Leclanché Stationary Storage Solutions Credentials

Corporate Presentation Executive Summary

eTransport Solutions

Stationary Storage Solutions

On a Clear Path To Deliver Profitable Growth

Leclanché Technologies and Financial Information under NDA only

AGENDA Leclanché, the 111-year-old Startup, is at the heart of the Energy Transition

Electrification of transport systems Energy transition to reduce the overall Greenhouse Gas Emissions is being • We deliver integrated Battery Packs for Electric driven primarily by the changes in the Vehicles of all sizes, with intelligent interface to the management of electricity networks and charging infrastructure. the electrification of transport systems. Renewable energies integration Leclanché’s strategy and business model is at the heart of the convergence of • We deliver Energy Storage Systems that reliably add these drivers. intermittent solar and wind energies in the electricity network as dispatchable power on an as needed basis.

Rich heritage: A European leader in Energy Storage Solutions Leclanche At-a-Glance

An undeniable market opportunity… … enabling electrification … …captured by the best player in the space

Fully integrated Locomotives 200+ Patents battery system 9 years of producer Global shift to vehicle knowhow in large- Cells • Packs • electrification and scale production Maritime Software renewable energy

US$500 million+ in Buses One-Million KMs+ 2030 contracted of run-time>>>> revenue(1) ~115 GWh (1) ~150 GWh Commercial Trucks Medium and Stationary Heavy Transport Storage 80% CAGR from 2019 to 2022 (2) Actionable Proven expansion with complementary to major European hydrogen fuel cell ~1.25 TWh (2) Stationary Energy auto OEM applications Automotive Storage Systems

1 Contracted Revenue = Backlog and framework supply agreements including general T&C / MOU / Long Term Supply Agreement. 2 Scheduled to complete framework agreement in H2 2021. 2 Based on IDTechEX Research Dec. 2020 (COVID Adjusted) 2 LUX report (2019)

270 2022 Introduction of Ultra-High Energy Cells Sales Office HQ Marine Sales UK R&D, Module Assembly Norway Implementation of automated module Switzerland 225 2021 production facility Yverdon, Switzerland

2020 Accreditation of IRIS rail certification

MOU signed with Bombardier 2019 Transportation

Nexcharge JV with largest battery 2018 company in India – EXIDE 10 PhD’s 50 Engineers Multi vessel contract awarded by High Energy Density 180 2018 Kongsberg Maritime worth > 50 MWh Cells introduction DNV-GL/ RINA Marine Certifications

Implementation of large scale 70 2012 automated cell production facility Willstätt, Germany

Acquisition of lithium-ion technology 2006 & start of industrialisation Operations Cell R&D Nexcharge EMS* Development Centre Cell Manufacturing India IN - USA 1909 Company founded Germany

Cell Energy Density (Wh/kg)

© Leclanché SA 2021 - Slide 5 *Energy Management Software Vertical Integration Enables Greater Customization, Market penetration & Margin Advantage Unique R&D and design capabilities across the complete battery system

Leclanché Vertical Integration Enables Control of the Full Process

Formulation with Lithium-ion Cells Modules Electronics Battery Packs EMS* Raw Materials

In-House R&D, Manufacturing and Assembly Facilities

Research & Development Cell Production Line Module Assembly Line Germany, Switzerland & USA Willstätt, Germany Yverdon, Switzerland

Key Benefits of Vertical Integration

Solutions that exactly match customer Clear technology roadmap Control of the full process Tighter cost control & higher margins specifications

Corporate Certifications Industry Certifications

• ISO 9001:2015 • Marine type approvals Quality management System

• ISO 14001:2015 Environmental management System

• ISO 45001:2018 Occupational health and safety management system • Railways applications

Creating a technology leader: … A European leader in Energy Storage Solutions Expansion into Passenger EVs, Reaching Competitive-Scale

Entry led by proven technology leadership

► Almost doubles future addressable market with massive potential.

► Adds substantial scale to procurement activities reducing overall product costs for our other eTransport verticals. Automotive Markets Expansion ► Allows monetization of R&D expenses through licensing agreements OR Passenger Cars contributing as equity in joint ventures with partners. Ultra-high Energy ► Offering a fully integrated product encompassing “Powder-to-Pack” Densities Superior Battery proprietary technologies: electrochemistry, cells, battery modules, battery 300 Wh/kg Cycle Life management systems, and battery pack design Up to 1,000 cycles Functionally Safe Battery ► One of the largest pools of ~350 trained personnel in Europe with extensive Management System experience in electrochemistry and mass production, and protected IP with more than 200 patents over 13 families

► European based and well-established supply chain relationships

► Time-to-market advantage based on proven manufacturing processes

eTransport Solutions

Stationary Storage Solutions

On a Clear Path To Deliver Profitable Growth

Leclanché Technologies and Financial Information under NDA only

AGENDA Strategic Customers and USD 500 million Contracted Revenue Underpin Growth Existing & Long-term Strategic Partnerships with Leading OEM Customers

Marine Customers Hybrid Hydrogen Fuel Cell Projects Ground Transport Customers

Marine: Hyseas III, Scotland ▪ World’s 1st hydrogen hybrid marine vessel.

