TPG Pace Beneficial Finance Corp.
TPG Pace Beneficial Finance — SPAC Merger (January 2021)
40 slides from TPG Pace Beneficial Finance's SPAC merger presentation, Jan 14, 2021
Slide 1: EVBox Group Investor Presentation January 2021
Exhibit 99.1 EVBox Group Investor Presentation January 2021Exhibit 99.1 EVBox Group Investor Presentation January 2021
Slide 2: Important Information: Use of Projections
Important Information Use of Projections This presentation contains financial forecasts prepared by TPG Pace Beneficial Finance Corp. (“TPG Pace”) with respect to certain financial metrics of EV Charged B.V., a Dutch private limited liability company (besloten vennootschap met beperkte aansprakelijk
Slide 3: Important Information (Continued): Non-GAAP Financial Measures
Important Information (Continued) Use of Non-GAAP Financial Measures This presentation includes non-GAAP financial measures, including EBITDA and adjusted gross margin. EBITDA is calculated as Revenue less cost of goods sold, and operating expenses. Adjusted gross margin is calculated as gross profi
Slide 4: Important Information For Investors and Stockholders
Important Information (Continued) Important Information For Investors and Stockholders This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed business combination, Dutch
Slide 5: Transaction Summary
Transaction Summary Sponsored Public Listing NYSE: EVB NYSE: TPGY Transaction Overview • TPG Pace Group raised $350 million through the IPO of a special purpose acquisition company (“SPAC”), TPG Pace Beneficial Finance(“Pace Beneficial” or “TPGY”), in October 2020. Concurrent with the IPO, TPGY secu
Slide 6: Investment Highlights
Investment Highlights ▪ Leading provider of charging solutions with a proven track record of executing growth ▪ Founded in the Netherlands, the leading country in EV charging Market Leader With a Defensible ▪ 210,000 charge ports delivered to date, the most of any company Annual Revenue Moat ▪ Inter
Slide 7: EVBox Group at a Glance
EVBox Group at a Glance Organizational Structure European Market Leader 1 Leading European Market Share AC & DC Hardware Enterprise and Embedded Software Software Platform AC Public DC Public Charging Charging 25% 35% With 210,000 charge ports delivered over the past 10 years, EVBox has established
Slide 8: Integrated Charging Platform
Integrated Charging Platform Platform solutions allows for bundling of Charging Software, Hardware, and Services EVBox AC & DC Smart Everon Enterprise EVBox / Everon Charging Stations Charging Management Software Support & Services With end-to-end solutions, EVBox Group offers a platform-based appro
Slide 9: EVBox Group Products and Solutions
EVBox Group Products and Solutions CUSTOM CORPORATE & Branded Charging management White-label mobile app Professional services for FLEET SOLUTIONS API capabilities to integrate Charging Stations platform for business drivers training, site into parking, fleet, and • Utilities management, and energy
Slide 10: Platform Model Drives Substantial Recurring Revenue
Platform Model Drives Substantial Recurring Revenue Illustrative Example of Single Business Charging Station: Region: Europe Software Subscription: Yes Assurance Services: Yes Usage Fee: Yes Charge Ports: 2 Power Output: 22 kW 55-60% Charge Type: Level 2 AC Recurring revenue grows over time with the
Slide 11: Diversified Customer Base
Diversified Customer Base Fleets, Parking & Transport Charging Enablers & Distributors Workplace & Hospitality Fuel & Charging Service Providers Utilities & Municipalities Automotive EVBox Group is the charging solution partner of choice to a broad array of customers around the world TPG PACE BENEFI
Slide 12: EVBox is Poised to Capture the Inflection Point in EV Demand
EVBox is Poised to Capture the Inflection Point in EV Demand Investing for growth ▪ Streamlined manufacturing and assembly ▪ Partnership with top-tier manufacturers for AC products ▪ In-house facilities in Europe and Illinois for DC products ▪ 650+ employees globally ▪ 75+ hardware engineers ▪ 175+
Slide 13: The Shift to Electric Vehicles is Rapidly Accelerating
The Shift to Electric Vehicles is Rapidly Accelerating “Volkswagen says last generation of “UK set to ban sale of new petrol and “California to Ban Sales of New Gas- combustion engines to be launched diesel cars from 2030” Powered Cars Starting in 2035” in 2026” - December 2018 - November 2020 - Sep
Slide 14: Rapid Electric Vehicle Growth
