Zoomcar Holdings Inc · OTC:ZCAR
Zoomcar — Innovative International Acquisition — SPAC Merger (July 2023)
35 slides from Zoomcar's SPAC merger presentation, Jul 26, 2023
Slide 1: Investor Presentation July 2023
Investor Presentation July 2023
Slide 2: Disclaimer: General
Di s claimer General This presentation does not constitute an offer or invitation for the sale or purchase of securities and has been prepared solely for informational purposes. The information contained in this presentation (this “Presentation”) has been prepared for the exclusive use of the select
Slide 3: Disclaimer: Use of Non-GAAP Financial Matters
Di s claimer Use of Non - GAAP Financial Matters This Presentation and the accompanying oral presentation include certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”) with respect to Zoomcar’s expected future performance and other metrics deri
Slide 4: Innovative International Acquisition Corp. Overview: The Team
Innovative International Acquisition Corp. Overview The Team Dr. Mohan Ananda Chairman & CEO Madan Menon COO & Director Elaine Price CFO Fernando Garibay Director Nisheet Gupta Director Experience and Expertise Experience covering: Treasury | M&A | Digital Transformation | Information Technology | I
Slide 5: Today's Presenters
Today’s Presenters Greg Moran Co - founder and CEO Geiv Dubash Chief Financial Officer Madan Menon COO, IOAC Dr. Mohan Ananda Chairman & CEO, IOAC Z oom c ar 4
Slide 6: Zoomcar aims to transform the urban landscape in India and emerging markets
Zoomcar aims to fundamentally transform the urban landscape in India and other emerging markets through the introduction of affordable, shared personal mobility solutions that address pressing problems of congestion, affordability, and air quality at scale Z oom c ar 5
Slide 7: Zoomcar by the Numbers
Zoomcar by the Numbers 50+ Cities (1) ~7.3M Bookings (2) 3.4M+ Users (3) 26K+ Cars on Global Marketplace (4) Footnotes All data current as of June 30, 2023. (1) Currently active markets (2) Includes cumulative completed bookings on Zoomcar platform since inception (includes all vehicle types includi
Slide 8: Investment Highlights
Investment Highlights A Leading Car Sharing Marketplace with asset - light model Rapid Adoption with presence in 3 countries and 50+ cities Early - Mover Advantage for car sharing in emerging markets Proprietary Technology driving sustainable competitive advantage Strong User Engagement and growth u
Slide 9: Shared Mobility is Ideal Fit for Emerging Markets
Shared Mobility is Ideal Fit for Emerging Markets Primary Drivers Low vehicle ownership (<10%) creates huge untapped demand in the rising middle class Affordability and convenience constraints drive low car ownership levels across markets High upfront car price relative to income (disproportionately
Slide 10: Zoomcar's Car Sharing Marketplace Positioned to Cut Across Emerging Markets
Current Estimated Populations Across Region (in Million) (2) Latin America - 660M; Central Asia - 75M; SE Asia - 675M; Sub - Saharan Africa - 1,100M; MENA - 600M; India - 1,400M Present Markets Served 660M 1 , 100M 1 , 400M 600M 7 5 M 6 7 5 M Zoomcar’s Car Sharing Marketplace Positioned to Cut Acros
Slide 11: Massive Tailwinds Driving Increased Platform Adoption
Massive Tailwinds Driving Increased Platform Adoption Increase in millennial population Improved 4G/5G connectivity Growth in domestic tourism Z oom c ar 10
Slide 12: Vast Addressable Market on Low Personal Vehicle Ownership
3 Vast Addressable Market on Account of Low Personal Vehicle Ownership and High Supply of Underused Vehicles 1,800M (1) 1,170M (1)(2) 515M (1)(2) Total 2025E urban population in target 25 countries Expected urban population in top 65th income percentile Expected urban population in 18 - 49 age brack
Slide 13: Varied Use Cases Drive Widespread Adoption
*See assumptions described in the prior slide Anticipated Trend India accounts for ~40% of the global market opportunity (1) Improving infrastructure creates significant opportunity for longer road bookings Emerging market air travel growing at >2x developed markets Large families and existing socia
Slide 14: Car Sharing Marketplace Provides Efficient Business Model
Car Sharing Marketplace Provides Efficient Business Model for Significant Global Scale P2P focused car sharing marketplace 100% P2P marketplace across all geographies Host/Vehicle Owner Zoomcar Sharing Platform Revenue share model that balances economics for Hosts and Zoomcar respectively Hosts list
Slide 15: Customer Profile + Use Case
Customer Profile + Use Case Illustrative 18 - 35 year olds form large majority Even demand split between weekdays/weekends Airport travel accounts for <10% bookings Diverse mix of vehicles (i.e. sedan, compact, SUV, etc.) Increasing trend toward entrepreneurs (2) Illustrative Host Profile/Use Case (
Slide 16: Robust internal product tools drive operating efficiencies
Robust internal product tools consistently drive operating efficiencies on the platform Intense focus on creating frictionless customer product experiences while providing maximum visibility and insights to all key biz stakeholders Zoomcar’s Proprietary Technology Stack Enables W orl d Cla s s P r o
Slide 17: Data Science Creates Differentiated Platform
Data Science Creates Differentiated Platform Focused on Continuous Improvement 1 Core focus on data science initiatives that add ROI to the customer and business: Revenue uplift Cost reduction 2 Customer experience (CX) improvement 3 Proprietary algorithms with unique business applications at global
Slide 18: Emerging Market Car Sharing Industry is Fragmented without Strong Competitors
