<b>Bijsluiter</b>. De hyperlink naar het originele document werkt niet meer. Daarom laat Woogle de tekst zien die in dat document stond. Deze tekst kan vreemde foutieve woorden of zinnen bevatten en de opmaak kan verdwenen of veranderd zijn. Dit komt door het zwartlakken van vertrouwelijke informatie of doordat de tekst niet digitaal beschikbaar was en dus ingescand en vervolgens via OCR weer ingelezen is. Voor het originele document, neem contact op met de Woo-contactpersoon van het bestuursorgaan.<br><br>====================================================================== Pagina 1 ======================================================================

<pre>13963942
    Deloitte.
    NortH, Feasibility Study Phase 2:
    Market Development Workstream
                                                  Partnering  to unlock the
    Bid clarification   —
                           Module 1 & 2 deep-dive power  of green  Hydrogen
    Amsterdam, 23 November 2020
                                                                            0768
</pre>

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<pre>13963942
    Today's objectives
                                             1.1.
              DITo No [\V/I GTR {o]}               Expected  outcome
              Change’                        1.2.  Proposed steps
                                             1.3. Data
                                             1.4. Resources and manhours
       2.     Deep dive ‘Market              2.1. Specification  of target market segments
              Development’                   2.2. Customer   intimacy
              (outcome, steps   and data
              discussed within  subsections)
                                             2.3. Customer engagement
                                             2.4  Incorporating data from   customers
                                             2.5 Market   implementation roadmap
                                             2.6 Resources and manhours
       3.     General discussion             3.1  Q&A
                                             3.2 Questions    on  Modules 3-4
                                             3.3 Clarification of the rest of the process
     © 2020 Deloitte The Netherlands
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<pre>13963942
     Overall          approach
     Four interrelated modules define the                                     approach for market development, today we discuss modules                                                              1 and       2,
     but      we     should consider that modules 3 and 4 provide important inputs into these two modules
    Overview of            proposed approach
        Technical                                                                               Market       Development                                                                         Public Affairs
                                                                                                                                                                        Business  case
                                                                Model                                        4.
                                                                                                                                           :
                                                                                                                                                                        (NPV, Risk vs
                                                              structure,                                        Integrated economics                                   reward, Policy
                                                             algorithms
                                                                                                                                                                            zaps]
                                                                                                        |
                                                :
                                           Deloitte                                               @         Market  volumes, prices and LCOHs
                                                                                                                                                                                                        Pol
                                                           LCOH/LCOE                                                                                                                                      olicy
                                          hydrogen
      P10/P50/P90                                              dat                                                                                                                                 instrumen
                                                                                                                                                                                                      Sirumenis
                                                                                                          :                       een
           ;
         views on
                                              and           Moi
                                                           algorithms,                                        and
                                                                                       3. Commercial asset optimization
                                                 i
                                                                                                                                                                                                    required     to
                                         electricity        structure
        cost levels                                                                                                                                                                                   close the
                            2%                                                                                                                                                         [a
                                                                                          !
                                           a
                                                                                    @
                                                                                                          |          N
                                                                                             Volumes, prices and timing per   user segment
         n    supply                                                                                                                                                                                 value gap
             green                                                                                                                                                                                  and justify
                                                          Ender
         hydrogen                                         data and                      pI    OWES fo) L-T@ Te [1g 1a) {Tord
                                                                                                                           Te                                                                          private
                                                         algorithms                                                                                                                                 investment
                                                                       @       Proposition  to customers e.a.
                                          Dd                1. Case for     Change
     @ We will        use an   ‘agile’ way of working with you,    iterating from  a generic    to a fully customized model,       to avoid any bottlenecks and feed the Public Affairs workstream        early on
     © 2020 Deloitte The Netherlands                                                                                                                              NortH, RFP Response Main Document -
                                                                                                                                                                                                      Deloitte
</pre>

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<pre>13963942
     1.   Deep dive ‘Case for Change’
     1.1    Expected output: Important to align                                         on   the purpose of the           case     for   change and the               versions
    WHEN to WHOM is                     key consideration
                                                                                                                                                                                          :
                                                                                                                            Th haat    lightly  ddiff                                              on
                    LRU RVI=T     EY ToT g Ee [ToT ole [15 -&e] yg!            it is needed                                                 J       foront lenses depending
                                                                                                                                                                                         Emphasis for
                     Case for     change                                  Case for    change                            Emphasis for                Emphasis for
                                                                                                                                                                                              internal
                    (January version)                                       (June version)                              Government                    Customers
                                                                                                                                                                                         stakeholders
       Purpose                                                                                                  Purpose
                                for                                                                                                           *
                                                                                                                                                The value  propositionfor       «
                                                                                                                                                                                     Full   data, demand
        +
           Initial/solid   case      change to frame         +
                                                                  Finalised  case for change based on all the »
                                                                                                                 Focus moreonthecostto
           the  project,   and its importance                     analysis, engagements and   modelling          society, environment,          them, possible scenarios,            assurance,      feasibility/low
                                                                                                                 sliemativeoplionsand    most   isks and spportunities, and          risk. low uncertain,
        *
           Used to kick start conversations with             +
                                                                  Used to reinforce key   messages with
                                                                                                                                                                                     signiiieance for sirategy
           customers,:    government and also                     evidence to  use  Re              :
                                                                                                                 of sll demandcommilment—
                                                                                                                 hatonlyaConsortium
                                                                                                                                     i
                                                                                                                                                what others ave considering
                                                                                                                                                 sanitized versions )                and value      case  and
           internal stakeholders                                  internal stakeholders and customers   as                                                                                      is
                                                                                                                 request, but also a                                                 economics       forth
                                                                                                                                                                                                      for the project
                                                                  headu
                                                                                                                 CUSTOMER demand
                                          2                    Are there any other stakeholders or milestones we need to be aware of?
     © 2020 Deloitte The Netherlands                                                                                                                              Bid finalization -
                                                                                                                                                                                     Module 1 & 2     deepdive        4
                                                                                                                                                                                                                        0771
</pre>

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<pre>13963942
     1.   Deep dive ‘Case for Change’
     1.1    Expected output:                        We propose to              use   the   new   decarbonization framework that Shell is                           rolling        out
    globally
     Event in      Singapore led by Shell                    on     decarbonisation                     *
                                                                                                           In the sectorial decarbonisation    partnership     Shell and Deloitte defined             a
                                                                                                           new  framing on     how to think of decarbonisation
                                                                                                        +
                                                                                                           The framework is     being rolled out  globally   and sets the narrative for
                                                                                                           change   within Shell and  externally
                                      DECARBOMISATION READINESS
                                                                FACTORS
                                                                                                        *
                                                                                                           The framework is around readiness to decarbonise and has                     specific
                                                                                                           components
                                                                                                              *
                                                                                                                  Why should we? Demand, regulation,            pressures, etc.
