Energy Vault Holdings Secures Additional $50 Million to Support Energy Storage Growth Projects (Form 8-K)

Energy Vault Holdings Secures Additional $50 Million to Support Energy Storage Growth Projects

Working capital facility is in addition to the previously announced $300 million preferred equity investment for "Asset Vault", enabling flexibility to address growth in demand for energy storage and AI data center buildouts

WESTLAKE VILLAGE - September 26, 2025 - Energy Vault Holdings Inc. (NYSE: NRGV) ("Energy Vault" or the "Company"), a leader in sustainable, grid-scale energy storage solutions, today announced it has entered into a definitive funding agreement with YA II PN, Ltd. for up to $50 million in corporate debenture financing. This facility provides additional financial flexibility at the holding company level and will support Energy Vault's continued growth in energy storage project development and execution.

"This new facility provides Energy Vault with the working capital resources to continue scaling our business and delivering on our growth projects without constraint," said Michael Beer, Chief Financial Officer of Energy Vault. "Importantly, this cash is in addition to the preferred equity we previously announced in support of owning and operating energy assets - ensuring incremental liquidity for Energy Vault Holdings as we expand our third-party project pipeline."

This funding agreement is separate from and in addition to the recently announced $300 million preferred equity investment with a leading infrastructure investor which is pending final closure as previously announced. Upon final closing, Asset Vault will be formed as a fully consolidated subsidiary to house Energy Vault's storage assets that it will own and operate. These assets will be supported by long-term offtake agreements that ensure project monetization and underpin Energy Vault's independent power producer (IPP) strategy, creating recurring revenue streams and high margin, contracted cash flows.

This growing portfolio of owned and operated energy storage projects include operational facilities in Texas and California, the recently acquired 1 GWh Stoney Creek project in Australia, and a robust pipeline of approximately 3GW of battery energy storage systems across the U.S., Europe, and Australia.

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.

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