Intelligent Electrification - Corporate Presentation Q3 2021
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Intelligent Electrification Corporate Presentation Q3 2021
Forward Looking Statement Notice
This presentation contains forward-looking statements within the meaning of Canadian securities laws. These statements relate to future events or future performance and reflect management’s
expectations regarding the Company’s growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs
and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”,
“anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, “target” or the negative of these terms or other comparable terminology. Forward-looking statements are necessarily based on
estimates and assumptions made by management in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as factors
management believe are appropriate. Forward-looking statements may include but are not limited to statements respecting volatility of stock price and market conditions, technology risks and risks
associated with the commercialization of Company's technology, regulatory risks; the Company's reliance on key personnel; the Company's limited operating; market uncertainties, and the
protection of patents and intellectual property.
These forward-looking statements are based on the beliefs of the management of Exro and on assumptions which such management believes to be reasonable, based on information available at the
time such statements were made. However, there can be no assurance that forward-looking statements will prove to be accurate. Such assumptions and factors include, among other things:
demand for the technology of the Company; the Company's ability to maintain existing partners and attract new partners; the impact of competition; the Company's ability to obtain and maintain
existing financing on acceptable terms; the Company's ability to retain skilled management and staff; currency, exchange and interest rates; the availability of financing opportunities, risks
associated with economic conditions, dependence on management; conflicts of interest and market competition; the ability to commercialize the Company’s technology; and operating in an
environment subject to regulation.
The preceding list is not exhaustive of all possible factors. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the
Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, any investors or users of this document
should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject
to a number of known and unknown risks, uncertainties, assumptions and other factors
Please refer to the Company's annual information form and other public disclosure documents filed with the Canadian securities regulators under its profile at www.sedar.com for additional
disclosure respecting the risks affecting the Company and its business.
Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or achievements may differ materially from any future results,
performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company’s business, or if the Company’s
estimates or assumptions prove inaccurate. The Company does not undertake to update any forward-looking information, except as, and to the extent required by applicable securities laws.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 2
Contents
Company Overview
Who We Are
Our Technology
Capabilities
Coil Driver: Electric Vehicle Solutions
Product Roadmap
How It Works
Battery Control System: Stationary Energy Solutions
Product Technology
Business Strategy
Partners
Our Team
Financials
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 3
Company Overview About Exro Technologies
Exro is pioneering intelligent control in power electronics
Patented technology
HQ in Calgary, Alberta, Canada
New US HQ in Phoenix, Arizona
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 5
Exro is bridging the gap to electrification
WHAT WE DO
Optimize power in electric vehicles and energy storage
HOW WE DO IT
Through next generation power electronics
technology for motors and batteries
WHY WE DO IT
To enable an electrified world with
sustainable power solutions
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 6
What are power electronics?
Power electronics are what control and convert electric power.
Where can you find power electronics?
Everywhere you need to control and convert electric power!
As the world becomes increasingly more electrified, you will find power
electronics in many new applications.
Electric vehicles, energy storage, home improvement, recreational, rail,
electric aviation, consumer electronics, and more!
Why are we different?
Our innovation brings two different formats of power electronics
together into one device that achieves greater control of ‘coils’.
Coils are a fundamental component of many power conversion
applications, including electric motors.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 7
New class of power electronics
EXRO DRIVES EXRO ENERGY
Coil Driver for Mobility Applications Battery Control System for Stationary Energy
Ability to control two torque profiles within a single motor New inverter design with advanced cell control software
Next generation inverter enables ‘coil switching’ Enables next generation stationary energy storage
Cost effective performance Optimized for Lithium Ion Phosphate
Improve cost position Utilizing cell balancing
For battery electric vehicles (BEVs), fuel cell electric vehicles Improve power density
(FCEVs), and plug-in hybrid electric vehicles (PHEVs)
Repurpose batteries
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 8
Low volume contract manufacturing opportunities
Capacity of ~100,000 units
Ability to supply low
volumes from in-house
automotive-duty
manufacturing
We are building a world class clean room for
manufacturing that enables us to produce
products that meet automotive-ready
compliance.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 9
Capabilities at-a-glance
Exro is expanding to become a market leader
Canada
INNOVATION HEADQUARTERS MANUFACTURING CALGARY, AB
CALGARY, AB CALGARY, AB VANCOUVER, BC
Automotive duty Dyno World-class automated inverter manufacturing
with functional safety team
Advanced Power Electronics design
Complete clean room with SMT line(s)
Dedicated engineering team of 25+
Automotive certified by end of 2022
13,000 Sq. Ft.
