Symbotic Inc. · NASDAQ:SYM
Symbotic — SPAC Merger (2022)
42 slides from Symbotic's SPAC merger presentation, 2022
Slide 1: Symbotic: Reinvent the Warehouse, Reimagine the Supply Chain
symbotic REINVENT THE WAREHOUSE® REIMAGINE THE SUPPLY CHAIN
Slide 2: Additional Information: Use of Non-GAAP Financial Information
Additional Information USE OF NON-GAAP FINANCIAL INFORMATION This communication contains non-GAAP financial measures, including adjusted EBITDA. Symbotic defines adjusted EBITDA, a non-GAAP financial measure, as GAAP net loss excluding the following items: interest income; income taxes; depreciation
Slide 3: Additional Information: Forward-Looking Statements (continued)
Additional Information FORWARD-LOOKING STATEMENTS (continued) In addition to factors previously disclosed in SVF’s Annual Report on Form 10-K filed with the SEC on March 23, 2022, the Registration Statement and the Final Proxy Statement/Prospectus and those identified elsewhere in this communication
Slide 4: Additional Information: Participants in the Solicitation
Additional Information PARTICIPANTS IN THE SOLICITATION SVF, Symbotic and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of SVF, in favor of the approval of the Business Combination. Additional inform
Slide 5: Chairman Rick Cohen
on. 1% Ty Bea lige die a Gur POU ngation: Chairman Rick Cohen
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Slide 12: Leadership: CEO Michael J. Loparco
rship CEO Michael J. Loparco
Slide 13: The Symbotic Solution: Overview, Advantages & Deployment
The Se maGtt E oitition Overview, Advantages & Deployment
Slide 14: Comprehensive Solution Overview
Comprehensive Solution Overview Software Architecture Multi-layer buffering structure & Symbots Inbound cells
Slide 15: Warehouse Management Alternatives
Warehouse Management Alternatives © bolic Distribution Centers Fulfillment/Micro-Fulfillment Centers @attavotios amazoncom | DEMATIC Bs<3 o KIVA Systems Honeywel KNAPP {+} AutoStore vs Seon cocks SSISCHAFER EXOTEC ~ n penne’ TAM ROBOTICS RIGHTHAND imei min VANDERLANDE (WITRON POCRIVER srerens _ ocad
Slide 16: Tangible Benefits
Tangible Benefits LO WY dramatically lower operating cost 99.9999% Task accuracy Increased pallet capacity Powerful ROI 5-9x outbound efficiency improvement SKU agility we Lower transport costs Sources: Management estimates from customers’ analysis of Symbotic’s systems compared to previous systems.
Slide 17: Strategically Addressed Markets
Strategically Addressed Markets SAM-1 plus I-FOOD, )VEMENT, AUTO PARTS, BIENT FOOD ALL VERTICALS Source: SWD Advisory (March 2022). 1. Walmart split evenly across general merchandise and grocery.
Slide 18: Long-Term Growth Strategy
Long-Term Growth Strategy MULTIPLE VECTORS FOR POTENTIAL GROWTH Symbotic is currently in discussions et with one of its largest existing pad \s customers with respect to a potential xc? material expansion of the size and ver scope of that relationship. There are new no assurances that such expansion
Slide 19: Philosophy: Triple Zero
Philosophy: Triple Zero : ZERO | COMMISSIONING TIME ZERO DEPLOYMENT TIME ZERO DOWNTIME
Slide 20: Deployment Accelerants
Deployment Accelerants al Map & Streamline Commissioning Enhance Supplier Base Balance Standardization with Innovation x Refine Design for Assembly Standardize PLC Libraries < Leverage Digital Twin/Simulation Yq
Slide 21: Technology: Software, Strategy & Innovation
oo. aXe Ty Bea lige die a | Techniataay Software, Strategy & Innovation
Slide 22: Software Architecture
Software Architecture Ssymbotic Ul SYMBOT FLEET SAFETY DEVICES CELLS, LIFTS CONVEYORS MINIBOT FLEET or t g 7 Lv v v Lv FIRE WALL CONTROL CONTROLS CONTROL CONTROL 7 LAYER it it SAFETY Mt BOT SERVICES SERVICES CELL AND LIFT SERVICES MINIBOTS it o nt u € s x a x x z= 0; t g 07 < 2 ' APPLICATION UNIT z
Slide 23: Case & Item Buffering
Case & item buffering Break Pack Solution Case atomizing a Minibots Outbound cells Inbound cells 23
Slide 24: Symbotic System
Symbotic System oS Se 55 5 oop oe eee oe? Break Pack . rater o-- »
Slide 25: Continuous Innovation - Case 'Bot Platform
Continuous Innovation - Case ‘Bot Platform Sensing & Processing Multiple Compute Platforms Powerful neural processor: Vision and Al Embedded real-time processor: High proformance control 8RGB |e Cameras Driving Traction Control Augmented Steering Suspension System Case Handling Handling While Drivin
