March2018

GlobalLeadershipinDecentralizedWaterSolutions

2

Summary

• Growing global water scarcity, contamination – Cape Town, Flint Michigan, Middle East, China, India

• Decentralized solutions deploy faster, cheaper – US$22B market by 2021• Fluence is leading global player focused on this market with complete suite of

solutions• Targeting US$15B China rural opportunity, global desalination, wastewater to

energy markets• Proven management team and Board – systems installed in 70 countries• Guiding $105-115M in 2018 revenues, 80-100% up on 2017• $95M in backlog entering 2018 - $75M of this due in 2018 revenue• Guiding $22-25M gross margin in 2018, EBITDA positive during 2019• $33M in cash at end of 2017, under $2M in debt

MarketOpportunity

4

GrowingGlobalWaterCrisisNow

Watershortagesaffect2.7Bnow

2.4Blackproperwastewatertreatmentnow

Anadditionalpopulationof2.1Bneedupgradedtreatment

Populationgrowthfrom7.4Bin2016to9.1Bin2050

60%increaseinglobalfoodproductionby2050

Manufacturingwaterdemandwillgrow400%by2050

Globalwaterconsumptiontodoubleby2050

Resultsin40%waterdeficitby2030

By 2025,two-thirdsoftheworldwillfacewatershortages

Sources:WWF,WaterScarcity,2014;USGeologicalSurvey,2015;UNWorldWaterDevelopmentReport,2017;WaterforFood,UNCTAD, 2011.

UrgentNeedForAffordable,

Fast-to-DeploySolutions

5

Today’sLargeCentralizedSolutionsDoNotAddresstheGrowingDemand

• Largecentralizedplants:CapEx andOpExinefficient,demandsmassivein-groundinfrastructure– toocostly

• Developedworld:Rustingpipesandgrowingcommunitiesdrivepipereplacement:$1M– $10M+/km,pluspumpingandstorage

• Verycostlytoupgrade:Fixingandupgradingwaterinfrastructureestimatedtocost$1trillion+- notviable

Source:GlobalWaterIntelligence,GlobalWaterMarket2017Volume1

6

DecentralizedPackagedTreatmentPlants:TheSolutionForGlobalWaterNeeds

• SmartPackagedPlantsprovideacosteffective‘plugandplay’solution,avoidinginefficientinfrastructureprojectsspanningyearsandcostinghundredsofmillions

• SmartPackagedPlantsenableremotemonitoringandoperation,substantiallyreducingOpEx

• PointofUseDecentralizedPlantsrequireshortandlimitedin-groundinfrastructure, saving25%CapEx &40%OpEx fornewinstall&upgrades

• Localizedwatertreatmentandreuseavoidsneedforlargeinstalledbasetotransportsourcewaterandreturningtreatedwater,reduceswaterandenergydemand

• Multipledecentralizedplantshelpmitigateman-madeornaturaldisasters

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TargetMarketsGrowingRapidly

5.5 5.1

2.7

9.18.4

4.4

MunicipalWastewater

IndustrialWastewater

Drinkingwater

2016 2021

Sources:MarketsandMarketsAnalysis,GlobalWaterIntelligence,companyestimates

$83BinPlannedCapExDesalinationandReuseplants

(2017to2022)

SmartPackagedPlants:Globalmarketgrowingfrom

$13.3Bto$21.8B (2016to2021)

China&Taiwan$29.9B(36%)

MiddleEast&Africa

$28.6B(34%)

USA$15.6B(19%)

EU/CAsia$9.1B(11%)

$Billion

s

Positioning

9

AGlobalLeaderinFast-To-DeployDecentralized TreatmentSolutions

SalesreachinUS,China,LatinAmerica,

Africa,Europe

Diversifiesrevenuesourceswhileincreasing

opportunities

Globaloperations,incl.manufacturinginIsrael,Argentina,USA,ItalyandChina

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AnEstablishedGlobalPlayerwithDifferentiatedProductsServingGrowingMarkets

$700Bglobalwatermarket– tighterrules,

urgentneeds

Onlyglobal,pureplaywater&wastewatertreatmentcompany

Targetingfastestgrowingsegments

Provensolutionsofferbest-in-classperformance

MABRrampstartinginChina FirstSUBREcontractwon Globalteamof330+

expertsStrongbalancesheetto

executeplan

Result:SustainedRevenueandMarginGrowth,IncreasingRecurringRevenue

11

WellPositionedforHugeChinaOpportunity

China’s13th 5yearplanprovidesUS$15Billion

fundingforruralwastewatertreatment

FluenceMABRuniquelyqualifiedforthismarket

Fluencehasestablishedmultiplechannel

partnershipsinChina

ShipmentofCommercialPackagedPlantshas

commenced

Local supplyofflagshipMABRproductfromourplantinChangzhou

StrongPipelineofC-MABRWastewaterTreatmentFirstcommercialcontractsthroughstrategicchannelpartnersinHenan&Guizhou Provincesannouncedin

