Electrovaya Inc. · TSX:ELVA
Electrovaya — Investor Presentation (October 2025)
25 slides from Electrovaya's investor presentation, October 2025
Slide 1: Investor Presentation
Investor Presentation October 2025 (All figures in USD) NASDAQ : ELVA TSX : ELVA S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-looking statements: This presentation contains forward-looking statements and forward looking information (collectively, "forward-looking statements"), including statements that relate to, among other things, the size of the Company's addressable market and target verti
Slide 3: Electrovaya at a Glance
Electrovaya at a Glance Infinity Technology – Safety & Longevity Domestic Manufacturing ✓ High performance battery systems for high and ✓ Existing Engineering & Systems manufacturing in low voltage applications Mississauga, Ontario with a recent second shift added to meet increasing demand ✓ Industr
Slide 4: Electrovaya is Critical for Addressing Battery Safety Requirements
Electrovaya is Critical for Addressing Battery Safety Requirements Lithium Ion Fires Cycle Life × Lithium ion fires can last longer, cause extensive damage × Short cycle life increases replacement frequency and raises total disrupting operations cost of ownership × Fires are difficult to extinguish
Slide 5: Electrovaya's Batteries Outperform Standard Batteries
Electrovaya's Batteries Outperform Standard Batteries Fully embedded ceramic separators reduce Safety risks propagating fire One 14,000-cycle lifespan lasts 10–15 years of Longevity daily use. Outlasts typical batteries by 3–5x Jamestown, NY lithium-ion cell output will utilize Production domestic /
Slide 6: Mission-Critical Applications Require Higher Cycle Technology
Mission-Critical Applications Require Higher Cycle Technology Longer Life Batteries Lower Cost of Ownership Longevity Initial Capacity (Cycles) Energy Storage 15,000 E-Bus Forklift (MHE) EV E-Bike Consumer 6,000 Electronics 5,000 2,000 500 1000 2,000 5,000 9,000 Top-3 Japan Top-3 Korea Top-3 China E
Slide 7: Electrovaya Occupies a Differentiated Position in Landscape
Electrovaya Occupies a Differentiated Position in Landscape Traditional Li-Ion / Graphite Silicon Anode / Solid State ✓ The highest safety standards – × Prone to thermal runway × Highest energy density, but 30,000+ batteries deployed with no expensive to manufacture incidents × Higher replacement fr
Slide 8: $66B Market Opportunity
$66B Market Opportunity Material Handling • Infinity batteries are the safest NMC-based Li-ion option for high-risk $6B environments like busy warehouses • Over 70% of sales with Fortune 500 companies ESS • Infinity tech offers ultra-long cycle life reducing replacements by multiples for $55B datace
Slide 9: Customers and Partners – Infinity Batteries
Customers and Partners – Infinity Batteries Strategic Partnership Select OEM Customers End Users Example (not a full list) Click to edit Master text styles electrovaya.com 9 NASDAQ : ELVA | TSX : ELVA
Slide 10: Electrovaya Powers Mission Critical Applications 24/7
Electrovaya Powers Mission Critical Applications 24/7 30,000+ 200+ Enables mission- critical operations Infinity Battery systems deployed Warehouses & logistic centers powered by Electrovaya Click to edit Master text styles electrovaya.com 10 NASDAQ : ELVA | TSX : ELVA
Slide 11: Infinity Technology – Safety is Our Top Priority
Infinity Technology – Safety is Our Top Priority Infinity Batteries Provide Additional Typical Batteries Propagate Fire Prevention to Fire Propagation No fire Nail Penetration Test Nail Penetration Test Fire Propagation Test No flames escaped the Risks costly damage battery enclosure and downtime No
Slide 12: Product Differentiation
Product Differentiation Ceramic Separator Technology Coated PO Full Ceramic Heat Stability Advantage: Unlike competitors' ceramic coatings that can shrink or deform under high temperatures, Electrovaya's ceramic separators maintain their structural integrity, ensuring consistent performance even in
