Lilium N.v. · OTC:LILMF
Lilium — Investor Presentation (September 2024)
40 slides from Lilium's investor presentation, September 2024
Slide 1: Revolutionizing sustainable, high-speed regional air mobility
Revolutionizing sustainable, high-speed regional air mobility September 2024
Slide 2: Legal Disclaimer
Legal Disclaimer No Representations or Warranties No representations or warranties, express or implied, are given in, or in respect of, this presentation or any accompanying oral presentation (collectively, this “presentation”). This presentation does not purport to be comprehensive or all-inclusive
Slide 3: Legal Disclaimer: Forward-Looking Statements and Risk Factors
Legal Disclaimer Forward-Looking Statements and Risk Factors This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding the Lilium Group’s proposed business and business model, the markets and i
Slide 4: Lilium and its Market
01 Lilium and its Market
Slide 5: Lilium is developing sustainable, high-speed regional air mobility
Lilium is developing sustainable, … to solve the challenges convenient, and accessible high-speed of transportation regional air mobility – Tackle congestion, pollution, and noise with a new type of vehicle, specifically designed for Short-term regional air mobility Mission – Enabled through expecte
Slide 6: The Lilium Jet – A unique design for superior performance and comfort
The Lilium Jet – A unique design for superior performance and comfort High-speed Largest eVTOL cabin with up to Operating range1,2 Commercial airliner Competitive Price4 safety level3 250 km/h 6 passengers 175 km $2/km (~155 MPH) (~110 MI) 10-9 per pax Source Lilium Business Plan Simulation, forward
Slide 7: Unparalleled team of experienced aerospace professionals
Unparalleled team of experienced aerospace professionals to successfully build and deliver the Lilium Jet BOARD ENGINEERING, PROGRAM, AND MANUFACTURING FINANCE AND COMMERCIALIZATION Tom Enders Klaus Roewe Daniel Wiegand Stephen Vellacott Yves Yemsi Johan Malmqvist Sebastien Borel Chairman & Investor
Slide 8: Focused OEM and Aftersales business model
Focused OEM and Aftersales business model OEM business model advantages – Fast time-to-market as organization can fully focus on aircraft development, Core certification, production, and delivery Competencies – Cash generated through Pre-Delivery- Payments and aircraft sales Aircraft OEM Aftersales
Slide 9: Building an IP protected business with high returns on capital
Building an IP protected business with high returns on capital SHORT TERM: SCALE REVENUES AND START LONG TERM: GROW LILIUM TO GLOBAL GENERATING POSITIVE CASHFLOW ELECTRIC AVIATION CHAMPION – Scale aircraft sales revenues by delivering on large orderbook – Scale recurring aftermarket revenues – servi
Slide 10: Advanced air mobility market projected to be significant
Advanced air mobility market projected to be significant – Lilium’s focus on regional use cases expected to materialize early External Sources Global eVTOL TAM by geography Global eVTOL TAM by use cases # of eVTOL in service (in 1,000 a/c) Forecast of ~42,000 cumulative eVTOL deliveries by 20351 eVT
Slide 11: Substantial time savings for short-distance and regional trips
Substantial time savings for short-distance and regional trips United States Germany China (selected illustrative routes) (selected illustrative routes) (selected illustrative routes) 3 Source: Lilium, Route maps for illustrative purposes only; Notes: 1. Lilium flight time calculated with average sp
Slide 12: Lilium's Jet design: best suited eVTOL configuration for regional mission
Schematic view only Lilium’s Jet design: best suited eVTOL configuration for regional mission The Lilium Jet: Majority of eVTOL competitors: Technolgy Ducted fan aircraft Rotor-driven aircraft1 Tilt Rotor design1 Cruise (horizontal thrust Vectored Duct mode) (tilt wing) Rotor blades Hover (vertical
Slide 13: Technology: Batteries and Propulsion
02 Technology: Batteries and Propulsion
Slide 14: Lilium's unique architecture offers a scalable aircraft platform
Lilium’s unique architecture offers a scalable aircraft platform Propulsion’s advantages: − Ducted Electric Vectored Thrust Propulsion Units (DEVT) means simpler and 30 ELECTRIC fan engines mounted lower maintenance frequency in 16 Propulsion Units (Flaps) − One engine moving part only − No cooling
