Palladyne Ai Corp. · NASDAQ:PDYN

Palladyne Ai — Q2 2023 Earnings Presentation

25 slides from Palladyne Ai's earnings presentation, Aug 9, 2023

  1. Slide 1: Investor Presentation

    INVESTOR PRESENTATION NASDAQ: STRC July 12, 2023

  2. Slide 2: Legal Disclaimer

    DISCLAIMER LEGAL DISCLAIMER This presentation and any related oral statements contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements regarding Sarcos’ future operating results, financial position, liquid

  3. Slide 3: About Sarcos

    ABOUT SARCOS DEVELOPER AND PROVIDER OF DEXTEROUS ROBOTIC SYSTEMS DESIGNED TO MASTER DANGEROUS AND UNSTRUCTURED ENVIRONMENTS. Extensive R&D Large Target Markets $375+ million and 30+ years invested Aviation, Solar Energy, Subsea Deep IP Portfolio Technical Expertise 325 technology patents issued Nume

  4. Slide 4: The Sarcos Mission

    THE SARCOS MISSION Prevent injury and increase worker productivity and longevity through robotics Addressing Sarcos Technology and Robotics Corporation designs, develops, and deploys a broad range of • Labor Shortages advanced mobile robotic systems. • Aging Workforces Able to operate in challenging

  5. Slide 5: Optimization Highlights

    OPTIMIZATION HIGHLIGHTS IMPROVED EFFICIENCY, REDUCED CASH SPEND • Aligning workforce with targeted robotics solutions and end markets; eliminating non-essential positions • Focusing on targeted robotics solutions for the aviation, solar and subsea end markets • Forming new Advanced Technologies soft

  6. Slide 6: Optimized Leadership Team

    OPTIMIZED LEADERSHIP TEAM Laura Peterson Jim “Hondo” Geurts Lisa Johnson Interim President, CEO & Director Executive Vice Chairman VP, Supply Chain and Quality VP, The Boeing Company US Navy, USSOCOM, US Air Force Boeing Supply Chain Executive Drew Hamer Dr. Denis Garagić Steve Sonne Chief Financial

  7. Slide 7: Key Investment Rationale

    KEY INVESTMENT RATIONALE IMPROVED EFFICIENCY, REDUCED CASH SPEND • Focused business plan concentrating on solutions that address many use cases across numerous huge end markets including aviation, solar, subsea, and software • New Advanced Technologies software division expected to drive emerging Sa

  8. Slide 8: $450 Billion Global Target Expected Market in 2029

    $450 BILLION GLOBAL TARGET EXPECTED MARKET IN 2029 1 SCALE & EFFICIENCY TRANSCEND INDUSTRIES & APPLICATIONS LARGE GLOBAL ADDRESSABLE MARKET END MARKETS & APPLICATIONS • Solar field installation POWER & • Powerline and transformer maintenance UTILITIES $450B • Infrastructure inspection Total AEROSPAC

  9. Slide 9: Environmental, Social, Governance

    ENVIRONMENTAL, SOCIAL, GOVERNANCE SARCOS IS A NATURAL FIT WITH ESG PRINCIPLES Environmental • Enabling a speedier transition to solar energy • Robotic systems are all electric Social • Robotic technology eliminates the need to put workers in many dangerous situations • Upskill workers from manual la

  10. Slide 10: Our Solutions

    2) =z o - > 20 OUR SOL

  11. Slide 11: Prioritized Solutions

    PRIORITIZED SOLUTIONS Guardian Sea Class Aviation – Baggage & Service Our fully integrated Guardian® Sea Class with the VideoRay® ROV Augment the workforce in a wide range of applications, including heavy cargo/luggage (Remotely Operated Vehicle) handling, deicing, at-height inspections, repairs, re

  12. Slide 12: Guardian Sea Class

    GUARDIAN ® SEA CLASS GROWING MARKET OPPORTUNITY FOR UNDERWATER ROBOTIC SOLUTIONS UNDERWATER ROBOTICS ($B)1 $8.04 CAGR 12.8% $4.87 $3.37 2022 2025 2029 (Source: Data Bridge Market Research) MARKET TRACTION DRIVERS UNDERWATER ROBOTICS MARKET SAM5 Fully integrated with VideoRay® Defender ROV (Remotely

