Investor Presentaiton

electriq power RISK FACTORS Electriq is a relatively new company with a history of losses, and we expect to incur significant expenses for the foreseeable future. We cannot be certain that we will achieve or sustain profitability. Electriq's limited operating history and its rapidly evolving industry make it difficult to evaluate Electriq's business, the risks and challenges it may face and future prospects. Electriq's operating and financial results and growth forecast rely in large part upon assumptions and analyses developed by Electriq. If these assumptions or analyses prove to be incorrect, Electriq's actual operating results may be materially different from Electriq's forecasted results. The energy storage industry is highly competitive and rapidly changing. Our business may be adversely affected if we cannot adapt quickly and effectively. ► A recession could reduce demand for our products and materially harm our business. ► Potential tariffs or a global trade war have increased our costs and could further increase the cost of our products. Almost all of our revenues in 2020, 2021, and 2022 were derived from two customers, and one of our customers accounted for greater than 85% of our revenue in 2022. This customer has notified a supplier of ours that it is exiting the residential battery storage business and thus was ending their customer relationship with us. Accordingly, we do not expect to generate any revenues in 2023 and 2024 from that customer relationship. Electriq may not realize the full amount of revenue estimated to be potentially generated over a 30-month period under a project financing agreement entered into with a major U.S. clean-energy company. This revenue will be realized only after the clean-energy company approves particular project proposals; the clean-energy company may decline to approve projects in its sole discretion. If we do not propose projects with a sufficient value, or if the clean-energy company declines to approve projects we propose, there is a risk that we will not generate the revenue that we expect to generate from that financing agreement and that we will fail to meet our revenue and other projections. There is no assurance that non-binding letters of intent and memoranda of understanding included in our projections will be converted into binding contracts. Our counterparties may cancel or delay entering into contracts based on the non-binding letters of intent and memoranda of understanding. We expect to derive a large portion of our revenue from installations that are associated with contracts with government entities. Contracts with government entities are subject to a number of challenges and risks. If we are unable to enter into such contracts on a timely basis, our growth, revenue and results of operations may not meet our projections. We rely on a small number of third party suppliers. This reliance on third parties increases the risk that necessary components of our products may not be delivered according to our schedule and at prices, quality levels and volumes acceptable to us. We have projected that the majority of our revenue in 2023 and 2024 will be derived from Sustainable Community Networks. We have not generated any revenue from Sustainable Community Networks in the past. There can be no assurances that we will meet our projections for Sustainable Community Networks in 2023 and 2024, or that we will be able to generate revenue from Sustainable Community Networks in the future. We expect to rely on project finance capital to fund installation of our products in the Sustainable Community Networks market, and that funding may be unavailable or expensive. We expect to have one main source of financing for the Sustainable Community Networks in 2023 and 2024. If there is a breach of that financing arrangement, it could have an adverse effect on our liquidity and our revenue and results of operations may not meet our projections. Strictly Confidential / Not for Redistribution 43

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