                                                                                                              +
                                                                                                                  Can we?     technology, economics, timeframe, capabilities,                etc.
                                                                                                              *
                                                                                                                  How fast   can  we? pressure, demand,       capabilities,       etc.
                                                                                                              *
                                                                                                                  And  lastly, what  we  need to do about it      —
                                                                                                                                                                     steps, action plan,         etc.
                                                                                                        *
                                                                                                           Benefits of  aligning the framing   are:
                                                                                                              +
                                                                                                                  Showcases coherence and        alignment within          in Shell and     externally
                                                                                                                  with the market
                                                                                                              »
                                                                                                                  Simplifies sharing of key insights
    [              This is not      a  must, but       we    thought could   a nice addition —
                                                                                               what do you think? We will share with you      more   info about it after the call
     © 2020 Deloitte The Netherlands                                                                                                                    Bid finalization -
                                                                                                                                                                           Module 1 & 2 deepdive        5
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<pre>13963942                                                                                                                                                                                                        DIRECTIONAL
     1.   Deep dive ‘Case for Change’
     1.1    Expected output:                 we can       demystify           green       hydrogen, explaining the role of this project and minimizing
     uncertainty
                                                PdgM EAT BS oT ov folghd [Wot     IR {gol   g =
                                                                                                1a F=Co PVR ggCB CEVA 4=To [OTT =T 0 CoTot 0  Tod [OTe [To BEE o ToT gd oT]|Wo  (TTXo [AV=Wo lo Tl 0 [4 o1=T01
                                     Green  H,:
                                     *
                                        Context: pressure and demand for decarbonization increasing, evidence: society, investors/ESG, regulation; enable transition at lowest cost
                                     *
                                        Green H, role: alternative technologies and solutions e.g., electrification are not enough; H2 is an important pillar and has specific role
        Why should we do             *
                                        Hydrogen benefits: Hydrogen provides the advantages and opportunities e.g., safeguard heartland industry, create new green jobs
       this project and why          *
                                        Demand assurance: There is demonstrable demand green H,; overall roadmap, sector develop in pathways, as well as commodity markets
                  now?
                                     NortH, and role:
                                     «
                                        Scale/Integrated: Creating & accelerating industrial “scale” production and deployment of green hydrogen provides benefits, and is required
                                        NortH, role and benefits: This project has benefits that extend beyond this single project (demand generation, learning curve, ..)
                                     *
                                     »
                                        Low risk: The risk profile  of this project is manageable/low if broken into its component parts and compared                       to O&G      projects
                                     *
                                        Addressable barriers: There    are  a number of barriers e.g., lack of    policy support, and      we have clear actions to address           key barriers
           Can    we   do this       *
                                        Technical capabilities: We have technical capabilities and assurance in place to ensure it is delivered on cost and budget
                project?             »
                                        Stakeholders & enablers: All key stakeholders are aligned, and we have a clear governance for systematic management of deployment
                                     *
                                        Economics: The economics can ensure lowest cost for society under specific conditions, and we have minimized the uncertainty envelope
                                     »
                                        Started mobilization:   During the feasibility study we already started       to mobilize the      key stakeholders
        How fast      can we     do
                                     *
                                        Readiness  assurance:   Our startup assessment is      complete,   the faster we start  the better    we are     able to meet the customer demand
            this   project?          *»
                                        Demand acceleration: demand         means we    need to start    soon to be able to meet     specific  milestones
                                     »
                                        Demand   assurance  is secured   (started) for key players
        What do       we   need?     *
                                        Policy Framework with    policy instruments, grants
                                     *
                                        Other...
                                                                                   What other questions and                                   need to provide in the                      for change?
                                                               DO)
                                                                                                                       assurances we                                              case
     © 2020 Deloitte The Netherlands                                                                                                                                       Bid finalization -
                                                                                                                                                                                              Module 1 & 2 deepdive 6
                                                                                                                                                                                                                         0773
</pre>

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<pre>13963942
     1.   Deep dive ‘Case for Change’
     1.1    Expected output:                       We will  highlight the key role of this project                   in  eliminating barriers      to renewable
     energy cycle
     Fully decarbonized               energy system
                                                        Sun                                        Wind                                   Hydro
                                                                                                                                                                  Higher volume        and
      Costs closer to
                            grid-
                           parity   b                                          Renewable   electricity generation
                                                                                                                                                             4    further cost reduction
                                                                                                                                                                  needed
                                                                              losses                                                                              Breakthrough        cost
                                                                      Energy
                                                                  e                  b                                                                            reduction needed
                 Transmission                                                                    |
                                                                                                                                          ¥2
                   constraints                                               lacie
                                                                                                                                  0,
                                                                      infrastructure        Storage
                                                                                                                                          l
                                                                                                                                                                  Existing technology to
                                                 |
                                                                 y
                                                                                                |,
                                                                                                    H             H,               Yo   LOHCs
                                                                                                                                                                  stabilize   H,
                                  Capacity    and time        Battery        Energy          Power                      Lack of
                                                                                                                                           |                      (e.g. with nitrogen  to
                                            constraints                        0sses
                                                                                                    :
                                                                                                                        inf
                                                                                                                        Infrastructure
                                                                                                                                                                  ammonia     NH)
                                                              storage                      generation                                    XH
        Environmental and
                                                                 |                              L.
