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Investor Presentaiton

VFB has lowest costs for long discharge times Li-ion closed architecture VFB Scalable architecture Source: CellCube 4 Energy 1 Power SA A SA A 00 +A A A A +A EA $ $ 0000 $ A +A EA +A A A $ $ $ A A 000000 い Power components must be added to achieve longer duration → creates costs although the power is not needed 4 hrs 8 hrs 12' hrs The longer the duration, the lower the $/MWh Energy Power Corporate Presentation | March 2024 | ASX:AVL A A Australian VANADIUM LIMITED Limited scalability Power and energy in fixed ratio - longer duration costs become relatively high Duration increased by adding power and energy . A LA LA A A A SA A A A LA No additional power components needed → no additional costs SA • Scalable system Power and energy are independent from each other - so, longer discharge times become cheaper with vanadium flow batteries Discharge duration increased by adding vanadium electrolyte 28
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