Energy Vault Receives the Highest 2024 ESG Score to Date Among Energy Storage Companies in its Industry from S&P Global Ratings

WESTLAKE VILLAGE – Energy Vault Holdings, Inc. (NYSE: NRGV) (‘Energy Vault‘), a leader in sustainable, grid-scale energy storage solutions, today announced that it received a Corporate Sustainability Assessment (CSA) score of 68 (out of 100) in the 2024 S&P Global Environmental, Social and Governance (ESG) report. Ratings.

This is the third time the company has been rated by S&P and represents a 36% (or 18 point) increase over the Company’s 2023 rating.

Among the 195 companies evaluated to date in the IEQ industry, Energy Vault His score is in the 98th percentile. Energy Vault The score is the highest achieved by any energy storage company in the IEQ industry. S&P Global’s 2024 ESG Ratings to date. as of September 2, 2024, Energy Vault Received the highest score in the industry for Product Stewardship and Business Ethics.

‘We are proud to be recognized’ S&P Global For our commitment to ESG, which is woven into the fabric of everything we do. Energy Vault,’ in question Robert PiconiCEO and Founder, Energy Vault. ‘This assessment confirms the leadership role Energy Vault Regarding ESG, we are also active in the energy sector and will continue to prioritize and expand our efforts to improve further. ‘As a company, we are committed to keeping sustainability at the heart of our daily work as we continue to expand our global footprint in delivering turnkey energy storage systems and software to our customers around the world.’

‘Our work is rooted in sustainable values; By leveraging our products, solutions and people, we create a lasting positive impact on the world. “We are pleased to see these efforts recognized today,” he said. Michael Van ParysSustainability Director, Energy Vault. ‘Based on this result, we are pushing the boundaries of sustainability in energy storage and continuing our corporate mission to accelerate the transition to renewable energy.’

Energy Vault Sustainability road map, influenced by analyzes carried out in line with the Science-Based Targets Initiative (SBTi), Global Reporting Initiative (GRI) and Working Group on Climate-Related Financial Disclosures (TCFD) is focused on informing all decision-making levels regarding the development of low-carbon economies and the assessment of climate-related physical risks. In its first year as a public company, Energy Vault formed Sustainability Task Force (STF) to foster the cross-departmental collaboration and cross-functional support necessary to place sustainability at the center of employee behavior. At the department level, Sustainability Task Force Members are responsible for setting operational sustainability metrics, setting sustainability goals, tracking ESG performance, and contributing to sustainability-related reporting.

Energy Vault It remains firmly committed to reducing absolute scope 1 and 2 greenhouse gas emissions under the Paris Agreement by 50% by 2030 and achieving net zero emissions by 2050. Energy Vault The second annual Corporate Sustainability Report highlights early-stage data and 2023 activations of newly established sustainability infrastructure, systems, protocols, standards and metrics that measure the organization’s current and future success. You can access that report here.

About Energy Vault

Energy Vault It develops and implements grid-scale energy storage solutions designed to transform the world’s approach to sustainable energy storage. The company’s comprehensive offerings include proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is powered by the Company’s energy management system software and integration platform that is independent of hardware technology. Industry specific, Energy Vault The innovative technology portfolio offers customized short- and long-duration energy storage solutions to help utilities, independent power producers and large industrial energy users significantly reduce energy costs at the same level while maintaining power reliability. Using environmentally friendly materials with the ability to integrate waste materials for beneficial reuse, Energy Vault G-Vault gravity-based energy storage technology accelerates the global clean energy transition for its customers while facilitating the transition to a circular economy. Please visit www.energyvault.com for more information.

Forward-Looking Statements

This press release contains forward-looking statements that reflect the Company’s current views regarding, among other things, the Company’s operations and financial performance. Forward-looking statements include information regarding possible or assumed future results of operations, including descriptions of our business plan and strategies. These expressions are frequently used as ‘estimate’, ‘expect’, ‘suggest’, ‘plan’, ‘believe’, ‘intend’, ‘project’, ‘estimate’, ‘predictions’, ‘targets’, ‘estimates’, ‘should’, ‘could’, ‘could’, ‘could’, ‘could’, ‘will’ and other similar expressions. We base these forward-looking statements or predictions on our current expectations, plans and assumptions based on our experience in our industry as well as our perceptions of historical trends, current conditions, anticipated future developments and other factors. We believe that it was appropriate for the conditions of that time. These forward-looking statements are based on our beliefs, assumptions and expectations of future performance, considering the information currently available to us. These forward-looking statements are only predictions based on our current expectations and estimates of future events. These forward-looking statements involve significant risks and uncertainties that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including any changes. in our strategy, expansion plans, customer opportunities, future operations, future financial condition, estimated revenues and losses, projected costs, expectations and plans; uncertainty as to whether our awards, bookings and backlogs will equal future revenue; lack of assurance that non-binding letters of intent and other indications of interest will result in binding orders or sales; the possibility that our products may be defective or claimed to be defective or experience other malfunctions; the implementation, market acceptance and success of our business model and growth strategy; our ability to develop and maintain our brand and reputation; developments and predictions about our business, our competitors and our industry; the ability of our suppliers to deliver components or raw materials required for the construction of our energy storage systems in a timely manner; the impact of health outbreaks on our business and actions we may take in response; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe the rights of others; Expectations for when we will be a developing and growing company within the scope of the JOBS Act; our future capital requirements and sources and uses of cash; the international nature of our operations and the impact of war or other hostilities on our business and global markets; our ability to obtain funding for our operations and future growth; our business, expansion plans and opportunities, and other important factors discussed under the heading ‘Risk Factors’ in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with SEC Open March 13, 2024as such factors may be updated from time to time in other filings. SECcan be accessed at SECs website www.sec.gov. New risks emerge from time to time, and it is not possible for our management to predict all risks, and we cannot evaluate the impact of all factors on our business or the extent to which any factor or combination of factors may lead to actual results. differ materially from those contained in any forward-looking statements we may make. Any forward-looking statements made by us in this press release speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements contained in this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. You should not place undue reliance on our forward-looking statements.

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