SAFE HARBOR STATEMENT

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1 SAFE HARBOR STATEMENT This presentation contains forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995 conveying management s expectations as to the future based on plans, estimates and projections at the time the statements are made. The forward-looking statements contained in this presentation and that may be made by the presenter involve risks and uncertainties, including, but not necessarily limited to: ENER1 s ability to deliver prototype, production samples and finished product to electric vehicle customers; the estimated future sales for ENER1 s electric vehicle batteries; the degree of competition in the markets for lithium battery, fuel cell and nanotechnology-based products and services; our ability to procure, install, integrate, start-up and efficiently operate new equipment; ENER1 s history of operating losses; the lack of operating history for the development stage ENER1 businesses; the need for substantial additional capital; the dependency upon key personnel; and other risks detailed in ENER1 s annual report on Form 10-K for the year ended December 31, 2009 as well as in its other filings from time to time with the Securities and Exchange Commission. These risks and uncertainties could cause actual results or performance to differ materially from any future results or performance expressed or implied in the forward-looking statements included in this presentation. ENER1 undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. DECEMBER ///

2 TARGET MARKETS & KEY STRATEGIC PARTNERS GLOBAL SUPPLY STRATEGY CELL MANUFACTURING Global Footprint North America, Asia BATTERY PACK ASSEMBLY - Near the Customer Lower Capital Investment Logistics Save JIT-WIP Save TRANSPORTATION Passenger Vehicles, Light-Duty Fleet, Heavy Duty Buses and Military GRID STORAGE Transmission and Distribution, Generation, Renewable Energy, Utility End Customers CONSUMER Small Cell Batteries for Cell Phones, PDAs, Hand-held Scanners R&D / MANUFACTURING ENER1 / CORPORATE HQ / NYC, U.S. ENER1 EUROPE / SALES & MARKETING / Paris, France ENERDEL / Indianapolis, IN, U.S. ENERDEL / Noblesville, IN, U.S. ENERDEL / Mount Comfort, IN, U.S. ENERDEL / R&D CENTER / Japan ENERTECH / Korea WANXIANG (LOI) / SHANGHAI, CHINA 3 4

3 ELECTRIC VEHICLE CHAIN INVOLVEMENT & SOLUTION AUTOMOTIVE: 2010 CUSTOMERS THINK GLOBAL Currently shipping to: Liander, Ringeriks-Kraft, Tronheims-Energi, Sundal Energi, Vattenfall Energi, Fortum, Gavle Energi, and Red Electrica Only EV with the European CE conformity certification and EU homologation requirements (M1 certificate); 19 years developing the most sophisticated EV drivetrain system in the world Approximately $300 mm invested in THINK through combination of FORD investment and private placements. ENER1 31% shareholder in THINK VOLVO CAR CORPORATION Exclusive Battery provider for C30 PEV (24 kwh, 150 km range) C30 is scalable to the S40, S60 and V50 platforms SOP in 2011 for Europe, with US and China to follow JAPAN POSTAL SERVICE Japan Post currently electrifying 25% of their 22,000 vehicle fleet ENER1 is retrofitting Japan Post vehicles with the THINK drivetrain and EV battery pack Postal fleets in France, the UK and Germany alone approach 90,000 vehicles 5 6

4 ENER1 PRODUCT / CHEMISTRY PORTFOLIO PRODUCT & TECHNOLOGY Cathode (+) Anode (-) LiMn 2 O 4 (LMO) Hard Carbon LiMn 2 O 4 (LMO) Li₄Ti 5 O₁₂ (LTO) Mixed Oxide Hard Carbon High Voltage Spinel Li₄Ti 5 O₁₂ (LTO) Development Status Production Ready Gen 2 Development Production Ready Gen 2 Development Ener1 has selected hard carbon or LTO anode due to the long life, low temperature, low impedance and safety requirement in Automobiles. This is combined with high energy density cathode that exhibit similar performance characteristics.

5 MODULAR ARCHITECTURE TRANSPORTATION TO GRID: SECONDARY USE CONCEPT Module Battery Electric Vehicle Matured Vehicle Battery Commercial Application Rack Robust Sub-System Design & Integration Required For a Successful Energy Storage System (ESS) Solution 9 Substation Frequency Response & Demand Reduction 10

6 TSUKUBA: A GREEN PROTOTYPE COMMUNITY Convenience Store City Hall CONVENIENCE STORE: CHARGEMART COMBINING IT ALL TOGETHER PV Arrays, IES (ENERDEL) PV Arrays, IES Solar Panels Rapid Transit System Mazda 2 (EV) ENER1 Battery EV Service Station IES Fast Charger Data Center PV Arrays, IES EV

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