romeo power spac investor presentation

At Romeo Power, we promise to treat your data with respect and will not share your information with any third party. 4 Values shown assuming $10 per RMG share for illustrative purposes; does not include impact of 7.6 and 4.6 million public and sponsor out - of - the - money warrants % / mm of shares, 45 $ 0 $ 200 $ 400 $ 600 0.0 x 3.0 x 6.0 x 9.0 x Jun-10 Dec-11 May-13 Nov-14 Apr-16 Oct-17 Mar-19 Sep-20 Tesla Share Price EV / Revenue Share Price EV / Revenue Median EV / Revenue 6.5 x 1.7 x 3Y Forward Revenue Multiple Current 6.5 x Median 3 1.7 x Years After De - SPAC T+3 T+4 T+5 Mgmt Projections 2023E 2024E 2025E Revenue $ 765 $ 1,156 $ 1,650 EBITDA $ 91 $ 196 $ 338 % Margin 12 % 17 % 20 % EV / Revenue 1.3 x 0.9 x 0.6 x EV / EBITDA 10.9 x 5.0 x 2.9 x Romeo Pro Forma Valuation Opportunistic entry point relative to future transportation and energy technology peers Market reference points Sources: Company materials, Capital IQ and Bloomberg as of September 30, 2020 1 Nikola Investor Presentation dated March 3, 2020. 3 Binding provision with MOQ over five - year period MOU, Prototype and Development Contracts Production Contracts, 21 BorgWarner Inc. is a global tier 1 automotive supplier with world - class manufacturing, engineering and technology development expertise BWA has annual revenue of approximately $ 10Bn, over 60 manufacturing facilities globally and deep relationships across the global vehicle customer universe and supply chain BWA has a rapidly growing alternative propulsion portfolio including industry - leading power electronics and EV drivetrain components Strategic Joint Venture with BorgWarner Enables acceleration of Romeo growth and significantly de - risks production execution ~$8.0Bn 1 Market Cap ~29,000 Employees 67 Locations in 19 Countries ~6,430 Patents Customer Diversity (Sales) 37% 35% 17% 11% Europe Americas China Asia (ex. You are cautioned not to place undue reliance upon any forward - looking statements. to Tender Shares UPDATED, Romeo RMO@alpha-ir.com. Truck Component Median 3 Truck OEM Median 4 At Deal 1 At Deal 1 At Deal 1 At IPO 2 At Deal 1 Truck OEM Median 4 $3.2 $2.1 $2.8 $1.4 $5.8 $1.2 $0.4 $0.5 $1.1 $84.8 $7.2 NA NA NA $196 $602 $286 $188 $600 $213 2024E Revenue ($Bn) / EBITDA ($mm) Consensus Estimates Truck Component Median 3 Consensus Estimates At Deal 1 At IPO 2 At Deal 1 $.1 At Deal 1 At Deal 1 At Deal 1 At Deal 1 NM $2.2, 49 Leading the Way Towards Electrification of the Global Transportation Industry Leader in Battery Technology Enabling Zero Emissions at Scale Leading the Charge in Green Energy Accessibility. Romeo Power will raise $384 million in the deal, which includes a $150 million PIPE investment from investors such as The Heritage Group and Republic . Neither RMGs nor Romeos independent auditors have studied, reviewed, compi led or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect ther eto for the purpose of this presentation. Design , Testing and Production Full service in - house enables redundant quality checks Energy Density 1 Denotes Area of IP Defined Pathway with Continuous Potential Improvements Until 2030 Romeo Has Created a Compelling Solution through its Differentiated Technology Moat Today 2022 2025 2027 2030 Energy density at pack level 200 220 240 260 280 300 320 340 360 380 400 150 170 190 210 230 250 270 290 310 330 Wh/l Wh/kg Today 235 wh/l 185 wh/kg 2022 245 wh/l 210 wh/kg 2025 315 wh/l 234 wh/kg 2027 350+ wh/l 270+ wh/kg 2030 400+ wh/l 320+ wh/kg High Silicone system Solid or Semi - Solid State system, 16 Attractive Growth Opportunity Leading Edge Technology Enables Rapid Growth Advanced and Superior Technology including: Thermals , Safety, BMS and Materials $310mm Revenue Secured Through Signed Contracts Enhanced Governance and De - Risked Operations through RMG Acquisition Corp. and PIPE Highly qualified board adding to governance of Company with ~$350mm cash proceeds to fund attractive growth opportunities $412mm $765mm $1,156mm $1,650mm 2022E 2023E 2024E 2025E 59% CAGR Strong Top Line Revenue Growth Potential Sustainable projected run - rate EBITDA Margin: +20%, 17 Romeos Evolution and Growth Trajectory Evolution of Romeo Demonstrating major milestone achievements and progress on vision in less than four years 2016 2017 2018 2019 2020 Romeos Future Los Angeles, CA Factory Pilot Line Mass Production Customer Trials Romeo Power founded by a team of ex - Tesla and SpaceX engineers Focused on EVs from Day 1; extensive R&D on thermal management and battery modular design On - Going Mission Fulfillment Execute on innovation portfolio and continue disciplined R&D to maintain and widen technology lead Deliver and grow signed contracts Strengthen partnerships with the most innovative industry leading and developing cell providers Expand