Exro Technologies, Inc. · OTC:EXROF
Exro Technologies — Investor Presentation (May 2023)
38 slides from Exro Technologies's investor presentation, May 2023
Slide 1: Driving the Energy Transition with Intelligent Electrification
Driving the Energy Transition with Intelligent Electrification Corporate Presentation Q2 2023 ew OPTIMIZING POWER
Slide 2: Disclosures
Disclosures This presentation contains forward-looking statements within the meaning of Canadian securities laws. These statements relate to future events or future performance and reflect management's expectations regarding the Company's growth, results of operations, performance and business prosp
Slide 3: Exro Overview
Exro Overview Visibility into the company and why it matters
Slide 4: Our technology is the next generation of control for motors and batteries
Our technology is the next generation of control for motors and batteries
Slide 5: What We Do
What We Do Deliver next generation power control technology that expands the capabilities of electric motors and batteries enabling e-mobility and energy storage applications to deliver more with less “MINIMUM ENERGY — MAXIMUM RESULTS” Proprietary technologies: Software and electronics R&D, Coil Dri
Slide 6: Investment Highlights
Investment Highlights Accelerating the transition to clean energy by solving the most challenging problems in electrification ra Z u a » ¢£ | Innovative drive solutions that Scalable inverter technology co- Macro sustainability tailwinds | address major e-transition developed with diverse industry d
Slide 7: Capital Structure
Capital Structure Clean structure provides strong foundation for growth Public company in US & Canada Basic shares outstanding 151,791,177 Stock options outstanding 9,718,126 Warrants outstanding 17,073,322 Fully-diluted shares 178,582,625 outstanding TSX: EXRO OTCQB: EXROF NASDAQ ready Capitalizati
Slide 8: Our Core Technology
Our Core Technology The Exro ecosystem
Slide 9: Building an Ecosystem for Electrification
& Building an Eco-Systé trification End-to-End Electrification Solutions a Battery contt™ Exro Energ¥ ry ora
Slide 10: Our Core Technology
Our Core Technology Bridging the electrification gap with power electronics expertise MOTOR CONTROL Exro Coil Driver™ brings electric gearing to EVs by enabling multiple speed-torque combinations in a single motor with Coil Switching technology ~> Enable greater flexibility for optimizing powertrain
Slide 11: Realizing our Market Potential through Products that Demonstrate our Technology
Realizing our Market Potential through Products that Demonstrate our Technology _- Me Pi fa ° : ee - = . “el a My ~~ & ‘e bi) Be ill = uel
Slide 12: Exro Motor Control Solution
Exro Motor Control Solution The World's First Intelligent Coil-Switching Drive Product Validation and Awards Exro Coil Driver™ Unique coil-switching technology optimizes the performance and efficiency of powertrains and other systems including electric motors and batteries — De-risked technology tha
Slide 13: Inverters are the heart of electric vehicles
Inverters are the heart of electric vehicles, providing the link between the battery and the electric motor Advances in inverter technology have ALL been component related (IGBT- SiC), sharing the same core 3-phase architecture that limits what can be achieved with a fixed winding on an electric mot
Slide 14: How it Works
How it Works Coil Driver™: Not a standard 3 phase inverter TRADITIONAL TORQUE CHARTS Th series mode [Perse ode g 3 5 i Motor Torque (tm) ‘Motor Speed (RPM) Motor Speed (RPM) Traditional OEMs needed to make a choice ~ This patented technology enables 2 separate torque profiles within a single motor >
Slide 15: Exro Coil Driver
° . ™ Exro Coil Driver Unleashing underutilized potential in electric motors In Q2/23 independent test lab UTAC completed full power and efficiency mapping of the Exro’s 800V motor drive system for heavy-duty EVs versus the top 3-phase inverters on the market (*All use SiC components for direct comp
Slide 16: Exro Coil Driver: Range gains up to 15%
Exro Coil Driver™ Dramatically increases efficiency at high-speed; Range gains up to 15% Consider variable torque at 6,000 RPM, representing cruising on the highway at a fixed vehicle speed as load changes. (hills/wind/etc) — Third party testing shows that 5-15% increase in highway range can be expe
Slide 17: Coil Driver Supports AC Fast Charging and V2X Capabilities
Coil Driver™ Supports AC Fast Charging and V2X Capabilities Unlocks attractive fleet electrification economics TRADITIONAL DCFC CHARGING NEW INNOVATIVE AC FAST CHARGING Powertrain Cost AC Charger DC Charger Baseline EV with Coil Driver™ Cost Cost Powertrain Cost 90% cost reduction t j $30-$50K $3-5K
Slide 18: Why it Matters
Why it Matters Significant Value Proposition for E-Mobility Market v Increase performance by up to 50% with minimal system cost increase Speed Torque Power Performance *Potential based on similar application in HD-UDDS drive cycle Algorithm performs real-time optimization intent of this presentation
Slide 19: De-risked Technology
De-risked Technology Technology Readiness Level (TRL) of Coil Driver approaching 9 Actual system proven in operational environment = z ES System complete and qualified 3 a System prototype demonstration in operational environment ¢ Technology demonstrated in relevant environment G f= iy Technology v
Slide 20: De-Risked Product Development
De-Risked Product Development Functional demonstration vehicles plus pilots in vehicles on three continents Simulation * Product Testing * On-Road Validation Vehicle demonstrators provide insight into how these EVs can outperform their equivalents, simply by adding Exro technology inside 20
Slide 21: Driven by Disciplined Innovation
