Stem SPAC Presentation Deck

stem Growing Global Total Addressable Market Transaction capital will fuel growth into international markets with expanding TAM Overview of International TAM System cost declines and demand for renewable energy have led to increasing system durations and MWh capacities ✓ 254 GW of capacity expected to be deployed around the world over the next decade APAC expected to drive 70% of global demand growth through 2030 ✓ Policy tailwinds spurs growth in EMEARC markets Source: EEI, Wood Mackenzie. Worldwide Energy Storage Outlook (Ex-US) (MWh) 30,000 25,000 20,000 15,000 10,000 5,000 0 7,881 2020 ■ Australia ■ India ■ United Kingdom 10,611 2021 ■ Canada ■ Italy 13,040 2022 Rest of Americas 22% CAGR 16,979 2023 18,195 ■ China ■ Japan ■ Rest of APAC Confidential 43 Hi! 2024 21,233 2025 26,630 ■ France ■ South Korea ■ Rest of EMEARC 2026 ■ Germany ■ Spain

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