First Reserve Sustainable Growth Corp
First Reserve Sustainable Growth — SPAC Merger (December 2021)
41 slides from First Reserve Sustainable Growth's SPAC merger presentation, Dec 15, 2021
Slide 1: Investor & Analyst Presentation
Exhibit 99.1 INVESTOR & ANALYST PRESENTATION. December 2021
Slide 2: Disclaimer
Disclaimer This presentation (together with oral statements made in connection herewith, the presentation ) is being provided on a non-reliance basis for informational purposes only. This presentation has been prepared to assist interested parties in making their own evaluation with respect to a pot
Slide 3: No Offer or Solicitation
No Offer or Solicitation This presentation does not constitute an offer, invitation or recommendation to subscribe for or purchase any shares or other securities, business or assets, or to enter into any agreement or arrangement and neither this presentation nor anything contained in it or any words
Slide 4: Welcome and Agenda
Welcome Charlie Jardine (Founder, CEO) Business Overview Charlie Jardine (Founder, CEO) Key Commercial Updates Charlie Jardine (Founder, CEO) Sam Steele (Director of Business Development) Keith Watson (Head of eBus) AGENDA U.S. Expansion Strategy Tim Weaver and Austin Hausmann (Co-Presidents, Americ
Slide 5: Our Mission
OUR MISSION To become the global leader in EV fleet electrification. 4
Slide 6: Combustion Engines
COMBUSTION ENGINES
Slide 7: Why We Exist
WHY WE EXIST We exist to give people & Transport is the fastest growing source businesses independence; of fossil-fuel emissions, the largest contributor independence from power (1) to climate change. by the litre. Sources: WHO, EO (1) World Health Organisation: Air Pollution & Climate Change 6
Slide 8: EV Charging Focus by Company
SOFTWARE EV Charging- Focus by Company CORE BUSINESS FOCUS COMMERCIAL WHY WE’RE DIFFERENT Fleet ✓ + Deep focus and expertise in delivering EV charging solutions for fleets + Mission-critical and fully turnkey value proposition for blue-chip fleet customers + Leading software / service solution with
Slide 9: What Sets Us Apart
WHAT SETS US APART + Leading the rapidly expanding EV charging market in Europe with robust growth opportunity in North America and APAC + Purposefully built platform able to deliver full-turnkey charging solutions with scale for fleet customers EO Advantage + Hardware and software products designed
Slide 10: Unique Integrated Business
UNIQUE INTEGRATED BUSINESS SMART FLEET CONSULTATION Our fleet ecosystem 1 Upfront detailed vehicle and energy data analysis. serves the full charging value chain. DESIGN & DEPLOYMENT 2 Site design, grid connections, power upgrades and installation services. AC & DC CHARGING HARDWARE 3 EO manufacture
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Slide 12: Cloud-Based Software Designed for Fleets
CLOUD-BASED SOFTWARE DESIGNED FOR FLEETS RETURN-TO-DEPOT FLEETS EO Cloud can manage any EV charging depot, controlled by a single or multiple EO Hubs. Any geography, any vehicle, AC or DC charging. RETURN-TO-HOME FLEETS Any OCPP compliant charge point, including EO’s leading AC hardware, can be inte
Slide 13: We power forward-thinking fleet managers
We power forward-thinking fleet managers. 12
Slide 14: EO's customers include some of the world's largest fleet operators
EO’s customers include some of the world’s largest fleet operators. 13
Slide 15: Our Customers: Food
OUR CUSTOMERS FOOD We power more than half of the UK’s 10 biggest online retailers. Sources: Statista: Top online stores in the United Kingdom in 2020, by e-commerce net sales 14
Slide 16: Case Study: Powering the world's third largest retailer
CASE STUDY: EO is powering the world’s third largest retailer. + EO secured three-year depot charging partnership with Tesco. “Transport is one of the UK’s largest source of (1) + Tesco to electrify 5,500 vans (entire home delivery fleet) by 2028. emissions, which is why Tesco has committed to + In
Slide 17: Our Customers: Parcels
OUR CUSTOMERS PARCELS We help global logistics leaders deliver their net zero goals. + 2022 Trial project in California with global parcel delivery customer 16
Slide 18: Case Study: World's largest fleet electrification programme
CASE STUDY: World’s largest fleet electrification programme. BYTHENUMBERS “Sustainability and our #ClimatePledge goals are important for the future of our last mile operation. Several businesses have played a key 5,000 88 7 role in helping us transform our infrastructure. EO Charging is one of them.
