The First-of-its Kind

Cloud Manufacturing and

Digital Supply Chain Company

Investor Presentation

July 19, 2021

fastradius.com

Disclaimer and Risk Factors

General.This presentation (this "Presentation") is provided solely for informational purposes and has been prepared to assist interested parties in making their own evaluation with respect to (i) the proposed business combination (the "Transaction") between ECP Environmental Growth Opportunities Corp. ("ENNV") and Fast Radius, Inc. ("Fast Radius") and (ii) ENNV's proposed private offering of public equity (the "PIPE Offering"), and for no other purpose. This Presentation is subject to update, completion, revision, verification and further amendment. None of ENNV, Fast Radius, or their respective affiliates has authorized anyone to provide interested parties with additional or different information. No securities regulatory authority has expressed an opinion about the securities discussed in this Presentation and it is an offense to claim otherwise. The information contained herein does not purport to be all-inclusive or contain all of the information that may be required to make a full analysis of Fast Radius, the Transaction or the PIPE Offering. Viewers of this Presentation should each make their own evaluation of Fast Radius and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. Nothing herein shall be deemed to constitute investment, legal, tax, financial, accounting or other advice, and you should consult with your own attorney, business advisor and tax advisor as to legal, business, tax and other matters related hereto. No representations or warranties, express or implied, are given in, or in respect of, this Presentation. To the fullest extent permitted by law, in no circumstances will ENNV, Fast Radius, or any of their respective subsidiaries, stockholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith.

Confidentiality.The purpose of this Presentation is to provide information to assist in obtaining a general understanding of ENNV, Fast Radius, the Transaction and the PIPE Offering. This information is being distributed to you on a confidential basis. By receiving this information, you and your affiliates agree (1) to maintain the confidentiality of all of the information contained herein, (2) that no portion of this Presentation may be reproduced in whole or in part and that neither this Presentation nor any of its contents may be given or disclosed to any third party without the express written permission of ENNV and Fast Radius, (3) that the information contained herein is subject to the terms of any confidentiality agreement entered into with ENNV and Fast Radius and (4) to use this Presentation for the sole purpose of evaluating the Transaction and the PIPE Offering. Any reproduction or distribution of this Presentation, in whole or in part, or the disclosure of its contents, without the prior written consent of ENNV and Fast Radius is prohibited.

Forward-LookingInformation.This Presentation contains certain forward-looking statements within the meaning of the federal securities laws with respect to the Transaction, including statements regarding the anticipated benefits of the Transaction, the anticipated timing of the Transaction, the future financial condition and performance of Fast Radius and expected financial impacts of the Transaction (including future revenue and pro forma enterprise value), the PIPE Offering, and the platform and markets and expected future growth and market opportunities of Fast Radius. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "scales," "representative of," "valuation," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this Presentation, including but not limited to: (i) the risk that the Transaction may not be completed in a timely manner or at all, which may adversely affect the price of ENNV's securities, (ii) the risk that the Transaction may not be completed by ENNV's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by ENNV, (iii) the failure to satisfy the conditions to the consummation of the Transaction, including the requisite approvals of ENNV's and Fast Radius' stockholders, the satisfaction of the minimum trust account amount following any redemptions by ENNV's public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the Transaction, (v) the risk that the PIPE Offering is not completed, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement relating to the Transaction, (vii) the effect of the announcement or pendency of the Transaction on Fast Radius' business or employee relationships, operating results and business generally, (viii) the risk that the Transaction disrupts current plans and operations of Fast Radius, (ix) the risk of difficulties in retaining employees of Fast Radius as a result of the Transaction, (x) the outcome of any legal proceedings that may be instituted against Fast Radius or against ENNV related to the merger agreement or the Transaction, (xi) the ability to maintain the listing of ENNV's securities on a national securities exchange, (xii) changes in the competitive industries in which Fast Radius operates, variations in operating performance across competitors, changes in laws and regulations affecting Fast Radius' business and changes in the combined capital structure, (xiii) the ability to implement business plans, forecasts, and other expectations after the completion of the Transaction, and the ability to identify and realize additional opportunities, (xiv) risks related to the uncertainty of Fast Radius' projected financial information, (xv) risks related to Fast Radius' potential inability to become profitable and generate cash, (xvi) current and future conditions in the global economy, including as a result of the impact of the COVID-19 pandemic, (xvii) the risk that demand for Fast Radius' cloud manufacturing technology does not grow as expected, (xviii) the ability of Fast Radius to retain existing customers and attract new customers, (xix) the potential inability of Fast Radius to manage growth effectively, (xx) the potential inability of Fast Radius to increase its cloud manufacturing capacity or to achieve

