Investor Presentaiton

electriq power REGULATORY SUPPORT OF ENERGY STORAGE Strong and growing federal and state support for solar and storage industry, buoyed by recent Inflation Reduction Act legislation Federal Support (1) Energy Storage Targets by State (2) New York (4) Maine 400 MW by 2030 At the federal level, President Biden signed into law the Inflation Reduction Act on August 16, 2022, which includes $369 billion for Climate Change and Energy Security, including tax credits and grants to make homes energy efficient: 30% ITC restored for solar and storage projects Stand Alone Storage Introduction of ITC for stand-alone storage installs for first time, a jolt to the retrofit market 10 years Extension of full PTC / ITC (or the equivalent) values to at least 2032 Up to 20% Bonus ITC for development in certain low-income communities California (3) 1.3 GW by 2024 Nevada 1 GW by 2030 Industry Reactions "This law will put millions more Americans to work, ensure clean, renewable and reliable domestic energy is powering every American home, and save American consumers money." - Heather Zichal, CEO, American Clean Power Association "[The law] features long-term investments in clean energy and new incentives for energy storage, which give solar and storage businesses a stable policy environment and the certainty they need to deploy clean energy...." - Abigail Ross Hooper, CEO, Solar Energy Industries Association 6 GW by 2030 Massachusetts Virginia 3.1 GW by 2035 1 GWh by 2025 Connecticut 1 GW by 2030 New Jersey 2 GW by 2030 Select Utilities Offering Customers Storage Incentives: NVEnergy Hawaiian Electric EVERS URCE nationalgrid ЈЕЛ ENERGY GREEN MOUNTAIN POWER 1. Senate Democrat's Summary: The Inflation Reduction Act of 2022, SEIA Inflation Reduction Act Summary Report. 2. Energy Storage Targets by State, excluding those for California and New York, from Energy Storage Association's Clean Energy Legislative Academy presentation in July 2021. 3. California Public Utilities Commission Energy Storage Overview. 4. Governor Kathy Hochul's January 5th, 2022 State of the State address. Strictly Confidential / Not for Redistribution 14

View entire presentation