  13. Slide 13: Aviation

    AVIATION SEMI-AUTONOMOUS AIRCRAFT SERVICING (CARGO DOOR, BAGGAGE, WATER) AVIATION GROUND SERVICES ($B) CAGR 10.32% $69 $46 $35 2022 2025 2029 (Source: Fortune Business Insights) AIRCRAFT MAINTENANCE & GROUND MARKET TRACTION DRIVERS SERVICE ROBOTICS MARKET SAM1 Developing airport automation solutions

  14. Slide 14: Solar Energy

    SOLAR ENERGY SIGNIFICANT AND GROWING MARKET OPPORTUNITY SOLAR ENERGY ($B) CAGR 6.9% $374 $287 $235 2022 2025 2029 (Source: IEA, SEIA, Fortune Business Insights) MARKET TRACTION DRIVERS SOLAR MODULE INSTALLATION ROBOTICS MARKET SAM1 Secured $2.5M program with Department of Energy Solar was 39% of new

  15. Slide 15: Planned Sarcos Software as a Service Opportunity

    PLANNED SARCOS SOFTWARE AS A SERVICE OPPORTUNITY 1 Options4 Service Supervised Autonomy Intelligent Teleoperation Task Libraries Simulations/Mixed Reality Fleet Management/ Digital Twin SaaS App/ Implementation & Control Remote Monitoring (1x Service Fee) (App fee varies) (App fee varies) (1x Servic

  16. Slide 16: Task Complexity & Variability

    FLEXIBILITY FOR DYNAMIC INDUSTRIAL ENVIRONMENTS SARCOS IS STRONGLY POSITIONED TO ADDRESS COMPLEX & HIGHLY VARIABLE 4 TASK COMPLEXITY & VARIABILITY 5 5 5 2 1 5 2 5 5 2 3 6 3 6 6 3 6 6 SIMPLE & REPEATABLE STRUCTURED ENVIRONMENT UNSTRUCTURED 16 SARCOS PROPRIETARY 1. Solar market only 3. Construction ma

  17. Slide 17: Financials

    FINANCIALS

  18. Slide 18: Optimization Financial Highlights

    OPTIMIZATION FINANCIAL HIGHLIGHTS REALIGNING COST STRUCTURE AND REDUCING CASH USE BY REORGANIZING WORKFORCE AND RATIONALIZING SPEND IN ALL AREAS OF THE BUSINESS • Workforce reduction of ~1/4 of the company's ~300 employees take place largely in mid-July 2023 and expected to save ~$14.1MM annually; o

  19. Slide 19: Key Investment Rationale

    KEY INVESTMENT RATIONALE IMPROVED EFFICIENCY, REDUCED CASH SPEND • Focused business plan concentrating on solutions that address many use cases across numerous huge end markets including aviation, solar, subsea, and software • New Advanced Technologies software division expected to drive emerging Sa

  20. Slide 20: Use this box if you have footnotes; otherwise delete

    www.sarcos.com linkedin.com/company/sarcos 888-927-7296 Use this box if you have footnotes; otherwise delete

  21. Slide 21: Appendix

    APPENDIX

  22. Slide 22: Sarcos Technology and Robotics Corporation Board of Directors

    SARCOS TECHNOLOGY AND ROBOTICS CORPORATION BOARD OF DIRECTORS Ben Wolff Brian Finn Laura Peterson Director, Co-Founder, Sarcos CEO (former), Credit Suisse VP (former), The Boeing Company Board of Directors: Globalstar Board of Directors: Scotts Miracle- Board of Directors: Air Transport Gro (former)

  23. Slide 23: Autonomous Port and Military Use Cases

    AUTONOMOUS PORT AND MILITARY USE CASES Expeditionary EOD Ship Inspection & Salvage Infrastructure • 300m or less Maintenance • Up to 2000m • Locks, dams, power plants • RIB deployed • Near surface • Hook & line • Intake inspection & debris - Launch & recovery from RIB • Launch & recover from ship re

  24. Slide 24: Aviation Use Cases

    AVIATION USE CASES De-icing Aircraft Surface Preparation Baggage Handling Ground Services • Gate Services • Removal • Bag Room • Under-Apron Services (corn starch blasting) - Semi-autonomously apply de-icing fluid - Semi-autonomous movement of bags - Use cases range from semi- to the aircraft while

  25. Slide 25: Solar Energy Use Case

    SOLAR ENERGY USE CASE ROBOTIC SOLAR MODULE INSTALLATION Autonomously pick and place Photovoltaic Panel (PV) modules delivery to installation on racking systems O-AMPP project: Which began in 2021 with funding support from the U.S. Department of Energy Solar Energy Technologies Office (SETO), aims to

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