“Revolutionizing electric mobility from the core“

©2019 Tizona Motors S.L. All rights reserved What is Tizona Motors? A small Spanish based technology hub led by two, self-considered “inventors” that accumulate 11 patents related to energy efficiency and electric mobility …. … that with the combination of a group of independent researches and entrepreneurs are willing to change the world through energy sustainability February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Tizona is about to revolutionise electric mobility… Future is TODAY Tizona Motors has patented a technology capable of adjusting input / output in way that it increases significantly the optimal range of electric motors, increasing significantly its output and efficiency. The technological solution works as a gear box integrated in the motor (but without the need for a mechanical gear box). The next generation of our technology is compatible with our previous ones, giving us a huge range of possibilities, which makes the opportunity set very promising February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved … Tizona is about to revolutionise electric mobility By maximising the optimal range of the electric motor, our patented technology presents a number of benefits: 1 Higher Range / Mileage The more Urban-like travel or inefficient drive the more efficiency gains Better Torque / Output Similar results employing smaller electric motors Extension of optimal range (Motor operating at high efficiency ratio) Better thermal management = better reliability and less energy loss Savings for extra cooling and keep the engines from overheating hence extending the life of the motor and reducing maintenance costs. Virtuous cycle (lower weight = higher range = lower costs per mile / watt) Lower costs of production through lower need for wiring, lower weight, less cooling needs, lower design complexity, etc. Explore the use of cheaper batteries (outside the Lithium – Ion space) Lower battery capacity required. For point to point transport – public transport and delivery vans- cheaper batteries (cheaper raw materials) could be used. 2 3 4 5 6 Septiembre2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Electric vehicles are not efficient in “real life” conditions Energy Efficiency: The biggest challenge in Electric Mobility Electric motor efficiency varies with speed and torque conditions Electric motors are highly efficient when operating at their optimal range (i.e. constant speed at optimal range conditions) However, in real life, Electric motors of EVs operate for the most part at suboptimal range, this is particularly true in urban travel which entails frequent stops / slow downs When not operating at optimal range, energy of the battery is lost as heat into the motor, which reduces the range (mileage) of the EV and affects negatively the life of the motor and the maintenance costs (in some cases requiring a cooling system for the motor). Why EV need cooling if is 90% efficient? February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Performance of Tizona vs conventional motors (1/3) Tests are done in “Engine Test Stands”, but real life conditions are more challenging. Our empiric tests show Tizona Motors engine excelling in inefficient driving conditions (i.e. Urban travel or multiple range – changes). February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Performance of Tizona vs conventional motors (2/3) Heating/Cooling test: Tizona vs. Conventional Motor (2) KW: Leading Electric bike Engine 2.5kw Earring Vs. Tizona Modified engine (original 0.5kw) MASS: Leading Electric bike Engine 11 kg Vs. 3.5 kg Tizona Modified engine with same workload (25 min at full power and 90 kg load) Tizona vs Leading Electric Bike Manufacturer (2) Measurement performed with the Thermography camera Testo 850I Independent test performed by Demac Motor, CCC: Vehicle Tested: Electric bike; x2.5 Mass required by a standard motor vs Tizona to reach similar output. Means battery energy waste as heat is at least 1/3 in Tizona February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Performance of Tizona vs conventional motors (3/3) Heating/Cooling test: Tizona vs. Conventional Motor (2) KW: Leading Electric bike Engine 2.5kw Earring Vs. Tizona Modified engine (original 0.5kw) MASS: Leading Electric bike Engine 11 kg Vs. 3.5 kg Tizona Modified engine with same workload (25 min at full power and 90 kg load) Higher energy efficiency means less heat is transferred to the motor Less heat translates into: Longer motor life Reduced risk of motor burnout in extreme conditions Less maintenance Virtually no need for cooling Tizona vs Leading Electric Bike Manufacturer (2) Measurement performed with the Thermography camera Testo 850I Independent test performed by Demac Motor, CCC: Vehicle Tested: Electric bike; February 2019 ©2019 Tizona Motors S.L. All rights reserved

Performance of Tizona´s range vs Tesla motors February 2019 ©2019 Tizona Motors S.L. All rights reserved

Tizona regeneration power Tizona solution doubles regeneration capacity Tizona motors improve the way current engines regenerate energy by twofold Lower gear box effect increases the braking power of the Tizona electric motor compared to standard electric motors: Increase power brake at same speed conditions This in turn increases the regeneration power of the electric motor back into the batteries With proliferation of “high-C” batteries in most EV nowadays, the regeneration power can be maximised in normal driving conditions x2 Tizona regeneration power February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Key benefits of Tizona solution: lower TCO Lower TCO: Tizona solution lowers significantly the Total Cost of Ownership (TCO) of an EV. This will create a virtuous cycle on EV demand globally, hence on the profitability of the sector. Tizona Solution improves significantly the 3 main criteria that prevent consumers from buying EVs: Range, Cost and Battery life 1 Increased efficiency via extension of optimal range, resulting in higher mileage Double regeneration capacity back to the batteries compared to standard motor – i.e. lower gear brake effect Lower heat accumulated in the motor, significantly increasing the life of the motor and eliminating the needs for ventilation / cooling Increased torque (depending on motor configuration – sports cars vs. utility) Lower cost of production and fast “Time to Market”: smaller engines can deliver higher torque 2 3 4 5 February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Tizona Motors solution is ready – Pipeline Promising Tizona Motors patented electric motor is more efficient than standard electric engines and is ready. Current Technology can be implemented and industrialised from scratch. Tizona Motors new solution (laboratory tests) will improve significantly our previous technologies: Tizona is developing a new technologically advanced electric engine that allows to regulate its configuration, both inlet and outlet, allowing to operate in the optimal regime at any time, consuming therefore less power, generating greater torque with lower cooling needs. It will also be able to adapt the outcome required to the different needs of the engine (more power, less consumption, more range, etc) It will be compatible with our previous technologies, opening a huge range of new possibilities and outcomes. February 2019 ©2019 Tizona Motors S.L. All rights reserved

R&D pipeline: Tizona Labs is improving its technology Tizona is developing a “multiple-range” electric motor to multiple the optimal ranges from 2 (current technology) to “n”. Early Lab tests show promising results further increasing energy efficiency. Example: engine with Max speed of 200 km/hr (graph for illustrative purposes, not in scale) 0 km/h 200 km/h Optimum Point Conventional Engine 1 optimum Point Tizona Engine 2 optimum Points Tizona Engine (Laboratory results) Multiple optimum Points Septiembre 2018 ©2018 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Tizona applications Electric cars Bikes Bicycles Public transportation Light trucks Industrial Vehicles Other applications February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Tizona Motors Solutions could change the world Today EV engines are oversized, creating inefficiencies across the entire value chain. Tizona Motors solution has the potential to change the world by saving billions of dollars globally across industries. Among the industries and areas positively impacted will be: Automotive, Utilities, Government (lower subsidies and lower healthcare costs) February 2019 ©2019 Tizona Motors S.L. All rights reserved

©2019 Tizona Motors S.L. All rights reserved Contact details: Juan.spottorno@tizonamotors.com (+34) 660416933 February 2019 ©2019 Tizona Motors S.L. All rights reserved