LION E-Mobility — Audit Report / Information 2022

Mar 22, 2023

Income (P&L) statement of LION Smart GmbH and LION Smart Production GmbH as well as consolidated (according to HGB, not audited)

for the period from January 1st to December 31st, 2022, and from January 1st to December 31st, 2021

	LS GmbH	LSP GmbH	Consolidated	2021
	01.01.2022 -	01.01.2022 -	01.01.2022 -	01.01.2021-
EUR	31.12.2022	31.12.2022	31.12.2022	31.12.2021
Sales	53.759.969	0	53.759.969	29.608.747
Intercompany sales	7.593.256	0	0	0
Decrease/ Increase in inventories of finished goods and work in progress	(316.286)	0	(316.286)	144.360
Own work capitalized	654.193	0	654.193	330.556
Total output	61.691.132	0	54.097.876	30.083.663
Cost of materials	(52.917.692)	(3.762)	(46.472.228)	(25.939.911)
Gross profit	8.773.440	(3.762)	7.625.648	4.143.752
Other operating income	418.473	30.079	448.552	364.432
Personnel expenses	(3.561.396)	(312.322)	(3.873.718)	(3.020.126)
Depreciation and amortization of intangible fixed assets and tangible fixed assets	(134.376)	(7.226)	(141.602)	(330.848)
Other operating expense	(3.510.373)	(1.366.671)	(3.733.013)	(2.189.934)
Earnings before Interest and Taxes (EBIT)	1.985.768	(1.659.902)	325.866	(1.032.724)
Other interest and similar income	167.394	0	167.394	56.303
Interest and similar expenses	(55.163)	(40.884)	(96.047)	(26.871)
Financial result	112.232	(40.884)	71.348	29.432
Earnings before taxes	2.097.999	(1.700.786)	397.214	(1.003.292)
Taxes on income	(34.662)	0	(34.662)	0
Other tax	(648)	(645)	(1.293)	(684)
Earnings after tax	2.062.689	(1.701.431)	361.259	(1.003.976)

Balance Sheet of LION Smart GmbH and LION Smart Production GmbH as well as consolidated (according to HGB, not

as of december 31st, 2022 and december 31st, 2021

	LS GmbH	LSP GmbH	Consolidated	2021
EUR	31.12.2022	31.12.2022	31.12.2022	31.12.2021
ASSETS
A. Fixed Assets	8.097.765	1.729.161	9.826.926	7.434.350
I Intangible Assets	3.144.340	2.536	3.146.876	2.488.073
II Tangible Assets	362.865	1.726.625	2.089.490	355.718
III Financial Assets	4.590.560	-	4.590.560	4.590.560
B. Current Assets	12.200.714	9.311.294	13.918.752	5.966.175
I Inventories	418.985	6.471.225	6.890.211	508.088
II Receivables and other assets	10.249.344	1.824.686	4.480.774	4.332.357
III Bank balances, cash and cash equivalents	1.532.385	1.015.383	2.547.767	1.125.730
C. Prepaid expenses	111.965	9.044	121.009	79.840
Total assets	20.410.444	11.049.499	23.866.687	13.480.366

	LS GmbH	LSP GmbH	Consolidated	2021
EUR	31.12.2022	31.12.2022	31.12.2022	31.12.2021
EQUITY AND LIABILITY
A. Equity	7.649.475	(1.676.431)	5.973.044	5.586.785
I Subscribed capital	129.500	25.000	154.500	129.500
II Capital reserve	9.766.550	-	9.766.550	9.766.550
III Accumulated losses brought forward	(4.309.265)	-	(4.309.265)	(3.305.289)
IV Result for the period	2.062.689	(1.701.431)	361.259	(1.003.976)
B. Accruals	664.246	73.459	737.705	432.037
C. Liabilities	12.096.723	12.652.471	17.155.937	7.461.543
Total equity and liabilities	20.410.444	11.049.499	23.866.687	13.480.366

Cash flow statement of Lion Smart GmbH and Lion Smart Production GmbH as well as consolidated

for the period from January 1st to December 31st, 2022, and from January 1st to December 31st, 2021

	LS GmbH	LSP GmbH	Consolidated	2021
	01.01.2022 -	01.01.2022 -	01.01.2022 -	01.01.2021-
EUR	31.12.2022	31.12.2022	31.12.2022	31.12.2021
Result for the period	2.062.689	(1.701.431)	361.259	(1.003.976)
Non-cash expenses
- Depreciation and amortization of fixed assets	134.376	7.226	141.602	330.747
- Non-cash interest expense and income	32.165	40.884	73.049	26.014
Increase (+), decrease (-) in provisions	232.210	95.459	327.668	(134.479)
Increase (+), decrease (-) in trade receivables	465.078	(15.880)	449.198	(533.717)
Increase (+), decrease (-) in prepayments	(112.176)	(812.932)	(925.108)	0
Increase (+), decrease (-) in other receivables	(7.674.578)	0	(81.322)	(53.400)
Increase (+), decrease (-) in other assets	1.292.513	(1.802.381)	(509.868)	(757.786)
Increase (+), decrease (-) in inventories	201.279	(6.449.225)	(6.247.947)	(169.595)
Increase (+), decrease (-) in accrued income and prepaid expenses	(32.125)	(28.355)	(60.480)	3.865
Increase (+), decrease (-) in trade accounts payable	(1.410.655)	207.241	(1.203.414)	2.574.739
Increase (+), decrease (-) in other liabilities	1.960.125	7.664.106	2.030.975	48.449
Increase (+), decrease (-) in accrued expenses and deferred income	(223.256)	0	(223.256)	55.861
Cash flow from operating activities	(3.072.356)	(2.795.288)	(5.867.644)	386.724
		0	(654.193)	(330.557)
Additions to internally generated intangible assets	(654.193)	(2.609)	(37.740)	(14.549)
Acquisition of licenses	(35.131)
Acquisition of machinery	(4.530)	(15.000)	(19.530)	(20.000)
Disposal of machines	0	0	0	1.838
Acquisition of other equipment, factory and office equipment	(103.936)	(894.022)	(997.958)	(121.305)
Disposal of other equipment, factory and office equipment	0	0	0	3.230
Acquisition of tools	0	(2.698)	(2.698)	(4.317)
Repayment of other financial liabilities	(273.200)	0	(273.200)	0
Cash flow from investing activities	(1.070.990)	(914.329)	(1.985.319)	(485.660)
Intercompany Loan	4.550.000,00	4.700.000,00	9.250.000,00	-
Repayment of loans to companies in which participations are held	-	-	-	210.000,00
Granting of loans to companies in which participations are held	-	-	-	-
Repayment of other financial liabilities	-	-	-	-
Deposit of statutory capital reserve	-	-	-	500.000,00
	-
Subsribed capital	-	25.000,00	25.000,00	-
Repayments of liabilities to banks		-	-	-
Cash flow from financing activities	4.550.000	4.725.000	9.275.000	710.000
Net change in cash and cash equivalents	406.654	1.015.383	1.422.037	611.064
		0	1.125.730	514.667
Cash and cash equivalents beginning of the year / of the period	1.125.730	1.015.383	2.547.767	1.125.730
Cash and cash equivalents at the end of period	1.532.385