.8 x EVgo (2023E) 0.43 x 14.6 x EVgo (2024E) 0.30 x 79.0 x 8.0 x NM EVgo EVgo (2023E) (2024E) EVgo (2025E) EVgo EVgo EVgo (2023E) (2024E) (2025E) 0.18 x 24.7 x Projected EV / Revenue ChargePoint ChargePoint ChargePoint (2023E) (2024E) (2025E) Projected EV / Revenue / Growth EVgo (2025E) 23.8 x 14.6 x 0.56 x 0.38 x 10.0 x 166.6 x ChargePoint ChargePoint ChargePoint (2023E) (2024E) (2025E) Projected EV / EBITDA 0.32 x 56 80.5 x ΝΑ ChargePoint ChargePoint ChargePoint (2023E) (2024E) (2025E) 9.5 x EVBox (2023E) 0.24 x 213.5 x NM EVBOX (2023E) Blink (2021E) ΝΑ EVBox Blink (2023E) (2021E) 19.7 x Enphase (2021E) 0.73 x Enphase (2021E) 74.2 x 8.5 x SolarEdge (2021E) 0.38 x SolarEdge (2021E) 45.0 x 5.6 x Array (2021E) 0.34 x Array (2021E) 32.3 x ΝΑ Blink Enphase SolarEdge Array (2021E) (2021E) (2021E) (2021E) 15.0 x Tesla (2021E) 0.85 x Tesla (2021E) 83.7 x Tesla (2021E) Source: Volta Management Projections, Publicly Available Company Materials, IBES Consensus, CaplQ; market data as of 04-Feb-2021. | Note: EVgo, ChargePoint, and EVBox enterprise value includes dilution from warrants and options using treasury share method.#57Tortoise II Investment Thesis Tortoise Acquisition Corp.Il volta Tortoise Acquisition Corp.Il High Quality Business & Management Transformative Growth Opportunities Attractive ESG Attributes Tortoise II Approach to Long-Term Value Creation ● Tortoise II has identified Volta as a leader in the U.S. EV charging infrastructure market with a differentiated and durable business model that will appeal to the public markets 10 year operating history and experienced management Megatrend tailwinds including electrification, decarbonization, digital media and big data The global EV revolution will require more than 55 mm chargers and 525 TWh to 770 TWh of electricity in passenger and commercial sectors by 20301 Sustainability driven business model allows acceleration of a decarbonized transportation industry Over 88 million miles of free electric charging delivered to consumers Newly formed independent board of directors for pro forma company Focus on bilateral negotiated transaction rather than broadly marketed SPAC processes to provide win-win solution for all parties Value added sponsor team with public company and capital markets track record 57 1: Source: McKinsey & Company.#58volta DE HARO LINDENI Tortoise Acquisition Corp.Il 10 CAFETTE Imitis You/ye Drive Forward Note: Site rendering, not based on actual site.