Energy Vault SPAC Presentation Deck

Valuation Benchmarking: EV / Revenue Energy Storage Technology Energy Transition Technology Disruptive Technology Infrastructure 2022E ENERGY VAULT 2023E 2024E 7.7 x ENERGY VAULT Enabing a Renewable world. 2.1 x ENERGY VAULT Enabung Renewable World 0.7 x ENERGY VAULT Enabung Renewable World 1 1 1 10.1 x Novus Capital Corporation II stem 5.6 x stem 4.3 x stem Median: 13.9x 2.9 x eos Median: 8.2x 1.5 x eos Median: 5.8x 1.0 x eos 28.5 x ESSINC 3.5 x ESSIN 1.3 x ESSING Valuation Multiples 16.6 x shoals technologies group 11.2 x shoals technalagine group 7.7 x 13.7 x technologia group e ENPHASE. 10.7 x ENPHASE. 8.9 x shoals e ENPHASE. 2.5 x ARRAY TECHNOLOGIES 2.2 X ARRAY TECHNOLOGIES Source: Energy Vault projected figures per Energy Vault, Bloomberg, Capital IQ, and company disclosures; market data as of September 2, 2021 Note: Median excludes Energy Vault multiple. ¹ Based on Energy Vault enterprise value of $1.1bn. 1.8 x ARRAY TECHNOLOGIES ENERGY VAULT, INC. ALL RIGHTS RESERVED 6.2 x solaredge 5.0 x solaredge 4.4 x solaredge 14.1 x Heliogen -chargepoint. 1.7 x Heliogen 20.6 x 0.6 x Heliogen 11.9 x -chargepoin+ 8.0 x -chargepoin+ 45.2 x EVgo 14.7 x EVgo 7.3 x EVgo 17.3 x fuelcellenergy 12.1 x fuelcellenergy 7.2 x fuelcellenergy 12.9 x T 11.1 x T 9.7 x T 46 Enabling a Renewable World

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