Balyo : Investor Presentation

AUTONOMOUS VEHICLES

FOR LOAD & PALLET MOVEMENT

Corporate Presentation

October 2020

COMPANY INTRODUCTION

Convert material handling to Autonomy

A MAJOR CHALLENGE FOR INTRALOGISTICS

More than 5 million

Material handling vehicles deployed around the world

€33 billion

Annual global expenditures on material handling

More than 80%

Of handling vehicles operating costs related to driver costs

€200 billion

Annual global expenditures on pallet handling

$380 million

Estimated annual expenditures on material handling of a major client

Less than 1% of pallets moved today by robots !

Company estimates

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BALYO

OUR VISION

FOCUS HUMANS ON CREATIVE JOBS

OUR MISSION

DESIGN, SALE AND OPERATE SIMPLE AND AFFORDABLE ROBOTS, SYSTEMS & SERVICES GLOBALLY

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BALYO

Founded in 2006

Software & Systems company

Locations in Boston, Paris, Singapore & China

Industrial & commercial partnerships with Linde (KION) & Hyster-Yale Group since 2014 respectively 2015

Commercial partnership with 20+ systems integrators starting 2020

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BALYO: a disruptive solution vs historical players

AUTOMATED GUIDED VEHICLES		ROBOTS
(AGV)
Custom-built vehicles						Standard vehicles
Navigation requiring additional						Geo-navigation
infrastructure	Low volumes	Scalable solution	Quick integration
High costs and long-time	Low gross margin	High gross margin	with limited resources
integration
					Flexibility
Non-evolutive solution						Simple, global
High maintenance						maintenance

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2 strategic alliances

STANDARD FORKLIFTS FOR SERVICEABILITY - WORLDWIDE

	NO.2 worldwide	NO.5 worldwide
	NO.1 in Europe	NO.2 in the United States
	NO.3 in Asia	MORE THAN 6,500 employees
Groupe	MORE THAN 33,000 employees	€3.2 billion revenue in 2018
€8.0 billion revenue in 2018

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Market structure: Key forklift robots players

SCALABILITY, MAINTAINABILITY & STANDARDIZATION

Commercial and technical

scalability/maintainability

BALYO ROBOTS

AGV with OEM

AGV

Standardization

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BALYO at the forefront of innovation

AMBITIOUS R&D STRATEGY

21 M€		25% of 2019 revenues		50 patents

allocated in R&D since 2015	allocated in R&D, through	granted since 2016
	high value added projects	including 15 in 2019

Energy

Fleet

Communication

Remote

Localization

Safety

Perception

Installation tools

Navigation

monitoring &

Management

Management

Management

control

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BENEFITS

Partners' network

Mass produced standard trucks & long term spare parts availability. Easy to maintain.

No infrastructure required

Dual mode, Manual & Automatic

Global Sales & Local Services

Standard &

affordable robots

Easy & fast install

Simple to use &

Flexible

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Business development

100+ CLIENTS, 250+ SITES use 600+ ROBOTS in 30 COUNTRIES over 4 CONTINENTS

Our sales targets : Tier 1, in 3 key sectors and 3 geographic areas, some client examples

AUTOMOTIVE

LOGISTICS

CONSUMER GOODS

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An experienced management team

Pascal

RIALLAND

CEO

Alec		Philipp		Frank
		CHUFFART
LAFOURCADE		SCHMIDT-
		CFO
COO		HOLZMANN
		CSO

168

employees in 5 countries(1)

(1) as of June 30, 2020

Workforce breakdown by Region (1)

(% of total workforce)

APAC

11EMEA 138

AMERICAS 19

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BALYO - 2020 HYR

Sales for H1 2020: a transitional year

• Backlog & Order intakes (€m)

14,1
	12,6
		11,7
3,8		4,6
	2,9
Q4 2019	Q1 2020	Q2 2020

+	Revenue* (€m)
		Q1
	12,1	Q2
		H1
		8,7
	6,4
	5,7	5,6
	3,1
	2019	2020

* excluding the restatement related to the inclusion of the IFRS2 charge relative to the allocation of BSAs

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2020 Half-year results

IFRS (€M)	S1 2019	S1 2020
Sales revenue	12,14	8,67
IFRS 2 charge related to the Amazon	(0,69)	(0,01)
BSAs
Sales revenue reported	11,45	8,67
COGS	-9,71	-8,33
Gross margin	1,74	0,33
Margin (%)	15%	4%
R&D	-2,70	-2,39
Sales & Marketing	-3,27	-1,26
G&A	-3,55	-3,09
Share-based payment	-0,16	-0,06
Operating profit	-7,94	-6,46
Financial result	-0,13	-0,24
Net result	-8,08	-6,69

1

Gross margin level (4% before the IFRS 2

restatement) is due to the recognition of warranty costs of €1.1m

2

Decrease in operating expenses are mainly due to a decrease in payroll in line with the reduction of employees and a reduction in travel expenses given the health context

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Cash Flow Statements as of June 30, 2020

IFRS (€k)	Dec. 31, 2019	June 30, 2020	1
Cash used for operating activities	-7,927	-2,303
Cash used for investing activities	-0,727	-0,0289
Cash provided for financing activities	-1,727	6,473
Change in cash	-10,371	4,136
Cash & cash equivalents	4,557	8,692

Financing activites are linked to state-guaranteedloan (PGE) for which €6.5 million have been received over the period on a total amount of €9.5

million

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Balance sheet as of June 30, 2020

