Energica Motor Company S.p.A. Presentation

July-August 2017

1 The CRP Group – since 1970

• The Group is nowadays made up of specialized companies: CRP Meccanica, CRP Technology, CRP Service plus its US-based partner CRP USA. In 2010 CRP Group decided to invest in the new field of sustainable vehicles by creating Energica.

• With more than 45 years of experience in the world of F1 and more than 20 years of experience in Additive Manufacturing, CRP Group is distinguished by its know-how in specific application fields including but not limited to: automotive and motorsports, design, aerospace, UAVs, marine, entertainment, defense.

• Innovation, investments in research and development, and strategic foresight are the principles that the Group has shared throughout its history.

• The CRP story began in 1970. After he gained experience in several mechanical and high precision areas, Roberto Cevolini established his own company for high precision CNC machining in the motorsports sector.

2 CRP Group The CRP Group

“Companies working in F1 field have something different in their DNA”

3 CRP Group The CRP Group – since 1996

• CRP is a pioneer in Additive Manufacturing, having started in 1996 when it was almost unknown in Italy. In the Nineties 3D printing technology was known as Rapid Prototyping: it was a fast, cost effective way to realize new design concepts; it allowed us to create perfect 3D shapes.

• The studies carried out by CRP Technology from 1996 have changed the scenario of Rapid Prototyping introducing a new concept of Additive Manufacturing and 3D Printing: Windform 3D Printing materials have allowed the technology of selective laser sintering (SLS) in order to realize high performing parts for wind tunnel applications as well as finished and functional parts.

• Windform’s mechanical properties made them a layer above 3D Printing, leading from Rapid Prototyping to Additive Manufacturing. The birth and launch of Windform materials has been an important turning point worldwide.

• It occurred in 2005, when we created, produced and launched on the market Windform XT, composite polyamide based material for SLS, the first carbon fiber filled ever.

4 CRP Group The CRP Group – CRP Racing 2006-2010

• CRP Racing was founded in December 2006, as CRP Technology’s Racing Department. CRP Racing’s goal was to become the main point of reference in its market for quality, speed, reliability, ability and service.

• CRP Racing became the leading two stroke tuning firm in Italy, winning the Road Racing Italian Championship and Honda Trophy in 2007 and 2009.

The changeover to green

• In 2009 we decided to bring the “CRP Method” to a new project: the eCRP was the first e-racer to come out of Italy. The CRP’s electric program started

5 CRP Group “Passion allows us to endure bitterness and waivers that ambition would not justify in any way” Enzo 6 CRP Group “If you can dream it you can do it” Walt Disney

7 Energica Motor Company S.p.A. Energica Motor Company – since 2012

• Energica was born from an entrepreneurial vision of Cevolini’ family between 2008 and 2009. During those years, CRP Group decided to start looking at what they thought was the future, like the electric vehicles.

• In 2009, CRP Group took the opportunity to develop a fully electric racing motorcycle and so they started with the eCRP project. CRP made two years of racing that are served primarily as a technology scouting, then in 2011 they started working on the road version, Energica.

• The team started to fit the needs of a streetbike with the new electric technology and the differences of the racing market, from here they arrived at the new version of Energica Ego.

• On the design of the bike has played a key role the CRP Group's know-how because it is only thanks to the CRP technologies that the team were able to make a project so important in such a short time.

• Projects that would normally take 4-5-6 years in the big companies in our case were made possible thanks to the CRP technologies developed for the aerospace and F1. This allowed Energica to shorten the time to market and to shorten the timing of the research, also containing costs.

8 Energica Motor Company S.p.A. Energica Motor Company

From nothing to everything. The creation process is something inexplicable. The idea has become a form, a chassis, an engine. The sketch on white paper is now a real product.

• Energica Motor Company was officially founded in 2014 with the aim of creating the first high-powered electric motorcycles.

• After two years of racing, the eCRP team started working on the road version: Energica.

• Today, after test and homologations, Energica motorcycles are on sales worldwide. Since January 2016 Energica is publicly listed on AIM Milan Stock Exchange Market, to scale the market and start global production.

Products ENERGICA EGO is the first model of EMC, it is the first Italian high-performing electric sportbike. ENERGICA EVA the streetfighter model.

