IDEAFORGE TECHNOLOGY LIMITED — Investor Presentation 2024

Jul 29, 2024

www.ideaforgetech.com

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July 29, 2024

To, To, BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street, “Exchange Plaza”, Bandra – Kurla Complex, Fort, Mumbai – 400 001. Bandra (EAST), Mumbai – 400 051 BSE Scrip Code: 543932 NSE SYMBOL: IDEAFORGE

Sub: Investor/Analyst Presentation for the quarter ended June 30, 2024.

Dear Sir/Ma’am,

This is further to our letter dated July 16, 2024, intimating about an Earnings Conference Call to be hosted by the Company on Tuesday, July 30, 2024, at 11.00 a.m. (IST) post announcement of Unaudited Financial Results (Standalone & Consolidated) for the quarter ended June 30, 2024.

Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith a copy of the presentation to Investor/Analysts on Unaudited Financial Results (Standalone & Consolidated) of the Company for quarter ended June 30, 2024.

The details of Investor/Analyst presentation are attached herewith and also being uploaded on Company’s website at www.ideaforgetech.com

Kindly take the same on your records.

Thanking you, Yours faithfully For ideaForge Technology Limited SONAM Digitally signed by SONAM DILIPKUMAR DILIPKUMA GUPTA Date: 2024.07.29 R GUPTA 19:17:07 +05'30' Sonam Gupta Company Secretary Membership No. A53881

Encl: as above

idea Forge Technology Limited (Formerly ideaForge Technology Private Limited) EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710. Maharashtra (India) Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007 Email: info@ideaforgetech.com CIN No. U31401MH2007PLC167669

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Investor Presentation

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ideaForge Strictly Private & Confidential

Disclaimer

This presentation has been prepared by and is the sole responsibility of ideaForge Technology Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions.

This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer or recommendation to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment thereof. In particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. There is no obligation to update, modify or amend this communication or to otherwise notify the recipient if the information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Certain statements contained in this presentation that are not statements of historical fact constitute “forward-looking statements.” You can generally identify forward-looking statements by terminology such as “aim”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “objective”, “goal”, “plan”, “potential”, “project”, “pursue”, “shall”, “should”, “will”, “would”, or other words or phrases of similar import. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or other projections. Important factors that could cause actual results, performance or achievements to differ materially include, among others: (a) our ability to successfully implement our strategy, (b) our growth and expansion plans, (c) changes in regulatory norms applicable to the Company, (d) technological changes, (e) investment income, (f) cash flow projections, and (g) other risks.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such change or changes.

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www.ideaforgetech.com

ideaForge Strictly Private & Confidential

ideaForge – At a Glance

1[st] 1[st] #1 #5 Pioneer & Market Leader To indigenously To make high-altitude Largest drone Globally in dual-use develop VTOL & Fixeddrones in India technology and drones category[1] Wing VTOL Hybrid manufacturing player UAVs in India 500,000+ <4 mins 30,000+ 72 Operational Metrics Flights completed by An ideaForge drone Flights launched Patent granted + our customers[2] take-off every four in Q1 FY25[4] in process[5] mins[3]

Well Recognized in the Industry ET 40 under Forty ELCINA Best Aviation StartSIDM Champion (2024) Defennovation Award up of the Year Award for 2024 Award at Wings India 'Technology and 2024 Product Innovation’ 1. As of 31 December 2023, based on a global report 4. As of 30 June 2024 2. As of 30 June 2024, for surveillance & mapping operations 5. As of 30 June 2024 – 43 granted & 29 in process 3. On an average for surveillance & mapping in Q1 FY25 www.ideaforgetech.com

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ideaForge Strictly Private & Confidential

