Zapp's DFM for Electrification Opportunity in the Two-Wheeler EV Market

Phase 1 Target Market Initial target markets have sizable annual P2W sale volume and a significant number of ICE P2Ws in circulation France Italy Spain P2W Market Sizes in Target Markets in 2022 (# of Vehicles Sold Annually in Units) 1 225,352 292,991 194,425 Existing Population of P2W in Use (To be Replaced by EV) in Each Country 2 ~3,600,000 72 7) Estimated motorcycle and scooter production volume in 2022. Source: ACEM Statistical Release.. 2) Motorcycle on road population from the latest available various sources. ~7,300,000 ~5,700,000 30 0

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