Greenland Technologies : Q1 2022 Earnings Presentation

FIRST QUARTER 2022 EARNINGS PRESENTATION

NASDAQ: GTEC

Disclaimer

This presentation contains the business information of Greenland Technologies Holding Limited (the "Company"). The information contained in the presentation has not been independently verified. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, appropriateness, accuracy, completeness or reliability of such information (opinions, expectations, projections and valuations contained herein). Any liability for any negligent misstatement in respect of the contents of, or any omission from, the presentation is hereby expressly excluded. It is not the intention to provide, and you may not rely on the presentation as providing, a complete or comprehensive analysis of Company's financial or trading position or prospects. Past performance is no guarantee of future performance. The information contained in the presentation should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. None of Company nor any of their respective affiliates, advisers, service providers, representatives, directors, officers and employees or any other person accepts any liability whatsoever (in negligence or otherwise) for the contents of the presentation, or for any loss however arising from any information contained in the presentation or otherwise arising in connection with the presentation.

The slides forming part of this presentation have been prepared for the purposes of providing background information about the Company. This presentation may contain, among other things, information and statistics relating to the transmission industry and related industries in the People's Republic of China ("China"). The Company may have derived such information and data from unofficial sources, without independent verification. Market data and production forecasts contained in this presentation have been obtained from various publicly available sources, product description, as well as from management's good faith estimates, which are derived from management's knowledge of the market, production and independent sources that management believes to be reliable. The Company cannot ensure you that such information is accurate or complete. You should not place undue reliance on statements in this presentation regarding the transmission or other related industries in the China.

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This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the Company's future financial position, business strategy, plans and objectives, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. The presentation contains statements that reflect Company's current beliefs and expectations about the future as of the respective dates indicated herein. These forward-looking statements are based on a number of assumptions about Company's operations and factors beyond Company's control and are subject to significant risks, contingencies and uncertainties, and accordingly, actual results may differ materially from these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors set forth in the Company's Reports on Form 10-K and Form 10-Q. Except as required by law, the Company assume no obligation to update or revise any forward-looking statements.

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Recent Developments and Business Highlights

Key Accomplishments Include:

• Secured Lease On Assembly Facility: Greenland has secured and fully executed a lease on its first assembly facility located in Baltimore County, Maryland. The site is over 54,000 sq ft and will produce over 500 electric heavy equipment units per year when fully operational. Maryland's Governor Larry Hogan noted, "As we continue to invest in new products and technologies, Greenland's vision and growth in electric industrial vehicles will fit in well with our state's innovative ecosystem."
• Launched of New HEVI Brand: Greenland has launched a new HEVI brand to encapsule its electric heavy industrial equipment division. This brand replaces Greenland Machinery and better exemplifies the culture and objective of introducing clean and sustainable alternatives to the industrial equipment industry.
• Passed Clean Cars Act of Maryland: Greenland supported the passing of HB1391 - Maryland Clean Cars Act of 2022 that will introduce consumer incentives for electric heavy industrial equipment purchases within the state effective July 1, 2022.

Key Statistics

Transmissions Delivered	41,902
Number of Employees	300+
Revenue (Q1 2022)	$29.3M
NET Income (Q1 2022)	$2.9M
Cash on Hand	$13.2M
Share Price	$4.89
Market Capitalization	$55.4M

As of March 31, 2022

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Electric Industrial Vehicles

Greenland will be a pioneer by introducing sustainable energy vehicles to the industrial vehicle market; a market dominated by heavy emission internal combustion engines (ICE)

	GEF-Series Lithium		GEL-1800 Lithium 1.8T		GEX-8000 Lithium 8.0T		GEL-5000 Lithium 5.0T
	Electric Forklifts		Electric Front Loader		Electric Excavator		Electric Front Loader
	Launched		Launched		Launched		Coming Q2 2022

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Site Expansion

Assembly Facility

Greenland announced its first assembly facility will be in Baltimore County, Maryland due to the state's strong logistical infrastructure, educated labor force and commitment to sustainable technology and manufacturing. This site represents the initial phase of the Company's major U.S. manufacturing expansion and is planned to go live Q3 2022.

The site will be ~54,000 sq ft and have the capability to assemble over 500 electric heavy equipment per year. Product produced at this site will be distributed to Greenland Experience Centers and channel partners for sale.

Experience Center

Greenland will establish Experience Centers to provide prospects with the opportunity to learn more about our technology and gets hands on demonstration of our product line. As a pioneer we believe this experience is important for the adoption of electrification in industrial heavy equipment.

The site will be ~20,000 sq ft and provide education, sales and service support to the local region.

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