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Q1 FY25 Performance Highlights
Revenue from EBITDA Profit Before Tax Profit After Tax
Operations (PBT) ( P AT)
INR 861.9 Mn INR 84.6 Mn INR 15.7 Mn INR 11.7 Mn
INR 970.7 Mn (Q1FY24) Margin 9.8% Margin 1.8% Margin 1.4%
Key Highlights
● Achieved AS9100:D and ISO 27001:2022 certifications
● Launch of FLYGHT CLOUD Beta
● Long-duration paid PoCs with enterprise customers for Drone as a Service (DaaS)
● 5 new patents granted in Q1 FY25
● Successful EAPs and demos in the US with potential for orders
● Strategic investments to build exclusive capability in surveillance (GalaxEye) and accelerate DaaS expansion&
middle-mile logistics development (TechEagle)
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www.ideaforgetech.com

ideaForge Strictly Private & Confidential

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Q1 FY25 Key Performance Metrics
All values in INR Mn
Revenue from Operations Gross Profit & Gross Margin % EBITDA & EBITDA %
55.5 % 43.0% 33.3% 33.0 % 19..8% 9.8%
1,023 539 320
971 440
862
202
287
85
Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25
PAT & PAT Margin % Q1 FY25 Revenue Mix Orderbook Position
19.4 % 10.1% 1.4%
2,533
189
103 1,758
23% 1,247
12
77% 542
Civil
Defence 30-Sep-23 31-Dec-23 31-Mar-24 31-Jun-24
Q1FY24 Q4FY24 Q1FY25
www.ideaforgetech.com
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ideaForge Strictly Private & Confidential

	Q1 FY25 Consolidated Profit & Loss Statement All values in INR Mn	Y-o-Y Q4 FY24 Q-o-Q -11.2% 1,~~0~~23.0 -15.7% 499.7 83.6 -46.8% 439.7 -34.8% 43.0% 190.3 100.5 53.6 -73.6% 202.5 -58.2% 19.8% 58.2 -93.3% 144.3 -87.2% 2.9 -93.7% 141.4 -88.9% 38.1 -93.8% 103.3 -88.6% 10.1%	Y-o-Y Q4 FY24 Q-o-Q -11.2% 1,~~0~~23.0 -15.7% 499.7 83.6 -46.8% 439.7 -34.8% 43.0% 190.3 100.5 53.6 -73.6% 202.5 -58.2% 19.8% 58.2 -93.3% 144.3 -87.2% 2.9 -93.7% 141.4 -88.9% 38.1 -93.8% 103.3 -88.6% 10.1%	Y-o-Y Q4 FY24 Q-o-Q -11.2% 1,~~0~~23.0 -15.7% 499.7 83.6 -46.8% 439.7 -34.8% 43.0% 190.3 100.5 53.6 -73.6% 202.5 -58.2% 19.8% 58.2 -93.3% 144.3 -87.2% 2.9 -93.7% 141.4 -88.9% 38.1 -93.8% 103.3 -88.6% 10.1%	Y-o-Y Q4 FY24 Q-o-Q -11.2% 1,~~0~~23.0 -15.7% 499.7 83.6 -46.8% 439.7 -34.8% 43.0% 190.3 100.5 53.6 -73.6% 202.5 -58.2% 19.8% 58.2 -93.3% 144.3 -87.2% 2.9 -93.7% 141.4 -88.9% 38.1 -93.8% 103.3 -88.6% 10.1%
	Profit & Loss Statement Q1 FY25 Q1 FY24	Y-o-Y Q4 FY24 Q-o-Q
	Revenue From Operations 861.9 970.7	-11.2% 1,~~0~~23.0 -15.7%
	Cost Of Materials Consumed 560.8 133.3	499.7
	Changes In Inventories Of Finished Goods And Work In Progress 14.3 298.2	83.6
	Gross Profit 286.8 539.2	-46.8% 439.7	-34.8%
	Gross Profit % 33.3% 55.5%	43.0%
	Employee Benefits Expense 116.8 154.3	190.3
	Other Expenses 145.5 99.9	100.5
	Other Income 60.0 35.4	53.6
	EBITDA 84.6 320.4	-73.6% 202.5 -58.2%
	EBITDA % 9.8% 33.0%	19.8%
	Depreciation And Amortisation Expense 66.2 46.6	58.2
	EBIT 18.4 273.8	-93.3% 144.3 -87.2%
	Finance Costs 2.7 23.1	2.9
	PBT 15.7 250.7	-93.7% 141.4 -88.9%
	Total Tax Expense 4.0 62.0	38.1
	Profit For The Period 11.7 188.7	-93.8% 103.3 -88.6%
	PAT % 1.4% 19.4%	10.1%

