Capstone Green Energy : Management Presentation - January 2022

Management Presentation

Darren Jamison

President & Chief Executive 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.

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Capstone Overview & Mission

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

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

1 $11.7B addressable market

• Diverse customer base across multiple end markets: Commercial CHP, Renewable Energy, Critical Power Infrastructure, and Oil & Gas
• Our suite of products and services address the growing ESG pressures on our customers

• Positioned for continued and accelerating growth
• • Two years of cost realignment has enabled CGRN to invest in direct sales, sophisticated digital marketing, and improved geographic distribution partners
  • New products and services - RNG, Hydrogen and "Energy as a Service" rental fleet
  • Growing portfolio of green energy technology partnerships

• Compelling business model
• • 50% percentage recurring revenue
  • Rapidly expanding rental fleet
  • Improving visibility and margins with a strengthened balance sheet and approaching EBITDA breakeven

"Improving the Global Climate Through Sustainable Energy as a Service Solutions"

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Aligning With Customers & Stakeholders

Cost & Carbon Savings

Sustainability is driving today's buyer decision-making

To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY21, it saved customers over $219

Total savings over the last three years are estimated at:

$700M

What will they say about your business?

million in annual energy costs and approximately

397,000 tons of carbon.

I N F I N A N C I A L

S A V I N G S

1M Tons

O F C A R B O N

S A V I N G S

According to a Nielsen study(1),

73% of consumers say they would likely change a behavior to reduce their impact on the environment, and that eco-awaremindsets and behavior adaptation has only increased in recent years.

Sustainability also feeds into customer loyalty. Sustainable and ethical business practices are the second-highestreason most consumers return to a brand. This is second only to product quality(2).

A C C O R D I N G T O A C G S 2 0 1 9 S T U D Y :

DID YOU KNOW?

1 MILLION TONS OF CARBON IS COMPARABLE TO THE ANNUAL CO2 OUTPUT OF ABOUT 120,423 U.S. HOMES RUNNING ON ELECTRICITY.

2/3	1/2	70%
of respondents (across	are willing to pay	said sustainability is
all ages and genders)	more for sustainable	at least somewhat
consider sustainability	z	important to them
products
when making		when making a
purchasing decisions		purchase

1. NielsenIQ, "A 'natural' rise in sustainability around the world," January 10, 2019
2. CGS 2019 U.S. Consumer Sustainability Survey

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Comprehensive Clean Energy Solutions

Energy as a

Service

EaaS

As a long-term partner, Capstone and its partners provide 24/7 strategic energy management with factory technicians that handle scheduled and unscheduled maintenance, and constant remote data monitoring.

• New Long-term microturbine rental fleet
• Long-termservice contracts (FPP)
• Service and spare parts

Energy Generation

Technologies

EGT

Energy Generation Technologies include products such as Capstone's microturbine technology that can operate on a wide range of fuels. These products produce high-efficiency CHP and CCHP.

• Capstone Microturbine (65kW-5MW)
• New Hybrid DC Solutions (5kW-50kW)
• New Baker Hughes Turbine (5MW-16MW)

Energy Storage

Solutions

ESS

Capstone works to build a smart energy infrastructure using a custom tailored combination of multiple technologies, energy storage and monitoring software that maximize energy efficiencies, lower emissions and create resilient systems that meet clients' specific needs.

• New Lithium-Ion Batteries
• New Thermal Storage
• New Microgrid Controls

Hydrogen &

Sustainable Products

H2S

Capstone is currently developing a hydrogen version of its products & developing strategic relationships with technology partners. These OEMs will use the Capstone core technology for zero- carbon solutions in concentrated solar & biomass.

• New Hydrogen Blend Microturbines
• New Baker Hughes Hydrogen Turbines

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