Advent Investor Presentation Deck

ADVENT HT-PEM MEA TECHNOLOGY IS A GAME CHANGER LIFETIME / 60 [HR TO 10% VOLTAGE LOSS] HT-PEM to LT-PEM Comparison --ADVENT HT-PEM FUEL FLEXIBILITY [CO TOLERANCE / 1000 (PPM)] ADVENT RESILIENCE - HIGHEST TEMP 200 180 160 140 120 100 80 60 40 20 a --LT-PEM RUNS HUMID OR DRY [% RH DELTAI PEAK POWER / 10 [mW / cm2] Competitive Advantage Next-Generation Technology: LT-PEM developed in 1960s has reached its limits (75°C operation) New Chemistry: LT-PEM is water-based while HT-PEM relies on a conductive plastic resilient to extreme temperatures. No water management allows for a simpler design, longer lifetime and smaller balance of plant Great Potential: Beginning of lifecycle product with room for substantial further improvement Technical Specs Long lasting Fuel- Flexible Resilient Sustained High Power Cost Advantage Degradation is still a problem for fuel cells Advent triples lifetime (-10,000 vs. 3.500 hrs @ 10% power loss) H₂ infrastructure installs fast with methanol or H₂ sources like biogas Impurities in regular hydrogen such as 10 ppm CO damage LT-PEM Our materials withstand > 2 % CO (4% at 200C) HT-PEM function despite air pollution conditions, unlike LT-PEM Environmental flexibility increases life and reduces cost Advent units work anywhere in the world LT-PEM does not run well hot or dry: < 50% RH and >30 °C ambient. Our technology runs from 0% RH (Nevada) to 100% (Florida) Advent runs -30 °C to +55 °C ambient temperature at FULL POWER Similar to current tech (1,100 mW/cm2 peak power) without the extra weight and volume of complex cooling and water management Roll-to-roll processing for automation integration Mated to catalyst technology that reduces platinum 8-10 fold Simpler system design and fuel flexibility drop TCO substantially Actively developed with world-leaders in research: NREL, LOS ALAMOS, BROOKHAVEN and U.S. DEPARTMENT OF ENERGY Target Product Roadmap 2021 2022 Prototype Optimized MEA MEA 2023 Pilot Production 2024 Mass Production Any Fuel. Anywhere. 25

View entire presentation