Wejo Group Limited · OTC:WEJOF
Wejo — SPAC Merger (March 2023)
27 slides from Wejo's SPAC merger presentation, Mar 23, 2023
Slide 1: Investor Presentation March 2023
© Wejo Ltd. Investor Presentation March 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: Introduction to Wejo / TKB Critical Technologies I Opportunity
© Wejo Ltd. Introduction to Wejo / TKB Critical Technologies I Opportunity 5 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 6: Wejo collects more data than the New York Stock Exchange daily
© Wejo Ltd. CONNECTED VEHICLE DATA Wejo collects more data than the New York Stock Exchange on a daily basis At a Glance 6Metrics 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 7: 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 Civil EngineeringGovernment & Smart Cities Logistics & Distribution Mapping & Navigation T
Slide 8: 2022 Marks Inflection Point Towards Long-term Goals
© Wejo Ltd. 2022 Marks Inflection Point Towards Long-term Goals Revenue Growth • Achieved 200-300% revenue growth for 2022 • Awarded three US state DoT contracts • Built first major OEM SaaS relationship • Pivot to higher margin solutions Cost Cutting • Reduced quarterly operating cash burn • Lower
Slide 9: 2023 Accelerates Advancement of Our Markets
© Wejo Ltd. 2023 Accelerates Advancement Our Markets Revenue Growth • Continue 200-300% growth rate towards $20-30M revenue target • Starting year with ~$10M of 2023 revenue in backlog Cost Efficiency Focus • Focus on continued cost reduction, while driving revenue generation • Cloud and data costs
Slide 10: Why Invest in Wejo
© Wejo Ltd. Why Invest in Wejo At the completion of the TKB business combination, we believe Wejo is well capitalized to drive towards cash flow break even in mid-2024 Significant, Untapped Market Opportunity First-Mover in Mobility Data Transformation Leadership position in Data, Technology, and In
Slide 11: Business Lines
© Wejo Ltd. Business Lines 11
Slide 12: 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 12 Marketplace Data Solutions • Unique data supply focuses on non- auto customers like government and mapping providers • Leader in Traffic Managem
Slide 13: Data Analytics Solutions for Multiple Applications
© Wejo Ltd. Data Analytics Solutions for Multiple Applications 13 2024 and beyond 2023 Audience & Media Measurement End-to-End Insurance Remote Diagnostics Roadside Assistance Other markets Prioritizing higher margin opportunities Provides deep knowledge to inform risk and lower fraud claims Better
Slide 14: Wejo Solutions are Critical to Traffic Management
© Wejo Ltd. Wejo Solutions are Critical to Traffic Management Source: Ptolemus and Wejo management 14 Marketplace Data Solutions We believe we are a critical provider of real-time traffic insights in a $3 billion potential market Wejo’s platform improves accuracy and other mobility challenges in Tra
Slide 15: Wejo's Next-Gen App: Real-Time Traffic Intelligence
Logistics Engineering & Construction Government & Municipalities Mapping & Navigation M A R K E T P L A C E S 15 Wejo’s Next-Gen App: Real-Time Traffic Intelligence™ Real-time reporting of traffic and Traffic Incident Service APIs 15 Wejo’s RTTI solution marries historical data that covers 95% of US
Slide 16: Insurance and Audience Measurement Accelerate in '23
Insurance and Audience Measurement Accelerate in ‘23 Addressable market opportunity worth almost $5 billion Low-quality data results in inadequate market solutions that focus solely on usage- based insurance Wejo’s offering will help reduce risk, validate claims, and prevent fraud, while reducing co
Slide 17: Customer Testimonials
Customer Testimonials “Wejo aligns with our mission to enable first responders through our groundbreaking NG9-1-1 intelligent crash data software. During 9-1-1 emergencies, seconds matter. “One of the things that I really appreciated with Wejo was getting access to actual radio listener data. With t
Slide 18: Innovative Solutions to Power OEM Competitiveness
© Wejo Ltd. Innovative Solutions to Power OEM Competitiveness Software & Cloud Solutions DATA MANAGEMENT PRIVACY AND CONSENT SOLUTIONS SOFTWARE AND PLATFORM LICENSING IMPLEMENTATION OF CUSTOMIZED SOLUTIONS We are now recognizing revenue from a large North American OEM implementing data quality and p
Slide 19: Competitive Advantages
© Wejo Ltd. Competitive Advantages Wejo Advantage Wejo Competitors Accuracy & Coverage • Work with 6 of the top 10 US OEMs • 4 times more data than nearest competitor • No critical mass on OEM data Privacy & Trust • Trusted partner of global OEMs for provision of data regulatory and compliance solut
Slide 20: Financial Overview
© Wejo Ltd. Financial Overview 20
Slide 21: Strong Performance Through Q3 Fuels Accelerated Growth Profile
© Wejo Ltd. Strong Performance Through Q3 Fuels Accelerated Growth Profile Gross Bookings ($M) 21 Next 4Q Backlog Runoff ($) Financial Metrics are as of September 30, 2022 YTD numbers may not add up due to rounding Net Revenue ($M) Annual Recurring Revenue ($M) 2021 YTD 2022 YTD % Q1 0.31 0.57 +84%
Slide 22: Target Operating Model at Scale
© Wejo Ltd. Target Operating Model at Scale $20M - 30M $150M – 250M 2023 Guidance 2 - 3+ Years Net Revenue $(45)M – (55)M $25M-50M 2023 Guidance 2 - 3+ Years Adjusted EBITDA 22 Gross margins will expand as Wejo scales driving profitability ‘22 turns positive, significant expansion in ‘23 -‘24, reach
Slide 23: Wejo Historic and Forecasted Financials
© Wejo Ltd. Wejo Historic and Forecasted Financials Net Revenue Forecast ($M) $(45)-(55) $0 - 10 $32 $124 2023E 2024E 2025E 2026E Adjusted EBITDA Forecast ($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 2022 2Q 2022 3Q 2022 4Q
Slide 24: Transaction Summary
© Wejo Ltd. Transaction Sumary 24
Slide 25: Transaction Rationale
© Wejo Ltd. Transaction Rationale 25 Innovative business combination of two public companies targeted to provide $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 Offers TKB
Slide 26: Transaction Overview
© Wejo Ltd. Transaction Overview 26 (1) Assumes $10.00 per share. (2) As of September 30, 2022. (3) Includes 30% forfeiture of TKB Sponsor shares and 7.5 million unvested RSUs of Wejo. Excludes public and private warrants. (4) Net of transaction expenses. (5) Per Wejo management projections. Sources
Slide 27: Thank You
© Wejo Ltd. Thank You 27