Driven by Disciplined Innovation Minimum energy for maximum results What we have done — Enhanced performance at high speed, better start ability and gradeability at low speed. > Improved operational efficiency & extended range. — Motor and energy supply agnostic, adaptable across mobility applicatio
Slide 22: Exro Energy Storage Solutions
Exro Energy Storage Solutions Safer, more efficient battery energy storage systems focused on C&l applications Exro Cell Driver™ (QOkW/192kWh) — Industries first bottoms-up designed system with a focus on performance, safety, and reliability. — Integrated battery and power electronics platform that
Slide 23: Exro's Technology Advantages
Exro’s Technology Advantages CELL LEVEL CONTROL — Enhanced safety with individual cell monitoring. > Full cell control with ability to adjust current per cell. > Increased depth of discharge. — Negate cell balancing circuits and traditional BMS. — Dynamically isolate defect cells or modules while op
Slide 24: The Exro Benefit
The Exro Benefit Differentiated technology for a multi-billion-dollar industry The Exro Cell Driver™ is a fully integrated energy storage system for commercial and industrial applications. Incorporating the Cell Driver™ into a charging depot energy system has the following benefits: — Reduce electri
Slide 25: Powertrain Optimization
Powertrain Optimization Exro Vehicle Systems (EVS), Ann Arbor, MI — EVS provides critical electric vehicle integration support and provides a platform to onboard clients early in the design. —» Supporting leading tier-1 automotive suppliers to provide engineering design and consulting services. Capa
Slide 26: Outlook
Outlook Market Strategy | Our Capabilities | Our People
Slide 27: Large TAM Opportunity Supported by Secular Tailwinds
Large TAM Opportunity Supported by Secular Tailwinds Exro’s Coil Driver™ and Cell Driver™ are positioned to capture rapidly expanding use case markets Coil Driver™ ~US$133B crm Eee) Cell Driver™ ~US$224B Movie (By [ ; US$224B nov |. fp) 2023-2030 2030 TAM CAGR: 10% US$357B+ ~US$133B 2023-2030 Passen
Slide 28: A Systematic Go-to-Market Strategy
A Systematic Go-to-Market Strategy Roadmap to capitalize on a rapidly growing and changing electrification ecosystem & fe Attack market in waves: build on Expand technology offering Gontintelaticcasstulitrac le momentum with key ecosystem through core products mreeral Gf innervation players partners
Slide 29: Building Credibility Through Commercial Execution
Building Credibility Through Commercial Execution Demonstrating our innovation through increasingly strong partnerships LOW VOLTAGE NDA Europe (off-highway) © HIGH VOLTAGE STRATEGIC WOLONG CELL DRIVER 14 aa \nfernoSolar NDA Europe #2 (truck/bus) * PO's and MSA’s with just 3 customers announced to da
Slide 30: Start of Production Q3 2023
Start of Production Q3 2023 World-Class Manufacturing Center in Calgary, AB Clean room setup May 2022 3 North American Supply Chain Solution — Capacity of ~100,000 Coil Drivers™/year/8 hr shift. — Class 10,000 clean room with SMT line(s). — Net-Zero targeted building. — Launch of commercial producti
Slide 31: Next Two Quarters Roadmap
Next Two Quarters Roadmap — Samples to customers — Low Voltage AO20 — Complete system testing on final DFM High Voltage LO40 with Motors — Complete demo trucks for on road validations — Complete UL Certification on Cell Driver — Durability testing on Products ~» Start of production on Cell Driver wi
Slide 32: Comprehensive Intellectual Property Protection Program
Comprehensive Intellectual Property Protection Program Exro’s patented control technology expands the capabilities of electric motors and batteries ie) PATENTS PUBLISHED AND PENDING — 25 issued patents and 15 pending applications > IP wholly owned in 13 patent families providing or seeking global pr
Slide 33: Managing Risks Through Well Defined Supply Chain Program
Managing Risks Through Well Defined Supply Chain Program 10+ Years of Relationship with Leading Suppliers — Commitment to long-term partnerships with quality suppliers, which includes global Tier 1 OEMs. ~ Development partners lead to long-term partnerships with suppliers. Strong Demand Plan — Produ
Slide 34: Environmental, Social, Governance
Environmental, Social, Governance Committed to the highest standards ENVIRONMENTAL Environmental matters are at the core of Exro’s operations and are embedded across the organization's activities — World class targeting net-zero automated manufacturing facility in Calgary, AB. — Optimized energy eff
Slide 35: Management
Management Strong team in place to see Exro through accelerated growth John Meekison Chief Financial Officer Sue Ozdemir Chief Executive Officer + 20+ Years Experience as CFO in Capital and Small Cap Markets. + Previous Capital Experience - Haywood Securities ~ Former CEO of GE's Small Industrial Mo
Slide 36: Board of Directors
Board of Directors Extensive automotive industry experience & connections Rod Copes Interim Chairman Vo > Former Chief Operating Officer at Rivian electric vehicles; Former division President at Harley- Davidson > 30+ years automotive executive Jill Bodkin Director > Former Director at Westport (NAS
Slide 37: Why We Win
Why We Win ENGINEERING & DESIGN > Best in class engineering + Unique intellectual property + Increasing performance and reducing cost TECHNOLOGY + Industry disruptive technology > Efficient but dynamic — Award winning IN-HOUSE TESTING & MANUFACTURING —> Unique north American world-class manufacturin
Slide 38: Thank you
Thank you Sue Ozdemir Chief Executive Officer John Meekison Chief Financial Officer Darrell Bishop Chief Investment Officer 12-21 Highfield Circle SE Calgary, AB, T2G 5N6 Canada 7853 E Ray Rd, Mesa, AZ 85212, USA www.exro.com @exrotech inf ¥ @ Questions? [email protected] OPTIMIZING POWER