Slide 1: Q2 2026 Earnings Call
Nasdaq: EVGO – investors.evgo.com Q2 2026 Earnings Call August 5, 2026
Slide 2: Safe Harbor & Forward-Looking Statements
SAFE HARBOR & FORWARD-LOOKING STATEMENTS Forward-Looking Statements assumptions, whether or not identified in this presentation, and on the current and "Management’s Discussion and Analysis of Financial Condition and Results This presentation contains "forward-looking statements" within the meaning
Slide 3: Strategic Overview
01 Strategic Overview Badar Khan, CEO
Slide 4: A Proven Execution Story Entering 2026 and Beyond
A PROVEN EXECUTION STORY ENTERING 2026 AND BEYOND OPERATIONAL STALLS1 REVENUE ($ MILLIONS) 32% CAGR 100% CAGR through 2025 through 2025 $400 - $430 6,230 - 6,500 6,625 $3582 4x 19x 5,100 $257 4,080 2,980 $161 2,180 1,680 $55 $22 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26F 2021 2022 2023 2
Slide 5: Expanding Network with EVgo Superchargers from Tesla
EXPANDING NETWORK WITH EVGO SUPERCHARGERS FROM TESLA ACCELERATING NACS DEPLOYMENT AND EXPANDING CUSTOMER REACH EVgo owns chargers; EVgo Superchargers Seamless access for Goal for all 2023 Tesla builds & visible in Tesla NACS drivers across Vintage+ sites to have operates navigation EVgo footprint NA
Slide 6: EVgo's Network Is Over 14x Larger Than the Rest of the Industry Average
EVGO'S NETWORK IS OVER 14X LARGER THAN THE REST OF THE INDUSTRY AVERAGE 1 BUILDING EVGO'S COMPETITIVE STALLS1 ADVANTAGE 37,159 10,000 Industry-leading scale and partnerships • 5,300+ stalls vs 375 average rest of 14x industry1 5,743 5,380 • Superior site selection and host relationships • Leading ri
Slide 7: A Leading Owner Operator of EV Fast Charging Infrastructure
A LEADING OWNER OPERATOR OF EV FAST CHARGING INFRASTRUCTURE ~600 MW Connected Utility Power ~2,300 MW Connected Utility Power 5,380 Network Stalls 17,000+ Network Stalls3 1,230+ Locations 2,000+ Locations 47 States 48 States CONVENIENT, RELIABLE, FAST Serving all EV Third largest DCFC Leveraging AI-
Slide 8: Growing EV Adoption Driving Expanding Fast Charging Market Opportunity
GROWING EV ADOPTION DRIVING EXPANDING FAST CHARGING MARKET MEGATRENDS & TAILWINDS OPPORTUNITY EV VIO EV VIO1 (millions) • EV VIO is projected to grow at a ~17% CAGR from ~17% 2026-2030, outpacing most other high-growth CAGR industries2 12.7 Used EV Sales • ~1.5M used EVs rolling off lease from 2026
Slide 9: Scaling Public Network Combined with Operating Leverage Results in Compelling Financials
SCALING PUBLIC NETWORK COMBINED WITH OPERATING LEVERAGE RESULTS IN COMPELLING FINANCIALS LONG-TERM ILLUSTRATIVE VIEW WITH FURTHER ACCELERATION OF NETWORK BUILD Illustrative Scenarios1 Public Network 2022 2023 2024 2025 2028 2030 OWNED & OPERATED STALLS (YEAR END)z 2,180 2,830 3,450 3,890 8,000 - 8,7
Slide 10: EVgo's Growth Algorithm
EVGO'S GROWTH ALGORITHM Competitive Advantages Growing Megatrends & Compelling 2030 Tailwinds Best-In-Class Customer Experience & Engagement Targets2 (Illustrative Public Network) Increasing Battery Industry Leading Network Scale & Electric Vehicle Adoption Partnerships Difficult to Duplicate Growth
Slide 11: Compelling Long-Term Adjusted EBITDA Generation with Significant Upside Opportunities
COMPELLING LONG-TERM ADJUSTED EBITDA GENERATION WITH SIGNIFICANT UPSIDE OPPORTUNITIES 2025 TO 2030 ADJUSTED EBITDA1 GROWTH POTENTIAL FUTURE POTENTIAL Autonomous Vehicles Inorganic opportunities Adjacency opportunities Geographic expansion Excess capacity monetization $400-$600M Illustrative Public N
