Slide 1: Lifeline SPAC I Combination with Canatu
LIFELINE SPAC I COMBINATION WITH CANATU July 2024
Slide 2: Disclaimer
Disclaimer Notice Lifeline SPAC I Plc (the “Company”) has prepared this presentation for information purposes only in connection with the proposed acquisition of all the shares in Canatu Oy (“Canatu”) (the “Acquisition”) and contemplated listing on the First North Growth Market maintained by Nasdaq
Slide 3: Agenda
AGENDA Introductory remarks 01 Lifeline SPAC I: Introductory remarks (Timo Ahopelto, Chair of the Board of Directors) The transaction 02 Lifeline SPAC I: Transaction highlights and selection process (Tuomo Vähäpassi, CEO & Mikko Vesterinen, CFO) 03 Canatu: Introduction to Canatu (Juha Kokkonen, CEO)
Slide 4: Today's presenters
Today’s presenters Juha Kokkonen Timo Ahopelto Tuomo Vähäpassi Mikko Vesterinen CEO, Canatu Chair of Board, Lifeline SPAC I CEO, Lifeline SPAC I CFO, Lifeline SPAC I PUBLIC JULY 2024 4
Slide 5: Lifeline SPAC I is a unique investment opportunity
Lifeline SPAC I is a unique investment opportunity Focus Team Structure The first Nordic Sponsor team with unique Structure aligns incentives tech and high-growth SPAC experience, access, and with SPAC investors and focused on growth financing know-how to build global target companies of best-in-cla
Slide 6: Rare opportunity to invest in Nordic high growth tech at an attractive risk-return inflection point
Rare opportunity to invest in Nordic high growth tech at an attractive risk-return inflection point Round Seed/Angel Series A Series B-C Series C/D/E IPO or exit (<€5m) (€5-15m) (€10-30m) (€30-200m+) (€100m+ and/or secondary) Lifeline SPAC I Public market opportunities Later-stage growth companies (
Slide 7: Canatu materially conforms to Lifeline SPAC I's investment criteria
Canatu materially conforms to Lifeline SPAC I’s investment criteria boxes Investment criteria Market ✓ High growth potential ✓ Highly favourable long-term trends Position ✓ Recognised position in a relevant market ✓ Unfair competitive advantage Business model ✓ Proven product-market fit ✓ Attractive
Slide 8: Transaction structure
Transaction structure PRELIMINARY KEY PARAMETERS OF TRANSACTION ILLUSTRATIVE POST-TRANSACTION OWNERSHIP4) ▪ Lifeline SPAC I to combine with Canatu via a 100% share exchange deal ▪ Canatu will receive up to EUR 103.5M in primary capital as a result of the transaction Fixed enterprise value for Canatu
Slide 9: Preliminary transaction timeline
Preliminary transaction timeline Key dates 05.07.2024 • Signing of Share Exchange Agreement 05.07.2024 • Deal announcement 02.08.2024 • Publication of company description (FIN: Yhtiöesite) August 2024 • Capital Markets Day 23.08.2024 • Lifeline SPAC I EGM 16.09.2024 • Completion of the combination 1
Slide 10: Agenda
AGENDA 01 Lifeline SPAC I: Introductory remarks 02 The transaction: Transaction highlights and selection process 03 Canatu: Introduction to Canatu 04 Canatu: Key strengths 05 Q&A PUBLIC JULY 2024 10
Slide 11: Deep technology platform for advanced carbon nanotubes
Deep technology platform for advanced carbon nanotubes PUBLIC JULY 2024 11
Slide 12: Canatu: accelerating the carbon age with an exceptional financial profile
Canatu: accelerating the carbon age with an exceptional financial profile CANATU HIGHLIGHTS STRONG REVENUE GROWTH AND OUTLOOK EURm EBITDA1) % CAGR Gross margin-%2) Revenue Specializes in applications of carbon nanotubes (CNTs) CNT technology applicable in semiconductor, automotive and medical diagno
Slide 13: Canatu focuses on global niche industries with high margin potential
Canatu focuses on global niche industries with high margin potential Current Future Semiconductor Wave 1 - Semiconductor Already a ~80% key focus industry CNTs are used to manufacture EUV pellicles and inspection consumables of 2023 revenue needed to print advanced microchips Automotive Wave 2 - Aut
Slide 14: Agenda
AGENDA 01 Lifeline SPAC I: Introductory remarks 02 The transaction: Transaction highlights and selection process 03 Canatu: Introduction to Canatu 04 Canatu: Key strengths 05 Q&A PUBLIC JULY 2024 14
Slide 15: Canatu's key strengths