efficiencies regarding its cloud manufacturing process or other costs, (xxi) the enforceability of Fast Radius' intellectual property rights, including its copyrights, patents, trademarks and trade secrets, and the potential infringement on the

intellectual property rights of others, (xxii) Fast Radius' dependence on senior management and other key employees, (xxiii) the risk of downturns and a changing regulatory landscape in the highly competitive industry in which Fast Radius operates, and (xxiv) costs related to the Transaction and the failure to realize anticipated benefits of the Transaction or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties which will be more fully described in the "Risk Factors" section of the proxy statement / [consent solicitation statement /] prospectus discussed below and other documents filed by ENNV from time to time with the Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Fast Radius and ENNV assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Fast Radius nor ENNV gives any assurance that either Fast Radius or ENNV, or the combined company, will achieve its expectations.

No Offer or Solicitation.This Presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of the U.S. Securities Act of 1933, as amended.

2

Disclaimer and Risk Factors (cont'd)

Use of Projections.This Presentation contains financial forecasts with respect to Fast Radius' projected gross revenue, cost of goods sold, operating expenses, gross profit, EBITDA and Free Cash Flow for 2021, 2022, 2023, 2024 and 2025. The financial and operation forecasts and projections contained herein represent certain estimates of Fast Radius as of the date hereof and are included herein for illustrative purposes only. Neither ENNV's independent auditors nor Fast Radius' independent public accountants have audited, examined, reviewed or compiled the forecasts or projections and, accordingly, do not express an opinion or other form of assurance with respect thereto. These projections should not be relied upon as being necessarily indicative of future results. In this Presentation, certain of the above-mentioned projected information has been repeated (in each case, with an indication that the information is an estimate and is subject to the qualifications presented herein) for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of ENNV, Fast Radius, or the combined company after completion of the Transaction, or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this Presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. The "pro forma" financial data included herein have not been prepared in accordance with Article 11 of Regulation S-X of the SEC, are presented for informational purposes only and may differ materially from the Regulation S-X compliant pro forma financial statements of Fast Radius for the year ended December 31, 2020 to be included in ENNV's proxy statement in connection with the Transaction (when available).

Financial Information; Use ofNon-GAAPFinancial Measures.The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X. Such information and data may not be included in, may be adjusted in or may be presented differently in the Registration Statement to be filed relating to the Transaction and the proxy statement / [consent solicitation statement /] prospectus contained therein. This Presentation includes certain financial measures that have not been prepared in accordance with generally accepted accounting principles in the United States ("GAAP"), including EBITDA and Free Cash Flow. EBITDA is defined as net income (loss) plus interest expense, net, provision for income taxes plus depreciation and amortization, net. Free Cash Flow is defined as EBITDA minus acquisitions and capital expenditures. Except as otherwise noted, all references herein to full-year periods refer to Fast Radius' fiscal year, which ends on December 31. These non-GAAP measures are an addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of Fast Radius' liquidity. Not all of the information necessary for a quantitative reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is available without unreasonable efforts at this time, but see slide 70 for more details regarding EBITDA and Free Cash Flow, including the reconciliation of these measures to the nearest comparable GAAP measures. Fast Radius believes that these actual and forward-lookingnon-GAAP measures of financial results provide useful supplemental information about Fast Radius. Fast Radius' management uses these forward-lookingnon-GAAP measures to evaluate Fast Radius' projected financial and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore Fast Radius' non-GAAP measures may not be directly comparable to similarly titled measures of other companies. You should review Fast Radius' audited financial statements, which will be included in the Registration Statement.

Industry And Market Data.This Presentation has been prepared by ENNV and Fast Radius and includes market data and other statistical information from third-party sources. Although ENNV and Fast Radius believe these third-party sources are reliable as of their respective dates, none of ENNV, Fast Radius, or any of their respective affiliates has independently verified the accuracy or completeness of this information and cannot guaranty its accuracy and completeness. Some data is also based on good faith estimates of ENNV and Fast Radius, which are derived from both internal sources and the third-party sources described above. None of ENNV, Fast Radius, their respective affiliates, nor their respective directors, officers, employees, members, partners, stockholders or agents make any representation or warranty with respect to the accuracy of such information.

