EVgo, Inc. (NASDAQ:EVGO) Q2 2021 Earnings Conference Call August 11, 2021 11:00 AM ET Company Participants Ted Brooks – Vice President-Investor Relations Cathy Zoi – Chief Executive Officer Olga Shevorenkova – Chief Financial Officer Conference Call Participants Craig Irwin – Roth Capital Partners Gabe Daoud – Cowen and Company Jon Lopez – Vertical Group Philip James – Pickering Energy Partners Operator Greetings and welcome to the EVgo’s Second Quarter, 2021 Earnings Call. At this time, all participants ar ...

Proprietary and Confidential - Do not Distribute 1 EVgo Q2 2021 Earnings Call August 11, 2021 EVgo FAST CHARGING Safe Harbor & Forward Looking Statements Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipa ...

[PART I – FINANCIAL INFORMATION](index=7&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial statements and related notes for the period ended March 31, 2021 [Financial Statements](index=7&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements and comprehensive notes for the quarter ended March 31, 2021 [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of March 31, 2021, shows approximately **$230.0 million** in the Trust Account and a significant increase in total liabilities to **$72.1 million**, driven by warrant liability revaluation Condensed Consolidated Balance Sheet Data (Unaudited) | Account | March 31, 2021 (USD) | December 31, 2020 (USD) | | :--- | :--- | :--- | | **Assets** | | | | Cash | $385,272 | $990,249 | | Investments held in Trust Account | $230,006,837 | $230,003,380 | | **Total Assets** | **$230,812,755** | **$231,255,125** | | **Liabilities & Equity** | | | | Warrant liability | $61,855,000 | $32,844,000 | | Deferred underwriting fee payable | $8,050,000 | $8,050,000 | | Total Liabilities | $72,121,885 | $41,642,277 | | Class A common stock subject to possible redemption | $153,690,860 | $184,612,840 | | Total Stockholders' Equity | $5,000,010 | $5,000,008 | [Condensed Consolidated Statement of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statement%20of%20Operations) For the three months ended March 31, 2021, the company reported a net loss of **$30.9 million**, primarily due to a **$29.0 million** non-cash charge from warrant liability revaluation and **$1.9 million** in operating costs Statement of Operations Highlights (For the three months ended March 31, 2021) | Item | Amount (USD) | | :--- | :--- | | Formation and operating costs | $1,914,450 | | Loss from operations | ($1,914,450) | | Change in fair value of warrant liability | ($29,011,000) | | **Net loss** | **($30,921,978)** | | Basic and diluted net loss per share, Class B | ($5.38) | [Condensed Consolidated Statement of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) Net cash used in operating activities was approximately **$0.6 million** for the three months ended March 31, 2021, resulting in a net decrease in cash of **$604,977** and an ending balance of **$385,272** Cash Flow Summary (For the three months ended March 31, 2021) | Cash Flow Activity | Amount (USD) | | :--- | :--- | | Net cash used in operating activities | ($579,977) | | Net cash used in financing activities | ($25,000) | | **Net Change in Cash** | **($604,977)** | | Cash – End of period | $385,272 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes provide comprehensive details on the company's SPAC status, the pending EVgo business combination, critical accounting policies, and fair value measurements of financial instruments - The company, a SPAC, entered into a business combination agreement with EVgo Parties on January 21, 2021[51](index=51&type=chunk)[68](index=68&type=chunk) - The EVgo transaction included a **$400.0 million** PIPE financing through the sale of **40,000,000** Class A common shares at **$10.00** per share[71](index=71&type=chunk) - A significant accounting policy involves treating warrants as liabilities at fair value, with changes recognized in the statement of operations[84](index=84&type=chunk) - The warrant liability's fair value increased from **$32.8 million** at December 31, 2020, to **$61.9 million** at March 31, 2021, resulting in a **$29.0 million** charge to earnings[133](index=133&type=chunk)[43](index=43&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section discusses the company's operating results, liquidity, and capital resources, focusing on the pending EVgo merger, PIPE financing, and the **$30.9 million** net loss driven by warrant revaluation - The company, a blank check entity, entered into a definitive Business Combination Agreement with EVgo Parties on January 21, 2021[137](index=137&type=chunk)[139](index=139&type=chunk) - For the quarter ended March 31, 2021, the company reported a net loss of **$30.9 million**, primarily from a **$29.0 million** non-cash change in warrant liability fair value and **$1.9 million** in operating costs[146](index=146&type=chunk) - As of March 31, 2021, the company held approximately **$230.0 million** in the Trust Account and **$0.4 million** in cash for operating purposes[150](index=150&type=chunk)[151](index=151&type=chunk) - On March 31, 2021, the company borrowed **$280,000** from Holdings (an EVgo party) via a promissory note to cover transaction expenses[157](index=157&type=chunk) - The accounting for warrants, classified as liabilities re-measured to fair value each period, is identified as a critical accounting policy[163](index=163&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company faces minimal market or interest rate risk as Trust Account funds are invested in short-term U.S. government treasury obligations - The company has minimal exposure to market or interest rate risk due to Trust Account funds being invested in short-term U.S. government treasury obligations or money market funds[167](index=167&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204.%20Control%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective as of March 31, 2021, due to a material weakness in warrant accounting, with remediation plans underway - Management concluded that disclosure controls and procedures were not effective as of March 31, 2021[169](index=169&type=chunk) - The ineffectiveness stemmed from a material weakness in internal control over warrant accounting, which were misclassified as equity instead of derivative liabilities[169](index=169&type=chunk)[173](index=173&type=chunk) - The company plans to remediate this weakness by improving access to accounting literature and enhancing communication with professionals on complex accounting matters[174](index=174&type=chunk) [PART II – OTHER INFORMATION](index=30&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) This section provides other required information, including legal proceedings, risk factors, and exhibit listings [Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal or regulatory proceedings that would adversely affect its business or financial condition - The company is not presently a party to any material legal or regulatory proceedings[176](index=176&type=chunk) [Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report - As of the date of this report, there have been no material changes to the risk factors disclosed in the company's Annual Report[177](index=177&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities during the period - None[179](index=179&type=chunk) [Defaults Upon Senior Securities](index=30&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period - None[181](index=181&type=chunk) [Mine Safety Disclosures](index=30&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[183](index=183&type=chunk) [Other Information](index=30&type=section&id=Item%205.%20Other%20Information) There is no other information to report for the period - None[185](index=185&type=chunk) [Exhibits](index=30&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the Quarterly Report, including the Business Combination Agreement with EVgo and the PIPE financing subscription agreement - Key exhibits filed include the Business Combination Agreement with EVgo and the Form of Subscription Agreement for the PIPE investment[187](index=187&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2020 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File No. 001-39572 Climate Change Crisis Real Impact I Acquisition Corporation (Exact name of registrant as specified in its charter) Delaware 85-2326098 (State ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39572 CLIMATE CHANGE CRISIS REAL IMPACT I ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) (State or ...