Airo Group Holdings, Inc. · NASDAQ:AIRO
Airo — SPAC Merger (March 2023)
25 slides from Airo's SPAC merger presentation, Mar 30, 2023
Slide 1: Advanced Air Solutions Company Presentation
ADVANCED AIR SOLUTIONS COMPANY PRESENTATION INVESTOR PRESENTATION MARCH 2023
Slide 2: Disclaimer
Disclaimer ‘About this Present ‘This presentation relates to @ proposed business combination (the “Business Combination") between AIRO Group Holdings, Inc. (the “Company/) and Kernel Group Heldings, Inc. ("Kernel"). Asa result ofthe Business Combination, AIRO Group, inc. (*ParentCo") wil be the hold
Slide 3: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements ‘This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that reflect current views of the Company, Kernel or ParentCo with respect to, among other things, operations and finan
Slide 4: Disclaimer: Industry and Market Data
Disclaimer Industry and Market Data In this presentation, the Company, Kernel and ParentCo rely on and refer to certain information and statistics obtained from third-party sources which they believe to be reliable, However, the Company, Kernel and Parentco have not independently verified the accura
Slide 5: The AIRO Group Overview
The AIRO Group Overview AIRO Group Holdings, Inc. (“The AIRO Group,” “AIRO" or the “Company”) leverages decades of industry expertise across the drone services, aviation, and avionics markets to offer a sector-leading enterprise providing innovative aerospace, urban air mobility, and UAS products an
Slide 6: The AIRO Group Vision
The AIRO Group Vision The AIRO Group utilizes its innovative technologies to effectively address high growth markets across Aviation and Aerospace AIRO’s Key Value Drivers Vision Diversified Product Portfolio, ranging from mature product offerings to innovative, growth solutions with ideal customer
Slide 7: AIRO: Executive Management Team
AIRO: Executive Management Team Our Executive Leadership Team has over 150 years of combined operating experience in the aerospace and defense markets AIRO Management Joe Burns | C=O + yearveteran ofthe aviation, ‘echnoloy, and commurications Insts + Forme exective oxpvence United anes, prin eis, [A
Slide 8: Company Divisions
Company Divisions AIRO is a multi-faceted air mobility, autonomy & aerospace platform v Uncrewed Air Systems + The UAS Drones division provides sional UAS platforms nd services within civilian, military applications + Areas of application and w The total addressable market for UAS is projected to in
Slide 9: Key Investment Highlights
Key Investment Highlights Aino 4\ Differentiated and Balanced Portfolio of Aerospace and Defense - Well Aligned with Attractive High Growth Aerospace and Defense Markets Comprehensive Autonomous Technology and Drone Services Offering Significant Revenue and Operational Synergies Highly Experienced a
Slide 10: Uncrewed Air Systems (UAS) Division
Uncrewed Air Systems (UAS) Division AIRO Group is well positioned to leverage its Commercial Drones Division to capitalize on the rapidly growing addressable Aviation & Aerospace market Total Addressable Market(”) Drones - Reliance on unmanned drones within the military and civilian markets expected
Slide 11: Uncrewed Air Systems - Drones
Uncrewed Air Systems - Drones UAS have proven to be a “game changer” for b Commercial and Military UAS DS-1 Minotaur RQ-35 Heidrun is a battle-proven, fixed wing mini UAV for Low Altitude Close Range (LACR) ISR missions. In service in the Ukraine conflict Purchased by multiple NATO countries Remote
Slide 12: AIRO_LINK - Providing Drone and Aviation VPN technology
AIRO_LINK - Providing Drone and Aviation VPN technology ink Offering + Significant need for a datacom network environment for UAS an UAM operations - analogous to Airline and Business Aviation ACARS Networks + Today's current BVLOS network requires visual operations for all phases of flight. Airo_Li
Slide 13: LEO Satellites Iridium NEXT LEO