Slide 12: EVgo Offers Differentiated Growth at an Attractive Valuation
EVGO OFFERS DIFFERENTIATED GROWTH AT AN ATTRACTIVE VALUATION HIGH GROWTH, LOW MULTIPLE - A DISCONNECT COMPARED WHILE EBITDA MARGINS EXPECTED TO BE AMONG THE TO SIMILAR INDUSTRIES AND PEERS HIGHEST IN THE INDUSTRY Five Year (2025 - 2030) Consensus EBITDA CAGR and EV / EBITDA Multiple1 EV Charging 203
Slide 13: Financial Overview
02 Financial Overview Keefer Lehner, CFO
Slide 14: Non-Dilutive Capital Supports Network Growth
NON-DILUTIVE CAPITAL SUPPORTS NETWORK GROWTH $ MILLIONS DOE COMMERCIAL TOTAL Size $7502 $3003 $1,050 Interest Rate Treasury +~1.2% SOFR + 3.25% 6.0%4 Maturity Amortization From 2030 2042 From 3/31/2026 2030 n/a n/a $835M Available Liquidity5 First of its Kind ✓ ✓ ✓ Low Cost of Capital ✓ ✓ ✓ Long Dur
Slide 15: Key Financial and Operational Trends
KEY FINANCIAL AND OPERATIONAL TRENDS OPERATIONAL STALLS CUSTOMER ACCOUNTS (000s) PUBLIC NETWORK THROUGHPUT (GWH) +3.0x +5.1x +13.9x 5,380 1,739 1,867 384 5,100 366 332 4,350 1,539 4,080 1,338 277 2,980 v 884 128 2,180 1,680 553 26 45 340 2021 2022 2023 2024 2025 Q2 Q2 12/31/21 12/31/22 12/31/23 12/3
Slide 16: Key Financial Highlights Q2 2026
(unaudited, dollars in thousands) Q2'26 Q2'25 Change Throughput per stall per day (kWh) 276 281 (2)% Charge rate (kW) 57 52 10 % Utilization 20 % 22 % (200) bps Network throughput (GWh) 99 88 13 % Total charging network revenue $ 61,421 $ 51,828 19 % eXtend revenue $ 18,017 $ 37,385 (52)% AV and anc
Slide 17: 2026 Financial & Operational Guidance
2026 FINANCIAL & OPERATIONAL GUIDANCE FY2026 $ REVENUE 400M - $430M FINANCIAL AND OPERATIONAL ADJUSTED EBITDA1 $ (25)M - $(5)M GUIDANCE TOTAL NEW STALLS 1,350 – 1,625 PUBLIC & AV 950 – 1,175 EXTEND 400 – 450 1 Non-GAAP measure. A reconciliation is not provided because certain measures cannot be reas
Slide 18: Q&A
Q&A
Slide 19: Appendix
03 Appendix Summary Financials and Reconciliation of Non- GAAP to GAAP Measures
Slide 20: Forward-Looking Commentary
FY2026 PUBLIC STALLS • 60% of new public stalls operationalized in Q4’26 • ~2/3 of 2026 total revenue, implies up to 30% year-over-year CHARGING NETWORK revenue growth • Q3'26 lowest margin quarter with summer utility rates FORWARD- LOOKING EXTEND • $90 to $95 million in revenue • 2/3 of H2'26 reven
Slide 21: Unit Economics Offer Compelling Returns
ANNUALIZED STALL PERFORMANCE 2030 Illustrative Scenario1 Q2 2025 Q2 2026 (Current) @ 15,000-17,000 stalls Top 15% by Top 15% by Network Average Network Average Nominal dollars Throughput Throughput UNIT Revenue Throughput per stall kWh/stall/day 281 604 276 604 425-475 ECONOMICS Utilization % 22 % 4
Slide 22: Stall Counts
6/30/2026 6/30/2025 Change Stalls in operation: EVgo public network1 3,930 3,480 13 % EVgo AV network2 120 110 9% EVgo eXtend™ 3 1,330 760 75 % STALL COUNTS Total stalls in operation 5,380 4,350 24 % 1 Stalls at publicly available charging stations that we own and operate on our network. 2 Stalls at
Slide 23: Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) June 30, 2026 December 31, 2025 (in thousands) (unaudited) Assets Current assets Cash and cash equivalents $ 121,822 $ 151,000 Restricted cash, current 61,684 49,519 Accounts receivable, net of allowance of $32 and $75 as of June 30, 2026 and Decembe
