Joby Aviation, Inc. · NYSE:JOBY
Joby Aviation — Reinvent Technology Partners — SPAC Merger (June 2021)
100 slides from Joby Aviation's SPAC merger presentation, Jun 3, 2021
Slide 1: Joby Aviation Analyst Day
Joby Aviation Analyst Day rd June 3 , 2021 1 1 | | Jo Job by y A Av viia at tiio on nJoby Aviation Analyst Day rd June 3 , 2021 1 1 | | Jo Job by y A Av viia at tiio on n
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation(this “Presentation”) was prepared by Reinvent Technology Partners (“RTP”) andJoby Aero, Inc. (“Joby”) in connection withtheir proposed business combination. By acceptingthis Presentation, youagreeto usethis Presentation for thesole purpose of evaluatingthe potentia
Slide 3: Welcome
Welcome 3 3 | | Jo Job by y A Av viia at tiio on nWelcome 3 3 | | Jo Job by y A Av viia at tiio on n
Slide 4: Aerial Ridesharing
Aerial Ridesharing Paul Sciarra Executive Chairman 4 | Joby AviationAerial Ridesharing Paul Sciarra Executive Chairman 4 | Joby Aviation
Slide 5: Cities are getting bigger and more congested
Cities are getting bigger and more congested Urbanization and under-funded infrastructure remain powerful trends Sustainable mobility is more critical than ever 4.6B/yr 29% 70% hours wasted in traffic CO2 emissions attributable to global population will be in the top 15 U.S. metros transportation se
Slide 6: Aerial ridesharing unlocks the third dimension of urban transportation
Aerial ridesharing unlocks the third dimension of urban transportation Sustainable Fast Scalable exponential scaling of routes at a all-electric aircraft, 5X faster than driving in major metros¹ fraction of the infrastructure cost zero operating emissions 1. Calculated based on average Joby aircraft
Slide 7: Air travel trends toward frequency, safety, and affordability
Air travel trends toward frequency, safety, and affordability 1 2 Accidents per Million Departures Million Departures 1.8 350 1.6 300 1.4 Carrying these trends 250 1.2 to the urban level will 200 be transformative 1 0.8 150 0.6 100 0.4 50 0.2 0 0 1972 1977 1982 1987 1992 1997 2002 2007 2012 2017 1.
Slide 8: Santa Monica to Burbank in 10 mins
Santa Monica to Burbank in 10 mins Departure SMO Arrival BUR Drive Time 39 Minutes Flight Time 10 Minutes 8 8 | | Jo Job by y A Av viia at tiio on nSanta Monica to Burbank in 10 mins Departure SMO Arrival BUR Drive Time 39 Minutes Flight Time 10 Minutes 8 8 | | Jo Job by y A Av viia at tiio on n
Slide 9: Downtown LA to LAX in 8 mins
Downtown LA to LAX in 8 mins Departure DTLA Arrival LAX Drive Time 23 Minutes Flight Time 8 Minutes 9 9 | | Jo Job by y A Av viia at tiio on nDowntown LA to LAX in 8 mins Departure DTLA Arrival LAX Drive Time 23 Minutes Flight Time 8 Minutes 9 9 | | Jo Job by y A Av viia at tiio on n
Slide 10: Hollywood to Palm Springs in 52 mins
Hollywood to Palm Springs in 52 mins Departure HWD Arrival PSP Drive Time 2 hrs 22 min Flight Time 52 Minutes 10 10 | | Jo Job by y A Av viia at tiio on nHollywood to Palm Springs in 52 mins Departure HWD Arrival PSP Drive Time 2 hrs 22 min Flight Time 52 Minutes 10 10 | | Jo Job by y A Av viia at t
Slide 11: Massive untapped market opportunity
Massive untapped market opportunity 300+ aircraft Market opportunity of $500M+ per year in LA alone 11 11 | | Jo Job by y A Av viia at tiio on nMassive untapped market opportunity 300+ aircraft Market opportunity of $500M+ per year in LA alone 11 11 | | Jo Job by y A Av viia at tiio on n
Slide 12: Joby's three keys to success
Joby’s three keys to success Right Aircraft, Certified Scaled Production Go to Market 12 | Joby AviationJoby’s three keys to success Right Aircraft, Certified Scaled Production Go to Market 12 | Joby Aviation
Slide 13: Our timeline to certification, production, and commercialization
Our timeline to certification, production, and commercialization Time Today 2021 2022 2023 2024 Right Aircraft, Certified Scaled Production Go to Market 13 | Joby AviationOur timeline to certification, production, and commercialization Time Today 2021 2022 2023 2024 Right Aircraft, Certified Scaled
Slide 14: Experienced team with meaningful industry experience