     geopolitical     desire to
                  decarbonise
                                          Household          Office
                                                                                   Carbon free
                                                                           Light transport
                                                                                                consumption
                                                                                                     Heavy transport          Heating  Feedstock
                                                                                                                                                            4 Sriing Smerding
    Source: Deloitte   project interviews (2020)
     © 2020 Deloitte The Netherlands                                                                                                         Bid finalization -
                                                                                                                                                                Module 1 & 2 deepdive      7
</pre>

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<pre>13963942
     1.   Deep dive ‘Case for Change’
     1.1    Expected output: deep policy experience is the key enabler for the success of this project, and                                                                                              we     will
     bring you the empirical knowledge and insights from a long history of field-work
    Our     policy knowledge and experience
                               Cl      Understanding  "ng of regulations
                                                                Jas          P per
                                                                                         £2 Developing
                                                                                              oo]
                                                                                                              scenario
                                                                                                                      RIV
                                                                                                                           on   how these
                                                                                                                                                        (3) Being        close to the         “pulse of the
                                                                                                   [s MEV  IVER ls
                                                                                                                To         EV RV/eTING T-T-To B (s E0
                                                                                                                                                              Tale [VES d VAT]      F-1 ofCEVA 1 Clg Tod [a [oT £0 da 11]
                                       country and     at an EU level
                                                                                              “move the dial”                                                 1g 1s Mal=1=s
      Our  capabilities          *
                                     Support companies and advise governmentson           +
                                                                                            Have  deep capabilities    in scenario   planning            *
                                                                                                                                                            Engage systematically with key             ministries and
           best suited
                                        ici               i                                                                                                 instituti
      are                                      and                                                                                                          institutions that define market and
                                     policies      regulation                               Understand what events and
                                                                                                                                                                                                            policy
      to
                                                                                          «
                                                                                                                               policies   ean
         support in                              ;              )                                                  :                                        frameworks
                                 *
                                     Have detailed   understanding of current               support the   economics
      three key areas                        }            .
                                     regulations and policies, their merits and what
                                     can be improved
                                 »
                                     Advising the European    Commission   on   the       »
                                                                                            NVDE   membership,     in addition to direct                 +
                                                                                                                                                            Submitted various applications for the IPCEI
                                     Hydrogen Act                                           contacts, enables   us  to share bottlenecks in                 Hydrogen      Interest    Survey
                                     Advised the UK Government         their         for    subsidy and   tax legislation with    Ministries
                                                                                                                                                            Submitted various
                                 *
                                                                    on        tender                                                                     +
                                                                                                                                                                                       subsidy applicationsat
                                     the Front End Engineering and Design (FEED)            Played major role   SDE++ program        development            national and European level, for example
                                     contracts for Carbon Capture and Storage                                                                               applications related to the Innovation Fund and
                                                                                          »
                                                                                            Supporting development of        new   tax  legislation
                                                                                                                                                            Horizon 2020
                                 »
                                     Early access to grant program concepts before
                                     they are enacted, enables us to influence
                                     programs
                                                                                                                                                                                                        (10)(2e)
                                        We will     leverage existing bodies of work, grants                 & incentives          expertise          and  our   expert panel
     © 2020 Deloitte The Netherlands
                                                                                                                                                                           Bid finalization -
                                                                                                                                                                                              Module 1 & 2 deepdive       8
                                                                                                                                                                                                                            0775
</pre>

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<pre>13963942
     1.   Deep dive ‘Case for Change’
     1.2    Proposed steps:                    our     proposal addresses                     most of the areas in the                     deepdive and               we     have made
     refinements where needed to reflect the clarifications
                                                                                                                                                                                                        Refinements
                                  *
                                     Collect latest (NL, DE, BE and  European) government emission ambitions
      ESTEE                       +
                                     Identify and evaluate   potential   of alternative competing technologies to reduce    emissions
               case
                                  *
                                     Quantify emissions reductions       in hard-to-abate sectors in EU, with a focus on NL, BE and DE and the gap that needs   to be closed by Hydrogen        in 2050 as  part of a
                                     renewables-based and reliable net-zero energy system
                                  *
                                     ldentify hydrogen projects under development in NL, BE and DE and Europe as a whole, and quantify their potential production, as well as potential import scenarios
        1.2 Demonstrate           *
                                     Quantify gap between projected hydrogen production/import with current projects and production/import required for decarbonisation ambition in 2050
             need for             =
                                     Show criticality to starting with large-scale projects (vs. alternatives) with an integrated value versus alternative scenarios
                                  *
                                     Work backwards to indicate short-term implications for 2030, linking to 2030 National and European supply targets in Hydrogen strategies and indicating the gap
       SE  Lal Rte
                                  ©
                                     Demonstrate what it takes to build green hydrogen supply
      Tee Ear                     *
                                      Qutline time required to establish a well-functioning commodity market for H2
                                  *
                                     Collect key hydrogen policy frameworks in Europe and globally, with a focus on leading hydrogen geographies,         e.g. Japan and China
                                  »
                                     Establish a view on a hydrogen market development in NL, BE and DE under current policy frameworks
                1.3               *
                                     Prioritize sectors and sectoral    policy options
       soc FLUE
                                  ©
                                     Develop a view on required high-level policy frameworks with input from Public Policy & Communications workstream             needed to kick-start the market       over  time
       policy frameworks             including any interdependencies
                                  *
                                     Develop demand scenarios under key policy frameworks
                                  *
                                     Demonstrate benefits large and early private and public investments in integrated green hydrogen megaprojects
                                  *
                                     Write out  an  easy to digest, four-stage compelling narrative; inline with high level story described before
                                  *
                                     Collate  key inputs  from other modules
     1.4 Create   compelling      *
                                     Hand-over ‘Case for Change’ document to Public Affairs workstream to facilitate conversations with policy makers        on  establishing necessary yet realistic      policy
            narrative                framework and     requirements for NortH,
                                  »
                                     Update public NortH,-narratives for Consortium stakeholders
                                                               D)    [®
                                                                                Anything specific you       still see  missing from     our  chat  so  far?
