Infinite Power Business Plan

BUSINESS PLAN PRESENTATION INFINITE POWER MARCH, 2021

Confidential

Infinite Power: Meeting Tomorrow’s Power Needs

Historic shift to non carbon emitting energy sources

New technologies are the key to making this shift successfully

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In nite Power has the only base load, scalable, modular, emission-free power generating technology

The Challenge: Meet the World’s Energy Needs Without Hydrocarbons In 2018 the World Supplied 14.3 Billion Tonnes of Oil Equivalent 16,000,000

8,000,000

Demand for Renewable Energy is Growing Exponentially

4,000,000

0

Coal

1990 Natural gas

1995 Oil

2000

2005

Nuclear

Hydro

2010

2015

Wind, solar, etc.

2018

• IEA forecasts a 79% increase in energy consumption between 2018 and 2050

Biofuels and waste

• Renewable energy sources are forecast to represent 28% of supply in 2050, up from 15% in 2018

81% of Global Energy Supply is From Hydrocarbons

• IEA expects the world to add 5 billion tonnes of oil equivalent of renewable energy supply — an increase of 234%

Coal 27%

Oil 31%

• Infinite Power will be supplying into enormous market demand Global Energy Supply

by Type

Biofuels and waste 9%

- 1 GW of Infinite Power Cells equals 753 thousand tonnes of oil equivalent per year

Natural gas 23%

Wind, solar, etc.

2% Hydro 3% Nuclear 5%

Source: IEA KTOE is thousand tonnes of oil equivalent

KTOE

12,000,000

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The Infinite Power Cell A Technology Breakthrough Infinite Power’s breakthrough semiconductor technology completely changes the production and economics of industrial scale power using radioisotopes A Solar Cell in a Box Replaces the sun with readily available radioisotopes • 1 million times the energy density of a lithium ion battery • 40,000 times more specific energy than gasoline

Radioisotope

• 600% more energy output than a solar cell • Lowest cost power production • Zero carbon footprint • Runs continuously for decades

P-N Interface

• Low capital cost • Produces zero waste

Produces uninterrupted power for decades with zero emissions and zero waste

Infinite Power Cells utilize everyday processes

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The Infinite Power Cell is Moving to Full Commercialization

Key Development Milestones

2016 Patent lodged under the Global Patent Treaty

1950s Development of atomic batteries for use in US and USSR space programs Limited in wattage by available material science, further development abandoned

2009 Idea of capturing the energy from the natural decay of isotopes

2012 Successful proof of Concept at the University of New South Wales

2014 First prototype cell successfully tested at Pacific Northwest National Laboratories (USA)

2014 2016 Provisional Patent Second prototype PCT/ successfully tested at AU2015/050712 Pacific Northwest National Laboratories (USA)

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2018 Established UK operations

2017 Constructed demo unit, 4 years of continuous operation

2020 2019 Proven with high Successful X-ray and dosage of Co-60 at the gamma testing University of Manchester

2021 - on Commercialization

Recent Developments

Sale of 30MW

Distributed Power in EV Charging Stations

• UK company to build a 30 MW power plant to provide power to industrial and commercial customers • The agreement includes an option on an additional plant with 20 MW of capacity • There are several sites in the UK under consideration for the location of the plants

Status: LOI signed, definitive MOU in process

• Deploy Infinite Power Cells to power EV charging stations

• Discussions with government and industrial partners on vehicle charging with a view to a heads of agreement

Status: Active, ongoing

• Agreement with the Henry Royce Institute • Technology development collaboration - Robotic handling of radioisotopes - Mass production of radioisotopes

Status: Ongoing

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• Partnership with Framatome to develop and deploy

• Modular deployment in motorway stations

Technology Development

Uninterrupted Power in Critical Applications

Status: Determining technical specifications

Case Study: Infinite Power Cells + High Speed EV Charging Stations Mass Deployment of Electric Vehicles Necessitates Simultaneous Deployment of Charging Stations

Mass Transition to EVs is Underway • The UK government has banned the sale of internal combustion engines by 2030 • GM withdrew from the lawsuit over California’s emission plans • GM plans to have 40% of its models as EVs by 2025 • EVs already account for almost 20% of new car sales in Germany — with each passing month setting a new record • In Norway, EVs currently account for over 10% of registered vehicles

• The US administration is calling for the installation of 550,000 charging stations to support EVs in the US

Implications • Generating sufficient zero carbon electricity • We estimate for the UK to replace 10% of registered cars with EVs will require a 4-5% increase in generating capacity • Upgrading the grid to handle increased power transmission • Centralized to decentralized power distribution

Advantages of Infinite Power Cells for EV Charging • Modular — grow with the need • Standalone — no impact to the grid, ideal for rural deployment • Baseload — the power is always there when you need it • Zero Carbon — meets all renewable standards • Easy to deploy — minimal infrastructure required • Low cost — predictable and stable

Modular Nature of Our Technology Makes it Ideal for Base Load Power in a Range of Applications

Large Scale, Base Load Power • Size range: 200MW to multiple GW • Replace decommissioned nuclear and coal power plants • Meet growing power demands with a safe, clean, carbon free source

