Energy Vault SPAC Presentation Deck

Circular Economies Create Economic Value While Eliminating Environmental Liabilities Causing Global Warming Coal Ash Remediation (CCR) Glass Fiber Reinforced Plastic (GFRP) 11 ENERGY VAULT Coal consumption produces ~1bn tons of coal ash waste per year. Total US clean-up costs estimated >$150bn¹ Novus Capital Corporation II Turbine blades weigh ~3 tons each and have a ~25 year useful life 52% remediated Source: American Coal Ash Association, IEA, Global Wind Energy Council ¹ North Carolina Public Staff Utilities Commission, S&P Global, Earthjustice; calculated based on $140,000 clean-up cost per acre. 48% landfill 100% landfill Fly ash is already being recycled in lieu of Portland cement among many other uses Coal Ash Unrecycled coal ash waste from the Marshall steam station in Salisbury, NC contaminates ground and wildlife Cumulative Turbine Blades: Wind blade landfill in Casper, WY that contains over 1,000 buried fiberglass blades Wind Turbine Blade Decommissioning (000s) 31.4 42.6 56.5 75.1 99.9 131.7 31.8 8.8 11.1 ENERGY VAULT, INC. ALL RIGHTS RESERVED 13.9 18.6 24.8 2020E 2021E 2022E 2023E 2024 2025E ICE CEMEX Proprietary 35 ton composite bricks designed in partnership with CEMEX Fly ash shred intermediates... ...converted into 35 ton mobile masses Instead of ending up in landfills, coal ash waste and retired wind turbine blades can be converted into Mobile Mass bricks, creating economic value and significantly reducing environmental liabilities for Energy Vault customers 29 Enabling a Renewable World

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