     © 2020 Deloitte The Netherlands                                                                                                                                       Bid finalization -
                                                                                                                                                                                              Module 1 & 2 deepdive   9
                                                                                                                                                                                                                        0776
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<pre>13963942
     1.   Deep dive ‘Case for Change’
     1.3 Data:            we     integrate information and insights from external sources, NortH, phase 1, and workstreams                                                                     in
     NortH, phase 2 to craft a compelling and convincing narrative for public and private sectors
     Data    sources        —
                               EXAMPLES
                                                               National and   supranational rules and regulations, both current and future
                                                               (e.g. Proposed European Hydrogen act)
      External
                                                               Public policy, country strategies, goals and targets                                      January
                                                               Studies, reports and publications, including ones by our expert panel                      version
                                                                                                                                                          of  case
                       North, feasibility                      Outcomes of the    heavy lifting done until today, incorporating technical,
                                 Phase 1                       market and policy learnings wherever available
                       study:
                                       Public affairs          Insights and data from the public affairs workstream      as  it is generated
                                                               through research and stakeholder dialogues
                                       workstream
                                                                                                                                                                                 cal)
      Internal                         Technical               Insights and data from the technical workstream      as it is generated through
                                       workstream              research, pilots, and testing                                                                                    Compelling
      INCI    Va Pl    NEE                                                                                                                                                             and
      project          feasibility                             Customer and market demand        insights resulting from network                                                 o{0]al"1aleilg] 8
                                                  Module 2                                                                                                 June
      OEIE)            study:                                  consultation, interviews, labs and desk research
                                                                                                                                                                                          ;
                                       Market                                                                                                                   i
                                                                                                                                                          version
                                                                                                                                                                               narrative for
                       Phase 2                                                                                                                                                          ;
                                       devt.                   Supply  side insights, partly resulting from calibration and     optimization with         of  case                public and
                                                  Module 3                           :
                                       work-                   module 2 demand side output                                                                                          private
                                       Stream                                                                                                                                       sectors
                                                               Financial insights, resulting from economic integration of the 4 market
                                                  Module 4
                                                               development modules with the public affairs and technical workstreams
                                        D)             Any sources you   are  using    now  that you think     can  be useful?
     © 2020 Deloitte The Netherlands                                                                                                              Bid finalization -
                                                                                                                                                                     Module 1 & 2 deepdive         10
                                                                                                                                                                                                      0777
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<pre>13963942
     1.   Deep dive ‘Case for Change’
     1.4. Resources and manhours: after the                     discount, the module 1 fee is approx. 71K,   as    the module                 leverages
     information and                   analysis inputs from the other modules
                                                                                                         (10)(29)
      Original                                                                                                                                (10)(29)
                                                       5 weeks           1.4            286
      (Bee (Te        RCo J-To AE   oJ TA = (=I                                                           (10)(2g)
     © 2020 Deloitte The Netherlands                                                                             Bid finalization -
                                                                                                                                    Module 1 & 2 deepdive 11
                                                                                                                                                             0778
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<pre>13963942
    Today's objectives
                                               1.1.
        1.    Deep dive ‘Case for                    Expected  outcome
              Change’                          1.2.  Proposed steps
                                               1.3. Data                                                           =                                                                         a—
                                                                                                                                                                                                                                                                         -—         _—
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                                                                                                                                                                                      =
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                                                                                                                                                                                         =
                                                                                                                  WT                                                      :
                                                                                                                                                                                Ls
                                               1.4. Resources and manhours
                                                                                                                                                                                                                               -
                                                                                                                                                              =
                                                                                                                                                                                .
                                                                                                         :                -         -
                                                                                                                                                                      ==
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                                                                                                                                                             y=                     -
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                                                                                                                                                                                                                                                                  3
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                                                                                               :
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                                                                                                                                                                                                —    -
                                                                                                                                                                                                                                   -
                                                                                                                                                                                                                                           —,
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                =
                                                                                                                                                                                                                                                                              -
                                                                                             ie                     eT                                    pe                      —                                                                             a
                                                                   of target market segments
                                                                                                                                                                                                                          :
                                               2.1.
                                                                                                                    =
                                                    Specification
                                                                                                                                                                                           =
                            IAVISIM  \V Td (=)
                                                                                                                                                           po                                                                                         -—
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                                                                                                      ==                                                                                                                                       a=          =
                                               2.2. Customer                                                                                                                                                           =
                                                                                                                                                                                                                                                                               Sa
                                                                                                                       —
                                                                                                                                                                                                                              ad                                     yn
                                                               intimacy                                                      Re                               F
                                                                                                        ge                      -                                                                           ;                oo                    we         .
                                                                                                                                                                                                                                                                            —
                                                                                                                                                                                                                                                                                  5
                                                                                                                        Fs                                                                                          Sone                                               —
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                                                                                                                      al                                        -
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                                                                                                                                                                                                                                                                       =
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                                                                                                                                  -
                                                                                                                                                                                                                                         EF
                                                                                                                                                                                                                                                                    >
              (outcome, steps and data
                                                                                               nr
                                                                                                                             oar                                                                              es                                 TA
                                                                                                                                                                                                                                                    Hn
              discussed within subsections)
                                               2.3. Customer engagement
                                                                                                                                                                                                         a
                                               2.4  Incorporating data from   customers
                                                                                                                                                                                                                                                                                a
                                               2.5 Market   implementation roadmap
                                               2.6 Resources and manhours
       3.     General discussion               3.1  Q&A
                                               3.2 Questions    on  Modules 3-4
                                               3.3 Clarification of the rest of the process
     © 2020 Deloitte The Netherlands
                                                                                                                                                                                                                                                                          0779
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<pre>13963942
     2.    Deep dive ‘Market Development’
     2.1    Specification of target market segments: Together we will choose segments that                                                            are      large, concentrated
     in   focus geographies, and structurally more likely to transition to hydrogen
     How     we     determine          targeted market segments                   —
                                                                                    ILLUSTRATIVE                                                                                 ActionSegmentation
                                                                                                                                                                                                    ™
                                                                                                                                                                                                      frame
                                                                                                                                                                                 fenmE
                                     Data                                                   Segmentation variables                    Initial  hypothesis                        ‘=m
                             VEG AEL                                                             Engigy usage                           Customer segments:
       e.g. Deloitte   databases, IEA, CapitallQ,       Datamonitor                      more   energy=higher priority                  e
                                                                                                                                              Steel                                 =      om           —t]
                                                                                            Sector concentration
                                                                                                                                        *
                                                                                                                                              Cement
                 Decarbonisation research
                                                                                                                                        *
                                                                                                                                              Chemicals
                                                                                        larger players=higher priority
                       incl. Deloitte-Shell studies                                                                                     *
                                                                                                                                              Shipping, Offshore and Ports
                                                                            |
                                                                                                                                 \
                                                                              |
                                                                                         Alternative decarb. options                    >
                                                                                                                                              Road freight
                                                                                        fewer  options=higher priority                        Power (H, as storage)
                                                                         li
                                                                                                                                        ©
      Customer          dialogues         and commitments                       |
                                                                                                                                   |
                 based    on our   ongoing engagement
                                                                                                                                        *
                                                                                                                                              Fertiliser (H, for ammonia)
                                                                                          Location  vs. H, backbone
                                                                                     cluster in the North=higher priority
                       on                                    .
