Electrovaya Inc. · TSX:ELVA
Electrovaya — Investor Presentation (September 2023)
31 slides from Electrovaya's investor presentation, Sep 26, 2023
Slide 1: General Corporate Presentation
C-electrovaya General Corporate Presentation September 25", 2023 Toronto Stock Exchange (NASDAQ:ELVA) & (TSX:ELVA)
Slide 2: Disclaimer
Disclaimer -< This presentation contains forward-looking statements, including statements that relate to, among other things, the effect of the COVID-19 public health emergency on the Company's ‘operations, its employees and other stakeholders, including on customer demand, supply chain, and deliver
Slide 3: Our Mission
QS Our Mission To accelerate the energy transition with safer and better batteries through technology advancement Ceelectrovaya '
Slide 4: About Electrovaya: Our Locations
About Electrovaya: Our Locations ¢ Canadian Headquarters: 63,000 sq feet facility in Mississauga, ON © Module & pack assembly & engineering development 1s0 ° Electrovava Labs: 25,000 sq feet facility in Mississauga, ON © Cell technology development & scale up © US Headquarters: 130,000 sq feet and 5
Slide 5: Electrovaya History at a Glance
Electrovaya History at a Glance z Apramir Electrovaya powers Daimler’s electric smart car and acquires 700 ‘MWhiyear plant 3 CHRYSLER gn] + ‘SUZUKI C| |,& an HE Microsoft i Partnerships 1996 2000 2002-2010 listed t= Celectrovaya Launched Infinity Li-ion cells ~~» ~ Commercial Launch: Production Ramp
Slide 6: Electrovaya: Success Based on Innovation
Electrovaya: Success Based on Innovation High Revenue Growth >4x since 2019 with projected 100% growth in FY2023 Electrovaya batteries powering vehicles at a Fortune 100 customer site Ceelectrovaya
Slide 7: Electrovaya: A potential multi-billion dollar pure battery play
Electrovaya: A potential multi-billion dollar pure battery play 2 Problem 4. Legacy (Automotive grade) lithium ion batteries are not working for heavy duty applications safety & longevity issues 1. High Profile Recalls 1. LFP energy density is too low for many applications and too dependent ‘on Chin
Slide 8: Electrovaya Capabilities
Electrovaya Capabilities Electrovaya expertise and capabilities includes designing and manufacturing lithium ion batteries - Cells, modules, packs, battery systems and BMS Cell Pack High Voltage battery systems Material handling battery systems : ‘ oo Celectrovaya
Slide 9: Technology Solutions
Technology Solutions Electrovaya complementary technologies targeting the various EV applications. Infinity batteries provides industry leading Jongevity and SSBs provides industry leading energy density Solid State Batteries Infinity Batteries Commercial today i 1 1 1 1 1 1 1 1 1 1 1 1 1 } Global p
Slide 10: Multi-Million-Mile Batteries
Multi-Million-Mile Batteries pis cb om a, @ AD Cycles “Cycle equivalent: 14,000 cycles is equivalent to 3,500,000 miles for 250-mile range car Electrovaya batteries different SOC canenend: ‘Temperature: 22°C, Current: 1 C-rate 8 Capacity! ital Capacity 83838 8 Equivalent iiles ‘4000000 2.000000 “-£L
Slide 11: Market Opportunity Summary: Infinity Platform
Market Opportunity Summary: Infinity Platform © APPLICATION USAGE MARKET SIZE E-Buses ~ $9.6 Billion E-Delivery Tazo, Addressable Trucks Market" E-Forklifts/ 20-24 hrsiday ~$4.5Billion Warehousing ‘Addressable Market i ~ $4.2 Billion seven 12:20 hrs/day Addressable Market* <= Battery Requirements: E
Slide 12: Infinity Batteries: Proven Technology
Infinity Batteries: Proven Technology Lithium-ion ceramic cells with highest cycle life and safety setting the industry standards. Material Handling Equipments OEM Partners (not a full list) RAYMOND High Cycle Life Lowest Cost of Ownership Autonomo ided Robots ~ Safety OEM Partners (not a full ist)
Slide 13: Ceramic separators: Unparalleled Experience
Ceramic separators: Unparalleled Experience 2 The transition to Lithium Metal based batteries is almost certainly going to require the use of ionic conducting ceramic based electrolyte materials Electrovaya Strength Patented unique ceramic separator offers unparalleled safety. (36 patents) ‘Substant
Slide 14: Superior Safety
Superior Safety Multi-level cell and system safety technology with end result being a non-propagating battery design Electrovaya Ceramic vs Coated PO Separator 745°C < 1% shrinkage @ 200°C Third Party Fire Propagation Test ‘An Electrovaya 24V battery AETER fire propagation testing for UL @ Individua
Slide 15: Infinity Batteries: MHE Space
Infinity Batteries: MHE Space st Customers RAYMOND Bastian JABIL SOLUTIONS End Users Example nota ful ist) Retail & eCommerce Walmart >< gS © Lowe's | “Content F100 ecommerce company KZA Food Distribution MWIARS a rae -Mondeléz, “nace Yau siemens 3M teasics QW Lineage FedEx CEVA. Logistics Celectrov
Slide 16: MHE Sales and Production Growth
MHE Sales and Production Growth Electrovaya continues to see new large end customers while growing the demand with additional key customers. Electrovaya is currently focused on scaling up as the demand increases. Est. Battery Demand growth (MHE) Capacity Growth: Expansion plan ro $ 0 : 7004 2028 202