37,000 Sq. Ft.
PHOENIX, AZ
ANNAPOLIS, MD
USA Standards & Compliance
INNOVATION HEADQUARTERS
PHOENIX, AZ
Automotive duty Dyno testing- end of 2021
Advanced power electronics design
HQ for Energy Storage
Opening Q4 2021
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 10Total addressable markets
EXRO DRIVES
Total Addressable Automotive Inverter Market for Electric Vehicles:
Every vehicle has at least 1 inverter
USD $7.7B by 2025 – Global CAGR of 17.6%1
Global Inverter Market – All Segments
USD $26B by 2025 – Global CAGR of 15.6%2
EXRO ENERGY
Total Addressable Grid Connected Energy Storage:
USD $9.3B by 2025 – Global CAGR of 7%2
Sources:
1 https://www.marketsandmarkets.com/Market-
Global EV Battery Reuse and Recycling Market: Reports/vehicle-inverter-market-59207794.html
2 https://www.globenewswire.com/news-
release/2020/03/18/2002292/0/en/The-global-inverter-
USD $7.8B by 2025– Global CAGR of 99.8%3 market-is-projected-to-grow-from-USD-12-8-billion-in-
2020-to-USD-26-5-billion-by-2025-it-is-expected-to-
grow-at-a-CAGR-of-15-6-from-2020-to-2025.html
3 https://www.mdpi.com/2673-4079/2/1/11/pdf
Global Second Life Energy Storage Market: 4 https://www.mckinsey.com/industries/automotive-and-
assembly/our-insights/second-life-ev-batteries-the-
newest-value-pool-in-energy-storage
USD $30B by 2030 – Global CAGR of 15.6%4
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies.
11“The automakers are supporting Biden’s new target, announcing
their shared aspiration that 40-50% of their cars sold by 2030
will be electric vehicles.”
“The future of America’s car manufacturing is electric
and there’s no turning back.”
- Joe Biden, President of the US
Source: https://www.cnn.com/2021/08/05/politics/biden-emissions-standards-electric-vehicles/index.html
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 12EXRO DRIVES Motor Control Division Product technology for electric vehicle solutions
EXRO DRIVES
Smart Coil Driver
The first intelligent coil switching drive
Equipped with advanced power electronics technology,
the Coil Driver (CD) can drive any AC motor with
increased performance in a wide range of applications
and multiple power profiles.
Electric gearing
Next generation control
Expands motor capabilities Figure 1. Coil Driver High Voltage (800V)
The new brain for electric vehicles
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 14Future of electric drive technology
TRADITIONAL TORQUE CHARTS COIL DRIVER TORQUE CHART
Traditional OEMs needed to make a choice Electric drives are now transforming for EVs
Two separate modes, two separate motors Coil Driver can bring a next generation of power electronics that
Series mode = high torque applications can fill the traditional gap
Parallel mode = high speed applications Electric drive technology becoming differentiators for EVs
Left a gap to fill for performance Now one inverter can do the job of two
Coil Driver brings two traditional power electronics formats into one device
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 15How it works
Enables “coil switching” – a greater depth of
control on electric motor coils
An electric drive that achieves a greater depth of
control on electric motor coils.
Coil Driver Achieving a greater depth of control on electric
motor coils which enables “coil switching” or “torque
switching”.
