Exhibit 99 Stem Announces Fourth Quarter and Full Year 2023 Results Achieved Key Milestone with Positive Adjusted EBITDA in Q4 and 2H23 Expect to Generate at Least $50 million of Operating Cash Flow in 2024 Awarded PowerBidder Pro Contract by Mercuria Energy Trading TM Outlook Fourth Quarter and Full Year 2023 Financial and Operating Highlights Financial Highlights – Fourth Quarter 2023 Financial Highlights - Full Year 2023 Operating Highlights – Fourth Quarter 2023 and Full Year 2023 SAN FRANCISCO – Februa ...

Stem, Inc. (NYSE:STEM) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Ted Durbin - Head, Investor Relations John Carrington - Chief Executive Officer Bill Bush - Chief Financial Officer Mike Carlson - Chief Operating Officer Prakesh Patel - Chief Strategy Officer Conference Call Participants Thomas Boyes - TD Cowen Brian Lee - Goldman Sachs Joe Osha - Guggenheim Partners Andrew Percoco - Morgan Stanley Sean Milligan - Janney Justin Clare - ROTH MKM Abhi Sinha - Northland C ...

Q3 2023 Financial Results A Cautionary Statement Regarding Forward-Looking Statements This presentation, as well as other statements we make, contains "forward-looking statements" within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as "expect," "may," "can," "believe," "predict," "plan," "potential," "projected," "projections," "forecast," "estimate," "intend," "anticipate," "ambition," "goal," "target," "thi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ————————————————— FORM 10-Q ————————————————— ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ STEM, INC. (Exact name of registrant as specified in its charter) Delaware 001-39455 85-1972187 (State or Ot ...

Financial Data and Key Metrics Changes - Revenue for Q2 2023 was $93 million, representing a 39% increase compared to $67 million in Q2 2022, exceeding the midpoint of guidance [5][41] - Net income was $19 million, a significant improvement from a net loss of $32 million in the same quarter last year, primarily due to a one-time $59 million gain on debt extinguishment [15] - Adjusted EBITDA was a negative $9 million for Q2 2023, an improvement from a negative $11 million in the same quarter last year, with expectations to achieve positive adjusted EBITDA in the second half of 2023 [122] Business Line Data and Key Metrics Changes - High-margin services revenue grew 31% year-over-year and 11% sequentially, contributing $16 million, which accounted for 17% of total revenue for the quarter [5][13] - Software revenue increased by 10% sequentially, driven by storage software growth and improving solar growth [7] - Bookings increased by 5% year-over-year to $236 million, with larger deal sizes noted in the front-of-the-meter market segment [6] Market Data and Key Metrics Changes - Backlog increased by 88% year-over-year and 10% sequentially to $1.4 billion, driven by strong customer demand [17] - The company reported a 39% year-over-year increase in solar backlog, indicating solid growth in services revenue and assets under management (AUM) [9] - AUM for storage grew from 3.5 gigawatt hours in Q1 2023 to 3.8 gigawatt hours in Q2 2023, a 9% increase [46] Company Strategy and Development Direction - The company is focused on converting backlog to revenue and achieving EBITDA positive in the second half of 2023, with a strong emphasis on operational efficiency and cost discipline [18][45] - The integration of generative AI tools into software development is expected to enhance productivity and accelerate the product roadmap [11][121] - The company aims to expand its presence in the cooperative and municipal utility market, as demonstrated by a significant project win with Ameresco [36][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive adjusted EBITDA in the second half of 2023, supported by strong end-market demand and a solid pipeline of projects [19][25] - The company is closely monitoring supply chain dynamics and expects to benefit from hardware cost deflation trends in 2024 [27][29] - Management highlighted ongoing challenges with interconnections, particularly in markets like New York and Texas, which could impact project timelines [73][114] Other Important Information - The company received the Top Product of the Year award, recognizing its differentiated economics and sustainability benefits [10] - The company is leveraging advancements in AI to enhance asset management capabilities and improve software development efficiencies [11][12] Q&A Session Summary Question: What is the product roadmap for Athena and generative AI? - Management indicated that the digital assistant is a key use case for generative AI, with potential for further applications in the future [50][51] Question: Why is guidance unchanged despite solid revenue growth? - Management explained that the guidance remains conservative due to the wide range and potential delays in project execution [52] Question: What is the timeline for achieving positive adjusted EBITDA? - Management is optimistic about achieving this in Q3 or Q4, citing strong commercial demand and operational improvements [53] Question: How is the company approaching international markets? - Management stated that while the U.S. remains the primary focus, they are monitoring opportunities in Europe, particularly following a significant win in Hungary [59] Question: What are the key markets showing strength in bookings? - Management highlighted strong performance in New England, Texas, and California for storage, and continued strength in solar across the U.S. and Europe [60][61] Question: What is the outlook for software-only contract awards? - Management expects an increase in software-only contracts as the market matures and customers seek more modular solutions [88] Question: How will working capital trend into 2024? - Management anticipates a more favorable working capital situation in 2024, with expectations of increased cash collections in the second half of 2023 [95][111]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ————————————————— FORM 10-Q ————————————————— ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ STEM, INC. (Exact name of registrant as specified in its charter) Delaware 001-39455 85-1972187 (State or Other J ...

Financial Performance - Revenue for Q2 2023 was $93 million, a 39% increase year-over-year[65] - Contracted backlog reached $1.36 billion, up 88% year-over-year[65] - Non-GAAP gross margin was 18% in Q2 2023, compared to 17% in Q2 2022[7, 56] - The company is reaffirming full-year 2023 revenue guidance of $550 million to $650 million and bookings of $14 billion to $16 billion[21, 90] Key Business Updates - Total Solar Services revenue increased by 9% quarter-over-quarter[27] - Solar software services revenue increased by 4% quarter-over-quarter[27] - Contracted Annual Recurring Revenue (CARR) increased by 5% quarter-over-quarter to $75 million[35, 65] - Storage Assets Under Management (AUM) increased by 9% quarter-over-quarter[20] Technology and Projects - The company highlighted a 304 MW Hungary project demonstrating increasing Front-of-the-Meter (FTM) success[6, 80] - A 78 MW / 313 MWh Ameresco project is expected to be in service in 2024[6, 68] - AI tools are boosting coding productivity by up to 50% for the Stem software engineering team[70]

Stem, Inc. (NYSE:STEM) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Ted Durbin - Vice President, Investor Relations John Carrington - Chief Executive Officer Bill Bush - Chief Financial Officer Mike Carlson - Chief Operating Officer Prakesh Patel - Chief Strategy Officer Conference Call Participants Brian Lee - Goldman Sachs Andrew Percoco - Morgan Stanley Biju Perincheril - Susquehanna Julien Dumoulin-Smith - Bank of America Thomas Boyes - TD Cowen Maheep Mandloi - Credit Su ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ————————————————— FORM 10-Q ————————————————— ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ STEM, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation) Delaware 0 ...

FCA = Forward Capacity Auction e and the submit and the submit and the submit of the submit of the submit of the sub- and and stem 63% (13) (14) • Revenue up 63% YoY in Q1'23 ○ India represents >50% of YTD headcount additions (through 3/31) $ millions unless otherwise noted AUM – Storage (GWh) 13% • Backlog up 120% YoY, driven by strong bookings • Solar AUM up 2% QoQ; continuing to migrate customers away from legacy applications $240M Green Convertible Senior Notes ● Net proceeds: $234M ○ $28M to purchase " ...