Wallbox N.v. · NYSE:WBX
Wallbox — SPAC Merger (September 2021)
25 slides from Wallbox's SPAC merger presentation, September 2021
Slide 1: Investor Presentation September 2021
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Slide 2: Notice to and Undertaking by Recipients
NOTICE TO AND UNDERTAKING BY RECIPIENTS ‘About this Presentation This investor presentation (this “Presentation” is for informational purposes only to assist interested parties in making ther own evaluation with respect, 0.2 possible transaction (the “Business Combination’ involving Wall ox Chargers
Slide 3: Make Energy Powerful
Make Energy Powerful SIMPLE We innovate to make energy simpler SMART Embedded intelligence and V2G and V2H energy management! INNOVATIVE User-focused innovation drives us DESIGN-CENTRIC Design is not a luxury COMPATIBLE Compatible with all plug-in electric and hybrids \vaS Vehicle to-Grid aH Vehicle
Slide 4: Wallbox Management Team
WALLBOX MANAGEMENT TEAM Founder-led company with an experienced management team from technology, energy and industrial backgrounds * As of end of September 2021 Enric Asuncién Co-Founder & Chief Executive Officer TT Agplus® IDIADA Jordi Lainz Chief Financial Officer UROFRED (Aryuros FUJITSU: 700+ /
Slide 5: Board and Investors
BOARD AND INVESTORS Backed by global leading strategic and financial investors that bring value-added experience CURRENT BOARD MEMBERS Enric Asuncién Anders Pettersson Beatriz Gonzdlez CEO & Executive Director Former CEO Founder & Managing Partner * THULE = SeayaVentures w { Ls Saelh > Ney Pol Soler
Slide 6: Wallbox at a Glance
WALLBOX AT A GLANCE We design, develop and distribute charging and energy management solutions for e-mobility needs +150k +150k 3 +7.5mm UNITS SOLD" PUBLIC CHARGING MANUFACTURING CHARGING STATIONS CONNECTED FACILITIES? SESSIONS? 500k 80+ 9 +60 IN-HOUSE PRODUCTION COUNTRIES WITH OFFICES ACROSS GWH CH
Slide 7: The EV Charging Market
THE EV CHARGING MARKET Mass EV adoption means significant charging infrastructure growth and projected $102bn TAM' in 2030 PROJECTED CUMULATIVE PROJECTED CUMULATIVE # OF # OF ELECTRIC VEHICLES GLOBAL CHARGE POINTS INSTALLED Units (mm) Units (mm) 150 m ROW us mM APAC m Europe 7 a 10, 100 50 +97% of c
Slide 8: Wallbox's Existing Product Portfolio
WALLBOX’S EXISTING PRODUCT PORTFOLIO Solutions to empower users at home, at work and in public HOME HOME & BUSINESS PUBLIC 2016 2017/2018 2019 2019 2020/2021 Pulsar © Commander myWallbox 2.0 Pulsar Plus Commander2 Copper Quasar Electromaps Supernova (ac) (AC) , cacy cacy cacy (oc) (oc)! Most compact
Slide 9: Home and Business AC Charging Solutions
HOME AND BUSINESS AC CHARGING SOLUTIONS Designed for consumer intimacy &) COMPACT Highest power output per size on the market! CONNECTED Via Wi-Fi, Bluetooth, Ethernet or 4G @) SMART Adjusting power output automatically EASY-TO-USE Personalized and secure user interface EMBEDDED SOFTWARE Software in
Slide 10: Home and Business Software Solutions
HOME AND BUSINESS SOFTWARE SOLUTIONS Embedded and interoperable EV charging software to manage and control! the flow of energy MYWALLBOX - RESIDENTIAL AND BUSINESS SOFTWARE User-friendly app Energy management Se) Cloud based platform @M Over the air updates (OTA) (teeta GENEL Payment integration man
Slide 11: Bi-Directional Charging
BI-DIRECTIONAL CHARGING & ENERGY MANAGEMENT Realizing the future of charging with Quasar &) PIONEERING TECH One of the first bi-directional chargers in the world for residential use BI-DIRECTIONAL Changes the flow of energy to enable V2G and V2H CUTTING-EDGE TECH Advanced facial recognition and gest
Slide 12: Energy Control
ENERGY CONTROL Bi-directional charging opens up new opportunities for energy management in homes, buildings and grids g Grid power limit I Wallbox HQ a Building energy need | \) I 100 kw | fh | rN Building energy usage %aun Solar power generation 5OkW =xI- during the day WZ) Quasars discharge EVs to
Slide 13: Unique DC Technology
