Heramba Electric Plc · OTC:PITEF
Heramba Electric — SPAC Merger (February 2024)
37 slides from Heramba Electric's SPAC merger presentation, Feb 20, 2024
Slide 1: Investor Presentation February 2024
1 Investor Presentation February 2024
Slide 2: Disclaimer
Disclaimer 2 About this Presentation This investor presentation (this “Presentation”) is provided for informational purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the “Business Combination”) between Project Energy Reimagin
Slide 3: Disclaimer (Cont'd): Forward-Looking Statements
Disclaimer (Cont’d) 3 Cautionary Statement Regarding Forward - Looking Statements Certain statements included in this Presentation that are not historical facts are forward - looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Ac
Slide 4: Disclaimer (Cont'd): Participants in Solicitation
Disclaimer (Cont’d) 4 Participants in Solicitation Heramba, PERAC and Holdco and their respective directors and certain of their respective executive officers, other members of management and employees, under SEC rules, may be considered participants in the solicitation of proxies with respect to th
Slide 5: Disclaimer (Cont'd): Financial Information; Non-IFRS Financial Measures
Disclaimer (Cont’d) 5 Financial Information; Non - IFRS Financial Measures The financial information and data contained herein have been prepared based on the historical financial statements of Kiepe Electric for the periods presented. Kiepe Electric’s independent auditor has not reviewed or perform
Slide 6: We help cities shift seamlessly to green mobility
6 “We help cities shift seamlessly to green mobility by supplying reliable, modular and integrated electrical products”
Slide 7: Kiepe Electric Is Led by a Seasoned and Experienced Management Team
Kiepe Electric (“Kiepe”) is Led by a Seasoned and Experienced Management Team ALEXANDER KETTERL Chief Executive Officer With Kiepe Since 2020 With Kiepe Since 2021 With Kiepe Since 2023 With Kiepe Since 1995 With Kiepe Since 2021 Kiepe Management Team VELIMIR TATALOVIC Chief Financial Officer CHRIST
Slide 8: PERAC Management Team & Board of Directors
Project Energy Reimagined Acquisition Corp. (“SPAC”) – Management Team & Board of Directors SRINATH NARAYANAN Chief Executive Officer & Director S A N J AY MEHTA President & Director PRAKASH RAMACHANDRAN Chief Financial Officer & Director DAVID ROBERTS Chief Operating Officer MICHAEL BROWNING Chairm
Slide 9: Kiepe at a Glance
Kiepe at a Glance ▪ Manufactures standardized or tailor - made power electronics products, electric drive components and control devices for public transit vehicles ▪ One of world’s leading specialists in In - Motion Charging ( “IMC” ), making uninterrupted e - Bus operation 24 hours a day possible
Slide 10: Powering the Era of Sustainable Mass Transit
10 Powering the Era of Sustainable Mass Transit IMC e - Bus Platform Paris HPC e - Bus First e - Bus in 1950 SFM 2 mHPC 3 HPC Platform ICC 1 Cybersecurity 1 TRACK RECORD with more than 70 years of experience REAL PRODUCTS in past, present and future 2 Outstanding operational PERFORMANCE 3 Continuous
Slide 11: Focused on Solutions that Drive the Electrification of Urban Transportation
11 Focused on Providing Solutions that Drive the Electrification of Urban Transportation Propulsion Type Vehicle Type Vehicle Type Use Case Value Chain Power Rating Battery Electric Diesel Compressed Natural Gas ( “CNG” ) Liquified Natural Gas ( “LNG” ) Hybrid Fuel Cell Transit Bus (High Voltage Ele
Slide 12: Commercial Vehicle Electrification Is at an Inflection Point
12 Commercial Vehicle Electrification Is at an Inflection Point, and… 2023E 2024E 1) Federal Transit Administration 2) Represents % of new vehicle purchases 3) California Governor’s Executive Order N - 79 - 20 4) California’s Advanced Clean Truck rule: also adopted by MA, NJ, OR, and WA 5) New York
Slide 13: Kiepe Is Well Positioned in First Commercial Vehicle Segments to Electrify
…We Believe Kiepe is Well Positioned to Capitalize on Some of the First Commercial Vehicle Segments to Electrify Source: Roland Berger Research ▪ Electric city buses are a major lever for governments to reduce CO 2 urban emissions – Many cities around the world have already taken important steps tow
