Investor Presentaiton

Malta/SwRI Small-Scale PHES Pilot Plant U.S. DEPARTMENT OF ENERGY SwRI MALTA EPRI Parameters: 5 kW ■ Hot thermal storage: 350°C ■ Cold thermal storage: 10°C ◉ Testing carried out from Sep 2022 to Feb 2023 ■ Same architecture as full-scale system: charge heat pump powertrain; discharge heat engine powertrain; shared hot, cold, and recuperator heat exchangers; liquid hot thermal storage; and liquid cold thermal storage Pilot Goals: Demonstrate control & operability aspects of the integrated system ■ Identify deviations from expectations that can be incorporated as learnings into the full-scale system design MALTA PROPRIETARY AND CONFIDENTIAL 12

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