Rapid Electric Vehicle Growth Annual European EV Sales Needed to Meet Total Expected Cumulative EV Sales EU’s ‘25-’30 CO2 Emission Reduction Targets 1 2 Thousands of Electric Vehicles Thousands of EVs Sold Per Year CAGR % 12,552 BEV+PHEV fleet need to achieve (20-25) proposed 60% CO2 reduction 14,82
Slide 15: European Policy Tailwinds
European Policy Tailwinds Electric Vehicle Car Incentives Electric Vehicle Charging Port Incentives 1 National BEV Incentives in Place European State EV Infrastructure Incentive Plans € ✓✓✓✓✓✓✓✓✓✓ 12,000 9,000 6,000 40% 5,687 50% €900 50% 5,000 5,000 5,000 4,000 4,000 3,384 cost cost subsidy for res
Slide 16: European EV Charging Ecosystem
European EV Charging Ecosystem EVBOX GROUP VALUE PROPOSITION Better access Clearing transactions Enabling businesses to for drivers between stakeholders monetize their sites E V D R I V E R R O A M I N G B U S I N E S S T R A N S A C T I O N C L E A R I N G C H A R G I N G S I T E O W N E R C H A R
Slide 17: Competitive Positioning
Competitive Positioning Complete CPO & MSP offering ✓✓✓✓ HW-agnostic software ✓ûûû Software White-label & Multi-tenant platform ûûû ✓ Smart Charging Capabilities ✓✓✓✓ Pan-European Billing Solution (Leasing) û✓û ✓ Complete AC lineup ✓✓✓✓ Fast charging (DC) lineup ✓✓û✓ Hardware Ultra-fast charging (HP
Slide 18: EVBox's European Leadership Position Enables Global Expansion
EVBox’s European Leadership Position Enables Global Expansion ▪ Europe is an extremely fragmented and Cumulative Charging Ports Delivered complex market with every European Nordics 10,000 Member State having country specific Primary hardware and software requirements 24 2 Languages Rest of Europe 20
Slide 19: North America Represents an Attractive Expansion Market
North America Represents an Attractive Expansion Market Charging stations Demand for open architecture Dedicated sales & Utility-driven rebates and specificially designed for the charging platform is rising in marketing and dedicated opportunities on state level; American market the US market, EVBox
Slide 20: EVBox Smart Charging Stations
EVBox Smart Charging Stations RESIDENTIAL (AC) COMMERCIAL (AC) FLEET / PUBLIC (DC) EVBox EVBox EVBox EVBox EVBox EVBox EVBox Elvi BusinessLine PublicLine Iqon Troniq 50 Troniq 100 Ultroniq Bus Fuel Highway / Workplace Retail and Commercial and Home Car fleets Commercial Depot Retail hospitality stre
Slide 21: EVBox Embedded Software Technology
EVBox Embedded Software Technology Regular Charging (AC) Platform Fast Charging (DC) Platform ▪ Our next-generation AC platform allows for car communication, vehicle-to-grid and ▪ Our next-generation DC modular platform significantly decreases maintenance and upgrade spend and improve ROI propositio
Slide 22: Everon Platform Approach
Everon Platform Approach 90% Platform-as-a-service API-first attachment rate 1 in 2020 Large businesses can self-serve Exposing reach set of public APIs; fully themselves in the platform – operate compliant with open-source protocols and manage multiple customers and including OCPP and OCPI – critic
Slide 23: Open Standards and Interoperability
Open Standards and Interoperability Commitment to Open Standards is a Core EVBox Tenet Sample Hardware Venders Compatible with Everon ▪ EVBox is committed to open standards for both hardware and software to ensure that we reach the broadest possible addressable market ▪ All EVBox hardware and softwa
Slide 24: Exponential Shipment Growth
Exponential Shipment Growth Cumulative EVBox Charge Ports Shipped ~210,000 ~7x Growth 111,478 71,101 50,021 39,081 28,516 2015 2016 2017 2018 2019 2020 TPG PACE BENEFICIAL FINANCE CORP. 24Exponential Shipment Growth Cumulative EVBox Charge Ports Shipped ~210,000 ~7x Growth 111,478 71,101 50,021 39,0
Slide 25: Potential for Robust Growth as Revenue Diversifies
Potential for Robust Growth as Revenue Diversifies EVBox Revenue Type EVBox Revenue Geography EVBox Charge Ports Shipped € Millions € Millions Annual in ‘000s Hardware Software & Services Europe North America ~430 € 372 € 372 65% CAGR ~275 74% 74% CAGR CAGR € 225 € 225 ~135 € 120 € 120 ~95 € 70 € 70
Slide 26: EVBox is Competitively Differentiated in the EV Services Market
EVBox is Competitively Differentiated in the EV Services Market Current geographic mix Primarily Europe Primarily North America Interoperable software ✓û White-label and multi-tenant platform ✓û Ultra-fast charging (HPC) capabilities – up to 350 kW ✓û 2021E Revenue $145MM (€120MM) $198MM Revenue gro
Slide 27: Key Takeaways