Slide 24: Condensed Consolidated Statements of Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2026 2025 Change % 2026 2025 Change % Revenue Total charging network $ 61,421 $ 51,828 19 % $ 117,138 $ 98,926 18 % Non-charging network eXtend 18,0
Slide 25: Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Six Months Ended June 30, (in thousands) 2026 2025 Cash flows from operating activities Net loss $ (83,323) $ (56,048) Adjustments to reconcile net loss to net cash (used in) provided by operating activities Depreciation, amortization and a
Slide 26: Definitions of Non-GAAP Financial Measures
DEFINITIONS OF NON-GAAP FINANCIAL MEASURES This presentation includes the following non-GAAP financial measures, in each case as defined below: EVgo defines Adjusted Gross Profit (Loss) as revenue less Adjusted Cost of Sales. “Charging Network Gross Profit,” “Charging Network Gross Margin," "Adjuste
Slide 27: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP (unaudited, dollars in thousands) Q2'26 Q2'25 Change Q2'26 YTD Q2'25 YTD Change Q2'26 TTM Q2'25 TTM Change GAAP revenue $ 82,648 $ 98,030 (16)% $ 192,179 $ 173,317 11 % $ 402,948 $ 308,365 31 % GAAP net loss $ (46,342) $ (29,821) 55 % $ (83,323) $ (56,048
Slide 28: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP (unaudited, dollars in thousands) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 GAAP revenue $ 384,086 $ 256,825 $ 160,953 $ 54,588 $ 22,214 GAAP net loss $ (95,438) $ (126,701) $ (135,466) $ (106,240) $ (57,762) GAAP net loss margin (24.8)% (49.3)% (84.2)% (19
Slide 29: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP (unaudited, dollars in thousands) Q2'26 Q2'25 Change Q2'26 YTD Q2'25 YTD Change Q2'26 TTM Q2'25 TTM Change GAAP total charging network revenue $ 61,421 $ 51,828 19 % $ 117,138 $ 98,926 18 % $ 236,557 $ 188,491 26 % GAAP charging network cost of sales 39,2
Slide 30: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP (unaudited, dollars in thousands) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 GAAP total charging network revenue $ 218,345 $ 155,672 $ 74,244 $ 31,302 $ 18,806 GAAP charging network cost of sales 132,588 97,116 54,911 26,536 16,194 Charging Network Gross Pro
Slide 31: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP (unaudited, dollars in thousands) Q2'26 Q2'25 Change Q2'26 YTD Q2'25 YTD Change GAAP revenue $ 82,648 $ 98,030 (16)% $ 192,179 $ 173,317 11 % GAAP general and administrative expenses $ 44,358 $ 40,596 9% $ 90,363 $ 79,224 14 % GAAP general and administrat
Slide 32: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP (unaudited, dollars in thousands) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 GAAP revenue $ 384,086 $ 256,825 $ 160,953 $ 54,588 $ 22,214 GAAP general and administrative expenses $ 176,868 $ 141,131 $ 143,015 $ 126,713 $ 71,086 GAAP general and administrativ
Slide 33: Leverage & Liquidity
LEVERAGE & LIQUIDITY TOTAL AVAILABLE LIQUIDITY OF $835 MILLION CASH AND DEBT LIQUIDITY As of As of ($ millions) June 30, 2026 ($ millions) June 30, 2026 Cash, Cash Equivalents & Restricted Cash $198 Cash, Cash Equivalents & Restricted Cash $198 Debt DOE Loan $409 DOE Loan1 $226 Credit Agreement $153
Slide 34: Equity Value & Enterprise Value
EQUITY VALUE & ENTERPRISE VALUE EQUITY VALUE ENTERPRISE VALUE (millions) As of June 30, 2026 ($ millions) As of August 3, 2026 Class A S/O 141.1 Equity Value $505 Class B S/O 172.8 As of June 30, 2026 Total S/O 313.9 Less: Cash, Cash Equivalents and Restricted Cash $198 As of August 3, 2026 Add: Deb