Energy Vault SPAC Presentation Deck

2024 Business Contribution ($ in millions) Revenues Gross Income Margin Adj. EBITDA¹ Margin ENERGY VAULT Customer Owned Novus Capital Corporation II Number of Projects Average Project Size (MWh) Average selling price ($/kWh) $1,460 18 284 $260 $414 28% $322 22% Initial Capex³ Additional Capex (Degradation) O&M4 Total Cost of Ownership Cumulative Proj. up to 2024: Average Project Size (MWh): Capital Invested ($ million): Return on Capital Employed¹ (unlevered) Total Cost of Ownership Comparison² ($/kWh) with Li-ion Batteries EV Owned ENERGY VAULT $260 O 40 $300 ENERGY VAULT, INC. ALL RIGHTS RESERVED Lithium-ion $300 68 67 $435 $59 6 177 $354 ¹ ROCE calculated over the life of the project while Adj. EBITDA reflects 2024E projections only. | 2 Based on top US utility economic comparison. Assumes 35 year useful asset life. | 34 hours duration. | 4 NPV at 5%. 16% $44 76% Total $1,519 $366 24% 38 Enabling a Renewable World

View entire presentation