Augwind Energy Tech Storage Ltd — Investor Presentation 2022

Aug 31, 2022

Investor presentation August 31st, 2022

DISCLAIMER

The information included under this presentation (the "Presentation") is for informational purposes only and does not constitute or form any part of any offer to purchase securities and/or an invitation to make offers for their purchase or solicitation of any of the above regarding any securities of Augwind Energy Tech Storage Ltd.(the "Company").

This Presentation was made for a convenient and concise presentation, and it does not exhaust the full data and information about the Company and its activities that may be relevant for the purpose of obtaining any decision regarding investment in the Company's securities, and therefore does not replace the need to review and inspect the company's Reports to the Israel Securities Authority, and especially the company's annual report for the period ended on 31.12.2021, published on March 31, 2022 ((reference number: 2022-01-034605) the "Annual Report")) and the latest periodic Report for theperiod ended on 30.6.2022, published on August 31, 2022 (reference number: 2022-01-111244) (all together the "Public Information").

The information under this Presentation is not a substitute for Public Information and in the event of any conflict between the content of this Presentation and the content of any Public Information,the content of thePublic Information shall prevail.

The information in this Presentation should not be relied upon as any representation or warranty, express or implied, of the Company. No reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained in this Presentation. No legally binding obligations will be created, implied, or inferred from this Presentation. Various statements in this Presentation include information which derives from forecasts, estimates, assessments, and other information pertaining to future events and/or matters, whose materialization are uncertain and beyond the Company's control, and which constitute "Forward-looking information", as defined in the Israeli Securities Law, 1968.

Forward-looking information includes descriptions regarding the intent, belief or current expectations of the Company and are not guaranteeing future results, performance or achievements and are based on current expectations, estimations, and assumptions, involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performances or achievements of the Company may differ materially from what is or may be expressed or implied in this Presentation due to a variety of factors, many of which are beyond the Company's control, including, without limitation, certain risk factors as contained in the Public Information. The Company does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. Certain information and factual statements (including in regard to markets or trends) contained herein are based on or derived from publicly available documents or independent third-party sources, and therefore the accuracy of such information and the assumptions on which such information is based have not been independently verified.

Our solutions address the world's most critical energy needs

Expanding our product portfolio Introducingadditional Products in the pipeline

Q2 2022 Key Financial highlights

3

Today, more than ever Augwind's solutions address the world 's most critical needs:

Achieving energy efficiency 1

Reducing carbon footprint 2

Soaring energy prices enhance the value of Augwind's solutions

Source: Statista 2022

Augwind's current solutions

(1) Company's estimates, analysis based on Bloomberg, IHS Market (2) Company's analysis, for US, EU and Israel, as elaborated in the Annual report

AirSmart - proven energy savings

Petroleum

Another project successfully built in Q2-22

Client	Tempo Beverages manufacturer, part of	(top Israeli Heineken group)
Location	Netanya Industrial Park, Israel
AirX Tanks	3 tank, Max pressure 40 bar
Expected operation	Sep. 2022
Augwind income	NIS 2mil.
Expected energy savings	30%

AirBattery strategic pillars for global commercial success

Enhance local capabilities, globally

Initiate strategic partnerships to support globalization plan and enhance capabilities

Deploy & scale up

Scale up the system to a full commercial scale. Identify and focus on AirBattery's strongest use-cases and market verticals

Techno-economical roadmap

Constantly improve RTE, Reduce cost per KWh by design improvements, economies of scale, etc.

Scale-up and Technology roadmap

IEC AirBattery schedule delayed

29.8.22

מחברת החשמל נמסר כי "אגירת אנרגיה חשובה וקריטית לעתיד משק החשמל ולכן חברת החשמל תמשיך לחפש, לבחון ולתמוך בפרויקטי אגירה חדשניים. אוגווינד מביאה גישה טכנולוגית מעניינת ולכן חברת החשמל תמשיך לשתף פעולה ולבחון את התקדמות הטכנולוגיה שלה, אף שכעת היא טרם הבשילה לפרויקט תפעולי בהיקף מסחרי גדול".

