GridStrong Annual Shareholder Meeting -- April 2026

BOARD OF DIRECTORS’ MEETING

April 2026 Working Session

April 22, 2026

WORKING SESSION AGENDA

Four topics. Continuity from January 2026.

01

FDO Program — Single System of Record in 90 Days

6 legacy systems replaced at Engie. 40K+ records imported. Ninety-day path to operational.

02

Product — April 2026 Major Release

File management, workflow automation, model read/write functionality.

03

ISO Flywheel — MISO + DOE Results

MISO CSA executed. DOE AI4IX $2.4M, 3 additional ISOs. 4 of 7 system operators.

04

Financial Performance & Growth

Q1 revenue, ARR waterfall, land-and-expand cohort, cash position.

TOPIC 1

Single System of Record in 90 Days

WHAT WE SAID IN JANUARY

Recap from the January 2026 board deck for continuity

Vision

Embedded GridStrong leadership drives a repeatable quarterly readiness program.

Model

Forward Deployed Compliance + Forward Deployed Power Systems Studies.

Delivery

Q1 gap assessment, Q2+ execution with quarterly targets.

Buying Model

Annual subscription by tier — Essential, Accelerated, Enterprise.

In January, we contracted. Now let’s talk about what happened.

6 LEGACY SYSTEMS REPLACED IN 90 DAYS

At Engie North America — all replaced by one platform: GridStrong Dashboard

#	Legacy System	What It Did	Status Before GridStrong
1	SharePoint	Document management	402,688 files, 953 GB (~1 TB) across siloed ISO libraries
2	Archer (RSA)	GRC platform	NERC module only — no ISO coverage
3	Internal spreadsheets	Compliance tracking	Manual, fragmented, incomplete
4	Email threads	RFI response tracking	Ad-hoc, no visibility, frequently late
5	Ticketing system	Task management	Disconnected from compliance context
6	Point compliance tools	RadianGen, etc.	Overlapping, uncoordinated

HOW WE DID THE MIGRATION

402,688 files · 953 GB (~1 TB) · migrated in ninety days, first time

Source

SharePoint

➜

Preserve

Amazon S3

files + metadata intact

➜

Map

GridStrong Schema

within S3

➜

Auto-sort + Populate

File Manager

Librarian places each file

1

SharePoint → S3: full fidelity migration preserving every file and every piece of metadata exactly how SharePoint maintained them.

2

S3 → GridStrong schema: mapped the customer’s folder structure and naming onto our canonical schema — the bulk of the engineering lift.

3

S3 → File Manager: imported into the Dashboard. The Librarian automatically sorted files and populated the entire Dashboard with the right files in the right places — like magic.

WHAT THE CUSTOMER IS SAYING

Chris Gallo, Director of Compliance at Engie North America

“We’ve taken weeks of modeling and study work and been able to comprise it into about five minutes.”

Reviewing the PRC-029 automated workflow running against their fleet

“GridStrong will be able to replicate and replace Archer if it’s done correctly. And there’s also a possibility for GridStrong to ingest any time an email comes from a regulatory body, apply what the email is referencing, and create requirements and tasks in the GridStrong platform that will populate to task owners.”

— Chris Gallo, internal compliance meeting

“Once this is done, we’ll probably have one of the best-in-class compliance programs in the industry. We will be miles above where we were last year, and we will have a progress track record to show how effective we have been.”

— Chris Gallo, internal compliance meeting

BEYOND THE FILES

43,728 records imported into the Dashboard alongside the file migration

Record Type	Count	What It Unlocks
Users	66	Full Engie directory with multi-company access, SSO-ready
Plant role assignments	134	Regional managers, plant managers, NERC CIP leads — mapped per site
Standard compliances	1,926	NERC + ERCOT compliance scope for every plant, with tracking mode
Requirement compliances	40,937	Individual regulatory requirements attached to each plant’s standards
Tasks	505	Active work items across ERCOT deliverables, RFIs, commissioning, modeling
Authority requests	160	ERCOT authority correspondence, resolved to owner users
Total	43,728	One import sequence. Full operational state in the Dashboard.

What this means — when the Librarian finishes sorting files, the Dashboard already knows who works at each plant, which standards they’re accountable to, which requirements are open, and which tasks are in flight. The file manager is one part of the system of record; the non-file imports make the rest of the platform live from day one.

TOPIC 2

Product — April 2026 Major Release

APRIL 2026 MAJOR RELEASE

Massive automation capabilities now live · customer onboarding meetings scheduled across the portfolio

01

File Management + Plant Profile

Finder-style file manager with Librarian auto-sort. Every plant gets a living profile extracted from the imported files — OEM, ratings, trips, capability flags — ready for every downstream workflow.

