e-fuels Liquid electricity - the convenient form of e-mobility Nils Aldag, Managing Director / Founder, Sunfire GmbH Investors

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1 e-fuels Liquid electricity - the convenient form of e-mobility Nils Aldag, Managing Director / Founder, Sunfire GmbH Investors

2 e-fuels - the convenient form of e-mobility e-fuels predicted to play large role in the future ca. 10,300 PJ ca. 10,300 PJ Passenger Vehicles Buses Rail (passenger) Rail (freight) Trucks Ships (freight) Aviation Fossil Fuels Electricity H2 Methane efuels Calculation based on dena/lbst E-Fuels The potential of electricity based fuels for low emission transport in the EU, 2017 To achieve Paris climate goals, direct electricity use will increase Liquid fuels will still play a dominant role in 2050, but renewable fuels required

3 e-fuels - the convenient form of e-mobility e-fuels: Liquid electricity for existing infrastructure Partner Sunfire Partner? Conversion Synthesis Refinement e-diesel e-gasoline e-jetfuel e-methane e-methanol e-waxes Renewable Electricity Ready-to-Use Direct effect on existing EU fleet Infrastructure compatible No-regret measure Carbon Capturing CO 2 from unavoidable sources

4 e-fuels - the convenient form of e-mobility Sunfire s core products: Ready-to-use! Sunfire - HyLink HL 40 e-hydrogen production Highest efficiency in industry: 82% LHV Modular concept for upscaling (>100 MW) Flexible operation (30%-120%) Sunfire - SynLink SL 40 e-syngas production for e-fuels Converting CO 2 and H 2 O into syngas for e-fuels Lowest CAPEX for e-fuel production Delivered in standard 40 Ft containers Sunfire-SynLink in use for e-fuels production Sunfire HyLink in use at Steel plant Salzgitter

5 e-fuels - the convenient form of e-mobility Cost projections in recent studies (2050) Long-term e-fuel production costs for sweet spots (Fischer-Tropsch) Studies converge for assumptions Key driver for costs is the price of electricity and operation hours Sunfire agrees with electricity costs, but sees lower full load hours and higher efficiencies

6 e-fuels - the convenient form of e-mobility Reaching for biofuel parity Siemens predicts CO 2 avoidance costs of /tco 2 Viable solution for renewable fuels next to biofuels

7 e-fuels - the convenient form of e-mobility Norway a sweet spot for e-fuels production Sunfire will build the first commercial e-fuels plant by 2020/2021 in Herøya, Norway Multiple off-take agreements in place for 8,000 t/a Unique advantages through location Low electricity prices (ca. 2 ct /kwh) Continuous supply (>7,000 h) Distribution shipping terminal at site 10 potential sites for expansion identified Sunfire e-fuel 1 plant in Dresden, Germany Business case repetitive in other European countries (e.g. Eastern Europe)! Nordic Blue e-fuel 1 site at Herøya, Norway

8 e-fuels - the convenient form of e-mobility Requirements for Market Roll-Out Include e-fuels in passenger transport regulation (Renewable Energy Directive II) Enable the purchase of 100% renewable electricity from the grid, if Proof of origin, full cost coverage for production and transport, time reference. This can be achieved via power purchase agreements Allow the use of CO 2 from unavoidable sources Allow blending e-fuels/e-gas with fossil fuels to best utilize existing infrastructure and to facilitate transformation Do not create unjustified support for individual technologies

9 e-fuels - the convenient form of e-mobility Summary Sunfire technology is ready for deployment Sunfire has proven market leading efficiencies with 82% Sunfire promotes green hydrogen and hydrocarbons equally Costs will decrease quickly and biofuel parity is in reach First commercial project in preparation in Norway Set the right political framework and support immediately (start with transport) Power-to-X is a huge opportunity for the oil & gas industry and for Europe Drive e-fuels and disrupt or be disrupted

10 e-fuels - the convenient form of e-mobility e-fuels and e-gas - Becoming an everyday reality SF Power-to- Liquids plant SF Power-to- Hydrogen plant Audi A4 g-tron SF Power-to-Gas plant

11 VIELEN DANK! Nils Aldag Managing Director E: sunfire GmbH Gasanstaltstraße Dresden Germany W:

12 e-fuels - the convenient form of e-mobility We put wind and solar power in the tank Artist: Jean-Yves Hamel it s a huge opportunity for the oil and gas industry.

13 TWh/yr e-fuels - the convenient form of e-mobility Theoretical capacities of renewable electricity in Europe Utility-scale PV on energy crop areas EU-Future: Estimated electricity consumption with intensive electrification and e-fuels / e-gas: ~5,000 TWh EU : Rooftop & façade; along highways & railway lines Gross electricity generation: 3,234 TWh Final electricity consumption: 2,744 TWh Wind onshore Wind offshore Photovoltaics Hydropower Geothermal Ocean Energy Solarthermal Bandwidth Potential already exploited in 2015 Dena/LBST E-Fuels The potential of electricity based fuels for low emission transport in the EU, 2017 Europe has sufficient renewable electricity generation potential for massive electrification scenario including e-fuels / e-gas