Experienced team with meaningful industry experience TODAY’S PRESENTERS JoeBen Bevirt Jon Wagner Matt Field Paul Sciarra Greg Bowles Bonny Simi Eric Allison Founder & CEO Head of Powertrain CFO Executive Chairman Head of Gov’t Affairs Head of Air Ops & People Head of Product Serial Entrepreneur Sr D
Slide 15: Agenda
Agenda Business Overview Paul Sciarra, Executive Chairman Our Aircraft JoeBen Bevirt, Founder & Chief Executive Officer Jon Wagner, Powertrain & Electronics Lead Q&A and Break Certification & Operations Greg Bowles, Head of Government Affairs Bonny Simi, Head of Flight Operations Manufacturing Matt
Slide 16: Our Aircraft
Our Aircraft JoeBen Bevirt Founder & Chief Executive Officer 16 | Joby AviationOur Aircraft JoeBen Bevirt Founder & Chief Executive Officer 16 | Joby Aviation
Slide 17: The right aircraft for the market
The right aircraft for the market Vertical take off 4 passenger for Piloted to facilitate and landing certification and optimal economics public acceptance 150+ mile 200 mph Zero operating max range top speed emissions 17 17 | | Jo Job by y A Av viia at tiio on nThe right aircraft for the market Ver
Slide 18: Breakthrough enabling technology: Distributed Electric Propulsion
Breakthrough enabling technology: Distributed Electric Propulsion Distributing multiple smaller and simpler electric motors across the aircraft enables: Safety: No single points of failure across aircraft systems Acoustics: Electric motors enable a reduced sound profile Economics: Reduced maintenanc
Slide 19: Designed for safety with high levels of redundancy
Designed for safety with high levels of redundancy 6 propellors – can fly safely with the loss of any one propellor Each motor is redundant and powered by two separate inverters Each inverter is wired to a separate battery pack 4 isolated and redundant battery packs on board Motor continues to funct
Slide 20: Designed to be quiet
Joby Takeoff | 65 dBA Joby Cruise | 40 dBA | 20 dBA Leaves in Wind Designed to be quiet Helicopter | 93 dBA Low noise is critically important for community acceptance Allows skyport infrastructure to be centrally located The Joby aircraft is 100x quieter than a helicopter at takeoff* Near silent in
Slide 21: Designed for low operating costs
Designed for low operating costs No hydrocarbon fuel is good for both the bottom line and the environment Fewer mechanical parts means lower maintenance costs and downtime Enables end user pricing that existing aerial alternatives can't match 21 | Joby AviationDesigned for low operating costs No hyd
Slide 22: Advanced flight control software makes the aircraft simple to operate
Advanced flight control software makes the aircraft simple to operate Fly-by-wire flight controls reduce pilot workload Fly-by-wire flight controls reduce pilot workload Automated ‘envelope protection’ mitigates pilot error by inhibiting Automated ‘envelope protection’ commands that exceed safe oper
Slide 23: Battery & Powertrain Technology
Battery & Powertrain Technology Jon Wagner Head of Powertrain 23 | Joby AviationBattery & Powertrain Technology Jon Wagner Head of Powertrain 23 | Joby Aviation
Slide 24: Our integrated powertrain delivers proven performance
Our integrated powertrain delivers proven performance Motor design refined over 10 years of work Patented direct drive motor with integrated controls & inverter No commercial equivalent 24 | Joby AviationOur integrated powertrain delivers proven performance Motor design refined over 10 years of work
Slide 25: Our aircraft compared to a Tesla Model 3 Long Range
Our aircraft compared to a Tesla Model 3 Long Range Battery capacity * 75 kWh 2x ** Torque density (Motor+Inverter) 10 Nm/Kg 6x * Total Propulsion Power 335 kW 3x Weight * 1847 kg 5% lighter * https://en.wikipedia.org/wiki/Tesla_Model_3 25 | Joby Aviation ** https://motorxp.com/wp-content/uploads/mx
Slide 26: Battery cost is a less significant driver of unit cost compared to EVs
Battery cost is a less significant driver of unit cost compared to EVs 1 BEV eVTOL ~10% ~40% Battery Battery Other costs Other costs 1. https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/making-electric-vehicles-profitable# 26 | Joby AviationBattery cost is a less significant d
