LION E Mobility : Annual Financial Statements LION E-Mobility AG 2020

LION E-Mobility AG

6340 Baar

Balance sheet as of December 31		Appendix	2020	2020	2019	2019
				*		**
			EUR	CHF	EUR	CHF
Assets
Current assets
Cash and cash equivalents
Cash and cash equivalents			723.870	782.901	1.559.758	1.695.457
Total cash and cash equivalents			723.870	782.901	1.559.758	1.695.457
Other current receivables
Current account with governing bodies	2,3	17.845	19.301	13.129	14.271
Short-term loans to participations		2,3	-	-	62.677	68.130
Other current receivables from third parties		2.259	2.443	2.277	2.475
Total other current receivables			20.104	21.744	78.083	84.876
Total current assets			743.974	804.645	1.637.841	1.780.333
Fixed assets
Financial assets
Loans to participations		2,3	861.361	931.605	843.844	917.258
Total financial assets			861.361	931.605	843.844	917.258
Shareholdings
Shareholdings		2,1	9.785.007	10.582.974	7.693.721	8.363.075
Total shareholdings			9.785.007	10.582.974	7.693.721	8.363.075
Mobile property, plant and equipment
Movables			750	811	1.250	1.359
Total property, plant and equipment		750	811	1.250	1.359
Total fixed assets			10.647.118	11.515.390	8.538.815	9.281.692
Total assets			11.391.091	12.320.035	10.176.656	11.062.025
* converted at	1,0816	EUR/CHF
**converted at	1,0870	EUR/CHF

LION E-Mobility AG

6340 Baar

Balance sheet as of December 31		Appendix	2020	2020	2019	2019
					*		**
				EUR	CHF	EUR	CHF
Liabilities
Current liabilities
Trade accounts payable
Trade accounts payable				23.941	25.893	26.340	28.632
Total trade accounts payable				23.941	25.893	26.340	28.632
Other current liabilities
Other current liabilities to third parties			31.577	34.153	15.447	16.791
Other current liabilities to participations			51.362	55.551	-	-
Other current liabilities to governing bodies	2,4	5.602	6.059	253.776	275.855
Total other current liabilities				88.541	95.763	269.223	292.646
Deferred income
Deferred income			2,5	170.531	184.438	341.900	371.645
Total Deferred income				170.531	184.438	341.900	371.645
Total current liabilities				283.013	306.093	637.463	692.923
Total liabilities				283.013	306.093	637.463	692.923
Equity
Share capital				1.162.236	1.304.242	1.067.380	1.201.199
Total share capital				1.162.236	1.304.242	1.067.380	1.201.199
Statutory capital reserve
Capital contribution reserves			2,6	14.678.906	16.429.697	12.807.514	14.397.310
Other capital reserves				222.564	248.159	164.166	184.999
Total legal capital reserves				-	-421.870	-	-355.989
Total legal capital reserves				14.901.470	16.255.986	12.971.680	14.226.320
Accumulated losses
Statutory and resolution-based retained earnings (accumulated losses)	-4.441.068	-4.989.480	-3.390.184	-3.820.400
Annual loss				-455.760	-487.870	-1.050.884	-1.169.080
Total accumulated loss				-4.896.828	-5.477.350	-4.441.068	-4.989.480
Treasury shares			2,7	-58.800	-68.937	-58.800	-68.937
Total treasury shares				-58.800	-68.937	-58.800	-68.937
Total equity				11.108.078	12.013.942	9.539.192	10.369.102
Total liabilities				11.391.091	12.320.035	10.176.655	11.062.025
* converted at	1,0816	EUR/CHF
**converted at	1,0870	EUR/CHF

LION E-Mobility AG

6340 Baar

Income statement from 01.01.-31.12		Appendix	2020	2020	2019	2019
				*		**
			EUR	CHF	EUR	CHF
Other operating income			253.776	271.655	-	-
Total other operating income			253.776	271.655	-	-
Salary expenses
Other social security			2.000	2.141	212	236
Total personnel expenses			2.000	2.141	212	236
Other operating expenses
Legal advice			104.496	111.859	93.740	104.283
Management Consulting			233.078	249.499	218.194	242.735
Accounting & Administration & Rent			27.784	29.742	28.397	31.591
Stock exchange listing			55.023	58.900	73.074	81.293
Board of Directors			26.499	28.366	247.692	275.551
Tax consulting & auditing			145.066	155.286	39.402	43.834
Other operating expenses			117.706	125.999	249.269	277.305
Total other operating expenses		2,9	709.652	759.649	949.768	1.056.591
EBITDA			-457.876	-490.135	-949.980	-1.056.827
Depreciation
Depreciation of property, plant and equipment		500	535	834	928
Total depreciation and amortization			500	535	834	928
EBIT			-458.376	-490.670	-950.814	-1.057.755
Financial expenses			12.445	13.322	24.576	27.340
Financial income			23.013	24.634	26.626	29.621
Financial result			10.568	11.312	2.050	2.281
Non-operating, extraordinary expenses		2,10	-	-	101.815	113.266
Total non-operating, extraordinary
expenses			-	-	101.815	113.266
EBT			-447.808	-479.358	-1.050.579	-1.168.741
Direct taxes			7.952	8.512	305	339
Annual loss			-455.760	-487.870	-1.050.884	-1.169.080
* converted at	1,0705	EUR/CHF
**converted at	1,1124	EUR/CHF

