Eos’ mission is to develop energy storage solutions that are less expensive than incumbent solutions used to provide the same service today—namely gas turbines for peak generation capacity and copper wire for delivery capacity Eos is a technology development and commercialization company. We are not manufacturers and we don’t intend to become large-scale manufacturers; yet manufacturing and supply chain development/optimization is critical to our success as a company. I hope to achieve 3 key objectives with my 10 minutes in the lime light: Familiarize you with our technology and why it deserves your attention Present Eos’ approach to manufacturing and our role in the energy storage supply chain Discuss our path to commercialization and where you can help Eos Energy Storage CREA Energy Innovations Summit | Denver, CO Philippe Bouchard, VP of Business Development

Ratepayers fund hundreds of $Bs of infrastructure to serve peak demand Today’s Electricity Grid is Massively Overbuilt & Under Utilized… Generation Transmission Distribution # in U.S. 17,350 plants 164,000 miles 3 million miles Utilization 47% 43% 34% Projected spend 2010-2030 $505B $298B $582B Projected underutilization ~$822B of future US infrastructure will be underutilized without storage Ratepayers fund hundreds of $Bs of infrastructure to serve peak demand Sources: “Electric Power System Asset Optimization.” NETL, March 2011; “The Power of Five Percent.” The Brattle Group, May 2007

Regional Spending on T&D Projects Completed by 2020 Heavily Weighted Towards the Rockies ~66% of projected infrastructure spend through 2030 is distribution system upgrades Sources: “Electric Power System Asset Optimization.” NETL, March 2011; “The Power of Five Percent.” The Brattle Group, May 2007

Significant growth in energy storage industry has already begun Energy storage market to reach ~$25B by 2022 2013 RFPs outstrip previously installed capacity 2013 energy storage announced RFPs exceed total current global installed non-hydro storage capacity (MW) Battery Energy storage market projection (GW) ($B) 2013 represents a~$4B market confidential Source: IHS “The Grid connected energy storage market” 2014 DOE Storage Database; Press searches

DC battery performance attributes Eos Aurora Designed Specifically to Meet Market Requirements for Grid-Scale Storage DC battery performance attributes Low cost / kWh $160/kWh Long life (high # of cycles) 10,000 cycles (30 years) Energy density 6MWh in a 40ft container High energy efficiency 75% round trip efficiency Safety Non-hazardous, non-combustible v Eos Aurora 1000|4000 Grid-Scale Energy Storage Eos ZnythTM Sub-Module Eos Aurora optimized to meet customer requirements and to provide lowest LCOE

Eos outcompetes gas peaking turbines on an LCOE basis Levelized cost of energy is critical metric for adoption; Eos LCOE lower than incumbents and competitors EOS Eos outcompetes gas peaking turbines on an LCOE basis

Eos Partnering with Major Utilities on Business Case Driven Product Development & Demonstration Optimize Demonstrate Deploy Eos Genesis collaboration includes: Detailed business case analysis to identify profitable opportunities for deployment Testing and evaluation of Eos’ novel ZnythTM battery technology leveraging partner facilities and testing platforms Pilot demonstration of Eos Aurora systems to understand real-world costs and to optimize value streams  Together Eos’ Genesis Partners represent: Customers GW Generation Miles of T&D Countries 7

Powerful Business Cases for Storage MW-Scale Grid-Connected 1 Behind-the-meter Storage 2 Electricity peak shifting (arbitrage) Generation capacity Transmission or distribution deferral Ancillary services Renewables integration premiums Time of Use (TOU) energy management Demand charge reduction $2.1/W locational capacity program Permanent Demand Reduction Demand response program participation