manufacturing footprint Beta products developed for electric CV, power sports I nvests $ 50mm into Romeo Power and forms JV Hermes battery launched for CV and high performance PV Additional R&D into adjacent areas including consumer and stationary storage applications Merger with RMG Partnership with RMG and new public market investors Invests into Romeo Power and forms Strategic Partnership for Responsible Environmental Controls, 18 Romeo is Ideally Situated to Lead Electrification of the Global Commercial Vehicles Market and Opportunistically M ove Into Adjacent Energy Technology Markets Attractive and Large Addressable Market Opportunity 1 Includes Heavy, Medium and Light commercial vehicles and Bus vehicles unit sold in 2019; assumes addressable content per vehi cle as per company estimates. Larger Packs 1 MWh packs deliver the best BEV solution for long - haul 4. TENDER REMINDER FAQ for Romeo Romeo Power ( RMO), a start-up making battery packs for electric trucks and buses, said in a preliminary earnings release that it generated $9 million in revenue in 2020 and that it expects. Any and all trademarks and trade names referred to in this presentation are the property of their respective owners. to Tender Shares. This presentation (the "presentation") is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, debt or other financial instruments of RMG Acquisition Corp. ("RMG") or Romeo Systems, Inc. ("Romeo") or any of their respective affiliates. Romeo Power is still a fairly new company having only been founded in 2016. Completes Exchange Offer to Acquire Romeo Power Common Stock, Romeo Participants in the Solicitation RMG and its directors and officers may be deemed participants in the solicitation of proxies of RMG stockholders in connectio n w ith the Business Combination. Romeo does develop more than one module in - house With Just One Highly Configurable Module Romeo Can Create a Variety of Unique Packs Serving a Wide Range of Growing End Markets 1 Creating Massive Deployment Leverage at Every Level Orion V4 Orion V3 Orion V2 Orion V1 Flat V2 Flat 1 Yard Truck, 31 Battery Management System (BMS) Among the most flexible and configurable systems in the market today 4 Romeos BMS offers a complete solution for monitoring and controlling complex battery systems for automotive applications Voltage, current, temperature, isolation measurements Operating modes, contactor, pre - charge and charge control Safety measures isolation monitoring, high voltage interlock, manual service disconnect, hardware and software protections Advanced battery control algorithms Advanced diagnostics and prognostics Field configurability for fast and convenient integration Support over - the - air updates Cybersecurity Automotive ISO 26262 compliant 1 Others only measure voltage, temperature and current, leading to increased buffers and cost Romeo utilizes a series of sophisticated real - time onboard models as a result of proprietary testing and algorithm developments: More accurate remaining range estimation More accurate battery health estimation Enables safer and faster charging Value Proposition Advanced Algorithms Built on highly configurable platform Self - diagnostics Supports wide variety of architectures Operates with virtually every vehicle engine control unit Proven exceptional real world performance Low cost and robust Scalable from 48V to 1000V Faster time to market Vehicle Supervisory Controller On - board Advanced M odels Features Pack 1 ISO 26262 compliance is not yet complete, but expected by Q2 2021, 32 State - of - the - Art Production Facility In - house design, manufacturing and testing capabilities for Romeo North America 113,000 ft 2 North American Headquarters, strategically located in Los Angeles to attract the best industry talent Deliberately designed to allow for cost effective expansion of productions lines to 7 GWh / year capability All key battery development labs in - house, including: Reliability , Testing & Validation Lab Battery Cell Test Lab (Form Factor Agnostic) Battery Safety & Test Facility Section Battery Management Systems Engineering IS09001 Certified & UL2580 Certified 1 Module Lines Pack Lines Module Lines Pack Lines Electrical Automotive Test Lab Mechanical Automotive Test Lab Safety and Destruction Test Lab High Voltage Development Area Cell Technology Lab Thermal Engineering Lab BMS / Firmware Lab Battery Algorithms Lab End of Line Testing While many competitors outsource most testing and some assembly, Romeos complete in - house solution - set allows the company to protect IP, ensure quality control and accelerate development and production Site Highlights Romeo Facility Overview Indicates Function Typically Outsourced by Competitors Production Facility Outside of Los Angeles Materials In Product Out 1 UL 2580 Certified BR