LION E-Mobility AG

6340 Baar

Cash flow statement from 01.01. - 31.12.	2020	2020	2019	2019
		*		**
	EUR	CHF	EUR	CHF
Loss	-455.760	-487.870	-1.050.884	-1.169.080
"+/- Depreciation of financial assets and property, plant and equipment	500	535	834	928
"+/- Net financial result	-10.568	-11.312	-2.050	-2.281
"+/- Changes in other current receivables	57.978	62.063	65.194	70.866
"+/- Changes in prepaid expenses	-	-	21.599,00	23.478,00
"+/- Changes in trade accounts payable	-2.400	-2.569	-29.479	-32.044
"+/- Change in current liabilities	-190.429	-203.846	249.577	271.291
"+/- Changes in deferred income/accrued expenses	-171.698	-183.795	119.674	130.085
"+/- Interest and expenses paid	3.683	3.943	-9.731	-10.801
		-
TOTAL CASH INFLOW/OUTFLOW FROM OPERATING ACTIVITIES	-768.692	-822.850	-635.267	-717.559
		-
Payment of capital reserves of associated companies	-2.091.286	-2.238.625	-3.709.787	-4.032.539
Disbursement of loans to associated companies	0	-	-140.000	-152.180
TOTAL CASH INFLOW/OUTFLOW FROM INVESTMENT ACTIVITY	-2.091.286	-2.238.625	-3.849.787	-4.184.719
Proceeds from share capital	94.856	101.539	181.386	202.772
Proceeds from capital reserve and change in reserve for exchange rate differences	1.929.790	2.065.750	4.855.113	5.435.748
TOTAL CASH INFLOW/OUTFLOW FROM FINANCING ACTIVITIES	2.024.646	2.167.289	5.036.499	5.638.520
Exchange rate effect	-	-17.776	102.323	-61.745
NET CASH INFLOW	-835.333	-911.961	653.768	674.497
Cash and cash equivalents at the beginning of the year	1.559.758	1.695.457	905.990	1.020.960
Exchange rate differences on cash and cash equivalents	555	594
Cash and cash equivalents at the end of the year	723.870	782.901	1.559.758	1.695.457
Change in cash and cash equivalents	-835.333	-911.961	653.768	674.497

Appendix of Lion E-Mobility AG, Baar, as of 31.12.2020

1. Disclosures on the accounting policies applied in the financial statements

These annual financial statements have been prepared in accordance with the provisions of Swiss law, in particular the articles on commercial accounting and accounting of the Code of Obligations (Art. 957 to 962 CO). The amounts included in the financial statements were rounded to whole euro (EUR) and Swiss franc (CHF). Any differences between the amounts shown in separate items of the annual accounts and sums, intermediate totals or amounts in the notes on the accounts are due to rounding.

The preparation of financial statements requires the Board of Directors to make estimates and judgments that could affect the reported amounts of assets and liabilities and contingent liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. In each case, the Board of Directors decides at its own discretion on the utilization of existing write-downs, value adjustments and provisions more than what is operationally necessary within the framework of the principle of prudence.

As a consequence of the functional currency changeover on 1.1.2019, the annual financial statements in EUR have also been presented since the 2019 financial year, CHF values only serve as comparative values. The conversion of the annual financial statements from EUR to CHF took place as of 31.12.2020 as follows:

• Balance sheet items excl. equity with the FTA closing price as at 31.12.2020 of 1.0816 EUR/CHF (2019: 1.087 EUR/CHF),
• Profit and loss account with the FTA annual average rate of EUR 1,0705/CHF (2019: 1. 1124 EUR/CHF)
• Equity at historical prices

2. Information, breakdowns and explanatory notes on the balance sheet and profit and loss account items

2.1	Participations
Direct participation	31.12.2020	31.12.2019
		Share of voting	Share of voting
		rights/capital in %	rights/capital in
			%
Lion Smart GmbH, DE, Garching	100,00	100,00
LION E-Mobility North America, Inc., USA, Bronxville,
New York	100,00	100,00