02

Workflow Automation

Plant profile automatically populates and assesses each workflow. PRC-029 auto-assessor applies 30+ conditional rules against the profile. The Excavator mines source files for values that aren’t yet structured.

03

Model Read / Write

Parse PSCAD and PSS/E, verify against as-left settings, detect conflicts, update models in place. Build models from scratch when the OEM hasn’t delivered. Model verification is now a data operation, not an engineer-hours operation.

04

Fleet-Level Operations

Tasks, RFIs, and workstreams managed at the fleet level, not plant-by-plant. Full-featured task system. Automatic ingestion and assignment of ERCOT RFIs, MIRs, and regulatory correspondence — email in, task with owner out.

FILE MANAGEMENT PLATFORM

Replacing SharePoint, Box, and Drive for compliance document management

Interface & Data

Finder-style interface (not Explorer-style)
S3-backed storage with version control
Smart folders (saved search expressions)
System scaffold: 500+ declarative folder nodes per plant

Navigation & Access

Breadcrumb navigation, drag-and-drop, contextual upload
RBAC: folder-level permissions per company
Full-text search with plant-scoped filters
Audit trail on every read, write, and permission change

Why this matters

Every FDO engagement starts with migrating the customer’s documents. This platform is the destination — Engie proved the pipeline, every subsequent customer lands here.

PRC-029 AUTOMATED WORKFLOW

Massive backlog across the industry — we’re deploying automation to scale exponentially

What the Workflow Does

30+ auto-populated fields from plant profile data
Compliance charts with standard envelopes (voltage, frequency)
Assessment automation with provenance notes
Conditional dependencies (“if capability X, then assess Y”)
Trip curve visualization + model verification
End-to-end: onboarding → as-left settings → R1-R4 assessment → report

The Scaling Advantage

Traditional consultant

One study at a time, 2+ months each, linear scaling

GridStrong automated

Parallel execution, hours to days per study, exponential scaling

What Still Requires Humans

Engaging OEMs for proprietary firmware details
Finding information the owner simply doesn’t have
Reconciling field observations that contradict documentation
Resolving ambiguous data and requirements

AUTOMATED IBR MODEL VERIFICATION

Closing the model-to-field gap at industrial scale — deterministic, not heuristic

The Problem

2,600 GW in interconnection queues — 80% IBR
Dynamic models frequently don’t match installed settings
Manual review: 4–16 hours per plant, subset-based
Root cause of Odessa I (2021), Odessa II (2022), Blue Cut Fire (2016)

The GridStrong Pipeline

Three-way verification — as-left / PSCAD / PSS/E
13 OEM adapters + generic fallback across all major inverter manufacturers
Exhaustive accountability — every parameter mapped or explicitly excluded
Deterministic output: Match, Conflict, or Incomplete

1,302

PARAM_MAP entries

1,119

Canonical symbols

103

PSS/E fields per plant

13

OEM adapters

52

Structural checks

< 1 sec
per plant (vs 4–16 hrs manual)

Complements MOD-032 (submission) and MOD-033 (system validation) with plant-level verification. Scales to the thousands of plants needing verified models.

TOPIC 3

ISO Flywheel — MISO + DOE Results

THE MQT FLYWHEEL

Set up. About to turn. Built around Model Quality Testing.

The asset being built

A repository of the most valuable data in the grid — a dynamic model of every node, verified against as-left settings.

One platform used by the ISO and by the GO/GOP. Eliminates work for the ISO. Eliminates uncertainty for the GO/GOP.

DOE AI4IX PROGRAM

$2.4M firm fixed price · GridStrong retains all IP · covers 3 additional major ISOs

Contract Terms

Total contract value	$2.4M
Funding source	DOE BIL
Period	Mar 2026 – Mar 2027
IP ownership	GridStrong
FY26 recognition (M1 + M3)	$900K

Milestone Schedule

Milestone	Value	Status
M1	$500K	Delivered
M3	$400K	Upcoming
M6	$750K	Scheduled
M9	$600K	Scheduled
M12	$150K	Scheduled
Total	$2,400K

Strategic Value

Working with 3 additional major ISOs through AI4IX. Combined with MISO, this covers 4 of 7 North American system operators — positioning GridStrong as the default platform as each ISO institutionalizes.