Slide 27: Our battery pack is built with proven technology
Our battery pack is built with proven technology Commercialized at scale for In Development Automotive & Consumer Products Optimal tradeoff between energy density and cell lifetime Lithium-ion chemistry, NMC 811 811 NMC cathode and Graphite Anode graphite anode eVTOL Lifetime Between Solid Replaceme
Slide 28: Engineered for redundancy and safety
Engineered for redundancy and safety Long Range Battery Pack • More emergency options • Able to fast charge • Longer operating lifetime • Mission flexibility Built for Safety • Batteries in wing away from passengers • 4 fully redundant packs • Mitigations for all failures 28 28 | | Jo Job by y A Av
Slide 29: We've done the work to test and validate our design
We’ve done the work to test and validate our design Battery in altitude chamber Battery HIRF test Vibration test Battery undergoing Battery pack drop test electrical test 29 | Joby AviationWe’ve done the work to test and validate our design Battery in altitude chamber Battery HIRF test Vibration tes
Slide 30: Investing in designing, manufacturing, and testing in house
Investing in designing, manufacturing, and testing in house Production and testing done at our San Carlos facility Fast engineering iteration cycles Gaining experience for mass manufacturing Higher control & success likelihood over the certification process Production line prototyping underway 30 |
Slide 31: Certification
Certification Greg Bowles Head of Government Affairs 31 | Joby AviationCertification Greg Bowles Head of Government Affairs 31 | Joby Aviation
Slide 32: Getting to a Certifiable Design
Getting to a Certifiable Design Joby’s Timeline Conceptual Developmental Detail Design & Design Testing Full-Scale Flight Test 2009 2015 2017 2018 32 | Joby Aviation Begin Formal FAA CertificationGetting to a Certifiable Design Joby’s Timeline Conceptual Developmental Detail Design & Design Testing
Slide 33: FAA certification is the cornerstone of modern aviation
FAA certification is the cornerstone of modern aviation Compliance Type Certification G-1 G-2 Reports Data Sheet (TCDS) Certification Basis Means of Compliance Demonstration of Verification of (What Rules Apply?) (Which Tests & Compliance Compliance Analysis?) (Doing Testing w/FAA) (FAA Review of Te
Slide 34: Paving the certification path took over a decade of hard work
Paving the certification path took over a decade of hard work 2007 2011 2013 2017 2018 2020 2015 FAA Revitalizing Part 23 G1 Preliminary discussions Issued Joby with FAA Formal FAA Certification 34 | Joby AviationPaving the certification path took over a decade of hard work 2007 2011 2013 2017 2018
Slide 35: Designed to fit into a modernized ruleset
We have consciously designed our aircraft to fit into a modernized ruleset Airplane Part 23 gives us flexibility and certainty Part 23 Pilots are widely available Helicopter Use of existing aviation infrastructure Part 27/29 Clear certification pathway Special Part 21.17(B) 35 | Joby AviationWe have
Slide 36: Progressing steadily through the rigorous FAA process
We are progressing steadily through the rigorous FAA process Certification Means of Demonstration of Verification of Basis Compliance Compliance Compliance Joby’s Finished In Progress Starting in 2023 Progress 36 | Joby AviationWe are progressing steadily through the rigorous FAA process Certificati
Slide 37: Certification milestones: deep dive
Certification milestones: deep dive Time Today 2021 2022 2023 2024 H2 H1 Right Aircraft, Certified ✓ G1 cert First FAA basis for-credit testing FAA flight test, First flight of type-design Type cert issued representative aircraft 37 | Joby AviationCertification milestones: deep dive Time Today 2021
Slide 38: Certification experience to get it done
Certification experience to get it done Team Member Years of Experience Team Member 31+ years 21 – 30 years 10 – 20 years < 10 years 100+ team with 1400+ years of combined experience certifying and developing aircraft 38 | Joby AviationCertification experience to get it done Team Member Years of Exp
