Brockhaus Technologies AG

Investor Presentation • Aug 19, 2021

August 2021

The information contained in this presentation (the "Information") is confidential information of and prepared by Brockhaus Capital Management AG ("BCM" or "Company") and has not been independently verified by any third party. The Information is provided as at the date of the presentation and may be incomplete and change without notice. BCM is under no obligation to update the information or to correct any inaccuracies, save for any information required to be disclosed by law. No statement in this presentation and Information shall be understood as an implied or expressed representation or warranty of BCM or Bikeleasing.

In preparing this presentation BCM has relied upon information made available to it by BLS Bikeleasing-Service GmbH & Co. KG, its affiliates ("collectively "Bikeleasing") and its current direct or indirect shareholders, including information as to the financial and operative performance of Bikeleasing, and the Company assumes no liability for any such information.

When assessing BCM's or Bikeleasing's past business activity and considering any investments, past performance is not necessarily indicative of future results. There can be no assurance that BCM or its (future) subsidiaries will in the future derive similar results or that the targeted income of BCM or its (future) subsidiaries will be achieved. In addition, the information may include certain forecasts and forward-looking statements regarding the expected future performance of BCM or its (future) subsidiaries. Words such as "believe", "estimate", "expect", "forecast", "intend", "may", "plan", "project", "predict", "should" and "will" and similar expressions as they relate to the Company are intended to identify such forward-looking statements. These projections and forward-looking statements reflect various assumptions of management regarding the future performance of BCM or its (future) interests and are subject to significant business, economic and competitive uncertainties and evolutions, many of which are beyond the control of BCM.

Accordingly, there can be no assurance that these predictions and forward-looking statements will actually occur, and the Company undertakes no obligation to release the results of any revisions to any forwardlooking statements in this presentation that may occur due to any change in its expectations or to reflect events or circumstances after the date of this presentation. As a result, no undue reliance should be placed on such forward-looking statements.

No reliance may be placed on the Information or opinions contained in this presentation or on its completeness, accuracy or fairness, and any reliance a recipient places on them will be at the recipient's sole risk. No representation or warranty, express or implied, is made or given by or on behalf of the Company or Bikeleasing or any of their respective directors, officers, employees, affiliates, agents or advisers as to the accuracy, completeness or fairness of the information or opinions contained herein and no responsibility or liability is accepted by any of them for any such information or opinions. The Information set out herein may be subject without notice to updating, revision and amendment which may materially change such Information.

Some sources of market data included in this presentation were prepared before the pandemic outbreak of COVID-19, a novel strain of the coronavirus, and have not been updated for the potential effects of this pandemic. The Company is not able to determine whether the third parties who have prepared such sources will revise their estimates and projections due to the potential impact of COVID-19 on e.g., future market developments. In addition, the potential future impact of the ongoing pandemic COVID-19 on the Company's business as well as on markets and economies is still uncertain and will, among others, depend on the further development of the pandemic and other developments worldwide such as the duration or reintroduction of national and regional lock-down measures or the development of leading international economies in light of the pandemic.

This presentation is made available on the express understanding that it does not contain all information that may be required to evaluate the purchase of or investment in any securities of the Company. This presentation is accordingly not intended to form the basis of any investment decision and does not constitute or contain (express or implied) any recommendation to do so. Potential Investor has to assess such decision in the course of its own interpretation and in its sole discretion.

This presentation is for informational purposes only and does not constitute or form part of, and should not be construed as, an offer to buy or subscribe, nor an invitation to submit an offer to buy or subscribe any of BCM's securities.

FY20 Revenue¹ (IFRS)

Revenue CAGR 2018-20² (German GAAP)

FY20 EBITDA margin¹ (IFRS)

Rating by SCOPE Ratings

KPIs Company overview Unique selling proposition

• Bikeleasing ("BLS") is a leading digital platform for the facilitation and management of B2B leasing contracts
• BLS's platform enables corporates to offer their employees (bicycle) leasing by way of gross salary conversion, thus creating high tax benefits
• Founded in 2015, BLS Group currently employs ~130 employees and is headquartered in Vellmar, Germany

Exceptional platform performance

Technological platform strength, allowing for high scalability Comprehensive insurance covering all employer risks 1 3 Access to ~28k B2B customers and >1.3m employees Renowned for best financial conditions in the market² 2 4

Organizational structure (simplified)

Source: Company information, SCOPE Ratings, SAZbike

Note: 1) Unaudited pro forma consolidation of BLS Group according to IFRS; 2) Unaudited pro forma consolidation of BLS Group according to German GAAP; 2) According to SAZbike Lieferanten-Ranking (08.02.2021)

Note: Simplified process description Source: Company information

B2B customer advantages

• Increasing employee motivation, retention and talent acquisition
• Positive publicity through actions in sustainability and environmental protection
• Reduction of social security contributions
• Positive contribution to the reduction of companies' CO2 balance / emissions
• Low administrative effort through highly automated processes

Retailer advantages

• New customers through employee and company referrals
• Customer willingness to pay higher prices on the back of no upfront cost and significant tax savings, resulting in increasing sales
• Cross-selling potential with bike accessories
• BLS not claiming any commissions (vs. competition)
• Easy-to-use through digitally advanced platform with potential for instant payments (vs. previously 2-3 days)

Employee advantages

• Tax advantages through gross salary conversion enables employees to lease highquality bikes at significantly lower price levels
• o Up to 40% discount through savings on tax and social security contributions
• Comprehensive insurance coverage
• On-site retailer consultation, service and customerfriendly claim management
• Basically no administrative effort for handling the leasing processes
• Monthly rate reduces load of high one-time acquisition costs making high-quality bikes affordable for everybody

• Option to purchase bike after three-year lease for attractive price and/or renewal of leasing contract with new bike

• Purchase agreement for a 60% stake¹ in BLS signed on June 16, 2021

• Closing of the transaction subject to several closing conditions, among other:
• o Financing of the cash purchase price by BCM (either by long- and short-term debt, co-investors, equity or a combination of all)
• o Successful completion of ownership control procedures by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin)
• Assuming successful closing of the transaction, new BCM pro forma guidance for fiscal year 2021 of:
• o Pro forma revenue between €125m - €135m²
• o Pro forma adjusted EBITDA between €42m - €46m²
• o Adj. pro forma EBITDA margin of between 31-37%²

#2 in the German bike leasing market¹ with ~28k contracted B2B customers and >1.3m employees

Technologically advanced digital platform, allowing for high degree of automation and scalability

Proven track record of strong profitable growth, expected to be continued over the coming years

Various paths to grow such as market share gains and upselling within the current business, internationalization or move towards a comprehensive social benefits platform

Strong entrepreneurial management team, who will remain invested in BLS with 40% and are thus incentivized to continue driving growth of the business

NEXTOWER | Thurn-und-Taxis-Platz 6 D-60313 Frankfurt am Main T: +49 (0) 69 20 43 40 90 F: +49 (0) 69 20 43 40 971 Mail: ir@bcm-ag.com

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