Slide 1: Microvast Holdings, Inc. Q3 2022
MICROVAST HOLDINGS, INC. Q3 2022 November 10, 2022
Slide 2: Disclaimer
Page - 2 DISCLAIMER Forward-Looking Statements • This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, o
Slide 3: Q3 Highlights
Page - 3 Q3 HIGHLIGHTS
Slide 4: Steady Business Growth Through Product Transition Period
Page - 4 Steady Business Growth Through Product Transition Period Challenges ▪ Raw material prices, especially lithium ▪ Delays from European customers ▪ Customer supply chain challenges ongoing ▪ US dollar appreciation and inflation H ig h li g h ts Q3 Key Stats $38.6M Revenue 4.7% YoY Revenue Grow
Slide 5: Robust Business Growth Through New Partnerships & Major Development Projects for Commercial Vehicle Solutions
5 Robust Business Growth Through New Partnerships & Major Development Projects for our Commercial Vehicle Solutions OEM Vehicle Battery Size Highlights Mining Truck LTO battery solution with ultra-fast charging (90 seconds) Consortium established to accelerate the electrification of mining industry
Slide 6: Financials
Page - 6 FINANCIALS
Slide 7: Condensed Consolidated Statement of Operations Q3 2022
Page - 7 Condensed Consolidated Statement of Operations (USD’000) Q3 2022
Slide 8: 2022 Q3 Adjusted Financials
Page - 8 2022 Q3 Adjusted Financials (USD’000) Non-GAAP Note: Complete reconciliations of these non-GAAP metrics to the most comparable GAAP metrics are included in the tables at the end of our earnings press release. Q3 2022
Slide 9: 2022 Q3 Revenue by Region
Page - 9 2022 Q3 Revenue by Region - (USD’000) Q3 Jan - Sep Q3 2022
Slide 10: Financial Highlights
10 Financial Highlights C o m m e n ts Q3 Financial Highlight Numbers Q3 2022 $415.7M $-11.9M $5MCash position Free Cash Flow Operating Cash Flow ▪ Closed ~$111M Senior Secured Project Financing – proceeds to be utilized for capacity expansion in Huzhou, China. Loan matures in December 2026 with ini
Slide 11: Anticipated Benefits from the Inflation Reduction Act (IRA)
11 Anticipated Benefits from the Inflation Reduction Act (IRA) ▪ Section 45X - production tax credit includes $35/kWh for battery cells and $10/kWh for battery modules. ▪ Extends investment tax credits (ITC) to standalone energy storage projects (including up to 10% bonus credits for projects meetin
Slide 12: Outlook
Page - 12 OUTLOOK
Slide 13: Selected by the U.S. Department of Energy for a $200 Million Grant
Page - 13 Selected by the U.S. Department of Energy for a $200 Million Grant • Microvast selected by the U.S. Department of Energy (“DOE”) to receive a $200 million grant. • Over 200 companies applied for $2.8 billion in grant funding; only 20 companies selected. • The DOE grant, plus funding to be
Slide 14: Preparing for Full Product Launches in 2023 Across CV and ESS Platforms
Page - 14 Preparing for Full Product Launches in 2023 Across CV and ESS Platforms ▪ Tightening annual revenue guidance; anticipate annual revenue growth of 35%-40% in 2022 compared to 2021 with solid backlog going into Q4. ▪ Excellent customer adoption of newly released products expected to fill sig
Slide 15: Thinking Forward. Powering Now.
Thinking Forward. Powering Now.