9 Energica Motor Company S.p.A. Energica Milestones

Start of the Electric motorcycle project (within CRP Group) • Energica new headquarters • Energica EGO launch

2009 2010 2011 2013 2014 2015 2016

eCRP – the electric racebike First participation at • Establishment of wins European Electric EICMA* Energica Motor Championship Company Srl Location • Worldwide Demo Tour (USA+ EU+ MC) Parma

Modena

ENERGICA • Stock Market • Opening Galleria Bologna Energica (San Francisco)

10 Energica Motor Company S.p.A. Energica Milestones - 2016

• Launch of Energica Eva • Preparation of product Industrialization • US and European Homologation • Energica Eva Ride Experience • Energica New Headquarters • Opening of branded display halls • News sales strategy • Unveiling Esse Esse 9 prototype • Sales Network Growth Feb/March April May June July August Sept/Oct. Nov/Dec

Sales Ego pre- Moving in the new Start production Deliveries Eva Opening Galleria New dealers New sales Eicma 2016 – series headquarters Energica in San (Spain) strategies (Value The International Bay Area Grand opening – Francisco Plan) Motorcycling Fair USA market Energica Eva One-day trip LA- new factory strategy Ride Experience SF Energica Sales Network Europe Growth Goodwood Festival California Sales License

11 Energica Motor Company S.p.A. Energica Milestones - 2017

• Stefano Benatti new US General Manager • Energica joins CharIN e.v. to promote CCS technology • Unveiling first Energica Fast Charge Station in Selva di Val Gardena, Dolomiti • Dolomites Vives initiative • New commercial agreements in USA and Europe • New Area Sales Europe • Change of MSRP in USA • Canadian market approach

Gen/Feb March/April May June July August

CES 2017 – Las Energica FIRST Energica @ New Area Sales New important Vegas, with CRP joins CharIN e.v., ENERGICA Wheels&Waves Manager Europe change of MSRP Group and CRP to promote the FAST in USA USA CCS standard CHARGING Livia Cevolini New Sales worldwide. STATION in speech @ agreement in Official New US General Dolomites, Selva TEDxModena Germany - statement about Manager Homologation di Val Gardena Munich 3° model Euro 4 achieved Partnership with Dolomites Vives Canadian market Apache Custom New commercial test ride – Passo approach Motorcycles – new agreements: Sella available electric cafè racer France, Italy, US only for EVs based in Energica Eva

12 Energica Motor Company S.p.A. The electric sportbike: 107 kW motor power, 200 Nm torque, top speed 240 km/h Fast charge on board: 0-85% < 30 min)

13 Energica Motor Company S.p.A. The electric streetfighter: 80 kW motor power, 180 Nm torque, top speed 200 km/h Fast charge on board: 0-85% < 30 min)

14 Energica Motor Company S.p.A. EsseEsse9 concept

At EICMA 2016, the company unveiled a new concept, an evolution of design and technologies.

The new prototype has been called EsseEsse9, as the real name of Via Emilia, the major road that crosses the Italian Motor Valley. EsseEsse9 approaches the old- school branch of motorcycles as it’s an essential prototype: a concept that encloses the genuine engines passion typical of our region.

Energica Motor officially confirms that it will unveil the final version of this third model at Eicma 2017.

Energica Eva EsseEsse9, currently on homologation procedure, will arrive in European and US market in 2018, and will reach a new segment: the old school style motorcycle market.

15 Energica Motor Company S.p.A. Core Technology

FAST CHARGE CONNECTIVITY ITALIAN DESIGN DASHBOARD The only moto with integrated The vehicle can be equipped with EGO has an Italian-style, A 4,3" Color Display allows great Fast Charge “short-range” and “long range” tubular, craftsman-like trellis flexibility, supporting the flow of connectivity services BATTERY high strength steel frame information and interactivity with the PACK vehicle system Lithium-polymer battery with internal VEHICLE CONTROL designed cooling UNIT system. Dozens of sensors and EGO’s battery, inverter, charger electromechanical and ABS are constantly devices ensure monitored and managed by the maximum vehicle VCU, completely designed and performance and developed by Energica driver safety PARK ASSISTANT In order to facilitate SUSPENSION parking and EGO is equipped with maneuvers on adjustable Bitubo slopes or into rush (rear) traffic

