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VNG Sierra Club v. EPA 18cv3472 NDCA VNGis building s network ofretail compressed mimai gas fueling locations to sarwa light-duty vehicles. Our mission is to bring a cheaper, cleaner, domestic transportation fool to ail U.S. drivers. Tiers 8&9 ED 002061 00119244-00001 Overview # VNG delivers customer satisfaction and best fueling experience for LD NGVs # Large market opportunity: Light-duty ~75% of total fuel ($320 billion) -- Lower/more stable-priced, cleaner and domestically abundant fuel -- Optimal solution for most popular/profitable vehicles - light-trucks (e.g., pick-ups) -- Environmental benefits and pathway to Renewable Natural Gas (RNG) # VNG build-out strategy of fleet fueling, gasoline station co-location and grants reduces capital risk while generating attractive returns Major tailwinds: New Administration receptivity to natural gas, EPA CAFE regs, RNG, low-NOx engine ~35 LD NGV models available from OEMs & upfitters (e.g., F150 most popular vehicle) Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&t9Jo r Distribution ED 002061 00119244-00002 VNG Background # Operational in top-tier markets - Dallas, Houston, Milwaukee & Philadelphia # Growth platform over next several years in new/existing markets with national fleet customer (e.g., California opportunity) # Multi-market agreement with large light-duty fleet with large NGV fleet # Long-term agreements with leading retailers (Circle-K) and major brand approvals (e.g,, Exxon, BP, etc.) Robust regulatory and legislative initiatives supporting and accelerating NGV market development Attractive financial attributes: Capital efficient, no inventory, no station staffing and working capital cash inflow Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&t9Jo r Distribution 2 ED 002061 00119244-00003 VNG Leadership # Founded by proven entrepreneurs of multi-billion dollar companies -- Harvey Lam m -Subaru Founder & former CEO; Sales of $2 billion and market value of $800 million. 55% ROE, 39 straight quarters of EPS growth -- Bob Annunziata-Teleport founder & former CEO; one of first CLECs in telecom industry sold to AT&T for $11 billion. Former Global Crossing CEO; $4 billion sales, grew employees from 150 to 14,000 in 13 months -- Ronnie Lu bn er- representing London-based family industrial group, Chairman of Belron International, world's largest replacement auto glass manufacturer (Safelite in US) Experienced management across major disciplines - fleet sales, retailer sales, station development & operations, and regulatory Highly-regarded and active advisory board with extensive automotive, naturai gas, retail gasoline stations, regulatory, and financial expertise Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&t9Jo r Distribution 3 ED 002061 00119244-00004 VNG Strategy m Provides retail CNG fueling within existing gasoline stations -- Capital efficient - no site acquisition costs and quickest to market Targets light-duty fleets as initial customers to reduce risk -- Early adopters with high fuel use, costs and sustainability mandates -- Availability of in-place fleet NGVs to fuel Leverages all auto sales channels to greenlight station -- Coordinated efforts with OEMs, FMCs, dealerships, and upfitters -- Aggregate demand before establishing or expanding fueling network -- VNG brings customer to the station - not reliant on Mdrie-byMtraffic m Enhance returns with alternative financing - grants and project financing Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&t9Jo r Distribution 4 ED 002061 00119244-00005 # Record of VNG regulatory/legislative success supports market development -- Worked with NHTSA/EPA in 2012 to achieve incentives for NGVs in CAFE & GHG regulations (VNG comments cited in regulations) -- Alternative Fuel Vehicle Development Act - amendment to National Defense Authorization Act in late-2014 ("NHTSA fix") , -- Regulatory Parity for NGVs - amendment to Highway Bill (bi-fuel usage 95.4% of the time as opposed to previous 'i i # Continued pursuit of regulatory initiatives -- Reinstitute Petroleum Equivalency Factor for NGVs -- Eliminate 2:1 tank ratio requirement for bi-fuel NGVs -- Federal $7,500 tax credit for NGVs -- Full-size pickup truck credit bonus for NGVs -- NGV bi-fuel production requirements of OEMs -- Enhanced GHG value for NGVs from RNG Sierra ClubJ uv.l-EJPJA. ,,1,,8cv3472 NDCA Confidential 1T.iersN8o&t9Jo r Distribution ED 002061 