Slide 17: Expansion: Jamestown Gigafactory Update
Expansion: Jamestown Gigafactory Update © 130,000 sqft $0.05/kWh Industrial Facility Energy Cost 100% <3 hours ‘The Gigafactory Plant in Jamestown, NY will allow Electrovaya to onshore manufacturing and streamline Renewable Energy Travel to HQ and Key supply chains to support increased battery deman
Slide 18: Scaleup Potential
Scaleup Potential As production capacity increases so does potential revenue supplementing max capacity from Mississauga of ~200MWh or ~$150m + Stage 1: (Existing Site) 300MWh - ~$150m-$250m ]OMWh - 1GWh - ~$450m-$650m. Electrovaya Capacity soa 200 suo 1.300 $800 1000 ‘ 205 207 ame (me amestoun MN M
Slide 19: EVISION- A SaaS Opportunity
EVISION- A SaaS Opportunity Cloud-based battery analytics system for remote monitoring of the batteries. iil EVISION enable tracking battery operational usage in applications such as lift trucks and electric buses in real time. The system monitors battery health, utilization and charging state impro
Slide 20: High Voltage Battery Systems - Launched July 2023
High Voltage Battery Systems - Launched July 2023 Advanced customized packaging technology for demanding application Energy Storage Systems Electrovaya HV batteries designed for High Cycle Life & Safety high performance stationary Lowest Cost of Ownership applications. > Modular Design Tailored for
Slide 21: HV: Competitive Advantages
HV: Competitive Advantages Cost (TCO) + Highest cycle life in industry even when compared to LFP cells (ELVA ~ 14000 YS LFP ~5000 cycles) Safety Cycle life + No augmentation needed for ESS application: and no battery replacement at midlife for buses. Combining the high energy density of NMC chemistr
Slide 22: Technology Solutions
Technology Solutions Electrovaya complementary technologies targeting the various EV applications. Infinity batteries provides industry leading Jongevity and SSBs provides industry leading energy density Infinity Batteries Solid State Batteries Commercial today 1 1 1 1 1 1 1 Global partners & users
Slide 23: Next Gen-Solid State batteries
Next Gen-Solid State batteries EV penetration in the global vehicle market J 2-3% 85% of new cars ment: Battery Requi for E-cars adoption g Energy Density > 350 Wh/Kg (>750 Wh/L) >10 years lifetime g Superior Safety (s} Cost < 100 $/Kwh for cells ¥ Celectrovaya Energy density (Wh/Kg) 8 + A ELV Solid
Slide 24: Solid-State Batteries: Electrovaya's Approach
Solid-State Batteries: Electrovaya’s Approach Solid State battery platform with versatile proprietary technology Four Solid State Battery Related Patents Filed Single layer Pouch stack Cathode current collector (Itt Ceelectrovaya ™
Slide 25: Financial Performance: Accelerating Growth
Financial Performance: Accelerating Growth e FY2023 revenue target ~$42 million (~C$56 million)** Gross Margins: ~30% (Quaraiy Revenuesand Adjusted EITOA', Fv 2022 8 FY2023, - | | ts a = e a £0,000 40,000 30000 10.000 Annual Revenues (USD k) 2021 Ey 223 EST * Nom IFRS Measure: Adjusted EBITDA doesno
Slide 26: Financial Performance: Gross Margin and Net Profit
Financial Performance: Gross Margin and Net Profit ‘Gross Margin Net Profit (uSD'000) =) Oo 9 xy Ceelectrovaya High costs had a significant impact on gross margins during 2022 and 2023. Some batteries sold at historical prices during 2022 and 2023. Operational efficiencies and cost savings drove imp
Slide 27: Capital Share Structure
Capital Share Structure ° [eséeq Ticker: NASDAQ:ELVA Ticker: TSX:ELVA Shares Outstanding* : 32,980,852 Shares Outstanding* : 32,980,852 Share Price® : USD $3.42 Share Price* : CAD $4.59 Market Cap* : USD $112,765,838 Market Cap* : CAD $151,382,111 Insider Ownership: ~ 35% Insider Ownership: ~ 35% L,
Slide 28: Management Team
Management Team > Dr. Raj S. Das Gupta, CEO, Director Raj has been with the ‘company since 2009 ‘and became CEO in 2022 following his previous role as COO. Raj attended Imperial College, London: MIT; and the University of ‘Cambridge, where he received his Doctorate in Materials Science Celectrovaya
Slide 29: Board of Directors
Board of Directors Prof Carolyn Hansson, Director Professor Carolyn Hansson (CM, FCAE, FRSC has a Jong and distinguished ‘career in industries such as Lockheed Martin (Martin Marietta), Danish Corrosion Labs and Bell Labs as well in academia (Waterioo, ‘Queens, Columbia & ‘SUNY) and was eater a ‘mem
Slide 30: Electrovaya Summary
Electrovaya Summary Pure Play Battery Tech/Manufacturing Leading Partners 5 Electrovaya has strong OEM relationships with some of Electrovaya is a Pure Play North American Lithium ion x © Battery Technology and Manufacturing company on track ahs Ipading indusinal vehicle manttactirers and as numerou
Slide 31: Investor & Media queries
C-electrovaya Investor & Media queries, please contact: Jason Roy Director, Corporate Development & Investor Relations Phone: 905-855-4618 Email: j Web: Toronto Stock Exchange (NASDAQ:ELVA) & (TSX:ELVA)