Infinite Power Plant

Distributed Power • Size range: 10KW to multiple MWs • Examples: motorway stops to recharge EVs, hospitals

From

Industrial Applications • Size range: 10KW to hundreds of MW • Dedicated power • Examples: data centers, chemical plants, mining

Geographically Challenged • Size range: tens to hundreds of MWs • Geographies where importing hydrocarbons for power production is expensive • Examples: islands and remote communities

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Multiple Opportunities to Commercialize the Technology

Initial Production Line (UK) • MOU to sell power • Sale of Infinite Power Cells to potential commercial partners and low volume-high value niche applications

• Discussions to replace coal based power with Infinite Power plants to help the UK’s plans to become carbon neutral

Commercialization Strategy Build Infinite Power Cell Manufacturing Plants for Use in Power Plants that sell power under long term Power Purchase Agreements

• Letter of Intent for development with a major Japanese trading house - Exclusive to Japan

Longer Term • Joint ventures • License IP • Manufacture and sell Infinite Power Cells • Build power plants

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Lowest Capital Cost per MW of Any Existing Power Technology at 1GW p.a. Production

Infinite Power’s Capital Cost per MW at 1GW p.a. Production A*

All-in Factory Capital Cost

B

GW Cells Produce per Year

C

Years of Production

12

BxC=D

Total GW Produced Life of Factory

12

A/D=E

Factory Cost per GW

$4,583,333

E / 1,000,000 = F

Factory Cost per KW

$4.58

G

$55,000,000 1

KW per Cell

FxG=H I**

Lowest Installed Cost of Any Power Generating Technology

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Factory Cost per 10KW Cell

$46

Cost to Mfg 10 KW Cell

$2,775

H+I=K

Total Cost per 10 KW

$2,821

L

10KW Cells per MW

100

Technology

Installed Cost per MW

Infinite Power

$282,083

Solar PV - Utility Scale

$950,000

Wind

$1,150,000

Coal

$3,000,000

Gas — Combined Cycle

$700,000

Nuclear

$6,500,000

Sources: Company analysis, “Lazard’s Levelized Cost of Energy Analysis”

KxL=M

Total Cost per MW

$282,083

*A: Factory cost supported by equipment tender process and construction and manufacturing plans **I: Manufacturing cost supported by Isotope supply tender process and BOM analysis

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Levelized Cost of Energy Comparison (“LCOE”) Infinite Power Projects a Substantial LCOE Advantage

LCOE Comparison Range (Low to High) Infinite Power Levelized Cost $/MWH Technology Low End Infinite Power $6.94 Solar - Utility Scale Crystalline $36 Solar - Utility Scale Thin Film $32 Solar Thermal Tower $126 Geothermal $69 Wind - Onshore $28 Gas Peaking $150 Nuclear $118 Coal $66 Gas Combined Cycle $44

Solar - Utility Scale Crystalline Solar - Utility Scale Thin Film Solar Thermal Tower Geothermal Wind - Onshore Gas Peaking Nuclear Coal Gas Combined Cycle $0

•

$56

$113

$169

$225

Infinite Power base case LCOE: $9.38/MWH -

At a base case capital cost of $282/KW

-

Low end capital cost: $200/KW, -29% from base case

-

High end capital cost: $564/KW, +100% from base case

•

Radioisotope is the critical variable driving capital cost

•

Lazard analysis methodology

•

Power at this cost will drive substantial IRRs for power project investors as demonstrated by the Infinite Power model for a 1GW facility: the $55m investment could provide an IRR of 135% over 10 years

Sources: Company analysis, “Lazard’s Levelized Cost of Energy Analysis”

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High End $17.82 $44 $42 $156 $112 $54 $199 $192 $152 $68

Radioisotope is the Most Important Driver of IRR

Cobalt-60 is the Radioisotope • Cobalt-59 is the raw material for producing Cobalt-60 • Cobalt-59 is widely available and traded on the LME -

125,0001

Cost of Co-60 per MT $1,600,000

MT produced per year

• Cobalt-59 costs $32,500/MT (LME) • Activation to Cobalt-60 is proven, widely available • Activation is budgeted to cost $1.5m/MT • 1KG of Cobalt-60 will power a 10KW Infinite Power Cell • Cobalt capital cost per KW installed: $153

$1,200,000

$800,000

$400,000

$0

Cobalt

Cobalt

Factory Cost

Cell Manufacture

Multi Source Strategy to Secure Isotope Supply 1Source:

Cobalt Institute

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Activation

Risks

Strategy to Mitigate

Risk

•

Enter into multiple agreements to lease reactor time to produce radioisotope in required quantities that will ensure supply and obtain pricing advantages of long-term contracts

•

Other radioisotopes, such as cesium-137, are suitable sources of high energy emissions

•

Using standardized equipment

•

Production processes are widely used throughout industry

•

Attempt to anticipate issues related to pandemic, supply chain disruptions

•

Stay in close contact with key employees and vendors

•

Raise capital through private placement and in due course an IPO subject to market conditions

Supply of radioisotope

Scale-up production

Delays

Availability of growth capital

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Infinite Power Checks Every Box

