Marti SPAC Presentation Deck
Transaction summary
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About Marti
Marti is Turkey's leading mobility provider,
operating a fleet of e-scooters, e-bikes, and
e-mopeds, serviced by proprietary software
systems and loT infrastructure
Marti has achieved strong growth and best-
in-class unit profitability¹
As the #1 mobility app on the iOS & Android
stores in Turkey, Marti seeks to become
Turkey's first mobility super app by
expanding into other attractive adjacencies,
leveraging its growing and loyal customer
base
Transaction overview
Galata is a NYSE-listed special purpose acquisition
company which proposes to close a merger with
Marti in Q4 2022
Pro-forma enterprise value of c.$532 million and
equity value of c.$630 million
O Implied pro forma enterprise value of 4.2x
2023FD (Fully Deployed2) net revenue of c.$125
million and 9.7x 2023FD (Fully Deployed²)
EBITDA of c.$55 million
O
$57.5 million convertible note PIPE
commitments plus assumed incremental PIPE
commitments of up to $92.5 million to be raised
post-announcement will fund future growth
Marti shareholders are rolling 100% of their equity
and are expected to own c.50% ³ of the Company at
close
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Due diligence conducted by Galata
Background checks on management and
shareholders
Engagement of leading global audit and
accounting firm for financial due diligence
Engagement of international and local counsel
for legal due diligence
Engagement of the world's leading business
consultancy for comprehensive commercial due
diligence
Comprehensive evaluation of competitors and
comparative transactions
Independent analysis of current market share,
unit economics, and regulatory regime
Source: Company information, Helbiz and Bird investor presentations and SEC filings. Note: 1. In FY2021, Marti had a positive (+1%) EBITDA margin vs Bird's (-33%) and Helbiz's (-409%) significantly negative EBITDA margins. 2. FD refers to Fully Deployed figures that Marti would be expected
to achieve in 2023 if only the proceeds from the ~$57.5 million in convertible note PIPE commitments plus assumed incremental PIPE commitments of up to ~$92.5 million to be raised post-announcement were to be deployed towards purchasing E-Scooters, E-Mopeds and E-Bikes
immediately upon receipt. 3. Based on the Pro-Forma Diluted Ownership laid out on the Detailed transaction overview slide.
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