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1 CONFIDENTIAL AND PROPRIETARY | Proterra – Solving the Issue of Range for Heavy Duty EVs Presentation to the SELECT 2016 Annual Meeting & Technology Showcase

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  • 1CONFIDENTIAL AND PROPRIETARY |

    Proterra – Solving the Issue of Range for Heavy Duty EVs

    Presentation tothe SELECT 2016 Annual Meeting &

    Technology Showcase

  • 2CONFIDENTIAL AND PROPRIETARY |

    ABOUT PROTERRA

    Solid Financial Backing

    • Founded in 2004• Offices and manufacturing in CA and SC• 200+ employees, strong executive management team• Backed by industry-leading VC and corporate investors• 35 customers; 312 orders• >73 vehicles delivered; >2,500,000 service miles• >9,800,000 pounds of CO2 emissions avoided

    Strong Executive Team

    Proterra’s Mission: Advancing electric vehicle technology to deliver the world’s best-performing transit vehicles

  • 3CONFIDENTIAL AND PROPRIETARY |

    OUR CUSTOMERS

    188 announced orders from 22 customersAdditional 124 orders from 13 customers not yet announced

  • 4CONFIDENTIAL AND PROPRIETARY |

    OUR VISION: CLEAN QUIET TRANSPORTATION FOR ALL

    At Proterra, we believe that zero-emission electric vehicles are the smart choice for

    heavy-duty transit operations.

    We hope you’ll agree.

    Together, we can eliminate the need for fossil fuels in urban

    transit.

    Economics – Best TCO, lowest operating costs, least volatility

    Customer Preferences – Clean, quiet, safe, modern

    Performance – Highest MPGe, lowest weight, most torque

    Policy/Regulation – Local health, air quality, climate change

  • 5CONFIDENTIAL AND PROPRIETARY |

    ELECTRIC TRANSIT VEHICLES OUTPERFORM FOSSIL-FUELED VEHICLES

    243

    158

    208

    0

    D DH CNG Pro

    CLEANTailpipe Emissions

    Annual lbs CO2 (000’s)

    100+%

    $378

    $302 $294

    $81

    D DH CNG Pro

    AFFORDABLELifetime Fuel Costs

    000s

    78+%

    4 5 3

    22

    D DH CNG Pro

    EFFICIENTFuel Economy

    MPGe

    400+%

  • 6CONFIDENTIAL AND PROPRIETARY |

    CATALYST 40’ TOTAL COST OF OWNERSHIP ADVANTAGE

    Battery-electric vehicles have the lowest operational lifecycle cost:

    • High EV energy efficiency, low electricity rates, and high annual vehicle mileage combine to create significant fuel savings

    • 30% fewer parts dramatically reduce maintenance and operating costs

    • Electricity prices far more stable and predictable than volatile fossil fuel prices

    $0

    $200

    $400

    $600

    $800

    $1,000

    $1,200

    $1,400

    $1,600

    ProterraEV

    CNGBus

    DieselBus

    Diesel-Hybrid

    --- est. over 12 year lifetime / $ in thousands, except TCO $’s/mile ---

    12-yr OperationalSavings per Bus$448k vs. Diesel$459k vs. Hybrid$408k vs. CNG

    MAINT.

    FUEL

    VEHICLE

    ProterraEV

    CNGBus

    DieselBus

    Diesel-Hybrid

    VEHICLE $749 $470 $454 $650

    ENERGY/FUEL $81 $294 $378 $302

    MAINTENANCE $238 $432 $389 $475

    TCO $1,067 $1,196 $1,221 $1,428

    TCO $'s/mile $2.47 $2.77 $2.83 $3.30

    40 foot

    ProterraEVCNGBusDieselBusDiesel-Hybrid

    VEHICLE749000470000454000650000

    ENERGY/FUEL80784294241.4861378000302400

    MAINTENANCE237600432000388800475200

    TCO10673841196241.48612208001427600

    TCO $'s/mile$2.47$2.77$2.83$3.30

    PropulsionAnnual MileageEfficiencyUnitsEnergy PriceUnitsAnnual Energy CostLifetime Energy CostLifetime Maintenance Cost

    Proterra EV36,0001.7kWh/mile$0.11$/kWh$6,732$80,784$237,600

    Diesel Bus36,0004mpg$3.50$/Diesel Gal.$31,500$378,000$388,800

    CNG36,0003.23mpg$2.20$/Diesel Gal.$24,520$294,241$432,000

    Diesel Hybrid 36,0005mpg$3.50$/Diesel Gal.$25,200$302,400$475,200

    432000

    ProterraEVCNGBusDieselBusDiesel- Hybrid

    318384726241.4861766800777600

    12-year savings407857.4861448416459216

    VEHICLEProterraEVCNGBusDieselBusDiesel-Hybrid749000470000454000650000ENERGY/FUELProterraEVCNGBusDieselBusDiesel-Hybrid80784294241.48606811144378000302400MAINTENANCEProterraEVCNGBusDieselBusDiesel-Hybrid237600432000388800475200

  • 7CONFIDENTIAL AND PROPRIETARY |

    EV ECONOMICS IMPROVING RAPIDLY

    2010 2011 2012 2013 2014 2015

    U.S. ELECTRIC VEHICLE SALES (000s Units)

    275

    2009 2010 2011 2012 2013 2014 2015

    LITHIUM ION BATTERY COST ($/kWh)

    $1,200

    $300

    Sources: Navigant Research, green.autoblog.com, Electric Drive Transportation Association.

