EVBox SPAC Presentation Deck slide image

EVBox SPAC Presentation Deck

Note on Historical Financial Statements The historical financial numbers for EV Charged presented in this presentation, while audited under generally accepted accounting principles in the Netherlands ("Dutch GAAP"), are subject to revision based on the completion of a re-audit by an independent registered public accounting firm under generally accepted accounting principles in the United States ("US GAAP"). While TPG Pace and EV Charged do not anticipate that there will be material differences in the historical financial numbers presented for EV Charged from the re-audited historical financial numbers prepared in accordance with US GAAP, no assurance can be given that there will not be any differences, material or otherwise. Certain adjustments to the historical financial statements were included to reflect the impact of subsequent events that materialized after the local Dutch financial statements had been prepared. These adjustments will also be reflected in the US GAAP financial statements. TPG We believe the primary differences between Dutch GAAP and US GAAP that are relevant to EVBox include (but may not be limited to): Capitalized development costs: a large portion of hardware and software development costs have been capitalized in the historical financial statements under Dutch GAAP. US GAAP does not allow for capitalization of hardware development costs and is restrictive in the types of software expenses that can be capitalized. Conversion to US GAAP will, therefore, result in an increase in direct expense in the income statement and a reduction of depreciation/amortization expense due to lower capitalization ■ EVBOX GROUP ■ Stock compensation: the company has not expensed certain stock compensation awards under Dutch GAAP. Adoption of US GAAP will require these awards to be expensed in the income statement Acquisition accounting: under Dutch GAAP the company has recognized Goodwill as the difference between the acquisition purchase price and the book value of net assets and under Dutch GAAP Goodwill is amortized over time. Under US GAAP, these acquisitions will require the assets and liabilities to be measured at fair value (vs book value) and the resulting Goodwill as the difference between purchase price and the determined fair value of net assets. Under US GAAP, Goodwill is not amortized over time In addition due to the conversion from Dutch GAAP to US GAAP there may be other changes in areas such as revenue recognition, income statement presentation, income taxes etc. that may result in the US GAAP audited numbers being different from what presented under Dutch GAAP. TPG PACE BENEFICIAL FINANCE CORP. 60
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