~95% market share among India - based same - sector platforms with online presence (1) Early mover and first to scale advantage Principal competition comes from traditional asset - heavy rental sector, vast majority of which has no online presence Intense focus on building out proprietary technology
Slide 19: Strong Post-COVID Recovery in Demand and Marketplace Additions
Strong Post - COVID Recovery in Demand and Marketplace Additions Q1 - 22 7.0 Q4 - 21 8.0 Q3 - 21 Q2 - 21 5.0 1.6 Q2 - 22 9.0 Q3 - 22 8.7 Q4 - 22 8.3 7 . 2 Q1 - 23 Q2 - 23 7 . 3 COVID related restrictions Focus on enhancing unit level pro itability COVID related restrictions 12,606 5,430 1,227 171 20
Slide 20: Zoomcar Has Assembled a World Class Management Team
Zoomcar Has Assembled a World Class Management Team Built for Mass Scale Deepankar Tiwari Senior Advisor Investors Hiroshi Nishijima Chief Operating Officer Geiv Dubash Chief Financial Officer Greg Moran Co - founder and CEO Z oom c ar 19
Slide 21: Financial Overview
Financial Overview Z oom c ar 20
Slide 22: EBITDA evolution driven by improved unit contribution margins
EBITDA evolution driven by improved unit contribution margins and greater business scale Unit Economics Evolution ($/booking) Improving EBITDA Trajectory $16.5 $23 .2 $23.3 $23.9 $(23.6) Contribution margin improvement driven by higher trip durations, more personalized pricing, plus targeted improve
Slide 23: Attractive ATV to CAC Ratios on Guest Acquisition
Attractive ATV to CAC Ratios on Guest Acquisition Footnotes (1) Average quarterly transaction value. Presented on a contant FX basis (INR 77 - 1 USD). (2) Guest CAC defined as all performance marketing spend incurred in period / FTU users acquired in the same period. (Guest CAC for Q2 - 21 normalize
Slide 24: Host CAC is Declining with LTVs Stable to Growing
Host CAC is Declining with LTVs Stable to Growing Footnotes (1) Represents average lifetime GBV for each monthly cohort of Hosts at month six and cumulatively since inception (India only). Assumes constant INR:USD = 80 (2) Represents cost of acquisition (CAC) for Host cohort (India only). CAC includ
Slide 25: Anticipated Future Platform Scale From Vehicle Supply Growth
Anticipated Future Platform Scale From Robust Vehicle Supply Growth Revenue Forecasts (1) GAAP Revenue - $M CY’23 (Est.) CY’24 (Est.) $8 $22 $72 CY’22 Assumes Revenue growth driven by 85% increase in overall platform supply from Host vehicles in 2023 and 100% in 2024 Greater relevance of supply and
Slide 26: Valuation and KPI Benchmarking
Valuation and KPI Benchmarking Z oom c ar Source: Fact Set as of 7 / 21 / 2023 Note: ' NM' denotes multiples that are based on a negative denominator Ridesharing & Delivery 2023E 2024E 10.4% 15 . 9% 5.1% 7 . 0% 1.4x 1.2x 30.4x 18 . 0x 0.09x 2023E 2024E 39.1% 27.7% (4.8%) 2.6% 5.6x 4.3x 64.1x 27.8x 0
Slide 27: Transaction Overview
Transaction Overview Key Assumptions: • $10M in net debt on Zoomcar balance sheet at closing of the business combination, before the impact of final redemptions • 51.4M pro forma shares outstanding at $10.00 per common share. • Pre-money market capitalization does not include 20M Zoomcar shares escr
Slide 28: Investment Highlights Review
Investment Highlights Review A Leading Car Sharing Marketplace with asset - light model Rapid Adoption with presence in 3 countries and 50+ cities Early - Mover Advantage for car sharing in emerging markets Proprietary Technology driving sustainable competitive advantage Strong User Engagement and g
Slide 29: Appendix
Appendix Z oom c ar 28
Slide 30: Glossary
Gl o s s a r y 1 Metrics Booking Fees (Post Discount) - A Definition Represents aggregate transaction fees (net of applicable discounts) charged and collected from the Renter before booking inception. Subject to revenue sharing with Host 2 Additional Revenue – B Includes booking protection fees, boo
Slide 31: Environmental + Social Impact is Central to Zoomcar's Mission
Environmental + Social Impact is Central to Zoomcar’s Mission Environmental 1 Core car sharing rental model may eliminate the need for ~18 personal cars for each car shared on Zoomcar platform Equivalent to estimated 2.7M tons of CO2 removed at current platform strength; First digital mobility platf
Slide 32: Potential Future Growth Initiatives
Potential Future Growth Initiatives Aligned to Accelerate Growth and Profitability Global Rollout of Marketplace Several new countries targeted for 2024 Develop partnerships with regional companies Continue to deploy leading edge customer facing products Inorganic Growth Opportunities Accelerate pla
Slide 33: Operational Benchmarking
Operational Benchmarking (1) Assumes $175M Mudrick Note and $64.3M in cash and cash equivalents Emerging High Growth Market Platforms Marketplaces Median Median Ridesharing & Delivery Median Revenue CAGR 2021A – 2024E (%) Emerging Markets Ridesharing & Delivery High Growth Marketplaces 2024E EBITDA
Slide 34: Valuation Benchmarking
33 Z oom c ar Valuation Benchmarking (1) Assumes $175M Mudrick Note and $64.3M in cash and cash equivalents Enterprise Value / 2024E Revenue Multiple Enterprise Value / 2023E Revenue / Growth Multiple Emerging High Growth Market Platforms Marketplaces Median Median Ridesharing & Delivery Median Emer
Slide 35: Risks related to Zoomcar's business
Risks related to Zoomcar’s business Zoomcar’s operating and financial forecasts, which are subject to various known and unknown contingencies and factors outside of Zoomcar’s control, may not prove accurate and Zoomcar may not achieve results consistent with management’s expectations. Zoomcar’s limi
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