Tern PLC · LSE:TERN

Tern — Pires Investments — Merger or Acquisition (June 2022)

21 slides from Tern's merger presentation, June 2022

  1. Slide 1: A Next-Generation Technology Investment Company

    A NEXT-GENERATION TECHNOLOGY INVESTMENT COMPANY Investor presentation June 2022 1

  2. Slide 2: Disclaimer

    DISCLAIMER NOT FOR RELEASE, PRESENTATION, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION O

  3. Slide 3: Disclaimer (cont'd)

    DISCLAIMER (cont’d) Except as required by applicable law or regulation, none of the Relevant Parties undertakes or agrees any obligation to update or revise any forward-looking or other statements or information in this presentation, whether as a result of new information, future developments or oth

  4. Slide 4: Corporate Overview: Overview of Pires

    CORPORATE OVERVIEW Overview of Pires Next-generation technology investor Track record Invested in sectors poised for exponential Successful track record of investment with growth, including AI, Machine Learning, IoT, access to significant experience across the Cyber Security, Big Data, Digital Asset

  5. Slide 5: Investment Portfolio

    INVESTMENT PORTFOLIO Diversified portfolio of investments across the technology sector Pires Investments plc Market capitalisation £8 million Share price 4.9 pence As at 20.06.22 Pluto Digital plc Sure Valley Ventures/SV plc/SVV2 Other Investments • Crypto technology and • SVV comprises a portfolio

  6. Slide 6: Proven Realisations

    PROVEN REALISATIONS Investment strategy has already returned cash • Acquired by Unity Technologies Inc (mkt value US$31bn) in December 2019 • Exit achieved 14 months after initial investment • Exit price c. 500% of SVV’s initial valuation • (as at 01 Circa €800,000 of total net sale proceeds accrued

  7. Slide 7: Recent Events in Portfolio Investments

    RECENT EVENTS IN PORTFOLIO INVESTMENTS Majority of portfolio has now seen significant progress and follow on funding • Seed investment round led by Northwell Holdings & • Series B funding in October 2021 raised US$25m, Ventures in December 2021 at a valuation that represents a material uplift • Seed

  8. Slide 8: Expected Future Developments

    EXPECTED FUTURE DEVELOPMENTS Attractive potential Near-term routes to liquidity events now established Valuation uplifts and realisations from the SVV portfolio The fund has largely completed its deployment phase and is now entering the phase of follow on funding and delivering increases in valuatio

  9. Slide 9: Existing SVV Portfolio Overview

    EXISTING SVV PORTFOLIO OVERVIEW Diversified investments across chosen technology sectors AI ML AR VR Security Immersive Technology Pires Investor Presentation 9

  10. Slide 10: Combined Portfolio Overview

    COMBINED PORTFOLIO OVERVIEW Diversified investments across chosen technology sectors AI ML AR VR Security Immersive Technology Pires Investor Presentation 10

  11. Slide 11: SVV UK Software Technology Fund

    SVV UK SOFTWARE TECHNOLOGY FUND New growth opportunity with proven model and team • Investment in new SVV fund which will focus on investing in private UK software companies in the Metaverse, Artificial Intelligence and Cybersecurity sectors • Alongside principal investor the British Business Bank (

  12. Slide 12: Portfolio Companies: Direct Investments

    PORTFOLIO COMPANIES Direct investments • Crypto technology and operations company with a focus on Decentralised Finance (DeFi) and the Metaverse (blockchain gaming and NFTs) • Recent expansion into the gaming sector through investment in and joint venture with Maze Theory, a London-based digital ent

  13. Slide 13: Portfolio Companies: Direct Investments

    PORTFOLIO COMPANIES Direct investments • Security solution that, through its software platform and IoT hardware infrastructure, can monitor people flow and detect the movement of persons of interest • Collects and analyses data to provide unique, scalable and actionable intelligence that helps its c

  14. Slide 14: Recognisable Co-Investors

    RECOGNISABLE CO-INVESTORS Affirmation of quality of portfolio and future prospects Leading domestic and international venture capital investors and a governmental venture agency have invested in the SVV portfolio Pires Investor Presentation 8

  15. Slide 15: Summary: Creating Value for Shareholders

    SUMMARY Creating value for shareholders Focused strategy Portfolio delivering Investing in next-generation technology companies Portfolio companies achieving significant progress since poised for exponential growth initial investment High-quality portfolio Track record Carefully-selected high-qualit

  16. Slide 16: Transaction Rationale

    Transaction rationale Creating value for all shareholders Focused strategy Funding flexibility IoT, VR/AR and AI giving diversity, but focus Increased access to different forms of funding both from external and internal sources Complementary portfolio Geographical spread Aids the development of port

  17. Slide 17: Appendix

    APPENDIX Pires Investor Presentation 14

  18. Slide 18: Portfolio Companies: Existing SVV Portfolio

    PORTFOLIO COMPANIES Existing SVV portfolio Artificial intelligence Ambisense Provides an Artificial Intelligence platform to deliver environmental risk assessment to allow real-time gas and environmental monitoring using both IoT and sensor solutions. The company has already been awarded a number of

  19. Slide 19: Portfolio Companies: Existing SVV Portfolio

    PORTFOLIO COMPANIES Existing SVV portfolio Security (continued) PreCog A security solution platform company that provides data intelligence to combat crime, terrorism and protect vulnerable people. Completed a £1m fundraising round in March 2021. Customers include leading law enforcement and securit

  20. Slide 20: Portfolio Companies: Existing SVV Portfolio

    PORTFOLIO COMPANIES Existing SVV portfolio Immersive technologies Engage XR A developer of virtual reality and immersive experiences with a specific focus on education and enterprise learning and development. The company is listed on AIM, has over 100 commercial customers and is rapidly growing reve

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