Canatu’s key strengths 1 Rapidly growing deep technology company with attractive margins 2 Current, high-growth focus markets are estimated to grow to EUR 2–4 billion by 2030 3 Customer relationships with leading global companies 4 Differentiated IPR-protected technology supporting a strong competit
Slide 16: Rapidly growing deep technology company with attractive margins
1 Rapidly growing deep technology company with attractive margins EURm EBITDA1) Gross margin-%2) Revenue (2.9) (1.8) 0.3 71% 20-25 66% 61% 13.6 108% CAGR 8.4 5.5 1.5 2020 2021 2022 2023 2024 guidance Note: 1) Reported figures, EBITDA figures include other operating income (grants from Business Finla
Slide 17: Current, high-growth focus markets are estimated to grow to EUR 2–4 billion by 2030
2 Current, high-growth focus markets are estimated to grow to EUR 2–4 billion by 2030 ! If the demand for pellicles was satisfied with CNT-reactor sales only, the pellicle market size would be, ”~hundreds Key market drivers of millions of euros”, of which Canatu recurring revenue Addressable market
Slide 18: Customer relationships with leading global companies
3 Customer relationships with leading global companies Universe of potential customers Semiconductor CNTs are used to manufacture EUV ~80% pellicles and filters needed to print of 2023 revenue advanced microchips Automotive CNTs are used to manufacture film ~20% heaters for LiDAR systems and of 2023
Slide 19: Differentiated IPR-protected technology supporting a strong competitive position
4 Differentiated IPR-protected technology supporting a strong competitive position 1 2 188 patents and 38 families patents pending in CVD synthesis Transfer Canatu CNT has: Coating ✓ Significantly less process steps CNT ✓ Mechanical strength Protected technology with patents CNT-based pellicles and
Slide 20: Proven and efficient mass manufacturing capability
5 Proven and efficient mass manufacturing capability 2015 start of Canatu CNT mass manufacturing (touch sensors for automotive) +1m touch sensors manufactured with no field returns 2023 first CNT reactor sale, agreed in 2023 and delivered in 2024 Canatu can commit to manufacture high quality CNTs in
Slide 21: Business model enabling scalable, asset-light growth with high-margin potential
6 Business model enabling scalable, asset-light growth with high-margin potential EUV PELLICLES – CRITICAL FOR ACHIEVING HIGHER YIELDS INSPECTION CONSUMABLES – CRITICAL FOR QUALITY CONTROL1) Technology validation In mass-production period since 2021 since 2021 First customer deliveries in 2024 Busin
Slide 22: Technology powerhouse with experienced management attracting global top talent
7 Technology powerhouse with experienced management attracting global top talent Experienced management and highly skilled employees ~20% 127 of employees hold doctorates or are employees doctoral candidates 30 From around countries JULY 2024 22
Slide 23: Financial targets of annual revenue of over EUR 100 million and adjusted EBIT margin of over 30% in 2027
8 Financial targets of annual revenue of over EUR 100 million and Adjusted EBIT margin1) of over 30% in 2027 Revenue (EURm) • Revenue guidance primarily based on the current orderbook • Preliminary H1 revenue EUR 10.5-11.5m Preliminary H1 2024 • Expected relative contribution to the guided revenue b
Slide 24: Lifeline SPAC I capital offers potential for accelerated value creation
8 Lifeline SPAC I capital offers potential for accelerated value creation Canatu’s Potential Key investment investment investment description Customer support amount period ▪ Reactor technology ▪ Enhanced automation EUR Semiconductor ▪ Second location & capacity 20-25m 2025-2026 increase ▪ Product d
Slide 25: Canatu's key strengths
Canatu’s key strengths 1 Rapidly growing deep technology company with attractive margins 2 Current, high-growth focus markets are estimated to grow to EUR 2–4 billion by 2030 3 Customer relationships with leading global companies 4 Differentiated IPR-protected technology supporting a strong competit
Slide 26: Capital Markets Day Q&A
Welcome to Canatu’s Capital Markets Day August 2024 Q&A PUBLIC JULY 2024 26
Slide 27: Canatu
CANATU LIFELINE| 1 |