Energy Vault SPAC Presentation Deck

Fully Distributed Enterprise Value Sensitivities ($ in millions) $1,134 ENERGY VAULT Transaction Value $6,420 Novus Capital Corporation II 4x - 12x Midpoint Trade-up: 278 % $ 2,140 EV/2023E Revenue Implied Enterprise Value $12,153 2x - 8x Midpoint Trade-up: 570% $3,038 Source: Energy Vault projected figures per Energy Vault, Bloomberg, Capital IQ, and company disclosures; market data as of September 2, 2021 EV/2024E Revenue ENERGY VAULT, INC. ALL RIGHTS RESERVED 26x-34x Midpoint Trade-up: (171%) $3,481 $ 2,662 EV/2023E EBITDA $ 10,252 12x - 28x Midpoint Trade-up: (546 % $4,394 EV/2024E EBITDA 48 Enabling a Renewable World

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