Energy Vault Begins Construction of 150 MW SOSA Energy Center in Texas’ ERCOT Market in Q4 2025, Bringing Total Asset Vault Portfolio Under Operation & Construction to Over 340 MW While Growing Cash in the Quarter by ~65% to Over $100 Million

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• Asset Vault portfolio under operation and construction totals over 340 MW

  80% confidence

• SOSA Energy Center expected to deliver approximately $350 million in total revenue over the technical life of the project

  80% confidence

• SOSA Energy Center is expected to achieve commercial operation by Q2 2027

  80% confidence

• Breaking ground on the SOSA Energy Center so quickly after acquisition demonstrates the velocity with which we are executing and growing Energy Vault's Asset Vault platform

  80% confidence

• Expected 6-8-year offtake agreement currently in advanced negotiations with an investment-grade counterparty for SOSA Energy Center

  80% confidence

• Texas continues to lead the nation in renewable energy adoption and grid modernization, making it a cornerstone market for our growth strategy

  80% confidence

• SOSA Energy Center expected to generate approximately $17-20 million of recurring annual, high margin revenues

  80% confidence

• This project not only demonstrates our ability to rapidly execute on high-quality acquisitions and move swiftly from acquisition to construction, but also advances Energy Vault's position as a key energy infrastructure partner in supporting Texas's energy transition

  80% confidence