Tlgy Acquisition Corporation · OTC:TLGYF
Tlgy Acquisition — SPAC Merger (October 2023)
31 slides from Tlgy Acquisition's SPAC merger presentation, Oct 12, 2023
Slide 1: Revolutionizing the Global Plastics Market
: TLGY INVESTOR PRESENTATION / OCTOBER 2023 REVOLUTIONIZING With a Viable Green Biodegradable Solution THE GLOBAL PLASTICS MARKET
Slide 2: Disclaimer
INVESTOR PRESENTATION / OCTOBER 2023 2 DISCLAIMER This presentation has been prepared in making an evaluation with respect to a proposed business combination (the “Proposed Transaction”) between TLGY Acquisition Corporation (“TLGY”) and Verde Bioresins, Inc. (“Verde”). This presentation does not pur
Slide 3: Disclaimer: Certain Assumptions
INVESTOR PRESENTATION / OCTOBER 2023 3 DISCLAIMER Certain Assumptions Unless otherwise expressly stated herein, all information relating to the Proposed Transaction: (i) assumes no redemptions by TLGY stockholders in connection with the Proposed Transaction; (ii) does not give effect to any PIPE or
Slide 4: Disclaimer: Additional Information and Where to Find It
INVESTOR PRESENTATION / OCTOBER 2023 4 DISCLAIMER Additional Information and Where to Find it In connection with the Proposed Transaction, TLGY filed a registration statement on Form S-4 with the SEC, which includes a preliminary prospectus with respect to its securities to be issued in connection w
Slide 5: Plastic Pollution Is a Global Problem
INVESTOR PRESENTATION / OCTOBER 2023 5 PLASTIC POLLUTION IS A GLOBAL PROBLEM 175 countries4 endorsed to “end plastic pollution” 4.9B Tons Of plastic disposed of in landfills or the environment1 25M Tons Of plastic textiles landfilled or incinerated annually2 1. Zero Waste Europe: The El Dorado of Ch
Slide 6: Massive Untapped Market Demand for Bioplastics
INVESTOR PRESENTATION / OCTOBER 2023 6 MASSIVE UNTAPPED MARKET DEMAND FOR BIOPLASTICS But bioplastics are only ~1.7% of the global plastics market3 because of the significant limitations in functionality, cost, and performance of current solutions. Sources: 1. UN: 175 countries endorsed to end plast
Slide 7: Verde Bioresins at a Glance
INVESTOR PRESENTATION / OCTOBER 2023 7 VERDE BIORESINS AT A GLANCE 2020 FOUNDED • A full-service bioplastics company specializing in the development and manufacturing of innovative biopolymer resins using its proprietary plant-based PolyEarthylene™ bioresin (“PEL”) • State-of-the-art research and de
Slide 8: Transaction Overview
INVESTOR PRESENTATION / OCTOBER 2023 8 TRANSACTION OVERVIEW • Verde Bioresins Inc., a pioneer in proprietary biopolymer resins. • TLGY Acquisition Corp, a SPAC with deep roots in private equity and transformational operations. • To raise capital for commercial and capacity expansion globally. Overvi
Slide 9: Investment Highlights
INVESTOR PRESENTATION / OCTOBER 2023 9 INVESTMENT HIGHLIGHTS First mover advantage with breakthrough technology – Verde has developed PolyEarthylene™, a proprietary bioresin that Verde believes to have the potential to achieve a full set of environmental1 and industry requirements capable of signifi
Slide 10: PolyEarthylene Is Setting a New Standard
INVESTOR PRESENTATION / OCTOBER 2023 10 End-of-Life Solution Low Cost Scalable Drop-In Ready Broad Applications PolyEarthylene™ Incumbent Bioplastics* POLYEARTHYLENE™ IS SETTING A NEW STANDARD1 *Multinational Companies | 1. Verde / Expert Interviews, TLGY analysis, Environmental: sustainability and
Slide 11: PolyEarthylene's Outperformance Against Other Mainstream Bioresins
