A NEW FUELING NETWORK Fuels Institute Annual Meeting May 24, 2017

But the context of transportation is changing dramatically. Transportation seems unchanged... we still have to get from Point A to Point B. But the context of transportation is changing dramatically. Transportation inefficiency costs us our money, health and time. 1% of transportation energy is used to move a person* Our mindset has changed. Time is the new luxury commodity. Car selection is based on innovation, environment, convenience, TCO. Drivers are always connected and everything around them is being connected. * Dr Stefan Heck, NAUTO These points set the context to describe difference between existing gas fueling networks and the electric fueling network.

But the context of transportation is changing dramatically. Transportation seems unchanged... we still have to get from Point A to Point B. But the context of transportation is changing dramatically. Vehicle miles driven peaked in 2006. EVs are 4X more energy efficient than gas cars. 100% of top auto brands have committed to EVs. 72% smartphone penetration in the U.S.1 6.4 billion devices connected today, 20 billion by 2020.2 New technology, socioeconomic, climate and product changes are changing the context of transportation. For example… When the last fueling network was created, smartphones did not exist. Driver motivations: 20% Environment 20% Convenience 20% Cost 20% Tech/innovation 1 Pew Research http://www.pewglobal.org/2016/02/22/smartphone-ownership-rates-skyrocket-in-many-emerging-economies-but-digital-divide-remains/ 2 Gartner Research http://www.gartner.com/newsroom/id/3165317

“Honey, can we have breakfast at the Grand Canyon again tomorrow?”

Transportation Becomes a Fast Growth Industry No driver 10+x utilization increase Operational efficiencies of shared ownership EV drive train Cost per mile decreases by order of magnitude Cost of Transportation Opportunity cost of travel almost eliminated Hours of wasted time a day reduces to practically zero unproductive time 10X increase over 15-20 years VMT per annum growth increases to 10-15% after 2020 Vehicle Miles Traveled 5

“Should we book a party vehicle to Vegas, or do you just want to get work done?”

Vehicle Diversity Skyrockets Hardware costs amortized over order of magnitude higher VMT Impact on vehicle quality likely significant: million mile vehicles commonplace Impact on vehicle costs likely significant: million dollar vehicles can be profitable at high utilization # of vehicles likely to drop, potentially significantly in OECD, depending on how high utilization goes and how aggressively VMT increases Hardware Cost per Mile Falls Today, industry segmented into passenger vehicles, buses, trucks In future, much more extreme segmentation with new vehicle types constantly being invented; we lack the creativity today to imagine many of the vehicle types of the future Lack of driver, shared ownership, and high utilization makes highly customized and expensive vehicle solutions viable Exotic vehicles become accessible to the mass market More Diverse Vehicles Economically Viable 7

ACES Trends Become Powerfully Reinforcing Between 2020 and 2030, adoption of the ACES trends will proceed much faster than even most aggressive analyst projections. Examples of what could happen: Compelling data on lives saved through autonomous systems creates groundswell to outlaw human driving Diesel engine bans in urban cores, first for buses, then delivery trucks, then passenger vehicles Aggressive regulatory action on CO2 emissions (eg outright ban on CO2 emissions by 2025/30) OEMs make decision to stop investing in ICE engine development Shared vehicle platforms like Uber, Lyft, Didi use ban of ICE vehicles on their platform as a marketing advantage once economics of EV drive train becomes compelling The China effect: China’s next 5 year plan sets near term timeline for elimination of ICE engine Drop in residual values of ICE vehicles and in new car insurance and gas station business sets off downward spiral in those very influential markets Analysts do not project step changes in adoption! At least some of the above are likely to happen. Analysts don’t know how to factor these step changes into their projections

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Largest EV Charging Network 35,000+ Charging Spots 325,000+ Drivers 24.5M+ Charges Delivered 70+% Market Share of Networked Chargers 500 DC fast chargers

Best Product Offering and Business Model… Complete Platform of Hardware Products Initial Offering Sell the best engineered and designed hardware Home Fleet Public DC Fast (50kW) DC Fast (24kW) DC Ultra Fast (50-400kW) Enables Recurring Revenue Model Cloud Services Subscription Network services Per/port 1-5 years Growing Element of Business Model Maintenance 1 year included, plus additional 1-4 year contracts Energy Services Demand response, ancillary services, carbon credits Transactions Share of driver transactions Driver Monetization Advertising, OEM partnerships, mobile app 11

Cloud Services Critical to Your Operations Real time station availability Reporting on fuel savings, energy usage, GHG and more Access control policies for driver groups Flexible pricing and automated collections Integrate with your systems Energy management capabilities Customer support for station managers and drivers Driver tools to locate and use stations

ChargePoint Analytics: Measuring Success Energy (kWh) Peak Load, Average Load (kW) GHG Avoidance and Gasoline Savings Station Utilization Unique Drivers Peak Occupancy Session Length Histogram Detailed Transaction Data Integrate data into your existing systems Data Driven Decisions Data driven decisions, not decisions based on anecdotal information or social media

The Future of Mobility ChargePoint Express 250 Standalone DC Fast Charger ChargePoint Express Plus Platform for ultra-fast DC charging

Building Blocks for Modular Deployment Express Plus Station Up to 3 connectors Dual display 2 Power Modules (62.5 kW) Liquid cooled cable Up to 400 kW output Power Module 31.25 kW Liquid cooled Easily installed, no special tools to change out modules Power Cube Scale to up to 16 Power Modules (500 kW per cube) Supports up to 8 Stations Liquid cooled

Express Plus Sample Configurations Grow charging capacity without stranded investment Pre-wire sites and grow without ongoing construction Up to 400 kW per port Up to 312 kW per port Up to 125 kW per port Ultra-fast DC charging Hundreds of miles in 15 minutes Up to 62.5 kW per port

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