Voltabox AG

Investor Presentation • Nov 16, 2020

electrifies!

Investor / Analyst presentation

Eigenkapitalforum November 16-18, 2020

² AGENDA

• 1. Voltabox Basics & Company Profile
• 1. Recent Operational Business
• 1. Overview on Current Refocusing Process
• 1. Outlook

³ CORPORATE DEVELOPMENT

2014

CORPORATE DEVELOPMENT

⁵ VALUE CHAIN POSITIONING

⁶ ADVANTAGES OF LI-ION TECHNOLOGY

⁷ VOLTABOX USPS

PRODUCT PORTFOLIO APPROACH

9 VOLTABOX R&D PROCESS

¹⁰ PRODUCTION FACILITIES

• Production according to Automotive standards
• Highly automated robotsupported production
• Seamlesstraceability
• High, consistent quality in all stages of production
• 100% automated End-of-Line testing

¹¹ CERTIFICATES

• IATF 16949 / ISO 9001
• ISO TS 14001
• Buy America Act
• Approved battery system manufacturer Listed at the Federal Environment Agency as a battery system manufacturer
• UL
• TÜV

TRACK RECORD

¹³ P&L GROUP FIGURES 9M/20

Revenue reduced to € 13.3m (9M/19: € 37.9 million)

EBITDA decreased to € -21.0m (9M/19: € -5.4 million)

EBIT down to € -33.8m (9M/19: € -11.4 million)

Personnel expense ratio

up to 63.3% (9M/19: 34.3%)

Material input ratio* increased to 93.3% (2018: 76.6%)

¹⁴ IMPACT ON BUSINESS YTD

Projects and calls postponed, orders cancelled or "on hold"

Supply chains blocked, investment stops, customers on short-time work or with interrupted production

Expectations of recovery in sales markets not fulfilled

Intensification of scope of measures

Focus on preparations for new technologies, new customers and EBITDA Break-even in 2021

EBIT burdened by an impending loss provision from the first quarter

Higher material input ratio due to increased part prices for pre-series systems

Negative profitability due to fixed cost shortfall against the backdrop of lack of revenues

¹⁵ QUARTERLY REVIEW – Q3/2020

¹⁶ CASH FLOW STATEMENT JAN. 1 – SEPT. 30

Operating cash flow significantly improved – mainly by reduced net working capital according to plans

• Trade receivables € -30.0m
• Inventories € -6.1m
• Trade payables € -2.6m

Investment cash flow affected by

CAPEX investments of € 9.3m

¹⁷ MEASURES DONE FOR REALIGNMENT

• Standardization selectively enhanced

• NMC 24V standard NMC 24V air-cooled NMC 24V water-cooled NMC 48V standard NMC 48V air-cooled NMC 48V water-cooled >> Improvementsthrough omissions of cost-intensive materials and components

  • Optimization of the module concepts according to requirements of the applications

  • Further strengthening of expertise in the area of functional safety

  • Cell-agnostic approach significantly revised through optimization of supplier structure and cell portfolio

LTO 83V long LFP 24V standard NMC 48V Pouch 3x8 LFP round cellmodule 4x9 LFP round cellmodule

NMC 36V standard NMC 40V standard NMC 40V water-cooled LTO 48V standard LTO 83V standard

2x8 LFP round cellmodule

Revision of the product portfolio in terms of value analysis (especially modular kit)

NMC 103V water-cooled

Product portfolio now more oriented towards customer needs!

* Excerpt from product portfolio.

¹⁸ REFOCUSING SCHEDULE

Scrutinize & Stabilize Realigne & Refresh Go & Gain

• Adjustment of overhead costs, strengthen earnings situation
• Terminate nonprofitable projects

• Refocus on core activities carveout of non-core activities

• Revise and fine-tune business model

• Revise planning methodology increase awareness for risks
• Streamline and set groundwork for increased efficiency, e.g. in R&D

• Develop new future oriented products and solutions

• Strengthen product management and visibility

• Launch new disruptive products
• Tightly monitor developments in sales, R&D and market (e.g. purchasing prices)

August 2019 June 2021

¹⁹ NEW FACE FOR THE FUTURE

Fundamental reorganization of the Group – all geared towards

The NEW Voltabox

²⁰ OUTLOOK: MEDIUM-TERM PLANNING

²¹ OUTLOOK: MEDIUM-TERM PLANNING

• 2020 as a year of transition!
• Successful business initiations through latest sales and marketing activities to be continued >> large effectsto be expected soon (espec. 2022 onwards)
• EBITDA Break-Even targeted in 2021
• Prospective increase in funding quota for retrofitting of buses in the near future
• Completion of the turnaround: Market launch of Voltabox-Flow-Shape-Design®

²² FOCUS MARKETS IN 2020 AND 2021

Revenue split 2020 (according to initial planning)

2020

• Revenues mainly come from Intralogistics, onlysmall amount of revenuesrealized with Bus customers
• Standard series production in marketssuch as Starter Batteries (Automotive), Agriculture ongoing, but on low level

2021

• Noticeable diversification of customer base
• Production ramp-ups based on new framework agreements preparation for 2022

Revenue split 2021

Challenges in today's battery development and production process

"What does it take to achieve technology and cost leadership (back)?"

• Revolutionary new technology concept for Lithium-Ion Batteries
• Voltabox-Flow-Shape-Design® as technological leap in battery design
• Fundamentally different from previous application and production standards for battery modules and systems
• Involves a completely new kind of flexibility in design, significant savings in components and weight, and significant cost advantages

Energy costs Li-Ion batteries: FSD vs. Current pricing situation

The Voltabox approach for the monetarization of the FSD technology

Indirect market penetration by manufacturing licenses

Prototyping before SOP

Application consulting, R&D and certification

²⁹ DISCLAIMER

This presentation is given to you in strict confidence. By attending the presentation, you agree that no part of this presentation or disclaimer may be disclosed, distributed or reproduced to any third party without the consent of Voltabox AG ("Voltabox").

This presentation is being provided for the sole purpose of providing the recipients with background information about Voltabox's business. This presentation, including the information contained in this disclaimer, does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and neither the presentation, disclaimer nor anything contained in them forms the basis of any contract or commitment. This presentation does not purport to summarize all information that an investor should consider when making an investment decision. It should be read in conjunction with Voltabox's other continuous disclosure announcements. Before making an investment decision you should consider whether it is suitable for you in light of your own investment profile and objectives and financial circumstances and the merits and risk involved.

No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information, opinions and conclusions contained in this presentation, including the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in the presentation ("forward-looking statements"). Such forward-looking statements are by their nature subject to significant uncertainties and contingencies and are based on a number of estimates and assumptions that are subject to change (and in many cases are outside the control of Voltabox and its Directors) which may cause the actual results or performance of Voltabox to be materially different from any future results or performance expressed or implied by such forward-looking statements. Forward looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance.

To the maximum extent permitted by law, neither Voltabox nor its related corporations, directors, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.

You represent and confirm by attending and/or retaining this presentation, that you accept the above conditions.

COMPANY CONTACT

Voltabox AG

Investor Relations

Artegastraße 1

D-33129 Delbrück

Phone: +49 (0) 5250 9930-685

Email: investor@voltabox.ag