November2017

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AnticipatedChinaRevenueRamp

• 2016– Securedinitialpartnerships:4

• 2017– Deployedandproved6demoplants,closedcontractsforinitial2commercialplants– 36MABRunits

• 2018– Bookandshipincreasingcommercialcontractsvia15partners

• 2019– Anticipatedsubstantialstepupfrom2018revenues

• Totalmarketestimatestill$15B,actualramppointhardtoproject

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PositioningforGrowingOpportunitiesinUSA

DemoPlantatCodiga ResourceRecoveryCenter (CR2C)atStanfordUniversity• CommissionedinJanuary2018toallowforobservationandtestingofcompliancewithCalifornia’s

strictTitle22reusestandards• Servesasreferencesiteforpotentialclients,whocanseeaC-MABRunitinoperation

• Keyapplications:wastewatertreatment,nitrification/denitrification,phosphorousremoval,reuse

NorthAmericaPWWTMarketalready$2.8Bin2016,expectedtoreach$4.1Bby2021*

*Source:MarketsandMarkets Analysis

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HistoricalandExistingCustomersandPartners

LargeDiversifiedClientBase

Fluencefocusesondecentralized,packagedwaterandwastewatertreatmentsolutionsforcustomersacrosstheindustrial,commercialandmunicipalsectors

15

CriticalSuccessFactor:GrowingGrossMargin

IncreasingGrossMargin

LargeProject

SmartPackagedPlant

ProprietarySmartPackaged

Plant

ProprietaryProduct

$100MAfricaProject(MoUsigned)

NIROBOX™ SmartPackagedMABR

SUBREExample:

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WhySmartPackagedPlantsWin:CaseStudy

“SouthAfrica’sfirstmobiledesalinationplant”GlobalWaterIntelligence

Deployin1/3ofthetime,at37%lowercost,capturesmorevalue

TypicalCustomDesalinationPlant

û Longtimetocomplete(18+mos)û Highcapexû Fixedsite,hardtoupgrade

FluenceDesalinationPlant

ü One-thirdofconstructiontimeü Capex=37%lessü Easytoupgradeasrequiredü Easytorelocate– mobileü Lowerenergyuse

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SmartPackagedNIROBOX™ PlantsDeliverWaterFast

• NIROBOX™ isafieldprovensolutionthataddressesthemidmarket

• Shortertime-to-water theidealsolutionfordroughtstrickenareas

• Lower InitialCapEx

• Modular andScalable approachthatcansuitanysiterequirements,enablingfastdelivery,integration,commissioningandoperation.

Thegrowingdemandforpotablewaterduetoclimatechangerequirefastdeploymentofrobust,reliable

waterdesalinationsolutions

Large,tailormadedesalinationplantsrequirelongdevelopment

time- environmental,site,interconnectionandfinancing

AdvancedTechnology:o Highavailabilityo LowerOpEx costso Onlinemonitoringforimprovedefficiency

NIROBOX™ Familyofpre-engineeredwatertreatmentsolutions,fullyassembledinastandard40ftcontainer,readyforrapiddeploymentandoperation

NIROBOXSW NIROBOXBW NIROBOXFW

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SmartPackagedPlantsdriveRapidSalesGrowth

*projected

Projected2xyear-on-year

growth

NiroboxSmartPackagedPlant

• Containerizedmobiledesalinationplantforeasydeploymentglobally

• Winscontractsbysavingenergy,cost,timetodeployment

• Highergrossmargins• Introducedin2015withimmediatemarketadoption

2

10

25

40

2015 2016 2017 2018

Nirobox™SalesRamp

UnitsSold

*

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SmartPackagedMABRPlantsEnableFastestPathToRevenue

MABRSmartPackagedPlant

• Containerized,mobile,lowenergydistributedwastewaterplant• ThekeytocapturealargeportionofthevastChinesemarket• Captures2xrevenue,40%highergrossmarginversussellingonlyMABR• Locallymadeplants=fastertimetorevenue• Introducedin2017targetingChinaandglobalmarkets

