Investor Presentaiton

EVgo - An Attractive Valuation Paradigm for Investors Median EV / 2021E EBITDA multiples Peer median: 24.0x(1) 2026E EBITDA $331mm EV charging) 21.3x Illustrative TESLA Comparable Reference 21.5x – 26.5x(3) Range Clean infrastructure 22.5x Median EV / 2021E EBITDA / growth EV charging (2023-2026E CAGR)(4) 0.2x TESLA 76.3x (2021-2024E CAGR) Clean infrastructure (2021-2024E CAGR) Peer median: 1.4x(1) Illustrative Future Enterprise $7.1bn - $8.8bn Clean tech 56.9x Clean tech (2021-2023E CAGR) 1.4x Value High-growth infrastructure 23.5x High-growth infrastructure (2021-2024E CAGR) Current Value $2.4bn EVgo 7.3x (2026E) EVgo (2026-2030E CAGR) (4) 0.2x 2.2x 2.8x 3.5x Source: Company materials, filings, and FactSet as of 3/24/21. Peer median of 24.0x for EV/EBITDA multiples and 1.4x for EV/EBITDA/growth reflects median of 15 peer constituency (excludes TPGY from analysis due to unavailability of long-dated forward (1) projections). (2) (3) (4) EV charging CAGR of 120.1%. EVgo CAGR of 36.5%. Represents median EBITDA multiples for longest-dated forward projections (2025E for BLNK, 2026E for CHPT, 2024E for FAST-NL and 2025E for SNPR). Reference range based on approximate +2.5x multiple of peer median. EVgo 32

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