Ceres Power Holdings Plc · LSE:CWR
Ceres Power — Merger or Acquisition (February 2022)
9 slides from Ceres Power's merger presentation, Feb 9, 2022
Slide 1: Weichai, Bosch and Ceres: Collaboration for Clean Energy
ce2res Weichai, Bosch and Ceres COLLABORATION FOR CLEAN ENERGY 9th February 2022 CLEAN ENERGY STARTS WITH CERES =
Slide 2: Strategic collaboration for the Chinese market
_TS strategic collaboration for the Chinese market + Heads of Terms signed for Weichai, Bosch and Ceres collaboration in China + Addition of Bosch, and increased scope to include stationary power applications, significantly strengthens the planned JV for the Chinese market + Intent that two separate
Slide 3: System JV for SOFC systems
_S system JV for SOFC systems + Weichai majority shareholder of a three-way JV to develop and manufacture SOFC systems for stationary and mobile applications in China Bosch - Bosch and Ceres to licence respective SOFC 40kW system system IP to the JV and share royalties from the sale of products . .
Slide 4: Stack JV with Bosch as majority shareholder
_/ stack JV with Bosch as majority shareholder + Bosch and Weichai intend to form the Stack JV in Shandong Province in China, with Bosch as the majority shareholder + Would be second manufacturing facility for Bosch, following planned 20O0MW facility in Germany expected in 2024 * Ceres will provide
Slide 5: Strong collaboration for China
Strong collaboration for China + China accounts for 30% of global emissions, CHINA AIMING FOR PEAK but it also represents a key part of how we EMISSIONS IN 2030 AND FOR get to net zero - with a strong track record CARBON NEUTRALITY BY 2060. j ialisi i 1474 FIVE YEAR PEAN INCLUDES EV of industrialisi
Slide 6: Financial implications for Ceres
_/ Financial implications for Ceres - License fees of £30 million from the System JV and Stack JV to Ceres are expected over the coming three years, in line with those agreed in the original Weichai-Ceres agreement in 2018 + Ceres will hold a maximum 10% share in the System JV, investing around £20
Slide 7: Growing visibility of future royalty revenue
_/ Growing visibility of future royalty revenue ! Mass market pp ------------ ' launch, China 2024: SOFC mass market C2 ee ee ee ee ne ee ee eee nee 1 A_\ I 2020: SOFC iaunch || @BOSCH | HYDROGEN Partners | WEICHAL | | scaling up ! } i Royalties ! towards mass ! ' market launch } Licence fees, engin
Slide 8: Summary
_S summary - Deal opens up significant China market opportunity to Ceres’ technology — in stationary and mobile applications — through two significant partners - Astrategic deal worth up to £30 million to Ceres over the next three years and long-term recurring annual royalties anticipated after star
Slide 9: Investor Relations Team
INVESTOR RELATIONS TEAM: investors@cerespower.com f f 44 (0)1403 273463 _info@cerespower.com Ceres Power, Viking House Hor: ‘oundry Lane PX UK
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