Electrovaya Inc. · TSX:ELVA
Electrovaya — Investor Presentation (October 2023)
26 slides from Electrovaya's investor presentation, Oct 13, 2023
Slide 1: Investor Presentation October 2023
Celectrovaya Investor Presentation October 2023 Toronto Stock Exchange (Nasdaq:ELVA) & (TSX:ELVA)
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, including statements that relate to, among other things, the effect of the COVID-19 public health emergency on the Company's ‘operations, its employees and other stakeholders, including on customer demand, supply chain, and delivery s
Slide 3: Investment Highlights
Investment Highlights Premium Product Performance and Industry Leader Naorenennoboay Providing the safest’ & Infinity Technology Solid State bro.yate Eee ienely Significant competitive | Battery technology client epeloon LM advantages provide developments will pricing power and be game-changing 2 Lo
Slide 4: Key Market Challenge: A multi-billion dollar opportunity
Key Market Challenge: A multi-billion dollar opportunity Our technology is the ON industry Challenge + Safety and longevity challenges with legacy lithium ion tech; not working for heavy duty applications! + High profile recalls due to safety: Volvo bus & truck, Proterra, Nikola and others + LFP ene
Slide 5: Electrovaya: Our Evolution and Go-Forward Strategy
Electrovaya: Our Evolution and Go-Forward Strategy With a strong foundation in automotive, we began a transition to battery products for MHE in 2017 1996 2002-2010 2015 2017-2021 Founded Partnerships Launched Infinity Commercial Launch sion cells of Heavy Duty ‘Systems Est. Battery Demand Growth (MW
Slide 6: Our Products: Capabilities
Our Products: Capabilities and capabi Cells, modules, packs, battery systems and BMS Cell Material handling battery systems : i I ; wm 8 Celectrovaya Nasdaq: ELVA] TSX: ELVA
Slide 7: Our Products: Complementary Technology Solutions
Our Products: Complementary Technology Solutions Complementary technologies tar: g a number of EV applica ity Batteries provide industry leading longevity and SSBs provide industry leading energy density Solid State Batteries Infinity Batteries Commercial today i 1 1 1 1 1 1 1 1 1 1 1 1 1 ' Global p
Slide 8: Multi-Million-Mile Batteries- Performance Advantage
Multi-Million-Mile Batteries- Performance Advantage Buchan a @ MD a Cycles “Cycle equivalent: 14,000 cycles is equivalent to 3,500,000 miles for 250-mile range car Electrovaya batteries different SOC ‘Temperature: 22°C, Current: 1 C-rate 3,000,000 ee «twee > ELVG | —rypical LEP Cell; 4000 Cycles at
Slide 9: Market Opportunity: Infinity Batteries
Market Opportunity: Infinity Batteries Take-away messag APPLICATION | _usaGE (MARKET SIZE : E-Buses ' ~ $9.6 Billion 1 E-Delivery ‘0 ualday: 1 Addressable 1 Trucks \ Market” f 1 1 ' ' ' ~ $4.5 Billion i E-Forklifts/ 20-24 hrsiday aw Wosnousied 1 Addiasstle Mate? 1 i $4.2 Billi t 1 ~ $4.2 Billion ip
Slide 10: Our Products: Infinity Batteries — A Proven Technology
Our Products: Infinity Batteries — A Proven Technology o Setting the industry standard... Our | ceramic cells have the highest cycle life and sat High Cycle Life Lowest Cost of Ownership noni 2 Safety OEM Partners (not a full list) Zero Fire Incidents dABIL badger wen jceane Heavy Duty Bastia: n Hig
Slide 11: Our Products: Ceramic Seperators
Our Products: Ceramic Seperators ion to lithium metal-based batters will almost certainly require the based electrolyte materials Our Strengths Patented unique ceramic separator offers Unparalleled safety (36 patents) Substantial experience and know-how in the manufacturing of ceramic separators. On
Slide 12: Our Products: Superior Safety
Our Products: Superior Safety vel cell and system safety technology resulting in a non-propagating battery design Electrovaya Ceramic vs Coated PO Separator © Individual cell in fully charged battery pack was forcibly heated to #200°C ‘No internal propagation, the fire was contained within the fault
Slide 13: Our Customers: Infinity Batteries (MHE)
Our Customers: Infinity Batteries (MHE) ‘ ew Customers RAYMOND Bastian JABIL SOLUTIONS End Users Example nota fll list) Retail & ecommerce Walmart > < ss © Lowe's’ “Confidential F100 ecommerce company k'S.0 TARGET beet Ewa = Distribution NWLARS Ld page| Mondeléz, Manufacturing [yiamreneLsn| SIEMENS
Slide 14: Market Demand: Near-term Exponential Growth for MHE
