Stem SPAC Presentation Deck

stem Revenue Contribution Case Study Illustrative project revenue contribution Case Study ● ● Front of the Meter, New York Market Hardware + Software 5 MW / 20 MWh Standalone Storage Solution ~$10MM customer lifetime value Delivery Hardware + Network Year 1-20 Software Revenue(1) Confidential 26 10% 30% 60% Total Revenue Market Participation (2) Variable Recurring Upfront Source: Stem. Note: Values estimated based on historical experience and consultant forecasts. (1) Average of $0.84 / kWh per month (Year 1-20) starting at $0.39/kWh per month with annual escalator. (2) Average of $0.33/kWh per month (Year 1-20).

View entire presentation