Key Takeaways Established Industry Leading Platform with Best in Market Hardware and Software Accelerating Growth Driven by EV Sales and EV Charging Infrastructure Expansion Attractive and Highly Scalable Business Model Expected Path to Large Base of Recurring Revenue Compelling Valuation Powerful C
Slide 28: Appendix
Appendix TPG PACE BENEFICIAL FINANCE CORP. 28Appendix TPG PACE BENEFICIAL FINANCE CORP. 28
Slide 29: FlashParking Case Study
FlashParking Case Study Integrated EV Charging Solution Connected with FlashParking Ecosystem 3-year agreement for an end-to-end charging solution, including: • Smart, regular and fast charging hardware, EVBox Iqon and EVBox Troniq, with the goal of rapidly equipping their network of parking facilit
Slide 30: Scania Case Study
Scania Case Study ENGIE & EVBox Group Joint-Approach Complete Charging Solution 4-year partnership agreement to accelerate the electrification of Scania’s buses and trucks • Reliable fast charging solution at the core of the demand, innovation and strong proven track record as key reasons for choice
Slide 31: The OEM Charging Solution Partner of Choice
The OEM Charging Solution Partner of Choice EVBox Group Automotive Partners ▪ Growing trend of global automotive OEMs offering a bundled internet-connected home charger with the purchase of Electric Vehicles – OEMs want to ensure they provide a quality home charging solution given its importance to
Slide 32: European Lease Car Market Enhances Demand
European Lease Car Market Enhances Demand Lease companies and suppliers of corporate car fleets, such as EVBox customers Arval and Alphabet, 1 account for ~55% of European demand today, many of which have their own CO2 reduction targets C O R P O R A T E E M P L O Y E E / E M P L O Y E E / E M P L O
Slide 33: Sources & Uses / Pro-Forma Valuation
Sources & Uses / Pro-Forma Valuation (1,3,4) Sources & Uses Post-Transaction Ownership Sponsor 7% Sources $MM €MM % PIPE Investors Engie Equity Rollover $607 €501 44% 16% (1) SPAC Cash in Trust $350 €289 25% Engie 44% Forward Purchase Agreements Cash Proceeds $100 €83 7% FPA Investors PIPE Issuance
Slide 34: Consolidated Financial Projections
Consolidated Financial Projections € in Millions 2020 2021 2022 2023 Total Revenue €70 €120 €225 €372 % YoY Growth 72% 87% 65% Gross Profit €17 €38 €82 €140 Gross Margin % 24% 32% 37% 38% (1) €118 €127 €138 Total Operating Expenses Adjusted EBITDA (€80) (€45) €2 EBITDA Margin % (66%) (20%) 1% (1,2)
Slide 35: Scalable Operating Model
Scalable Operating Model Subsequent % of Revenue FY2021E FY2023E Growth Phase YoY Revenue Growth 72% 65% 50%+ Total Expected Cumulative EV Sales 1 Millions of Electric Vehicles 51 Gross Profit 32% 38% ~45% 40 3.4x 32 Operating Expenses 98% 37% ~20% 13x 25 19 15 EBITDA (66%) 1% ~25% 11 3.7x 9 7 5 4 C
Slide 36: Historical Income Statement
Historical Income Statement (Derived from Dutch GAAP Financial Statements) Year Ended December 31, € in millions 2018 2019 Revenue €26.2 €60.1 Cost of Goods Sold 17.4 46.3 Gross Profit €8.8 €13.8 Gross Margin % 34% 23% Operating Expenses Personnel Expenses €15.8 €35.5 Depreciation and Amortization 3
Slide 37: Balance Sheet
Balance Sheet (Derived from Dutch GAAP Financial Statements) Year Ended December 31, € in millions 2018 2019 Assets Current Assets: Cash and cash equivalents €6.3 €44.7 Accounts receivable 8.0 28.3 Inventory 12.5 18.7 Prepaid expenses and other current assets 4.9 9.2 Total Current Assets €31.5 €100.
Slide 38: Summary Cash Flow Statement
Summary Cash Flow Statement (Derived from Dutch GAAP Financial Statements) Year Ended December 31, € in millions 2018 2019 Cash flows from operating activities Net loss (€17.1) (€38.8) Adjustments to reconcile net loss to net cash 3.3 8.4 Changes to operating assets and liabilities (6.6) (13.9) Net
Slide 39: Note on Historical Financial Statements
Note on Historical Financial Statements The historical financial numbers for EV Charged presented in this presentation, while audited under generally accepted accounting principles in the Netherlands (“Dutch GAAP”), are subject to revision based on the completion of a re-audit by an independent regi
Slide 40: Illustrative Fully Diluted Share Count
Illustrative Fully Diluted Share Count Illustrative Share Price Share count in millions $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 TPGY Public IPO Shares 35.0 35.0 35.0 35.0 35.0 35.0 35.0 35.0 35.0 (1, 2) TPGY Public Warrants – – 0.3 0.8 1.3 1.6 2.0 2.3 2.5 FPA Shares 11.0 11.0
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