Stem SPAC Presentation Deck

stem Public comparable universe Solar Technology Solutions Stem Peers Relevance to Stem ARRAY ENPHASE TECHNOLOGIES ● solaredge Robust upfront cash generation Serves similar end markets Distributed Solar ● sunnova SUNPOWERⓇ sunrun Diversified long-term contracted cash flows Increasing BTM storage attachment rates ● ● Sustainable Infrastructure ● ● Bloomenergy -chargepoin+ • ESG-friendly High growth supported by large TAM Strong fundamental tailwinds Scarcity premium Upfront equipment margins augmented by recurring cash flows stem Confidential Diversified Energy Tech TESLA ● Emphasis on FTM and BTM energy storage business 33

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