00119244-00006 VNG Current Initiatives # Expansion opportunities in current/new markets supported by national fleet -- California opportunity with anchor fleet customer -- Initial Southern CA initiative with follow-on into Northern CA, Chicago, Atlanta & others -- Initial SoCal stations are under agreement, with anchor fleet, grants and available for project lease finance programs (both stations serve light/medium/heavy-duty vehicles) Pursuing leveraging various alternative forms of financing programs -- California station grants (2 awarded) -- TX grants (4 awarded for ~S0% of install cost) ' -- Tariff-based program Pursuing multiple strategic partnerships: --Joint regulatory effort with leading industry manufacturer -- Financing discussions with strategic investors f HI BBB mm il Sierra Clubv. EPA 18cv3472 NDCA Confidential TiersN8&9' or Distribution ED 002061 00119244-00007 Why Now # A convergence of energy, economic, auto industry, and government support creates a significant opportunity for NGV market growth in the U.S. Continued OEM Support Expanding NGV products - 35 models available (Ford 150, GM Impala) Pricing reductions of 15-20% on certain models Abundant Natural Gas Reserves Long-term opportunity for a cheaper, cleaner & domestic fuel Cost & Emissions Benefits of lower cost/stable priced fuel 25% less GHG emissions RNG - 90% less GHGs Retailers "Big Oil" divestiture of gasoline stations creates market of independent retailers Sierra Clubv. EPA 18cv3472 NDCA Fleet Demand Mass market adoption, >18 mm in use worldwide Increasing use of NGVs .... amongi mayor fleets............... Confidential T1.iersN8o&i9Tor Distribution Government Trend of regulatory & legislative support NGVs key automaker solution for CAFE regulations ED 002061 00119244-00008 The VNG Difference VNG provides seamless transition to CNG locating where drivers already fuel: within gasoline stations -- Offers a familiar experience comparable to liquid fuels -- Premium locations with full-service retail C-stores -- Geographic flexibility to serve large fleet customers Unlike current CNG fueling serving heavy-duty trucks, VNG meets the needs of light-dutv drivers -- ~900 public CNG stations, mostly at industrial, refuse municipal and airport sites (vs, 150k gasoline stations) -- Facilities inconveniently located, not supporting fleet productivity and no retail amenities -- Fueling environment for light-duty NGVs, not behind heavv-dutv vehicles Sierra ClubJ uv.l-EJPJA. ,,1,,8cv3472 NDCA Confidential T1ie.rs N8&o9t Jo r Distribution 8 ED 002061 00119244-00009 VNG Ensures Customer Satisfaction # VNG ensures optimal CNG fueling experience -- Fast fill relative to gasoline fueling experience -- Dispenser accepts of all major credit and fleet cards -- Pistol group nozzle similar to gasoline fueling experience m High operating uptime to assure fueling - 2 4 x 7 monitoring of equipment data to ensure maximum operating uptime -- 24x7 call center support for technician dispatch and customer service support -- 24x7 video surveillance for remote support -- Rapid incident response - VNG field ops team and 3rd party support on call 24x7 Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&t9Jo r Distribution 9 ED 002061 00119244-00010 Financing & Use of Proceeds # Since inception, VNG has raised ~$20 million equity and ~$S million grant funding Established critical foundation Built core team of professionals across all key business areas Established strong position with key automotive sales channels and develop relationship with key anchor fleet Create an improved regulatory environment and institute legislation to better support light-duty NGVs m Install initial stations in major markets in for anchor fleet Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&t9Jo r Distribution 10 ED 002061 00119244-00011 VNG Management Team Founder of Teleport Communications Group ("TCG"), one of first and largest competitive loca! exchange carriers in the telecommunications industry. Founder and former Chairman and CEO of Subaru of America; during 23-year tenure undertook market leading strategic initiatives including the introduction of all-wheel drive to passenger cars. CEO of Global Crossing, in 13 months, increased employee base from 150 to 14,000 and achieved annual revenues of $4 billion. Bob Annunziata, Co-founder Achieved highest ROE of any publicly-traded automobile company at 55%, along with 39 quarters of continuous earnings