Investor Presentation October 2021 slide image

Investor Presentation October 2021

INVESTOR PRESENTATION / OCTOBER 2023 TRANSACTION OVERVIEW • Overview Verde Bioresins Inc., a pioneer in proprietary biopolymer resins. TLGY Acquisition Corp, a SPAC with deep roots in private equity and transformational operations. To raise capital for commercial and capacity expansion globally. Valuation¹ Pre-money EV of $365 million based on financial outlook and public valuation comps, which could support a potential valuation range between $300M and $700M. Illustrative Pro Forma Valuation (post-money) Verde Share Price Shares Outstanding (M)³ Pro Forma Equity Value Existing Net Debt (-) Net Cash to Balance Sheet Pro Forma Enterprise Value • Other Key Terms $63 million pro forma cash: $78 million TLGY cash in trust less up to $15 million in estimated transaction expenses, assuming no further redemptions and no PIPE. Minimum cash condition: $15 million (termination right with certain cost reimbursement obligations). Non-detachable warrants: 5,750,000 public warrants granted to non-redeeming shareholders. Non-detachable warrant exchange right²: the right to exchange them for common at 5:1 ratio Interest alignment between public shareholders, Verde, and the Sponsor: significant Sponsor and Verde economics tied to stock performance of 35% IRR over a 5-year horizon and/or capital raising. Estimated Sources & Uses Sources Cash Held in Trust Verde Shareholder Equity Rollover Total Sources of Funds Uses Equity Issued to Verde Estimated Transaction Fees Remaining Cash (Balance Sheet) Total Uses of Funds $10 50 $496M (63) $433M ($M) 78 365 $443M ($M) 365 15 63 $443M 1. Valuation based on referenced industry peer comps for FY24 and FY25 Revenue and EBITDA multiples, which support potential valuation range of $300M to $700M using several multiples (see appendix 1). Peers include NYSE: DNMR, NASDAQ: PCT, and NASDAQ: ORGN | 2. We intend to offer to shareholders who do not redeem their shares in connection with the closing of an initial business combination the option to receive distributable redeemable warrants, as described in our IPO prospectus, or one share of common stock in lieu of every five of such distributable redeemable warrants. | 3. Assumes no redemptions by TLGY public shareholders. (3.1) Public Shareholder Ownership includes 7,318,182 Common Shares, it excludes 11,500,000 detachable public warrants and 5,750,000 non-detachable public warrants. The non-detachable public warrants holders are expected to have the right to convert 5,750,000 at 5:1 warrant units to common share ratio at closing. (3.2) Sponsor ownership excludes 2,750,000 additional common shares to be granted within 4 years from Closing based on achieving the target cash requirement. (3.3) If the combined Company's stock price achieves an IRR of 35% over a 5-year horizon, Verde receives up to an additional 36,500,000 shares and the Sponsor an additional 3,000,000 shares. 8
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