Energy Vault SPAC Presentation Deck

EV₁ Performance Results Above Expectations Expected: 75.0% Round-trip Efficiency (RTE): Measured: 75.3% Extensive test campaign, with results presented to major US and Italian Utilities during their Due Diligence processes EV₁ expected RTE achieved; EV, RTE expected to increase to 80-85% Video PSW: Arbedo Thirty-five Tons Lifting ENERGY MULT Grid Round-Trip Efficiency Above Initial Target ENERGY VAULT Transformer In December 2020, full Round Trip Efficiency tests, at multiple lifting and lowering velocities, were conducted. The point of measure at the MV Switch 0.5 Class 2 MW The testing protocol was based on: - Weight: 35 metric tons mobile mass (standard brick as per EV1 design) - Jump: 42-meter lifting/lowering Duration: 60 seconds (circa) per test Maz potential in the Tament, be on this class of owice less than 1.45 Novus Capital Corporation II Measured RTE RTE= RTE = MM potential energy (at max elevation) Energy absorbed from the grid Ⓡ (measured in "1") = 3.906 kWh 4.124 kWh measured directly at the MV Switch Ⓒ = 3.106 kWh - measured directly at the MV Switch 3.906 kWh 4.124 kWh 20 x 20 Power 3.106 kWh Grd 3.906 kWhi Hawering) 50 Transformer Power and Energy measured at the MV transformer 00 Energy injected back to the grid (measured in "1") ME 70 MM potential energy. (at max elevation) 94.7% x 79.5% g towering! 20 Wo Mihe 75.3% RTE- the interact MV Electric Energy Gearbox 4.124 kWh Hunting 75.3% The measured RTE (75.3%) is in line with Tine H the expected performance of the EV, system. The EV, product is based on a more efficient motor generator and a simplified design (less loses) and this extrapolates the EV, RTE above the 80% target (next slide) Matite 4.124 kWh 3.106 kWh Differentiated Brick-Making System Delivering Expected Quality Mechanical strength: 8 MPa (better than expected) Pressing time: 10 minutes (as expected) Accuracy: +/- 0.2% (better than expected) Strategic Partners://cem ● ENERGY VAULT, INC. ALL RIGHTS RESERVED 1463 CEMEX SIMEM 25 Enabling a Renewable World

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