Investor Presentation

Accomplishments and Progress • Preliminary design for substation to end use (Flatirons) • Key highlights: monitoring electricity input to the stack (DC) and BoP (AC) Major parameters . P, Q, f Transducers: V DC, A DC Distance 115 kV utility connection AC: DC: m ३६ 115 kV to 13.2 Rectifier Container Electrolyzer Container 13.2 kV electrical bus 1.25 MW AC/DC rectifier ३६ 13.2 kV to 480 V 1.25 MW PEM electrolyzer stack BOP NREL 12

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