Unique DC technology experience RELIABLE BY DESIGN Modular design uses Quasar power modules AFFORDABLE Half the total investment of similar fully- installed public chargers! COMPACT Easier to transport, handle and install POWERFUL 60 kW evolving into 120 kW for wider market ® ® © ® STRONG PIPELINE 8
Slide 14: Public Charging Software
PUBLIC CHARGING SOFTWARE Electromaps combines consumer charging data and charger management software to enhance the EV experience on the road eleckromaps BORDERLESS CHARGING e A leading MSP" in Southern Europe ° Hardware agnostic charger management e Extensive information network & data * Scalable p
Slide 15: One Model Capable of Serving Multiple Channels
ONE MODEL CAPABLE OF SERVING MULTIPLE CHANNELS We serve a variety of clients around the world AUTOMOTIVE OEMS AND wecaserisonT AS VALUE ADDED DISTRIBUTORS & RESELLERS Hvunoat MOBS IN*RAMi Ssairoxi = Libra G@uemm purrennoren center Fad eB Sbumblebe= ® @ isorka @w euwop) ARMET © ENTERPRISES [= pees oe
Slide 16: The Wallbox Future
THE WALLBOX FUTURE Be the provider of all-in-one renewable energy solutions with the charger at the center Peer to Peer Energy Transactions Generate energy from own renewable energy sources and trade it with other individuals Automatic Charging Charger starts charging when electricity costs are low
Slide 17: A Global Force
A GLOBAL FORCE We are an international company, with sales, manufacturing facilities and offices worldwide North America (2020) * North America HQ in Mountain View, CA with innovation lab in San Jose, CA + In-house manufacturing in the USA expected by 2022 + Warehouse facility in California APAC (20
Slide 18: Strong Revenue Trajectory
Strong revenue trajectory due to PROJECTED REVENUES Full suite of EV charging USD (mm) solutions 2,115 Capex light business model enables high gr margins 1,605 Global operations and oor manufacturing aoe 1173 Accelerated international 776 land grab 463 tioned at the intersec 224 of energy and mobili
Slide 19: Wallbox Future Growth Summary
Wallbox future growth summary 20208 2021F 2022F 2023F 2025F 2026F Growth : 260% 95% 65% 52% 39% 29% COMMENTARY Total Revenue 2h 79 22h. 463 716 1173 1,605 Growth : 230% 182% 106% 67% 51% 37% and energy man Total COGS 13) 48) 135) (276) (455) (672) e972) 1,183) Strong pipeline and revenue Total Gross
Slide 20: Transaction Overview
WALLBOX' Transaction overview USD (mm) SOURCES PRO FORMA VALUATION Kensington Shares? $1400 Share Price $10.00 Kensington Cash Held in Trust 230 PF Shares Outstanding (mm) 1788 Wallbox Existing Cash? 46 Equity Value $1,788 PIPE Investment 100 © Pro Forma Net Cash3* ($310) Total Sources $1,776 Enterp
Slide 21: Wallbox Valuation
WALLBOX VALUATION"? Public peers benchmarking OPERATIONAL BENCHMARKING 63.2% || _ | ° , + wallbox ® blink = -eharyenvins = Ft, 45.5% 2020A GROSS 2.4% 24.3% 210% . ° Ty wallbox # — -charyepoint ~~ bInk a 21.8% 18.9% 2025E EBITDA 10.4% MARGIN (%) ~chargepoint: VALUATION ENTERPRISE VALUATION USD (mm) 2
Slide 22: Wallbox Valuation
WALLBOX VALUATION*2 Wallbox has significant upside potential USD (mm) COMPARABLE POST-MONEY SUMMARY OF APPROACH ENTERPRISE VALUE ENTERPRISE VALUE Applied a range of 5.0x - 9.0x EV / Revenue multiple? to $10,556 Wallbox’s 2025E revenue to arrive at a Comparable Enterprise Value range $5,864 $1477 50x
Slide 23: Kensington
KENSINGTON Overview of Kensington Capital Acquisition Corp. Il JUSTIN MIRRO Chairman & Chief Executive Officer KENSINGTON OVERVIEW * 25 years of operating, M&A and financing experience ~ + NYSEdisted (KCACU) Special Purpose Acquisition Company (‘SPAC’) with ~$230 in the automotive and automotive-rel
Slide 24: Wallbox Fulfills Kensington's Investment Objectives
Wallbox fulfills Kensington’s investment objectives <= KENSINGTON wallbox #: Global focused automotive business valued at greater than $1.0 billion Leverages high-growth mega-trends of emerging technology proliferation Validated technical, commercial and financial capabilities based upon global auto
Slide 25: Wallbox
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