Capstone Green Energy : Management Presentation - January 2023

Management Presentation

Darren Jamison

President & Chief Executive Officer

Scott Robinson

Chief Financial Officer

Smar ter Energy

for a Cleaner Future

Safe Harbor

This presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the financial outlook, business strategy and plans and market trends, opportunities and positioning of Capstone Green Energy Corporation (the "Company," "Capstone," "we," "our" or "us"). These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward- looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason.

Further information on these and other factors that could affect the Company's results, performance, and achievements is included under the heading "Risk Factors" and otherwise in the reports on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission from time to time. Because of the risks and uncertainties, Capstone cautions you not to place undue reliance on these statements, which speak only as of the date of this presentation. There may be additional risks, including risks of which we are not presently aware or that we currently believe are immaterial, which could have an adverse impact on our business. We undertake no obligation, and specifically disclaim any obligation, to release any revision to any forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.

Smarter Energy for a Cleaner Future

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Capstone Overview

Capstone provides high efficiency, low emission power generation products and services that enable our customers to:

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• Lower their energy costs
• Increase their power resilience
• Reduce their carbon emissions

$11.7B Addressable Market

Positioned for Continued and Accelerating Growth

Compelling High Margin Recurring Business Model

"Improving the Global Climate Through

Sustainable Energy as a Service Solutions"

Smarter Energy for a Cleaner Future

NASDAQ: CGRN

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Aligning With Customers & Stakeholders

Financial & Environmental Savings

To date, Capstone has shipped over 10,000 units to 83 countries and

A C C O R D I N G

estimates that in FY22, it saved customers over $213 million in T O A C G S annual energy costs and approximately 388,000 tons of carbon. 2 0 1 9 S T U D Y

Total savings over the last four years are estimated at:

of respondents (across all ages and genders) consider sustainability when making purchasing decisions

$911M

I N F I N A N C I A L

S A V I N G S

D I D YO U K N O W ?

1.5M

TonsO F C A R B O N

S A V I N G S

10,000

M I C R O T U R B I N E S

S H I P P E D are willing to pay more for sustainable products

		said sustainability is
		at least somewhat
1. 5 MILLION TONS OF CARBON IS COMPARABLE TO THE ANNUAL CO2	important to them
OUTPUT OF ABOUT 291,862
U . S. HOMES RUNNING ON ELECTRICITY		when making a
	purchase
Smarter Energy for a Cleaner Future	NASDAQ: CGRN	4

Capstone Market Trends

Capstone Expanded Product Line-up Addresses On-site Resiliency Concerns from Changing Grid Generation Mix & Customer Sustainability Demands

• Global energy demand continues to rise with the electrification of vehicles and buildings
• Rising share of renewables introduces the need for grid balancing and resiliency
• On-sitedistributed energy resources and natural gas/low-carbon fuels can support these needs
• Battery energy storage is seen as the technology of choice for balancing and arbitrage with a huge market growth forecast
• Combined heat and power (CHP) is a clean technology and reduces emissions vs the grid even out to 2050, especially with greater availability and affordability of renewable/low carbon fuels
• Oil and Gas sector increasingly looking to valorize waste gases vs flaring/venting as gas prices rise and investors/shareholders demand sustainability in the oil field
• Customers want to hear how solutions can adapt to low carbon/zero emission requirements and deliver results for 25+ years

Smarter Energy for a Cleaner Future

NASDAQ: CGRN

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