Halutz Rotem AirBattery project

Estimated schedule:

Lithium: Major Demand/Supply Challenges Ahead

Shortages are expected through 2035 due to growing demand and Supply Chain Vulnerabilities

Source: BCG , capital

Expanding our product portfolio

Introducing three additional lines of products based on Augwind's core technology

Use-cases for a variety of sectors: Energy, oil and gas, industry, etc. under development

Address the world's most critical needs Achieving energy efficiency and reducing carbon footprint

18 patents 13 pending patents

Underground storage of high-pressure air/gas

Water-compressor

Using water to compress air to high-pressure for industrial use

The Need

Most industrial plants use highpressure air for pneumatic and other processes

The challenge

Producing compressed air efficiently and at low energy cost

Augwind's solution

Using water-compressor instead of air-compressor, and improving compression energy efficiency by 30%-50%

Augwind's Water Compressor

Generating compressed air in a unique highly energy-efficient process

Total Addressable Market

2022 2030

Air compressors global market size¹

(1) Air compressor, Market estimates & trend analysis, GVR, 2022

NG-2-H

Generating hydro-electricity at minimal cost from natural gas pressure reduction stations

The Need

How to produce low-cost electricity with low carbon footprint

The challenge

2022

Developing innovative technologies for electricity generation

Augwind's solution

Use wasted energy (natural gas pressure reduction) to produce electricity at minimal cost and zero carbon footprint. Possible retrofit to existing facilities.

Generating electricity while regulating pressures in natural gas distribution systems (PRMS)

Product roadmap NG-2-H

2022	Adjusting Augwind's existing technology to natural gas environment
2022/3	Teaming up with natural gas transmission players to build commercial demo projects
TBD	Go to market

Huge Potential, Europe & US alone: 5,000-10,000 PRMS units with estimated capacity potential of 4,000-6,000 MW³

(3) Based on study done by Augwind

Cavern-AirBattery (CAB)

Achieving low-cost seasonal energy storage by compressing air into existing underground caverns

The Need

Long duration/seasonal energy storage.

The challenge

Market potential

hundreds of \$M/year for Augwind Achieving low-cost long duration/seasonal energy storage solutions and solutions for storage of other gases

Augwind's solution

Use existing underground caverns (depleted gas fields, mines, etc.) to store compressed air & other gases

Augwind's CAB Go to Market Strategy

Identify available underground caverns in relevant target markets

Team up with energy/infrastructure players

Perform feasibility studies Launch first demo project

Market potential

Hundreds of \$M/year for Augwind²

(2) Company's analysis, based on technical potential of salt caverns for Hydrogen storage in Europe, Caglayan et al. 2020

Augwind is expanding its product portfolio

Key Financial Results – Q2.2022 (ILS Thousands)

	Q2.22 A	Q2.21 A
Revenue	797	407
COGS	(1,199)	(134)
Gross Profit (Loss)	(402)	273
R&D expenses	(8,539)	277
Selling and Marketing	(1,475)	(3,850)
G&A	(36)	(8,950)
Operating Profit (Loss)	(10,452)	(12,250)
Finance and Tax expenses, net	724	117
Net Profit (Loss)	(9,728)	(12,133)

Cash Flow

	Q1.22 A	Q2.22 A	H1.22 A
Cash Opening balance	6,667	29,936	6,667
Operating activities		(17,835) (10,445)	(28,216)
Investing activities	39,274	(251)	39,023
Financing activities	1,830	623	2,389
Total Cash Flow	23,269	(10,073)	13,196
Cash Closing Balance	29,936	19,863	19,863

Profit & Loss Balance Sheet

	30/06/2022	31/12/2021
Cash & Cash equivalents	19,863	6,667
Short-term deposits	90,693	130,618
Trade receivables	1,722	3,479
Other accounts receivable	4,258	3,013
Inventories	2,545	1,849
Current assets	119,081	145,626

Long-term deposits	–	–
Other Long-term Assets	38,923	41,438
Non-Current Assets	38,923	41,438
Total Assets	158,004	187,064
		–
Current liabilities	15,345	14,530
Non-Current liabilities	15,329	15,261
Share capital and premium	326,075	322,730
Accumulated deficit	(198,745)	(165,457)
Total Liabilities	158,004	187,064

Thank You

Harnessing the elements for a clean future