Energy Vault Achieves Major Strategic Milestone with Commercial Operation of Cross Trails BESS, Marking the First Asset Placed in Service Under “Own & Operate” Growth Strategy

57 MW two-hour battery energy storage system (BESS) in Snyder, Texas now providing energy and ancillary services at highly attractive node in the Electric Reliability Council of Texas (ERCOT) region

Project placed in service ahead of schedule as the first project completed under Energy Vault’s growing portfolio of “Owned & Operated” projects with a 10-year offtake agreement with Gridmatic providing guaranteed revenue floor plus upside participation

Energy Vault’s globally diversified portfolio now totals 725 MW / 3,700 MWh in progressive development phases over the past 18 months across the U.S., Australia, and Italy. The portfolio includes energy storage solutions with durations ranging from 2 to 8 hours, specifically designed to maximize financial returns while minimizing risk through long term, contracted revenue agreements