Peter Luttik VP Technology

Liquid Desiccant Air Conditioning 30-40% kWh energy savings 20% Peak kW capacity reduction <1 Year payback Humidity and temperature controls Liquid Desiccant Heat Exchanger (LD-HX) for efficient dehumidification Cooling and heating under (very) hot and humid conditions 30-40% energy savings demonstrated versus best in class solutions Plus: improved comfort, no condense, form factor Plus separate humidity and sensible control High performance building solution with <1 Year payback 20%+ Peak capacity reduction at <$1000 per kW capacity

Demonstrations confirm savings 1 - 2016 3 2 2 1 5 4- 2014 2 2016 5 - 2014 3 - 2016 Under extremely hot and humid condition in the record braking Gulf region we demostrated 30-40% improvement over best in class solution Two small mini split solution was tested in our lab, one for DOD the other for an OEM partner under a joint development agreement 2 years ago with support from DOE/DOD/NREL we tested a large 30Ton unit in Guam. Issues that arose have been fully adressed 5. NREL lab test in 2014. Under IN2 new lab test of panels only later this year.

Single Step Cooling Solution 85F, 70% Rel. Hum. 100% Rel. Hum. 50% Rel. Hum. Conventional Over Cools and Reheats 7AC Desiccant HVAC Dries and Cools Humidity Solid Desiccant Over Heats and Dries Target 74F, 50% Rel. Hum. Reheat 90F 100F 80F 70F 60F 50F Temperature Conventional HVAC 100 year old technology Overcools to dehumidify Reheats for comfort Lower lift No reheat Lower capacity Simple configuration - outperforms highly complex multi stage systems STRICTLY CONFIDENTIAL 7AC Technologies, Inc. COMPANY CONFIDENTIAL DATA 11/29/2018

7AC Core technology: Hydrophobic membrane Air flowing through our panels flow over a membrane that is 80% open. Vapor can go through. Water can’t since the membrane is highly “hydrophobic”. As water vapor is taken out of the air, the desiccant wants to warms it up which would make it loose its absorptive capacity. But a large volume of cooling water (10x) prevents that from happening. That’s important, because it keeps the desiccant highly efficient.

LDAC saves energy by lowering lift Reduces work that compressor has to do. It can move the same amount of energy with less effort if the delta T is lower. Remember it’s a pump. Lifting something twice as high takes twice the energy!

LDAC- Liquid desiccant Air Conditioning Air is conditioned by one set of panels to a specified humidity and temperature level, then the desiccant is send to the hot side of our compressor. There it reconcentrates, at the same time reducing the operating temperature

Strong IP position 60 Global Patent Applications 30 US applications 4 NREL Devap related licenses

7AC Investments Sub system suppliers Advanced materials HVAC systems Contractors Building Owners End Users Emerson Electric (2016) 2 Year Evaluation Technology Gating Process OEM partnering Sabic (2015) DOAS demonstration in Arabian Gulf 3M (2013) NREL – License, CRADA, IN2 (2011-2016) DOD Innovative Cooling Equipment demonstration (2016) Navfac demonstration (2014) Massachusetts clean energy center – AQUA 1 demonstration (2017)

Development Partnerships >$1M Modeling Testing Demonstrations CRADA DOE/DOD MOU IN2 Advanced materials Sub system suppliers HVAC systems Contractors Building Owners End Users >$1M in joint development agreement with 6 OEMs NDA’s with 12 out of 20 leading OEMs Full development pipeline

OEM Partnerships >$1M Advanced materials Sub system suppliers HVAC systems Contractors Building Owners End Users 6 OEM Joint Development Agreement’s 12 OEM NDA’s >$1M in joint development agreement with 6 OEMs NDA’s with 12 out of 20 leading OEMs Full development pipeline

“7AC Inside”: modules for OEMs

Options for accelerating adoption New Generation capacity Cost per kW $3000 Present Price Per Ton $2000 $1000 DOAS Dehumidication Ventilation standards (ASHRAE) Building standards (DOE) Other (DOD?) DX .2Q DEVAP 2Q High end industrial dehumidification Residential focus on comfort, air quality, form factor Chilled water networks to meet efficiency and dehumidification requirements Commercial focus on affordable building quality Towards net zero with up to 90% water savings versus evaporative cooling solutions 20% 40% 60% 80% 100% Savings per Unit (kWh/kW) Quads savings

Next Steps 2017 focus on commercial Panel 2018 Initial commercial panel production Demonstrations with existing partners – Joint design Other climate zone’s: dry/humid, cooling and heating Best in class commercially viable Energy Savings Technology 2018 Commercial demonstrations high value Dehumidification and DOAS opportunities Additional joint development OEM partners