Stem SPAC Presentation Deck

stem Athena Platform Delivers Value to Multiple Customer Segments Stem's Customer. Services Stem offers more value streams in more markets with more asset types Al-Driven Athena platform facilitates monetization of 11 out of 13 identified energy storage value streams Source: Rocky Mountain Institute. ER SERVICES ITC & PV Self- Consumption (ITC) Demand Charge Reduction (DCM) Time-of- Use Bill Management Distribution Deferral Backup Power Energy Arbitrage (EA) Spin / Non-Spin Reserve UTILITY SERVICES Transmission Transmission Congestion Deferral Relief ISO/RTO SERVICES Frequency Regulation Voltage Support Black Start Resource Adequacy Confidential Stem's Virtual Power Plant & FTM Services Services that Stem is currently offering 18

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