Ceres Power Holdings Plc · LSE:CWR
Ceres Power — Corporate Update (December 2020)
10 slides from Ceres Power's corporate update, December 2020
Slide 1: Slide 1
Slide 2: Ceres and Bosch reach key milestone
—/’ Ceres and Bosch reach key milestone + The close collaboration between Ceres and Bosch reaches a key milestone as Bosch now prepares for mass production + Bosch plans to scale up its current SteelCell® systems production to 2ZOOMW in 2024 + Total deal value of up to £23 million from 2021 to 2023,
Slide 3: Bosch's ambitions to scale system manufacture
—/ Bosch’s ambitions to scale system manufacture Bosch estimates that the market for decentralized power generation will reach €20 billion by 2030 -« SOFC systems will be a key technology for Bosch in meeting this demand for stationary power +« SOFC systems can be operated with eco-friendly biogas o
Slide 4: Deepening our relationship with a key trusted partner
—/ Deepening our relationship with a key trusted partner August 2018 January 2020 £20m Collaboration and Licence Bosch increases its investment Agreement, with Bosch investing in Ceres to c18%. Uwe Glock £9 million in Ceres equity, a stake appointed to the Ceres Board of around 4% in June 2020 Janua
Slide 5: Structure of the deal
—/’ Structure of the deal + Following a successful manufacturing prototype phase Bosch plans to become manufacturer of stationary fuel cell systems based on Ceres technology + Demand for these systems will be initially satisfied by production from Bosch’s Bamberg, Wernau and Homburg production sites
Slide 6: Revenue evolution
Revenue evolution 024 MASS MARKET LAUNCH PARTNERS’ INVESTMENT IN MASS PRODUCTION FACILITIES N Royalties Advance licence fees from manufacturers & OEMs \ t i i i i i i i \ t i i i i i i i i i 20.00 ' ' 15.00 i i i E 10.00 : Supply for t i ' i = | i - i i i \ I Supply for customer programmes customer
Slide 7: Scaling the SteelCell ecosystem
—_/ Scaling the SteelCell® ecosystem STACK Target global manufacturing partners to supply cells and stacks to system OEMs in regions of greatest demand CONFIDENTIAL © Ceres Power Ltd 2020 SYSTEM Moving into higher power systems and broadening applications in each region (through direct and shared sy
Slide 8: Summary
—/ Summary A major milestone for the company as Bosch starts scaling up to system mass manufacture Significant value to Ceres: £23 million over next three years, £6 million subject to KPIs Substantial capacity anticipated to drive royalty revenues: 200OMW by 2024 Further validation of the Ceres lice
Slide 9: ©
©
Slide 10: Thank you
THANK YOU INVESTOR RELATIONS TEAM: investors@cerespower.com _info@cerespower.com Ceres Power, Viking House © Ceres Power Ltd 2020
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