Nuvve Results Presentation Deck

V2G & BATTERY HEALTH V2G has minimal impact on the battery Main factors that impact capacity are driving and age (calendar life) Studies show small percentage impact from V2G 1-2% impact over 5 years ● ● 2% impact over 8 years SA Deployment of Vehicle-to-Grid Technology and Related Imars Saru Shimaki, Makar Sanand Vak Merama F MAR mssys 120 180 240 "Deployment of Vehicle-to-Grid Technology and Related Issues" 2016 SAE Research Paper: Satoru Shinzaki, Hakaru Sadano, and Yutaka Maruyama, Honda R&D Co., Ltd https://www.sae.org/publications/technical-papers/content/2015-01-0306/ Ⓒ2022 Nuvve Holding Corp. All rights reserved. Confidential and proprietary. 42 DTU Capacity Remaining [%] 99 98 93 Technical Results: total degradation 6 12 18 DTU 60% SOC 24 36 30 Time [months] 42 Parked Only Driving Only Frequency Only Drive +Frequency 54 ity Remaining [%] 60 100 99 97 96 93- 91 89 88 0 6 12 80% SOC 18 24 30 Time [months] 36 42 Combined operation has the highest capacity degradation 48 TE Parked Only Driving Only Frequency Only Drive +Frequency 54 60 "Techno-economic characterization of EV battery considering degradation" 2019 Lisa Calearo, PhD Student, Center for Electric Power and Energy DTU Risø Campus NUVVE

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