growth. Harvey _dnn, Co-founder Robert Friedman - COO: Formerly with Lazard Frres & Co and one of several founding partners of Invemed Catalyst Fund a private equity fund. Larry Highbloom- CAO: Founder, CEO and President of VINtek, an automotive electronic lien titling company recently sold to Dealertrack Technologies (NYSE: TRAK) Bob Atkinson - Chief Regulatory Officer: Former CRO of Teleport and AT&T Business Services; Director of Policy Research for CITI at Columbia Business School Bill Mitchell - Vice President of Operations: Previously senior manager, Mobil Oil; experience in all aspects of petroleum fuel operations Jack Stull - Director of Regional Field Sales: Former Territory Manager of Lehigh Gas; extensive downstream petroleum, c-store and wholesale distribution experience Jamie Stovall - Fleet Sales Manager: Extensive fleet sales experience as Fleet Sales Manager for Pep Boys Tracy Reyle, Esq.~ General Counsel: Previously Member, Corporate Law at Cozen O'Conner; practice areas of M&A, JVs, commercial contracts, & capital structuring Renee Ebersole- Marketing Consultant: Current director of sales & marketing at Morrison Cogen, a full-service public accounting, tax, and business consulting firm F Tom Sewell -Equipment & Installation Advisor: Expertise in equipment, design, development, installation and construction of over 200 CNG fueling stations Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&l9fo r Distribution 11 ED 002061 00119244-00012 Advisory Board Bob Atkinson: Mr. Atkinson has significant experience in regulatory matters as Chief Regulatory Officer of Teleport and AT&T Business Services. He also serves as the Director of Policy Research for the Columbia Institute for Tele-Information (CITI) at the Columbia Business School. Bob Catell: Mr. Catell served as the Chairman, President, and CEO of KeySpan Energy Corp. since 1997. He served as the President and Chief Executive Officer of Brooklyn Union Gas from 1991 to 1996 and also served as its Chairman and CEO until May 1998. Mr. Catell founded Alberta Northeast Gas Inc. and serves as its Chairman of the Board. Tom Cunningham: Mr. Cunningham served as a Director of Remarketing Strategy for Ford Motor Company, where he was responsible for the total design and implementation of Ford's wholesale used vehicle sales strategy in the United States for all the Ford and Fordaffiliated brands until 2002. Wallace Parker: Mr. Parker served as CEO of Keyspan Services from 2001 to 2007. During this time, he had full P&L responsibility for the largest business group of Keyspan Energy Corp. ($5 billion in revenue). Joe Petrowski: Mr. Petrowski is the current Chairman of Gulf Oil. From 2005-2013, Mr. Petrowski was the CEO of Cumberland Gulf Group (8,000 employees and $13 bn in annual revenues). Earlier in his career, Mr. Petrowski was the President of Louis Dreyfus North America. Mr. Petrowski currently serves on the board of South Jersey Industries, a publicly held energy services holding company for a utility (South Jersey Gas) and other non-regulated businesses. J. David Power: Mr. Power was the founder, Chairman and CEO of J.D. Power and Associates, one of world's premier customer survey companies. Its clients include virtually every automotive manufacturer and importer serving the U.S. market. John Scarpati: Mr. Scarpati previously served as CFO of Teleport for more than 15 years. He subsequently was appointed as CFO of AT&T Business Services Group ($22 billion in revenue). Thereafter, he was appointed Chief Administrative Officer of Global Crossing. John Smith: In his 42+ years with GM, Mr. Smith was responsible for leading the turnarounds of the Cadillac ($8 billion revenue) and Allison Transmission ($2 billion revenue) businesses, as well as for developing G M's restructuring plans for the U.S. Treasury. Mr. Smith also served as G M's first global product planning leader. Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&l9Tor Distribution 12 ED 002061 00119244-00013 VNG Fueling Location Photos Sierra Clubv. ^ 18cv3472 NDCA Confidential TiersNlf or Distribution 13 ED 002061 00119244-00014 Houston - 12300 Veterans Memoria ED 002061 00119244-00015 Houston - 3411 Antoine Drive ED 002061 00119244-00016 ED 002061 00119244-00017 Sierra Club v.' P a 18cv3472 NDCA Confidential T1.iersN8o8t ED 002061 00119244-00018 Philadelphia - 2901 Abbottsford Ave Sierra Clubv. EPA 18cv3472 NDCA Confidential T1.iersN8o&l9fo r Distribution