Drive electric motors
Torque switching can expand the capabilities of an
A drive controls motor performance
electric motor and is vital for electrification transition.
A drive is also known as an inverter
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 16Electric vehicle example
Optimized motor = reduce cost, size and weight of motor
Optimized gearbox = reduce or remove two speed gearbox
CLASSIC EXRO
POWERTRAIN POWERTRAIN
2 1 Battery 1 Battery
3
4 5
2 Classic Inverter 2 Exro Inverter
1
Optimized
3 Standard Motor(s) 3
Motor(s)
Standard 4
Optimized
4
Gearbox Gearbox
5 Wheel 5 Wheel
Exro Coil Driver enables a cost-effective solution
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 17INTRODUCING COIL DRIVE CHARGING
New Exro powertrain solution
1 Remove the onboard charger (OBC)
2 Remove the external AC/DC charger
2
Add Vehicle to Everything (V2X) capabilities
Vehicle to Grid (V2G) 1
Vehicle to Building (V2B)
Vehicle to Application (V2A)
Reduce system costs further &
enhance versatility
BMS = Battery management system
LiB = Lithium-ion battery
FG = Fixed gear
Conventional Coil Driver Powertrain
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 18Coil Driver Product Line
Powerful, efficient, versatile.
Product
LO W VO LTAGE H IGH VO LTAGE
family
Nominal
Up to 48V Up to 100V Up to 400V Up to 800V
voltage
Power
Si FET Si FET SiC FET SiC FET
Module
Addressable Recreational Electric cars Fleet vans Trucks & Buses
markets E-scooters Motorcycles SUVs & trucks Super cars
Form factor may change as applications changes. All options may be customized as needed.
Si FET = Silicon field effect transistor
SiC FET = Silicon carbide field effect transistor
Full product offering covering complete range of mobility applications
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 19CASE STUDY
Commercial trucking
For every passenger vehicle, a
range of 1-2 inverters are needed.
For every commercial vehicle, a
range of 2-4 inverters are needed.
The Coil Driver enables opportunities to replace the existing inverters
and eliminate multiple inverters and/or reduce the motor size.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 20CASE STUDY
Commercial trucking
The CAGR needed to reach 50% of sales being electric by 2030 is
46% higher for MV/HV vehicles than LV
vehicles in North America.
INVERTERS VEHICLE
YOY GROWTH RATE1 CAGR2
2021 - 2022 2022 - 2023 2021 - 2030
Passenger and LCVs 53% 31% … 41%
MHCVs 69% 54% 60%
Difference +30% +75% +46%
LCV = Light commercial vehicles Sources:
1 IHS Markit AutoTechInsight data. Inclusive of databases on automotive components, power electronics and inverters
MHCV = Medium and heavy commercial vehicles (available via subscription)
2 https://www.whitehouse.gov/briefing-room/statements-releases/2021/08/05/fact-sheet-president-biden-
announces-steps-to-drive-american-leadership-forward-on-clean-cars-and-trucks/. Exro has used the US
automotive sales and demographic data to forecast vehicle demand for the decade. This projection used recent sales
of electric vehicles to calculate the required CAGR to meet the White House 50% electrification target.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 21CASE STUDY
Commercial trucking exceeding standards
Performance charts are based on simulation results from a system comprised of 800V Coil Driver HD and TSA
TMPW 38-26-8 permanent magnet synchronous motor and are subject to change.
More torque | More speed | Unmatched power
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 22CASE STUDY
Power optimization of electric supercar
CLAS S IC EXRO CO IL
PO WERTRAIN DRIVER
Dual Motors RWD 475 kW +107% 983 kW
Top Speed 288 km/h +35% 389 km/h
One of the quickest
0 – 100 km/h 2.5 s +28% 1.8 s
cars in the world.