Slide 14: Integrated Technology Ecosystem
Integrated Technology Ecosystem HPC Infrastructure Solutions from Kiepe e - Buses Built with Kiepe’s Systems and Components Rail Vehicles Built with Kiepe’s Electrical Systems and Components Power from Streetcar or LRV Rail Catenary K - Charger e - Bus e - Bus Overhead Connector Kiepe software solut
Slide 15: Proven Partnerships with Global Industry Leaders
Proven Partnerships with Global Industry Leaders Total Vehicle Value (2/3) Mechanical ▪ Design and engineering for Kiepe and third - party scope ▪ System integration inclusive of Kiepe and third - party scope ▪ Supplier management ▪ Homologation and documentation ▪ Manufacturing, installation and co
Slide 16: Digital Solutions for Efficient Fleet Management
Digital Solutions for Efficient Fleet Management Collected data enables transportation authorities to schedule and respond with precise actions Data collection and exchange regarding consumption, distance and performance in real time Periodic transmission of the process data to the base station of t
Slide 17: With 70+ Years of e-Bus Experience, Kiepe Is a Pioneer
With 70+ Years of e - Bus Experience, Kiepe Is a Pioneer for Electrical Vehicle Systems Development of Kiepe’s Buses & E - Mobility Segment Technology Key Milestones Delivery of first electrical bus in 1950 in Aachen Description Largest order intake for 700 trolleybuses in Argentina in 1952 Vehicle
Slide 18: $45.5 Billion Urban Transportation Market Primed for e-Mobility
Massive $45.5 Billion Urban Transportation Market Primed for e - Mobility & Electrification High Power Charging Commercial Electric Vehicles Rail Vehicles $11B 2023P 18 $34B 2026P $1.4B 2023P $2.8B 2026P $33B 2023P $36B 2026P Source: Roland Berger Research
Slide 19: Current EVS Product Offerings
Current EVS Product Offerings M6 M3 M2 M9 M5 M1 M4 M2 M3 M9 ▪ Training ▪ Repair center ▪ Spare Part Package ▪ Warehousing & logistic solutions ▪ Service & maintenance contract M8 M7 Charging system Power Distribution Battery System Traction Engineering capabilities ▪ System Design & Integration ▪ Ob
Slide 20: Kiepe's First High Power Charging Contract
Kiepe’s First High Power Charging Contract Underscores Growth Potential Paris – Île - de - France Mobilités “For this project, Île - de - France Mobilités has put its faith in our highly experienced consortium and innovative High Power Charging (HPC) concept for buses. For Kiepe, this successful bid
Slide 21: Kiepe's RVS Segment: Founding and History
Kiepe’s RVS Segment: Founding and History Technology Strong track record of providing reliable customer - specific electrical systems for rail vehicles Development of Kiepe’s RVS Segment Key Milestones Description Traction converter main line applications New cyber secure CAN and Ethernet TCMS Leipz
Slide 22: Current RVS Product Offerings
Current RVS Product Offerings Electrical systems for rail vehicles and modernizations 4 6 11 2 3 7 13 10 1 5 9 8 9 5 7 7 3 7 7 12 11 Kiepe Supplier 22 1 2 9 System integration: I&C, energy mgmt., vehicle control & diagnostics Power electronics (traction converter, on - board converter) Kiepe emergen
Slide 23: Kiepe Electric Charging Solutions Address Needs of Various End-Markets
Kiepe Electric Charging Solutions Address Needs of Various End - Markets Multiple Fast - Charging Solutions City Catenary High Power Charger (cHPC) 600, 750 VDC Upon demand 100 – 300 kW Panto, CCS Supply Battery Charging Point Power Interface to Vehicle Mobile High - Power Charging (mHPC) 3x400 VAC,
Slide 24: Significant Experience with Flagship Projects in the RVS Segment
Significant Experience with Flagship Projects in the RVS Segment Sales of top 10 RVS projects in 2020 - 2022 (in Euro million) 119,8 2020 - 2027 19,8 2020 - 2022 25,8 2021 - 2023 18,9 2017 - 2023 19,4 2020 - 2024 6,1 2020 - 2022 87,6 2023 - 2026 28,5 2022 - 2024 29,7 2020 - 2023 30,0 24,8 19,9 14,4
Slide 25: Strong European Customer Base Opens Doors for Future Projects
