ECP Environmental Growth Opportunities : Fast Radius Investor Presentation Transcript

Investor Presentation Transcript - FINAL - 07-16-2021

Speakers:

Doug Kimmelman - Chairman of ECP Environmental Growth Opportunities Corp. Tyler Reeder - President & CEO of ECP Environmental Growth Opportunities Corp. Lou Rassey - Co-Founder & Chief Executive Officer of Fast Radius, Inc.

Pat McCusker - Co-Founder, Chief Operating Officer & Interim Chief Financial Officer of Fast Radius, Inc.

Alex Thompson, Gateway Investor Relations

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Operator

Hello everyone, and thank you for participating in today's conference call to discuss the business combination between ECP Environmental Growth Opportunities Corp.and Fast Radius. Joining us today from ECP Environmental Growth Opportunities Corp.are Doug Kimmelman, Chairman and Tyler Reeder, CEO. From Fast Radius, we have Lou Rassey, Co-Founder and CEO and Pat McCusker, Co-Founder, COO and interim CFO. We are also joined by Alex Thompson, Director with Gateway Group. For today's presentation, both ECP Environmental Growth Opportunities Corp.and Fast Radius have made available a slide presentation, which can be found on their respective websites. The presentation was also filed by ECP Environmental Growth Opportunities Corp.with the US Securities and Exchange Commission and can be found on its website at www.sec.gov. Today's call has been prerecorded and will not include a Q&A session. Before we go further, I will turn the call over to Mr. Thompson so he can read the safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements.

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Alex Thompson, Gateway Investor Relations

We would first like to remind everyone that this call will contain certain forward-looking statements including, but not limited to, statements regarding ECP Environmental Growth Opportunities Corp.'s and Fast Radius' expectations or predictions of future financial and business performance and conditions, competitive and industry outlook, and the timing and completion of the business combination.

Forward-looking statements are inherently subject to risks, uncertainties, and assumptions, and they are not guarantees of performance. We encourage you to read the press release issued today, the

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Investor Presentation Transcript - FINAL - 07-16-2021

accompanying presentation, and ECP Environmental Growth Opportunities Corp.'s filings with the SEC for a discussion of the risks that can affect the business combination, ECP Environmental Growth Opportunities Corp.'s and Fast Radius' respective businesses, and the outlook of the combined company after completion of the proposed business combination.

ECP Environmental Growth Opportunities Corp.and Fast Radius are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This conference call is for informational purposes only and will not constitute an offer to buy any securities or a solicitation of any vote in any jurisdiction pursuant to the proposed business combination or otherwise, nor will there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

I'd like to remind everyone that this call will be available for telephone replay, starting later today. A webcast will also be available via the link provided in today's press release, as well as on Fast Radius' and ECP Environmental Growth Opportunities Corp.'swebsites. Now I would like to turn the call over to the Chairman of ECP Environmental Growth Opportunities Corp., Doug Kimmelman. Doug?

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Doug Kimmelman - Chairman of ECP Environmental Growth Opportunities Corp.

Thank you, Alex, and good morning everyone. My name is Doug Kimmelman, and I am the Chairman of ECP Environmental Growth Opportunities Corp., or ENNV for short. I'm pleased to be with you all to discuss our business combination with Fast Radius, which was announced earlier today. Fast Radius is the first-of-its-kind cloud manufacturing and digital supply chain company that exists to advance the manufacturing industry with an integrated digital and physical platform that simplifies the way parts are designed, made, and moved around the world. The combined company will have an estimated post-transaction equity value of $1.4 billion with $445 million in cash proceeds to the company. Before getting into the details and strategic rationale of this transaction, I'd like to provide an overview of who we are at ECP, and why partnering with Fast Radius was the obvious choice for us.

ENNV is a SPAC formed by ECP which was founded in 2005 and is an investor across energy transition, electrification and decarbonization infrastructure assets, including power generation, renewables and storage solutions, environmental infrastructure and efficiency & reliability assets. At the firm, I and

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others on the ENNV team have managed about $22 billion of capital over the past 16 years across four private equity funds, two credit vehicles, a renewable fund and coinvesting vehicles. We are primarily a control investor having executed nearly 60 transactions in these sectors.

Our team has deep experience in the public markets having taken two companies private - Calpine and Energy Solutions - and we have taken five of our private portfolio companies public. Additionally, two of our Directors have been public company CEOs. We are active in the capital markets as we raise around $2 billion per year of debt capital to support our portfolio companies in addition to our equity activities.

Our decision to form our first SPAC was done after much consideration and was really based on three different ideas: one, we continue to see incredible opportunities in the areas we have been investing in for the past 20 years - Electrification and Sustainability. Two, we know that a lot of the companies we look at don't have the type of capital they need most - growth equity. And third, we knew that with our firm's track record over the past two decades, especially in investments on sustainability, we could utilize our strong relationships, reputation and rigorous diligence practices to invest behind a target company that is ready to tap the public markets and well positioned for rapid growth.

