EnWave Corporation · TSXV:ENW
EnWave — Investor Presentation (November 2022)
27 slides from EnWave's investor presentation, November 2022
Slide 1: Corporate Presentation November 2022
Corporate Presentation November 2022 Global Leader in Vacuum Microwave Dehydration Technology ENWAVE.NET
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information based on management’s expectations, estimates and projections about the future, including statements about EnWave’s strategy for growth, product development, market position, expected expenditures and operational & financial results.
Slide 3: Our Guiding Vision
Our Guiding Vision To be the preferred advanced drying technology and solutions provider for partners at the forefront of the food and cannabis industries. Proven Robust Licensing Commercial-Scale Intellectual Technology Rapid Drying Property for Royalties Technology
Slide 4: EnWave is a global leader in vacuum microwave dehydration
EnWave is a global leader in the innovation and application of vacuum microwave dehydration Creators of REV™, patented Designer and More than 50 licensed apparatuses and processes manufacturer royalty-paying partners for vacuum microwave of reliable and scalable spanning over 20 dehydration technolo
Slide 5: The Precise Science of REV Technology
The Precise Science of REV Technology REV technology uses specific combinations of vacuum and microwave energy that allow for rapid, gentle drying of diversified organic materials. THE VACUUM ADVANTAGE THE MICROWAVE ADVANTAGE • Lower boiling point: fast, low • Efficient energy transfer: 85- temperat
Slide 6: Monetizing Our Innovation
Monetizing Our Innovation Diversifying The Commercialization of REV MACHINE SALES ROYALTY REVENUE 1 2 • Six standard machine • Building diverse royalty portfolio by designs ranging from licensing REV technology to food $250K to $2M. and cannabis producers globally. • Every machine used • Royalties a
Slide 7: Massive Addressable Market
Massive Addressable Market Value of Dried Consumer Products in Food & Cannabis $300 $269 $250 $200 $165 $148 $150 $100 $94 $65 $50 $56 $50 $21 $0 Air-Dried Food Freeze-Dried Food Global Cannabis Market TAM 2023 2026 Est. $US Billions
Slide 8: Snacking is on the Rise
Snacking is on the Rise Major Focus for REV Production Driving Factors We’re seeing an increased demand for... COVID increased at-home snacking Single-ingredient, clean-label, “better-for-you” snacks Increase in hybrid work models Natural, authentic and superior taste, color, and nutrition Global su
Slide 9: EnWave Business Unit
EnWave Business Unit Machine Sales Royalty Generation Toll Manufacturing
Slide 10: Expanding Portfolio of Partners
Expanding Portfolio of Partners 40 Global Food Partners, 10 Cannabis Partners and Counting
Slide 11: Third-Party Royalty Growth
Third-Party Royalty Growth 550,000 Base Royalties = Annual Minimum Royalties 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 oP yso'® ws ge™ ca ys ay y y* yoo _ po yy vee ee we oan omer.
Slide 12: Food Market Advantages
Food Market Advantages Proven Value in Food Industry Verticals RAPID GENTLE DRYING REDUCED FOOTPRINT + LABOUR Fresh to shelf stable at moderate Smaller footprint required when compared temperatures in less than 25% of the time with large air-dryers and freeze- drying required by incumbent drying met
Slide 13: Cannabis Market Advantages
Cannabis Market Advantages Advanced Drying Solutions for Cannabis Cultivation RAPID GENTLE DRYING REDUCED FOOTPRINT + LABOUR Dries product well below decarboxylation Reduced footprint and lower CAPEX to achieve point in just 2 hours; traditional room/rack same throughput of room/rack dry facilities.