At 0 RPM 2000 Nm +39% 2777 Nm
Values based on Ansys simulation model with similar electric powertrains in a high performance car
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 23Total system cost
Case study based on Class 7 electric vehicle assuming high-volume production not
including cost savings from Coil Drive Charging feature.
Reduce system cost by over 20%
and maintain same performance. *
OR
Increase performance by up to 50% and
increase system cost by up to 8%. *
* Performance values based on simulation model and are subject to change.
* Cost values based on high-volume component production and are subject to change.
Flexibility in system design allows for reduced system cost or
improved performance at nominal cost
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 24The future of mobility
From bikes, buses, off-highway vehicles and more! Whenever there is a
need for torque and speed, there is a potential opportunity for the future.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 25EXRO ENERGY Energy Storage Division Product technology for stationary energy solutions
What can we do with EV batteries at end of life?
Lifecycle value chain
Exro‘s Battery Control System can repurpose those
batteries for a new second life application in our energy
storage systems that exceed Underwriters' Laboratories
(UL) standards.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 27EXRO ENERGY
Battery Control System (BCS)
Cell-level battery control
Integrating a battery management system (BMS) with
an inverter.
BCS is a new inverter design with advanced cell
control software
With cell optimization, the BCS can repurpose a
battery for a second life application
BCS enables a next generation of Energy Storage
System (ESS) solutions for first and second life
Figure 2. 25 kW 150 kW/hr Energy
The new brain for energy storage Storage System with a BCS
BCS enables next generation ESS
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 28How it works
Enables ‘cell balancing’ - a greater depth of
control on battery cells
An ESS powered with BCS that offers greater depth
Battery Control of control on battery cells
Improve versatility of power distribution and power
System density
The transition to electrification - repurposing can
expand the life of batteries
Software to monitor battery cells
Inverter to control battery cell balancing
Next generation Stationary Energy Storage
System
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 29Imagine…
REPURPOSE 10 buses that can power a future office
building *
OPEX BENEFITS A remote ESS that tells you when a
battery is going down
Predictively replace with out downtime
IMPACT Creating a resource of energy from
discarded batteries
Batteries have +60% operating life in second life storage
application after an entire first life in an EV. Until now,
second life had a plethora of technical and bankable
challenges.
*Power of buses and size of office buildings will vary
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 30Business Strategy Partners | Model | Team
Partner model
Development Partners Commercial Partners
Develop technology beyond proof of concept stage Partners interested in becoming customers for Exro’s
to validation in a relevant environment commercial products but first require validated
integration
Objectives are to demonstrate technologies within
new segments and applications Objectives are to deliver low-volume production for
purchase orders
Strategy Partners Motor Partners
Focused on operating validation for serial production Enable system solutions for Exro products by
of Exro products developing an optimized motor for Coil Driver
Objectives are high-volume contracts, licensing or Objectives are to deliver a motor and inverter system
contract manufacturing solution to deliver to market segments
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 32FEATURED PROJECTS
Next generation Coil Driver e-axle
Developing an advanced eAxle utilizing Coil Driver
technology to improve cost and performance of
Linamar’s eAxle product line.
Linamar is a leading tier one manufacturer of advanced mobility solutions for the
automotive industry. Linamar has over 26,000 employees in 61 manufacturing
locations, 12 R&D centers and 25 sales offices which generated sales of $7.4
billion in 2019. Customers include top automotive manufacturers, commercial
vehicle manufacturers and multinational delivery services companies
Completed testing and validation of prototypes is planned for Q2 2022.
Following successful testing of the eAxle program, Exro and Linamar will promote
the technology to the market with the intention of commercializing the Coil
Driver eAxle into series production.
For more information, read our press release “Exro Announces Strategic
Development Agreement with Linamar for Electric Drive Solution to Advance Electric
Vehicle Adoption”.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 33FEATURED PROJECTS
Enhanced electric buses
Deploy an enhanced electric bus with Coil Drive
technology for Vicinity’s suite of electric buses.