Module & Thunder pack, 33 Innovation Roadmap Significant strides have been and continue to be made in order to position Romeo as a breakaway leader 2021 2022 2023 Mass Production of Orion Pack Launch Gen 2 BMS with ISO 26262 Qualification Achieve Extreme Fast Charge of 15 Minutes Double Power Availability Develop Advanced Vapor Phase Change Cooling Develop Gen 3 BMS Innovation and the Mindset of Consistently Improving Have Been at the Forefront of Romeos Business, Allowing the Company to Achieve Milestones Far Ahead of its Competitors Romeo has developed a plan to execute over the next three years in product advancements and innovations designed to achieve n ew ground - breaking products, further its competitive advantage and unlock significant future growth potential 2016 2017 2018 2019 2020 Founded Created Passive Cooling Prototype Developed Low Voltage 48V System Developed and Assembled Production Line Conducted Microlaser Welding Trials Prototyped Highest Energy Density Active Cooling Module (Hermes) Demonstrated Materials Combination and Design for 1,000V Dielectric Withstand and Safety Launched Gen 1 BMS Built and Delivered 3,000 Hermes Modules for Class 7/8 Truck Fleet Evaluation Doubled Speed of Laser Weld Developed Machine Learning Algorithms for Fleet Battery Management Prototyped Flat Packs Achieved Fast Charge of 20 Minutes, 34 Among the Highest Energy Density in the Market Romeo is among the leaders in gravimetric energy density Volumetric ( Wh/l) Gravimetric (Wh/kg) Gravimetric and Volumetric Energy D ensity (Pack) 1 Sources: Roland Berger, Management Estimates 1 Proterra battery pack: energy density included is the maximum value specified by Proterra; Akasol 2021: gravimetric energy de nsi ty included is the maximum value specified by Akasol; BMZ: Module - level energy density adjusted by 10% to estimate pack level en ergy density . 6/15/22. According to Romeo Power, its solution will deliver a battery with a 25% energy density advantage. Romeo Power for an online investor presentation and live Q&A discussionregarding their proposed merger Date: Tuesday, December 15th Time: 1:00 p.m. (Eastern Time) * Management will be taking questions from the audience * Share this: LinkedIn Twitter Print Email ByKristi Marvin Search Cart Archives After submitting your request, you will receive an activation email to the requested email address. Battery maker Romeo Power has agreed to merge with blank-check company RMG Acquisition in a deal that values the combined business at $1.33 billion. RMG and Romeo reserve the right to withdraw or amend for any reason any offering and to reject any Subscription Agreement for any reason. 10/17/22. Information on acquisition, funding, investors, and executives for Romeo Power. In this presentation, certain of the above - mentioned proj ected information has been provided for purposes of providing comparisons with historical data. Demonstrated strengths in strategic partnerships . 9/14/22. Securities registration termination. Romeo Power merges with SPAC. The communication of this presentation is restricted by law; it is not intended for di str ibution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. The merger has it taking over RMG Acquisition while also changing RMG stock to RMO stock. 2024E Rev. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Joe Caminiti or Ashley Gruenberg Summary. Investor Presentation Q3 FY23. At Romeo Power, we promise to treat your data with respect and will not share your information with any third party. BWA Minority Equity Stake, 23 Strategic Partnership with Heritage for Responsible Environmental Controls Heritage is a leader in the environmental, waste management and recycling services industry with an extensive history of managing / recycling all battery types for thousands of customers Focus on sustainability and reuse applications Deep expertise in materials and environmental solutions The Heritage Group and affiliates also owns 31.6% of Heritage Crystal Clean ( NASDAQ:HCCI ) Investment in Romeo The Heritage Group was an early investor in Romeo and has been actively supporting the growth of the business Fleet Conversion Contract Romeo will work with leading BEV OEMs to convert 500 diesel trucks owned by Heritage and its affiliates to BEV 125 trucks per year 2021 - 2025 Total estimated product sales of $ 54mm Projected ROI of 50% and IRR of 26% Strategic Partnership with Revenue Share Together Romeo and Heritage are developing a battery reuse and recycling facility with capacity to process Romeos lithium ion batteries at the end of life. Download PDF . EBITDA is not prepared in accordance with acc ounting principles generally accepted in the United States (GAAP) and may be different from non - GAAP financial measures used by other companies. Romeo Power - Events & Presentations Events & Presentations Romeo Stockholders: Click HERE for the Latest Information About the Tender Offer for the Nikola Transaction Upcoming Events Featured Presentation Archived Events & Presentations On . You must click the activation link in order to complete your subscription. 