Slide 19: Powered by EO: Amazon
POWERED BY EO: Amazon plans to have 10,000 new electric vehicles on the road as early as 2022 and FLEET ELECTRIFICATION AT PACE & SCALE. all 100,000 vehicles on the road by 2030 - saving 4 million metric tons of carbon per (2) year by 2030. + EO monitors the health and performance of Amazon’s full E
Slide 20: Mercedes-Benz Vans and other customers
Mercedes-Benz Vans customers include: “Fully electric home delivery 168 eSprinters delivered (4) (3) fleet by 2025” in 2021 Key relationships with vehicle manufacturers. “Building the largest all-electric UK’s largest fleet, currently delivery fleet in the UK. 2021: 50,000+ vehicles. In 2021, EO has
Slide 21: Our Customers: People
OUR CUSTOMERS PEOPLE We power our partners to make emobility their priority. 20
Slide 22: Electric Buses: Emerging fleet sectors
EO is actively working with public transportation customers and other ELECTRIC BUSES: emerging fleet sectors. Why now? Strategic (2) + e-Buses on roads will reach nearly 1.7 million in 2030. + Transport for London (TfL) commits to goal of zero-emission fleet by 2034, partnerships in high (1) three y
Slide 23: Electric Trucks
ELECTRIC TRUCKS: Electrification of medium & heavy-duty commercial vehicles. Why now? + By 2025 approximately 40,000 battery electric medium-duty and heavy-duty vehicles will be in operation across Europe. By 2030, this will increase to (1) 270,000. + European charging and refuelling infrastructure
Slide 24: Tailwinds Driving Fleet Growth
TAILWINDS DRIVING FLEET GROWTH 23
Slide 25: Tailwinds driving fleet growth
2 3 4 1 Governments Private Sector Increasing Global Growth in Driving Electric Committed to Zero Availability of Ecommerce & Last Agenda Emissions Electric Vehicles Mile Delivery 31 countries, states, and 5 million fleet vehicles, 20 fully electric light +36% increase in cities have petrol/diesel a
Slide 26: Let's Talk About the Future
Oo | LET'S ~ TALK ABOUT ~ THE FUTURE 4 |
Slide 27: New Products, People, Territories
1 2 3 4 New Products & More People, New Brand Technology Same Culture Territories Leadership Invest in Research & Establish EO as one of the best Expand global footprint to Build on EO’s UK & EU Development to lead the places to work, instill a culture capture rapidly-growing brand foundations to el
Slide 28: Charging Hardware
CHARGING HARDWARE. OCPP compliant AC charge points for fleets and homes, launching Q1 2022. 27
Slide 29: Smartphone Controlled
SMARTPHONE CONTROLLED. Return-to-home & on-the-go charging for fleets enabled by our new app. Feature rich with charger authentication, energy consumption data and fleet billing info, launching Q1 2022. 28
Slide 30: Fleet Charging Software, eBus and eTruck
Update New FLEET CHARGING EBUS & SOFTWARE. ETRUCK SOFTWARE Dedicated software built in partnership with fleet OCPP-compliant software solution for the world’s managers, hardware agnostic and compatible with leading electric bus and truck operators. any electric car, van and bus fleet. 29