Economic

Safe

Lowest capital cost per MW of any technology

Power cells are sealed, self contained units

Scalable Each plant produces 1GW of power cells per year — rapid scale up Modular construction

Near zero operating cost IRRs of 142%

100% Clean

Long Lived

Reliable

Zero carbon emissions

Produces power for decades

Produces power 24/7

Radioisotope decays to nickel

Each 10KW Infinite Power Cell contains 660MWh of stored power

Most components manufactured using everyday, off the shelf components

No waste

Infinite Power has proven its technology works and is ready to scale for commercial applications

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Infinite Power is a New Power Generation Technology That Can Product Clean Baseload Power

An example of the Design & Core Structure of the Infinity Power Cell

Once we catch the Sun in the box (Isotope) we encase it in 3x layers of Aluminum boxes and making it un-breakable (Just like a modern Babushka doll) • Breakthrough

The Infinite Power Cell Long-lived 24/7 Power

technology

- Proven, safe and patented — you can watch a Power Cell being manufactured at our R&D facility • Scalable and mass deployable - Long-life, reliable base load power • 100% green — zero carbon footprint • Ready for full commercialization

The Advantages of Trapping the Sun (isotope) in a box is a Century of•Cheap, Clear Ultra-green Clean Power 24 hours a day no matter the weather

path to $1+ billion in EBITDA

• Highly attractive investor returns

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How the Infinite Power Cells Works

Infinite Power Cells operate in a similar way to how solar cells capture the sun’s energy and convert it into electricity.

However, instead of converting the suns rays, the Infinite Power Cell converts the radiation wave emitted from a radioisotope into electricity. Emitting a constant and consistent radiation wave that allows the use of radioisotopes as the energy source in place of the sun.

Radioisotopes in combination with the Infinite Power semiconductor material produces electricity 24 hours a day, every day of the year.

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The Technology Breakthrough

The breakthrough came when Infinite Power discovered the correct material and process to be used to create the semiconductor material that works readily with most radioisotopes.

This newly discovered semi-conductor material could then be used by Infinite Power in conjunction with virtually any radioisotope as the energy source, replacing the light waves of the sun as the radiation source.

This new semiconductor material is the heart of the Infinite Power Cell; it performs the same job as the black solar cells that sit on your roof. Its job is to convert the radiation energy emitted from a radioisotope into electricity.

Energy waves produced from radioisotopes (like those used in an X-Ray machine) stream constantly to produce power 24 hours a day, every day.

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Semiconductor Material Under Electron Microscope Magnification

A Natural Life Cycle with Zero Waste

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After Decades Isotope Depleted to Inert Material

1

Install a Power Cell

Life Cycle of a Power Cell

3

Replace the Isotope and Resume Power Production

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Infinite Power Cell Development Summary Year

2013 - 2014

Isotope

Sr-90

Test Objective

Duration

Conclusions

High energy radiation, relatively low flux/activity of radiation

6 months continuous operation

Proved the ability for the semiconductor to sustain high energy beta radiation over a sustained period of time – no change to the electrical properties of the semiconductor

2014 and 2016

Sr-90

High energy beta radiation and high flux/activity radiation

24 hours of continuous operation

2017

Pm-147

Low energy beta and high flux/ activity radiation

3 years of continuous operation

Pm-147

Low energy beta and high flux/ activity radiation for several years

2019

2019

2020

Sr-90

Co-60

High energy beta and high flux/activity radiation

High energy gamma and high flux/activity of radiation

6 months of intermittent operation

1 year of continuous operation

Traditional semiconductor technology (silicon, germanium, gallium arsenide, etc.) would fail under the same conditions Proved the ability for semiconductor to sustain high energy beta radiation and high flux/activity of radiation for 24 hours – no change to the electrical properties of the semiconductor Prototype, demonstration device proved the ability for the semiconductor to sustain low energy beta radiation and high flux/activity of radiation over a sustained period of time – no change to the electrical properties of the semiconductor Proved the ability of the semiconductor to sustain low energy beta radiation and high flux/activity of radiation over a sustained period of time – no change to the electrical properties of the semiconductor Proved the ability of the semiconductor to sustain high energy beta radiation and high flux/activity of radiation over a sustained period of time – no change to the electrical properties of the semiconductor Testing with this radioisotope would result in a traditional solar cell semiconductor breaking in matter of minutes

36 hours of continuous operation

Proved the ability of the semiconductor to sustain high energy gamma radiation and high flux gamma radiation – no change to the electrical properties of the semiconductor Testing with Co-60 would result in a traditional solar cell semiconductor breaking in less than 2 minutes

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The Power Plant of the Future Easy to Build and Duplicate in Modular Format 1,000 MW Power Station Constructed from stacked Infinite Power Cells

• Fast construction, 18 months • Infinite Power Cells stack modularly and are easy to install • Plug and play — sub-station and electrics borrowed straight from the solar industry • Facility is designed to last decades and is easily expandable for future growth • Concrete tilt-up construction

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For More Information Contact Michael Weinstein, CF M: +1-914-589-596 michael.w@infinitepower.lfe

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