Slide 39: Operations
Operations Bonny Simi Head of Air Operations 39 | Joby AviationOperations Bonny Simi Head of Air Operations 39 | Joby Aviation
Slide 40: Our aircraft also fits into existing aviation operations rules
Our aircraft also fits into existing aviation operations rules AVIATION RULES HOW WE PLAN TO OPERATE TIMELINE Air Carrier Certificate Joby FAA Part 135 Mid 2022 x Pilots Commercial level pilots Exists today Airspace Existing VFR/IFR Rules Exists today 40 40 | | Jo Job by y A Av viia at tiio on nOur
Slide 41: Leveraging a large pool of pilots
We’re leveraging a large pool of pilots while future proofing our pipeline Joby needs to capture less than <0.5% of all available commercial pilots Future proofing operations with FAA certified pilot training program Business model does not rely on autonomy for economics Planning on operating with p
Slide 42: Early revenue opportunities with the DoD
Early revenue opportunities with the DoD reduce technology and operational risk Contract through the Air Force’s Agility Prime program Received military airworthiness approval in 2020 $40MM in contracts already secured from DoD Over $100MM+ of contracts in discussion Additional opportunities to prov
Slide 43: Manufacturing
Manufacturing Matt Field Chief Financial Officer 43 | Joby AviationManufacturing Matt Field Chief Financial Officer 43 | Joby Aviation
Slide 44: Staged approach to production supports certification and growth
Staged approach to production supports certification and growth Phase II Production Thousands of Aircraft per year Performance Auto – Ferrari 10,131 Performance Auto – McLaren 4,662 Phase I Production Cirrus SR22 331 200-400 Aircraft per year Airbus H125 Helicopter 159 Cirrus SF50 81 Embraer Phenom
Slide 45: Our integrated powertrain is a key differentiator
Our integrated powertrain is a key differentiator 10+ years of in-house motor development Significant IP around EPU technologies Automation to support scale 45 | Joby AviationOur integrated powertrain is a key differentiator 10+ years of in-house motor development Significant IP around EPU technolog
Slide 46: Advanced manufacturing improves unit cost, performance, and weight
Advanced manufacturing improves unit cost, performance, and weight Reduction in materials and weight Increases speed of manufacturing Subtractive backups to de risk certification 46 | Joby AviationAdvanced manufacturing improves unit cost, performance, and weight Reduction in materials and weight In
Slide 47: Composite automation increases precision and speed with less waste
Composite automation increases precision and speed with less waste * 10x faster compared to human worker * 500 Video of C1 labor hours per aircraft reduction * Significant reduction in material waste * Based solely on. Joby Aviation Management Expectations 47 | Joby AviationComposite automation incr
Slide 48: We take a practical approach to scaled manufacturing
We take a practical approach to scaled manufacturing 48 | Joby AviationWe take a practical approach to scaled manufacturing 48 | Joby Aviation
Slide 49: Toyota partnership helps de-risk manufacturing
Toyota partnership helps de-risk and accelerate our manufacturing capabilities Toyota manufacturing engineers partnering with Joby to design production processes Advanced studies have improved plant layout prior to installing equipment Automotive production efficiencies and selected sourcing support
Slide 50: Production milestones: deep dive
Production milestones: deep dive Time Today 2021 2022 2023 2024 H2 H1 Scaled Production Production Announce cert issued Phase 1 plant site First vehicle Phase 1 plant off Pilot line comes online 50 | Joby AviationProduction milestones: deep dive Time Today 2021 2022 2023 2024 H2 H1 Scaled Production
Slide 51: Go to Market
Go to Market Eric Allison Head of Product 51 | Joby AviationGo to Market Eric Allison Head of Product 51 | Joby Aviation
Slide 52: Right aircraft Right market
Right aircraft Right market 52 52 | | Jo Job by y A Av viia at tiio on nRight aircraft Right market 52 52 | | Jo Job by y A Av viia at tiio on n