Rail: Canadian Pacific Railways, Canada ▪ Locomotive retrofit.

Truck: Toyota, USA ▪ Fleet electrification pilot project.

▪ Contracts signed for supply of Leclanché MRS ▪ MOU signed with Bombardier Transportation marine battery systems for 13 large vessels (now part of Alstom) as preferred supplier of and semi-submersible drilling rigs. Lithium-ion battery systems with potential ▪ Total energy capacity to supplied of 57 MWh revenue of EUR 100 M over 5 years. with either 55 Ah or 60 Ah cells. ▪ Supply of 53 kWh INT-53 Energy battery packs ▪ Delivery/ commissioned 9 complete systems, for train traction applications. and vessels. ▪ New Leclanché Functionally Safe BMS ▪ 6.7 MWh system supplied to 3,200 ton Yara developed to meet stringent rail certifications. Birkeland, the worlds 1st autonomous ▪ Battery packs to be fitted with new generation container vessel. Leclanché M3 Module produced on new automated production line in Switzerland.

Click to see Leclanché eMarine movie Video

Click to see Leclanché railway movie Proven, Proprietary & Vertically Integrated Battery Systems Our technology is differentiated down to the cell level Water-based Process for Battery cell Production EU future sustainability requirements Energy savings compared to traditional solvent based Prepared for a circular and climate neutral economy

► Lower electrode drying temperature (50-60°C lower) ► Responsible sourcing of materials

► No solvent recovery system (lower Capex and Opex) ► Minimum content of recycled materials

► Reduction in humidity control space (70-80% reduction) ► Carbon footprint

► Cell cost reduction of up to 10% compared to solvent ► Performance and durability and labelling based (1) ► Collection and recycling

43 Ah 85 Ah 100 Ah Graphite anodes 65 Ah Silicon anodes Steady evolution of 158 Wh/kg 270 Wh/kg 300 Wh/kg NMC-532/622 225 Wh/kg NMC-811 cathodes Leclanché cell energy: cathodes High voltage electrolytes 2018 2021 2022 2024

Materials with lower carbon footprint and Leclanché cells will keep increasing cell energy Less cobalt in the cathode materials and high- energy-saving processing steps will make the while maintaining an extraordinary cycle life energy materials will further reduce the costs per kWh batteries more sustainable

Leclanché Battery Technology – Main Attributes

Energy Density (Wh/kg) Charging Time Cycle Life Safety $$$ Total Cost of Ownership

Typical Application Energy Density Cycle Life Charging Time

High Power LTO 75 Wh/kg 20,000 10 mins Introduced 2012 (to 80% DoD)

High Energy G/NMC 225 Wh/kg 8,000 20 mins (to 80% DoD) Introduced 2020

Ultra High Energy 270 Wh/kg 2,000 20 mins G/NMC (to 80% DoD) Planned for 2022 CAR

Leclanché is already actively working on multiple hybrid fuel cell projects

Marine Rail Truck

Hyseas III, Scotland Canadian Pacific Railways, Canada PACCAR group / Toyota, USA ▪ 0.7 MWh pack for world’s 1st hydrogen ▪ Leclanché nominated to supply prototype ▪ Hybrid electric truck : delivered hybrid marine vessel. 1.2 MWh battery system on hybrid fuel prototype packs. ▪ Delivery of Marine Rack System battery cell locomotive, with delivery in 2021. ▪ Prototype development program with packs 2020. ▪ CPR has 1,100 locomotive fleet with hydrogen fuel cells and Leclanché LTO > 50 % potentially to be converted. battery pack.

