Apollo Power Ltd. — Investor Presentation 2023

Mar 31, 2023

INVESTORS PRESENTATION

March 2023

This presentation regards the business activity of Apollo Power Ltd. (TASE:APLP) (the "Company"). For the sake of clarity, this presentation does not constitute a proposal to purchase the Company's securities or an invitation to receive such offers, and it is intended solely for the provision of information to investors. This presentation was made for a convenient and concise presentation, and is not exhaustive and does not pretend to encompass the full data about the company and its activities and/or all the information that may be relevant for making any decision regarding investment in the Company's securities and in general, and is not a substitute for independent data collection and analysis and/or to review the reports that the Company publishes and will publish to the public. In addition, the information under this presentation does not constitute a substitute for investment advice by a licensed investment advisor who takes into consideration the data and the special needs of each person and/or investor. The presentation includes data, estimates, forecasts and projections of the Company concerning its operation, which fall under the category of forward-looking information, as defined in the Securities Law, 5728-1968, the realization of which is uncertain and is mostly beyond the Company's control. Forward-looking information is based on Company's management's estimates, which are based, inter alia, on information known to the management when preparing this presentation. There is no certainty that such data and/or estimates and/or forecasts and/or projections may realize, in whole or in part, and they may differ from those included in the presentation, due to, inter alia, their dependency on external factors beyond the Company's control, such as changes in the business and competitive landscape or the realization of any risk factor which affects the Company. In this regard, the presentation includes reference to the Company's estimate with regard to the manufacturing plant in Mevo Carmel (slides 12-13), the negotiations being conducted with Amazon (slide 17), the expectation for a continued increase in the annual sales (slide 28), the sales potential relative to production capabilities (based inter-alia on current selling prices and the current raw material price environment) (slide 29), and the Company's goals (slide 30). Thus, readers of this presentation are warned that the actual results and achievements of the Company in the future may be substantially different from those presented in the forward-looking information under this presentation. Moreover, the presentation may include data obtained from external sources, which were not independently verified by the Company. Furthermore, the presentation may include information which hasn't been included in the Company's periodic and immediate reports, and/or displayed and processed differently from the way it appears in the presentation (see in this context, slide 13, which includes the expected number of new employees at full capacity of the manufacturing plant in Mevo Carmel, and slide 29 regarding the sales potential relative to the production capabilities). For the sake of clarity, the presentation is not in lieu of the immediate and periodic reports published by the Company, and in any case of a contradiction between information in this presentation and information released to the public, information released to the public in aforementioned reporting will prevail. The forecasts and estimates in this presentation are based on information available to the Company at the time of its preparation, and the Company does not undertake to update and/or change any such forecast and/ or estimate to reflect events and/or circumstances occurring after the date of preparation of this presentation.

Agenda:

• Company overview
• Technology
• Apollo-Carmel
• Business developments
• Financial reports
• Future goals
• Summary

Established in 2014

Company Overview

Traded on the Tel-Aviv Stock Exchange, developed a unique technology for producing flexible solar film

Growing Company

~120 team members Annual growth in all parameters 300% income increase in 2022

Developing and manufacturing of flexible, highly efficient, durable and low cost solar cells. Developing self-production abilities by establishing a flexible solar panel factory, Israel's first and the world's largest - 190MWp/y

Ground-breaking technology Global Partnerships and business

Amazon, Audi, Hyundai VW - First commercial order of 33 M Euro for after market product

Vote of Confidence by the Stock Market

During 2022 the company raised Approx 104M NIS

Technology

Durable, Multi-Purpose Solar Film, Creating Endless Possibilities

Apollo Solar Roll

A ground-breaking technology of a lightweight and flexible solar film, efficient and durable that can transform any surface into an energy-producing surface

Flexibility - Rollable to a radius of 6 inches

Highly suitable for water reservoirs and large surfaces | Lightweight - only 3Kg/sqm Easy to ship and deploy | Quick and low cost installation

Apollo Panda

Extremely Durable and Lightweight

• Simple installation for various roof types
• Subtable for light plastic and metal roofs, as well as pergolas
• Lightweight, only 3 Kg/sqm
• Doesn't require an expensive construction

Apollo-Carmel Establishment

Opening of Apollo-Carmel Factory

Setting up a flexible solar panel factory to develop self-production capabilities

Apollo Carmel World's Largest Flexible Solar Factory

A 190MWp/y production factory in Mevoe-Carmel 11,000 sqm of production and storage area

The factory enables commercial production of the company's products using groundbreaking technology The factory was launched on 25/1/2023 and the first fire began. The factory is expected to