Slide 53: Press a button… get a flight
Press a button… get a flight 53 | Joby AviationPress a button… get a flight 53 | Joby Aviation
Slide 54: Press a button… get a flight
Press a button… get a flight STEP 1 STEP 2 STEP 3 STEP 4 Select your The Joby service will At the origin skyport, At the destination destination through synthesize a trip for board a shared Joby skyport, another the Joby app or a you, starting with a aircraft and fly to the rideshare car will be par
Slide 55: Multimodal aerial ridesharing
Multimodal aerial ridesharing 55 55 | | Jo Job by y A Av viia at tiio on nMultimodal aerial ridesharing 55 55 | | Jo Job by y A Av viia at tiio on n
Slide 56: Launching a virtuous cycle
Launching a virtuous cycle 56 | Joby AviationLaunching a virtuous cycle 56 | Joby Aviation
Slide 57: Supercharged by vertical integration
Supercharged by vertical integration 57 | Joby AviationSupercharged by vertical integration 57 | Joby Aviation
Slide 58: One day of movement in LA region
One day of movement in LA region Nearly 46M trips 58 58 | | Jo Job by y A Av viia at tiio on nOne day of movement in LA region Nearly 46M trips 58 58 | | Jo Job by y A Av viia at tiio on n
Slide 59: Which transportation modes do riders prefer?
Which transportation modes do riders prefer? Example mode-choice scenario presented to survey participants Mode Cost per Total of Transit Passenger Minutes 60 min Personal Cost to Vehicle Operate 69 min Rideshare $60 72 min Pooled $39 Rideshare 1.5 min 14 min1 min 10 min 5 min = 31.5 min Joby $90 59
Slide 60: Example two-skyport Hollywood network
Example two-skyport Hollywood network LAX 60 | Joby AviationExample two-skyport Hollywood network LAX 60 | Joby Aviation
Slide 61: Mode-choice model predicts trips per day
Mode-choice model Hollywood predicts over 300 trips per day at $3/pax mile LAX 61 | Joby AviationMode-choice model Hollywood predicts over 300 trips per day at $3/pax mile LAX 61 | Joby Aviation
Slide 62: Ideal network: shortest path between each node
Ideal network: shortest path between each node 62 | Joby AviationIdeal network: shortest path between each node 62 | Joby Aviation
Slide 63: Joby aircraft must coexist with existing air traffic
Joby aircraft must coexist with existing air traffic and users of the airspace 63 | Joby AviationJoby aircraft must coexist with existing air traffic and users of the airspace 63 | Joby Aviation
Slide 64: The Joby service must respect the existing airspace system
The Joby service must respect the design and operating rules of the existing airspace system Class B Class D Class C 64 | Joby AviationThe Joby service must respect the design and operating rules of the existing airspace system Class B Class D Class C 64 | Joby Aviation
Slide 65: Initial five skyport network serving 3,400 trips per day
Initial five skyport network that can serve 3,400 trips per day Class B Class D Class C 65 | Joby AviationInitial five skyport network that can serve 3,400 trips per day Class B Class D Class C 65 | Joby Aviation
Slide 66: Routes designed to respect airspace constraints
Routes designed to respect airspace constraints Class B Class D Class C 66 | Joby AviationRoutes designed to respect airspace constraints Class B Class D Class C 66 | Joby Aviation
Slide 67: Larger node network serving 12,500 trips per day
Larger 12 node network that can serve 12,500 trips per day Class B Class D Class C 67 | Joby AviationLarger 12 node network that can serve 12,500 trips per day Class B Class D Class C 67 | Joby Aviation
Slide 68: Adding longer distance routes can unlock latent demand
Adding in longer distance routes can unlock latent demand Class B Class D Class C 68 | Joby AviationAdding in longer distance routes can unlock latent demand Class B Class D Class C 68 | Joby Aviation
Slide 69: Extending the network allows deep market penetration
Extending and filling in the network allows deep market penetration at over 42,000 trips per day Class B Class D Class C 69 | Joby AviationExtending and filling in the network allows deep market penetration at over 42,000 trips per day Class B Class D Class C 69 | Joby Aviation