KEY FEATURES RIDE BY WIRE ENGINEERING TIRES ABS Top speed: 150 mph / 240 kmh The ride-by-wire system ensure the perfect EGO is equipped Ego has the latest From 0 to 60 mph / 100 kmh: < 3" driving experience with 4 different engine BRAKES with road-gripping generation ABS mappings and 3 different mappings of Pirelli Diablo Rosso Torque: 195 Nm (0 to 4700 rpm) Front / rear braking BOSCH with rear-wheel regenerative braking II tires lift-up mitigation system Fast charge: 30 minutes (80%) systems provided by Zero emissions Brembo

Core technology / IP Selected supplier

16 Energica Motor Company S.p.A. Energica Motorcycles key features

✓ Fully Homologated: Especially in the world of electric vehicles, relatively new and "younger" than the most "established" combustion vehicle's market, there is still a little confusion on how important it is to get the COP, homologation, safety and reliability approvals. Energica are the only electric high- performing motorcycles fully homologated and approved by autorities for both Europe and USA.

✓ F1 and Aerospace Background: Energica benefits in countless and immeasurable ways from the close relationship and consultation with parent company CRP Group - a leader in the Formula 1 and Aerospace industry. The overall culture that distinguishes CRP Group is fully integrated into Energica Motor Company. Diving in F1 world and aerospace industries keeps Energica at the forefront of state-of-the-art technology and ready for future innovation.

✓ R&D: Energica core R&D activities are aimed at achieving knowledge to design new products and improve the ones already on sales. Development programs are particularly aimed at: ▪ Reducing vehicles weight ▪ Improving aerodynamic characteristics ▪ Seeking new technical solutions

17 Energica Motor Company S.p.A. VCU – Vehicle Control Unit

VCU functions are:

• Vehicle Power Management; • Charge Control and Charge Station Interface; • Drivetrain Control; • User actions handling; • Vehicle Functional Status handling

User Actions VCU can handle all User Controls including:

• Throttle Control; • High/Low Beam Control; • Horn; • Brake Switch; • Motor Start; • Turn Indicator Switches; • Mode Select Switch

*Energica has an Italian patent on VCU. Patent pending for major foreign countries in progress

18 Energica Motor Company S.p.A. Battery Pack

CAPACITY 11.7 kWh LIFE 1200 CYCLES @ 80% (100% DOD)

Batteries:

Energica motorcycles use a high-energy lithium polymer (Li- NMC) battery. Contained in sealed housing holding battery cells, the Battery Management System (BMS) has all the necessary provisions to ensure the safety of the vehicle. The battery keeps all high-voltage components encapsulated, making it impossible to accidentally be exposed to risk. The battery pack is an intelligent device with its own electrical brain, comprising dozens of sensors and electromechanical devices that constitute a closed subsystem to ensure maximum vehicle performance and driver safety in all environmental conditions. Energica has designed a cooling system for the Ego and Eva battery pack that is superior thanks to its specific ventilation paths that limit the stress of the batteries. This provides considerable benefits to both performances of the vehicle and the life of the battery.

19 Energica Motor Company S.p.A. Dashboard

The TFT full-color LCD dashboard on Energica motorcycles with 16.7 million display colors has excellent daytime and nighttime visibility.

The active matrix dashboard creates a real Human Machine Interface for the Energica motorcycles.

This technology allows great flexibility, supporting the flow of information and interactivity with the vehicle system.

It can provide an extensive menu of configurations and advanced user diagnostics, which are easy to read. It also monitors all of the functions and phases of vehicle operation, such as charging, driving, standby, and the connection with the outside world.

20 Energica Motor Company S.p.A. Dashboard - Diagnostic

• TROUBLE CODES erasing/visualizing options (datas , reading, failure code); • All motorcycle real time readings visualization, almost 200 parameters (throttle position, battery current draw, single cell charge status); • motorcycle parameters and firmware updating • reset VCU Vehicle Control Unit; • possibility to swich on and off several on board devices( fans, light etc.) through workshop service tablet, for testing

21 Energica Motor Company S.p.A. Fast Charge

• Fast Charge on board: Energica is the first and only electric motorcycle capable of fast charging with CCS standard (Type 1 & 2)

• Energica motorcycles can be recharged through the outdoor charging stations or at home.

• Equipped with an onboard battery charger with a cable interface on the or remotely via Bluetooth connectivity.

• All charging parameters can be displayed directly on the dashboard or remotely via bluetooth connectivity. (GPRS from 2017).

• The vehicle’s on board charging socket is equipped with automatic locking device cable.