                                                                            |
                                                                                                                                 |
                                                                                                                                        Enabling segments:
                                                                                     more  commitmentsi=higher priority                 *
                                                                                                                                             Technology and engine providers
                                                                                                                                        B————-
                                                                                  Co.
     Wores: 1) Decarponizstion vesdiness
    specific regulatory targets  as well as
                                            ean ba for example driven by secior-
                                            commitments at individual company level )         Any sources you are using now that you think can be useful? Any other variables?
     © 2020 Deloitte The Netherlands                                                                                                                   Bid finalization -
                                                                                                                                                                          Module 1 & 2 deepdive         13
                                                                                                                                                                                                            0780
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<pre>13963942                                                                                                                                                                                            SOME INTENTIONALLY SANITIZED
                                                                                                                                                                                                    NOT COMPREHENSIVE
     2.   Deep dive ‘Market Development’
     2.2 Customer                  intimacy: We bring an extensive network across NortH2 target                                                                          customer               segments, both                          at
     executive            and expert levels; we have started to collate all relationships
    Our     relationships within target segments                                 —
                                                                                      EXAMPLES
                                                     The Netherlands                                                      Germany                                                                  Belgium
                          ”
                                                                                                 EA [re     chemical
                                1 DSM                      CEO                                     1 (Top 3          company) CEO                                           1 Shipping operator           CED
                               2  Tata Steel               General Manager Strategy                2 Chemical                 CEO                                           2 Port                        CEC
                               3  AkzoNobel                CFO                                     3 Pharma                   CEO                                           3 Steel                       CEC
                               4  Nouryon                  CFO                                     4 Chemical                 CEO                                          4  Port                        CEO
                               5  Engle                    Hydrogen Storage and Transport Lead     5 Chemical                 CFO                                          5  Port                        CED
                               6  Port of Rotterdam        CEO & CFO                               6 O0&G                     CFO                                           6 Shipping operator           CFO
                               7  SHV                      CEO                                     7 0&G                      CFO                                           7 Power                       CTO
                               8  Damen    Shipyards       CEO                                     8 Chemical                 CFO                                          8  Midstream                   Transformation  Projects Director
                               9  Vos                      CED                                     9 Chemical                 CFO                                          9  Chemical                    Group Energy Manager & Climate
          Se Nn | or                   Logistics
                               10 Van Oord                 CEQ                                    10 Chemical                 CFO                                          10 Chemical                    Head of Energy & Utilities Management
                .
      executive                11 Boskalis                 CEO                                    11 Logistics                Chairman                                     11 Chemical                    Head of Energy & Innovation   Policy
                               12 Antea                    CEO                                    12 Cement                   Group  Director Alternative Resources        12 Chemical                    VP Site Development & Optimization
      EXam P ES                                                                                   13                          General
                               13 Port of Amsterdam        CEQ                                       Shipping                          Manager Sustainability                 wns
                               14 Pon Power                CFO                                    14 Logistics                VP Global Innovation                         13 0O&G                        Antwerp  Platform Energy Manager
                               15 PosthL                   CFO                                    15 Truck Producer           Head of Truck Strategy
                               16 OCI                      CEO & CFO                              16 Truck Producer           Head of Electrification
                               17 Arcadis                         Executive EMEA                  17 Logistics                Director Environmental Fleet
                                                           Group
                               18 Unilever                 Head of                                18 Shipping                 Head of  Technology and Sustainability
                                                                    Logistics Sustainability
                               19 Cargill                  Heads of Ocean Transport & Trucking       -
                              20 VDL                       Head of Alternative Fuels              20 Chemical
                              21 Heineken                  Global Lead                            21 Chemical
                          |
                                                                        Sustainability Logistics
                          [22     Eneco                    Advisor Regulatory Affairs
                              23  Teijin Aramid            Corporate Specialist   Eco Efficiency
          Exp ert
                                                                                                 D)
                              24 Smit Lamnalco             Global Director Project   Development
                              ey
      examples                26
                                  Acre
                                  FrieslandCampina
                                                           15
                                                           Sustainability Expert
                                                                                                                  We make the          assumption that Shell will also provide access to some
                                                                                                                                             .             .         .   .
                                                                                                                                         of its relationships is that correct?