*NM-Not Meaningful

www.ideaforgetech.com

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ideaForge Strictly Private & Confidential

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Business & Operational
Highlights Q1 FY25
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www.ideaforgetech.com

ideaForge Strictly Private & Confidential

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Q1 FY25 Business Updates
Partnership with Inertial
Crossed 500K flights by AS 9100:D and ISO
Labs for building LiDAR
customers 27001:2022 Certifications
payloads
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Completion of the EAP
Partnership with Skylark Beta launch of FLYGHT
program with key
Labs (US) for border CLOUD platform for civil-
homeland security
management solution specific use cases
customers in the US likely to
convert into orders
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www.ideaforgetech.com

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ideaForge Strictly Private & Confidential

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Development of next-gen NETRA and SWITCH platforms in advanced stages

Partner and customer onboarding on automated workflows discovery platform ( FLYGHT CLOUD ) Q1 FY25 Product Development Infrastructure set up for prototyping of of Efforts

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Infrastructure set up for prototyping of of middle-mile logistics platform

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Flight testing and design enhancement of Tactical UAV platform in advanced stages

Prototyping underway for fog penetration radar with GalaxEye

Development of next-gen payloads with onboard AI compute capabilities

Tech enablement underway for new use cases for DaaS

Successfully carried out high-altitude trials in the Himalayas

Product development team augmentation continues through campus and lateral hiring to meet the requirements of the product and technology roadmap

www.ideaforgetech.com

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ideaForge Strictly Private & Confidential

Key Management Team

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Ankit Mehta

Chief Executive Officer

• Promoter of the Company

• Associated with the Company since incorporation

• Bachelor of Technology (M.E.) and Master of Technology (IIT Bombay)

Vishal Saxena

• VP – Sales & Business Development

• Previously associated with the CISCO System and the Indian Army

• Bachelor in Science & Technology and PG in Management (Indian School of Business)

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Rahul Singh VP - Engineering

• Promoter of the Company

• Associated with the Company since incorporation

• Bachelor of Technology (M.E.) (IIT Bombay)

Nilesh Jaywant

Sr. Manager, Legal & Compliances

• Responsible for legal, secretarial and compliances

• Previously associated with Huhtamaki India Limited

• Bachelor in Law and Qualified Company Secretary

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Ashish Bhat

VP – R&D

• Promoter of the Company

• Associated with the Company since incorporation

• Bachelor of Technology (E.E.) (IIT Bombay)

Sonam Gupta

• Company Secretary and Compliance Officer

• Responsible for ensuring managerial and secretarial compliance

• Previously associated with Oriental Rail and Bharat Wire Ropes

• Company Secretary

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Vipul Joshi Chief Financial Officer

• Handling the financial operations of the Company

• Previously associated with Kebee Network, Arvin Meritor Commercial Vehicle

• B.Com (Honours) and MBA (University of Business and Finance, Switzerland)

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www.ideaforgetech.com

ideaForge Strictly Private & Confidential

Board of Directors

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Srikanth Velamakanni Chairman & Independent Director Associated with Fractal Analytics as co-founder

Ankit Mehta

CEO and Whole time Director

Associated with Company since incorporation Bachelor of Technology (M.E.), Masters of Technology (IIT, Bombay)

Rahul Singh

VP-Engineering and Whole time Director

Associated with the Company since incorporation Bachelor of Technology (M.E.) (IIT, Bombay)

Ashish Bhat

VP-R&D and Whole time Director

Associated with the Company since incorporation Bachelor of Technology (E.E.) (IIT, Bombay)

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Mathew Cyriac

Non-Executive Nominee Director Previously associated with Blackstone Advisors

Ganapathy Subramaniam

Non-Executive Nominee Director Associated with company since 2017 Previously associated with Texas Instrument and Founder of Cosmic Circuits

Sutapa Banerjee

Independent Director

Previously associated with Royal Bank of Scotland, ABN AMRO Bank & Ambit Capital Private Limited

Vikas Balia

Independent Director

Designated Senior Advocate in Rajasthan High Court & Associate Member of ICAI

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www.ideaforgetech.com

ideaForge Strictly Private & Confidential

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Script Code- BSE: 543932 NSE: IDEAFORGE Thank you

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ideaForge Strictly Private & Confidential