Nuvve Results Presentation Deck

EV & POWER DEMAND FORECAST Explosive growth: Figure 3: Electric vehicle fleet forecast by vehicle type, base-case By 2040, an estimated 550 million EVs will be on the road Globally, EVs will represent more than two-thirds of passenger vehicle sales by 2040 Increased power demand: By 2040, EVs are projected to make up 10% of total electricity demand in the U.S. and Europe Million 600 400 200 E-buses Commercial EVS Passenger EVS Sources: BloombergNEF Economic Transition Scenario, Vehicle-to-Grid Big Opportunities Big Challenges March 2021 report ©2022 Nuvve Holding Corp. All rights reserved. Confidential and proprietary. 12 Figure 4: Electric vehicle electricity demand as a percentage of total electricity demand 15% 10% 5% % 0% Europe V2G helps solve the grid issues EV growth creates U.S. 0 2020 2025 2030 2035 2040 2020 2025 2030 2035 2040 Source: BloombergNEF Note: Analysis from BNEF's Electric Vehicle Outlook. The EV fleet represents 29% of all vehicles on the road in 2040. Commercial EVs includes vans and trucks. China • Global average NUVVE

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