European Sustainable Growth Acquisition : Investor Letter

ads-tecEnergy plc, 10 Earlsfort Terrace, D02 T380 Dublin 2, Ireland

To whom it may concern

Date

1st Feb. 2022

Investor Update: Power…Everywhere

Dear Investor:

Although the market for SPACs was very difficult in 2021, we were able to complete our business combination with European Sustainable Growth Acquisition Corp. (EUSG) because of your investment and support. We thank you for that and commit our best efforts, using the funding now available to the company, to achieve substantial growth in the markets of decentralized and intelligent energy systems. With this we support the transition to a CO2 neutral and all electric world by empowering the future power companies with best technology and services. Especially, but not only, in what continues to be a very exciting EV and EV charging market opportunity.

Our focus has been on ramping up both our European and North American Sales and Marketing teams and we have made good progress. As you know, we are not an operator of charging networks, nor one of the new energy companies, but rather a supplier of equipment, software, and services in support of Operators, car OEMs, utilities, and all kinds of future power companies.

No doubt, the EV-market will have exponential growth and the lack of infrastructure must be covered everywhere. Over the past 6 months we have established our economic value proposition and differentiation from common charging equipment suppliers, resulting in a third-party report which demonstrates a 30% lower total cost of ownership of our ChargeBox DC charger over non-battery buffered Ultrafast DC chargers. Reduced permitting time, installation time, and lower installation cost coupled with the avoidance of peak power demand charges yields this significant advantage.

We have now incorporated the details of that advantage in our latest investor presentation which is attached to this letter. I was able to present this at a recent Carnegie International Bank investor conference which was well received. In addition, we continue to be invited by mainstream business media outlets to discuss our differentiated offering. We were recently profiled in Barron's, and I participated in a live television interview on CNBC's Squawk Box Europe, among other outlets.

We are in the process of further developing our Investor Relations activities to broaden our reach in the financial markets and to support your needs for information and updates. In the meantime, be watching for an additional letter from us regarding next steps for registration of shares. Should you wish to speak with us, please feel free to contact us at [e-mail] and subscribe to our newsletter.

We wish you a happy, healthy, and prosperous 2022!

Thomas Speidel

CEO ADS-TEC Energy

ads-tec Energy plc	Tel.: +49	7022 2522-0	CEO & Director: Thomas Speidel (GER)	CRN: 700539
10 Earlsfort Terrace	Fax: +49	7022 2522-400	Chairman: Prof. Dr. Kurt Joachim Lauk (GER)
D02 T380 Dublin 2	www.adstec-energy.com	Directors: Joseph Brancato (USA), Bazmi Husain (IND),
Ireland	[e-mail]	K.R. Kent (USA), Salina Love (USA)