Latch Inc · OTC:LTCH
Latch — SPAC Merger (January 2021)
42 slides from Latch's SPAC merger presentation, Jan 25, 2021
Slide 1: Latch
Exhibit 99.2 LATCH — && wwimanseoves
Slide 2: Disclaimer
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Slide 3: Disclaimer (cont)
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Slide 4: Latch - A Unique and Compelling Opportunity
Latch - A Unique and Luke Sehoenfelder Garth Mitchell TS novation Acqutions Corp. Robert Speyer Paul Galiano Jenny Wong Valuation 1S imoation cqutions Caps. pub ted epi purpos auton company win SDM mash nt ‘518 pro-ranacton equity ae wih strong btince sat. sara treo achive a postive st sutaning ‘now
Slide 5: Tishman Speyer - a Global Leader in Real Estate
Tishman Speyer - a Global Leader in Real Estate. Tran Speyer aleacing lobe estate
Slide 6: TSIA - Harnessing Technology in a Changing Real Estate Landscape
TSIA - Harnessing Technology in a Changing Real Estate Landscape. Sector Is Modernizing Rapidly Early Winners Gaining Momentum rvs ech ord wai Companies at an Inflection Point Ahan camer pt sn 8 No ene rte
Slide 7: Latch - A Perfect Match for TSIA
Latch - A Perfect Match for TSIA. Tishman Speyer is a long-time Latch customer and investor
Slide 8: Strategic Partnership With A Global Real Estate Platform To Support Growth
Strategic Partnership With A Global Real Estate Platform To Support Growth. Te propoted marge poi te Gouth ‘accelerate product and market crpantion and further Tishman Speyer a TSIAis excited to be a partner for Latch as it further scales into new markets and new asset classes.
Slide 9: Latch
LATCH
Slide 10: The Latch team has been dedicated to our mission since 2014
The Latch team has been dedicated to our mission since 2014. me @ 6 © @ @ == = Drrava ai — seer Sthoeneder Sones Moyonoer Basa Hussain Tns8ca Bloomberp bed Jmapbox Google éc G éB 3 Bee Ett a @ ‘ 2 a CAL CPM rane arth Orla David Peter . machen toeey asin Ws woo Heo @ech
Slide 11: Latch makes spaces better places to live, work, and visit
Latch makes spaces better places to live, work, and visit.
Slide 12: Building owners purchase LatchOS SaaS modules and compatible devices
Building owners purchase LatchOS SaaS modules and compatible devices that encompass the important ties at their building. ‘Smart Acc Lato’ smart aces storm nce complete rain, ta sd enaeton access manogarant win Laon Mans doves, Delivery & Guest Management Late capabites eqs ard dvr aces tari, Latch
Slide 13: This full-building enterprise SaaS platform, LatchOS, creates a unique foundation for growth
This full-building enterprise SaaS form, LatchOS, creates a unique foundation for growth. v v epiy wowna Hoty chy customer Long-trm prepaid Viity to sustained recuringentrpise relationship win fnteprae sofware Average Revenue per otware vere Scgowassns —reaensnnin Home nt resides recesomer —Swchigco
Slide 14: Robust Traction & Customers, Strong SaaS Business, Compelling Financial Metrics
Robust Traction & Customers Strong SaaS Business & Customer Engagement Compelling Financial Metrics Robust Traction & Customers Strong SaaS Business & Customer Engagement Compelling Financial Metrics
Slide 15: Latch's opportunity is supported by four pillars
Latch’s opportunity is supported by four pillars. 2 a 4 Latch is defining the full building operating system category Latch has compelling customer traction and unit economics. Latch has significant white space for rapid growth,
Slide 16: The market for an apartment building operating system is massive
11 Themarketforan apartment building operating system is massive. 47 million rental homes in the United States are available to be transformed with plenty of expansion opportunities ahead. Latch is currently only Seratching the surface with less than 1%® of multifamily market eaon 32m” ‘Matt-famiy A
Slide 17: The market for an apartment building operating system is massive
41 Themarket fran apartment buldng operating sytem f massive. Smart Access access ptm neste Laten M,C, RSetes uy: Deter & Guest Management - or, ae Son, o> ‘Smart Home & Sensor ~ $54 Bima Treostat laig. leak detect and ter sensor oer Seidel ntl owner and operators arsenic a ~$54Bar maroprer caries I
Slide 18: Latch is defining the full building operating system category
2 Latchisdefeing the ul being operating system catego. Latch’ 's full building all of North America. Latch products are installed in 35+ states", from affordable housing in Baltimore, to historic Dalngs in Maratian, oxy towers inthe Midwest
Slide 19: Customers choose their LatchOS modules and devices from the Latch ecosystem
2 Latchisdefeing the ul being operating system catego. Customers choose their LatchOS modules and devices from the Latch ecosystem. ‘To get started with Latch, building owners ble LtehO mcs fr ech ti apartments and then choose the devices that the (install as part of tet building Infrastructure. Lat
Slide 20: Latch's products enable it to be the trusted technology partner for modern buildings
2 Latchisdefeing the ul being operating system catego. Latch’s products enable it to be the trusted dern bui gs. technology partner for modern Traditional Vendors LATCH @: Base Building Resident Experience Per Devices work tttr together Laten05 seams regal
Slide 21: Benefits for building owners and operators
Premium experience and positioning Consolidation of manual systems Accelerated lease up Recurring rekeying expenses Decelerated turnover Lockout responses Increased Rent/amenity fee upside Resident onboarding/offboarding Ancillary monetization opportunities Delivery management Future-proof system Se