Slide 15: Batteries offer highest overall efficiency
Batteries offer highest overall efficiency – any flight that can be done using batteries will be done using batteries Batteries E-Hydrogen E-Fuels (SAF) Kerosene (today) Primary Energy Efficiency1 73% 22% 13% 50% Electricity Price2 ~ $0.36 / kWh Cost / kWh shaft power ~ $0.5 / kWh3 ~ $1.7 / kWh3 ~ $
Slide 16: Progress on Lilium's Battery System
Progress on Lilium’s Battery System Cell Technology Industrialization Testing & Certification externally validated progressing well on track Lithium-ion cell with Silicon enhanced Progressing in battery cell Multiple successful test campaigns on content – offers high energy- and power industrializat
Slide 17: High cruise efficiency positioned to yield significant range improvements
Lilium’s high cruise efficiency is positioned to yield significant range improvements as batteries improve 2025E 2030E ESTIMATED OPERATIONAL RANGE ~175 km ~275 km (km) ENERGY DENSITY (Wh/kg) ~330 Wh/kg ~500 Wh/kg 2030E Vertical Take-off Transitions 2025E Cruise Phase Vertical Landing Reserve Do Not
Slide 18: Technology and capabilities enable a portfolio of electric aircraft
Lilium’s technology and capabilities enable a portfolio of electric aircraft Assuming a +4.5% energy density improvement per year for battery cells eCTOL (electric conventional take-off and landing) • Technology enables larger regional electric aircraft with runway take-off Enabling capabilities and
Slide 19: Commercialization
03 Commercialization
Slide 20: Focus on premium segment for launch and on mass segment to scale
Focus on premium segment for launch and on mass segment to scale LAUNCH IN PREMIUM MARKET SCALING IN MASS MARKET Aim to sell aircraft and aftersales services to HNWI and Aim to sell aircraft and aftersales services to PREMIUM SALES FLEET SALES charter and fractional ownership companies commercial ai
Slide 21: Versatile cabin to deliver a premium experience and serve the mass market
Versatile cabin to deliver a premium experience and serve the mass market LAUNCH IN PREMIUM MARKET SCALING IN MASS MARKET Spacious cabin with 4 seats for maximum comfort Capacity to carry 6 passengers Panoramic windows Larger seat pitch vs. average economy seat 420 liters of storage area/ 90 kg of l
Slide 22: Scalable Platform – Maximize Long-Term Value
Scalable Platform – Maximize Long-Term Value CARGO EMS < Long cabin with customizable interior CONFIDENTIAL P. 22
Slide 23: 106 firm orders and reservations, 76 options, and ~600 aircraft under MoU
106 firm orders and reservations, 76 options, and ~600 aircraft under MoU firm purchase orders LUFTHANSA GROUP Source: Company information and public press releases. Final commercial terms of MoU agreements are still being negotiated and remain subject to definitive documentation. Firm orders consis
Slide 24: Lilium Aftersales Organization
Lilium Aftersales Organization ENERGIZE YOUR OPERATIONS – Lilium Jets to be backed by Lilium POWER-ON’s service and support commitment – POWER-ON portfolio provides a wide range of options and personalized support – Packages cover all the core services customers need with tailored packages for speci
Slide 25: Leveraging strategic partnerships to build an infrastructure eco-system
Leveraging strategic partnerships to build an infrastructure eco-system INFRASTRUCTURE AIRCRAFT OPERATIONS 1 1 – Landing & take-off areas – Fast-charging stations – Pilot Training – Airspace Integration – Passenger facilities – Advanced chargers (CCS) – Material service partners – Data – Maintenance
Slide 26: Develop, Industrialize, And Certify
04 Develop, Industrialize, And Certify
Slide 27: Lilium receives Design Organization Approval by EASA
Lilium receives Design Organization Approval by EASA Lilium is the only eVTOL manufacturer globally authorized to design and build under the SC-VTOL standard Completes multiple-year rigorous EASA audit process covering entire breadth of Lilium’s design & certification activities across Lilium’s engi
Slide 28: Production of first Lilium Jets underway