                                                                                                                                                                       —
     © 2020 Deloitte The Netherlands                                                                                                                                                        Bid finalization -
                                                                                                                                                                                                               Module 1 & 2   deepdive          14
                                                                                                                                                                                                                                                   0781
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<pre>13963942
     2.   Deep dive ‘Market Development’
     2.2 Customer                  intimacy: we      have     a   great starting point              on      the needs of                major players              across          the value chain
     Needs                                                                                                                            | know   regions where
                                                                                                                                                                       We need infrastructure to connect
                                                                                                                                        livestock and   dairy
                                               We need to decarbonize due to          We want     access to     hydrogen                hi
                                                                                                                                                                       to the    hydrogen market and obtain
                                              corporate targets and therefore                                                          shippers   operate on
                        TY                                                             in the  same    way we access
       WEEE CUELI EER                                                                                                               short, dense routes. We
                                                                                                                                                                                  2  competitive price
                                                       we need hydrogen.                natural gas today ~2477
                                                                                                                                     gavimove this whols                                TEN
            robust hvdrogen
                      |
                            y        8                        i Cu
                                                                                          365  days. Ourfactories
                                                                                                                                     operation    1b hydrogen
                   .      v     a                                                          really cant stay idle
                 distribution                                                                                                        with just  a  few stations
                                                                                                 als
                                                                                                 ArdaghGrou
                                                                                                             Cr
                                                                                                                                                        Bank in NL
                                                                                                                                                                   We
                                                                                       Compression leasing would result in lower CAPEX                                                              Gasunie's
                                             NO Carer wil take         ohne   on
                                                                                                                       Iw
                                                                                                                    TATA STEEL
                                                                                                                                                                       _— win
                                                                                                                                                                          nowledge       and   expertise
                                             a  hydrogen truck unless they are
        vye     need d     to kickkickstart  certain they will be able to fuel it                                                                                                      coun
                                                                                                                                                                                        a
                                                                                                               We can’t make       an  investment    case without
              the transition                                  Truck Operator                                                                                                                  Our  safety staff
                                                                                                                  standards and     a  roadmap     from Gasunie                              needs to catch up
                                                                               How about the NG?
                                                                                      pest                                          lyondellbasell                                              Arcot Group
                                              As   a neutral actor, Gasunie                   For  engineering advice         | prefer to turn   to my  existing relationships
                                                is optimally positioned to                                                              KISUMA
         We need ecosystem                             take the lead                                                                                                                    TT
                                                                                                                                                            If you ask us  for   specifications, we turn
                                   |
               oo]| Ele Te] = 1400]1!                                                   My suppliers shrug their                                             around and ask the same thing to our
                                                                                    shoulders when | ask them for                                                        burner suppliers
                                                                                            a hydrogen burner                                                                lyondellbasell
                                                                                                                                                                             I     1m       1
                                                                                                AE  :
                                                                                                        CIO
                                                                                                              ab4
    Source: Customer interviews
     © 2020 Deloitte The Netherlands                                                                                                                                Bid finalization -
                                                                                                                                                                                       Module 1 & 2 deepdive    15
                                                                                                                                                                                                                   0782
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<pre>13963942
     2.   Deep dive ‘Market Development’
     2.2 Customer                  intimacy: users see barriers and risks mainly around (burner) technology availability and
    sufficient supply, while producers also identify access to renewable energy as barrier
    What       developments             are  required before            you   can   start?          What risks do you foresee for the realization of your                      project(s)?
     n=31                                                                                           n=24, multiple  answers possible        "Producer |          User    |     Producer &    user
                                                               Burner   techniques, including
                                                                     control  algorithms.
       The  hydrogen burners         we need to
       use are   not available and the NOx-                     Backbone, supply assurance
                                                                         User  (glass)                Not  coming  into
            amount must be allocated
                      User  (steel)                                                                          being of a                                                  29%               83%
                                                                                                     hydrogen market
                                                                           Burner  technology
                                                                            User (aluminum)
              Creating enough       green H2, enough
           sustainable sources,       enough converting
                   capacity, competitive prices
                             User (paper)                         Subsidy schemes need to match gap
                                                                     in financing of CAPEX and OPEX      Startup losses         “0   EERE 25%
                                                                             User (chemicals)
                We would need        a burner
              from    one  of  our equipment
                manufacturers capable of                 Access to renewable energy       (offshore
                         hydrogen safely and
              burning
                 at high enough output.
                                                          wind projects), scale-up of industrial           No / limited
                                                            electrolyser equipment, favorable          trade-ability of      5
                                                                                                                           13%   4%               42%
                         User (food)                                                                         i
                                                                                                        certificates of
                                                                   regulatory framework.
                                                                 Producer (offshore wind)                   ownership
    Source: Gasunie   questionnaire hydrogen  infrastructure responses
     © 2020 Deloitte The Netherlands                                                                                                              Bid finalization -
                                                                                                                                                                     Module 1 & 2 deepdive      16
                                                                                                                                                                                                   0783
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<pre>13963942
     2.   Deep dive ‘Market Development’
     2.3 Customer engagement: We expect to conduct two interviews with each of around 30 target customers,
    supplemented by                         a  few sector- and             geography-specific          labs
    Customer             Engagement Approach             -
                                                             ILLUSTRATIVE
                                                                                                  What works wellin this                approach? What insights will be           most   important?        2
                                Preparation                                 Interview 1:                                  Interview 2:
                                                                                                                                                                Sector]       Genaraphy
                                                                                                                                                                                     graphy Laks
                        and Engagement                        Energy and Hydrogen Strategy                         (D]=TyqF-Tolo MB I=T-ToRdBILV/
      *
         Close     relationship gaps, if any,                 Conduct 1 hour interview with            *
                                                                                                           Send data request and/or survey                 ©
                                                                                                                                                               Synthesise outputs from
         via   NortH2 / Deloitte networks                     senior executives (C, C-1)                   to technical experts                                interviews into sector            /
      »
         Confirm customers for initial                     *
                                                              Clarify long-term     asset and          *
                                                                                                           Conduct 1 hour             interview/               geography insights
         engagement                                           energy strategy, e.g.:                       working        session with experts             .
                                                                                                                                                               Conduct 2-3 hour virtual lab with
                                                              —
                                                                 Decarbonisation targets                                                                       6-12 executives and experts
      *
         Develop engagement materials:                                   :
                                                                                                       .
