Slide 1: Welcome to Next Generation GPS
Welcome to Next Generation GPS
Slide 2: Today's Agenda
Dan Hight Vice President of Business Development and Partnerships Addressable Markets Today’s A g e n d a David Knutson Senior Vice President of Network Operations and Deployment Chris Gates Chief Financial Officer Arun Raghupathy Co - Founder, Senior Vice President of Engineering Ganesh Pattabirama
Slide 3: Disclaimer and Cautionary Note Regarding Forward-looking Statements
Disclaimer and Cautionary Note Regarding Forward - looking Statements This presentation (together with oral statements made in connection herewith, this “ Presentation ”) contains selected confidential information about NextNav, LLC (“ NextNav ”) and Spartacus Acquisition Corporation (“ Spartacus ”)
Slide 4: Company overview
Company overview 3
Slide 5: Neil Subin
Neil Subin CHIEF INVESTMENT OFFICER, MILFAM, A MEMEBER OF THE SPARTACUS SPONSOR 4
Slide 6: Unique sponsor & target partnership
Unique sponsor & target partnership SPARTACUS • Extensive history with NextNav’s people and assets • Nearly three decades of telecom experience • A history of transformational investments in wireless • High conviction in NextNav’s generational opportunity to transform GPS and drive topline growth St
Slide 7: Gary Parsons, Chairman
Di] nexruay Gary Parsons CHAIRMAN
Slide 8: GPS impact on the US economy approaching $ Trillion annually
GPS impact on the US economy approaching $ 1 Trillion annually and doubling every 2 - 3 years GPS is a single point of failure — we rely on it for aviation, agriculture, telecommunications, power grids, financial transactions, maps and more 7 Source: NextNav extrapolation of NIST sponsored study, co
Slide 9: Industry needs have evolved beyond tech created in the 60's
Industry needs have evolved beyond tech created in the 60’s Increased accuracy and availability in urban environments Indoor tracking and mapping Altitude data (3D location) Increased resilience and redundancy Increased security We need 8
Slide 10: NextNav is targeting a >$100 Billion addressable market today
NextNav is targeting a >$100 Billion addressable market today $4 Billion Mission - critical public safety and e911 $24 Billion Mass market, mobile apps, and data analytics $11 Billion Enterprise, IoT, and critical infrastructure >$50 Billion Upside from global expansion (1) $10 Billion Autonomous ve
Slide 11: Pinnacle and TerraPoiNT
P i nn a c l e • Service available in the U.S. market and currently in use • +4,400 cities Te r r a P o i N T • Initial deployment in top 50 U.S. markets • Terrestrial version of GPS 10
Slide 12: Ganesh Pattabiraman, President and CEO
Ganesh Pattabiraman PRESIDENT AND CHIEF EXECUTIVE OFFICER 11
Slide 13: NextNav is Next Generation GPS
NEXTNAV IS NEXT GENERATION GPS MORE AVAILABLE MORE RESILIENT MORE ACCURATE 12
Slide 14: NextNav Services
NextNav Services Pinnacle • Provides floor level ‘altitude’ with current GPS based horizontal technologies • Works on legacy and current handsets • Network currently deployed in +4,400 cities in the US in 2021 TerraPoiNT • Ground based solution to provide full 3D (X - Y - Z) positioning and timing c
Slide 15: Deep competitive moat
Deep competitive moat 100+ Patents Global intellectual property portfolio 2.4bn MHz - PoPs One - of - a - kind nationwide spectrum license portfolio +4,400 Cities Covered by NextNav deployed network 14
Slide 16: Spectrum license at core of competitive advantage
Spectrum license at core of competitive advantage Virtually nationwide, covering 93% of US population Sole commercial licensee / operator in LMS band Generous power limits Leverages cellular band 8 RF in devices Scarce low - band spectrum 9 0 2 9 1 9 . 7 5 927.75 9 2 8 freq (MHz) 900 MHz B r o a db
Slide 17: Sequential go-to-market plan
Sequential go - to - market plan Market Pe n e t r a t i o n Partnership with AT&T to launch NextNav services across US for FirstNet 1 Global S t a n d a r d Provider of highly reliable, critical, location services 3 Service P r o li f e r a t i o n Become key provider of location services to a wide
Slide 18: The NextNav opportunity set is global
The NextNav opportunity set is global • Target developed markets with similar characteristics to the US • Includes certain markets in the Americas, Western Europe, and East Asia • Near - term vertical opportunities in Canada, EU and Japan • Joint venture with Metcom (Sony and Kyocera) to deliver Nex
Slide 19: Dan Hight, VP Business Development and Partnerships
Dan Hight VICE PRESIDENT OF BUSINESS DEVELOPMENT AND PARTNERSHIPS 18
Slide 20: Deep customer & partner relationships across verticals
Deep customer & partner relationships across verticals M i ss i o n - cr i t i c a l public safety Mass market, mobile apps, gaming and data analytics Critical infrastructure, transportation and international 19
Slide 21: Making smart cities safe cities
Making smart cities safe cities • Partners with AT&T and FirstNet to provide real time, 3 D situational awareness to First Responders • NextNav technology proven to exceed FCC’s e911 vertical location accuracy mandate 240 MILLION 911 calls rely on GPS annually Source: NENA. MARKET OPPORTUNITY: 20
Slide 22: NextNav enables the app economy
NextNav enables the app economy • Inaccurate location and spoofing plagues apps today • First solution to provide floor level accuracy • Augmented reality requires precise location data • Large universe of apps utilize location data to enhance user experience and target advertising • 1 in 3 apps in