Additional Information and Where to Find It.This Presentation relates to the Transaction. ENNV intends to file a registration statement relating to the Transaction with the SEC (the "Registration Statement"), which will include a proxy statement / [consent solicitation statement /] prospectus that will be sent to all ENNV [and Fast Radius] stockholders. ENNV will also file other documents regarding the Transaction with the SEC. Before making any voting decision, investors and security holders of ENNV and Fast Radius are urged to read the proxy statement / [consent solicitation statement /] prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the Transaction as they become available because they will contain important information about the Transaction. Investors and security holders will be able to obtain free copies of the Registration Statement, the proxy statement / [consent solicitation statement /] prospectus, and all other relevant documents filed or that will be filed with the SEC by ENNV through the website maintained by the SEC at www.sec.gov. The documents filed by ENNV with the SEC also may be obtained free of charge upon written request to ENNV at 40 Beechwood Road, Summit, New Jersey 07901.

Participants in Solicitation.ENNV, Fast Radius and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from ENNV's stockholders in connection with the Transaction. A list of the names of such directors and executive officers and information regarding their interests in the Transaction will be contained in the proxy statement / [consent solicitation statement /] prospectus when available. You can find more information about ENNV's directors and executive officers in the final prospectus relating to ENNV's initial public offering, which ENNV filed with the SEC on February 10, 2021. You may obtain free copies of these documents as described in the preceding paragraph.

Trademarks and Intellectual Property.All trademarks, service marks, and trade names of Fast Radius or ENNV or their respective affiliates used herein are trademarks, service marks, or registered trade names of Fast Radius or ENNV, respectively, as noted herein. Any other product, company names, or logos mentioned herein are the trademarks and/or intellectual property of their respective owners, and their use is not alone intended to, and does not alone imply, a relationship with Fast Radius or ENNV, or an endorsement or sponsorship by or of Fast Radius or ENNV. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that Fast Radius, ENNV or the applicable rights owner will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names.

3

Executive Summary

Today's presenters and transaction highlights

FAST RADIUS, INC

ECP ENVIRONMENTAL GROWTH

OPPORTUNITIES ("ENNV")

Lou Rassey

Doug Kimmelman

CEO, CO-FOUNDER,

CHAIRMAN

& DIRECTOR

Pat McCusker

Tyler Reeder

CFO/COO

PRESIDENT,

& CO-FOUNDER

CEO & DIRECTOR

  1. Pro forma for the transaction and assuming a $10 per share price.
  2. Assumes no redemptions by ECP Environmental Growth Opportunities Corp.'s existing shareholders and transaction expenses of approximately $35M. See slide 55 "Detailed transaction overview" for key assumptions and additional details.
  3. UPS is an existing investor and currently holds a seat on the Board of Directors of Fast Radius, Inc.

TRANSACTION HIGLIGHTS:

Business combination of Fast Radius with ENNV

  • ENNV has identified Fast Radius as a unique and compelling opportunity to invest behind the Industry 4.0mega-trends.
  • Fast Radius a category creator with a proprietary and defensible Cloud Manufacturing Platformthat will enable sustainable ways of making, storing and moving parts.
  • Fast Radius iswell-aligned with ENNV's investment thesis.

Transaction

ECP (NYSE: ENNV) is a publicly listed special purpose

structure

acquisition company with $345m cash held in trust.

$100 million fully committed PIPE, including a $25 million

forward purchase commitment from Goldman Sachs Asset

Management, L.P. Other investors in the PIPE include UPS(3),

ECP, and Palantir.

Valuation

$995M pro forma enterprise value(1)with a strong balance

sheet.

Implied 1.6x 2025E revenue of $635M offers an attractive

valuation for a high growth business.

Capital

Post-transaction, ~$410M cash on balance sheet(1)enables

structure

significant optionality to enhance growth, profitability and

diversification.

Fully funded to expected positive free cash flow and

profitability in 2025.

Ownership

Existing Fast Radius shareholders will be rolling 100% of

their equity and will own ~63% of the combined company

at closing.(2)

Executive Summary

ECP's founders' long history of investing

  • Chairman / Officers of ENNV have >100 years of experience in disruptive technologies
  • Shifting industry tailwinds moving business interactions closer to the customer, from electricity to manufacturing and beyond
  • Focus on assets with asustainability-linked footprint
  • Increasing digitalization of traditional industries

$20B+ COMMITTED CAPITAL

60+ TRANSACTIONS CONSUMMATED

~$2B+ INVESTED IN SUSTAINABLE

MANAGEMENT TEAM HAS HELD

SINCE 2005

OVER LAST 10 YEARS

TECHNOLOGY & SERVICES

5 CUMULATIVE PUBLIC COMPANY BOARD SEATS

Attachments

  • Original document
  • Permalink

Disclaimer

ECP Environmental Growth Opportunities Corp. published this content on 18 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2021 12:32:09 UTC.