Wejo Group Limited · OTC:WEJOF
Wejo — Merger or Acquisition (April 2023)
23 slides from Wejo's merger presentation, Apr 7, 2023
Slide 1: Investor Presentation April 2023
© Wejo Ltd. Investor Presentation April 2023 1
Slide 2: Disclaimer (1/2)
© Wejo Ltd. Disclaimer (1/2) 2 Disclaimer This presentation (this “Presentation”) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between TKB Critical Technologies 1 (“TKB”)
Slide 3: Use of Projections
© Wejo Ltd. Use of Projections The financial and operating forecasts and projections of Wejo contained in this Presentation represent certain estimates of Wejo as of the date thereof. Wejo’s independent public accountants have not examined, reviewed or compiled the forecasts or projections and, acco
Slide 4: Company Overview
© Wejo Ltd. Company Overview 4
Slide 5: Wejo collects more data than the New York Stock Exchange on a daily basis
© Wejo Ltd. CONNECTED VEHICLE DATA Wejo collects more data than the New York Stock Exchange on a daily basis At a Glance 5Metrics as December 31, 2022 20.1 TRILLION+ TOTAL VEHICLES 20.8 STRATEGIC INVESTORS FIELDS OF USE PENDING & GRANTED PATENTS 57+3 OEM, TIER 1, & FLEET PARTNERS 28 MILLION DATA POI
Slide 6: Wejo at a Glance
Wejo at a Glance Location Dynamics Vehicle Status Powertrain Environment Diagnostic Camera In-Cabin Data Streams Data Packages Developer Interfaces Mobile Apps Web Apps In-Car Apps Cloud Data Centers Analytics Automotive SaaS ($30B) Traffic ($3B) Remote Diagnostics ($14B) Financial Services End-to-E
Slide 7: Wejo Delivers Mission-Critical Data Solutions
© Wejo Ltd. Wejo Delivers Mission - Critical Data Solutions Source: Ptolemus and Wejo management 7 Marketplace Data Solutions We believe we are a critical provider of real-time insights in a $60 billion potential market Wejo’s platform improves accuracy and other mobility challenges Can deliver a co
Slide 8: Wejo Goes to Market in Two Ways
© Wejo Ltd. Source: Ptolemus Consulting Group and Wejo management, total market size rounded to the nearest round number Wejo Goes to Market in Two Ways 8 Marketplace Data Solutions • Unique data supply focuses on non- auto customers like government and mapping providers • Leader in Traffic Manageme
Slide 9: Introduction to Wejo / TKB Critical Technologies I Opportunity
© Wejo Ltd. Introduction to Wejo / TKB Critical Technologies I Opportunity 9 Wejo Team TKB Critical Technologies I Team T R A N S A C T IO N O V E R V IE W Capital Structure Transaction Structure ⚫ Wejo (NASDAQ: WEJO) has entered into a business combination agreement with TKB Critical Technologies 1
Slide 10: Business Lines
© Wejo Ltd. Business Lines 10
Slide 11: Insurance and Audience Measurement Accelerate in '23
Insurance and Audience Measurement Accelerate in ‘23 Addressable market opportunity worth almost $5 billion Low-quality data results in inadequate market solutions that focus solely on usage- based insurance Wejo’s offering will help reduce risk, validate claims, and prevent fraud, while reducing co
Slide 12: Competitive Advantages
© Wejo Ltd. Competitive Advantages Wejo Advantage Wejo Competitors Accuracy & Coverage • Work with 6 of the top 10 US OEMs • 4 times more data than nearest competitor • No critical mass on OEM data Privacy & Trust • Trusted partner of global OEMs for provision of data regulatory and compliance solut
Slide 13: Financial Overview
© Wejo Ltd. Financial Overview 13
Slide 14: 2022 Marks Inflection Point Towards Long-term Goals
© Wejo Ltd. 2022 Marks Inflection Point Towards Long-term Goals Revenue Growth • Achieved over 200% revenue growth for 2022 • Awarded business from three US state DoT contracts • Built first major OEM SaaS relationship • Pivot to higher margin solutions Cost Cutting • Reduced quarterly operating cas
Slide 15: 2023 Accelerates Advancement Our Markets
© Wejo Ltd. 2023 Accelerates Advancement Our Markets Revenue Growth • Continue ~200% growth rate towards the midpoint of our $20-30M revenue target • Starting year with ~$10M of 2023 revenue • Gross margins will expand as Wejo scales driving profitability Cost Efficiency Focus • Focus on continued c
Slide 16: Strong Performance Through Q3 Fuels Accelerated Growth Profile
© Wejo Ltd. Strong Performance Through Q3 Fuels Accelerated Growth Profile Gross Bookings ($M) 16 Next 4Q Backlog Runoff ($) Financial Metrics are as of December 31, 2022 YTD numbers may not add up due to rounding Net Revenue ($M) Annual Recurring Revenue ($M) 2021 YTD 2022 YTD % Q1 0.31 0.57 +84% Q
Slide 17: Target Operating Model at Scale
© Wejo Ltd. Target Operating Model at Scale $8.4M $20M-30M $200M 2022 Actuals 2023 Guidance 2 - 3+ Years Net Revenue $(97)M $(45)M-(55)M $25M-50M 2022 Actuals 2023 Guidance 2 - 3+ Years Adjusted EBITDA 17 Gross margins will expand as Wejo scales driving profitability ‘22 turns positive, significant
Slide 18: Wejo Historic and Forecasted Financials
© Wejo Ltd. Wejo Historic and Forecasted Financials Net Revenue Forecast ($M) $(68) $(97) $(45)-(55) $0-10 $32 $124 2021A 2022A 2023E 2024E 2025E 2026E Adjusted EBITDA Forecast ($M) Historical Annual Recurring Revenue ($M) $3.1 $3.1 $4.6 $5.3 $7.3 $8.2 $8.3 $9.7 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 20
Slide 19: Why Invest in Wejo
© Wejo Ltd. Why Invest in Wejo The combination of accelerated revenue growth, substantial cost reductions, and incoming capital enables Wejo to reach cash flow breakeven by mid-2024 Wejo is the leader in mobility data At the close of the business combination with TKB, Wejo expects to have raised >$1
Slide 20: TKB Transaction Summary
© Wejo Ltd. TKB Transaction Sumary 20
Slide 21: TKB Transaction Rationale
© Wejo Ltd. TKB Transaction Rationale 21 Innovative business combination of two public companies targeted to provide over $100 million in capital to Wejo Major funding step towards Wejo cash flow breakeven expected in 2024 Offers Wejo shareholders opportunity to issue capital at premium to market Of
Slide 22: Transaction Overview
© Wejo Ltd. Transaction Overview 22 (1) As of January 30, 2023. (2) As of December 31, 2022. (3) Includes 30% forfeiture of TKB Sponsor shares, 2.0 million outstanding options of Wejo, 6.7 million unvested RSUs of Wejo, and warrants from the GM Securities Purchase Agreement. Assumes treasury stock m
Slide 23: Thank You
© Wejo Ltd. Thank You 23