Ceres Power Holdings Plc · LSE:CWR
Ceres Power — Merger or Acquisition (October 2020)
12 slides from Ceres Power's merger presentation, Oct 19, 2020
Slide 1: Ceres and Doosan Expand Strategic Collaboration
Slide 2: Strategic rationale
—/’ Strategic rationale + Doosan Fuel Cell, the world’s stationary power fuel cell market leader, acquires a non- exclusive licence to manufacture Ceres solid oxide fuel SteelCell® stacks + Doosan plans to build a manufacturing facility in South Korea with an initial |OMW capacity anticipated by 202
Slide 3: Financial terms of the deal
—/ Financial terms of the deal + Ceres, Doosan Fuel Cell Co., Ltd. and Doosan Corporation sign strategic collaboration and licence agreements Bee Doosan - Ceres Power - Doosan Fuel Cell Strategic Collaboration Agreement Signing Ceremony + Total deal value of up to £43 million with licence fee, techn
Slide 4: Deepening engagement with a key partner
_/ Deepening engagement with a key partner SOMW Volume manufacturing Royalties from stacks manufactured Royalties per kW poccccccece Royalties from systems sold Royalties per kW > T T July 2019 October 2020 CONFIDENTIAL © Ceres Power Ltd 2020
Slide 5: Revenue evolution
Revenue evolution ULL MARKET . F PARTNERS’ INVESTMENT IN LAUNCH MASS PRODUCTION FACILITIES Royalties Advance licence fees from manufacturers & OEMs Supply for Supply for customer programmes customer programmes thet services FY Revenue : Near-term growth ' Future *2019/20 12 months ended 30 June 2020
Slide 6: Doosan Fuel Cell press release: Developing Korean high efficiency SOFC
© 6 * Doosan Fuel Cell press release : Developing Korean high efficiency SOFC
Slide 7: South Korea: A key hydrogen fuel cell market
—/ South Korea: A key hydrogen fuel cell market + South Korea benefits from progressive regulation and incentives that encourage the deployment of hydrogen and fuel cell technology, targeting 16GW deployment by 2040 + 375MW of installed fuel cell power plants in South Korea accounted for 35% of glob
Slide 8: Fuel cells - Korea's New Growth Industry
_/ Fuel cells - Korea’s New Growth Industry * Renewable Portfolio Standard (RPS) System - Public utilities and IPPs, must source at least 7% of total power production from new/renewable sources in 2020, a figure which rises by 1% each year up to 10% in 2023 ~ Fuel cell installations incentivised by
Slide 9: Future scaling of the business
—/’ Future scaling of the business Target global manufacturing partners Moving into higher power systems and to supply cells and stacks to system broadening applications in each region OEMs in regions of greatest demand (through system licensees) 0-5kW e 5-20kwW e —= e 20-200Kw i i J 200- 1000kW. IM
Slide 10: Summary
—/ Summary A strategic deal worth up to £43 million to Ceres over the next three years Key manufacturing partner in world’s largest market for stationary power fuel cells Doosan plans to build a manufacturing facility in Korea with an initial |OMW capacity anticipated by 2024, in collaboration with
Slide 11: ©
©
Slide 12: Thank you
THANK YOU INVESTOR RELATIONS TEAM: investors@cerespower.com _info@cerespower.com Ceres Power, Viking House © Ceres Power Ltd 2020
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