Energy Vault to provide an overview of the Asset Vault portfolio, pipeline developments and investment returns

Energy Vault commemorated Asset Vault Launch and a new 150MW Texas ERCOT project acquisition with NYSE Opening Bell Ringing Ceremony at market open today

Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the “Company”), a leader in sustainable, grid-scale energy storage and infrastructure solutions, today announced that the Company will host a virtual Investor & Analyst Day on Wednesday, October 29^th, 2025, at 1:00 p.m. ET.

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Energy Vault executives ring the Opening Bell at the New York Stock Exchange to celebrate the launch of Asset Vault. (Photo: NYSE)

Investor & Analyst Day Overview

The event will feature presentations with members of the Company’s executive leadership team including Robert Piconi, Chairman and Chief Executive Officer, and Michael Beer, Chief Financial Officer. Management will provide detailed insights into Energy Vault's Asset Vault platform, the Company's fully consolidated subsidiary dedicated to developing, building, owning and operating energy storage assets globally, and strategic growth initiatives as the Company advances Asset Vault to consolidate a growing portfolio of contracted and operational energy asset management projects.

Recently launched with the backing of a $300 million preferred equity investment from Orion Infrastructure Capital (“OIC”), Asset Vault creates a vertically integrated ecosystem that captures value across the entire energy storage lifecycle. The platform combines Energy Vault's proven operational expertise with long-term asset ownership to generate predictable, recurring and high-margin cash flows. With the launch of Asset Vault, Energy Vault is positioned to accelerate deployment of +1.5GW in attractive priority markets and top quartile IRR projects. Energy Vault expects Asset Vault to generate over $100 million in recurring annual EBITDA within the next 3-4 years.

To register for the virtual event please go to the link here. A webcast replay will be available two hours following the live presentation and will be accessible for 90 days.

New York Stock Exchange Bell Ringing

At market open today, Energy Vault rang the Opening Bell at the New York Stock Exchange (“NYSE”) to celebrate the launch of Asset Vault. Earlier today, the Company announced its acquisition of the 150 MW SOSA Energy Center in Texas, marking the first energy storage asset formally acquired under the new Asset Vault investment platform to complement the two projects already in operation: the Calistoga Resiliency Center supporting PG&E in California and the Cross Trails BESS in Texas’ ERCOT market.

“Opening the NYSE with the bell ringing in commemoration of Asset Vault’s launch reflects the successful execution of our ‘Own & Operate’ energy asset management strategy,” said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. “The launch of Asset Vault and our immediate capital deployment of a fourth project acquisition globally of the 150 MW SOSA project in ERCOT Texas announced this morning highlight our ability to execute with velocity on attractive top quartile investment opportunities in long term energy infrastructure assets.”

About Energy Vault

Energy Vault® develops, deploys and operates utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary battery, gravity and green hydrogen energy storage technologies supporting a variety of customer use cases delivering safe and reliable energy system dispatching and optimization. Each storage solution is supported by the Company’s technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short, long and multi-day/ultra-long duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Since 2024, Energy Vault has executed an “Own & Operate” asset management strategy developed to generate predictable, recurring and high margin tolling revenue streams, positioning the Company for continued growth in the rapidly evolving energy storage asset infrastructure market. Please visit www.energyvault.com for more information.

Forward-Looking Statements

This press release includes forward-looking statements that reflect the Company’s current views with respect to, among other things, the Company’s operations and financial performance, including the future revenue and profitability projections, the availability of future draws under the OIC preferred stock commitment to Asset Vault, the timeline to deploy Asset Vault capital, the structure of Asset Vault, and the cost per kilowatt hour achievable by Energy Vault. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “project,” “forecast,” “estimates,” “targets,” “projections,” “should,” “could,” “would,” “may,” “might,” “will” and other similar expressions. We base these forward-looking statements or projections on our current expectations, plans, and assumptions, which we have made in light of our experience in our industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at the time. These forward-looking statements are based on our beliefs, assumptions, and expectations of future performance, taking into account the information currently available to us. These forward-looking statements are only predictions based upon our current expectations and projections about future events. These forward-looking statements involve significant risks and uncertainties that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the failure to execute definitive agreements or meet conditions for future funding draws, changes in our strategy, expansion plans, customer opportunities, future operations, future financial position, estimated revenues and losses, projected costs, prospects and plans; the uncertainty of our awards, bookings, backlog, timing of permits and developed pipeline equating to future revenue; the lack of assurance that non-binding letters of intent and other indication of interest can result in binding orders or sales; the possibility of our products to be or alleged to be defective or experience other failures; the implementation, market acceptance and success of our business model and growth strategy; our ability to develop and maintain our brand and reputation; developments and projections relating to our business, our competitors, and industry; the ability of our suppliers to deliver necessary components or raw materials for construction of our energy storage systems in a timely manner; the impact of health epidemics, on our business and the actions we may take in response thereto; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; expectations regarding the time during which we will be an emerging growth company under the JOBS Act; our future capital requirements and sources and uses of cash; the international nature of our operations and the impact of war or other hostilities on our business and global markets; our ability to obtain funding for our operations and future growth; our business, expansion plans and opportunities and other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on April 1, 2025, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov. New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws. You should not place undue reliance on our forward-looking statements.

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