Slide 23: NextNav enables the gaming economy
NextNav enables the gaming economy • 2020 U.S. video game industry grew 27% to $56.9 billion in revenue • The global game market expected to grow from $ 175 . 8 billion in 2021 to more than $ 215 billion in 2024 >$215 Billion gaming economy in 2024 Source: NewZoo Global Games Market Report 2021. MAR
Slide 24: TerraPoiNT Markets
th TerraPoiNT Markets aN
Slide 25: Testimonials
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Slide 26: Arun Raghupathy, Co-Founder, SVP Engineering
Arun Raghupathy CO - FOUNDER, SENIOR VICE PRESIDENT OF ENGINEERING 25
Slide 27: The problem and solution
No current technology provides an accurate floor level altitude at scale P r o b l e m Solution Pinnacle System Purpose built network for delivering altitude at scale, using pressure - based techniques 26 THE PROBLEM AND SOLUTION
Slide 28: The execution challenge
• Reference pressure at a known height • Environment pressure at the user location • Difference between these pressures determines user altitude relative to known reference height Pressure - based altitude requirements • None required or were able to achieve 1 floor level (10 feet) accuracy • Errors
Slide 29: Pinnacle System: altitude generation from mobile devices
Pinnacle System ALTITUDE GENERATION FROM MOBILE DEVICES Device Sensor NextNav Cloud NextNav Altitude Stations Device sends reading NextNav altitude station data NextNav cloud sends altitude 28
Slide 30: Pinnacle Video
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Slide 31: TerraPoiNT Key Features
TerraPoiNT Key Features • Resilient 3 - D PNT solution with urban canyon and deep in - building coverage • Terrestrial broadcast network with unlimited capacity • Flexible network configurations with wide area macro networks or campus - area networks • Agile signal design that operates on any global
Slide 32: TerraPoiNT Video
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Slide 33: TerraPoiNT Video
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Slide 34: DOT report rankings
(1) Weighted score based upon accuracy, availability, product readiness, resilience and security. (2) Weighted score based upon accuracy, availability, product readiness, resilience and security. (3) Market readiness of Timing Performance using terrestrial RF broadcast. Full DOT report Source: DOT R
Slide 35: TerraPoiNT Testimonial video
TerraPoiNT Testimonial video 34
Slide 36: David Knutson, SVP Network Operations and Deployment
David Knutson SENIOR VICE PRESIDENT OF NETWORK OPERATIONS AND DEPLOYMENT 35
Slide 37: Pinnacle and TerraPoiNT network differences
P i nn a c l e TerraPoiNT FUNCTIONAL ELEME NETWORK DESIGN DRIV SITE LOCATIO INSTALLATION TIME PER S INSTALLATION SURVEY ACCURA Network Differences N TS Passive sensors Active broadcast transmitters E R S Atmospheric Conditions RF Signal Propagation N S Almost anywhere outdoors with power Valuable an
Slide 38: Network Deployments
Network Deployments US Deployments San Francisco Bay Area and initial deployment in top 50 U.S. markets Langley I n t e r n a t i o n al De p l o y m e n ts Partnership Tokyo, Japan P i nn a c l e TerraPoiNT Partnership Tokyo, Japan Partnership Nationwide Network +4,400 cities & towns 90% of commerc
Slide 39: Chris Gates, Chief Financial Officer
Chris Gates CHIEF FINANCIAL OFFICER 38
Slide 40: Massive operating leverage results in highly attractive unit economics
Massive operating leverage results in highly attractive unit economics Low variable cost to add incremental network traffic $0.89 Incremental EBITDA per dollar of incremental revenue Incremental dollar of revenue Incremental expense 39 Source: Management estimates.
Slide 41: Total revenue forecast
Key commentary Total revenue forecast • Mass Market apps becomes largest driver of revenue in 2022E • Revenue opportunity significantly expands once TerraPoiNT network build - out is complete in 2025E $2 $ 2 4 $ 7 5 $1 6 2 $3 0 8 $5 0 6 20 2 1 E 20 22E 20 23 E 20 24 E 20 2 5 E 20 2 6 E $ IN MILLIONS
Slide 42: Flexible pricing models
41 Flexible pricing models Public Safety Monthly User Fees Gaming / Ma s s - Mar k e t Enterprise / IOT Usage Fees (Fix, MAU, DAU, per device) Data & A n a l y t i c s C o n s u m e r Devices Revenue Share Enterprise / IOT Flat Fee Data & A n a l y t i c s International E911
Slide 43: Financial projections overview
2021E 2022E 2023E 2024E 2025E 2026E Total revenue $2 $24 $75 $162 $308 $506 % Growth NM 857% 215% 115% 90% 64% 7 3 % 46% ( 2 6 7 ) ( 4 9 ) (1 1 ) $ 2 2 4 ( - ) COGS ( 2) (6) (47) (103) (132) (138) Gross margin $0 $18 $28 $59 $176 $367 % Margin 1 8% 75% 37% 36% 57% 73% ( - ) R&D ( 2 6 ) (38) (46) (55
Slide 44: Transaction summary and pro forma ownership
Target Shareholders 62% SPAC Public Shareholders 17% Pro forma ownership PIPE Shares 17% Sponsor Shares 4% Transaction summary Sources 43 SPAC cash in trust (assumes 100% roll) (1) Target rollover equity (2) PIPE (3) $ 2 0 3 7 5 0 2 0 5 Total sources $1 , 1 5 8 Pro forma valuation Pro forma FDSO (6)
Slide 45: Investment highlights
Investment highlights Next Generation GPS solution will sit at the core of the app economy >$100 Billion total addressable market Growing list of Blue - chip customers including AT&T, Unity, Unreal, Gimbal, etc. Sequential d e p l o y m e n t limits risk Unrivaled ca p a b i l i t i e s powered by b
Slide 46: Next Generation GPS is here.
IN NEXTNAV Next Generation GPS is here.