Energy Vault SPAC Presentation Deck

Transaction Summary Key Highlights Energy storage momentum is one of the largest and most compelling new market opportunities Significant TAM with ~$640bn global investment in energy storage through 2040¹ Proven technology/local supply chain One of the most efficient, commercially viable and safe energy storage solutions; local manufacturing and job creation Developed pipeline of customers with >361 engagements representing ~$32bn in potential Energy Vault projects over the next 5-10 years 30-40% lower LCOE (Levelized Cost of Energy) expected than the current alternative storage technologies Environmentally sustainable solution capable of utilizing waste material (i.e. coal ash, retired wind blades, mining tailings, etc.) for beneficial re-use as the base storage medium ENERGY VAULT ■ Energy Vault stockholders rolling 100% of their equity ▪ ~$458mm cash on balance sheet after proceeds and net of transaction fees to fund growth (assuming no redemptions by public shareholders of Novus II) Energy Vault balance sheet cash of $116mm³ ■ PIPE size of ~$100mm Pro Forma Capital Structure ■ ▪ Novus II (NYSE:NXU) has ~$288mm of cash in trust account Transaction expected to fully fund business model through cash flow positive in 2024 Valuation I Enterprise Value of ~$1.1bn Attractive valuation versus other energy storage, energy transition and electrification technology peers ▪ Backed by reputable and long-term investors Source: Bloomberg NEF, Bloomberg and company disclosures Note: LCOE defined as the long-term discharge offtake price needed to recoup all project expenses (capex, opex, interest, taxes, and charging costs) over the lifetime of the system. | ¹ Bloomberg NEF and HSBC Climate Radar. | 2 Represents total financial value of projects estimated to be delivered over the next five years. | 3 Represents $17.6mm of existing cash on balance sheet as of 30-Jun-2021 and $98.3mm of proceeds from Series C capital raise, which does not include up to an additional $8.7mm reserved for potential issuance to strategic investors. Novus Capital Corporation II ENERGY VAULT, INC. ALL RIGHTS RESERVED ENERGY VAULT Enabling a Renewable World Leadership ENERGY VAULT Enabling a Renewable World Robert Piconi Co-Founder, CEO Andrea Pedretti Co-Founder, CTO Andrea Wuttke CFO Novus Capital Corporation II Bob Laikin CEO / Director Larry Paulson Non-Executive Chairman 7 Enabling a Renewable World

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