NEXT GENERATION FUEL CELL TECHNOLOGY

Highly Attractive Pipeline >60% of 2025E MEA sales projected to come from existing 2020 customers $13.0m $9.0m $4.0m Development of Revenue by Source Select Identified Opportunities $254.8m $21.9m Customer Advent Product Details $90.5m Multiple OEMs Fuel Cell EV trucks HT-PEM fuel cells Asian fuel cell manufacturer MEA $135.6m US OEM portable power 2021E Grants Existing Customers Grants $6.9m 2025E Existing Customers (MEA & License Fees) New Customers (MEA & License Fees) Engineering Fees (New Customers) MEA (Durability and Temperature Resilience) • . Asia EV charging stations . HT-PEM fuel cells US IoT - gas sensor Membranes for heat resistivity www.advent.energy . 5,000+ trucks on the road @ 200kW per truck 1GW potential opportunity in 2025 Existing customer MoU in place envisages >5m MEAs in 2023 2x forecast MEA production OEM currently supplies portable power fuel cell units to 4 military units globally, including in the U.S. and U.K. Existing customer Projected revenue opportunity $20m in 2025 from single product only Target 4,500 stations @ 240kW per station 1.1 GW opportunity Silicon Valley-based US developer OEMS two global cellphone manufacturers Cellphone market opportunity alone represents $25m in 2025 ADVENT 27

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