Investor Presentaiton

WHY THE NEED FOR OCEAN SUN'S PROPRIETARY TECHNOLOGY Ocean Sun Renewable energy Solar Energy Deployment Space Floating Solar ☐ As the world is electrifying there is an increasing demand for, and dependency on electricity, whose share of the total energy mix is forecasted to more than double to 60% by 20501 Simultaneously, the Paris agreement and other climate commitments stress the urgency for a transformation to renewable energy sources Solar power is one of the most promising sources of renewable energy, with competitive cost compared to fossil fuel-based energy in a growing number of countries Electricity generation from solar power is expected to grow almost 30-fold from 2019 to 2050, making it- the single largest provider of electricity (~1/3)1 Traditional solar systems require extensive areas of land which have become a scarce commodity (especially in proximity to energy demand centres) ■ The alternative cost is high as valuable land resources could be used for other applications such as agriculture or simply protected for environmental or biological concerns (e.g. rainforests) Water covers 71% of our planet's surface and a majority of the densely populated land areas are close to water bodies FPV installations have several benefits such as no land requirement, cooling effect from water and existing transmission infrastructure (when co-sitting with hydropower sites) Current technical solutions are expensive, as they use significant extra material (plastic) Fitting Solution Current technologies are not robust enough, nor suitable for large scale deployments Ocean Sun Ocean Sun FPV Solution Ocean Sun's FPV solution is highly cost-effective compared to other FPV systems in the market, with the potential of realizing an LCOE lower than that of ground-mount solutions The unique design is more robust and enables large scale deployments in new and existing markets High energy efficiency due to direct water cooling Source: 1) DNVGL Energy Transition Outlook 2020. The Company Note: LCOE (Levelized Cost of Energy) is a measure used to compare energy cost from different sources and technologies. 19

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