Investor Presentaiton

3Q23 Financial Metrics 39.7 Revenue +334% 172.2 Adjusted EBITDA ($) 2Q23 3Q23 2Q23 3Q23 Gross Profit +83% 3.9 7.1 (18.1) 2Q23 3Q23 ENERGY VAULTⓇ (10.3) $172.2M Revenue Revenue Q3 record revenue of $172.2 million driven by further deployments of the Company's suite of energy storage systems across solutions and geographies Adjusted EBITDA • Q3 Adjusted EBITDA improved 43% sequentially, narrowing to ($10.2) million reflecting scaling of revenue and management's continued focus on optimizing © 2023 ENERGY VAULT HOLDINGS INC. ALL RIGHTS RESERVED operating expenses toward positive Adjusted EBITDA. Enabling a Renewable World 4

View entire presentation