    Scale in EV is driving down battery and component costsProterra leverages technology gains of entire EV industry

    + Other cost reductionsacross EV BOM

    850

  • 8CONFIDENTIAL AND PROPRIETARY |

    PROTERRA CATALYST® - DIFFERENT BY DESIGN

    Flexible Energy Storage

    Ultimate Flexibility

    Proterra Catalyst®

    Highest Performance

    Multiple Charging Options

    Meet Every Route Need

    Introducing the Proterra Catalyst platformThe Proterra 35- and 40-foot Catalyst platform is designed to deliver a turn-key electric vehicle system, fully customized to meet the needs of your most demanding routes.

    Financing and Services

    Ease of Ownership

  • 9CONFIDENTIAL AND PROPRIETARY |

    FLEXIBLE ENERGY OPTIONS TO MEET ANY ROUTE

    *Depending on model. Nominal range = total energy/ projected Altoona efficiency. Actual range will vary with route conditions, battery configuration and driver behavior.

  • 10CONFIDENTIAL AND PROPRIETARY |

    FLEXIBLE ENERGY OPTIONS TO MEET ANY ROUTE

    TerraPak™ FC TerraPak™ XR

    Each Proterra Catalyst®

    vehicle can be configuredwith the ideal energy

    storage system to fit an existing route, and later reconfigured to serve

    different routes as needs change.

    Safest Battery Location• Outside of passenger

    compartment• Easy access• Better handling

    Customized Battery Options• Interchangeable • Upgradable• Ruggedized

    TerraPak™ E2

    FC-SERIES XR-SERIES E2-SERIES

    FC FC+ XR XR+ E2 E2+ E2 max

    Total Energy kWh 79 105 220 330 440 550 660

    Nominal Range* Miles 49 62 136 193 251 303 350

    Standard Charge Time 10 min 13 min < 3 hrs < 3 hrs < 3.5 hrs < 4 hrs < 5 hrs

    *Depending on model. Nominal range = total energy/ projected Altoona efficiency. Actual range will vary with route conditions, battery configuration and driver behavior.

  • 11CONFIDENTIAL AND PROPRIETARY |

    MULTIPLE CHARGING TECHNOLOGY OPTIONS

    Configuring for “Smart Range” – the Most Efficient Combination of Energy Storage and Charging Options

    Wireless ChargingValidating technologyfor future deployment

    Depot ChargerIndustry- standard chargers available

    On-Route Overhead Charger• Variable-rate conductive charging• Intelligent charging system adjusts to

    vehicle energy storage capabilities• 350 kW maximum charge rate

    Fast-Charging TechnologyEnables overhead charging

    Plug-in Charge Port(s)Compatible with industry-standard SAE J1772 combo connector

    ProterraCatalyst® vehicles

    can be configured foroverhead and/or plug-incharging at a variety of

    rates, to maximizeavailable charging

    opportunities.

    Wireless InterfaceVehicle and charger automatically connect and communicate charging needs

  • 12CONFIDENTIAL AND PROPRIETARY |

    FINANCING YOUR ELECTRIC FLEET

    MUNICIPAL CAPITAL LEASEA generally low-cost financing tool for local governments with investment-grade credits. Can be paid for with FTA funds. Offers structured ownership that enables you to own a Proterra bus at the end of the lease term.

    OPERATING LEASEOperating leases allow you to pay for the use of a bus over time, with the option to permanently transition the bus into your fleet. No out-of-pocket costs.

    BUS RENTAL PROGRAMFor fleet operators looking to “test drive” a Catalyst® bus before making a long-term commitment, Proterra offers the option to rent a bus for up to 12 months before making a long-term purchasing decision.

    BATTERY LEASEA battery lease enables you to buy a Catalyst vehicle for roughly the same price as a diesel bus, putting the operating savings toward the battery lease. Proterra is responsible for the performance of the batteries through the life of the lease, removing operator risk.

    Proterra can help you find the right combination of financing tools that map to your procurement plans:

  • 13CONFIDENTIAL AND PROPRIETARY |

    PARTNERING WITH PROTERRA ON LOW-NO GRANT APPLICATIONS

    Transit agencies that partnered with Proterra won a majority of the Low-No grants for zero-emission vehicles:

    FY 2013/14 Low-No Application Round:• Dallas Area Rapid Transit (DART)• Duluth Transit Authority (DTA) • Transit Authority of Lexington (LexTran) • San Joaquin Regional Transit District (RTD) • Transit Authority of River City (TARC) and • Worcester Regional Transit Authority (WRTA)

    FY 2015 Low-No Application Round:• King County Metro• Southeastern Pennsylvania Transit Authority (SEPTA)• Foothill Transit

    FY 2016 Low-No Application Round:• Santa Clara Valley Transportation Authority• Delaware Transit Corporation (DART)• Everett Transit • Transit Authority of Lexington (LexTran) • Park City Transit • Pierce Transit• Port Arthur Transit• SporTran City Transit Systems/Shreveport

  • 14CONFIDENTIAL AND PROPRIETARY |

    Thank you!

    Alan WestenskowDirector, Business Development

    [email protected]

    mailto:[email protected]

    Proterra – Solving the Issue of Range for Heavy Duty EVsABOUT PROTERRAOUR CUSTOMERSOUR VISION: CLEAN QUIET TRANSPORTATION FOR ALLELECTRIC TRANSIT VEHICLES OUTPERFORM FOSSIL-FUELED VEHICLESCATALYST 40’ TOTAL COST OF OWNERSHIP ADVANTAGEEV ECONOMICS IMPROVING RAPIDLYPROTERRA CATALYST® - DIFFERENT BY DESIGN FLEXIBLE ENERGY OPTIONS TO MEET ANY ROUTE FLEXIBLE ENERGY OPTIONS TO MEET ANY ROUTEMULTIPLE CHARGING TECHNOLOGY OPTIONS FINANCING YOUR ELECTRIC FLEETPARTNERING WITH PROTERRA ON LOW-NO GRANT APPLICATIONSSlide Number 14