Vicinity Motor Corp. (formerly Grande West Transportation Group) is a leading
supplier of advanced shuttle transportation vehicles for public and commercial
use. With operations in Canada and the US, VMC has established significant
market penetration and a large backlog of bus orders. Vicinity’s flagship product
line, the Vicinity Bus, is a purpose-built electric bus revolutionizing sustainable
public transit with next generation components.
Exro will supply the Coil Drive System technology and Vicinity will conduct
operational validation through deployment of an optimized electric powertrain
for VMC’s suite of electric buses. The Coil Drive System solution will enable the
next generation of electric buses with improved performance that accelerates
the transition to a sustainable public transit system. VMC will test and validate
the Coil Driverᵀᴹ powertrain integration with the intent of implementing it in
future serial production batches of the electric bus product line.
For more information, read our press release “Exro Partners with Vicinity Motor Corp
to Deploy Enhanced Powertrain into Next-Generation Electric Buses”.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 34FEATURED PROJECTS
High performance heavy duty trucks
Partnering with SEA Electric to develop an enhanced
electric powertrain with the Coil Driver for heavy duty
trucks and delivery vehicles.
SEA Electric is widely recognized as a market leader in the electrification of
commercial vehicles with operations in five countries and over one million miles
of independent OEM tested and in-service operation. SEA Electric is currently
partnered with commercial vehicle OEM’s, dealers, and upfitters to deliver a new
range of zero-emissions trucks and is on schedule to deliver more than 1,000
electric vehicles this year and is forecasted to have more than 15,000 vehicles
on the road by the end of 2023.
Exro and SEA will co-develop a next generation electric heavy-duty truck to
demonstrate in the North American market by second half of 2021. SEA is also
working with Exro on the development of the BCS with battery development to
facilitate second life applications.
For more information, read our press release “Exro Strengthens Partnership with SEA
Electric to Accelerate Development of Exro’s Battery Control System”.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 35Highlighted Projects
Co-developing advanced Coil Cooperating to optimize the Developing a Coil Driver solution in
Driver powertrain to take SR-S/F to electric powertrain for LAND’s a motor and drive integration to
higher level of performance. District motorcycle to improve support Potencia’s Pronto Power
Applying technology to ZF75-10 performance. Bringing a new system for enabling conversion of
motor. solution for the lightweight electric combustion vehicles to electric.
motorcycle industry
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 36Our partner model today
Design Validation Operational Production
Motor Partners
COIL DRIVER LV
COIL DRIVER HV
Commercial Partners
COIL DRIVER HV
COIL DRIVER LV
COIL DRIVER HV
COIL DRIVER LV
COIL DRIVER HV
COIL DRIVER LV
Development Partners
COIL DRIVER HV
COIL DRIVER HV
Strategic Partners
COIL DRIVER LV
Validating integration with applications
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 37Business model: Multi-path revenue
LOW VOLUME ENGINEERING HIGH VOLUME &
MANUFACTURING SERVICES LICENSING
Motor Partners Commercial Partners Strategic Partners
Value Chain Partners
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 38Major milestones
400v PoC for fleet commercial trucks
Innovation Centre Linamar: Commercial partnership #3
established strategic partner
Potencia: Deliver 100v driver for
electric cars First revenues
Validate BCS PoC
Pilot BCS
LAND: Commercial partnership #1
Zero Motorcycles: PoC
SEA Electric: PoC
Validate 48v driver (E-bike) HEINZMANN: PoC Vicinity: Commercial
partnership #2 EBITDA positive
Signed 8th deal
Quality process
Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 2HY 2023
PILOTS VALIDATIONS COMMERCIALIZE
Complete In Progress PoC = Proof of concept
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 39Management Team
Sue Ozdemir John Meekison
Chief Executive Officer Chief Financial Officer
Former CEO of GE's Small Industrial Motors 20+ Years Experience as CFO in Capital and Small
Division - General Electric (NYSE: GE) (“GE”). Cap Markets.