LEO Satellites Iridium NEXT LEO UTM AIRONET §) uma B) AIRONET. GND HOST Tether Drone y ae $ 2 . AIRPORT Ae AIRONET and UTM | Giese o| TE bl. ]} LOCAL ATC ASP UTM HOSTS @ er rocking Hien Foiowing @ reatrime cose sensorstreaming ops center contra (2) @ drone Tracking, Mapping, & RealTime Sensor Stream
Slide 14: Training Division - Addressing Global Pilot Shortages
Training Division - Addressing Global Pilot Shortages Our Training Division is addressing the undeniable need for new pilots as well as assisting military requirements at a very cost-effective rate! Pilot Shortage Military Training + Massive Pilot shortage is impacting aspects of Air Travel and cate
Slide 15: Significant Market Tailwinds in Aviation Training
Significant Market Tailwinds in Aviation Training Growing demand across the aviation industry, inclucling Airlines, Urban Air Mobility, and Uncrewed Air Systems will accelerate demand for pilots 2018 Total Number of Pilots: 360,000 Business. 55,000 2028 Total Number of Pilots: Attrition 90,008. 150,
Slide 16: Advanced Avionics Division
Advanced Avionics Division Our Advanced Avionics Division develops affordable interoperable products, technologies and partnerships that make information from the aviation data stream relevant to users through all phases of the flight cycle. Complete in-house design-cettification-manufacturing. Over
Slide 17: Electric Air Mobility (EAM) Division
Electric Air Mobility (EAM) Division AIRO is well positioned to leverage its portfolio of leading companies advancing the Aviation & Aerospace market to capitalize on this consistently growing addressable market Total Addressable Market) cas (sus B Electric Passenger Transport - UAM operatorsmay one
Slide 18: Jaunt Canadian Strategy
Jaunt Canadian Strategy + Canadian government highly motivated to revitalize the aerospace industry and establish eVTOL global leadership + Addressing Canada’s future sustainable mobility with the adoption of clean (green) technologies + Securing direct and indirect funding through existing provinci
Slide 19: The Jaunt EAM Difference
The Jaunt EAM Difference Innovation and advanced technology, combined with AIRO’s incredible engineering capabilities, facilitated an aircraft that ties together the best attributes of fixed wing aircraft and rotorcratt, utilizing the most efficient design for vertical take off and landing; a single
Slide 20: Anticipated Aircraft Orders To Date (through Feb 2023)
Anticipated Aircraft Orders To Date (through Feb 2023)* 476 orders valued at $1.14B** Unaiconeg undated = EE ,=Vertikg © AN minta = agp’ WALLE 250 50 20 71 40 25 20 Te’ clasts icienss -
Slide 21: Tier Suppliers
Tier 1 Suppliers + Jaunt Air Mobility has created a collaborative business model + Key Suppliers defer Non-Recurring Engineering (NRE) cost to post certification + Technical and cost risk reduction throughout the development program * Significant technical development risks have already been mitigat
Slide 22: Valuation Comps
Valuation Comps Company Joby Aviation, Inc. AeroVironment, Inc. EVE Air Mobility Vertical Aerospace Ltd Archer Aviation, Inc. symbol JOBY AVA EVEX EVIL ACHR ‘AeroVironment™ = VERTICAL ARCHER Market Capitalization (AsofMarch6, 2023) $2.85B USD $2.23B USD $1.72B USD $760M USD ATRO 4\s 2
Slide 23: Offering Summary
Offering Summary rs as AIRO signed a business combination agreement with Kernel Group Holdings (Nasdaq: KRNL) on March 3, 2023, supported by a backstop agreement for up to 7.7 million shares ($77M USD) previously signed by Kernel and Meteora. The parties are preparing to file a Registration Statemen
Slide 24: ANRO “Ms
ANRO “Ms 2
Slide 25: About Kernel: Management Team
About Kernel: Management Team About Kernel Group Holdings, Inc. Management Team Purpose Suren Ajjarapu + Kernel Group is a serial special purpose acquisition company (SPAC) eee SORE Met formed for the purpose of effecting a merger, share exchange, asset + 25+ years of experiencein growing novel . ac