INVESTOR PRESENTATION / OCTOBER 2023 11 Source: Verde / Expert Interviews, TLGY analysis 1. Environmental: sustainability and “end-of-life” performance; Cost: sufficiently cost competitive to replace traditional polymers; Manufacturing / Processing: “drop-in” with minimum adjustment to the existing
Slide 12: Landfill Biodegradation: PEL's Stages of Use to End-of-Life
INVESTOR PRESENTATION / OCTOBER 2023 12 LANDFILL BIODEGRADATION PEL’S STAGES OF USE TO END-OF-LIFE 01 Standard Use • PolyEarthyleneTM manufactured and sold to customer. • Resin retains standard polyolefin properties, no change in performance following conversion into product and regular use. • PEL i
Slide 13: Sustainability and Viability with PolyEarthylene
INVESTOR PRESENTATION / OCTOBER 2023 13 SUSTAINABILITY AND VIABILITY WITH POLYEARTHYLENE™ Proprietary trade secret technology converts renewable plant-based materials into bioresins known as PolyEarthylene™ bioresins, a better alternative to conventional plastics and an innovative, green solution fo
Slide 14: PolyEarthylene Is Proven & Drop-In Ready for Mass Market Adoption
INVESTOR PRESENTATION / OCTOBER 2023 14 POLYEARTHYLENETM IS PROVEN & DROP-IN READY FOR MASS MARKET ADOPTION Drop-In Ready Accelerating market adoption through seamless manufacturing integration R&D Mass Market Adoption Environmental Testing Infrastructure Process/Application Validation Customer Acqu
Slide 15: High Volume Production & Supply Chain Strategy
INVESTOR PRESENTATION / OCTOBER 2023 INVESTOR PRESENTATION / OCTOBER 2021 15 HIGH VOLUME PRODUCTION & SUPPLY CHAIN STRATEGY Verde’s manufacturing facility expected to secure the capacity to deliver $75M of PolyEarthylene™ to satisfy first 2 years of potential demand. Braskem is expected to secure am
Slide 16: High Performance PolyEarthylene for a Wide Range of Applications
INVESTOR PRESENTATION / OCTOBER 2023 16 Formulations capable of meeting high industrial performance requirements for durable goods and other advanced applications such as rigid packaging Demonstrated shelf-life stability Customizable to achieve a specific set of physical and mechanical performance g
Slide 17: Financial Forecast and Near-Term Customer Backlog
INVESTOR PRESENTATION / OCTOBER 2023 17 Year 1 Year 2 ADJUSTED SALES 11.5 60.0 - 80.02 GROSS PROFIT 5.1 28.8-38.4 EBITDA -3.3 9.0-15.8 FINANCIAL FORECAST1 ($ in mm) NEAR-TERM CUSTOMER BACKLOG POTENTIAL OF OVER $250 MILLION Verde is in various stages of product development and testing with potential
Slide 18: Financial Forecast (Verde's Standalone P&L)
INVESTOR PRESENTATION / OCTOBER 2023 18 FINANCIAL FORECAST (VERDE’S STANDALONE P&L) Financial Forecast ($ M) (“Yr” pegged to the time of transaction closing)* Analysis and Highlights Yr 1 H1 H2 Yr 2 Revenue 11.5 1.1 10.4 60.0 – 80.0 • Subject to raising expansion capital of at least $15M by the begi
Slide 19: Strategic Partnerships Validate Expansion Pathway
INVESTOR PRESENTATION / OCTOBER 2023 19 STRATEGIC PARTNERSHIPS VALIDATE EXPANSION PATHWAY + Strategic partnership with Vinmar Polymers America, a division of Vinmar International, a leading global distributor of plastics, expected to expand reach of the PolyEarthyleneTM product line to a diverse ran
Slide 20: Leadership Team with Strong Industry Experience
INVESTOR PRESENTATION / OCTOBER 2023 20 LEADERSHIP TEAM WITH STRONG INDUSTRY EXPERIENCE AND DEEP TECHNICAL CAPABILITY Terry Retin Senior Director, Sales • 15+ years leading global partnerships strategy • Shapes customer engagement, retention strategies • Market and business intelligence lead Joseph
Slide 21: TLGY Overview and Value-Add
