Stem SPAC Presentation Deck

stem Investment Highlights Stem is the first pure play smart energy storage company to go public in the US Large Addressable Market + Strong Macro Tailwinds ~$1.2 trillion in new revenue opportunities for integrated storage expected to be deployed by 2050(¹) Battery storage capacity expected to increase by 25x by 2030 (²) Market Leader with Best in Class Technology 900+ systems operating or contracted with Stem's Athena software (3) 75% market share in CA BTM storage market, largest in the US(2) First mover Al platform that operates with 40+ utilities, 5 grid operators and over 16MM runtime hours (1) Bloomberg New Energy Finance. (2) Wood Mackenzie. (3) As of 31-Oct-2020. Balance Sheet Positioned to Capitalize on Growth Ready to deploy net cash balance of ~$525m to target and fund high growth markets Transaction fully finances all forecasted growth Highly Visible Growth Confidential Recurring revenue streams provide strong financial position to accelerate growth Revenues projected to grow at ~51% CAGR from 2021 to 2026 8

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