Example: Grid-Connected ‘Triple Play’ Example Financials: 5 MW Eos Installation Cost Installed capital cost of ~$1,970 per kW Annual operating cost = $200,000 per yr ~$10.1 M Gross Revenues (Avg Annual) TOTAL per MW (10 yr period, ~70% RTE) Average Energy Arb $ / MWh Gen Capacity $ / kW – year T&D Value $ / kW – year ~$2.7 M / yr Financing assumptions: 75% debt @ 8.0%, 10 yr All Equity Leverage IRR After tax, residual value 23% 56% Equity Total of outlay + any negative cash flows $10 M $2.5 M Payback After tax, 10% discount rate 4 years 2 years Eos installation creates 56% IRR and 2-year payback

Example: 50MVA Substation Deferral Energy storage can be used on a targeted basis to provide locational capacity and to defer costly T&D upgrades, improving reliability and lowering costs for the utility / ratepayer A T&D upgrade performed as usual; upfront Y1 spend B Storage installed Y1 utility-owned, 5-year T&D deferral Storage installed Y1, 10-year contract (developer monetizes market revenues) C NPV: ($10.5M) NPV: ($6.9M) + $10.3M addition to rate base + $16.1M addition to rate base +$10.3M addition to rate base in Y5

Example Peak Load Shaving Battery / Load Profile

Example: Behind-the-Meter ‘Triple Play’ Example Financials: 100 kW Eos Install Cost Installed capital cost Operating cost = ~$5,000/yr $310,000 Gross Revenues (Avg Annual) Assumes 10 yr period, ~70% RTE Average Energy Arb ($/kWh) ↓Demand charge ($/kW-month) Targeted DSM ($/kW installed) $75,000 Financing assumptions: 50% debt @ 10%, 10 yr IRR After tax, residual value 23% 44% Equity Total of initial outlay + any negative cash flows $310 K $166 K Payback After tax, 10% discount rate 4 yrs 2 yrs All Equity Leverage 100 kW Project Concept Design Eos low-cost, energy dense, and safe battery flattens customer load while increasing resilience Images and financial projections provided courtesy of Convergent Energy + Power

Behind-the-Meter Business Case July 2010 Demand Charge Reduction 2 Hour “Demand Response” Call Balance charge / discharge profile to reduce the monthly peak without creating a new one

What We’re Hearing from the Solar Industry First Solar CEO, Jim Hughes: * Market cannot respond to falling solar prices because of structural limits: Transmission capacity constraints Grid stability issues Load shape and growth Utility resource planning cycles * The key to long term growth is to solve for these constraints. * Price alone won’t do it… Critical question: What is the sustainable business model and where does storage fit in? cleantechsummit.com 1) Jim Hughes, First Solar. Tomorrow’s Utility: The View from the Sun. CleanTech Investor Summit. Feb 2013. http://cleantechsummit.com/resources-2/

Eos continues to make strong progress and will deliver first systems to Genesis partners in Q4 2014 2015… 2kW Modules Internal Testing Feb 2013 AC-Integrated System Q4 2013 Planned Pilot Projects Con Ed Q4 2014 GDF Suez Q4 2014 Manufacturable Sub-Module Design Q3 2013 3rd Party Testing & Validation Q2 2014 Commence MW Genesis Production 2014 Focus: Demonstrate kW-scale, test and optimize AC-integrated systems with Genesis partners, ramp up manufacturing 15

2015 demonstration partners will have priority access to 2016 volume Eos to Announce 2016 Commercial Product Offering and Aegis Program In December, Eos plans to announce availability of its 2016 & 2017 commercial product (DC battery), also offered with full AC integration via Eos’ new Aegis Program COMMERCIAL PRODUCT Firm delivery of 1MW/4MWh systems available at $300/kWh for 2016 install and $160/kWh for 2017 install 1 year standard warranty; up to 5 yr warranty at additional cost AEGIS PROGRAM Establishes formal relationships with system integrators to provide AC- integrated, turn-key systems via multiple distribution channels Aegis partners can provide warranty wrap and option for extended performance guarantee Aegis partners to be announced in near future Aurora 1000 | 4000 (DC battery system) 2015 demonstration partners will have priority access to 2016 volume

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