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SUBRE(SubmergedMABR)OpensLargeNewMarket

SUBRE

• SubmergedMABRupgradescentralizedplantcapacity,efficiencyandcompliancewithoutchemicals

• AverageFluence revenues$4.5M/plant,thousandsofplantsneedupgrading

• Highmargins• Firstfull-scaleSUBREcontractsecured

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Proven IndustrialWaste-to-EnergySolutions

Onsiteproductionofenergyreduceselectricityandgasconsumption

High-quality,treatedeffluentsmeetthemoststringentrequirements

Reductionofsludgevolumebyupto90%,significantlyreduceslandfillwaste

Outputcanbeusedasafertilizer

Reducesgreenhouse-gasemissions

Dominantinlocalmarketsectors,100%reliable,lowoperationandmaintenancerequirements

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CompellingGLOBALPosition=DiversifiedRevenue

Product Market CompetitiveAdvantage ProofPoints

Smart PackagedMABR

Decentralizedwastewater:$9.1Bin2021+$15BinChina

Upto90%lessenergy, halvesOpEx,fasttimetomarket

PlantsinUSVI(USEPAcertified), 5inChina,1inEthiopia,2inIsrael

SUBRE Thousands of plants,$2B+/year

Avoidstoxicchemicals,bigenergy saving,improvesnitrogenremoval

Full-scalefieldtestingandfirstcontractnow- low-risk,asbasedonprovenMABRtechnology

SmartPackagedPlant– Purification(Nirobox,Ecobox)

Decentralizedwaterplants:$4.4Bin2021Solves emergencies

Deployin6months,versus18-24monthsLowerCapEx,OpEx,footprintMobile

PlantsgloballyincludingAfrica,LatinAmerica,Cyprus

Waste-to-Energy Industrialmarket$8.4Bin2021

Provenexpertise anddominantinlocalmarket

DominantinItalian sectorsDealwithtopinternationalprocessors

Large EPCProjects Multi-billion market Globalplayer,activein70countries

Africanproject($100M+),MexicanBOT,Cyprus,Colombia

BOT/RecurringRevenue

Waterandwastewatertreatment

Ownsourceoffinancing; expertatmanagingrisk

SanQuintin,$44MCapEx +30year O&M

Sources:MarketsandMarketsAnalysis,GlobalWaterIntelligence,companyestimates

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CompanyProductsSatisfyGlobalGeographies

Geography FluenceTrackRecord NextSteps

China

Newentrant: 9ruralwastewatertreatmentpartners

5workingplants(Wuxicompleted)Firstcommercialordersshipping

RampMABR winsSellSUBREforeasyplantupgradeWaterpurificationanddesalination

Waste-to-energyRiverremediation

NorthAmerica Pioneerinpackagedwastewatertreatment(TiptonPWWTP,asRWLWater) Migrate toMABRandSUBREsales

LatinAmerica

Dominantproviderofwaterpurification toCocaCola

RecycleOil&GasproducedwaterDesalinationandwaste-to-energyinstallations

AddMABRandSUBREsalesContinuetorampwaste-to-energy

Africa&MiddleEast Desalinationandwaterpurification plants Keep rampingNiroboxsales

AddMABR,SUBRE

Europe Leading waste-to-energyplayer AddMABR,SUBREinEU;globalizewaste-to-energysuccess

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Guidance:MetricstoTrackSuccess

• $95Mentering2018ofwhich$75Manticipatedin2018BacklogAtJan1,2018

• $105- 115M(~2x2017)Revenuefor2018

• $22- 25MGrossmarginfor2018

• IncreasingBOTprojectsviaoff-balancesheetfinanceRecurringrevenue

• SUBREfirstcontractsuccess,generalintrobyQ22018Newproducts

• Stilltargetingatleastoneprofitablequarterin2019Profitability

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KEY CONTACTS

RichardIrvingExecutiveChairman

+14083829790rirving@fluencecorp.com

HenryCharrabéManagingDirector&CEO

+12125723766hcharrabe@fluencecorp.com

KeyContacts

GaryDvorchakTheBlueshirt Group

+13232405796+8613810791480

gary@blueshirtgroup.com

RonnBechlerMarketEye

+61400009774Ronn.Bechler@marketeye.com.au

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Disclaimer

This presentation has been prepared by Fluence Corporation Limited (ASX: FLC). All currencies quoted as “$” are US$ unless otherwise specified.

