Fluence : Q1 2022 Update Presentation

www.fluencecorp.com

Q1 2022 Update

Fluence Corporation (ASX:FLC)

28 April 2022

Q1 2022 Highlights

All numbers are unaudited and refer to continuing operations

• • Q1 Revenues: $34.5M - Up 116% on Q1 2021

• • SPS revenues: $7.3M - Up 78% on Q1 2021

• • Nearly 90% of Q1 SPS revenues from outside China including US, Latin America and Middle East

• • CES revenues: $25.3M - Up 141% on Q1 2021, mainly from the Ivory Coast project

• • Cost Efficiency Improvement - Q1 2022 fixed expenses of $6.7M (19% of revenues) versus $6.4M (40% of revenues) in Q1 2021

• • Contracted backlog: $99.3M of which $75M anticipated to become revenue in 2022

• • Cash Balance of $31.1M down from $41.4M at end of 2021 but up from $14.9M at the end of Q1 2021 - Operating cashflow negative $10.4M as expected due to paying vendors with some of the funds already received in Q4 2021.

All numbers in presentation are USD unless otherwise stated.

Revenue Growth1

$34.5M

Q1 2021

Smart Product Solutions (SPS)Recurring Revenue (RR)

Q1 2022

Custom Engineered Solutions (CES)

FY 2022 Guidance

All numbers are unaudited and refer to continuing operations

• • Full year revenue outlook is $144M, up 40% from $103.2M in 2021

• • $109.4M or 76% of revenue outlook covered by backlog plus Q1 revenues

• • SPS revenues continue to be forecast at $45M, up 22% from $36.9M in 2021

• • Full year underlying EBITDA1 continues to be forecast at $3M up from $1M in 2021

1 Underlying EBITDA = Statutory EBITDA excluding one-off items All numbers in presentation are USD unless otherwise stated.

Fluence: Fast To Deploy, Profitable Water Solutions

Revenue Mix Has Shifted To SPS ex-Ivory Coast

2017*

3%

2021 excl Ivory Coast

Smart Products Solutions (SPS)Recurring Revenue (RR)Custom Engineered Solutions * 12 months pro-forma

Strategic Focus

• ▪ Sell MABR in China and SE Asia

  Future Target

• ▪ Sell Nirobox in Middle East and SE Asia

• ▪ Seek more recurring revenue via water as a service in US and Caribbean

• ▪ Timely execution of Ivory Coast project

• ▪ Improve operating efficiencies

Transition To Higher Margin Revenue

Illustrative

Large Projects

Smart Products SolutionsProprietary Smart Products

SolutionsProprietary

Smart ProductsRecurring Revenue

Examples:

~$190M Ivory Coast

Project

NIROBOX™

Aspiral™

SUBREBOOT, O&M

• ✓ Only global, pure play water and wastewater treatment company delivering standardized solutions to a growing, global, decentralised market

• ✓ Fast to deploy, lower cost, lower risk way to meet tightening regulatory standards

• ✓ Maximize profitable growth by targeting highest growth markets

• ✓ Strong team and balance sheet

Increasing

Gross Margin

Leading ESG Impact in Water Treatment

Committed to UN SDGs

Sustainability Impact from Fluence's Installations

➢ Fluence technologies are highly energy efficient (MABR, desalination) and lower CO2 and other harmful contaminants

➢ Many wastewater treatment technologies emit Nitrous Oxide (N2O): 300x worse than CO2 - Fluence MABR emits nitrogen: installed systems currently save 314 tons/year of N2O emissions, equivalent to 93,600 tons of CO2

➢ A decentralized approach using Fluence MABR to solve the world's wastewater needs would result in increased access to clean water and wastewater → Potential annual energy savings of 2 TWh, equivalent to 150 million tons CO2

➢ Fluence is committed to ESG and delivers on 9 of the 17 UN SDGs

Source: EPA, research, Company analysis.

MABR & NIROBOX

32 GWh / year

in energy savings compared to conventional technologies Equivalent to 23,100 Tons CO2 / year

Reuse

17Bn Liters Water Recycled / year

Water

158Bn Liters Drinking Water Produced / year

Wastewater

253Bn Liters Wastewater Treated / year

✓ MABR installations remove >2,100 tons of nutrient pollution/year ✓ Lowers Nitrous Oxide emissions by 314 tons/year