Slide 13: Electrovaya's Solid State Technology
Electrovaya's Solid State Technology Infinity Batteries provide industry leading longevity with the potential to expand its TAM with new product development in solid state leveraging its proprietary separator technology Proof-of-Concept Separator Scaling to > 100cm² SSB Pouch Cell Development Separa
Slide 14: Leveraging Longevity Advantage
Leveraging Longevity Advantage Recurring Revenue Growing Segments Approx. Target Margins Lease/Rentals • Lower upfront costs (with OEM-supported 0-5 yrs : 30% residual value) 6-10 yrs: 80% • Ability to participate in off-lease opportunities • Rentals are a small but growing offering and in 11 yrs +
Slide 15: Product and Market Expansion Roadmap
Product and Market Expansion Roadmap Accelerating growth through innovative product rollouts and capturing new end market opportunities Solid State Separator R&D Long- ESaaS Model term Scaling Mid- ESS Launch term Robotics & GSE Infinity Batteries in Deliveries 2026 Founded in 1996 Motive Power 2025
Slide 16: Global Reach
Global Reach Electrovaya Corp & Labs Mississauga, ON, CA Electrovaya Gigafactory Jamestown, NY, USA Electrovaya Japan Coming Soon Click to edit Master text styles electrovaya.com 16 NASDAQ : ELVA | TSX : ELVA
Slide 17: US Manufacturing Expansion
US Manufacturing Expansion Jamestown Facility: Groundbreaking facility with no execution or financing risk Provides reliable, domestic supply of Financing Secured lithium-ion cells (built in America) • ~$51M million loan from EXIM with interest deferral to Vertical integration will improve margins 2
Slide 18: Achieved Financial Inflection Point
Achieved Financial Inflection Point One of the only profitable advanced battery companies in North America Quarterly Performance ($ in M) $17.1 Key Stats $15.0 $55M $6.9M $11.6 TTM Revenue TTM Adj. EBITDA $11.2 $10.3 17.0% 12.9% 13.3% 9 $60M+ Consecutive Quarters FY 2025 Revenue 5.8% 5.4% 5.3% 5.3%
Slide 19: Financing Growth
Financing Growth Sources Uses Export-Import Bank U.S Gigafactory $51 million senior secured working $150-200m revenue capacity capital facility generation Working & Equipment Capital BMO Corp Banking Working Capital Management $25 million senior secured working Supporting $100m+ in annual capital fa
Slide 20: Summary Balance Sheets and Cap Table
Summary Balance Sheets and Cap Table Select Balance Sheet Items CapTable as of 06/30/25 (US$ in thousands) 06/30/2025 06/30/2024 Outstanding shares 40,106,915 Cash & Equivalents $1,290 $534 Outstanding warrants 1,420,000 Total Assets 53,871 37,810 Short-term Debt – 18,164 Outstanding stock options 4
Slide 21: Investor & Media Queries Please Contact:
Investor & Media Queries Please Contact: Jason Roy VP, Corporate Development & Investor Relations Phone: 905-855-4618 Email: jroy@electrovaya.com Web: www.electrovaya.com Click to edit Master text styles electrovaya.com 21 NASDAQ : ELVA | TSX : ELVA
Slide 22: Appendix
_ Gelectrovaya
Slide 23: Key Tailwinds
Key Tailwinds Movement Towards Continued Expansion of Appetite For High A.I Brains Wanting Domestic Manufacturers E-Commerce Performance Batteries Batteries Imported lithium-ion batteries Warehouses need to operate for Customers are noticing the need A common topic as been may see significant tariff
Slide 24: LTM Financial Summary
LTM Financial Summary TTM Sales ($000s) TTM Operating Income ($000s) 54,859 3,878 49,490 1,813 Q3 2024 Q3 2025 Q3 2024 Q3 2025 TTM Adj. EBITDA ($000s) TTM Adj. EBITDA Margin (p.p) 6,904 12.6% 9.5% 4,724 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Click to edit Master text styles electrovaya.com 24 NASDAQ : ELVA
Slide 25: LTM Financial Summary
LTM Financial Summary Sales from 9 Months Ending June 30th ($000s) Operating Income 9 Months Ending June 30th ($000s) 43,320 3,168 33,060 19 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Adj. EBITDA 9 Months Ending June 30th ($000s) Adj. EBITDA Margin 9 Months Ending June 30th (p.p) 5,447 12.6% 7.8% 2,582 Q3 2024