From this, we then commenced a rigorous diligence process, evaluating many high-quality businesses. Throughout our evaluation process, we remained steadfast in our commitment to finding a business on par with our PE franchise, one that we have extremely high conviction for and one which possesses a leadership team with the talent and discipline to succeed. After a long diligence process, we were fully confident in our decision to partner with Fast Radius. We believe that the company provides a look into the future with manufacturing in the cloud, and I certainly believe that it scores well on sustainability and energy efficiency measures. It's led by an entrepreneurial, disciplined, and experienced management team that we admire, and in which we have full confidence. Needless to say, we're excited to work together to drive long-term growth and value.

With that I'll now turn it over to Tyler, the current CEO of ENNV, to tell us more about the opportunity. Tyler?

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Tyler Reeder - President & CEO of ECP Environmental Growth Opportunities Corp.

Thanks, Doug. I'm excited to be with you all today, and I will begin by providing more context around our

decision to partner with Fast Radius.

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Investor Presentation Transcript - FINAL - 07-16-2021

Our team at ECP has been at the forefront of investing in electrification and sustainability including many disruptive businesses across the energy transition in North America. As Doug said, ENNV evaluated many different companies, and after extensive due diligence, Fast Radius was the obvious standout. As such, we are thrilled that in conjunction with ENNV partnering with Fast Radius, ECP is also investing in the PIPE transaction.

Fast Radius provides us an incredible opportunity in the areas we have been investing in for over 15 years - Electrification and Sustainability. Fast Radius' one-stop shop design through their software-enabled Cloud Manufacturing PlatformTMnot only positions them in a large, $350 billion plus total addressable market, but it also has tremendous sustainability benefits. Specifically, it will reduce excess material waste that needs to be disposed of through optimized part design and modern manufacturing techniques. It will reduce energy consumption through production efficiency from local on demand micro-factories, as well as bring manufacturing back to the US, which has a less carbon-intensive profile than Asia. Finally, it will reduce transportation emissions through its local on-demandmicro-factory model. Overall, we think that Fast Radius represents the future of sustainable manufacturing and we believe that Fast Radius is a perfect thematic fit with our investment thesis.

Importantly, this is also an established and proven business. We set out to find a business with a commercially-proven model that needed capital to scale up its platform for significant growth, and Fast Radius is exactly that. Fast Radius has been very successful with high-quality customers in a rapidly-growing market. With this strong foundation, Fast Radius already has great traction with many customers with whom there is a tremendous opportunity to grow organically, and there is a strong pipeline for future customers. At its essence, this is a company that solves problems for customers, and ultimately, our planet. As you'll hear from Lou shortly, they have many examples of successfully solving real world, time-sensitive problems for their customers. And, the strategic, committed capital including our forward purchase commitment from Goldman Sachs Asset Management, and additional PIPE Capital from UPS, Palantir, and other institutional investors is just further validation of what Fast Radius is building and how excited their customers and strategic partners are about where the company is headed. With the significant capital being raised from this transaction, Fast Radius will be able to rapidly scale up its already commercially-proven platform and fully fund a business plan to address the very large $350 billion plus addressable market across a wide variety of applications.

I want to come back to Fast Radius' fantastic leadership team before passing it over to Lou. I, Doug, and our entire team at ECP couldn't be more impressed with the vision, passion and leadership of the Fast

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Radius team. Over the past several months, we have completed a deep, private equity-style diligence on this opportunity, and they have answered all of our hard questions and we fully believe this team is ready for the challenges ahead. They've assembled a highly-qualified and capable team of talent across the business, and we're excited about the company's bright future. With that, I'll turn it over to Lou Rassey, co-founder and CEO of Fast Radius. Lou?

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Lou Rassey - Co-Founder & Chief Executive Officer of Fast Radius

Thanks Tyler, and hello everyone. I'm Lou Rassey, one of the four co-founders and the CEO of Fast Radius. Doug and Tyler did a great job of providing an overview of our combination and partnership with ENNV. We're incredibly excited to be partnering together and excited about what lies ahead. To begin, I'll take a few minutes to discuss who we are at Fast Radius, what we do and why we do it.

At Fast Radius, our purpose is to make new things possible to advance the state of the world. We believe in the importance of manufacturing as an industry, not just for the things that it makes - cars, cell phones, satellites - but the things that it makes possible. Manufacturing can make the world more connected, more healthy, more sustainable. As manufacturers, we feed and we power the world with the things that we make. This is important work and now in a digital age, we have new tools to design, make and move products in ways that we could not have imagined even a decade ago.

By way of background, manufacturing is in my DNA. I'm a third-generation manufacturer. I grew up in Detroit in a family of manufacturing professionals. My grandfather started a machine shop that my dad is still running today making precision parts for the auto industry. When I was a kid, I worked there and I would do my homework at a drafting table every day after school, in my dad's office. This work inspired me. Seeing the beauty and the importance of being able to imagine something, design it, and bring it to the world to help people. My passion for manufacturing, engineering and design has only grown over the years.

I'm a mechanical engineer by trade. I worked at Chrysler, and then a joint venture with BMW launching a factory in Brazil for a couple of years. Then I went on to graduate school at MIT where I studied engineering and business and was a Leaders For Manufacturing fellow. After MIT, I was a partner at McKinsey and was there for almost 12 years. I helped lead the global manufacturing practice and what is now the digital manufacturing and Industry 4.0 service offering at the firm. As a part of that work, I led a global effort looking at the future of manufacturing, looking at where it is going and what it means for

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