Leclanché Battery Pack Comparison to Key Competitors Our advantaged technology Marine Commercial Vehicle Leclanché Competitor Leclanché Competitor MRS9 A INTEG-39 Energy HV B Design

Energy 155 kWh 124 kWh 39.4 kWh 25 kWh Energy Density 114 Wh/kg + 50% 76 Wh/kg 106 Wh/kg + 3% 103 Wh/kg

Cycle life 4,500 + 13% 4,000 4,500 Nearly 3 x 1,600 (100% DoD*) Dimensions (HxWxD) 2440 x 1236 x 440 mm 2241 x 865 x 738 mm 409 x 612 x 1266 mm 150 x 700x x 1700 mm

Weight 1,356 kg 1,628 kg 372 kg 238 kg

eTransport Solutions

Stationary Storage Solutions

On a Clear Path To Deliver Profitable Growth

Leclanché Technologies and Financial Information under NDA only

AGENDA Leclanché Stationary Storage Solutions Credentials

• 150 MWh installed, targeting 1GWh by 2025 • ESaaS implementation expertise & experience • EMS-enabled revenue stacking and extended battery life management • Multi-platform design, integration, end-to- end solution with LeBlockTM modular system • Positioned in high-growth markets such as Integrated Technology Partners fleet management, fast-charging, load displacement and off-grid expertise

MARKET PRODUCT COMPETITION

• Target Energy storage market: $30+ • Industry leading EMS Platform billion market by 2023 • 150 MWh installed with the goal of 1 • Addressing “segments” requiring • New innovative, modular, pre- GWh by 2025 sophisticated Energy Management configured building block concept – LeBlock™ (pat.pend) • Competitive overall price driven by in- Software (EMS): house EMS and systems knowhow 1. Fast EV Charging: $12b, growing to • Plug ‘n play for fast installation 30bn by 2030. • First ever BOO platform with EMS to 2. Micro-grid: $8b, growing to $39b by • Efficient / easy handling and logistics offer ESaaS. 2030. to site. 3. Solar + Storage: $5b growing to 8b by 2030. • Focus on Fast EV Charging solutions in OECD markets • Focus on off-grid in Caribbean and Latin America.

AGILE RELIABLE EXPERT

Fast EV Charging Infrastructure Port Automotive

Combined Onboard and Onshore Rapid and Ultra-rapid Energy Storage solution for the first Charging for Electric Cars, fully electric passenger/car ferry in LCVs, Bus and Trucks. North America

Amherst Island, ON, Canada

Leclanché Energy Management System (LEMS) SOFTWARE - IoT Connected - Industrial Grade - Fleet Controls - Multiple Apps

Control

Wide Market Applicability

Advanced Battery Solution (LeBlockTM) HARDWARE - Cost Competitive - Fully Integrated - Scalable - FAST Deployment

Experience to quickly conduct network and grid studies for a variety of applications

Rich set controls and monitoring functionalities in Energy Management Software (EMS)

Know-how and simulation tools to adequately size and dimension the BESS* and perform front- end engineering of a Green Power Plant

Capability to structure competitive customer PPA’s based on ESaaS

*BESS – Battery-based Energy Storage System; PPA – Power Purchase Agreement; ESaaS – Energy Storage-as-a-Service

St Kitts prime minister Timothy Harris and Leclanché Bryan Urban at the groundbreaking December 15, 2020

➢ Solar PV 30 MW peak / 45 MWh

➢ 30% of the Island’s baseload

➢ $70 M capitalization / 20-year PPA

► Plug & Play: easy to interconnect

► Simplified logistic

► Fast installation on site

► Integrated Battery Auxiliaries

► Reduced Carbon Footprint

► Optimized LCOE

eTransport Solutions

Stationary Storage Solutions

On a Clear Path To Deliver Profitable Growth

Leclanché Technologies and Financial Information under NDA only

AGENDA Solid base to deliver sustainable profitability … more than US$ 250M investment to reach a critical-size for cost competitiveness

• One of the highest breadths of inhouse technology ownership in Technology Leadership: the Industry: from Cells, Modules, Battery Packs & Racks to IoT- simultaneous investment in enabled Fleet EV Asset Optimization Software Platform Product Portfolio Expansion and • Industry leading Energy Management Software suite for a range Organizational Resources of applications in renewable energy integration, grid ancillary services extending to in-vehicle energy management unit

• Lowest cost per kWh Cells for Fleet EV combining high Energy Density and long-life Cycles Competitive Cost-base: leap-frog competitor’s cost-base to secure • More than tripling the production capacity to gain efficiencies good gross margins • Monetizing and gaining procurement-scale through licensing inhouse technologies to the Automotive sector

On track to deliver profitable growth World-class Leadership Team

Anil SRIVASTAVA Hubert ANGLEYS Phil BROAD Pierre BLANC CEO Chief Financial Officer EVP – Customer Management Chief Technology & Industrial Officer