Apollo-Carmel in Full Capacity:

New Workers 60

All automated European standard high quality machines

2sqm Panels Per Day Production 2000 24/7

Business Development

Apollo in 2022

Global Partnerships:

Order from Amazon

Solar installation for roofs, logistic warehouses and a solar sidewalk

In February 2022, the company received an order from Amazon of approximately 750K Euro to install a solar system on the roof of a constructively limited logistics facility, and also a solar sidewalk at the entrance to the facility whose installation is complete. To the best of the company's knowledge, about 30% of Amazon's logistic warehouses share the same limitation. This makes a successful installation of the system a potential business opportunity for the company.

Negotiations are currently underway for the installation of systems on several logistic buildings in Europe

A three-year distribution agreement with Tadiran

After the distribution agreement entered into effect in November 2022, Tadiran Solar began distributing Apollo's products in Israel

Upon signing the agreement and receiving an order for about 26 megawatts for a period of three years, Tadiran was granted exclusivity for the sale in Israel in the roofs and agriculture markets

Elrom water reservoir installation without the use of standard plastic flouters

During the 4th quarter of 2022, a floating solar project was installed on the water's surface and along the bank, withstanding various weather conditions (covered with snow in the picture).

Flowers greenhouse installation

A 150 Kilowatt project installed with no use of construction, demonstrating logistical savings and dual use of agricultural land in favor of solar energy

Implementation in car body parts

The Company produced and installed solar roofs and hoods for several Audi and Hyundai vehicles

The company is in cooperation for the development of a roof and hood incorporating Apollo's technology into the companies' vehicles

Award Winning Solar Roof

Apollo's cooperation with Audi for implanting solar technology during the manufacturing process, led to the development of an innovative solar roof, winning the prestigious 2022 JEC Innovation Awards

First major order in the automotive market

In May 2022, the company was selected as the main supplier in favor of an order of about 33 M Euros from VW for an aftermarket product for a certain car model

The agreement includes the purchase of tens of thousands of product units developed by Apollo for VW, spreading over ten years starting in July 2024

Solar solutions for truck fleets, buses and light electric vehicles

During 2022, the company has installed a solar kit on the roofs of about 250 trucks and buses, including the entire truck fleet of Osem-Nestle, saving fuel and reducing carbon emissions

Apollo has performed pilots with several other companies, which own fleets of trucks and buses

First-of-its-kind solar pavement installation

The company completed the installation of a solar pavement in Amazon logistic facility in France

The solar pavement produces clean electricity, charging electric bicycles and scooters of Amazon employees

Financial Overview

24

Research & Development

The company has a special focus and invests major resources in R&D for improving parameters and development of new and groundbreaking products

Financial Strength

In 2022 Apollo raised approximately 104M NIS by rights issue and private issue

Apollo's subsidiary was provided a credit facility by an Israeli bank for working capital until 12.2.2024 in an amount of NIS 40 million

Equity, in M NIS

* As of 30/3/2023, the company has no debts.

Sales

2022 Company's income shows annual increase of 300%. Company predicts a continuance growth in sales year to year

Sales Potential in Relation to Production Capabilities

The company is increasing its production capacity to increase sales potential

		Sales Potential (in M NIS)
600
400
200
	5	20
	2.5 MW 2021 Yokneam factory establishment,	10 MW 2022 Yokneam factory fully operational,
	annual production capacity 2.5MWp	annual production capacity 10MWp

• * Diagram shows sales potential in relation to the production
• * capacity of the company and does not constitute a prediction and/or sales forecast for the future

Moving Forward

Growth continuity in every parameter Increase production with Apollo Carmel 190MWp factory

Innovation and continuous R&D Solar pavement demonstration, automotive developments, etc.

Moving from pilots to commercial sales Grid-connected solar markets, particularly logistic warehouse roofs and agricultural rooftops

Increasing sales in the automotive market Electric vehicle markets, truck fleets, buses, etc.

Technological Improvements Increase efficiency, durability and other key parameters

The Bottom Line

Groundbreaking technology

Patent-protected more efficient than any other flexible solution available today

Embeddable technology

Transforming composite materials into energy producers

Dual use potential

Use of territories previously considered irrelevant to solar energy: Light roofs, inner walls of reservoirs, railway tracks, roads and practically every surface under the sun

Local production

Establishing a 190MWp/yr flagship factory for flexible solar panels, a unique and one-of-a-kind manufacturing facility in Israel

Apollo-power.com | info@apollo-power.com

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