Energy Vault Issues 2023 Sustainability Report - Seite 2

Energy Vault accomplished all established 2023 goals disclosed in its 2022 Corporate Sustainability Report:

• Completed a climate risk analysis aligned with the Task Force on Climate-related Disclosures (TCFD), of which the full report can be viewed on the Company’s website.
• Joined the United Nations Global Compact (UNGC) – Energy Vault employees have participated in UNGC Accelerator programs and will continue to engage in 2024.
• Submitted near-term targets to the Science Based Targets initiative (SBTi), and they have been validated by the 3rd party non-profit.
• Enhanced Global Reporting Initiative (GRI) disclosures.
• Continued participation in the S&P Global Corporate Sustainability Assessment (CSA), showing a 200% increase from the Company’s 2022 ESG score.

“While our mission at Energy Vault revolves around the goal of accelerating the global clean energy transition, we are equally committed to prioritizing responsible business practices, transparency in business disclosures, and circular economic strategies,” said Michael Van Parys, Director of Sustainability, Energy Vault. “As the business continues to grow and evolve to meet the growing demand for tailored energy storage solutions around the globe, I’m confident in our ability to continue to progress toward and ultimately achieve our sustainability goals moving forward.”

Energy Vault invites all of its stakeholders across the world to read its 2023 Sustainability Report at the following link: Sustainability Report 2023

About Energy Vault

Energy Vault develops and deploys utility-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 supported by the Company’s hardware technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short-and-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial reuse, Energy Vault’s EVx gravity-based energy storage technology is facilitating the shift to a circular economy while accelerating the global clean energy transition for its customers. Please visit www.energyvault.com for more information.