Slide 14: REVworx
REVworx™ TOLL & CO- MANUFACTURING SQF Level II certified as of July 2022 1 2 3 4 5 Increases speed to Reduces financial Enables quick product Reduces Ability to scale market for REV dried risk for REV adopters testing operational burden REVworx to grow products ...by leveraging existing ...which sho
Slide 15: REVworx Toll Manufacturing
REVworx Toll Manufacturing Facility Complete; Production Began in Q2 2022 • Safe Quality Food (SQF) certification successfully obtained as of July 2022 to satisfy large CPG company QA/QC needs. • Currently engaging with food processing companies to conduct initial line trials. • REVworx will drive p
Slide 16: Lesser Environmental Impact
Lesser Environmental Impact Sustainable Production with the REV Drying Process MINIMAL CARBON FOOTPRINT HYDRO ENERGY EFFICIENCY Zero hazardous materials or chemicals used Significantly less power draw than competing Zero GHG emissions produced drying technology like freeze drying and air drying LOWE
Slide 17: NutraDried Business Unit
NutraDried Business Unit Branded CPG Snacks Co-manufacturing Bulk Dried Products
Slide 18: NutraDried Food Company
NutraDried Food Company Wholly-Owned Operating Subsidiary • Launched Moon Cheese as consumer brand in 2013. Proved • Single source ingredient REV machinery would work at • Low in carbs, high in protein large scale. • Gluten-free and keto-friendly • Moon Cheese Sticks lineup • Major retail distributi
Slide 19: Moon Cheese Path Forward
Moon Cheese Path Forward Objective • Become the go-to BFY cheese snack in the Alternate Snacks aisle Rationale • “Alternative” Snacking is leading the growth in the snack category Moon Cheese becomes the only cheese- Commercial Emphasis • focused brand in the Alt Snacks set 1. Focus on Grocery/Natur
Slide 20: Grocery Consumption Continues Growth
Grocery Consumption Continues Growth Whisps & ParmCrisps declines are accelerating US Food $ Growth vs Prior Year 45.0% 34.4% 23.4% -0.2% -8.2% -7.1% -18.9% -26.4% -28.8% 13 Weeks 26 Weeks 52 Weeks Whisps Parm Crisps Moon Cheese 20 Source : IRI Total US 52 Weeks ending 8/9/22
Slide 21: Consolidated Financial Profile
Consolidated Financial Profile • Multiple revenue ($'000s) 2022 2021 2020 2019 2018 streams: Moon Cheese, Q3 YTD Machine Sales, Partner Moon Cheese Sales (net) 10,508 14,010 22,948 29,994 16,474 Royalties and REVworx. Machinery Sales & Rentals 7,173 11,547 9,100 12,113 5,780 • Growing high margin, R
Slide 22: Capital Structure
Capital Structure TSX-V:ENW | FSW:E4U Average Daily Volume 79,620 (Last Three Months) Total Shares Outstanding 110,440,055 Insider/Management Shares 2,431,411 Fully Diluted 119,501,655 Market Capitalization $47.5 million (Calculated on Nov 30, 2022 closing price of $0.43) As of Nov 30, 2022. NOTE: S
Slide 23: Fiscal 2023 Targets
Fiscal 2023 Targets • Invest strategically to advance internal capabilities and leverage third party channel partners – i.e. rep and reseller channel partners for sales and manufacturing partners for scaling our business. • Commercialize REVworx and secure customers to utilize installed capacity and
Slide 24: Reasons to Own ENW
Reasons to Own ENW • Disruptive advanced drying technology with a substantial competitive advantage • Significant market opportunity in large, diversified, addressable market globally • Proven technology and diversified monetization strategy • Scalable, high margin business model in place; royalties
Slide 25: Appendix
Appendix ENWAVE.NET
Slide 26: Leadership / Management
Leadership / Management • Proven history of advancing and accelerating businesses in John P.A. Budreski addition to an engineering background MBA • 30+ years of extensive capital markets and executive experience Executive Chairman including roles at Scotia Capital, Cormark Securities and multiple ad
Slide 27: Leadership / Board of Directors
Leadership / Board of Directors Mary C. Ritchie • President and CEO of Ritchford Holdings Ltd. FCA • Fellow of the Canadian Institute of Chartered Director Accountants Chair of Audit Committee Patrick Turpin • Co-Founder of Popchips Director • 30+ years of experience leading consumer packaged goods