This presentation may contain forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of past and present economic and operatingconditions, and on a number of assumptions regarding future events and actions that, as at the date of this presentation, are expected to take place. Suchforward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other importantfactors many of which are beyond the control of the Company, its Directors and management. Although the Company believes that the expectations reflected inand the assumptions underlying the forward looking statements included in this presentation are reasonable, readers are cautioned not to place undue relianceon them, as the Company cannot give any assurance that the results, performance or achievements covered by the forward-looking statements will actuallyoccur.

This presentation should not be considered as an offer or invitation to subscribe for or purchase any shares in FLC or as an inducement to make an offer orinvitation to subscribe for or purchase any shares in FLC. No agreement to subscribe for securities in the FLC will be entered into on the basis of this presentationor any information, opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document orother offering document under Australian law or under the law of any other jurisdiction. It has been prepared for information purposes only and does notconstitute an offer or invitation to apply for any securities, including in any jurisdiction where, or to any person to whom, such an offer or invitation would beunlawful.

To the maximum extent permitted by law, the Company and its professional advisors and their related bodies corporate, affiliates and each of their respectivedirectors, officers, management, employees, advisers and agents and any other person involved in the preparation of this presentation disclaim all liability andresponsibility (including without limitation and liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be sufferedthrough use of or reliance on anything contained in, or omitted from, this presentation. Neither the Company nor its advisors have any responsibility orobligation to update this presentation or inform the reader of any matter arising or coming to their notice after the date of this presentation document whichmay affect any matter referred to in the presentation. Readers should make their own independent assessment of the information and take their ownindependent professional advice in relation to the information and any proposed action to be taken on the basis of the information.

Appendix

28

CorporateOverview

CapitalStructureasat31January2018ASX:FLC

OrdinarySharesonIssue 415M

Optionsonissue 46M

SharePrice A$0.50

UndilutedMarketCapitalization A$208M

CurrentCash(31/12/2017) US$33M

Externaldebt(except non-recourseprojectdebt) <US$2M

Liquidity(avg.sharestradedperdayforlast12months)

570,559

BoardofDirectorsRichardIrving– ExecutiveChairmanHenryCharrabé– ManagingDirector&CEOPeterMarks– Non-ExecutiveDirectorRobertWale– Non-ExecutiveDirectorArnonGoldfarb– Non-ExecutiveDirectorRossHaghighat– Non-ExecutiveDirectorDr.RengarajanRamesh– Non-ExecutiveDirectorRossKennedy– BoardAdvisor&CompanySecretary

ExecutiveManagementTeamHenryCharrabé– ManagingDirector&CEOPhilippeLaval– ChiefOperatingOfficerRobertWowk– ChiefFinancialOfficerSpencerSmith – ChiefLegalOfficerRonenShechter– ChiefTechnologyOfficerIlanWilf– GlobalVPSalesYaronBar-Tal– GlobalVPProductDevelopment

TopHoldersASX:FLC Shares(M) %ofFLC

RSLInvestments 110.9 26.7

PondVentures 36.3 8.7

ESOPManagementTrust 24.8 6.0

PlanBVentures 20.0 4.8

CapitalGroup 14.8 3.6

Othertop20 99.4 23.9

Top20total 306.2 73.7

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LeadershipTeam

World-ClassBoard&Leadership

• FormerCEORWLWater

• FormerCOORWLWater

• 27yearsenvironmentaloperatingexperience

• 35yearstech/VCexperience

• US$3Bvaluecreated

HenryJ.CharrabéManagingDirector&CEO

PhilippeLavalCOO

BobWowkCFO

RonenSchechterCTO

• Co-FounderEmefcy

• 25yearsfinanceexperience

BoardofDirectors

RichardIrvingExecutiveChairman

• FormerCTOGEWater

RengarajanRameshNon-executiveDirector

• 30yearstech/VCexperience

• US$4Bvaluecreated

RossHaghighatNon-executiveDirector

HenryJ.CharrabéManagingDirector&CEO

• 30+yearscapitalmarketsexperience

PeterMarksNon-executiveDirector

• 30+yearswaterindustryexperience

RobertWaleNon-executiveDirector

• 30+yearsindustrialexperience

ArnonGoldfarbNon-executiveDirector

30

HowMABRWorks

3.Blood(withoxygen)flowsout

1.Airbreathedin

2.Oxygendissolvednaturallyintobloodthroughlungmaterial

MABR- InspiredbyNature

1.Airpassesthrough

2.Oxygendissolvesnaturallyintowastewaterthroughmembrane

3.Wastewaterpicksupoxygentodigestwaste

O2

Semi-permeablemembrane

Biofilm