Investor Presentaiton

HIGHER EFFICENCY DUE TO DIRECT WATER COOLING PV Module temperature & efficiency Two well established assumptions explain Ocean Sun's increased efficiency: . PV module efficiency decreases with higher temperature (~0.4%/°C) . Water is a better heat conductor than air Using Ocean Sun's patented solution1, the operating cell temperature is lowered through direct heat transfer from the water below, which in turn improves the efficiency of the solar modules. As the infrared picture shows, modules installed using Ocean Sun's solution is kept at much lower temperatures 5-10% higher PV cell efficiency and power generation than other FPV solutions Source: Department of renewable energy systems, Institute for Energy Technology, The Company Note: IR picture from test site in Singapore. 1) Patents granted and patents application pending in various jurisdiction's FLIR Modules lifted from membrane → air cooled Module temp: 63 °C Peers Ocean Sun Modules in direct contact with membrane Water cooled Module temp: 35 °C 111 Ocean Sun Water temp: 33 °C 44

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