Slide 31: R&D Driving Tech Innovation
R&D OCPP-COMPLIANT DRIVING DC CHARGERS TECH INNOVATION. FUEL CARDS AND FLEET BILLING “We believe our patented technology not EBUS OPPORTUNITY only brings significant benefits to fleet CHARGING operators today, but also lays the groundwork for true V2G charging for the In 2022, EO will launch the new
Slide 32: International Expansion Plans
INTERNATIONAL EXPANSION PLANS UK North Europe APAC America 73m 124m 37m electric vehicles by 2035 electric vehicles by 2035 electric vehicles by 2035 2022 APAC Market Expansion: Business 2022 North America Market Entry: 2022 EU Market Expansion: including Strategic hires in the U.S.& appointment of
Slide 33: Focused strategy with experienced leadership
Focused strategy with experienced leadership. UNLOCKING THE AMERICAS TRANSPORTATION TECH U.S. MARKET LEADS PARTNERSHIP Mark Tom von Tim Weaver & First Joseph Reichbauer Austin Hausmann Reserve Chairman of the Board Audit Chair Co-Presidents of the Americas + Global private equity investment firm wit
Slide 34: Key Metrics
KEY METRICS 33
Slide 35: Transaction Overview
TRANSACTION OVERVIEW SOURCES & USES ! #$%&' ( ))* ! # $ %%& (1) $685m Enterprise Value (3) (4) ! # $%& ' () * %+ ,(- * . /// /01! #$%&'%()%* + ,-.%/$..& 012 034 +2%+,(-*.% 344356' 7//881 ()%(567& 8 9::;;4 #93:)3'%#;<'6)==81! #$%&'%/.++.< =1>4 $522m EO Equity Rollover /?',#'<%/$ <.#22;4 (#&7@ &.A%B..
Slide 36: Valuation & Cash Flow Benchmarking
EO’s fleet-focused operating model drives a strong cash flow VALUATION & CASH FLOW BENCHMARKING profile which de-risks the business plan $mm EBITDA - Capex Cash Flow Profile (3) (EBITDA - Capex) 10.0x 100 2020 2021E 2022E 2023E 2024E 6.7x 50 3.2x 1.9x (1) 22 2023E 2024E 2023E 2024E 1 - (4) (10) (19)
Slide 37: Attractive Financial Profile for EV Fleet Charging
EO’s product and service offerings to EV fleet operators drive ATTRACTIVE FINANCIAL PROFILE FOR EV FLEET CHARGING attractive unit economics, scalability and recurring revenue. Illustrative Unit Economics for a Turnkey Fleet Contract HARDWARE + Intelligent, scalable AC charging points with load manag
Slide 38: EO's Near-Term Outlook and Longer-Term Trajectory
EO’S NEAR-TERM OUTLOOK AND LONGER-TERM TRAJECTORY (1) (1) CHARGERS DEPLOYED REVENUE BY TYPE REVENUE BY GEOGRAPHY +$$$, ?@ @ ;< < $$*##*## , -. /0 -. 123 2456 7 -8 8 -7 9 :5 +,- ./0 $750 $750 183 ; :< 7 0 -. 123 2; 1. =9 >16 12 3 0456.768 .- 9 : &%# )## )## 144 &#$ (## (## $550 $550 & #'##'## 108 &$$
Slide 39: Identifiable and Scalable Near-Term Pipeline
EO believes it is positioned to scale its existing pipeline and IDENTIFIABLE AND SCALABLE NEAR-TERM PIPELINE meaningfully grow customer penetration COMMERCIAL CONSUMER TRANSPORT LOGISTICS & CAR LEASING & OEMS RETAIL OPERATORS SERVICES PARKING OPERATORS 1-year forward revenue potential (1) >$250m Sou
Slide 40: Q&A
Q&A
Slide 41: Thank You
THANK YOU Investor Contact eoIR@icrinc.com Follow the journey @eocharging
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