Energy Vault (NRGV) Registration Filing summary

Company overview and business model

• Provides turnkey energy storage platforms, including gravity, battery, and green hydrogen technologies, supported by a technology-agnostic energy management system and integration software.

• Transitioned in 2024 from a pure build-and-transfer/licensing model to also owning and operating energy storage assets in select markets.

• Focuses on helping utilities, independent power producers, and large industrial users reduce energy costs and maintain reliability as renewable energy adoption grows.

• Incorporated in Delaware, with headquarters in Westlake Village, California.

Financial performance and metrics

• Presents only two years of audited financials and selected data due to emerging growth company status.

• As of November 7, 2025, 167,790,003 shares of common stock were outstanding.

• As of September 30, 2025, there were 6,370,762 options (weighted average exercise price $1.63), 23,764,397 restricted stock units, and 15,238,774 warrants outstanding.

Use of proceeds and capital allocation

• Net proceeds from the $30 million initial tranche of convertible debentures are intended for general corporate working capital, storage project development, construction, and related growth initiatives.

• Additional proceeds may be used for development, construction, or investment in energy storage projects and general corporate and administrative expenses.

• Will not receive proceeds from the resale of shares by the selling stockholder; will pay certain offering expenses except underwriting discounts and commissions.