Market Demand: Near-term Exponential Growth for MHE Expanding our capacity to scale our business and meet anticipated growth in demand Demand is expected to grow rapidly over the next 3 Years We are executing plans to expand our manufacturing capacity to ~500MWh in 2025 and >2GWh by 2029 Est. Batter
Slide 15: Expanding Our Capacity: Jamestown, NY Gigafactory
Expanding Our Capacity: Jamestown, NY Gigafactory Our Gigafactory in Jamestown, NY will enable us to: + Onshore manufacturing + Streamline supply chains + Scale to support increased demand 130,000 sq ft $0.05/kWh Industrial facility Low energy cost 100% <3hours Renewable energy Close proximity to HQ
Slide 16: Our Products: High Voltage Battery Systems
Our Products: High Voltage Battery Systems J Advanced customized packaging technology for demanding applic: jaunched July 2023 Eneray Storage Systems ; - High Cycle Life & Safety Electrovaya HV batteries designed for high performance stationary Lowest Cost of Ownership applications. > Modular Design
Slide 17: Our Products: Technology Solutions
Our Products: Technology Solutions Infinity Batteries Commercial today Solid State Batteries i 1 1 1 1 Global partners & users 1 incevetopment stage 1 Superior Safety & Lowest Cost of . 5 0 ip ! Highest Energy Density 1 Based on proprietary separator and H Based on proprietary separator and electrol
Slide 18: Our Products: Next Gen-Solid State Batteries (SSB)
Our Products: Next Gen-Solid State Batteries (SSB) -< State Promises Much Higher Energy Den: More Range, Less Weight, Less Cost EV penetration in the global vehicle market Solid State Batteries offer 2X Energy Density over conventional lithium ion batteries= more range, less weight, less cost 2022 4
Slide 19: Our Products: Our Approach with SSB
Our Products: Our Approach with SSB ° i SSB platform incorporates versatile, proprietary technology Four Solid State Battery Related Patents Have Been Filed Single Javer Pouch stack Current collector Proprietary Ceramic Composite separator High loaded NMC + Catholyte Cathode current collector (duit
Slide 20: Financial Performance: 100% CARG over Years
Financial Performance: 100% CARG over 2 Years Market demand provides STRONG TAIL\ for accelerating revenue growth Key Revenue and Margin Drivers FY 2023 revenue more than doubled due to increased orders driven by strong market demand e Targeting ~30% gross margin = Q32023 gross margin for battery un
Slide 21: Financial Performance: Profitability Inflection Achieved
Financial Performance: Profitability Inflection Achieved Reaching an Quarterly Net Profit (USD'000) Quarterly Adjusted EBITDA* (USD'000) base ” | | 0 | |_| a 1431 | a8 1586 4 em an ams ams ames am am aims ams was No significant increase in operating costs in 2023 © Operational efficiencies and cost
Slide 22: Summary Balance Sheets and Cap Table
Summary Balance Sheets and Cap Table Select Balance Shi (USS in thousands) Cash Trade and other receivables Inventories Other current assets Long-term assets Total Assets Trade & other payables Short-term debt (Other Liabilities Total Liabilities Total Equity (Deficiency) Total liabilities and equit
Slide 23: Management Team
Management Team Dr. Raj S. Das Gupta, CEO, Director Raj has been with the ‘company since 2009 and became CEO in 2022 following his previous role as COO. Raj attended Imperial College, London; MIT; and the University of Cambridge, where he received his Doctorate in Materials Science _ Celectrovaya Jo
Slide 24: Board of Directors
Board of Directors Prof Carolyn Hansson, Director Professor Carolyn Hansson OM, FCAE, FRSC has a lng and distinguished ‘career in industries such as Lockheed Martin (Martin Marietta), Danish Corrosion Labs and Bell Labs as well in academia (Waterloo, ‘Queens, Cohimbia & SUNY) and was eadier a member
Slide 25: Investment Highlights
Investment Highlights Premium Product Performance and tndustry Leader NextGen Technology Providing the safest’ & Infinity Technology Solid State bro.yate leaped lithium significant competitive | Battery technology ee aloe echinology advantages provide developments will pricing power and be game-chan
Slide 26: Investor & Media queries
C-electrovaya Investor & Media queries, please contact: Jason Roy Director, Corporate Development & Investor Relations Phone: 905-855-4618 Email: Web: Toronto Stock Exchange (Nasdaq:ELVA) & (TSX:ELVA)