Joined in 2014 Joined in 2016 Joined in 2018 Joined in 2000 ▪ Fourteen years of senior executive ▪ Previously held senior roles such as ▪ 24 years in tier 1 Automotive & ▪ Previous roles at Leclanché: Head of experience, including board level CEO of Metalor Group, Financial Commercial Vehicle industry R&D, Chemical Engineer working for engagements. Director at Alcoa & financial ▪ Previous roles include Global client brands such as Varta and ▪ Previously CEO of AREVA positions at Sicpa. Account Manager at Honeywell Panasonic. Renewables, EVP Alcatel-Lucent ▪ Member of management groups Global Accounts. ▪ Degree in Accounting, Business ▪ BEng (Hons) System Engineering, UK supporting Swiss and Germany Administration and Law, France. national research programs. ▪ MBA Wharton School of Business, ▪ BA Mod. Chem Trinity College, USA Dublin

Management: Previous Experiences

Thom Reddington Sylvain CHONAVEL Gerardo GIMENO Guillaume Clément SVP Global Operations, VP Systems Engineering VP e-Transport VP Global e-Marine Stationary Storage

Joined 2016 Joined 2018 Joined 2019 Joined 2021 ▪ 38 years experience in ▪ Project Director – Frazer ▪ Sales Mgr – Commercial ▪ 15 years international the Automotive Market Nash & Off Highway Vehicles experience in Energy specializing in new ▪ Engineering Director – ▪ Managing Director – Management (FR, AUS, product/project Whitfield Solar Ltd Moldes Epila SA CN, NO) development and ▪ McGill University Specialsi Machinery. ▪ Various company-wide commercialization. ▪ MBA Herriot Watt ▪ MBA – ESIC Business & positions from project to ▪ Executive Management ▪ Ecole Nationale marketing School sales through experience in 3 Lithium- Supérieure des Mines manufacturing and Ion battery start-ups. services ▪ Engineer Supélec, France, MBA IAE Rennes, France

Management: Previous Experiences

Dr Olaf Luche Dr Petronela Gotcu Guido Guidi Dr Hilmi Buqa General Plant Manager Manager – R&D Cells SVP Global Sales - VP – R&D Cells – Willstätt Stationary Storage

Joined 2009 Joined 2020 Joined 2018 Joined 2018 ▪ Senior Scientist – High ▪ 25 years in global ▪ 10 years of experience in ▪ 10 years in tier-1 solar Power Lithium SA industrial companies for battery research PV industry and energy ▪ Postdoctoral Scientist – tier 1 automotive e ▪ Author of more than efficiency market. Paul Scherrer Institut suppliers, in Germany, twenty peer-review ▪ Director Sales & ▪ 36 reviewed scientific France and China. international Marketing at Helexia papers ▪ Plant Manager – Stabilus publications, and Development and Sr. ▪ 10 patents issued ▪ PhD Organic Chemistry – reviewer Manager European ▪ PhD Lithium-ion RWTH Aachen ▪ PhD in Material science Corporate Accounts at technology (1996) – Delft Univertsity SunPower Corporation. ▪ MSEE, Italy and MBA, Switzerland

Management: Previous Experiences

www.leclanche.com Disclaimer

SUPPLEMENTARY INFORMATION Enhancing renewable energy penetration in microgrids

Black Start Self Consumption Islanding Grid Battery charging optimization Smart Energy Management forming Carbon emission reduction guaranties base load Solar dispatchable power from PV battery to grid

GenSet AI-enabled algorithms optimizing the green energy Leclanché Wind dispatch based on Time-of- the Day demand cycles to Power arbitrage Energy Status Analysis Management maximize Revenue Energy production at night Software Optimized REN penetration Maximize the REN penetration vs. genset use

Battery St Kitts Multi-applications- Revenue Storage electricity Stacking BESS-PV- company Offtake management Wind- Bill Management Ensure base load power GenSet Battery life cycle mgnt REN penetration mgnt Battery charge & discharge

Stabilized Grid Transmission Congestion Relief Smart Energy Management Frequency Regulation Grid Voltage Support Reduce Carbon Emission drives the Energy Black Start Increase Self Consumption Transmission Solar Power Purchasing

AI enabled algorithms EV anticipating demand cycles, Chargers energy production and Energy procurement prices Leclanché Trader Providing Full Power Energy Status Analysis Management Creating VPPs and Energy Arbitrage Networks of e-Fourcorts Software Optimized Procurement Wirth many networked charges the EMS becomes Battery more intelligent, creating Storage Customer more revenue and Forecourt Guidance System customer value Fleet Bill Management Optimizing Storage Virtual Power Plants Fleet Management