                                                                                                           Estimate        hydrogen demand
                                                              —
                                                                 Assets investments
         —
             Research background                                                                                            .                                     Present     aggregated insights from
         —
             yt     ree   phen    als
                                                              ~
                                                              —
                                                                 Energy    usage
                                                                 Sentiment around    hydrogen
                                                                                                           Shi
                                                                                                           B
                                                                                                                 YSra
                                                                                                                       oe Energy    uss
                                                                                                                                              jecti
                                                                                                                                          Brojsction
                                                                                                                                                                  interviews
                                                                                                                                                                  Sense check and calibrate outliers
         —
             Qualitative insights templates                                                                —
                                                                                                               Estimate Next Best         Competitive
                                                              —
                                                                 Barriers and switching costs
         —
             Quantitative demand data                                                                                                                             (e.g.  one   sector in a    country with
                                                                                                              Alternative,      e.g. energy cost    +
                                                              —
                                                                 Energy product characteristics                                                                   very different demand curve)
             templates, alighed with demand                                                                   carbon credits
             model. Optionally, as survey
                                                              —
                                                                 Policy framework needs                                                                           Clarify barriers to adoption
                                                              _
                                                                                                           —
                                                                                                               Estimate timeframe for conversion
                                                                                                                                                                  Draft   a sector / geography-specific
      *
         Contact customers and schedule
                                                                                                           —
                                                                                                               Infer demand per price point
                                                           *
                                                              Solicit on-record statements /               —
                                                                                                               Feed into the the economic model
                                                                                                                                                                  pathway to 2030 and beyond
         interviews               expect, 2-3 follow-                                                                                                             Validate product characteristics
                                -
                                                                      :
                                    Wi
                                                              commitments to        hydrogen               -
                                                                                                               rs
         ups; with             specificconvarsion     |                  TEI                      |      pemremrem
                                                                                                                      mmm  sre meme  me manana  ne  meant
                                                           *
                                                              Obtain    access to  energy data                All data treated       as  confidential,
         rate
                                                              and technical experts                             in  a ‘clean room’ environment
           To estimate demand                curves we will combine customer         insights with external data        (e.g. typical       cost per MWh for a  given annual consumption)
     © 2020 Deloitte The Netherlands                                                                                                                             Bid finalization -
                                                                                                                                                                                    Module 1 & 2 deepdive  17
                                                                                                                                                                                                              0784
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<pre>13963942
     2.        Deep dive ‘Market Development’
     2.4                Incorporating data from customers: Interviews with executives will generate strategic, qualitative
     insights; we will use a systematic approach to ensure they can be compared and fed into Case for Change
     Interview 1 (qualitative) material                                                                                                                                 examples                                         -
                                                                                                                                                                                                                               ILLUSTRATIVE
                                                                      Interview scripts and                                                             questionnaires                                                                                                                                                                                                                   Insights                        database
                                                                                                                                                                                                                                                                                                                                         J
                                                                                                                                                                                                                                                                                                             TT        FOR
                                                                                                                                                                                                                                                                                                                                 estate
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     © 2020 Deloitte The Netherlands                                                                                                                                                                                                                                                                                                                                                                                                    Bid finalization                           -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Module 1 & 2 deepdive                       18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       0785
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<pre>13963942
     2.     Deep dive ‘Market Development’
     2.4     Incorporating data from customers: Interviews with experts will generate quantitative information                                                                                                                                                                                                    on
    the lowest building-block possible to allow integration into the supply/demand optimization
                                                                                                                                                                                                                                                                                                                         ©
                                                                                                                                                                                                              gathered any such data                              in the
     Interview 2 (quantitative) material                                           examples              —
                                                                                                             ILLUSTRATIVE
                                                                                                                                                                                       Have you                                                                                 previous phase?                            |
                                                  Cross-sections of demand data                                                                                                                                                    Drivers of demand
                                                                                Cross-sections                                                                   Energy usage with timing and seasonality
      1. Sector       2. Geo cluster             3. Time     period                                         influence:
                                                                                                                                                                                                                                      EE                EE                  Es
                    |                          !                                +
                                                                                    How energy is used                   (production                            EEE                                           EE;                                                                              BA
                                                                                                                                                                  4
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                    |
                                                                          >     *
                                                                                    Amount of capex needed                           on                         an                 me                                                 ee
                                                                                    customer          and consortium level                                        =                    E              Ea REE EB                                                2
                                                                                    needed
                                                                                                                                                                  ET              ORE EEE
                                                                                                                                                                                  Lg    aoz  LL     ann       Aol   ile     Baki IF
                                                                                                                                                                                                                        ire
                                                         a                                                                                                       Conversion into                   hydrogen (y/n)                        and increase of energy usage factor
                                                                                                                                                                                                                                                                                  Clignt
      Customer database  -
                                       3            3
                            cross-sections illustration
                                                                                                                                                                                               Client
                                                                                                                                                                Ir                        3      3          3     7                           RE                          3         2        =    1
                                                                 :
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                                                                                                                                                                                         Na    Ma                  Ne                                                 anon     0.000     0.000  Doo
      Client Sector        Market segment          Country Region                   2017     2018      2019     2020      2021        2022        [...]           Electricity
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                                                                                                                                        ?
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     © 2020 Deloitte The Netherlands                                                                                                                                                                                                                           Bid finalization       -
                                                                                                                                                                                                                                                                                        Module 1 & 2     deepdive        19
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<pre>13963942
     2.    Deep dive ‘Market Development’
     2.5 Market                implementation roadmap: We will use the roadmap developed for each priority segment                                                          to
    sharpen the financial plan and kick-start customer engagement
                                                                                                               oi      a                                           :
                                                                                                                                                                        phase?5
                                                                                                                                                      |
                                                                                               Do you have     initial            these elements from previous
                                                                                                            an           view on
                                                                                                                                                                                  |
                                                                      |
     Market       Implementation Roadmap            —
                                                       ILLUSTRATIVE
                                                                                                                 +
                                                                                                                    Sales   resource    allocation, e.g. sales    area sizing and
     +
          Segment volume and               *
                                                                                                                    design
                        id
                                             Target customers,                              i       :                              Fm   lict
          value projections                                             *
                                                                          Emotional           benefits,          +
                                                                                                                    Sales organisation           design
                                                rioritised / tiered
     *
          Customer
                      .
