Exhibit 2: Solving for max grid upgrade

Electricity costs are are assumed to be $0.17/kWh and DCFC charging price is assumed to be $0.35/kWh. Asset utilization is assumed to be 30%, i.e. chargers are assumed to be dispensing power for about 8 hours per day. Hardware, install, network and data, third party operation and maintenance costs were calculated from estimates found in literature. Transaction processing fees of 10% were added to O&M costs. The maximum grid upgrade cost is the difference between the revenue stream(s) and expenses

Source: RMI, https://rmi.org/wp-content/uploads/2019/09/DCFC_Rate_Design_Study.pdf; RMI, https://rmi.org/wp-content/uploads/dlm_uploads/2021/01/RMI_Insight_Brief_Accelerating_EV_Transition-1.pdf; RMI, https://rmi.org/insight/reducing-ev-charging-infrastructure-costs/, ICCT, https://rmi.org/insight/reducing-ev-charging-infrastructure-costs/; GSMP,https://gsmp.world/wp-content/uploads/2021/11/211101-ZEV-Alliance-Policy-Advice_branded_Final.pdf