INVESTOR PRESENTATION / OCTOBER 2023 21 TLGY OVERVIEW AND VALUE-ADD TLGY Differentiation Led by Jin-Goon Kim, a serial transformational CEO of market leading companies and a former Partner at TPG Capital with over $40 billion in value-creation track record. • Address root causes of SPAC challenges –
Slide 22: Unique SPAC Structure
INVESTOR PRESENTATION / OCTOBER 2023 22 UNIQUE SPAC STRUCTURE • $10/share transaction closing price potentially represents a fair value based on peer comps • Structural innovation with fixed pool of warrants and exchange for common mechanism creates upside potential and downside protection • Potenti
Slide 23: Appendix
: TLGY INVESTOR PRESENTATION / OCTOBER 2023 APPENDIX
Slide 24: Appendix 1: Considerations for Indicative Valuation Ranges for Verde
INVESTOR PRESENTATION / OCTOBER 2023 24 APPENDIX 1: CONSIDERATIONS FOR INDICATIVE VALUATION RANGES FOR VERDE LTM 2024E 2025E 2024E 2025E # Company Name Enterprise Value (EV)1 Revenue EBITDA Revenue EBITDA EBITDA (%) Revenue EBITDA EBITDA (%) EV/Revenue EV/EBITDA EV/Revenue EV/EBITDA 1 PureCycle Tech
Slide 25: Appendix 2: Non-Redeeming Shareholder Scenarios Based on Redemptions
INVESTOR PRESENTATION / OCTOBER 2023 25 APPENDIX 2: NON-REDEEMING SHAREHOLDER SCENARIOS BASED ON REDEMPTIONS Redemptions (% of total trust cash) 0% 50% 75% 80% 90% 95% Total Common Shares & Warrants of Public Shareholders Number of TLGY Common Shares Post-Redemption 7,318,182 3,659,091 1,829,546 1,4
Slide 26: Appendix 3: TLGY Warrant Structure Designed to Help Mitigate Redemption
INVESTOR PRESENTATION / OCTOBER 2023 26 APPENDIX 3: TLGY WARRANT STRUCTURE DESIGNED TO HELP MITIGATE REDEMPTION • TLGY’s pooling structure is designed to create an expectation of escalating value for not redeeming common just as expectation for redemption reaches high percentages. • With resized tru
Slide 27: Risk Factors Related to Verde
INVESTOR PRESENTATION / OCTOBER 2023 27 RISK FACTORS RELATED TO VERDE Verde’s business is subject to numerous risks, including but not limited to the following: • Verde is an early-stage company with a history of losses, and its future profitability is uncertain. • To date, Verde has not generated a
Slide 28: Key Risks Related to the Transaction and TLGY
INVESTOR PRESENTATION / OCTOBER 2023 28 KEY RISKS RELATED TO THE TRANSACTION AND TLGY TLGY is subject to numerous risks, including but not limited to: • TLGY’s Initial Shareholders have entered into the Acquiror Support Agreement with TLGY and Verde to vote in favor of the Transaction, regardless of
Slide 29: Key Risks Related to the Transaction and TLGY (Continued)
INVESTOR PRESENTATION / OCTOBER 2023 29 KEY RISKS RELATED TO THE TRANSACTION AND TLGY (CONTINUED) TLGY is subject to numerous risks, including but not limited to: • The unaudited pro forma financial information included elsewhere in this proxy statement/prospectus may not be indicative of what Verde
Slide 30: Key Risks Related to the Transaction and TLGY (Continued)
INVESTOR PRESENTATION / OCTOBER 2023 30 KEY RISKS RELATED TO THE TRANSACTION AND TLGY (CONTINUED) TLGY is subject to numerous risks, including but not limited to: • Reports published by analysts, including projections in those reports that differ from Verde PubCo’s actual results, could adversely af
Slide 31: Key Risks Related to the Transaction and TLGY: Redemption
INVESTOR PRESENTATION / OCTOBER 2023 31 KEY RISKS RELATED TO THE TRANSACTION AND TLGY (CONTINUED) Risks Related to the Redemption • Public shareholders who wish to redeem their public shares for a pro rata portion of the Trust Account must comply with specific requirements for redemption that may ma