Slide 70: Demand modeling maps high value infrastructure locations
Demand modeling allows mapping of high value infrastructure locations Class B Class D Class C 70 | Joby AviationDemand modeling allows mapping of high value infrastructure locations Class B Class D Class C 70 | Joby Aviation
Slide 71: Candidate skyport sites based on demand analysis
Candidate skyport sides based on demand analysis Class B Class C 71 | Joby AviationCandidate skyport sides based on demand analysis Class B Class C 71 | Joby Aviation
Slide 72: Partnership to unlock parking structures for aerial ridesharing
Partnership to unlock the potential of parking structures for aerial ridesharing 72 72 | | Jo Job by y A Av viia at tiio on nPartnership to unlock the potential of parking structures for aerial ridesharing 72 72 | | Jo Job by y A Av viia at tiio on n
Slide 73: Expanding our strategic partnerships
Expanding our strategic partnerships 73 73 | | Jo Job by y A Av viia at tiio on nExpanding our strategic partnerships 73 73 | | Jo Job by y A Av viia at tiio on n
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74 | Joby Aviation74 | Joby Aviation
Slide 75: Candidate skyport sites based on demand analysis
Candidate skyport sides based on demand analysis Class B Class C 75 | Joby AviationCandidate skyport sides based on demand analysis Class B Class C 75 | Joby Aviation
Slide 76: ~75% of potential skyports close to partner-controlled properties
~75% of potential skyports suitably close to partner- * controlled properties Class B Class C * Specifically for LA Region 76 | Joby Aviation~75% of potential skyports suitably close to partner- * controlled properties Class B Class C * Specifically for LA Region 76 | Joby Aviation
Slide 77: Elevate tools provide market insight
Elevate tools provide market insight 77 | Joby AviationElevate tools provide market insight 77 | Joby Aviation
Slide 78: Elevate tools enable network design
Elevate tools enable network design 78 | Joby AviationElevate tools enable network design 78 | Joby Aviation
Slide 79: Elevate technologies power network operations
Elevate technologies power network operations 79 | Joby AviationElevate technologies power network operations 79 | Joby Aviation
Slide 80: Getting into the hands of customers
Getting into the hands of customers 80 | Joby AviationGetting into the hands of customers 80 | Joby Aviation
Slide 81: Bringing the pieces together
Bringing the pieces together 81 | Joby AviationBringing the pieces together 81 | Joby Aviation
Slide 82: Commercialization milestones: deep dive
Commercialization milestones: deep dive Time Today 2021 2022 2023 2024 Go to Market/ H1 H2 H2 ✓ Commercialization Commercial DoD on-base FAA 135 cert Announce service launched flight testing achieved launch markets FAA 135 cert Scaled DoD on-base process begins logistic operations 82 | Joby Aviation
Slide 83: Financials
Financials Matt Field Chief Financial Officer 83 | Joby AviationFinancials Matt Field Chief Financial Officer 83 | Joby Aviation
Slide 84: Service Unit Economics at Scale in 2026
Service Unit Economics at Scale in 2026 Revenue Drivers Per Plane ($M) Days a Week 7 Avg Flight Revenue $2.2 24 Miles Length Avg Flights / Day ~40 Cost of Goods Sold ($0.9) Cruising Revenue per ~165 mph $1.73 Speed available seat mile Gross Margin $1.3 Cost per available Avg Load $0.86 2.3 Passenger
Slide 85: Service Unit Economics at Scale in 2026: Cost Drivers
Service Unit Economics at Scale in 2026 Cost Drivers Per Plane ($M) Per available seat mile Days a Week 7 Pilot ~22¢ Revenue $2.2 Avg Flights / Day ~40 Maintenance Cost ~19¢ Cost of Goods Sold ($0.9) incl. Labor Revenue per $1.73 available seat mile Skyport Support / ~11¢ Gross Margin $1.3 Landing F
Slide 86: Payback Period Sensitivity Analysis
Payback Period Sensitivity Analysis (Years) Price per Seat Mile $4.00 $3.50 $3.00 $2.50 $2.00 0.7 1.0 1.3 2.2 5.1 Cruising Speed (mph) Turnaround Load Factor (Passengers) * 85 125 165 200 Time 1.3 Years 3.0 0.8 5.0 6.7 1.8 1.1 0.9 Payback Period 2.5 1.1 7.0 12.9 2.4 1.5 1.2 2.0 1.9 Load Factor: 2.3
Slide 87: Market Economics
