INVESTOR PRESENTATION Spring 2013

INNOVATIVE SOLUTIONS FOR ELECTRIFYING VEHICLES

Forward-Looking Statements

This presentation contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These statements appear in a number of places in this presentation and include statements regarding our plans, beliefs or current expectations; including those plans, beliefs and expectations of our officers and directors with respect to, among other things, orders to be received under our supply agreement with CODA Automotive and Proterra, Inc., our ability to successfully develop additional products and further expand our manufacturing facilities and the continued growth of the electric-powered vehicle industry. Important Risk Factors that could cause actual results to differ from those contained in the forward-looking statements are contained in our Form 10-Q filed January 31, 2013, which is available through our website at www.uqm.com or at www.sec.gov.

Our Vision

To create the world’s leading motor and controller systems for

hybrid and electric vehicles.

d

Source: International Energy Agency 2010 Global Market Transformation for Clean Energy Products

PROJECTED EVs/PHEV ON THE ROAD BY 2020 based on announced Electric Vehicle Initiative country goals

China France Germany Japan Spain Sweden United States

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 0.0

5.0

10.0

15.0

20.0

25.0

EV/P

HEV

Tot

al S

tock

(mill

ions

)

Significant Growth Anticipated

Making World Wide Headlines

China Announces $15B to fund Goal to Reach 5 Million EV/PHEV Output by 2020 EV Update, April 24, 2012

Global Electric Bus Market to Grow at 26% CAGR Until 2018 Peak Research(Navigant), August 22, 2012

Global Electric Vehicle Initiative Seeks to Deploy 20 Million EVs by 2020 Clean Energy Ministerial, April 25, 2012

Obama Plans to Have 1 Million EVs on the Road by 2015 State of the Union Address, January 11, 2011

Germany to Fund $1.4 Billion in EV Research and Development Bloomberg, May 11, 2011

Key Market Drivers

Improved Experience • Fun to drive • Better mileage • Lower operating costs • Quiet operation • Zero tail pipe emission

Political Will

• Country-specific clean vehicle goals

• Investment subsidies • Consumer incentives

Regulatory Push

• US CAFE standards • Global CO2 standards • CA mandate:

By 2025, 15.4% of new cars to be EV, Plug-in hybrid or Fuel Cells

EV Market Growth

UQM’s Strategic Priorities

Advance leading edge technology

Penetrate full range of EV markets

Develop global customer relationships

Cash flow positive and profitability

Strategic capacity growth

Phase II

Building the Foundation • R&D • Pilot programs

Market Penetration •Customers announced •Initial volume launches

Near-term Acceleration • Select strategic

customers • Volume ramps

Long-term Growth • Expand global OEM

reach • Mass market

penetration

Our Path to Success

Phase I

Phase III Phase IV

Phase II Phase III Phase IV

• Develop advanced propulsion technology

• Establish globally-recognized brand

• Low volume test production and pilot programs

• $45M DOE Grant

Building the Foundation

Phase I

Phase II Phase I Phase III Phase IV

• Initial volume customers – EVI, Proterra, Boulder EV

• Establish world class manufacturing facility

• Strengthen management team

• Solid balance sheet, liquidity

• Positive gross margins

Market Penetration

Phase III Phase I Phase II Phase IV

Near-term Acceleration

• Geographic expansion, Europe, China, etc.

• Select strategic customers – truck, bus, car

• Next-generation products to maintain leadership

• Potential capacity additions

• Profitability

Phase I Phase II Phase III

Long-term Growth

• Active in all EV/Hybrid markets

• Expand global OEM reach

• Strong revenue growth & volume ramps

• Ongoing and improving profitability

Phase IV

Recent Milestones Building Momentum

2010

2009

2011

2012

CODA 10yr Supply Agreement $45M Department of Energy Grant

EVI Trucks/Van Supply Contract Proterra Electric Bus Contract

CODA Shipments Audi A-1 e-tron EV Test Fleet Contract

Boulder EV Delivery Van Order (FedEx)

Audi A-1 e-tron 2nd Phase Build Hino Truck/Bus Contract EVI UPS Contract

2013 Audi A-1 e-tron EV expands Test Fleet Proterra EV Bus 3-year Supply Contract

Denver RTD Hybrid Bus Order

UQM PowerPhase® Electric Propulsion System

Delivering the Heart of the EV

Battery Pack On Board Charger

Battery Management System

UQM Motors and Controllers

New Products Innovative Technology

High Power Density

Greater RPM

Range

Higher Performance

High Efficiency

Permanent Magnet

Motor and Controller

Patented Adaptive Software Control

Smaller and Lighter Weight

Consumes Less Energy Longer Range

SYSTEM GREATER THAN SUM-OF-THE-PARTS

Passenger Vehicles

EV Plug-in Hybrid HEV

Extended Range

Commercial Vehicles

EV Plug-in Hybrid EV

Extended Range

New Products High Performance Products

• 100-135 kW peak motor power • 300-340 Nm peak torque • Fully optimized electric drive system