3/25/22. RMO@alpha-ir.com. Romeo Power is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. BWA holds 60% JV equity ownership to Romeos 40% Cements partnership with the worlds preeminent vehicle supplier to accelerate Romeos global growth and bolsters operational execution BWA Commercial Relationship BWA provides design, engineering, manufacturing, sales and services expertise to Romeo and to the Romeo / BWA JV Provides flexibility for both entities to rapidly scale operations in highly capital efficient manner while maintaining high levels of product quality Romeo Partnership with BorgWarner Significantly De - Risks Production Execution 1 Market cap as of September 30, 2020, 22 Strategic Joint Venture with BorgWarner (Contd) Aligned key objectives and responsibilities within the JV JV Ownership Contribution of Technology, Services and Expertise JV Ownership Contribution of Services and Expertise Operational Responsibilities Design and develop new technology >> Romeo CTO is Chief Engineer Support customer acquisition efforts >> technical sales, costing, quoting Guide supplier selection / qualification >> vet potential suppliers, conduct site visits and quality audits Perform Application Engineering Services / Engineering Studies Operational assets / personnel : Chief Engineer, Technical Sales, Design Engineers; Testing Resources (Cell Characterization, Safety, Reliability, and Validation) Contributions / ongoing support of JV: R&D in JV Field of Use Romeo Power Purview within the JV Contributions / ongoing support of JV Space in existing manufacturing facilities worldwide Global supply chain and supplier quality organization Leveraging vendor base for best material costs Manufacturing engineering and automotive quality systems expertise Access to existing OEM customers for cross - selling Back office support for JV operations BorgWarner Responsibilities Operational Responsibilities Produce Romeo products on global scale Lead sales , BD, and account management for LV globally and CV markets outside North America Provide in region applications engineering support and field support Operational assets / personnel : General Manager, EU Sales Team, Global Supply Chain Management, Production Expertise JV Responsibilities Joint Venture Light Vehicles & CVs < 20k lbs CVs > 20k lbs outside N.A. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide va riety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. We obtained this information and statistics from third - party sources, including reports by market research firms and company filings. Corporate Overview. These projections are for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. Wh en used in this presentation, words such as pro forma, anticipate, believe, continue, could, estimate, expect, intend, may, might, plan, possible, potential, predict, project, should, strive, w oul d and similar expressions may identify forward - looking statements, but the absence of these words does not mean that a statement is not forward - looking. 312-445-2870 Securities, Business Combinations, SC149D: Statement of Ownership: Solicitation. Non - GAAP Financial Measures This presentation includes certain non - GAAP financial measures, including EBITDA. efficient development of new product offerings WE HAVE OPTIMIZED FOR SPACE EFFICIENCY Market leading interior space relative to vehicle footprint with the industry's first true steer-by-wire platform coming to market MANUFACTURABILITY IS BUILT INTO OUR DESIGNS . You can sign up for additional alert options at any time. Investor Presentation Q1 FY23. Aggregate value based on current trading value ; revenue and EBITDA estimates based on Romeo September 2020 Investor Presentation 2. Romeo Power is has a solution that targets three of the common obstacles to EV battery adoption. This presentation does not purport to contain all of the information that may be required to evaluate a possible investment decision with respect to RMG, and does not constitute investment, tax or legal adv ice . Power Reminds Stockholders to Tender Shares for Nikola Transaction Ahead of October 12, 2022 Deadline, Nikola To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 11/30/22. Through its suite of advanced hardware, combined with its innovative battery management system, Romeo Power delivers the safety, performance and reliability its customers need to succeed. Romeo has ~150 employees and more than 60 battery-specific engineers and a 113,000 square foot manufacturing facility in Los Angeles, California. The first of these is energy density which determines how far a vehicle will go on a single charge. The transaction values the company at $1. 