Nuvve SPAC Presentation Deck

EV Market Forecast Lithium-ion battery pack price (real 2018 $/kWh) 1,400 1,200 1,000 800 600 400 200 0 2010 Small Medium Large SUV 2015 U.S. 2024 Source: BloombergNEF Note: Prices are for EVs and stationary storage, and include both cell and pack costs Segment 2024 Year of expected price parity 2023 2024 estimate price $94/kWh 2023 2020 Nuvve Copyright © 2020. All Rights Reserved. Europe 2026 2023 2030 estimate $62/kWh, 2022 2025 2024 China 2028 2023 2031 2030 2034 Source: BloombergNEF (using data from the EPA, ICCT, FEV, ONRL and IDL). Note: Estimated pre-tax retail prices. ▲ Observed prices .18% learning rate 7 Sparks fly Battery electric vehicles, worldwide Battery cost, €/kWh 1,000 800 600 400 200 Penetration, % FORECAST New forecast 0 2009 15 20 Sources: Exane BNP Paribas; UBS 25 Old forecast 30 25 20 15 10 5 0 EV adoption will drive the need for vehicle-grid integration (VGI) and vehicle-to-grid (V2G) in 2021 NUVVE

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