9/22/2015 Strictly Confidential - Property of Lithops 0

Highlights

• First Italian Li-Ion Technology Developer and Provider established in 2010

• Focus on High-Power Li-Ion Technology: Lithops cells are fully recharged in less than 5 min

• Provider of tailor made solutions for its customers

9/22/2015 Strictly Confidential - Property of Lithops 1

Team

• Carlo Novarese (managing director): Lithops founder, he has 7 yearsof experience in creating, funding and managing newCo. He workedas researcher at Politecnico di Torino and MIE University.

• Daniela Fontana (R&D manager): before joining Lithops, she servedas R&D manager at Rockwood Pigments and brings almost 8 yearsof experience in wet chemistry and CFD.

• Dr. Kazunori Ozawa (cell design and development): more than 40years of experience in the battery field, founder of ENAX and projectteam leader for 1991 Sony first commercial lithium-ion cell release

29/22/2015 Strictly Confidential - Property of Lithops

Team

• Angioletta Boero (sales and business development): more than 30years in the automotive, she served as SVP in automotivecompanies, responsible of development and P&L of lightcommercial vehicles and managing director of international JVs.

• Giulio Pagella (finance): 20 years of experience in accounting andfinance, name partner of an accounting firm in Torino (StudioPagella – Basilio – Bonelli), board member of several SMEscompanies

39/22/2015 Strictly Confidential - Property of Lithops

A strong network

49/22/2015 Strictly Confidential - Property of Lithops

Where we are

• Set up of a pilot facility from active material up to pouch cell assembling and testing (ca 200 kWh/y – scale-up to 600 kWh/y by Q1 2016)

• Run exstensive testing on electrodes and resulting cells (5 years)

• Granted several EU founded R&D projects

9/22/2015 Strictly Confidential - Property of Lithops 6

9/22/2015 Strictly Confidential - Property of Lithops 7

Standard cell configuration

Standard Cell Specifications

Cell dimensions with tabs [mm] 296 x 164 x 3Energy Density [Wh/kg] 80Power Density [W/kg] + 4500Nominal Tension [V] 3.3Capacity at 1 C [Ah] 6Operative temperature [°C] -10 / +55Maximum discharge current (continuos) 30 CMaximum charge current (continous) 20 CCycle Life (60% DOD, 80% capacity remaining, 1C)

+ 3.000 cycles

Cathode LFP based

Lithops cell is charged in 3 min

Best in class

Global Lithium Ion Batteries (LIB) market

• LIB market is dominated by producers in the Far East, (Japan, China and South Korea)

• Just 1% of the total LIB production is based in Europe

• Main LIB players are Samsung, Panasonic, LG, Sony, Lishen, ATL….

9/22/2015 Strictly Confidential - Property of Lithops 8

China, 21.00%

South Korea, 38.00%

Japan, 33.00%

Others, 8%

Market share by revenues (up) and localization (down)Source: The rechargeable battery market and main trends 2013-2015 – C. Pillot, Avicienne Energy

LIB Market forecast

9/22/2015 Strictly Confidential - Property of Lithops 9

• LIB market is expected to strongly grow in the 2013-2025 period (10% CAGR, 35 B$ total value in 2025(1) )

• Driven by two sectors, ESS and Mobility. ain markets

Stationary (ESS)

Stationary applications for grid stabilization and energy storage

Mobility

Applications for the xEVtransportation market

(1) Source: The rechargeable battery market and main trends 2013-2015 – C. Pillot, Avicienne Energy

LIB Main markets drivers

• LIB main market is dominated by high volumes, standardizationand cost (less than 400 $/kWh)

• Cost vs Energy is the main driver, technology is mature

• Main players: Asian Producers

• New Players: Tesla, Alevo, …..

• Entry barrier: stellar CAPEX investments required to be enter the market

9/22/2015 Strictly Confidential - Property of Lithops 1010

Lithops target: speciality market

• A specialty market is also growing, with an expected CAGR of 16% for the 2013-2020 period (4.5 B$(1) at 2020, 20% market share in Europe)

• Performances oriented, price is higher

• Target markets: special ESS applications, premium automotive, aerospace, military, motorsport, ... -> Specialty/tailored applications

9/22/2015 Strictly Confidential - Property of Lithops 11

(1) Source: The rechargeable battery market and main trends 2013-2015 – C. Pillot, Avicienne Energy

2020 LIB Market / Lithops target

9/22/2015 Strictly Confidential - Property of Lithops 12

• Lithops targets 10% of the 2020 Specialty Market in Europe (0.95 B$)

• Main competitors: SAFT, A123, Toshiba, Hitachi

LIB Main Market Specialty Market (EU)

Specialty Market (non EU)

18 B$

4.5 B$

• Lithops involved in ongoing projects to

design customized high power LIB systems with:

• premium OEMs for xEV

• aerospace suppliers

• military suppliers

9/22/2015 Strictly Confidential - Property of Lithops 13

Customers acquisition

Shareholders

9/22/2015 Strictly Confidential - Property of Lithops 14

A 60 %

B 40%

• Lithops is controlled by Soimar, an Italian EPC (engineering, procurement, construction) company

A Soimar

B Private shareholders

• First equity round: € 5M

• Italian and EU grants: € 3M

Strategy

9/22/2015 Strictly Confidential - Property of Lithops 15

– Phase I • Installation of commercial cell assembly plant with 24 MWh per

year capacity to supply high power cells for specialty

• Overall investment € 13M (CAPEX + OPEX)

• Expected yearly net revenues € 12M at +12% EBITDA

– Phase II – 2018• Plant expansion to reach 150 MWh per year capacity by 2020 (10%

of specialty EU market)

• Overall investment € 60M

• Financed through an IPO

KIP – phase I

9/22/2015 Strictly Confidential - Property of Lithops 16

2016 2017 2018 2019 2020

TOTAL REVENUESK EURO 150.00 7,654.40 12,165.12 12,068.35 11,085.47

MWh 0.40 12.87 21.78 23.76 23.76

EBITDAK EURO -1,381.47 274.24 1,372.88 1,648.17 1,612.36

% ON SALES - 3.6% 11.3% 13.7% 14.5%

NET RESULTK EURO -1,878.97 -1,033.01 -116.48 143.30 58.15

CAPEXTANGIBLE ASSETS 6,500.00 2,250.00 400.00 300.00 300.00

INTANGIBLE ASSETS 100.00 60.00 20.00 20.00 20.00

TOTAL K EURO 6,600.00 2,310.00 420.00 320.00 320.00

SOURCES OF FINANCEEQUITY 10,000.00 500.00 0.00 0.00 0.00

DEBT 0.00 2,500.00 -500.00 -500.00 -500.00

CASH 31/12K EURO 477.16 369.62 1,045.45 2,810.34 4,659.78

HEADCOUNT 2016 2017 2018 2019 2020TOTAL 14 37 57 57 57

Milestones

9/22/2015 Strictly Confidential - Property of Lithops 17

2015

•Product qualification

•Production line design

•Customers acquisition

2016•Fundraising successufully completed

•Production line set-up

2017•Production start

•Rump-up

2018•Plant expansion

Lithium Power Unleashed

All information, data, ideas, layouts, drawings, schemes and their

combination thereof are proprietary and privileged information of

LITHOPS S.r.l. Reproduction, use and circulation are not allowed

without written consent of LITHOPS S.r.l.

9/22/2015 Strictly Confidential - Property of Lithops 18