Slide 1: Elop Market update
Elop Market update 10.6.2022
Slide 2: Cautionary note
Cautionary note This presentation includes forward-looking information and statements that are subject to risks and uncertainties. Actual results may differ significantly from those communicated herein. Such forward-looking information pertain to, amongst other things; (a) forecasts, projections and
Slide 3: Agenda
Agenda • Business update • Elop’s way forward • Q&A 3
Slide 4: Highlights
Highlights • The sale of Simplifai - an important strategic enabler for Elop • Growing distribution network, new distribution partner signed for Sweden • Successful Elop Insight tests completed with Implenia and Fraunhofer • Successful exhibition at Geo Connect Asia • Multrawheel patent in USA • Dem
Slide 5: Simplifai sale signed – enabling Elop to take strategic steps
Simplifai sale signed – enabling Elop to take strategic steps • Sale of Simplifai signed at EV NOK 140 million1 • Transaction expected to close end of June 2022 • Synergy potential exploited • Strong financial position for Elop • Enabling strategic moves and capitalizing on opportunities • Reduces m
Slide 6: Expanding distributor & partner network
Expanding distributor & partner network • Distributor agreements signed for all continents (except south America) • Currently present in 27 countries +5 • Ongoing discussions with multiple distributors expected to be announced throughout the year • Goal: Global distribution coverage within 12 months
Slide 7: Technology development highlights
Technology development highlights • New software version launched in May, with better user experience • New architecture design for cloud platform • New algorithms to improve image quality and visualization • Development and production lab in India • Adjustments to make Elop Insight more user friend
Slide 8: 50 field tests completed, demonstrating stakeholder value and providing valuable insight
50 field tests completed, demonstrating stakeholder value and providing valuable insight Selected completed field tests and product demonstrations BAM (German Federal Institute for Materials Research and Testing) German Fraunhofer Society, Europe's biggest organization for applied research and devel
Slide 9: Elop Insight acknowledged by Fraunhofer, proving the viability of the solution
Elop Insight acknowledged by Fraunhofer, proving the viability of the solution “We are impressed by the speed of Elop’s solution, seeing its scanning and quality data generation capabilities for concrete inspection” Prof. Dr. Ute Rabe of Fraunhofer- Institute for Non-destructive Testing (IZFP). 9
Slide 10: US patent for Multrawheel technology for composite materials
US patent for Multrawheel technology for composite materials • Advanced discussions with market players to co-develop the technology • Allows for 10x faster inspections than any other known methods used today • Awarded seal of excellence by the European Investment Council (EIC) for excellent ideas w
Slide 11: No need to take the risk anymore
No need to take the risk anymore - Safety risks Are there any voids - Cost risks inside and behind the prefabricated concrete - Reputational damage risk liner? Checklist before accepting delivery: ✓ Cracks? Is the thickness and rebars ✓ Air pockets? according to specifications? ✓ Delamination? ✓ Cor
Slide 12: Agenda
Agenda • Business update • Elop’s way forward • Q&A 12
Slide 13: Market still in infancy, but with huge global potential
Market still in infancy, but with huge global potential • Unique, patented, technology that has tremendous potential • The technology is new, and it takes time to develop the market • No requirements from owners of infrastructure, neither for quality control of new buildings nor for inspection of ex
Slide 14: Simplifai divestment = Elop's response to changing financial markets
Simplifai divestment = Elop’s response to changing financial markets • The financial market has changed significantly and there is now a strong focus on earnings • Companies with new technology, that will open new markets are no longer as attractive among investors Jan 21 – closing of Simplifai acqu
Slide 15: Adapting Elop's strategy: Targeting value beyond provision of products
Adapting Elop’s strategy: Targeting value beyond provision of products • Elop Technology seeks to expand value add beyond being a product provider • Looking for opportunities to move into adjacent segments across the value chain • Leverage proprietary hardware data to drive deep insight • Goal to be
Slide 16: Elop to leverage its position and the market turbulence to grow through M&A
Elop to leverage its position and the market turbulence to grow through M&A Newco 1 Elop Technology Newco 2 To be announced Inspection hardware & To be announced software 16
Slide 17: Coming up
Coming up • General assembly to be held 29.6.2022 • Invitation to be sent out 22.6.2022 • Nomination committee to propose new members to the Board of Directors • Expected soon to announce first move according to new strategy • Target to become cash flow positive in 2023 17
Slide 18: Agenda
Agenda • Business update • Elop’s way forward • Q&A 18