Slide 22: Latch has compelling customer traction and unit economics
‘8 Latch has compeling customer tration and unit economies, Building owners add all their residents to Latch, who become highly engaged Latch users. ‘The average resident interacts with our app 4.6x a day”. Unik
Slide 23: Latch has a diverse customer group
Latch has a diverse customer group ranging from the largest real estate (1) companies in the world to dedicated and passionate local owners. We're proud to enable some of the best apartment communities in the world. Latch has a diverse customer group ranging from the largest real estate (1) companie
Slide 24: Latch talks to customers early in the building process
‘8 Latch has compeling customer tration and unit economies, Latch talks to or renovation process, Cetiening ‘Latch as the technology ¢ consultant for the building. ‘customer, it also creates high revenue visibility i} r Sousa Lotsa, arene PO Catone pastor ones ‘sues Soar
Slide 25: Latch has never churned a customer
‘8 Latch has compeling customer tration and unit economies, Latch has never churned customer and continues to grow revenue with current customers. We've experienced zero customer churn! since launching in summer 2017, and our direct sales mode! 100% ‘Gross Revenue Retention 154% "Not Booked Revenue
Slide 26: Lifetime Value (LTV) and Customer Acquisition Cost (CAC)
Lifetime Value (LTV) Initial Term SW sticky. Revenues minus SW COGS (Avg. 6yr+) Customer Acquisition Cost (CAC) Sales & Marketing / Booked Unit Hardware Losses Lifetime Value (LTV) Initial Term SW sticky. Revenues minus SW COGS (Avg. 6yr+) Customer Acquisition Cost (CAC) Sales & Marketing / Booked U
Slide 27: Latch cash unit economics are positive on Day 1
‘8 Latch has compeling customer tration and unit economies, Latch cash unit economics are positive on Day 1. Upfront Unit Economics ‘current generation hardware) 87% of cur caster rep ha Ors ‘software contract value upfront on Day 1, 97% of customers, prepay ther ef software ‘This creates highly att
Slide 28: Rapid adoption of new products validates Latch's product expansion strategy
{2 Latch has compaling customer tration and unit economics Rapid adoption of new products validates Latch’s product expansion strategy. 44960 of our 4020 Booked Home Units were old with Intercom or Smart Home LatchOS. Home Unit (ARPHU) by ~30%® each. 30% I. a P8618 rreee Gaerne
Slide 29: Products & Services on our Home roadmap
Smart Access Smart Access, Smart Access, Intercom, Smart Intercom, Smart Home + Products & Services on our Home roadmap Smart Access Smart Access, Smart Access, Intercom, Smart Intercom, Smart Home + Products & Services on our Home roadmap
Slide 30: Latch has significant whitespace for rapid growth
4 Latoh has sgntant whitespace forrapid growth, Latch has aia Key growth drivers i North American rental home market. 1 Diving bookings with ching new LatchOS modules to Grow Homes new custom Expansion _dive additional recurring revenue. on LatchoS of ARPHU Platform 2 Expanding 9 customer portfolios
Slide 31: European expansion with TSIA
4 Latoh has sgntant whitespace forrapid growth, Beyond the North American core market, Latch has the opportunity to accelerate a European expansion with TS! nother 99M" apartments through an expansion nto European markets - representing ‘$9084 in annual TAM. ur tatogy eo star wit focused apprcach on
Slide 32: Expansion into new verticals such as commercial office
4 Latoh has sgntant whitespace forrapid growth, Latch sees the opportunity to grow into new vertic: commercial office. rt access system is able to serve all doors in a building ~ from garage to unit entrance ~ and could solve a lot ofthe key access problems in large office buildings. Partnering with
Slide 33: We're just getting started
4 Latoh has sgntant whitespace forrapid growth, We're just getting started. rca, Lal i aay ceo products, features, andi ustomé tra stakohelders, adapting tthe markt of and tomorrow.
Slide 34: Pro forma ownership
● ● TSIA Public Shares 19% TSIA Sponsor Shares Existing Latch 4% Rollover Equity 64% PIPE Investor Shares 12% ● ● TSIA Public Shares 19% TSIA Sponsor Shares Existing Latch 4% Rollover Equity 64% PIPE Investor Shares 12%
Slide 35: Financial Summary
Financial Summary LATCH u
Slide 36: We have built an innovative enterprise technology company with significant tailwinds
We have built an innovative enterprise technology company with significant tailwinds for sustained high growth and profitability. (in ntons se soa 256 rr Rn ses sas ees rpc 65% 50 CAGR ann yr cna ot — ee ‘ening wing are pa nd Tonos Reem ser seems tam sino Seopoonbyoew and easing caterer emt Dosh Hor
Slide 37: Annual Historical Financial Results
Annual Historical {Sin mitons) 200k 20108, Financial Results” cha Hd Rin oe os = Sci Ie mortal masse reo) ‘Sumo ara sot, sndrogrsots grad ‘aa ato caver thn 9 2rd pos. eRe ci MS Esse btmean 28 ana 209, hp oe = = we BS ew pe tom gown re oe 84 Cetove Bock Hem Uns and rrage Na Soto Ree © * eee enantio .
Slide 38: Making spaces better places to live, work, and visit
Making spaces better places to live, work, and visit presents many opportunities for our growth in the years to come. Delivering Diente Value for Customers —| Growing within Customers Porto Adding new Customers Moving into new Product Categories Expanding ARPHU ‘ Expanding ino new Geographies a Expa
Slide 39: Appendix
Appendix LATCH ten cont
Slide 40: Preliminary Non-GAAP Reconciliations
Preliminary Non-GAAP Reconciliations {sinmtons) Bo. . BE
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