EVgo (EVGO) investor relations material

Business performance and growth

• Revenue has grown 17-18x over the past three and a half years, outpacing public charging peers.

• Usage per stall increased sixfold, with 5,000 stalls in operation, nearly half deployed in the last two years.

• Financing secured includes a $1.25B DOE loan and a new commercial bank facility, supporting stall buildout for several years.

• EBITDA is expected to turn positive in Q4 2025, a major milestone from negative $80M in 2022.

• Operating leverage is strong, with two-thirds of G&A and 30% of cost of sales largely fixed, driving margin expansion.

Market dynamics and competitive positioning

• No direct public peers except Tesla; most competitors are small or focused on slow charging or equipment sales.

• Usage per stall has grown much faster than the national average, attributed to superior site selection and faster chargers.

• Partnerships with retailers like Kroger will add at least 150 stalls per year for 10 years, supporting long-term growth.

• Focus on urban and suburban locations, not highways, differentiates from competitors.

• Over half of fast charging operators are small, private, and lack scale or financial strength.

Customer segmentation and engagement

• Rideshare drivers now account for 25% of network usage, up from 10% three years ago.

• Public fast charging is increasingly important as many rideshare drivers lack home charging.

• Customer base has reached 1.6 million, enabling network effects and targeted engagement.

• Utilization rates have risen from 5-6% to mid-20s%, with dynamic pricing used to optimize usage across all hours.

• Autonomous vehicle partnerships are growing, with dedicated fast charging sites and long-term contracted cash flows.