$160M revenue enterprise Previous Capital Experience- Haywood Securities
Josh Sobil Richard Meaux
Chief Commercial Officer Chief Marketing Officer
10+ Years Experience in electric motors and power Diverse experience as Director of Marketing and
electronics as Siemens (NSEI: SIEMENS) segment Digital Operations at GE (NYSE: GE) and GE
leader from 2016-2019 and sales leader at GE Industrial Motors, a Wolong Company
(NYSE: GE) Mechanical & Aerospace Engineer
Mechanical Engineer & MBA
Eric Hustedt
Chief Engineer
20+ Years Experience – Automotive Inverter
Design and Manufacturing
International Rectifiers Automotive
KSR International,
Vishay Intertechnology (NYSE: VSH)
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 40Board of Directors
Mark Godsy Sue Ozdemir
Executive Chairman Chief Executive Officer
Co-Founder ID BioMedical
Co-Founder AngioTech Pharmaceuticals
Eamonn Percy Frank Borowicz
Director Director
Former VP of Operations at Ballard Power (TSX: 40+ years exp corporate governance, regulatory
BLDP) compliance and risk management
Former President Powertech Labs
Jill Bodkin Julie McCoy Wurmlinger
Director Director
Former Director at Westport (NASDAQ: WPRT) Former Chief Engineer at Ford Motor Company
Former Partner at E&Y 30+ years automotive executive
Terence Johnsson Alan Gaines
Director Director
Former Vice President at Audi, Volkswagen, Chairman and CEO of ALG Corp.
General Motors 35+ years transactional investment banker and
35+ years automotive sales experience M&A advisor
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 41Environmental, social & governance
Environmental Social Governance
Exro is committed to environmental factors Exro is committed to positive social change Exro is committed to strong, positive and
through creating innovative ways to reduce through a cohesive and inclusive team culture impactful governance and has a management
energy consumption team and board of directors aligned on this
Exro emphasizes gender equality and
mission
Exro has converted all lights to LED format diversity in workplace
in its main facility to reduce congestion and Board Diversity, both in backgrounds,
Exro has been involved in community
carbon footprint gender and disciplines
support and charitable endeavors
Exro only utilizes recyclable, renewable Business Ethics, solidified by impeccable
Exro’s supply chain focuses on long-term
products in its workplace track record of team
sustainable management
Risk Management, learned through
experience
Sound Corporate Governance, as
demonstrated by ES&G initiatives taken by
Exro
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 42Financials
Canada* USA
TSX: EXRO OTCQB: EXROF
Basic shares outstanding 120,607,606
Stock options outstanding 10,736,635
Warrants outstanding 1,855,061
Fully-diluted shares outstanding 133,199,302
Capitalization table numbers as of August 18th, 2021
*Exro Technologies up listed to TSX on July 7th, 2021. For more information, read our
press release “Exro Announces Graduation to the Toronto Stock Exchange”.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 43Key Catalysts
Focus on operational World class team Expand Global footprint
excellence Recruitment of key expertise for Moving to NASDAQ
business development
Completion of best-in-class
manufacturing facility
Strong financial Increasing our partner
foundation network
Capital position to accelerate Demonstrating functional operation
future growth of our technology through
customer deployments
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 44Exro is bringing new solutions for electrification
Improve EVs cost &
performance
SPEED | TORQUE | EFFICIENCY
Add new Extending life of
capabilities to EVs batteries
CHARGING | V2X SECOND LIFE | ENERGY STORAGE
Leading the way to a sustainable electrified world.
The content of this presentation is proprietary and confidential information of Exro Technologies. It is not
intended to be distributed to any third party without the written consent of Exro Technologies. 45Thank you
Sue Ozdemir
Chief Executive Officer 12-21 Highfield Circle SE
Calgary, AB, T2G 5N6 Canada
Questions? www.exro.com
ir@exro.com
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