                         needs,    drivers
                                           *
                                             PpEngagement experience,
                                                                    :
                                                                          functional benefits,
                                                                                                    :
                                                                                                                 *
                                                                                                                    Capability mapping            and financial plan
          and barriers                                                    product and service                    .
                             -           :
                                             leverage points / high-                      :
     *
          Impact of policy scenarios                                      attributes
                                             Ei aaa,                                                                                  Performance Management
     +
          Demand        / price  curves
                                             Sales
                                                            Eng.incl.   *
                                                                          Positioning statements
                                           *
                                                     blueprint,                           :
     *
          Relative segment                                              *
                                                                          Business model (revenue,                              i            :
                                             channels                                                            *
                                                                                                                    KPIs and incentives
          P ef isaton                                                     cost]
                     ..
                                           *
                                             Pricing strategy                                                    +
                                                                                                                    Dashboard       mock-ups
                                                                        .
     *
          Competitive landscape                                                                                               )                       .
                                           *                                                                     *
                                                                                                                    Measuring and             adaptation over time
                                                                                                        :
     Sample
                                                                                                        4  aR1
     deliverables                                           i
                                                                          FEieiaen
                                                            i
                                                                           SE R]   EARING               &  ; 8
     © 2020 Deloitte The Netherlands
                                                                                                                                                                                    0787
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<pre>13963942
     2.   Deep dive ‘Market Development’
     2.6 Resources and manhours: after the               discount, the module 2 fee is approx. 730K
                                                                                                                                      (10)(2g)
      Original
                                                (10)(29)           (10)(2g)
                            To AVE                                                                                                     (10)(29)
      BIeTo Eile      (oR:          oT TA =}(13                                                   SIOTEE)
     © 2020 Deloitte The Netherlands                                                                     Bid finalization -
                                                                                                                            Module 1 & 2 deepdive 21
                                                                                                                                                     0788
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<pre>13963942
    Today's objectives
                                             1.1.
        1.    Deep dive ‘Case for                  Expected  outcome
              Change                         1.2.  Proposed steps
                                                                                                 :
                                             1.3. Data
                                                                                                      x
                                                                                                   SS          ol      -
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       2.     Deep dive ‘Market              2.1. Specification  of target market segments aE  I   ey Pr
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                                                                                                                                                                                        PE
                                                                                                                                                                                    a
                                                             intimacy
                                                                                                                                                                         Er
                                                                                                                                                                         re          aa
              (outcome, steps   and data
              discussed within  subsections)
                                             2.3. Customer engagement
                                             2.4  Incorporating data from   customers
                                             2.5 Market   implementation roadmap
                                             2.6 Resources and manhours
       3.     General discussion             3.1  Q&A
                                             3.2 Questions    on  Modules 3-4
                                             3.3 Clarification of the rest of the process
     © 2020 Deloitte The Netherlands
                                                                                                                                                                                                           0789
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<pre>13963942
    Deloitte.
    Deloitte refers to   ane or more  of Deloitte Touche Tohmatsu Limited     ("DTTL"), its global network of member firms and their related entities. DTTL (also    referred to as "Deloitte Global") and each of its member
    firms are  legally separate and independent     entities. DTTL does not  provide services to clients. Please see www.deloitte.nl/about to learn more.                                                                        MAKING AN
    Deloitte is  a leading global provider  of audit and assurance,  consulting, financial advisory, risk advisory, tax and related services. Our network of member firms in     more  than 150 countries and territories serves
                                                                                                                                                                                                                                 IMPACT THAT
    four out of five Fortune Global 500% companies. Learn how Deloitte's approximately 286,000 people make             an impact that  matters at  www. deloitte.nl.                                                             MATTERS
                                                                                                                                                                                                                                         77 re
                                                                                                                                                                                                                                               =
    This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms or their related entities (collectively, the “Deloitte network”) is, by means of this
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                                                                                                                                                                                                                                 Sipe [87D
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                                                                                                                                                                                                                                                 0790
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<pre>13963942
    Approach
    We propose                       a    7-month engagement                          during which we will demonstrate the economic       feasibility of NortH,,
     make the first step in activating customers and define                                            required policy instruments
     Project activities
     1. Case for Change
     1.1 Quantify hydrogen   contribution to EU Net-Zero Emission economy
     1.2 Demonstrate need to accelerate    scale-up of green hydrogen
     1.3 Develop high-level policy framework and sector demand scenarios
     1.4 Create public narrative and if needed Consortium member internal    ones
     1.4 Hand-over ‘Case for  Change’  document to Public Affairs workstream
     2, Customer identification
     2.1 Generate overview of   high potential market segments
     2.1 Develop demand projections per segment
     2.1 Develop government policy implications
     2.2 Populate prioritized customer database
     2.2 Fine-tune demand ranges, including customer interviews
     2.3 Formulate positioning statements per customer, including customer labs
     2.3 Update prices and volumes per segment
     2.3 Define customer activation plan
     2.3 Develop ‘warm’ leads for Consortium partners
     2.3 Define policy implications
     3. Commercial & Asset Optimization
     3.1 Determine demand curves per segment for key scenarios
     3.1 Determine supply curves, aligned with Technical workstream
     3.2 Design optimization engine
     3.2 Match supply and demand to optimize revenue and volume flow
     3.2 Identify by-product revenue and volume flows
     3.2 Identify storage requirements
     3.2 Create interface with the electricity market using DEEM
     4. Integrated Economics
     4.1 Design integrated economics model
     4.1 Develop business case with P10/P50/P90 LCOH levels
     4.1 Calculate impact of different sets of policy instruments
     4.1 Assess hydrogen market value across demand scenarios
     4.1 Demonstrate economic feasibility on phase 1 of NortH,
     4.2 Train Consortium stakeholders to   use  and maintain the model in the future
     4.2 Produce documentation and     user  guides
     4.2 Enable model   assurance  by Consortium modeling teams
     © 2020 Deloitte The Netherlands                                                                                               NortH, RFP Response Main Document -
                                                                                                                                                                       Deloitte 24
                                                                                                                                                                                   0791
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