TOPIC 4

Financial Performance & Growth

Q1 2026 REVENUE

$1.285M total · 56.2% gross margin · 8.9% net margin

$1.285M

Q1 2026 Revenue

$3.189M

Lifetime Revenue since founding

56.2%

Q1 Gross Margin (Mar)

8.9%

Q1 Net Margin (Mar)

Quarter	SaaS	Prof. Services	Government	Total
Q1 2025 Feb–Mar (founded Feb)	$124K	—	—	$124K
Q2 2025	$216K	$37K	—	$253K
Q3 2025	$488K	$333K	—	$821K
Q4 2025	$654K	$52K	—	$706K
Q1 2026	$716K	$70K	$500K	$1,285K
Lifetime	$2,198K	$491K	$500K	$3,189K

Margin view — Q1 2026 gross margin (56.2%) and net margin (8.9%) reflect a full SaaS + services + government mix. Lifetime totals from founding (Feb 2025) show the step function in Q3 2025 (Engie expansion) and Q1 2026 (DOE M1, PRC-029 studies).

LAND & EXPAND COHORT

Lifetime bookings $4.93M (excl. DOE) · expansion ACV $4.10M · 14 active customers

Customer	First Contract	Contracts	Land ACV	Total ACV	Multiple	Current ARR
Intersect Power	Feb 2025	27	$7K	$387K	55.3x	$316K
AES	Feb 2025	3	$22K	$607K	27.6x	$313K
Engie	Feb 2025	8	$118K	$1,477K	12.6x	$1,107K
Orsted	Feb 2025	4	$77K	$741K	9.6x	$580K
Akuo	Mar 2025	2	$38K	$226K	5.9x	$188K
Invenergy	Feb 2025	3	$99K	$469K	4.8x	$371K
Southern Company	Feb 2025	4	$96K	$329K	3.4x	$184K
Top cohort				$4,236K		$3,059K

Land pattern — small initial contract (often a single study or site) followed by portfolio expansion within 90 days. Expansion ACV consistently dwarfs initial land ACV across the cohort.

CASH, BURN & PRICING

$9.5M total runway · 32 months · three maturing revenue streams

$9.5M

Cash & equivalents

$7.1M

Cash on hand

$2.4M

Contracted DOE

32 mo

Runway (to Nov 2028)

Burn Profile

Q1 monthly burn (actual)	$401K
Forward monthly burn	~$325K
Total Q1 operating expenses	$405K/mo
Zero cash date	Nov 2028

Pricing Maturation — 3 Revenue Streams

SaaS

Module-based, per-plant. Subscriptions to software + services for recurring obligations and workstreams.

Services

Two kinds. (1) work we haven’t yet automated, and (2) work we can’t automate.

Government

Milestone-based, lumpy. DOE AI4IX $2.4M. Validates platform + covers 3 additional ISOs.

ORGANIZATION

GridStrong + Elevate Energy

Tom Scaramellino

CEO

SOFTWARE + FDO

Ryan Quint

President

CONSULTING SERVICES

Anushka Makhija

Chief of Staff

Teddy Kramer

Operations

Tim Gildea

CTO

Grant Hutchins

VP Software Eng

Manuel Aristaran

Dakota Berg

Diego Algorta

Chris Colson

Jacek Juraszek

Eirik Dentz Sinclair

Mehboob Shrivastava

VP FDO

Poria Astero

Sr. Dir. Power Systems

Ocean Islam

Charles Yeung

Dir. Compliance

Ari Wigder

Kyle Thomas

VP Compliance

Jeff Zhao

Ana Ospina

Robert Orndorff

Sing Tay

Sirisha Tanneeru

Joseph Ciccarello

Francisco Velez

Jeremy Till

Kasun Samarasekera

Dir. Power Systems

Goodarz Ghanavati

Amin Banaie

Andy Zhou

Nick Giffin

Nancy Mohamed

Dylan Hamilton

Sally Zabetian

Matthew Kulasza

Cristina Conway

Head of Operations

Hayley Quint

Liz Ryan

Megan Zeeb

2026 PRIORITIES

Scale. Expand. Deliver. Displace.

01

Scale PRC-029 Automation

Clear the PRC-029 backlog exponentially. Customer onboarding meetings already scheduled across the portfolio.

02

Onboard into April Release

Deploy file management, workflow automation, model read/write, and fleet-level operations to every active customer.

03

Deliver DOE Milestones

M3 ($400K) upcoming. M6 ($750K) and M9 ($600K) scheduled. Stay ahead of the milestone schedule.

04

Expand FDO

Apply the ninety-day playbook to the next asset owner. Every deployment compounds the playbook.

05

Commercial ISO Expansion

Convert ISO relationships (MISO + DOE cohort) into additional commercial MQT-style contracts. Each ISO that institutionalizes us pulls asset owners with it.

06

Event Data Ingestion

Stand up the ingestion pipeline for PMU / SCADA / event data from customer fleets. The data moat behind every downstream workflow.