Market Economics Indicative Market Returns 22 node network 300+ aircraft in fleet > $500M annual revenue > $225M service contribution margin 87 87 | | Jo Job by y A Av viia at tiio on nMarket Economics Indicative Market Returns 22 node network 300+ aircraft in fleet > $500M annual revenue > $225M se
Slide 88: Spending to Support Commercialization 2021-2024
Flight Academy Pilot Plant Production 2021-2024 Spending to Support Commercialization Capital Spending Operating Expenses & R&D Spending Not to scale $1,600 M $4.8B $1,400 M (1) Uber (2016 - 2020) $1,200 M $1.1B Skyports / Infrastructure $1,000 M $800 M $400-$450M Additional ~$450M $600 M Tesla (201
Slide 89: First to market and production scale drives sustainable advantage
First to market and production scale drives sustainable advantage Scalable Cost Long-Term Returns First-mover advantage Higher Production Demand Scale Sustainable Returns Improved Lower Cost Affordability Cumulative Aircraft Production 89 | Joby Aviation Aircraft CostFirst to market and production s
Slide 90: Strong financial foundation to achieve commercialization
Strong financial foundation to achieve commercialization Current Cash Position Existing Investor Base (1) • Dec 2020 Balance of $446M (2) • Reflects Series C raise of $524M • Funding through Certification (3) SPAC & PIPE Investors SPAC: ~$1.6B in Additional Cash • Funding projected to support operat
Slide 91: Major milestones: certification, production, and commercialization
Major milestones: certification, production, and commercialization Time Today 2021 2022 2023 2024 Right Aircraft, Certified H2 H1 ✓ G1 cert First FAA basis for-credit testing First flight of type-design FAA flight test, representative aircraft Type cert issued Scaled Production H1 H2 Phase 1 plant P
Slide 92: Joby Investment Highlights
Joby Investment Highlights A world class team with world class partners Vertically integrated approach Team of 800+ with deep aerospace, software, and Key parts designed and produced in-house. electrical engineering experience. 1000+ combined Production scaling supported by Toyota. Recurring 01 04 y
Slide 93: Our mission is to save a billion people an hour, every day
Our mission is to save a billion people an hour, every day 93 93 | | Jo Job by y A Av viia at tiio on nOur mission is to save a billion people an hour, every day 93 93 | | Jo Job by y A Av viia at tiio on n
Slide 94: Thank you
Thank you 94 94 | | Jo Job by y A Av viia at tiio on nThank you 94 94 | | Jo Job by y A Av viia at tiio on n
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Slide 96: Appendix
Appendix 96 96 | | Jo Job by y A Av viia at tiio on nAppendix 96 96 | | Jo Job by y A Av viia at tiio on n
Slide 97: Historical Statement of Operations
Historical Statement of Operations (In thousands, except share and per share data) Year Ended December 31 2020 2019 Operating expenses Research and development (including related party purchases of $1,249 and $1,341 $ 108,741 $ 70,178 for the years ended December 31, 2020 and 2019, respectively) Sel
Slide 98: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet (In thousands, except share and per share data) Year Ended December 31 2020 2019 Assets Current assets Cash and cash equivalents $ 77,337 $ 507,176 Short-term investments 368,587 - Other receivables 2,227 80 Prepaid expenses and other current assets 3,032 4,455
Slide 99: Historical Consolidated Statement of Cash Flows
Historical Consolidated Statement of Cash Flows (In thousands) Year Ended December 31 2020 2019 Cash flows from operating activities Net loss $ (114,164) $ (110,349) Reconciliation of net loss to net cash used in operating activities: Depreciation and amortization expense 7,404 3,985 Non-cash intere
Slide 100: Faster speeds unlock higher gross bookings
Faster speeds unlock higher gross bookings Revenue at 1 passenger Additional revenue at 2.3 load factor 20 mile trip at 30 mph on average, $3,000,000 charged at $1.75 per passenger mile $2,468,130 $2,500,000 20 mile trip at 140 mph, charged at $2,000,000 $3.00 per passenger mile $1,395,030 $1,500,00
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