• 150-220 kW peak motor power • 650-700 Nm peak torque • Standard and high voltage variants

UP TO 94% TOTAL SYSTEM EFFICIENCY

Custom Hybrids

Series Parallel Plug-in Fuel Cell

New Products High Performance Products

• Customized solutions from 50-220 kW peak motor power • Fully integrated and optimized electric drive system

UP TO 94% TOTAL SYSTEM EFFICIENCY

Diverse Customer Base

R&D / Demo Test Programs

Production Launch

Trucks, Vans

Passenger Cars

Other

Buses

Production Customers

• Leading designer and manufacturer of transit buses • March 2013 three-year supply order • Announced capacity expansion to 400 buses/year • Sept 2010 initial order for electric buses • Completed 500K equivalent mileage municipality testing (Altoona)

• All-electric delivery vans and trucks • Deliveries underway for Jan 2012 order for 100 UPS vans • Follow-on orders expected upon completion of pilot program

• All-electric delivery vans • Began delivery of Dec 2012 FedEx order

• Aircraft HVAC systems • Began delivery in 2003 • Over 1,750 motor controller assemblies shipped to date

Production Customers Production Customers

• Freightliner trucks business class, International Truck & Engine HEV programs

• Began delivery in 2008 • DC-to-DC converters to power medium-duty hybrid trucks

• China’s largest, fastest growing non-affiliated car company • Potential relationship provides access to global markets

POTENTIAL CUSTOMER THROUGH CODA RELATIONSHIP

• All electric passenger vehicle • 10 year supply agreement • Awaiting funding to continue volume launch • Contract with Great Wall (Chinese EV mfg)

Development Customers

• All electric vehicle with range extender • Completed 2 test phases and begun 3rd test phase in 2013 • Test vehicles on the road • Vehicles at London Summer Olympics with German team

• Leading manufacturer of luxury automobiles • Testing for alternative drive trains • Powering the all electric 102EX Phantom

• Subsidiary of Toyota • Japanese manufacturer of diesel trucks, buses and other vehicles

worldwide • All electric city buses deployed in 2 locations in Japan • Expects more buses in service in 2013

World Class Manufacturing Facility

CURRENT MANUFACTURING FUTURE EXPANSION

• 130,000 Sq. Ft. facility in Colorado

• Annual capacity - 40,000 units

• Currently ISO 9001 certified

• TS 16949 certification underway

• Additional lines in current building ($1-$3M/line capex)

• 15 acres (already owned) available

• Expected funding from internal cash

Meet the Team

Eric Ridenour, President and CEO • Previously Chief Operating Officer, Chrysler and Board of Management, DaimlerChrysler • Previous roles at Chrysler- EVP of Engineering, VP of Premium Vehicle Team, VP of Product Planning

Don French, CFO • UQM financial executive for 25 years including Controller, Treasurer and CFO • Licensed Certified Public Accountant

Jon Lutz, VP Engineering • UQM Engineering executive for 19 years (Motors Design, Director of Engineering) • Inventor/co-inventor of several of UQM’s key patents

Adrian Schaffer VP Sales and Business Development • Previously VP, Sales for Linamar (global supplier to vehicle market) • Previously senior sales executive with Motorola focused on the vehicle market

Joe Mitchell, VP Operations • 25+ years experience in automotive sector focused on operations and quality control • 11 years hybrid experience with Continental, Siemens VDO and Ballard • Additional quality and manufacturing at Ford Motor Co.

Financial Snapshot

Strong Capital Position

Solid Balance Sheet

Minimal Near Term

Capex

Remaining DOE Grant

$6M Cash $18.4M Work Cap

$27M Equity

Less than $1M for volume expansion

$25M

Sufficient liquidity to reach

profitability

*Based on Q3 FY13 financial statements ending December 31, 2012.

*

Phase I Phase II

Phase III Phase IV

Building the Foundation • DOE Grants • Low volume test

production

Market Penetration •Establish manufacturing facility •Current customer launches •Cost offset by grants

Near-term Acceleration •Capex driven by new customer demand •Cost offset by grants

Long-term Growth •Multiple global ramps •Expand manufacturing capacity

Capex Requirements

Profitability

Potential Accelerated Profitability

The Road to Profitability

Driving to Profitability

Emerging markets with strong growth Leading products Seasoned management team Global customer base Well capitalized

INNOVATIVE SOLUTIONS FOR ELECTRIFYING VEHICLES