22 Energica Motor Company S.p.A. Fast Charge Infrastructure Program

Energica is the unique EV Motorcycle with DC fast-charge technology based on CCS Combo that allows the bike to charge 80% of battery in 20 minutes.

Energica intends to deploy an installation plan of fast charge points targeting the best roads motorcyclists love to ride through. In partnership with several companies (Utilities, Hardware provider, charging services) Energica will either co-finance the installations of dedicated chargers (DC technology 20kw, Combo CCS standard plugs) or facilitate the access to existing ones. This will allow Energica customers to enjoy the best roads without any range anxiety. Energica will fill the gap to guarantee EV motorcycle rides.

A detail plan on routes is in process according to Energica dealership network and a first round of installations has been identified in some locations in Italy (Energica Fast Charge already unveiled in Dolomiti area) and in California. In the areas where charging network are already available Energica facilitates customer to used them. In The Netherlands Energica has the option to use fast charge network for free thanks to an agreement with Fastned Company that provides 4 years fast charge through the growing network with 20-30 minutes average charging time.

The fast-charge installation project foresees multiyear plan with prospective investment up to 1.mln € according to market areas and needs, starting from for Italian region and California covered under the marketing budget.

23 Energica Motor Company S.p.A. First Energica Fast Charge

• Unveiling the first “Fast Charge Infrastructure Program” charging station. Following and Tesla, Energica unveiled the first Energica fast charging station at Selva di Val Gardena, Dolomiti - Italy.

• The 50 kW Fast Charging Station has been installed in Str. Meisules, 144, 39048 Selva di Val Gardena (BZ) thanks to the partnership with Alperia.

• This station is the first fast charge in Dolomites Area and is part of the "Energica Fast Charge Infrastructure Program“, an installation plan of fast charge points targeting the best roads motorcyclists love to ride through.

• In partnership with several companies (Utilities, Hardware provider, charging services) Energica will either co-finance the installations of dedicated chargers (DC technology 20kw, Combo CCS standard plugs) or facilitate the access to existing ones.

• With this new installation, motorcyclists and other EV customers will finally be able to discover the amazing Dolomites area with full electric vehicles and without any range anxiety

24 Energica Motor Company S.p.A. Value Plan

Energica is working on a plan to warrantee the value of 2 years used Energica motorcycles. The plan is based on a package of measures including that the manufacturer will guarantee the value of the vehicles sold minimum 50% of the initial price after 24 months, VAT included.

The plan works as follow:

1.Trade-in of the motorcycle for the purchase of a new Energica model: The official Energica Dealer undertakes to evaluate the motorcycle given in trade-in at 50% of the retail price + € 6.000,00 VAT Included. This part is paid as over- valuation by Energica. 2.Super-warranty of the battery for 100.000km or 5 years [1] After 24 months from the motorcycle registration (minus 1 as notice), the Customer, based on its own feeling experience, has to choose between the two options. The trade-in of the motorcycle will be up to the local dealer that originally sold the bike. The extra bonus will be paid directly to final customers by Energica Motor Company. The plan is covered under the “sales support costs” approved in the official business plan.

[1] Whichever occurs sooner

25 Energica Motor Company S.p.A. Energica Sales Network

Energica Motor Company Inc., the exclusive distributor for Energica Motor Company SpA, the Italian manufacturer of high-performing electric motorcycles, is strengthening its presence on the American territory: new commercial agreements were just signed in California, Florida and New Hampshire. In addition Energica officially announces approaching the Canadian market. Negotiations are in progress as well as homologation procedure for Canadian territory

In Europe, last news is that Energica has signed a new commercial agreement in Germany with Iwan Bikes GmbH. The dealer is located a few miles from Munich and will serve an important area for the Italian manufacturer. Energica Motor has decided to invest in German market by dedicating a commercial resource, Gerhard Ziegler, a new Area Sales Manager Europe.

26 Energica Motor Company S.p.A. Energica USA Updates

The US division of Energica Motor Company S.p.A. was born in 2014 to support the Italian company on one of the most active EV market in the world.

After only 12 months, Energica Inc. now has an operating headquarters in Redwood (San Francisco), able to meet customers' sales & service needs. Energica Dealer & Service Centre is supported by a dealer network in Los Angeles, West Palm Beach (Florida) and Nashua (New Hampshire). New negotiations are in the pipeline.

As a result of this growth, Energica announces an important change of MSRP which will be closer to Energica European prices. This change involves a reduction in the suggested retail price of about $ 5,000.