Strong European Customer Base Opens Doors for Future Projects and Markets Historical projects Awarded projects Potential future opportunities or further options Gothenburg Erfurt Braunschweig Projects Austria Leipzig/Görlitz/Zwickau 39 High - floor LRV Euro ~48 million + 142 opt. vehicles 42+233 Hig
Slide 26: Largest Single Order in Kiepe's History
Largest Single Order in Kiepe’s History 1) Including Knorr - Bremse doors and brakes, but excluding optional vehicles Case study – Cologne ‘’A new generation of low - floor vehicles has been ordered from the consortium Alstom and Kiepe and the City Council has already approved the purchase of a furt
Slide 27: Growing Installed Base Drives High-Margin Service Business
Growing Installed Base Drives High - Margin Service Business Current Modernization Partners in Germany Service Offerings Maintenance Services Spare Parts Distribution Modernization Repair Center Aftersales Services Refurbishment Projects Measurement and Test Equipment Components / Systems Hybridizat
Slide 28: Modernization Is a Green Path to Profitable Growth
We Believe Modernization is a Green Path to Profitable Growth Why Modernization? x Green: Modernized vehicles require less CO2 and enforce conscious utilization of resources x Cost - Efficient: Modernization costs 25 - 40% of the price of purchasing a new fleet (based on historical modernization pri
Slide 29: Case Study: Maintenance Contract – Gmunden
Delivery of 360 - Degree Maintenance Services Case study – Maintenance contract – Gmunden “Considering the planned minimum service life of almost 40 years, it quickly becomes clear how important careful maintenance and servicing of the vehicles is. With the new workshop infrastructure, we are flexib
Slide 30: Established Global Presence Provides Solid Foundation for Growth
30 Established Global Presence Provides Solid Foundation for Growth 1) FTEs in Alpharetta are very volatile (employed >50 FTEs in the past for project Dayton 2019) 2) FTEs belong to the Knorr - Bremse Technology Center but are contracted by Kiepe; – 24 FTEs targeted by December 2024 3) Part of Kiepe
Slide 31: Kiepe's Growth Vision
Kiepe’s Growth Vision Provide “One - Stop - Shop” e - mobility solution to OEMs in North America New business opportunities in charging solutions with existing power supply infrastructure 1 Expand e - Bus business in North America with existing and new partners 2 3 Hybridization (Battery Solutions)
Slide 32: Strong, Robust Revenue Base and Trajectory
€ 109,265 € 119,788 2021A 2022A € 58,335 € 67,605 1H 2022 1H 2023 Strong, Robust Revenue Base and Trajectory Due to Favorable Growth Drivers 1’H’2022 and 2023 Revenue FY 2021 and 2022 Revenue € in 000s € in 000s 32
Slide 33: Selected Comparable Public Companies
2023 Revenue Growth 16% 15% 3% 194% 188% 45% 4% NA 79% 70% 53% 50% 7% 5% 1% - 2% - 4% Median: 15 % Selected Comparable Public Companies Source: S&P CapIQ as of February 9, 2024 3.4x 0.5x 0.5x 16.4x 14.5x 4.0x 2.6x 1.8x 13.0x 9.1x 7.1x 6.2x 2.8x 2.0x 1.9x 1.2x 1.0x 3.0x 0.5x 0.4x 5.0x 2.5x 1.4x 1.2x
Slide 34: Transaction Overview
34 Transaction Overview Pro Forma Ownership Pro Forma Valuation $367.0 Heramba Electric Rollover Equity (M) 55.8 PF Shares Outstanding (M) $10.00 Share Price ($) $558.2 PF Equity Value ($M) $40.0 (+) New Growth Capital ($169.4) ( - ) PF Cash ($M) $428.6 PF Enterprise Value Implied Sources & Uses Dea
Slide 35: Key Investment Highlights
Key Investment Highlights Innovative product and service portfolio 3 1 Attractive growth market driven by growing trend of emission - free public transport 2 Enables green public transport in cities around the globe 5 Resilient business model with strong recurring revenues 6 Entrepreneurial and expe
Slide 36: Kiepe – READY to START
Kiepe – READY to START Our Product and System portfolio is prepared for a strong PERFORMANCE in e - mobility. We are ready and have the potential to be a LEADER in e - mobility. 36
Slide 37: Consolidated Income Statement (IFRS)
37 Consolidated Income Statement (IFRS) 1H 2023 2022 2021 (€ in thousands) €67,605 €119,788 €109,265 Revenue €67,002 €118,879 €114,359 Total Operating Performance (€65,853) (€136,625) (€142,333) Operating Expenses (97.4%) (114.1%) (130.3%) % of Revenue €1,149 (€18,015) (€27,973) Operating Profit 1.7