4 AN OPPORTUNITY TO INVEST IN LEADING TECHNOLOGY POWERING THE COMMERCIAL VEHICLE ELECTRIFICATION REVOLUTION We are A Leader in Battery Technology with Industry Leading Hardware , Software and Thermal Management Attractive and Large Commercial Vehicle TAM World Class Partnerships and Strategic Players Fully Produced in North America Blue Chip Customer Base, 5 Transaction Summary Romeo and RMG combination to publicly list a dynamic, innovative battery technology company Romeo Team Proposed Transaction Overview Romeo Systems, Inc. (Romeo ) is an industry leader in the design and manufacturing of energy - dense lithium - ion ( Li - ion) battery packs and modules, focused on the electrification of commercial vehicles globally Romeo to combine with RMG Acquisition Corp. ( RMG, NYSE : RMG), a publicly listed special purpose acquisition company with ~$ 234mm cash held in trust 1 and a focus on disruptive technologies in the energy and industrial areas Robert Mancini, CEO, and Phil Kassin, President and COO, from RMG to join Romeo Board, adding their substantial business, financial, legal and public board experience to the governance and operations of the company Transaction reflects a $900mm pre - money equity valuation for Romeo, representing a highly attractive opportunity to invest in a leader in commercial vehicle electrification Romeo to receive ~$340mm cash at closing to fund its attractive growth opportunities 2 Romeo will use proceeds from the Transaction as growth capital primarily to fund expansion of production capacity; working capital to support increasing production demand; and substantial R&D activities devoted to developing the next generation of battery systems technology All - primary transactio n; existing Romeo shareholders, including management and strategic partner BorgWarner (BWA), are rolling virtually 100 % of their equity and collectively are expected to own 67% of the pro forma company at closing $1.3Bn post - money Equity Value $993mm Enterprise Value, with no material debt outstanding at closing Represents 1.3x EV / 2023E Revenue, a highly attractive entry multiple relative to peer group Robert Mancini Chief Executive Officer Lauren Webb Chief Financial Officer 1 As of July 31, 2020. By providing your email address below, you are providing consent to Romeo Power to send you the requested Investor Email Alert updates. We do not intend our use or display of other companies tr ademarks or trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies. At Romeo Power, we promise to treat your data with respect and will not share your information with any third party. Download PDF . 2 Binding provision with Minimum Order Quantity (MOQ) over three - year period. Lion's current development pipeline . The vote date for the merger. RMG and Romeo believe that the use of this non - GAAP financial measure prov ides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing Romeos financial measures with other similar companies. If you experience any issues with this process, please contact us for further assistance. . Entrepreneurial spirit with experience in corporate development, institutional relations and industry-led initiatives. 2 Important Notice This presentation (the "presentation") is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, debt or other financial instruments of RMG Acquisition Corp. ("RMG") or Romeo Systems, Inc. ("Romeo") or any of their respective The SPAC has big plans in the commercial EV battery technology market and a long list of potential customers . Download PDF . 2 Truck Component Companies assumes median of Cummins , Allison, Meritor and Dana (T+3) (T+4) Tesla Today Nikola Today 2021E EV OEM 10.9x 5.1x '23E '24E 114.3x 17.1x NM NM NM 9.6x 7.4x Truck Component Median 2 Truck OEM Median 1 Hyliion at Deal Lordstown at Deal Tesla at IPO Nikola at Deal Canoo at Deal QuantumScape at Deal NM 15.6x 7.9x 5.4x 5.1x 1.8x 3.2x 1.6x NM 9.8x NM NM '23E '24E '13E '14E '23E '24E '23E '24E '23E '24E '23E '24E, 48 17% 29% 13% 13% 10% NM NM 7% NM 18% 16% 12% 10% 3% 14% 13% Represents 2022E Margins 228% 147% 108% 87% 85% NA NA NA 68% NM 220% 61% 54% 35% 27% 7% Operational Benchmarking Revenue 2022E - 2024E CAGR 2024E EBITDA Margin Sources: Company materials, Capital IQ as of September 30, 2020 1 Figures represent CAGRs and margins based on company projections as publicly disclosed in investor presentations 2 Based off consensus research estimates at IPO, Capital IQ as of March 3, 2011 3 Truck Component Companies assumes median of Cummins , Allison, Meritor and Dana 4 Truck OEM Companies include Volvo, Paccar, Traton and Navistar .

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