Production of first Lilium Jets underway – Start of production of the first Lilium Jet in December 2023; fuselage, wings, and canards of second aircraft assembled – Production supported by a team of world-class tier 1 suppliers – Aircraft assembly at Lilium’s facilities in Munich, Germany, with firs
Slide 29: World Class Tier 1 aerospace suppliers
World Class Tier 1 aerospace suppliers ensuring quality, reliability & ramp-up Avionics and flight Aerostructures Cells for batteries Interior, interior lights Engine rotor blades Seats Inceptor system Aerostructures Tires control computer and floor and engine shaft Standby flight Landing gear, Ener
Slide 30: State-of-the-art aircraft development tools and facilities
Lilium utilizes state-of-the-art aircraft development tools and facilities Selected tools (only subset of all available tools): Digital Mock-Up Electrical Pow er System Lab Wind Tunnel Model – Complete digital representation – Capability to set up entire electrical – Rapid design optimization throug
Slide 31: Flight tests validate architecture & support certification
Flight tests validate architecture & support certification – Flight testing with two demonstrator aircraft is taking place in Spain – Flight testing envelope continuously expanded over the past 5 years – All relevant flight-testing conditions have been successfully tested (e.g., transition, High-Spe
Slide 32: Ongoing assembly of test aircraft
Ongoing assembly of test aircraft 1 & 2 – Start of production of test aircraft 3 − Aircraft assembly takes place at Lilium’s facilities in Gauting, Germany − First 7 aircraft are “type conforming” and will be used for flight test campaign for Type Certification of the Lilium Jet with EASA Fuselage,
Slide 33: EASA Certification enables broad market access
EASA Certification enables broad market access • Probability of catastrophic failure: 10-9 • Core geography: Europe • Following countries: Morocco, Turkey, … – Certification with EASA to highest safety standard (10-9) 10-9 expected to enable quick expansion into markets with initial lower safety sta
Slide 34: First eVTOL manufacturer with both EASA and FAA certification basis
Lilium 1st (and so far, only) eVTOL manufacturer with both an EASA and FAA certification basis for eVTOL aircraft LILIUM 100% SUBMITTED Certification Basis Which requirements will EASA 100% AGREED: EASA Certification Basis issued in 2020 apply for the Lilium Jet? FAA 100% ISSUED: FAA Certification B
Slide 35: Continued progress toward first flight and entry into service
Continued progress toward first flight and entry into service 2015 - 2020 2021 2022 2023 2024 - 2026 First aircraft on Developed 4 generations Test campaign Historic Signed binding ✓ Final Assembly Line Execute flight test program for of test aircraft with 5th gen. transition flight ✓ agreements cer
Slide 36: Investment Opportunity
Investment 04 Opportunity
Slide 37: We are pursuing additional non-dilutive funding
We are pursuing additional non-dilutive funding German gov. support French gov. support Pre-Delivery Payments (PDP) − Expected €100m convertible loan − Expected 80% state guarantee − 100+ firm orders and reservations for a €200m+ loan secured − KfW Due Diligence finalized in July − In exchange for L
Slide 38: Lilium's shareholder overview
Lilium’s shareholder overview Overview on major Lilium’s shareholders – Strong and supportive anchor investors including e.g. early investors of Tesla and Amazon – Diversified investor base incl. suppliers (Honeywell, Palantir) & infrastructure partners (Ferrovial) – Founders still invested and invo
Slide 39: Lilium is undervalued compared to competitors
Lilium is undervalued compared to competitors Market capitalization, USD millions (August 16, 2024) $3,688m Peer 1 ~8x $1,365m Peer 2 ~3x $757m Peer 3 Lilium: among lowest valued eVTOL $479m company, due to perceived cash runway to certification $186m Peer 4 Source: Lilium; Company public informatio
Slide 40: We believe Lilium is poised for outstanding growth and upside
We believe Lilium is poised for outstanding growth and upside PROPRIETARY TECHNOLOGY & SEASONED AVIATION LARGE ADDRESSABLE MARKET EXECUTIVE TEAM Decarbonizing aviation is a multi-billion dollar opportunity Highly experienced team that has designed, certified, manufactured and delivered major aviatio