Slide 1: Technologies for Clean Air & Pure Water
Technologies for Clean Air & Pure Water Investor Presentation August 2024
Slide 2: Safe Harbor
Safe Harbor This presentation contains “forward-looking statements” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which re made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1985 and reflect Fuel Tech's current ‘expectations
Slide 3: Fuel Tech: At a Glance
Fuel Tech: At a Glance 30+ YEAR HISTORY OF THREE a al SERVICE & ACCOUNTABILITY & Air Pollution Control — FUEL CHEM? Chemical Technologies & Dar uerowedces + Emissions control solutions installed in 27 countries with offices in the U.S. & Europe ‘+ 1,300+ installations across 4 continents, + 180,500
Slide 4: Investment Thesis
Investment Thesis © Established provider of solutions for emissions control and water treatment in industrial and utility applications. © Global leader in nitrogen oxide (NO,) reduction technologies; also address SO,, ABS, PM2.5, and CO>. Capturing APC and FUEL CHEM ® growth opportunities; dynamic r
Slide 5: (sins)
(sins) sas $269 [ | i (sins) saa $28 FY 2022 FY 2073 1H 2026 ! INVEST (inns) sanz $004 FY 2022 FY 2023 1H2024 $147 444 gras FY 2022 FY 2023 6130/2024 Fy 2022 FY 2025 6/a0/2024
Slide 6: Emissions Control: Diverse, Customizable, & Low Cap-ex Solutions
Emissions Control: Diverse, Customizable, & Low Cap-ex Solutions LNB, OFA, + AIG: Ammonia Injection Grid + GSG~: Graduated Straightening Grid + HERT™: High Eneray Reagent Technology + NO,OUT®: SNCR using high momentum injectors, ices: optimizing proc ection, improving the overall ormance of § rature
Slide 7: Custom Process Modeling Used to Support Customer Applications
(2) Custom Process Modeling Used to Support Customer Applications Proprietary Software with Strong IP Protection * Patented Technology + Provides an intuitive interaction between the Models and Design Engineers Computational Fluid Dynamics (CFD) Model * Customized for each boiler + 800+ models creat
Slide 8: Reduces NOx emissions and other pollutants
Reduces NO, emissions and other pollutants from stationary combustion sources. Improves the efficiency, reliability and environmental status of power plants. Enhance process applications or mitigate environmental issues within the municipal and industrial water sectors.
Slide 9: Air Pollution Control (APC) Segment
Air Pollution Control (APC) Segment Capital project / fixed price sale with turn-key capabilities + Typical customers: fossil fuel-fred utities and industrial boilers 30% - 95% er ions reduction across APC (NOx, SOs, and PMz5 ) solutions portfoli Pursuing $50 - $75 M long-term project pipeline Recei
Slide 10: 80% Reduction in NOx
@ a 80%t Reduction in NO, 60% = 95% reduction in NO, 30% - 50% reduction in NO, * Injection of $03 and lammenia into fue gastoimrove operation of Electrostatic Precptatrs (ESPs) + Reduces ty ash resistwty and improves ESP capture of fine particulate for reduced opacty and + Technology proven ‘on ove
Slide 11: Integrated NOx Reduction System
ion System I-NO,®: Integrated NO, Reduc Can be applied as both a retrofit sol existing units or new gener Or Combined technologies, capable of NO, reduction >95% & High performance with low cap-ex Investment 9 unit Fuel Tech has installed ‘systems or sub-systems (on 800+ units worldwide A 20,000+ NW
Slide 12: Natural Gas & Renewables Continue to Grow as Coal Declines
@ Natural Gas & Renewables Continue to Grow as Coal Declines Generation of U.S. Electricity by Source (KWh in billions) 2800 ‘200 902 +800 4000 oy 75 Pa ors ° Fuel Tech Revenue by Fuel Source @ 4 NaturalGas Other
Slide 13: FUEL CHEM / Chemical Technologies
FUEL CHEM® / Chemical Technologies Boiler Efficiency Improvements that Drive Operational, Financial, & Environmental Benefits + Reduces slag and a variety of pollutants and greenhouse gases REVENUES + Mercury / SO, & Acid Plume Issues / Ammonium Bisulfate (ABS) / CO and CO, «se + Allows customers to
Slide 14: Delivering Improved ROI
© Delivering Improved ROI Availability / Reliability Efficiency Gains / Heat Maintenance Benefits / Labor REDUCE + Service interruption or degradation + Derates arising from slag shedding and burner anomalies + Water lance/water cannon usage + Forced outages + Planned outages + Downtime for outages
Slide 15: Coal/Oil | Yard Waste | Demo Waste
Coal/Oil | Yard Waste | Demo Waste Logging & Mill Residue | Wood Chips Switch Grass | Forest Residue
Slide 16: TIFI Targeted In-Furnace Injection Programs Mitigate SO3
TIFI® Targeted In-Furnace Injection™ Programs Mitigate SO; PUNTA PRIETA/ LA PAZ, MEXICO LONG-TERM OPPORTUNITY CFE Combi Federal de Eletriiad” + Pursuing opportunities with partner in Mexico to burn high-sulfur fuel oil produced by Pemex + Atpresent, this oil is largely being burned without pollution
Slide 17: Dissolved Gas Infusion
i Dissolved Gas Infusion Efficient oxygen delivery for water & wastewater treatment processes across industries + Effective, flexible, and environmentally-friendly + Patented infusion vessel and patent-pending injector array to ensure effective dissolved oxygen (DO) delivery + Oxygenation technology
Slide 18: DGI can be used to:
DGI® can be used to: ol Enhance or increase capacity of underperforming =. > > aeration systems Deliver industrial and remedial process INJECT intensification Provide supplemental oxygen for existing operations Deliver residual DO at higher concentrations and dosing rates Meet demand immediately for
Slide 19: Multiple System Benefits, Capabilities, & Applications
i Multiple System Benefits, Capabilities, & Applications AQUACULTURE + Precise control of dissolved oxygen + Improve animal health and growth rates + Increased production proven on shrimp farm trial @} FOOD & BEVERAGE PRODUCTION + Increasing aeration capacity and flexbilty + Ensuring wastewater is s
Slide 20: Pilot study at Royal Caridea shrimp farm
‘Commenced pilot study in Q2 2023 testing DGI® technology as a solution to provide ‘oxygen on demand at Royal Caridea’s land-based shrimp farm in Arizona, Goal was to determine the effects of raising Pacific Whiteleg shrimp in low salinity water with dissolved oxygen levels at or slightly above satu
Slide 21: 2024 Outlook
2024 Outlook Air Pollution Control (APC) #82) + APC equipment deliveries to customers internationally and domestically expected in Q4 and the first half of 2025 as ‘execution occurs on project backlog + Incremental APC orders expected in the second half of 2024 + Continue to monitor legislative acti
Slide 22: Financial Overview
Financial Overview Statement of Operations Summary 4H 2024 FY 2023 FY 2022 Total Revenues $11,999 $27,081 $26,941 Cost of Sales $7,018 $15,425 $15,208 Selling, general and administrative expenses ‘$6,590 $12,803 $12,275 Operating loss ‘$(2,407) $(2,658) $(1,527) Net loss $(140) $(1,538) $(1,442) Net
Slide 23: Thank You!
Thank You! © ftekcom Vince Arnone Chairman, President and CEO @ (630) 845-4500 @ vamone@ftekcom EQUITY GROUP Devin Sullivan ‘Managing Director © dsullivan@equityny.com Conor Rodriguez Analyst © crodriquez@equitynvcom