Investor Presentaiton

electriq power TY OF SANTA BARBAR SUSTAINABLE COMMUNITY NETWORKS CASE STUDY: CALIFORNIA SANTA BARBARA COUNTY Electriq signed an agreement with Santa Barbara County in Fall 2022 to partner with the municipality to provide sustainable and resilient solar microgrids to the historically underserved community Designed for Success Across the Program Municipality Wins Offers their constituents discount to current utility rates Gains revenue stream without any out-of-pocket expense Promotes renewable energy, contributing to California's goals Homeowner Wins Solar and battery storage at no upfront costs Customer savings of 10%+ from comparable utility rates (1) Gains backup system in the event of a grid outage 20-year+ PPA helps to establish a predictable energy price Project Finance Partner Wins Designed to provide recurring, stable cashflows over 20+ years Tax credit advantages: Federal ITC, accelerated depreciation Desirable risk-adjusted returns Electriq Wins Acts as developer for municipal projects Deploys energy storage systems in geographic concentrations Retains rights to use batteries for demand response (VPP) Recurring revenue for fleet management services and software For every $1 of battery revenue Electriq receives in Sustainable Community Networks (SCNS), it receives another ~$2 of other upfront revenue (solar, installation & development fees) and an additional ~$1 of high margin software, services and Virtual Power Plant (VPP) revenue over time Solution Upfront PowerPod 2, Solar, Installation & Development Longer Term Target Fleet Management Software and Virtual Power Plant Gross Margin ~22% ~ 50% - 90% Source: Company materials. 1. Compared to Southern California Edison time-of-use residential rate plans. Strictly Confidential / Not for Redistribution 17

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