"The significant competitive improvement," says Stefano Benatti, US General Manager Energica Motor Company Inc., "is due to improved economies of scale and the operational structure optimization in the United States."

27 Energica Motor Company S.p.A. Global Electric Motorcycles Market

• Electric Motorcycles & Scooters Market size was valued at over USD 25 billion in 2015 and will grow at more than 10% CAGR estimation from 2016 to 2024. Global shipments are projected to surpass 60 million units by 2024. * • According to ACEM E-motorcycles registration report we can see more than positive signals from the European Market: + 50% compared to 2015. • Joel Couse, chief economist for Total, predicted that sales of electric cars will surge from about 1% globally in today’s new car market to up to 30% of the market by 2030. • According to Tracxn Electric vehicles Report electric vehicle space in 2016 saw investments increase by 500% from previous year. Energica Motor Company was the only one to go public in this sector in the last three years.

* Source: “Electric Motorcycles & Scooters Market Size By Product (Motorcycles, Scooters), By Battery (SLA, Li-ion, NiMH), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, China, India, Japan, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” by Global Market Insights, Inc.

28 Energica Motor Company S.p.A. Competitive Scenario

• The competitive environment is mainly composed by a few of small Electric Motorcycles focused players. Below on the left is a table showing the companies operating in the production and sale of electric motorcycles and the companies which intend to launch electric motorcycles. • On the right is a graph illustrating the competitive positioning of the Company compared to the current competitors within the high-powered electric motorcycles segment. As far as Energica’s competitive positioning is concerned, we view it as a premium brand in the High Powered Two Wheels Market, i.e. potentially competing with KTM and Harley Davidson (or with the Italian Ducati if we want to remain in the Italian motor valley), but avoiding direct competition as it is specialised in innovative electric motorbikes. On the other hand, Polaris, with the acquisition of the motorcycles division of , represents the first mass market player that enters the electric market, suggesting that there is a growing interest towards the sector of electric vehicles.

Main Electric Motorcycles competitors - availability Competitive Scenario high-powered

• BMW C evolution (maxi-scooter) ✓

• Producer of electric motorcycles only • Current product range made up by 6 models ✓

• Sales started in July 2009 • Polaris acquired Brammo’s electric motorcycles ✓ products Premium division

• Battery-powered Freeride E launched in September 2014 ✓

• 1 electric motorcycle prototype unveiled to press in June 2014 (LiveWire) X products Mass

• Electric motorcycle cocnepts under development and Electric motorcycles manufacturer in pipeline for production (PES/PED) X Traditional motorcycles manufacturer

29 Energica Motor Company S.p.A. Future Strategies and Plans

Future Strategic milestones

• Launch of a New Model (4th) • New additional production line • Start Series Production • Launch of a New Model (3rd)

2016 2017 2018 2019 2020 2021 CONSOLIDATION PHASE CONSOLIDATION • New additional production • 2 New additional • Restyling of the line production lines first 3 models

30 Energica Motor Company S.p.A. Marketing Plan Milestones

The marketing strategy aims to define company and products placements, according to our target:

a) To strengthen the credibility of the company and its products

b) To make the target aware of the value proposition of our product

c) To leverage the products in order to create community

31 Energica Motor Company S.p.A. 2017 Marketing Plan- activities

1) Fairs (International, National, local, EU/USA)

2) Show tester & Brand ambassador (8 tester in USA/EU and several testimonial in key markets)

3) Long test media (strengthen the collaboration with media with long test ride)

4) Product Communication (ADV plan between February and June on 8 EU media and 3 USA media in several fields – motorcycling, sport, lifestyle)

5) Digital Communication (website SEO, social media marketing and google ads)

6) Promotions (Value Plan, Kit promotion, fast-charge)

7) Sales Development (new markets and dealer network development)

32 Energica Motor Company S.p.A. Analyst Coverage

"Ready to scale up"

● "High performing electric motorcycles manufacturer founded back in 2014, Energica Motor Company has a clear mission in mind: to create high performance - high powered electric motorcycles with top quality components.”

ValueTrack Analyst Coverage available on Energica Investors Relations section

33 Energica Motor Company S.p.A. ADAM CHILD & ENERGICA EGO TT ZERO «The Electric Production TT Lap Record holders»

ELECTRIC REVOLUTION 34 Energica Motor Company S.p.A.