IFRS (€k)	Dec. 31, 2019	Jun. 30, 2020	1
	Net debt as of June 30, 2020:
				€3,7 million
Non-current assets	8,204	7,675
Inventories	3,642	2,893
Trade accounts receivables	12,691	11,731	2
	Non-current Financial debt mainly includes:
Other receivables	3,898	3,257		•	Debt related to rental obligations (IFRS16)
				•	Repayable advances
Cash & cash equivalents	4,557	8,718
Total assets	32,991	34,275		Current Financial debt mainly includes:
				•	State-guaranteed loan (€6,390k)
				•	Debt related to rental obligations (IFRS16)
Shareholders' equity	5,286	(926)
				•	Repayable advances
Non-current financial debt	4,607	4,309
Current Financial debt	1,257	8,158	3
Trade notes and accounts payables	9,950	8,771		Other current liabilities mainly include:
	• Customer advances and deposits received
Tax and employee-related payables	3,147	3,750		•	Deferred revenues
Other current liabilities	8,353	9,260
Total liabilities	32,991	34,275

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BALYO - COMMERCIAL STRATEGY

3 business lines for 2020 and beyond

Business line 1	Business line 2	Business line 3
Strengthening	Sales of robotic solutions	Piloting pallet-movement
the two OEM partnerships
to intralogistics integrators	"as a service" offering
LMH & HY

Improved industrial and	Wider market reach	Disruptive market approach
commercial efficiency	Adapt to the APAC market	to scale up from 2021
Empower commissioning by	Complementarity with OEM	No CAR for Clients
OEM
	Reduce commercial risk	All-inclusive model

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Piloting of pallet movement "as a service"

Unique response to the three main constraints to robotization of material handling

• ELIMINATE the need for capital expenditure for customers with pay-per-use billing
• INCREASE the performance of robotic solutions: integrating a tele-operator monitoring the system 24/7 and capable of taking control of the robot remotely when needed
• SIMPLIFY technology adoption: packaged and operated solution for customers missing specific technical resources

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From Manual to Autonomy to Service

Manual Forklifts

Autonomous Forklifts

Pallet-movement as a Service

•	Significant payroll	•	Lowered payroll expenditure	•	No/limited upfront expenditure
	expenditure	• Forklift Robots fleet operated by	•	Fork-lift robots fleet operated remotely
• Forklift trucks fleet operated	•	clients	•	by MoWo
	by clients	ROI < 2 years	All included, simple
•	Very high OPEX	•	Replace OPEX with CAPEX	•	Pay-per-use, immediate ROI
•	Variable productivity			•	No CAPEX, reduced OPEX

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THE « DRIVEN BY BALYO » TECHNOLOGY

TECHNOLOGY

	Manual Truck		Driverless kit	Robotic Truck
•	Robust	•	Infrastructure free	• Dual driving modes :
•	Affordable	•	Integrated design	Automatic & Manual
•	Parts & Services	•	Adaptable to	• Global & Local service
	available worldwide		changes

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INFRASTRUCTURE FREE NAVIGATION

1. 2D MAPPING	2. MAP CLEAN-UP	3. ROUTES
& PICK/DROP

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INTEGRATION

#SCALABLE

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ROBOT MANAGER

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SAFETY & SPEED

•	Front Safety PLD	• Unique front	•	Side Safety PLD	•	Back Safety PLD	•	Curtain Detection
•	Speed up to 2m/s	safety adaptation	•	Speed up to	•	Speed up to	• Speed up to 2m/s
VNA up to 2,2m/s	in turns		0,45m/s		0,8m/s	•	Stop&Go
•	Slow/Stop zones		•	Slow/Stop zones	VNA up to 2,2m/s	•	SW detection
•	Stop&Go		•	Stop&Go	•	Slow/Stop zones
•	SW detection		•	SW detection	•	Stop&Go
•	HW safety		•	HW safety	•	SW detection
					•	HW safety

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PRODUCTS & APPLICATIONS

A COMPLETE & GLOBAL ROBOT RANGE

Pallet truck

CB Stacker

Stacker

CB Stacker

Reach Truck

Reach Truck

VNA

Tugger / TractorStacker

LOW LIFT: up to 1,7m / 3,5t - towing 5t	MIDDLE LIFT : up to 4m /	HIGH LIFT : up to 12m / 1,6t
	2t

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ROBOT CAPACITY: WEIGHT & HEIGHT

3,5t

MPE 080 Driven by Balyo

2,5t

MO25 Driven by

Balyo

3t

T-MATIC

Pallet trucks

7t

MO70 Driven by

Balyo

5t

P-MATIC

Tuggers

2t	1,5t
4m	1,7m

L-MATIC HD	MC Driven by Balyo

1,2t	1,6t	1,6t	1,5t
12m
1,7m	4,2m	11m
L-MATIC	L-MATIC AC	R-MATIC	K-MATIC
Stackers	CB Stackers	Reach Truck	VNA

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Robot applications overview

CONVEYORS	END OF LINE	STACKING
INTERFACE	& STORAGE

MACHINES INTERFACE

LOGISTICS TRAIN

HIGH STORAGE

VERY HIGH STORAGE

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MOST ADVANCED IN-RACK APPLICATION RANGE

Standard		Very narrow		Gravity		Canteliver		Shuttle
Rack (2.9m)		aisles		rack			rack

Mobile

Block

Double deep

Drive in

Push

rack

storage

back

AVAILABLE

SOON

NO GO

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NEW IN 2020: AMR « Driven by Balyo »

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