Slide 26: Continuous Innovation - Case 'Bot Platform
Continuous Innovation - Case ‘Bot Platform Sensing & Processing Multiple Compute Platforms Powerful neural processor: Vision and Al Embedded real-time processor: High proformance control 8RGB |e Cameras Driving Traction Control Augmented Steering Suspension System Case Handling Handling While Drivin
Slide 27: Partnerships: SoftBank & Walmart
Partnerships SoftBank & Walmart
Slide 28: SVF3's Assessment
SVF3’s Assessment... EXCEPTIONAL TEAM ” Fe ALS Ambitious management team; experienced in technology and supply chain; well-positioned to succeed AW SUSTAINED, PROFITABLE GROWTH Strong value proposition with increased customer penetration, customer expansion and product-led growth; significant revenu
Slide 29: Customer Testimonial: Walmart
: , - ) i tt . ma. pti lias 2 @ Customer Testimonial: Walmart t
Slide 30: Financial Overview: Quarterly Results & Modeling Considerations
Fingncial OWerview Quarterly Results & Modeling Considerations
Slide 31: Q2'22 Highlights
Q2’22 Highlights REVENUE = Revenue in Q2’22 rose 315% YoY to $96.3 million as deployment continued for multiple customer production systems during the quarter. PROFITABILITY = Q2’22 gross margin of 17.6%, was up from 15.1% in Q2’21 but down sequentially from last quarter as steel cost increases were
Slide 32: Revenue and Gross Profit By Quarter
Revenue and Gross Profit By Quarter cin millions) REVENUE $131.5 $91.7 wea $77.1 $23.2 $3.5 _ Q2'21 Q3'21 Q4'21 Qi'22 Q2'22 Q2'21 GROSS PROFIT $14.5 19% $7.8 9% $(0.3) Q3'21 Q4'21 Qi'22 $16.9 18% Q2'22 32
Slide 33: Adjusted Operating Expenses By Quarter
Adjusted Operating Expenses By Quarter cin millions) $35.8 $31.9 $29.5 $27.8 Q2'21 Q3'21 Q4'21 Q1'22 BR&D SG&A $43.2 Q2'22 33
Slide 34: Quarterly Financial Summary
Quarterly Financial Summary Statement of Operations Unaudited (Sin millions, except Gross Margin) Q2'21 Q3'21 Q4'21 QU'22 Q2'22 YoY, REVENUE $23.2 S35 $91.7 $77.1 $96.3 315% GROSS PROFIT $3.5 ($0.3) $7.8 $14.5 $16.9 383% Gross Margin 15.1% (3%) 8.6% 18.8% 17.6% 247 bp ADJUSTED OPERATING EXPENSES R&D
Slide 35: Accounting Life of a Customer - Up to Acceptance
Accounting Life of a Customer - Up to Acceptance ~6 Mente ~8 mente ~4 iD, e Systems Revenue: Over time, using a cost-to-cost measure of progress (% of completion), starting with procurement e Cost: Starts with procurement and spread through the entire process e Cash Flow: Positive throughout the pro
Slide 36: Accounting Life of a Customer - Post Acceptance
Accounting Life of a Customer - Post Acceptance Cocic4 fot | Li ie Bowe SOFTWARE OPERATIONS PARTS e Software Maintenance and Support - starts at Preliminary Acceptance o Revenue recognized ratably over contract life e System Operation Services - starts during the ramp portion of the schedule, based
Slide 37: Key Provisions - Walmart Contract
Key Provisions - Walmart Contract * 2015 * 2016 F * 2017 2019 * 2021 Walmart & Symbotic sign The companies agree to System 1.0 launched. The companies contract for Walmartaccepts System 2.0 a5 initialMaterialsHandling develop System 1.0. The companies signan System 2.0. operational ‘Agreement. ‘Auto
Slide 38: Up-C Structure, Tax Receivable Agreement & Future Tax Impact
Up-C Structure, Tax Receivable Agreement (TRA) & Future Tax Impact = Advantages of the Up-C Structure o The Up-C structure allows Symbotic Inc. to benefit from an increased tax basis that reduces Symbotic Inc.’s taxable income. This would not be possible with a traditional IPO structure. = Tax Recei
Slide 39: Key Provisions - SVFC Merger
Key Provisions - SVFC Merger Cunique high quality) GROSS PROCEEDS $725MM Walmart $150MM Softbank FPA $200MM SPAC $320MM = Zero-warrants SPAC = $405MM in fully-committed capital exceeds the transaction’s minimum cash closing condition, reducing potential deal uncertainty risk = $200MM FPA from SoftBa
Slide 40: Pro Forma Equity Value and Ownership
1 Pro Forma Fully Diluted Equity Value and Pro Forma Ownership include $60MM of unvested warrants that are assumed by the successor company, valued using the treasury stock method. Excluding the value of these warrants, Pro Forma Basic Equity Value is $5,397MM, and there are 539.7MM pro forma shares
Slide 41: Leadership
oe i es 238 ye ae Pm ea a 1 S. 0 | j 3 symbotic eee ETE} 55 A0B 103 Pp \ =| Leadershi
Slide 42: Symbotic: Reinvent the Warehouse
symbotic REINVENT THE WAREHOUSE® REIMAGINE THE SUPPLY CHAIN